vs
Entergy（ETR）与第一太阳能（FSLR）财务数据对比。点击上方公司名可切换其他公司
Entergy的季度营收约是第一太阳能的1.8倍（$3.0B vs $1.7B），第一太阳能净利率更高（31.0% vs 8.1%，领先22.8%），第一太阳能同比增速更快（11.1% vs 7.9%），第一太阳能自由现金流更多（$1.1B vs $-909.7M），过去两年第一太阳能的营收复合增速更高（45.6% vs 2.9%）
Entergy是美国能源企业，主营电力生产及零售配送业务，服务覆盖美国南部腹地，总部设于路易斯安那州新奥尔良。公司为阿肯色、路易斯安那、密西西比、得克萨斯四州共300万用户供电，发电装机容量约24000兆瓦，年营收110亿美元，员工规模超12000人。
第一太阳能是美国上市光伏面板制造商，1990年成立时名为Solar Cells, Inc.，1999年被True North Partners收购后改为现名。公司采用碲化镉（CdTe）半导体技术生产刚性薄膜光伏面板，旗下所有生产基地均提供退役面板回收服务。
ETR vs FSLR — 直观对比
营收规模更大
ETR
是对方的1.8倍
$1.7B
营收增速更快
FSLR
高出3.2%
7.9%
净利率更高
FSLR
高出22.8%
8.1%
自由现金流更多
FSLR
多$2.0B
$-909.7M
两年增速更快
FSLR
近两年复合增速
2.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.0B | $1.7B |
| 净利润 | $240.5M | $520.9M |
| 毛利率 | — | 39.5% |
| 营业利润率 | 18.4% | 32.6% |
| 净利率 | 8.1% | 31.0% |
| 营收同比 | 7.9% | 11.1% |
| 净利润同比 | -16.2% | 32.5% |
| 每股收益（稀释后） | $0.51 | $4.84 |
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ETRFSLR
| Q4 25 | $3.0B | $1.7B | ||
| Q3 25 | $3.8B | $1.6B | ||
| Q2 25 | $3.3B | $1.1B | ||
| Q1 25 | $2.8B | $844.6M | ||
| Q4 24 | $2.7B | $1.5B | ||
| Q3 24 | $3.4B | $887.7M | ||
| Q2 24 | $3.0B | $1.0B | ||
| Q1 24 | $2.8B | $794.1M |
净利润ETRFSLR
| Q4 25 | $240.5M | $520.9M | ||
| Q3 25 | $698.4M | $455.9M | ||
| Q2 25 | $472.0M | $341.9M | ||
| Q1 25 | $362.4M | $209.5M | ||
| Q4 24 | $287.2M | $393.1M | ||
| Q3 24 | $645.8M | $313.0M | ||
| Q2 24 | $51.7M | $349.4M | ||
| Q1 24 | $76.5M | $236.6M |
毛利率ETRFSLR
| Q4 25 | — | 39.5% | ||
| Q3 25 | — | 38.3% | ||
| Q2 25 | — | 45.6% | ||
| Q1 25 | — | 40.8% | ||
| Q4 24 | — | 37.5% | ||
| Q3 24 | — | 50.2% | ||
| Q2 24 | — | 49.4% | ||
| Q1 24 | — | 43.6% |
营业利润率ETRFSLR
| Q4 25 | 18.4% | 32.6% | ||
| Q3 25 | 29.4% | 29.2% | ||
| Q2 25 | 25.2% | 33.0% | ||
| Q1 25 | 24.6% | 26.2% | ||
| Q4 24 | 24.4% | 30.2% | ||
| Q3 24 | 33.2% | 36.3% | ||
| Q2 24 | 20.9% | 36.9% | ||
| Q1 24 | 8.5% | 30.6% |
净利率ETRFSLR
| Q4 25 | 8.1% | 31.0% | ||
| Q3 25 | 18.3% | 28.6% | ||
| Q2 25 | 14.2% | 31.2% | ||
| Q1 25 | 12.7% | 24.8% | ||
| Q4 24 | 10.5% | 26.0% | ||
| Q3 24 | 19.1% | 35.3% | ||
| Q2 24 | 1.8% | 34.6% | ||
| Q1 24 | 2.7% | 29.8% |
每股收益（稀释后）ETRFSLR
| Q4 25 | $0.51 | $4.84 | ||
| Q3 25 | $1.53 | $4.24 | ||
| Q2 25 | $1.05 | $3.18 | ||
| Q1 25 | $0.82 | $1.95 | ||
| Q4 24 | $0.66 | $3.66 | ||
| Q3 24 | $1.50 | $2.91 | ||
| Q2 24 | $0.11 | $3.25 | ||
| Q1 24 | $0.18 | $2.20 |
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 | $1.9B | $2.8B |
| 总债务越低越好 | $30.3B | — |
| 股东权益账面价值 | $16.9B | $9.5B |
| 总资产 | $71.9B | $13.3B |
| 负债/权益比越低杠杆越低 | 1.79× | — |
8季度趋势，按日历期对齐
现金及短期投资ETRFSLR
| Q4 25 | $1.9B | $2.8B | ||
| Q3 25 | $1.5B | $2.0B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.5B | $837.6M | ||
| Q4 24 | $859.7M | $1.6B | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $1.4B | $1.7B | ||
| Q1 24 | $1.3B | $1.7B |
总债务ETRFSLR
| Q4 25 | $30.3B | — | ||
| Q3 25 | $29.0B | — | ||
| Q2 25 | $29.9B | — | ||
| Q1 25 | $29.6B | — | ||
| Q4 24 | $28.0B | — | ||
| Q3 24 | $27.9B | — | ||
| Q2 24 | $27.8B | — | ||
| Q1 24 | $26.5B | — |
股东权益ETRFSLR
| Q4 25 | $16.9B | $9.5B | ||
| Q3 25 | $16.7B | $9.0B | ||
| Q2 25 | $16.2B | $8.5B | ||
| Q1 25 | $15.2B | $8.2B | ||
| Q4 24 | $15.1B | $8.0B | ||
| Q3 24 | $15.0B | $7.6B | ||
| Q2 24 | $14.6B | $7.3B | ||
| Q1 24 | $14.5B | $6.9B |
总资产ETRFSLR
| Q4 25 | $71.9B | $13.3B | ||
| Q3 25 | $69.8B | $13.5B | ||
| Q2 25 | $68.4B | $12.9B | ||
| Q1 25 | $66.6B | $12.1B | ||
| Q4 24 | $64.8B | $12.1B | ||
| Q3 24 | $64.5B | $11.4B | ||
| Q2 24 | $62.8B | $11.0B | ||
| Q1 24 | $61.6B | $10.8B |
负债/权益比ETRFSLR
| Q4 25 | 1.79× | — | ||
| Q3 25 | 1.74× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.95× | — | ||
| Q4 24 | 1.86× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.91× | — | ||
| Q1 24 | 1.83× | — |
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 | $1.2B | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $-909.7M | $1.1B |
| 自由现金流率自由现金流/营收 | -30.7% | 63.6% |
| 资本支出强度资本支出/营收 | 71.9% | 10.2% |
| 现金转化率经营现金流/净利润 | 5.06× | 2.38× |
| 过去12个月自由现金流最近4个季度 | $-2.5B | $1.2B |
8季度趋势，按日历期对齐
经营现金流ETRFSLR
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $2.1B | $1.3B | ||
| Q2 25 | $1.3B | $149.6M | ||
| Q1 25 | $536.2M | $-608.0M | ||
| Q4 24 | $1.4B | $811.0M | ||
| Q3 24 | $1.6B | $-53.7M | ||
| Q2 24 | $1.0B | $193.0M | ||
| Q1 24 | $521.1M | $267.7M |
自由现金流ETRFSLR
| Q4 25 | $-909.7M | $1.1B | ||
| Q3 25 | $246.0M | $1.1B | ||
| Q2 25 | $-746.6M | $-138.6M | ||
| Q1 25 | $-1.1B | $-813.9M | ||
| Q4 24 | $-193.8M | $497.5M | ||
| Q3 24 | $421.8M | $-487.7M | ||
| Q2 24 | $-137.8M | $-172.1M | ||
| Q1 24 | $-440.1M | $-145.7M |
自由现金流率ETRFSLR
| Q4 25 | -30.7% | 63.6% | ||
| Q3 25 | 6.5% | 67.1% | ||
| Q2 25 | -22.4% | -12.6% | ||
| Q1 25 | -39.5% | -96.4% | ||
| Q4 24 | -7.1% | 32.9% | ||
| Q3 24 | 12.4% | -54.9% | ||
| Q2 24 | -4.7% | -17.0% | ||
| Q1 24 | -15.7% | -18.4% |
资本支出强度ETRFSLR
| Q4 25 | 71.9% | 10.2% | ||
| Q3 25 | 49.5% | 12.8% | ||
| Q2 25 | 60.3% | 26.3% | ||
| Q1 25 | 58.3% | 24.4% | ||
| Q4 24 | 57.4% | 20.7% | ||
| Q3 24 | 33.7% | 48.9% | ||
| Q2 24 | 39.4% | 36.1% | ||
| Q1 24 | 34.4% | 52.1% |
现金转化率ETRFSLR
| Q4 25 | 5.06× | 2.38× | ||
| Q3 25 | 3.06× | 2.79× | ||
| Q2 25 | 2.67× | 0.44× | ||
| Q1 25 | 1.48× | -2.90× | ||
| Q4 24 | 4.80× | 2.06× | ||
| Q3 24 | 2.42× | -0.17× | ||
| Q2 24 | 19.82× | 0.55× | ||
| Q1 24 | 6.81× | 1.13× |
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
ETR
| Electricity Us Regulated | $2.9B | 100% |
| Other | $13.7M | 0% |
FSLR
暂无分部数据
