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Eversource Energy（ES）与Steel Dynamics（STLD）财务数据对比。点击上方公司名可切换其他公司
Steel Dynamics的季度营收约是Eversource Energy的1.5倍（$5.2B vs $3.4B），Eversource Energy净利率更高（12.6% vs 7.7%，领先4.9%），Steel Dynamics同比增速更快（17.9% vs 13.4%），过去两年Steel Dynamics的营收复合增速更高（6.0% vs 0.6%）
Eversource Energy是位列财富500强的上市能源企业，总部位于美国马萨诸塞州斯普林菲尔德，在康涅狄格州哈特福德、马萨诸塞州波士顿均设有办公据点，旗下多家受监管子公司为康涅狄格、马萨诸塞、新罕布什尔三州约400万用户提供零售电力、天然气及供水服务。
Steel Dynamics是总部位于美国印第安纳州韦恩堡的钢铁生产企业，钢铁产能达1300万吨，为美国第三大碳钢产品生产商，按利润率及每吨运营利润率计算属于美国盈利能力最强的钢企之一，凭借2021年营收位列2022年财富美国500强第196位。
ES vs STLD — 直观对比
营收规模更大
STLD
是对方的1.5倍
$3.4B
营收增速更快
STLD
高出4.5%
13.4%
净利率更高
ES
高出4.9%
7.7%
两年增速更快
STLD
近两年复合增速
0.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $5.2B |
| 净利润 | $423.2M | $400.1M |
| 毛利率 | — | 14.7% |
| 营业利润率 | 21.1% | 10.3% |
| 净利率 | 12.6% | 7.7% |
| 营收同比 | 13.4% | 17.9% |
| 净利润同比 | 468.8% | 51.3% |
| 每股收益（稀释后） | $1.11 | $2.78 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ESSTLD
| Q1 26 | — | $5.2B | ||
| Q4 25 | $3.4B | $4.4B | ||
| Q3 25 | $3.2B | $4.8B | ||
| Q2 25 | $2.8B | $4.6B | ||
| Q1 25 | $4.1B | $4.4B | ||
| Q4 24 | $3.0B | $3.9B | ||
| Q3 24 | $3.1B | $4.3B | ||
| Q2 24 | $2.5B | $4.6B |
净利润ESSTLD
| Q1 26 | — | $400.1M | ||
| Q4 25 | $423.2M | $266.0M | ||
| Q3 25 | $369.4M | $403.7M | ||
| Q2 25 | $354.6M | $298.7M | ||
| Q1 25 | $552.7M | $217.2M | ||
| Q4 24 | $74.4M | $207.3M | ||
| Q3 24 | $-116.2M | $317.8M | ||
| Q2 24 | $337.2M | $428.0M |
毛利率ESSTLD
| Q1 26 | — | 14.7% | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 15.7% | ||
| Q2 25 | — | 13.5% | ||
| Q1 25 | — | 11.1% | ||
| Q4 24 | — | 11.4% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | — | 16.7% |
营业利润率ESSTLD
| Q1 26 | — | 10.3% | ||
| Q4 25 | 21.1% | 7.0% | ||
| Q3 25 | 21.4% | 10.5% | ||
| Q2 25 | 23.4% | 8.4% | ||
| Q1 25 | 22.5% | 6.3% | ||
| Q4 24 | 11.7% | 6.1% | ||
| Q3 24 | 20.0% | 9.1% | ||
| Q2 24 | 23.8% | 12.1% |
净利率ESSTLD
| Q1 26 | — | 7.7% | ||
| Q4 25 | 12.6% | 6.0% | ||
| Q3 25 | 11.5% | 8.4% | ||
| Q2 25 | 12.5% | 6.5% | ||
| Q1 25 | 13.4% | 5.0% | ||
| Q4 24 | 2.5% | 5.4% | ||
| Q3 24 | -3.8% | 7.3% | ||
| Q2 24 | 13.3% | 9.2% |
每股收益（稀释后）ESSTLD
| Q1 26 | — | $2.78 | ||
| Q4 25 | $1.11 | $1.80 | ||
| Q3 25 | $0.99 | $2.74 | ||
| Q2 25 | $0.96 | $2.01 | ||
| Q1 25 | $1.50 | $1.44 | ||
| Q4 24 | $0.16 | $1.40 | ||
| Q3 24 | $-0.33 | $2.05 | ||
| Q2 24 | $0.95 | $2.72 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $135.4M | $556.5M |
| 总债务越低越好 | — | $4.2B |
| 股东权益账面价值 | $16.2B | $9.0B |
| 总资产 | $63.8B | $16.7B |
| 负债/权益比越低杠杆越低 | — | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资ESSTLD
| Q1 26 | — | $556.5M | ||
| Q4 25 | $135.4M | $769.9M | ||
| Q3 25 | $259.3M | $770.4M | ||
| Q2 25 | $343.7M | $497.6M | ||
| Q1 25 | $111.4M | $1.2B | ||
| Q4 24 | $26.7M | $737.3M | ||
| Q3 24 | $97.9M | $1.7B | ||
| Q2 24 | — | $1.2B |
总债务ESSTLD
| Q1 26 | — | $4.2B | ||
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $3.8B | ||
| Q2 25 | — | $3.8B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | — | $3.7B | ||
| Q2 24 | — | $3.1B |
股东权益ESSTLD
| Q1 26 | — | $9.0B | ||
| Q4 25 | $16.2B | $9.0B | ||
| Q3 25 | $16.0B | $9.0B | ||
| Q2 25 | $15.7B | $8.9B | ||
| Q1 25 | $15.3B | $8.8B | ||
| Q4 24 | $15.0B | $8.9B | ||
| Q3 24 | $15.0B | $9.1B | ||
| Q2 24 | $14.8B | $9.1B |
总资产ESSTLD
| Q1 26 | — | $16.7B | ||
| Q4 25 | $63.8B | $16.4B | ||
| Q3 25 | $61.7B | $16.0B | ||
| Q2 25 | $61.0B | $15.5B | ||
| Q1 25 | $60.2B | $15.9B | ||
| Q4 24 | $59.6B | $14.9B | ||
| Q3 24 | $58.6B | $15.7B | ||
| Q2 24 | $58.4B | $15.1B |
负债/权益比ESSTLD
| Q1 26 | — | 0.47× | ||
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.42× | ||
| Q2 25 | — | 0.43× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.41× | ||
| Q2 24 | — | 0.34× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $916.1M | $148.3M |
| 自由现金流经营现金流 - 资本支出 | $-67.3M | — |
| 自由现金流率自由现金流/营收 | -2.0% | — |
| 资本支出强度资本支出/营收 | 29.2% | — |
| 现金转化率经营现金流/净利润 | 2.16× | 0.37× |
| 过去12个月自由现金流最近4个季度 | $-45.1M | — |
8季度趋势，按日历期对齐
经营现金流ESSTLD
| Q1 26 | — | $148.3M | ||
| Q4 25 | $916.1M | $272.7M | ||
| Q3 25 | $1.1B | $722.6M | ||
| Q2 25 | $1.1B | $301.6M | ||
| Q1 25 | $1.0B | $152.6M | ||
| Q4 24 | $642.1M | $346.9M | ||
| Q3 24 | $555.6M | $759.9M | ||
| Q2 24 | $670.7M | $382.6M |
自由现金流ESSTLD
| Q1 26 | — | — | ||
| Q4 25 | $-67.3M | $84.2M | ||
| Q3 25 | $-26.3M | $556.9M | ||
| Q2 25 | $15.3M | $13.3M | ||
| Q1 25 | $33.2M | $-152.9M | ||
| Q4 24 | $-546.5M | $-106.3M | ||
| Q3 24 | $-515.4M | $138.5M | ||
| Q2 24 | $-400.8M | $-36.6M |
自由现金流率ESSTLD
| Q1 26 | — | — | ||
| Q4 25 | -2.0% | 1.9% | ||
| Q3 25 | -0.8% | 11.5% | ||
| Q2 25 | 0.5% | 0.3% | ||
| Q1 25 | 0.8% | -3.5% | ||
| Q4 24 | -18.4% | -2.7% | ||
| Q3 24 | -16.8% | 3.2% | ||
| Q2 24 | -15.8% | -0.8% |
资本支出强度ESSTLD
| Q1 26 | — | — | ||
| Q4 25 | 29.2% | 4.3% | ||
| Q3 25 | 35.0% | 3.4% | ||
| Q2 25 | 36.7% | 6.3% | ||
| Q1 25 | 24.5% | 7.0% | ||
| Q4 24 | 40.0% | 11.7% | ||
| Q3 24 | 35.0% | 14.3% | ||
| Q2 24 | 42.3% | 9.0% |
现金转化率ESSTLD
| Q1 26 | — | 0.37× | ||
| Q4 25 | 2.16× | 1.03× | ||
| Q3 25 | 2.98× | 1.79× | ||
| Q2 25 | 2.98× | 1.01× | ||
| Q1 25 | 1.88× | 0.70× | ||
| Q4 24 | 8.63× | 1.67× | ||
| Q3 24 | — | 2.39× | ||
| Q2 24 | 1.99× | 0.89× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ES
| Residential | $1.2B | 35% |
| Commercial | $789.0M | 23% |
| Eversource Electric Transmission | $573.8M | 17% |
| Wholesale Transmission Revenue | $570.0M | 17% |
| Industrial | $102.6M | 3% |
| Water Distribution Segment | $58.4M | 2% |
| Eversource Water | $56.3M | 2% |
| Other Revenue Adjustmentsfrom Contractswith Customers | $25.9M | 1% |
STLD
| Steel | $3.5B | 68% |
| Metals Recycling | $593.2M | 11% |
| Other | $490.1M | 9% |
| Steel Fabrication | $355.4M | 7% |
| Aluminum | $227.4M | 4% |
