vs
化石集团（FOSL）与PLUG POWER INC（PLUG）财务数据对比。点击上方公司名可切换其他公司
化石集团的季度营收约是PLUG POWER INC的1.2倍（$270.2M vs $225.2M），化石集团净利率更高（-14.8% vs -375.6%，领先360.8%），PLUG POWER INC同比增速更快（17.6% vs -21.1%），化石集团自由现金流更多（$-22.5M vs $-153.0M），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs -11.4%）
化石集团是1984年成立的美国时尚设计制造企业，总部位于得克萨斯州理查森。集团旗下拥有Fossil、Relic、Michele Watch、Skagen、Zodiac Watches等多个品牌，同时也为宝马、彪马、阿玛尼、迈克高仕、DKNY等多个知名品牌代工生产授权配饰。
普拉格能源是一家美国企业，专注于氢燃料电池和电解槽系统的研发，其产品可替代电动设备及车辆所使用的传统电池。公司总部位于纽约州斯林格兰兹，在华盛顿州斯波坎、纽约州罗切斯特均设有生产运营基地。
FOSL vs PLUG — 直观对比
营收规模更大
FOSL
是对方的1.2倍
$225.2M
营收增速更快
PLUG
高出38.7%
-21.1%
净利率更高
FOSL
高出360.8%
-375.6%
自由现金流更多
FOSL
多$130.5M
$-153.0M
两年增速更快
PLUG
近两年复合增速
-11.4%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $270.2M | $225.2M |
| 净利润 | $-40.0M | $-846.0M |
| 毛利率 | 49.0% | 2.4% |
| 营业利润率 | -8.0% | -338.9% |
| 净利率 | -14.8% | -375.6% |
| 营收同比 | -21.1% | 17.6% |
| 净利润同比 | -257.8% | 36.7% |
| 每股收益（稀释后） | $-0.76 | $-0.70 |
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FOSLPLUG
| Q4 25 | $270.2M | $225.2M | ||
| Q3 25 | $220.4M | $177.1M | ||
| Q2 25 | $233.3M | $174.0M | ||
| Q1 25 | — | $133.7M | ||
| Q4 24 | $342.3M | $191.5M | ||
| Q3 24 | $287.8M | $173.7M | ||
| Q2 24 | $260.0M | $143.3M | ||
| Q1 24 | $254.9M | $120.3M |
净利润FOSLPLUG
| Q4 25 | $-40.0M | $-846.0M | ||
| Q3 25 | $-2.1M | $-361.9M | ||
| Q2 25 | $-17.9M | $-227.1M | ||
| Q1 25 | — | $-196.7M | ||
| Q4 24 | $-11.2M | $-1.3B | ||
| Q3 24 | $-31.9M | $-211.2M | ||
| Q2 24 | $-38.8M | $-262.3M | ||
| Q1 24 | $-24.3M | $-295.8M |
毛利率FOSLPLUG
| Q4 25 | 49.0% | 2.4% | ||
| Q3 25 | 57.5% | -67.9% | ||
| Q2 25 | 61.3% | -30.7% | ||
| Q1 25 | — | -55.3% | ||
| Q4 24 | 53.9% | -122.5% | ||
| Q3 24 | 49.4% | -57.6% | ||
| Q2 24 | 52.6% | -91.6% | ||
| Q1 24 | 52.4% | -132.3% |
营业利润率FOSLPLUG
| Q4 25 | -8.0% | -338.9% | ||
| Q3 25 | 3.9% | -197.0% | ||
| Q2 25 | -2.9% | -101.7% | ||
| Q1 25 | — | -133.5% | ||
| Q4 24 | -4.8% | -678.7% | ||
| Q3 24 | -8.5% | -124.4% | ||
| Q2 24 | -13.1% | -170.7% | ||
| Q1 24 | -11.5% | -215.7% |
净利率FOSLPLUG
| Q4 25 | -14.8% | -375.6% | ||
| Q3 25 | -1.0% | -204.4% | ||
| Q2 25 | -7.7% | -130.5% | ||
| Q1 25 | — | -147.1% | ||
| Q4 24 | -3.3% | -697.5% | ||
| Q3 24 | -11.1% | -121.5% | ||
| Q2 24 | -14.9% | -183.0% | ||
| Q1 24 | -9.5% | -245.9% |
每股收益（稀释后）FOSLPLUG
| Q4 25 | $-0.76 | $-0.70 | ||
| Q3 25 | $-0.04 | $-0.31 | ||
| Q2 25 | $-0.33 | $-0.20 | ||
| Q1 25 | — | $-0.21 | ||
| Q4 24 | $-0.15 | $-1.61 | ||
| Q3 24 | $-0.60 | $-0.25 | ||
| Q2 24 | $-0.73 | $-0.36 | ||
| Q1 24 | $-0.46 | $-0.46 |
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 | $79.2M | $368.5M |
| 总债务越低越好 | $169.1M | — |
| 股东权益账面价值 | $112.6M | $978.1M |
| 总资产 | $701.0M | $2.6B |
| 负债/权益比越低杠杆越低 | 1.50× | — |
8季度趋势，按日历期对齐
现金及短期投资FOSLPLUG
| Q4 25 | $79.2M | $368.5M | ||
| Q3 25 | $109.9M | $165.9M | ||
| Q2 25 | $78.3M | $140.7M | ||
| Q1 25 | — | $295.8M | ||
| Q4 24 | $123.6M | $205.7M | ||
| Q3 24 | $106.3M | $93.9M | ||
| Q2 24 | $104.9M | $62.4M | ||
| Q1 24 | $112.9M | $172.9M |
总债务FOSLPLUG
| Q4 25 | $169.1M | — | ||
| Q3 25 | $165.6M | — | ||
| Q2 25 | $167.2M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $162.7M | — | ||
| Q3 24 | $173.4M | $3.9M | ||
| Q2 24 | $156.5M | $3.7M | ||
| Q1 24 | $202.9M | $3.8M |
股东权益FOSLPLUG
| Q4 25 | $112.6M | $978.1M | ||
| Q3 25 | $150.3M | $1.4B | ||
| Q2 25 | $140.6M | $1.7B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | $148.7M | $1.7B | ||
| Q3 24 | $164.4M | $3.0B | ||
| Q2 24 | $189.6M | $3.0B | ||
| Q1 24 | $229.1M | $2.9B |
总资产FOSLPLUG
| Q4 25 | $701.0M | $2.6B | ||
| Q3 25 | $704.5M | $3.1B | ||
| Q2 25 | $686.0M | $3.4B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | $763.6M | $3.6B | ||
| Q3 24 | $812.4M | $4.7B | ||
| Q2 24 | $785.7M | $4.8B | ||
| Q1 24 | $891.0M | $4.8B |
负债/权益比FOSLPLUG
| Q4 25 | 1.50× | — | ||
| Q3 25 | 1.10× | — | ||
| Q2 25 | 1.19× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.09× | — | ||
| Q3 24 | 1.06× | 0.00× | ||
| Q2 24 | 0.83× | 0.00× | ||
| Q1 24 | 0.89× | 0.00× |
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 | $-22.2M | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | $-22.5M | $-153.0M |
| 自由现金流率自由现金流/营收 | -8.3% | -67.9% |
| 资本支出强度资本支出/营收 | 0.1% | 1.9% |
| 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 | $-46.0M | $-647.0M |
8季度趋势，按日历期对齐
经营现金流FOSLPLUG
| Q4 25 | $-22.2M | $-148.6M | ||
| Q3 25 | $9.4M | $-89.8M | ||
| Q2 25 | $-60.4M | $-191.8M | ||
| Q1 25 | — | $-105.6M | ||
| Q4 24 | $30.5M | $-131.2M | ||
| Q3 24 | $-22.8M | $-174.9M | ||
| Q2 24 | $38.4M | $-254.7M | ||
| Q1 24 | $622.0K | $-167.7M |
自由现金流FOSLPLUG
| Q4 25 | $-22.5M | $-153.0M | ||
| Q3 25 | $8.6M | $-117.5M | ||
| Q2 25 | $-60.6M | $-230.4M | ||
| Q1 25 | — | $-146.0M | ||
| Q4 24 | $28.5M | $-165.2M | ||
| Q3 24 | $-24.1M | $-234.2M | ||
| Q2 24 | $36.6M | $-356.0M | ||
| Q1 24 | $-1.1M | $-260.3M |
自由现金流率FOSLPLUG
| Q4 25 | -8.3% | -67.9% | ||
| Q3 25 | 3.9% | -66.4% | ||
| Q2 25 | -26.0% | -132.5% | ||
| Q1 25 | — | -109.2% | ||
| Q4 24 | 8.3% | -86.3% | ||
| Q3 24 | -8.4% | -134.8% | ||
| Q2 24 | 14.1% | -248.4% | ||
| Q1 24 | -0.4% | -216.5% |
资本支出强度FOSLPLUG
| Q4 25 | 0.1% | 1.9% | ||
| Q3 25 | 0.4% | 15.6% | ||
| Q2 25 | 0.1% | 22.2% | ||
| Q1 25 | — | 30.3% | ||
| Q4 24 | 0.6% | 17.7% | ||
| Q3 24 | 0.4% | 34.1% | ||
| Q2 24 | 0.7% | 70.7% | ||
| Q1 24 | 0.7% | 77.0% |
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
FOSL
| Transferred At Point In Time | $109.7M | 41% |
| Traditional Watches | $91.3M | 34% |
| Other | $50.8M | 19% |
| Leathers | $9.5M | 4% |
| Jewelry | $4.0M | 1% |
| Smartwatches | $3.3M | 1% |
| Products Other | $1.6M | 1% |
PLUG
| Sales Of Equipment And Related Infrastructure | $111.6M | 50% |
| Services Performed On Fuel Cell Systems And Related Infrastructure | $41.5M | 18% |
| Power Purchase Agreements | $36.1M | 16% |
| Sale Of Cryogenic Equipment | $20.0M | 9% |
| Sales Of Fuel Cell Systems | $11.2M | 5% |
| Other | $4.8M | 2% |
