vs
Expand Energy（EXE）与Block, Inc.（XYZ）财务数据对比。点击上方公司名可切换其他公司
Block, Inc.的季度营收约是Expand Energy的1.9倍（$6.3B vs $3.3B），Expand Energy净利率更高（16.9% vs 1.9%，领先15.0%），Expand Energy同比增速更快（63.5% vs 3.6%），Block, Inc.自由现金流更多（$579.8M vs $215.0M），过去两年Expand Energy的营收复合增速更高（29.6% vs 2.4%）
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。
Block, Inc.是美国科技企业，面向消费者与商户提供金融服务，由杰克·多尔西于2009年创立，是美国销售点系统领域的市场领导者。截至2024年，平台服务5700万用户及400万商户，年支付处理规模达2410亿美元。
EXE vs XYZ — 直观对比
营收规模更大
XYZ
是对方的1.9倍
$3.3B
营收增速更快
EXE
高出59.9%
3.6%
净利率更高
EXE
高出15.0%
1.9%
自由现金流更多
XYZ
多$364.8M
$215.0M
两年增速更快
EXE
近两年复合增速
2.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $6.3B |
| 净利润 | $553.0M | $115.8M |
| 毛利率 | — | 45.9% |
| 营业利润率 | 22.8% | 7.8% |
| 净利率 | 16.9% | 1.9% |
| 营收同比 | 63.5% | 3.6% |
| 净利润同比 | 238.6% | -94.1% |
| 每股收益（稀释后） | $2.33 | $0.19 |
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EXEXYZ
| Q4 25 | $3.3B | $6.3B | ||
| Q3 25 | $3.0B | $6.1B | ||
| Q2 25 | $3.7B | $6.1B | ||
| Q1 25 | $2.2B | $5.8B | ||
| Q4 24 | $2.0B | $6.0B | ||
| Q3 24 | $648.0M | $6.0B | ||
| Q2 24 | — | $6.2B | ||
| Q1 24 | $1.1B | $6.0B |
净利润EXEXYZ
| Q4 25 | $553.0M | $115.8M | ||
| Q3 25 | $547.0M | $461.5M | ||
| Q2 25 | $968.0M | $538.5M | ||
| Q1 25 | $-249.0M | $189.9M | ||
| Q4 24 | $-399.0M | $1.9B | ||
| Q3 24 | $-114.0M | $283.8M | ||
| Q2 24 | — | $195.3M | ||
| Q1 24 | $26.0M | $472.0M |
毛利率EXEXYZ
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 43.5% | ||
| Q2 25 | — | 41.9% | ||
| Q1 25 | — | 39.7% | ||
| Q4 24 | — | 38.3% | ||
| Q3 24 | — | 37.6% | ||
| Q2 24 | — | 36.3% | ||
| Q1 24 | — | 35.2% |
营业利润率EXEXYZ
| Q4 25 | 22.8% | 7.8% | ||
| Q3 25 | 24.4% | 6.7% | ||
| Q2 25 | 34.4% | 8.0% | ||
| Q1 25 | -12.2% | 5.7% | ||
| Q4 24 | -19.3% | 0.2% | ||
| Q3 24 | -23.9% | 5.4% | ||
| Q2 24 | — | 5.0% | ||
| Q1 24 | 3.0% | 4.2% |
净利率EXEXYZ
| Q4 25 | 16.9% | 1.9% | ||
| Q3 25 | 18.4% | 7.5% | ||
| Q2 25 | 26.2% | 8.9% | ||
| Q1 25 | -11.3% | 3.3% | ||
| Q4 24 | -19.9% | 32.3% | ||
| Q3 24 | -17.6% | 4.7% | ||
| Q2 24 | — | 3.2% | ||
| Q1 24 | 2.4% | 7.9% |
每股收益（稀释后）EXEXYZ
| Q4 25 | $2.33 | $0.19 | ||
| Q3 25 | $2.28 | $0.74 | ||
| Q2 25 | $4.02 | $0.87 | ||
| Q1 25 | $-1.06 | $0.30 | ||
| Q4 24 | $-2.15 | $3.06 | ||
| Q3 24 | $-0.85 | $0.45 | ||
| Q2 24 | — | $0.31 | ||
| Q1 24 | $0.18 | $0.74 |
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 | $6.6B |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $18.6B | $22.2B |
| 总资产 | $28.3B | $39.5B |
| 负债/权益比越低杠杆越低 | 0.27× | — |
8季度趋势，按日历期对齐
现金及短期投资EXEXYZ
| Q4 25 | $616.0M | $6.6B | ||
| Q3 25 | $613.0M | $8.3B | ||
| Q2 25 | $731.0M | $6.4B | ||
| Q1 25 | $349.0M | $7.1B | ||
| Q4 24 | $317.0M | $8.1B | ||
| Q3 24 | $1.0B | $8.3B | ||
| Q2 24 | — | $7.8B | ||
| Q1 24 | $1.2B | $5.8B |
总债务EXEXYZ
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.0B | $7.3B | ||
| Q2 25 | $5.1B | $5.1B | ||
| Q1 25 | $5.2B | $5.1B | ||
| Q4 24 | $5.7B | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | — | $4.1B |
股东权益EXEXYZ
| Q4 25 | $18.6B | $22.2B | ||
| Q3 25 | $18.1B | $22.5B | ||
| Q2 25 | $17.9B | $22.2B | ||
| Q1 25 | $17.2B | $21.5B | ||
| Q4 24 | $17.6B | $21.3B | ||
| Q3 24 | $10.2B | $19.9B | ||
| Q2 24 | — | $19.3B | ||
| Q1 24 | $10.7B | $19.0B |
总资产EXEXYZ
| Q4 25 | $28.3B | $39.5B | ||
| Q3 25 | $27.6B | $39.2B | ||
| Q2 25 | $27.8B | $36.9B | ||
| Q1 25 | $27.9B | $36.4B | ||
| Q4 24 | $27.9B | $36.8B | ||
| Q3 24 | $13.4B | $36.4B | ||
| Q2 24 | — | $37.5B | ||
| Q1 24 | $14.0B | $35.6B |
负债/权益比EXEXYZ
| Q4 25 | 0.27× | — | ||
| Q3 25 | 0.28× | 0.32× | ||
| Q2 25 | 0.29× | 0.23× | ||
| Q1 25 | 0.30× | 0.24× | ||
| Q4 24 | 0.32× | 0.29× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.22× |
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 | $621.0M |
| 自由现金流经营现金流 - 资本支出 | $215.0M | $579.8M |
| 自由现金流率自由现金流/营收 | 6.6% | 9.3% |
| 资本支出强度资本支出/营收 | 22.6% | 0.7% |
| 现金转化率经营现金流/净利润 | 1.73× | 5.36× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $2.4B |
8季度趋势，按日历期对齐
经营现金流EXEXYZ
| Q4 25 | $956.0M | $621.0M | ||
| Q3 25 | $1.2B | $1.5B | ||
| Q2 25 | $1.3B | $374.3M | ||
| Q1 25 | $1.1B | $133.3M | ||
| Q4 24 | $382.0M | $13.8M | ||
| Q3 24 | $422.0M | $684.8M | ||
| Q2 24 | — | $519.4M | ||
| Q1 24 | $552.0M | $489.4M |
自由现金流EXEXYZ
| Q4 25 | $215.0M | $579.8M | ||
| Q3 25 | $426.0M | $1.4B | ||
| Q2 25 | $665.0M | $343.0M | ||
| Q1 25 | $533.0M | $101.5M | ||
| Q4 24 | $-154.0M | $-13.2M | ||
| Q3 24 | $124.0M | $628.2M | ||
| Q2 24 | — | $481.0M | ||
| Q1 24 | $131.0M | $457.4M |
自由现金流率EXEXYZ
| Q4 25 | 6.6% | 9.3% | ||
| Q3 25 | 14.4% | 22.9% | ||
| Q2 25 | 18.0% | 5.7% | ||
| Q1 25 | 24.3% | 1.8% | ||
| Q4 24 | -7.7% | -0.2% | ||
| Q3 24 | 19.1% | 10.5% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | 12.1% | 7.7% |
资本支出强度EXEXYZ
| Q4 25 | 22.6% | 0.7% | ||
| Q3 25 | 26.1% | 0.8% | ||
| Q2 25 | 17.8% | 0.5% | ||
| Q1 25 | 25.6% | 0.6% | ||
| Q4 24 | 26.8% | 0.4% | ||
| Q3 24 | 46.0% | 0.9% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | 38.9% | 0.5% |
现金转化率EXEXYZ
| Q4 25 | 1.73× | 5.36× | ||
| Q3 25 | 2.20× | 3.14× | ||
| Q2 25 | 1.37× | 0.70× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | — | 0.01× | ||
| Q3 24 | — | 2.41× | ||
| Q2 24 | — | 2.66× | ||
| Q1 24 | 21.23× | 1.04× |
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% |
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
