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Exelon（EXC）与Waste Management（WM）财务数据对比。点击上方公司名可切换其他公司
Waste Management的季度营收约是Exelon的1.2倍（$6.2B vs $5.4B），Waste Management同比增速更快（3.5% vs -19.4%），过去两年Waste Management的营收复合增速更高（7.4% vs 0.5%）
Exelon是总部位于美国芝加哥、在宾夕法尼亚州注册的公用事业企业，按营收计算为美国最大的电力母公司，同时是美国规模最大的受监管电力公用事业公司，服务约1000万用户，位列《财富》世界500强第187位。
Waste Management是专业的废弃物管理服务提供商，业务覆盖废弃物从产生到最终处置的全流程，包含垃圾收集、运输、处理、处置等核心环节，同时涉及废弃物管理流程监督、相关法规合规、技术应用及商业机制优化等相关业务。
EXC vs WM — 直观对比
营收规模更大
WM
是对方的1.2倍
$5.4B
营收增速更快
WM
高出22.9%
-19.4%
两年增速更快
WM
近两年复合增速
0.5%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $6.2B |
| 净利润 | — | $723.0M |
| 毛利率 | — | — |
| 营业利润率 | 21.9% | 17.9% |
| 净利率 | — | 11.6% |
| 营收同比 | -19.4% | 3.5% |
| 净利润同比 | — | 13.5% |
| 每股收益（稀释后） | — | $1.79 |
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EXCWM
| Q1 26 | $5.4B | $6.2B | ||
| Q4 25 | $5.4B | $6.3B | ||
| Q3 25 | $6.7B | $6.4B | ||
| Q2 25 | $5.4B | $6.4B | ||
| Q1 25 | $6.7B | $6.0B | ||
| Q4 24 | $5.5B | $5.9B | ||
| Q3 24 | $6.2B | $5.6B | ||
| Q2 24 | $5.4B | $5.4B |
净利润EXCWM
| Q1 26 | — | $723.0M | ||
| Q4 25 | $594.0M | $742.0M | ||
| Q3 25 | $875.0M | $603.0M | ||
| Q2 25 | $391.0M | $726.0M | ||
| Q1 25 | $908.0M | $637.0M | ||
| Q4 24 | $647.0M | $598.0M | ||
| Q3 24 | $707.0M | $760.0M | ||
| Q2 24 | $448.0M | $680.0M |
毛利率EXCWM
| Q1 26 | — | — | ||
| Q4 25 | — | 41.5% | ||
| Q3 25 | — | 40.5% | ||
| Q2 25 | — | 40.3% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 39.7% | ||
| Q3 24 | — | 39.4% | ||
| Q2 24 | — | 39.1% |
营业利润率EXCWM
| Q1 26 | 21.9% | 17.9% | ||
| Q4 25 | 21.9% | 18.3% | ||
| Q3 25 | 22.4% | 15.3% | ||
| Q2 25 | 17.1% | 17.9% | ||
| Q1 25 | 22.9% | 16.8% | ||
| Q4 24 | 20.0% | 15.6% | ||
| Q3 24 | 19.4% | 20.0% | ||
| Q2 24 | 17.0% | 18.7% |
净利率EXCWM
| Q1 26 | — | 11.6% | ||
| Q4 25 | 11.0% | 11.8% | ||
| Q3 25 | 13.0% | 9.4% | ||
| Q2 25 | 7.2% | 11.3% | ||
| Q1 25 | 13.5% | 10.6% | ||
| Q4 24 | 11.8% | 10.1% | ||
| Q3 24 | 11.5% | 13.5% | ||
| Q2 24 | 8.4% | 12.6% |
每股收益（稀释后）EXCWM
| Q1 26 | — | $1.79 | ||
| Q4 25 | — | $1.83 | ||
| Q3 25 | $0.86 | $1.49 | ||
| Q2 25 | $0.39 | $1.80 | ||
| Q1 25 | $0.90 | $1.58 | ||
| Q4 24 | — | $1.49 | ||
| Q3 24 | $0.70 | $1.88 | ||
| Q2 24 | $0.45 | $1.69 |
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 | $626.0M | $158.0M |
| 总债务越低越好 | $49.4B | $22.9B |
| 股东权益账面价值 | $28.8B | $10.0B |
| 总资产 | $116.6B | $45.7B |
| 负债/权益比越低杠杆越低 | 1.72× | 2.28× |
8季度趋势，按日历期对齐
现金及短期投资EXCWM
| Q1 26 | $626.0M | $158.0M | ||
| Q4 25 | $626.0M | $201.0M | ||
| Q3 25 | $1.5B | $175.0M | ||
| Q2 25 | $724.0M | $440.0M | ||
| Q1 25 | $1.0B | $216.0M | ||
| Q4 24 | $357.0M | $414.0M | ||
| Q3 24 | $616.0M | $614.0M | ||
| Q2 24 | $934.0M | $172.0M |
总债务EXCWM
| Q1 26 | $49.4B | $22.9B | ||
| Q4 25 | $49.4B | $22.2B | ||
| Q3 25 | — | $22.5B | ||
| Q2 25 | — | $23.1B | ||
| Q1 25 | — | $22.9B | ||
| Q4 24 | $44.7B | $22.5B | ||
| Q3 24 | — | $16.0B | ||
| Q2 24 | — | $16.5B |
股东权益EXCWM
| Q1 26 | $28.8B | $10.0B | ||
| Q4 25 | $28.8B | $10.0B | ||
| Q3 25 | $28.1B | $9.5B | ||
| Q2 25 | $27.6B | $9.2B | ||
| Q1 25 | $27.6B | $8.7B | ||
| Q4 24 | $26.9B | $8.3B | ||
| Q3 24 | $26.6B | $8.0B | ||
| Q2 24 | $26.2B | $7.5B |
总资产EXCWM
| Q1 26 | $116.6B | $45.7B | ||
| Q4 25 | $116.6B | $45.8B | ||
| Q3 25 | $113.5B | $45.6B | ||
| Q2 25 | $111.1B | $45.7B | ||
| Q1 25 | $109.5B | $44.5B | ||
| Q4 24 | $107.8B | $44.6B | ||
| Q3 24 | $106.1B | $34.7B | ||
| Q2 24 | $105.1B | $34.0B |
负债/权益比EXCWM
| Q1 26 | 1.72× | 2.28× | ||
| Q4 25 | 1.72× | 2.22× | ||
| Q3 25 | — | 2.36× | ||
| Q2 25 | — | 2.51× | ||
| Q1 25 | — | 2.65× | ||
| Q4 24 | 1.66× | 2.73× | ||
| Q3 24 | — | 2.00× | ||
| Q2 24 | — | 2.21× |
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 | — | $1.5B |
| 自由现金流经营现金流 - 资本支出 | — | $981.0M |
| 自由现金流率自由现金流/营收 | — | 15.8% |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 2.08× |
| 过去12个月自由现金流最近4个季度 | — | $3.4B |
8季度趋势，按日历期对齐
经营现金流EXCWM
| Q1 26 | — | $1.5B | ||
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | $2.3B | $1.6B | ||
| Q2 25 | $1.5B | $1.5B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.4B | $1.5B | ||
| Q3 24 | $1.7B | $1.4B | ||
| Q2 24 | $1.5B | $1.2B |
自由现金流EXCWM
| Q1 26 | — | $981.0M | ||
| Q4 25 | $-1.2B | $810.0M | ||
| Q3 25 | $163.0M | $816.0M | ||
| Q2 25 | $-502.0M | $813.0M | ||
| Q1 25 | $-746.0M | $377.0M | ||
| Q4 24 | $-510.0M | $396.0M | ||
| Q3 24 | $-6.0M | $577.0M | ||
| Q2 24 | $-237.0M | $487.0M |
自由现金流率EXCWM
| Q1 26 | — | 15.8% | ||
| Q4 25 | -22.0% | 12.8% | ||
| Q3 25 | 2.4% | 12.7% | ||
| Q2 25 | -9.3% | 12.6% | ||
| Q1 25 | -11.1% | 6.3% | ||
| Q4 24 | -9.3% | 6.7% | ||
| Q3 24 | -0.1% | 10.3% | ||
| Q2 24 | -4.4% | 9.0% |
资本支出强度EXCWM
| Q1 26 | — | — | ||
| Q4 25 | 45.0% | 14.1% | ||
| Q3 25 | 31.9% | 12.0% | ||
| Q2 25 | 37.1% | 11.4% | ||
| Q1 25 | 29.0% | 13.8% | ||
| Q4 24 | 35.4% | 18.9% | ||
| Q3 24 | 27.5% | 13.9% | ||
| Q2 24 | 31.7% | 12.3% |
现金转化率EXCWM
| Q1 26 | — | 2.08× | ||
| Q4 25 | 2.09× | 2.29× | ||
| Q3 25 | 2.63× | 2.64× | ||
| Q2 25 | 3.86× | 2.13× | ||
| Q1 25 | 1.32× | 1.90× | ||
| Q4 24 | 2.20× | 2.53× | ||
| Q3 24 | 2.39× | 1.79× | ||
| Q2 24 | 3.26× | 1.70× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
