vs
Expand Energy（EXE）与威富集团（VFC）财务数据对比。点击上方公司名可切换其他公司
Expand Energy的季度营收约是威富集团的1.1倍（$3.3B vs $2.9B），Expand Energy净利率更高（16.9% vs 10.5%，领先6.4%），Expand Energy同比增速更快（63.5% vs 1.5%），威富集团自由现金流更多（$977.9M vs $215.0M），过去两年Expand Energy的营收复合增速更高（29.6% vs 10.1%）
Expand Energy是按净日产量统计的美国最大独立天然气生产商，总部位于俄克拉荷马城，运营范围覆盖宾夕法尼亚州、西弗吉尼亚州境内马塞勒斯地层的阿巴拉契亚盆地，以及路易斯安那州西北部的海恩斯维尔页岩区块。
威富集团前身为F.W.伍尔沃斯公司，是全球知名零售企业，也是五分一角平价商店业态的先驱之一。作为美国乃至全球最成功的平价零售企业之一，它曾引领行业发展潮流，构建了如今全球各地门店普遍遵循的现代零售模式。
EXE vs VFC — 直观对比
营收规模更大
EXE
是对方的1.1倍
$2.9B
营收增速更快
EXE
高出62.0%
1.5%
净利率更高
EXE
高出6.4%
10.5%
自由现金流更多
VFC
多$762.9M
$215.0M
两年增速更快
EXE
近两年复合增速
10.1%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $2.9B |
| 净利润 | $553.0M | $300.8M |
| 毛利率 | — | 56.6% |
| 营业利润率 | 22.8% | 10.1% |
| 净利率 | 16.9% | 10.5% |
| 营收同比 | 63.5% | 1.5% |
| 净利润同比 | 238.6% | 79.3% |
| 每股收益（稀释后） | $2.33 | $0.76 |
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EXEVFC
| Q4 25 | $3.3B | $2.9B | ||
| Q3 25 | $3.0B | $2.8B | ||
| Q2 25 | $3.7B | $1.8B | ||
| Q1 25 | $2.2B | $2.0B | ||
| Q4 24 | $2.0B | $2.8B | ||
| Q3 24 | $648.0M | $2.8B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | $1.1B | $2.4B |
净利润EXEVFC
| Q4 25 | $553.0M | $300.8M | ||
| Q3 25 | $547.0M | $189.8M | ||
| Q2 25 | $968.0M | $-116.4M | ||
| Q1 25 | $-249.0M | $-150.8M | ||
| Q4 24 | $-399.0M | $167.8M | ||
| Q3 24 | $-114.0M | $52.2M | ||
| Q2 24 | — | $-258.9M | ||
| Q1 24 | $26.0M | $-418.3M |
毛利率EXEVFC
| Q4 25 | — | 56.6% | ||
| Q3 25 | — | 52.2% | ||
| Q2 25 | — | 53.9% | ||
| Q1 25 | — | 52.7% | ||
| Q4 24 | — | 56.3% | ||
| Q3 24 | — | 52.2% | ||
| Q2 24 | — | 52.0% | ||
| Q1 24 | — | 48.4% |
营业利润率EXEVFC
| Q4 25 | 22.8% | 10.1% | ||
| Q3 25 | 24.4% | 11.2% | ||
| Q2 25 | 34.4% | -4.9% | ||
| Q1 25 | -12.2% | 2.2% | ||
| Q4 24 | -19.3% | 8.0% | ||
| Q3 24 | -23.9% | 9.9% | ||
| Q2 24 | — | -12.6% | ||
| Q1 24 | 3.0% | -15.0% |
净利率EXEVFC
| Q4 25 | 16.9% | 10.5% | ||
| Q3 25 | 18.4% | 6.8% | ||
| Q2 25 | 26.2% | -6.6% | ||
| Q1 25 | -11.3% | -7.5% | ||
| Q4 24 | -19.9% | 5.9% | ||
| Q3 24 | -17.6% | 1.9% | ||
| Q2 24 | — | -13.6% | ||
| Q1 24 | 2.4% | -17.6% |
每股收益（稀释后）EXEVFC
| Q4 25 | $2.33 | $0.76 | ||
| Q3 25 | $2.28 | $0.48 | ||
| Q2 25 | $4.02 | $-0.30 | ||
| Q1 25 | $-1.06 | $-0.37 | ||
| Q4 24 | $-2.15 | $0.43 | ||
| Q3 24 | $-0.85 | $0.13 | ||
| Q2 24 | — | $-0.67 | ||
| Q1 24 | $0.18 | $-1.07 |
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 | $616.0M | $1.5B |
| 总债务越低越好 | $5.0B | $3.6B |
| 股东权益账面价值 | $18.6B | $1.8B |
| 总资产 | $28.3B | $10.4B |
| 负债/权益比越低杠杆越低 | 0.27× | 1.99× |
8季度趋势，按日历期对齐
现金及短期投资EXEVFC
| Q4 25 | $616.0M | $1.5B | ||
| Q3 25 | $613.0M | $419.1M | ||
| Q2 25 | $731.0M | $642.4M | ||
| Q1 25 | $349.0M | $429.4M | ||
| Q4 24 | $317.0M | $1.4B | ||
| Q3 24 | $1.0B | $492.2M | ||
| Q2 24 | — | $637.4M | ||
| Q1 24 | $1.2B | $674.6M |
总债务EXEVFC
| Q4 25 | $5.0B | $3.6B | ||
| Q3 25 | $5.0B | $3.5B | ||
| Q2 25 | $5.1B | $3.6B | ||
| Q1 25 | $5.2B | $3.4B | ||
| Q4 24 | $5.7B | $3.9B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | — | $4.7B |
股东权益EXEVFC
| Q4 25 | $18.6B | $1.8B | ||
| Q3 25 | $18.1B | $1.5B | ||
| Q2 25 | $17.9B | $1.3B | ||
| Q1 25 | $17.2B | $1.5B | ||
| Q4 24 | $17.6B | $1.7B | ||
| Q3 24 | $10.2B | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | $10.7B | $1.7B |
总资产EXEVFC
| Q4 25 | $28.3B | $10.4B | ||
| Q3 25 | $27.6B | $10.6B | ||
| Q2 25 | $27.8B | $10.2B | ||
| Q1 25 | $27.9B | $9.4B | ||
| Q4 24 | $27.9B | $10.6B | ||
| Q3 24 | $13.4B | $12.2B | ||
| Q2 24 | — | $11.5B | ||
| Q1 24 | $14.0B | $11.6B |
负债/权益比EXEVFC
| Q4 25 | 0.27× | 1.99× | ||
| Q3 25 | 0.28× | 2.40× | ||
| Q2 25 | 0.29× | 2.76× | ||
| Q1 25 | 0.30× | 2.30× | ||
| Q4 24 | 0.32× | 2.31× | ||
| Q3 24 | — | 2.86× | ||
| Q2 24 | — | 2.84× | ||
| Q1 24 | — | 2.84× |
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 | $956.0M | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $215.0M | $977.9M |
| 自由现金流率自由现金流/营收 | 6.6% | 34.0% |
| 资本支出强度资本支出/营收 | 22.6% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.73× | 3.36× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $357.6M |
8季度趋势，按日历期对齐
经营现金流EXEVFC
| Q4 25 | $956.0M | $1.0B | ||
| Q3 25 | $1.2B | $-227.0M | ||
| Q2 25 | $1.3B | $-145.5M | ||
| Q1 25 | $1.1B | $-171.1M | ||
| Q4 24 | $382.0M | $918.1M | ||
| Q3 24 | $422.0M | $-301.6M | ||
| Q2 24 | — | $19.8M | ||
| Q1 24 | $552.0M | — |
自由现金流EXEVFC
| Q4 25 | $215.0M | $977.9M | ||
| Q3 25 | $426.0M | $-253.5M | ||
| Q2 25 | $665.0M | $-173.7M | ||
| Q1 25 | $533.0M | $-193.0M | ||
| Q4 24 | $-154.0M | $899.7M | ||
| Q3 24 | $124.0M | $-322.4M | ||
| Q2 24 | — | $-5.4M | ||
| Q1 24 | $131.0M | — |
自由现金流率EXEVFC
| Q4 25 | 6.6% | 34.0% | ||
| Q3 25 | 14.4% | -9.0% | ||
| Q2 25 | 18.0% | -9.9% | ||
| Q1 25 | 24.3% | -9.6% | ||
| Q4 24 | -7.7% | 31.7% | ||
| Q3 24 | 19.1% | -11.7% | ||
| Q2 24 | — | -0.3% | ||
| Q1 24 | 12.1% | — |
资本支出强度EXEVFC
| Q4 25 | 22.6% | 1.1% | ||
| Q3 25 | 26.1% | 0.9% | ||
| Q2 25 | 17.8% | 1.6% | ||
| Q1 25 | 25.6% | 1.1% | ||
| Q4 24 | 26.8% | 0.6% | ||
| Q3 24 | 46.0% | 0.8% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | 38.9% | — |
现金转化率EXEVFC
| Q4 25 | 1.73× | 3.36× | ||
| Q3 25 | 2.20× | -1.20× | ||
| Q2 25 | 1.37× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.47× | ||
| Q3 24 | — | -5.78× | ||
| Q2 24 | — | — | ||
| Q1 24 | 21.23× | — |
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
EXE
| Oil And Gas | $2.3B | 70% |
| Natural Gas Marketing Sales | $734.0M | 22% |
| Natural Gas Liquids Sales | $174.0M | 5% |
| Natural Gas Liquids Marketing Sales | $34.0M | 1% |
| Oil Marketing Sales | $31.0M | 1% |
VFC
| Outdoor | $1.9B | 67% |
| Sales Channel Through Intermediary | $813.4M | 28% |
| Other | $136.3M | 5% |
