vs
FirstEnergy（FE）与Liberty Global Ltd.（LBTYA）财务数据对比。点击上方公司名可切换其他公司
FirstEnergy的季度营收约是Liberty Global Ltd.的1.6倍（$3.8B vs $2.4B），Liberty Global Ltd.净利率更高（15.0% vs -1.3%，领先16.3%），FirstEnergy同比增速更快（19.6% vs -3.6%），过去两年Liberty Global Ltd.的营收复合增速更高（12.9% 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。
自由全球有限公司是一家英荷美合资的跨国电信企业，注册地位于百慕大，在伦敦、阿姆斯特丹和丹佛均设有总部。公司旗下拥有英国自由全球控股有限公司、荷兰自由全球有限公司及美国自由全球公司三大主体，其中英国主体为上市实体。企业由自由媒体国际业务部与UnitedGlobalCom于2005年合并成立，在全球电信服务领域拥有深厚的行业积累。
FE vs LBTYA — 直观对比
营收规模更大
FE
是对方的1.6倍
$2.4B
营收增速更快
FE
高出23.2%
-3.6%
净利率更高
LBTYA
高出16.3%
-1.3%
两年增速更快
LBTYA
近两年复合增速
7.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $2.4B |
| 净利润 | $-49.0M | $358.2M |
| 毛利率 | — | — |
| 营业利润率 | -0.6% | 1.0% |
| 净利率 | -1.3% | 15.0% |
| 营收同比 | 19.6% | -3.6% |
| 净利润同比 | -118.8% | 127.1% |
| 每股收益（稀释后） | $-0.08 | — |
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FELBTYA
| Q1 26 | — | $2.4B | ||
| Q4 25 | $3.8B | $1.2B | ||
| Q3 25 | $4.1B | $1.2B | ||
| Q2 25 | $3.4B | $1.3B | ||
| Q1 25 | $3.8B | $1.2B | ||
| Q4 24 | $3.2B | $-1.4B | ||
| Q3 24 | $3.7B | $1.9B | ||
| Q2 24 | $3.3B | $1.9B |
净利润FELBTYA
| Q1 26 | — | $358.2M | ||
| Q4 25 | $-49.0M | $-2.9B | ||
| Q3 25 | $441.0M | $-90.7M | ||
| Q2 25 | $268.0M | $-2.8B | ||
| Q1 25 | $360.0M | $-1.3B | ||
| Q4 24 | $261.0M | $2.2B | ||
| Q3 24 | $419.0M | $-1.4B | ||
| Q2 24 | $45.0M | $268.1M |
毛利率FELBTYA
| Q1 26 | — | — | ||
| Q4 25 | — | 66.8% | ||
| Q3 25 | — | 67.5% | ||
| Q2 25 | — | 63.3% | ||
| Q1 25 | — | 65.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 69.4% | ||
| Q2 24 | — | 68.5% |
营业利润率FELBTYA
| Q1 26 | — | 1.0% | ||
| Q4 25 | -0.6% | -8.6% | ||
| Q3 25 | 20.0% | -0.7% | ||
| Q2 25 | 19.1% | 2.3% | ||
| Q1 25 | 20.0% | 5.2% | ||
| Q4 24 | 19.3% | — | ||
| Q3 24 | 19.5% | 5.2% | ||
| Q2 24 | 12.9% | 1.0% |
净利率FELBTYA
| Q1 26 | — | 15.0% | ||
| Q4 25 | -1.3% | -237.0% | ||
| Q3 25 | 10.6% | -7.5% | ||
| Q2 25 | 7.9% | -220.1% | ||
| Q1 25 | 9.6% | -114.2% | ||
| Q4 24 | 8.2% | -158.9% | ||
| Q3 24 | 11.2% | -74.1% | ||
| Q2 24 | 1.4% | 14.3% |
每股收益（稀释后）FELBTYA
| Q1 26 | — | — | ||
| Q4 25 | $-0.08 | $-8.66 | ||
| Q3 25 | $0.76 | $-0.27 | ||
| Q2 25 | $0.46 | $-8.09 | ||
| Q1 25 | $0.62 | $-3.84 | ||
| Q4 24 | $0.45 | $6.15 | ||
| Q3 24 | $0.73 | $-3.95 | ||
| Q2 24 | $0.08 | $0.71 |
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 | $-387.3M |
| 总债务越低越好 | $25.5B | — |
| 股东权益账面价值 | $12.5B | — |
| 总资产 | $55.9B | — |
| 负债/权益比越低杠杆越低 | 2.04× | — |
8季度趋势，按日历期对齐
现金及短期投资FELBTYA
| Q1 26 | — | $-387.3M | ||
| Q4 25 | $57.0M | $2.2B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $569.0M | $3.1B | ||
| Q1 25 | $132.0M | $2.0B | ||
| Q4 24 | $111.0M | $2.2B | ||
| Q3 24 | $439.0M | $3.3B | ||
| Q2 24 | $60.0M | $3.2B |
总债务FELBTYA
| Q1 26 | — | — | ||
| Q4 25 | $25.5B | $7.8B | ||
| Q3 25 | $25.5B | $7.8B | ||
| Q2 25 | $23.7B | $7.8B | ||
| Q1 25 | $21.2B | $8.2B | ||
| Q4 24 | $22.5B | $8.2B | ||
| Q3 24 | $21.6B | $14.9B | ||
| Q2 24 | $20.8B | $14.7B |
股东权益FELBTYA
| Q1 26 | — | — | ||
| Q4 25 | $12.5B | $9.7B | ||
| Q3 25 | $12.8B | $12.7B | ||
| Q2 25 | $12.9B | $13.0B | ||
| Q1 25 | $12.6B | $12.6B | ||
| Q4 24 | $12.5B | $12.4B | ||
| Q3 24 | $12.4B | $18.7B | ||
| Q2 24 | $12.5B | $18.3B |
总资产FELBTYA
| Q1 26 | — | — | ||
| Q4 25 | $55.9B | $22.6B | ||
| Q3 25 | $55.9B | $25.4B | ||
| Q2 25 | $54.2B | $27.2B | ||
| Q1 25 | $52.8B | $26.0B | ||
| Q4 24 | $52.0B | $25.4B | ||
| Q3 24 | $50.8B | $41.8B | ||
| Q2 24 | $51.0B | $40.8B |
负债/权益比FELBTYA
| Q1 26 | — | — | ||
| Q4 25 | 2.04× | 0.80× | ||
| Q3 25 | 1.99× | 0.61× | ||
| Q2 25 | 1.85× | 0.60× | ||
| Q1 25 | 1.69× | 0.65× | ||
| Q4 24 | 1.81× | 0.66× | ||
| Q3 24 | 1.74× | 0.80× | ||
| Q2 24 | 1.67× | 0.80× |
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 | $107.6M |
| 自由现金流经营现金流 - 资本支出 | $-30.0M | — |
| 自由现金流率自由现金流/营收 | -0.8% | — |
| 资本支出强度资本支出/营收 | 30.7% | 1.5% |
| 现金转化率经营现金流/净利润 | — | 0.30× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | — |
8季度趋势，按日历期对齐
经营现金流FELBTYA
| Q1 26 | — | $107.6M | ||
| Q4 25 | $1.1B | $630.9M | ||
| Q3 25 | $845.0M | $301.8M | ||
| Q2 25 | $1.1B | $149.2M | ||
| Q1 25 | $637.0M | $129.2M | ||
| Q4 24 | $1.0B | $791.6M | ||
| Q3 24 | $775.0M | $449.5M | ||
| Q2 24 | $1.1B | $546.1M |
自由现金流FELBTYA
| Q1 26 | — | — | ||
| Q4 25 | $-30.0M | $193.3M | ||
| Q3 25 | $-471.0M | $-41.1M | ||
| Q2 25 | $-136.0M | $-170.1M | ||
| Q1 25 | $-368.0M | $-114.1M | ||
| Q4 24 | $-250.0M | $712.9M | ||
| Q3 24 | $-229.0M | $102.4M | ||
| Q2 24 | $170.0M | $256.8M |
自由现金流率FELBTYA
| Q1 26 | — | — | ||
| Q4 25 | -0.8% | 15.7% | ||
| Q3 25 | -11.4% | -3.4% | ||
| Q2 25 | -4.0% | -13.4% | ||
| Q1 25 | -9.8% | -9.7% | ||
| Q4 24 | -7.9% | -50.5% | ||
| Q3 24 | -6.1% | 5.3% | ||
| Q2 24 | 5.2% | 13.7% |
资本支出强度FELBTYA
| Q1 26 | — | 1.5% | ||
| Q4 25 | 30.7% | 35.5% | ||
| Q3 25 | 31.7% | 28.4% | ||
| Q2 25 | 36.0% | 25.2% | ||
| Q1 25 | 26.7% | 20.8% | ||
| Q4 24 | 40.7% | -5.6% | ||
| Q3 24 | 26.9% | 17.9% | ||
| Q2 24 | 28.7% | 15.4% |
现金转化率FELBTYA
| Q1 26 | — | 0.30× | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.92× | — | ||
| Q2 25 | 4.04× | — | ||
| Q1 25 | 1.77× | — | ||
| Q4 24 | 4.00× | 0.35× | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 24.71× | 2.04× |
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
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% |
LBTYA
| Mobile Service | $775.2M | 32% |
| Fixed Service | $772.0M | 32% |
| Business | $308.7M | 13% |
| Wholesale | $256.9M | 11% |
| Business Service | $233.2M | 10% |
