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Eversource Energy（ES）与Targa Resources（TRGP）财务数据对比。点击上方公司名可切换其他公司
Targa Resources的季度营收约是Eversource Energy的1.2倍（$4.1B vs $3.4B），Targa Resources净利率更高（13.4% vs 12.6%，领先0.9%），Eversource Energy同比增速更快（13.4% vs -7.9%），Targa Resources自由现金流更多（$542.3M vs $-67.3M），过去两年Targa Resources的营收复合增速更高（0.8% 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。
Targa Resources Corp.为财富500强企业，总部位于美国得克萨斯州休斯敦，是美国规模最大的中游能源基础设施企业之一，主营天然气及天然气凝液输送业务，运营资产主要集中在墨西哥湾沿岸，得克萨斯州与路易斯安那州为核心布局区域，马修·J·梅洛伊自2020年起担任首席执行官。
ES vs TRGP — 直观对比
营收规模更大
TRGP
是对方的1.2倍
$3.4B
营收增速更快
ES
高出21.4%
-7.9%
净利率更高
TRGP
高出0.9%
12.6%
自由现金流更多
TRGP
多$609.6M
$-67.3M
两年增速更快
TRGP
近两年复合增速
0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $4.1B |
| 净利润 | $423.2M | $545.0M |
| 毛利率 | — | 43.1% |
| 营业利润率 | 21.1% | 22.6% |
| 净利率 | 12.6% | 13.4% |
| 营收同比 | 13.4% | -7.9% |
| 净利润同比 | 468.8% | 55.3% |
| 每股收益（稀释后） | $1.11 | $2.51 |
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ESTRGP
| Q4 25 | $3.4B | $4.1B | ||
| Q3 25 | $3.2B | $4.2B | ||
| Q2 25 | $2.8B | $4.3B | ||
| Q1 25 | $4.1B | $4.6B | ||
| Q4 24 | $3.0B | $4.4B | ||
| Q3 24 | $3.1B | $3.9B | ||
| Q2 24 | $2.5B | $3.0B | ||
| Q1 24 | $3.3B | $4.0B |
净利润ESTRGP
| Q4 25 | $423.2M | $545.0M | ||
| Q3 25 | $369.4M | $478.4M | ||
| Q2 25 | $354.6M | $629.1M | ||
| Q1 25 | $552.7M | $270.5M | ||
| Q4 24 | $74.4M | $350.9M | ||
| Q3 24 | $-116.2M | $387.4M | ||
| Q2 24 | $337.2M | $298.5M | ||
| Q1 24 | $523.7M | $275.2M |
毛利率ESTRGP
| Q4 25 | — | 43.1% | ||
| Q3 25 | — | 39.6% | ||
| Q2 25 | — | 42.8% | ||
| Q1 25 | — | 28.6% | ||
| Q4 24 | — | 33.7% | ||
| Q3 24 | — | 38.6% | ||
| Q2 24 | — | 27.9% | ||
| Q1 24 | — | 19.3% |
营业利润率ESTRGP
| Q4 25 | 21.1% | 22.6% | ||
| Q3 25 | 21.4% | 20.2% | ||
| Q2 25 | 23.4% | 24.3% | ||
| Q1 25 | 22.5% | 11.9% | ||
| Q4 24 | 11.7% | 15.9% | ||
| Q3 24 | 20.0% | 18.9% | ||
| Q2 24 | 23.8% | 20.6% | ||
| Q1 24 | 25.4% | 16.0% |
净利率ESTRGP
| Q4 25 | 12.6% | 13.4% | ||
| Q3 25 | 11.5% | 11.5% | ||
| Q2 25 | 12.5% | 14.8% | ||
| Q1 25 | 13.4% | 5.9% | ||
| Q4 24 | 2.5% | 8.0% | ||
| Q3 24 | -3.8% | 10.1% | ||
| Q2 24 | 13.3% | 9.8% | ||
| Q1 24 | 15.7% | 6.9% |
每股收益（稀释后）ESTRGP
| Q4 25 | $1.11 | $2.51 | ||
| Q3 25 | $0.99 | $2.20 | ||
| Q2 25 | $0.96 | $2.87 | ||
| Q1 25 | $1.50 | $0.91 | ||
| Q4 24 | $0.16 | $1.44 | ||
| Q3 24 | $-0.33 | $1.75 | ||
| Q2 24 | $0.95 | $1.33 | ||
| Q1 24 | $1.49 | $1.22 |
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 | $166.1M |
| 总债务越低越好 | — | $16.7B |
| 股东权益账面价值 | $16.2B | $3.1B |
| 总资产 | $63.8B | $25.2B |
| 负债/权益比越低杠杆越低 | — | 5.43× |
8季度趋势，按日历期对齐
现金及短期投资ESTRGP
| Q4 25 | $135.4M | $166.1M | ||
| Q3 25 | $259.3M | $124.1M | ||
| Q2 25 | $343.7M | $113.1M | ||
| Q1 25 | $111.4M | $151.4M | ||
| Q4 24 | $26.7M | $157.3M | ||
| Q3 24 | $97.9M | $127.2M | ||
| Q2 24 | — | $166.4M | ||
| Q1 24 | — | $109.9M |
总债务ESTRGP
| Q4 25 | — | $16.7B | ||
| Q3 25 | — | $16.7B | ||
| Q2 25 | — | $16.1B | ||
| Q1 25 | — | $15.5B | ||
| Q4 24 | — | $13.8B | ||
| Q3 24 | — | $13.6B | ||
| Q2 24 | — | $13.0B | ||
| Q1 24 | — | $12.5B |
股东权益ESTRGP
| Q4 25 | $16.2B | $3.1B | ||
| Q3 25 | $16.0B | $2.7B | ||
| Q2 25 | $15.7B | $2.6B | ||
| Q1 25 | $15.3B | $2.5B | ||
| Q4 24 | $15.0B | $2.6B | ||
| Q3 24 | $15.0B | $2.6B | ||
| Q2 24 | $14.8B | $2.5B | ||
| Q1 24 | $14.5B | $2.7B |
总资产ESTRGP
| Q4 25 | $63.8B | $25.2B | ||
| Q3 25 | $61.7B | $24.2B | ||
| Q2 25 | $61.0B | $23.5B | ||
| Q1 25 | $60.2B | $22.8B | ||
| Q4 24 | $59.6B | $22.7B | ||
| Q3 24 | $58.6B | $21.9B | ||
| Q2 24 | $58.4B | $21.3B | ||
| Q1 24 | $57.3B | $20.8B |
负债/权益比ESTRGP
| Q4 25 | — | 5.43× | ||
| Q3 25 | — | 6.19× | ||
| Q2 25 | — | 6.21× | ||
| Q1 25 | — | 6.34× | ||
| Q4 24 | — | 5.32× | ||
| Q3 24 | — | 5.28× | ||
| Q2 24 | — | 5.25× | ||
| Q1 24 | — | 4.63× |
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 | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $-67.3M | $542.3M |
| 自由现金流率自由现金流/营收 | -2.0% | 13.4% |
| 资本支出强度资本支出/营收 | 29.2% | 23.8% |
| 现金转化率经营现金流/净利润 | 2.16× | 2.76× |
| 过去12个月自由现金流最近4个季度 | $-45.1M | $584.1M |
8季度趋势，按日历期对齐
经营现金流ESTRGP
| Q4 25 | $916.1M | $1.5B | ||
| Q3 25 | $1.1B | $599.2M | ||
| Q2 25 | $1.1B | $858.3M | ||
| Q1 25 | $1.0B | $954.4M | ||
| Q4 24 | $642.1M | $1.3B | ||
| Q3 24 | $555.6M | $540.9M | ||
| Q2 24 | $670.7M | $904.5M | ||
| Q1 24 | $291.3M | $876.4M |
自由现金流ESTRGP
| Q4 25 | $-67.3M | $542.3M | ||
| Q3 25 | $-26.3M | $-72.6M | ||
| Q2 25 | $15.3M | $-47.8M | ||
| Q1 25 | $33.2M | $162.2M | ||
| Q4 24 | $-546.5M | $601.0M | ||
| Q3 24 | $-515.4M | $-287.9M | ||
| Q2 24 | $-400.8M | $164.2M | ||
| Q1 24 | $-858.1M | $206.6M |
自由现金流率ESTRGP
| Q4 25 | -2.0% | 13.4% | ||
| Q3 25 | -0.8% | -1.7% | ||
| Q2 25 | 0.5% | -1.1% | ||
| Q1 25 | 0.8% | 3.6% | ||
| Q4 24 | -18.4% | 13.6% | ||
| Q3 24 | -16.8% | -7.5% | ||
| Q2 24 | -15.8% | 5.4% | ||
| Q1 24 | -25.7% | 5.2% |
资本支出强度ESTRGP
| Q4 25 | 29.2% | 23.8% | ||
| Q3 25 | 35.0% | 16.2% | ||
| Q2 25 | 36.7% | 21.3% | ||
| Q1 25 | 24.5% | 17.4% | ||
| Q4 24 | 40.0% | 16.5% | ||
| Q3 24 | 35.0% | 21.5% | ||
| Q2 24 | 42.3% | 24.3% | ||
| Q1 24 | 34.5% | 16.8% |
现金转化率ESTRGP
| Q4 25 | 2.16× | 2.76× | ||
| Q3 25 | 2.98× | 1.25× | ||
| Q2 25 | 2.98× | 1.36× | ||
| Q1 25 | 1.88× | 3.53× | ||
| Q4 24 | 8.63× | 3.78× | ||
| Q3 24 | — | 1.40× | ||
| Q2 24 | 1.99× | 3.03× | ||
| Q1 24 | 0.56× | 3.18× |
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% |
TRGP
| Logistics And Transportation | $3.4B | 83% |
| Natural Gas Reserves | $393.1M | 10% |
| Storage Terminaling And Export | $130.9M | 3% |
| Oil And Condensate | $112.0M | 3% |
| NGL Transportation Fractionation And Services | $64.7M | 2% |
