vs
FUELCELL ENERGY INC（FCEL）与REGIS CORP（RGS）财务数据对比。点击上方公司名可切换其他公司
REGIS CORP的季度营收约是FUELCELL ENERGY INC的1.0倍（$57.1M vs $55.0M），REGIS CORP净利率更高（0.8% vs -54.3%，领先55.1%），REGIS CORP同比增速更快（22.3% vs 11.5%），REGIS CORP自由现金流更多（$891.0K vs $-23.9M），过去两年FUELCELL ENERGY INC的营收复合增速更高（81.6% vs 7.8%）
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。
瑞吉斯公司是一家美国美发沙龙运营商，总部位于明尼苏达州明尼阿波利斯市。截至2021年8月，该集团旗下拥有5563家加盟沙龙以及276家直营门店，是北美地区规模领先的美发沙龙连锁经营企业。
FCEL vs RGS — 直观对比
营收规模更大
RGS
是对方的1.0倍
$55.0M
营收增速更快
RGS
高出10.7%
11.5%
净利率更高
RGS
高出55.1%
-54.3%
自由现金流更多
RGS
多$24.8M
$-23.9M
两年增速更快
FCEL
近两年复合增速
7.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $55.0M | $57.1M |
| 净利润 | $-29.9M | $456.0K |
| 毛利率 | -12.1% | — |
| 营业利润率 | -51.5% | 10.8% |
| 净利率 | -54.3% | 0.8% |
| 营收同比 | 11.5% | 22.3% |
| 净利润同比 | 27.9% | -94.0% |
| 每股收益（稀释后） | $-0.43 | $0.16 |
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FCELRGS
| Q4 25 | $55.0M | $57.1M | ||
| Q3 25 | $46.7M | $59.0M | ||
| Q2 25 | $37.4M | $60.4M | ||
| Q1 25 | $19.0M | $57.0M | ||
| Q4 24 | $49.3M | $46.7M | ||
| Q3 24 | $23.7M | $46.1M | ||
| Q2 24 | $22.4M | $49.4M | ||
| Q1 24 | $16.7M | $49.2M |
净利润FCELRGS
| Q4 25 | $-29.9M | $456.0K | ||
| Q3 25 | $-91.7M | $1.4M | ||
| Q2 25 | $-38.0M | $116.5M | ||
| Q1 25 | $-28.3M | $250.0K | ||
| Q4 24 | $-41.4M | $7.6M | ||
| Q3 24 | $-32.7M | $-853.0K | ||
| Q2 24 | $-32.1M | $91.2M | ||
| Q1 24 | $-19.8M | $-2.3M |
毛利率FCELRGS
| 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FCELRGS
| Q4 25 | -51.5% | 10.8% | ||
| Q3 25 | -204.0% | 10.0% | ||
| Q2 25 | -95.7% | 12.1% | ||
| Q1 25 | -172.9% | 8.8% | ||
| Q4 24 | -83.2% | 11.8% | ||
| Q3 24 | -141.9% | 4.6% | ||
| Q2 24 | -184.5% | — | ||
| Q1 24 | -254.5% | 8.3% |
净利率FCELRGS
| Q4 25 | -54.3% | 0.8% | ||
| Q3 25 | -196.1% | 2.3% | ||
| Q2 25 | -101.7% | 192.9% | ||
| Q1 25 | -149.1% | 0.4% | ||
| Q4 24 | -84.0% | 16.4% | ||
| Q3 24 | -137.8% | -1.9% | ||
| Q2 24 | -143.4% | 184.7% | ||
| Q1 24 | -118.6% | -4.7% |
每股收益（稀释后）FCELRGS
| Q4 25 | $-0.43 | $0.16 | ||
| Q3 25 | $-3.78 | $0.49 | ||
| Q2 25 | $-1.79 | $43.67 | ||
| Q1 25 | $-1.42 | $0.08 | ||
| Q4 24 | $-2.29 | $2.71 | ||
| Q3 24 | $-1.99 | $-0.36 | ||
| Q2 24 | $-2.18 | $38.40 | ||
| Q1 24 | $-1.37 | $-1.00 |
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 | $18.4M |
| 总债务越低越好 | $103.8M | $113.3M |
| 股东权益账面价值 | $662.2M | $188.7M |
| 总资产 | $932.1M | $588.3M |
| 负债/权益比越低杠杆越低 | 0.16× | 0.60× |
8季度趋势，按日历期对齐
现金及短期投资FCELRGS
| Q4 25 | $278.1M | $18.4M | ||
| Q3 25 | $174.7M | $16.6M | ||
| Q2 25 | $177.0M | $17.0M | ||
| Q1 25 | $208.4M | $13.3M | ||
| Q4 24 | $257.3M | $10.2M | ||
| Q3 24 | $267.2M | $6.3M | ||
| Q2 24 | $260.1M | $10.1M | ||
| Q1 24 | $297.5M | $5.9M |
总债务FCELRGS
| Q4 25 | $103.8M | $113.3M | ||
| Q3 25 | $106.4M | $111.3M | ||
| Q2 25 | $109.4M | $110.8M | ||
| Q1 25 | $112.3M | $112.0M | ||
| Q4 24 | $115.7M | $111.5M | ||
| Q3 24 | $112.7M | $95.2M | ||
| Q2 24 | $116.2M | $99.5M | ||
| Q1 24 | $107.2M | $179.7M |
股东权益FCELRGS
| Q4 25 | $662.2M | $188.7M | ||
| Q3 25 | $556.2M | $187.6M | ||
| Q2 25 | $609.2M | $185.6M | ||
| Q1 25 | $635.2M | $68.6M | ||
| Q4 24 | $656.9M | $66.7M | ||
| Q3 24 | $675.8M | $56.4M | ||
| Q2 24 | $639.8M | $56.8M | ||
| Q1 24 | $663.9M | $-35.8M |
总资产FCELRGS
| Q4 25 | $932.1M | $588.3M | ||
| Q3 25 | $830.5M | $592.1M | ||
| Q2 25 | $883.8M | $599.0M | ||
| Q1 25 | $907.5M | $511.2M | ||
| Q4 24 | $944.1M | $530.1M | ||
| Q3 24 | $948.9M | $508.9M | ||
| Q2 24 | $916.8M | $530.5M | ||
| Q1 24 | $923.2M | $543.7M |
负债/权益比FCELRGS
| Q4 25 | 0.16× | 0.60× | ||
| Q3 25 | 0.19× | 0.59× | ||
| Q2 25 | 0.18× | 0.60× | ||
| Q1 25 | 0.18× | 1.63× | ||
| Q4 24 | 0.18× | 1.67× | ||
| Q3 24 | 0.17× | 1.69× | ||
| Q2 24 | 0.18× | 1.75× | ||
| 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 | $1.7M |
| 自由现金流经营现金流 - 资本支出 | $-23.9M | $891.0K |
| 自由现金流率自由现金流/营收 | -43.4% | 1.6% |
| 资本支出强度资本支出/营收 | 1.8% | 1.4% |
| 现金转化率经营现金流/净利润 | — | 3.65× |
| 过去12个月自由现金流最近4个季度 | $-143.9M | $14.9M |
8季度趋势，按日历期对齐
经营现金流FCELRGS
| Q4 25 | $-22.9M | $1.7M | ||
| Q3 25 | $-26.8M | $2.3M | ||
| Q2 25 | $-29.9M | $6.8M | ||
| Q1 25 | $-45.7M | $6.2M | ||
| Q4 24 | $5.8M | $2.1M | ||
| Q3 24 | $-63.4M | $-1.3M | ||
| Q2 24 | $-37.1M | $5.1M | ||
| Q1 24 | $-58.3M | $-277.0K |
自由现金流FCELRGS
| Q4 25 | $-23.9M | $891.0K | ||
| Q3 25 | $-32.1M | $1.9M | ||
| Q2 25 | $-35.2M | $6.2M | ||
| Q1 25 | $-52.8M | $5.9M | ||
| Q4 24 | $-4.7M | $1.7M | ||
| Q3 24 | $-76.8M | $-1.4M | ||
| Q2 24 | $-50.3M | $5.1M | ||
| Q1 24 | $-68.8M | $-326.0K |
自由现金流率FCELRGS
| Q4 25 | -43.4% | 1.6% | ||
| Q3 25 | -68.6% | 3.2% | ||
| Q2 25 | -94.0% | 10.3% | ||
| Q1 25 | -277.8% | 10.3% | ||
| Q4 24 | -9.5% | 3.6% | ||
| Q3 24 | -324.0% | -3.0% | ||
| Q2 24 | -224.5% | 10.3% | ||
| Q1 24 | -412.4% | -0.7% |
资本支出强度FCELRGS
| Q4 25 | 1.8% | 1.4% | ||
| Q3 25 | 11.2% | 0.7% | ||
| Q2 25 | 14.1% | 0.9% | ||
| Q1 25 | 37.2% | 0.6% | ||
| Q4 24 | 21.4% | 0.9% | ||
| Q3 24 | 56.6% | 0.0% | ||
| Q2 24 | 58.9% | 0.0% | ||
| Q1 24 | 63.3% | 0.1% |
现金转化率FCELRGS
| Q4 25 | — | 3.65× | ||
| Q3 25 | — | 1.68× | ||
| Q2 25 | — | 0.06× | ||
| Q1 25 | — | 24.80× | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.06× | ||
| Q1 24 | — | — |
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% |
RGS
| Franchise Segment | $37.9M | 66% |
| Royalty | $13.6M | 24% |
| Other | $2.8M | 5% |
| Fees | $1.8M | 3% |
| Franchise Fees | $1.0M | 2% |
