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FUELCELL ENERGY INC（FCEL）与READING INTERNATIONAL INC（RDI）财务数据对比。点击上方公司名可切换其他公司
FUELCELL ENERGY INC的季度营收约是READING INTERNATIONAL INC的1.1倍（$55.0M vs $50.3M），READING INTERNATIONAL INC净利率更高（-5.1% vs -54.3%，领先49.2%），FUELCELL ENERGY INC同比增速更快（11.5% vs -14.2%），READING INTERNATIONAL INC自由现金流更多（$4.1M vs $-23.9M），过去两年FUELCELL ENERGY INC的营收复合增速更高（81.6% vs 5.6%）
燃料电池能源公司是一家上市燃料电池企业，总部位于美国康涅狄格州丹伯里，公司主打基于熔融碳酸盐燃料电池技术的发电站业务，从事相关产品的设计、生产，同时还提供发电站运营及相关技术服务。
雷丁公司是总部位于美国费城的铁路企业，1924年起在宾夕法尼亚州东部及周边各州提供客运与货运运输服务，直至1976年被联合铁路公司收购。
FCEL vs RDI — 直观对比
营收规模更大
FCEL
是对方的1.1倍
$50.3M
营收增速更快
FCEL
高出25.7%
-14.2%
净利率更高
RDI
高出49.2%
-54.3%
自由现金流更多
RDI
多$28.0M
$-23.9M
两年增速更快
FCEL
近两年复合增速
5.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $55.0M | $50.3M |
| 净利润 | $-29.9M | $-2.6M |
| 毛利率 | -12.1% | — |
| 营业利润率 | -51.5% | -1.9% |
| 净利率 | -54.3% | -5.1% |
| 营收同比 | 11.5% | -14.2% |
| 净利润同比 | 27.9% | -14.5% |
| 每股收益（稀释后） | $-0.43 | $-0.11 |
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FCELRDI
| Q4 25 | $55.0M | $50.3M | ||
| Q3 25 | $46.7M | $52.2M | ||
| Q2 25 | $37.4M | $60.4M | ||
| Q1 25 | $19.0M | $40.2M | ||
| Q4 24 | $49.3M | $58.6M | ||
| Q3 24 | $23.7M | $60.1M | ||
| Q2 24 | $22.4M | $46.8M | ||
| Q1 24 | $16.7M | $45.1M |
净利润FCELRDI
| Q4 25 | $-29.9M | $-2.6M | ||
| Q3 25 | $-91.7M | $-4.2M | ||
| Q2 25 | $-38.0M | $-2.7M | ||
| Q1 25 | $-28.3M | $-4.8M | ||
| Q4 24 | $-41.4M | $-2.2M | ||
| Q3 24 | $-32.7M | $-7.0M | ||
| Q2 24 | $-32.1M | $-12.8M | ||
| Q1 24 | $-19.8M | $-13.2M |
毛利率FCELRDI
| Q4 25 | -12.1% | — | ||
| Q3 25 | -11.0% | — | ||
| Q2 25 | -25.2% | — | ||
| Q1 25 | -27.4% | — | ||
| Q4 24 | -22.1% | — | ||
| Q3 24 | -26.2% | — | ||
| Q2 24 | -31.6% | — | ||
| Q1 24 | -70.2% | — |
营业利润率FCELRDI
| Q4 25 | -51.5% | -1.9% | ||
| Q3 25 | -204.0% | -0.6% | ||
| Q2 25 | -95.7% | 4.8% | ||
| Q1 25 | -172.9% | -17.2% | ||
| Q4 24 | -83.2% | 2.6% | ||
| Q3 24 | -141.9% | -0.6% | ||
| Q2 24 | -184.5% | -16.4% | ||
| Q1 24 | -254.5% | -16.7% |
净利率FCELRDI
| Q4 25 | -54.3% | -5.1% | ||
| Q3 25 | -196.1% | -8.0% | ||
| Q2 25 | -101.7% | -4.4% | ||
| Q1 25 | -149.1% | -11.8% | ||
| Q4 24 | -84.0% | -3.8% | ||
| Q3 24 | -137.8% | -11.7% | ||
| Q2 24 | -143.4% | -27.4% | ||
| Q1 24 | -118.6% | -29.4% |
每股收益（稀释后）FCELRDI
| Q4 25 | $-0.43 | $-0.11 | ||
| Q3 25 | $-3.78 | $-0.18 | ||
| Q2 25 | $-1.79 | $-0.12 | ||
| Q1 25 | $-1.42 | $-0.21 | ||
| Q4 24 | $-2.29 | $-0.11 | ||
| Q3 24 | $-1.99 | $-0.31 | ||
| Q2 24 | $-2.18 | $-0.57 | ||
| Q1 24 | $-1.37 | $-0.59 |
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 | $278.1M | $10.5M |
| 总债务越低越好 | $103.8M | $185.1M |
| 股东权益账面价值 | $662.2M | $-18.2M |
| 总资产 | $932.1M | $434.9M |
| 负债/权益比越低杠杆越低 | 0.16× | — |
8季度趋势，按日历期对齐
现金及短期投资FCELRDI
| Q4 25 | $278.1M | $10.5M | ||
| Q3 25 | $174.7M | $8.1M | ||
| Q2 25 | $177.0M | $9.1M | ||
| Q1 25 | $208.4M | $5.9M | ||
| Q4 24 | $257.3M | $12.4M | ||
| Q3 24 | $267.2M | $10.1M | ||
| Q2 24 | $260.1M | $9.3M | ||
| Q1 24 | $297.5M | $7.5M |
总债务FCELRDI
| Q4 25 | $103.8M | $185.1M | ||
| Q3 25 | $106.4M | — | ||
| Q2 25 | $109.4M | — | ||
| Q1 25 | $112.3M | — | ||
| Q4 24 | $115.7M | $202.7M | ||
| Q3 24 | $112.7M | — | ||
| Q2 24 | $116.2M | — | ||
| Q1 24 | $107.2M | — |
股东权益FCELRDI
| Q4 25 | $662.2M | $-18.2M | ||
| Q3 25 | $556.2M | $-12.1M | ||
| Q2 25 | $609.2M | $-7.7M | ||
| Q1 25 | $635.2M | $-8.1M | ||
| Q4 24 | $656.9M | $-4.4M | ||
| Q3 24 | $675.8M | $1.6M | ||
| Q2 24 | $639.8M | $6.5M | ||
| Q1 24 | $663.9M | $18.0M |
总资产FCELRDI
| Q4 25 | $932.1M | $434.9M | ||
| Q3 25 | $830.5M | $435.2M | ||
| Q2 25 | $883.8M | $438.1M | ||
| Q1 25 | $907.5M | $441.0M | ||
| Q4 24 | $944.1M | $471.0M | ||
| Q3 24 | $948.9M | $495.7M | ||
| Q2 24 | $916.8M | $494.9M | ||
| Q1 24 | $923.2M | $494.9M |
负债/权益比FCELRDI
| Q4 25 | 0.16× | — | ||
| Q3 25 | 0.19× | — | ||
| Q2 25 | 0.18× | — | ||
| Q1 25 | 0.18× | — | ||
| Q4 24 | 0.18× | — | ||
| Q3 24 | 0.17× | — | ||
| Q2 24 | 0.18× | — | ||
| Q1 24 | 0.16× | — |
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 | $-22.9M | $4.3M |
| 自由现金流经营现金流 - 资本支出 | $-23.9M | $4.1M |
| 自由现金流率自由现金流/营收 | -43.4% | 8.2% |
| 资本支出强度资本支出/营收 | 1.8% | 0.3% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-143.9M | $-2.9M |
8季度趋势，按日历期对齐
经营现金流FCELRDI
| Q4 25 | $-22.9M | $4.3M | ||
| Q3 25 | $-26.8M | $295.0K | ||
| Q2 25 | $-29.9M | $1.6M | ||
| Q1 25 | $-45.7M | $-7.7M | ||
| Q4 24 | $5.8M | $8.0M | ||
| Q3 24 | $-63.4M | $1.3M | ||
| Q2 24 | $-37.1M | $-10.4M | ||
| Q1 24 | $-58.3M | $-2.8M |
自由现金流FCELRDI
| Q4 25 | $-23.9M | $4.1M | ||
| Q3 25 | $-32.1M | $-246.0K | ||
| Q2 25 | $-35.2M | $1.2M | ||
| Q1 25 | $-52.8M | $-8.0M | ||
| Q4 24 | $-4.7M | $7.0M | ||
| Q3 24 | $-76.8M | $-1.1M | ||
| Q2 24 | $-50.3M | $-10.6M | ||
| Q1 24 | $-68.8M | $-4.7M |
自由现金流率FCELRDI
| Q4 25 | -43.4% | 8.2% | ||
| Q3 25 | -68.6% | -0.5% | ||
| Q2 25 | -94.0% | 1.9% | ||
| Q1 25 | -277.8% | -19.8% | ||
| Q4 24 | -9.5% | 12.0% | ||
| Q3 24 | -324.0% | -1.8% | ||
| Q2 24 | -224.5% | -22.7% | ||
| Q1 24 | -412.4% | -10.4% |
资本支出强度FCELRDI
| Q4 25 | 1.8% | 0.3% | ||
| Q3 25 | 11.2% | 1.0% | ||
| Q2 25 | 14.1% | 0.6% | ||
| Q1 25 | 37.2% | 0.6% | ||
| Q4 24 | 21.4% | 1.7% | ||
| Q3 24 | 56.6% | 4.0% | ||
| Q2 24 | 58.9% | 0.5% | ||
| Q1 24 | 63.3% | 4.3% |
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
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
