vs
FirstEnergy（FE）与伟创力（FLEX）财务数据对比。点击上方公司名可切换其他公司
伟创力的季度营收约是FirstEnergy的1.9倍（$7.1B vs $3.8B），伟创力净利率更高（3.4% vs -1.3%，领先4.7%），FirstEnergy同比增速更快（19.6% vs 7.7%），伟创力自由现金流更多（$272.0M vs $-30.0M），过去两年伟创力的营收复合增速更高（25.2% vs 7.5%）
FirstEnergy Corp是总部位于美国俄亥俄州阿克伦市的电力公用事业企业，主营电力供应、电网运营相关业务，于1997年由俄亥俄爱迪生公司与森特里奥尔能源公司合并组建，是美国中西部地区颇具影响力的公共事业服务商。
伟创力（Flex Ltd.）是一家拥有新加坡与美国背景的跨国制造企业，按营收计算为全球第三大电子制造服务（EMS）及原始设计制造商（ODM），仅次于和硕。其美国总部位于得克萨斯州奥斯汀，在30多个国家设有生产基地，员工总数约17.2万人。
FE vs FLEX — 直观对比
营收规模更大
FLEX
是对方的1.9倍
$3.8B
营收增速更快
FE
高出11.9%
7.7%
净利率更高
FLEX
高出4.7%
-1.3%
自由现金流更多
FLEX
多$302.0M
$-30.0M
两年增速更快
FLEX
近两年复合增速
7.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $7.1B |
| 净利润 | $-49.0M | $239.0M |
| 毛利率 | — | 9.6% |
| 营业利润率 | -0.6% | 5.5% |
| 净利率 | -1.3% | 3.4% |
| 营收同比 | 19.6% | 7.7% |
| 净利润同比 | -118.8% | -9.1% |
| 每股收益（稀释后） | $-0.08 | $0.64 |
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FEFLEX
| Q4 25 | $3.8B | $7.1B | ||
| Q3 25 | $4.1B | $6.8B | ||
| Q2 25 | $3.4B | $6.6B | ||
| Q1 25 | $3.8B | $6.4B | ||
| Q4 24 | $3.2B | $6.6B | ||
| Q3 24 | $3.7B | $6.5B | ||
| Q2 24 | $3.3B | $6.3B | ||
| Q1 24 | $3.3B | $4.5B |
净利润FEFLEX
| Q4 25 | $-49.0M | $239.0M | ||
| Q3 25 | $441.0M | $199.0M | ||
| Q2 25 | $268.0M | $192.0M | ||
| Q1 25 | $360.0M | $222.0M | ||
| Q4 24 | $261.0M | $263.0M | ||
| Q3 24 | $419.0M | $214.0M | ||
| Q2 24 | $45.0M | $139.0M | ||
| Q1 24 | $253.0M | $395.0M |
毛利率FEFLEX
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 8.7% | ||
| Q1 25 | — | 8.8% | ||
| Q4 24 | — | 9.1% | ||
| Q3 24 | — | 8.1% | ||
| Q2 24 | — | 7.5% | ||
| Q1 24 | — | -0.6% |
营业利润率FEFLEX
| Q4 25 | -0.6% | 5.5% | ||
| Q3 25 | 20.0% | 4.4% | ||
| Q2 25 | 19.1% | 4.7% | ||
| Q1 25 | 20.0% | 4.8% | ||
| Q4 24 | 19.3% | 5.1% | ||
| Q3 24 | 19.5% | 4.5% | ||
| Q2 24 | 12.9% | 3.7% | ||
| Q1 24 | 18.6% | -3.6% |
净利率FEFLEX
| Q4 25 | -1.3% | 3.4% | ||
| Q3 25 | 10.6% | 2.9% | ||
| Q2 25 | 7.9% | 2.9% | ||
| Q1 25 | 9.6% | 3.5% | ||
| Q4 24 | 8.2% | 4.0% | ||
| Q3 24 | 11.2% | 3.3% | ||
| Q2 24 | 1.4% | 2.2% | ||
| Q1 24 | 7.7% | 8.8% |
每股收益（稀释后）FEFLEX
| Q4 25 | $-0.08 | $0.64 | ||
| Q3 25 | $0.76 | $0.52 | ||
| Q2 25 | $0.46 | $0.50 | ||
| Q1 25 | $0.62 | $0.56 | ||
| Q4 24 | $0.45 | $0.67 | ||
| Q3 24 | $0.73 | $0.54 | ||
| Q2 24 | $0.08 | $0.34 | ||
| Q1 24 | $0.44 | $0.91 |
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 | $57.0M | $3.1B |
| 总债务越低越好 | $25.5B | $4.4B |
| 股东权益账面价值 | $12.5B | $5.1B |
| 总资产 | $55.9B | $20.8B |
| 负债/权益比越低杠杆越低 | 2.04× | 0.87× |
8季度趋势，按日历期对齐
现金及短期投资FEFLEX
| Q4 25 | $57.0M | $3.1B | ||
| Q3 25 | $1.4B | $2.2B | ||
| Q2 25 | $569.0M | $2.2B | ||
| Q1 25 | $132.0M | $2.3B | ||
| Q4 24 | $111.0M | $2.3B | ||
| Q3 24 | $439.0M | $2.6B | ||
| Q2 24 | $60.0M | $2.2B | ||
| Q1 24 | $888.0M | $2.5B |
总债务FEFLEX
| Q4 25 | $25.5B | $4.4B | ||
| Q3 25 | $25.5B | $3.7B | ||
| Q2 25 | $23.7B | $3.7B | ||
| Q1 25 | $21.2B | $3.7B | ||
| Q4 24 | $22.5B | $3.7B | ||
| Q3 24 | $21.6B | $3.7B | ||
| Q2 24 | $20.8B | $3.2B | ||
| Q1 24 | $21.7B | $3.3B |
股东权益FEFLEX
| Q4 25 | $12.5B | $5.1B | ||
| Q3 25 | $12.8B | $5.0B | ||
| Q2 25 | $12.9B | $5.1B | ||
| Q1 25 | $12.6B | $5.0B | ||
| Q4 24 | $12.5B | $5.0B | ||
| Q3 24 | $12.4B | $5.0B | ||
| Q2 24 | $12.5B | $5.0B | ||
| Q1 24 | $12.4B | $5.3B |
总资产FEFLEX
| Q4 25 | $55.9B | $20.8B | ||
| Q3 25 | $55.9B | $19.5B | ||
| Q2 25 | $54.2B | $19.1B | ||
| Q1 25 | $52.8B | $18.4B | ||
| Q4 24 | $52.0B | $18.3B | ||
| Q3 24 | $50.8B | $18.6B | ||
| Q2 24 | $51.0B | $17.7B | ||
| Q1 24 | $51.3B | $18.3B |
负债/权益比FEFLEX
| Q4 25 | 2.04× | 0.87× | ||
| Q3 25 | 1.99× | 0.73× | ||
| Q2 25 | 1.85× | 0.72× | ||
| Q1 25 | 1.69× | 0.74× | ||
| Q4 24 | 1.81× | 0.74× | ||
| Q3 24 | 1.74× | 0.74× | ||
| Q2 24 | 1.67× | 0.64× | ||
| Q1 24 | 1.75× | 0.61× |
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 | $1.1B | $420.0M |
| 自由现金流经营现金流 - 资本支出 | $-30.0M | $272.0M |
| 自由现金流率自由现金流/营收 | -0.8% | 3.9% |
| 资本支出强度资本支出/营收 | 30.7% | 2.1% |
| 现金转化率经营现金流/净利润 | — | 1.76× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | $1.2B |
8季度趋势，按日历期对齐
经营现金流FEFLEX
| Q4 25 | $1.1B | $420.0M | ||
| Q3 25 | $845.0M | $453.0M | ||
| Q2 25 | $1.1B | $399.0M | ||
| Q1 25 | $637.0M | $433.0M | ||
| Q4 24 | $1.0B | $413.0M | ||
| Q3 24 | $775.0M | $319.0M | ||
| Q2 24 | $1.1B | $340.0M | ||
| Q1 24 | $-40.0M | $679.0M |
自由现金流FEFLEX
| Q4 25 | $-30.0M | $272.0M | ||
| Q3 25 | $-471.0M | $303.0M | ||
| Q2 25 | $-136.0M | $266.0M | ||
| Q1 25 | $-368.0M | $321.0M | ||
| Q4 24 | $-250.0M | $301.0M | ||
| Q3 24 | $-229.0M | $216.0M | ||
| Q2 24 | $170.0M | $229.0M | ||
| Q1 24 | $-830.0M | $598.0M |
自由现金流率FEFLEX
| Q4 25 | -0.8% | 3.9% | ||
| Q3 25 | -11.4% | 4.5% | ||
| Q2 25 | -4.0% | 4.0% | ||
| Q1 25 | -9.8% | 5.0% | ||
| Q4 24 | -7.9% | 4.6% | ||
| Q3 24 | -6.1% | 3.3% | ||
| Q2 24 | 5.2% | 3.6% | ||
| Q1 24 | -25.3% | 13.3% |
资本支出强度FEFLEX
| Q4 25 | 30.7% | 2.1% | ||
| Q3 25 | 31.7% | 2.2% | ||
| Q2 25 | 36.0% | 2.0% | ||
| Q1 25 | 26.7% | 1.8% | ||
| Q4 24 | 40.7% | 1.7% | ||
| Q3 24 | 26.9% | 1.6% | ||
| Q2 24 | 28.7% | 1.8% | ||
| Q1 24 | 24.0% | 1.8% |
现金转化率FEFLEX
| Q4 25 | — | 1.76× | ||
| Q3 25 | 1.92× | 2.28× | ||
| Q2 25 | 4.04× | 2.08× | ||
| Q1 25 | 1.77× | 1.95× | ||
| Q4 24 | 4.00× | 1.57× | ||
| Q3 24 | 1.85× | 1.49× | ||
| Q2 24 | 24.71× | 2.45× | ||
| Q1 24 | -0.16× | 1.72× |
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
FE
| Integrated Segment | $1.4B | 37% |
| Other | $1.4B | 36% |
| Stand Alone Transmission Segment | $466.0M | 12% |
| Industrial Customers | $167.0M | 4% |
| Mid Atlantic Interstate Transmission LLC | $118.0M | 3% |
| Transmission | $105.0M | 3% |
| Transmission Segment | $68.0M | 2% |
| Tr AIL | $63.0M | 2% |
| Internal Customers | $10.0M | 0% |
| Wholesale Sales | $6.0M | 0% |
FLEX
| Flex Reliability Solutions FRS | $3.2B | 46% |
| Transferred At Point In Time | $2.7B | 38% |
| Transferred Over Time | $1.1B | 16% |
