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GE Vernova（GEV）与帕卡（PCAR）财务数据对比。点击上方公司名可切换其他公司
GE Vernova的季度营收约是帕卡的1.4倍（$9.3B vs $6.8B），GE Vernova净利率更高（50.9% vs 8.2%，领先42.7%），GE Vernova同比增速更快（16.3% vs -13.7%），GE Vernova自由现金流更多（$4.8B vs $954.4M），过去两年GE Vernova的营收复合增速更高（6.7% vs -11.7%）
GE Vernova是总部位于美国马萨诸塞州剑桥市的能源设备制造及服务企业，下设三大核心业务板块：电力板块主营燃气、核电、水电、蒸汽技术的设计、制造与运维；风电板块提供陆上风电机组、海上风电机组及叶片；电气化板块覆盖电网解决方案、电能转换、光储方案及输配电管理相关数字技术。
帕卡是美国知名重型卡车制造企业，总部位于华盛顿州贝尔维尤，旗下拥有肯沃斯、彼得比尔特、DAF卡车三大核心子品牌，同时布局金融服务、工业零部件供应业务，在全球商用车领域占据重要市场地位。
GEV vs PCAR — 直观对比
营收规模更大
GEV
是对方的1.4倍
$6.8B
营收增速更快
GEV
高出30.0%
-13.7%
净利率更高
GEV
高出42.7%
8.2%
自由现金流更多
GEV
多$3.8B
$954.4M
两年增速更快
GEV
近两年复合增速
-11.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.3B | $6.8B |
| 净利润 | $4.8B | $556.9M |
| 毛利率 | — | 19.3% |
| 营业利润率 | — | 10.3% |
| 净利率 | 50.9% | 8.2% |
| 营收同比 | 16.3% | -13.7% |
| 净利润同比 | 5.9% | -36.1% |
| 每股收益（稀释后） | $17.44 | $1.06 |
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GEVPCAR
| Q1 26 | $9.3B | — | ||
| Q4 25 | $11.0B | $6.8B | ||
| Q3 25 | $10.0B | $6.7B | ||
| Q2 25 | $9.1B | $7.5B | ||
| Q1 25 | $8.0B | $7.4B | ||
| Q4 24 | $10.6B | $7.9B | ||
| Q3 24 | $8.9B | $8.2B | ||
| Q2 24 | $8.2B | $8.8B |
净利润GEVPCAR
| Q1 26 | $4.8B | — | ||
| Q4 25 | $3.7B | $556.9M | ||
| Q3 25 | $452.0M | $590.0M | ||
| Q2 25 | $514.0M | $723.8M | ||
| Q1 25 | $254.0M | $505.1M | ||
| Q4 24 | $484.0M | $872.0M | ||
| Q3 24 | $-96.0M | $972.1M | ||
| Q2 24 | $1.3B | $1.1B |
毛利率GEVPCAR
| Q1 26 | — | — | ||
| Q4 25 | 21.2% | 19.3% | ||
| Q3 25 | 19.0% | 19.9% | ||
| Q2 25 | 20.3% | 20.2% | ||
| Q1 25 | 18.3% | 20.8% | ||
| Q4 24 | 20.1% | 21.6% | ||
| Q3 24 | 12.4% | 22.0% | ||
| Q2 24 | 20.7% | 22.8% |
营业利润率GEVPCAR
| Q1 26 | — | — | ||
| Q4 25 | 5.5% | 10.3% | ||
| Q3 25 | 3.7% | 11.1% | ||
| Q2 25 | 4.1% | 12.4% | ||
| Q1 25 | 0.5% | 8.6% | ||
| Q4 24 | 5.6% | 14.5% | ||
| Q3 24 | -4.0% | 15.2% | ||
| Q2 24 | 6.4% | 16.7% |
净利率GEVPCAR
| Q1 26 | 50.9% | — | ||
| Q4 25 | 33.4% | 8.2% | ||
| Q3 25 | 4.5% | 8.8% | ||
| Q2 25 | 5.6% | 9.6% | ||
| Q1 25 | 3.2% | 6.8% | ||
| Q4 24 | 4.6% | 11.0% | ||
| Q3 24 | -1.1% | 11.8% | ||
| Q2 24 | 15.8% | 12.8% |
每股收益（稀释后）GEVPCAR
| Q1 26 | $17.44 | — | ||
| Q4 25 | $13.28 | $1.06 | ||
| Q3 25 | $1.64 | $1.12 | ||
| Q2 25 | $1.86 | $1.37 | ||
| Q1 25 | $0.91 | $0.96 | ||
| Q4 24 | $1.75 | $1.65 | ||
| Q3 24 | $-0.35 | $1.85 | ||
| Q2 24 | $4.65 | $2.13 |
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 | — | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $19.3B |
| 总资产 | — | $44.3B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
股东权益GEVPCAR
| Q1 26 | — | — | ||
| Q4 25 | $11.2B | $19.3B | ||
| Q3 25 | $8.6B | $19.4B | ||
| Q2 25 | $8.9B | $18.9B | ||
| Q1 25 | $8.6B | $18.0B | ||
| Q4 24 | $9.5B | $17.5B | ||
| Q3 24 | $9.5B | $18.7B | ||
| Q2 24 | $9.1B | $17.7B |
总资产GEVPCAR
| Q1 26 | — | — | ||
| Q4 25 | $63.0B | $44.3B | ||
| Q3 25 | $54.4B | $44.2B | ||
| Q2 25 | $53.1B | $44.1B | ||
| Q1 25 | $51.6B | $42.7B | ||
| Q4 24 | $51.5B | $43.4B | ||
| Q3 24 | $50.9B | $43.3B | ||
| Q2 24 | $48.1B | $41.2B |
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 |
| 自由现金流经营现金流 - 资本支出 | $4.8B | $954.4M |
| 自由现金流率自由现金流/营收 | 51.3% | 14.0% |
| 资本支出强度资本支出/营收 | — | 2.8% |
| 现金转化率经营现金流/净利润 | — | 2.05× |
| 过去12个月自由现金流最近4个季度 | $7.5B | $3.7B |
8季度趋势，按日历期对齐
经营现金流GEVPCAR
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $1.1B | ||
| Q3 25 | $980.0M | $1.5B | ||
| Q2 25 | $367.0M | $833.4M | ||
| Q1 25 | $1.2B | $910.3M | ||
| Q4 24 | $921.0M | $1.4B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $979.0M | $440.0M |
自由现金流GEVPCAR
| Q1 26 | $4.8B | — | ||
| Q4 25 | $1.8B | $954.4M | ||
| Q3 25 | $733.0M | $1.4B | ||
| Q2 25 | $194.0M | $611.3M | ||
| Q1 25 | $975.0M | $745.2M | ||
| Q4 24 | $571.0M | $1.2B | ||
| Q3 24 | $968.0M | $1.1B | ||
| Q2 24 | $822.0M | $219.7M |
自由现金流率GEVPCAR
| Q1 26 | 51.3% | — | ||
| Q4 25 | 16.5% | 14.0% | ||
| Q3 25 | 7.4% | 20.4% | ||
| Q2 25 | 2.1% | 8.1% | ||
| Q1 25 | 12.1% | 10.0% | ||
| Q4 24 | 5.4% | 15.3% | ||
| Q3 24 | 10.9% | 13.3% | ||
| Q2 24 | 10.0% | 2.5% |
资本支出强度GEVPCAR
| Q1 26 | — | — | ||
| Q4 25 | 6.1% | 2.8% | ||
| Q3 25 | 2.5% | 2.5% | ||
| Q2 25 | 1.9% | 3.0% | ||
| Q1 25 | 2.3% | 2.2% | ||
| Q4 24 | 3.3% | 3.0% | ||
| Q3 24 | 1.8% | 2.4% | ||
| Q2 24 | 1.9% | 2.5% |
现金转化率GEVPCAR
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | 2.05× | ||
| Q3 25 | 2.17× | 2.59× | ||
| Q2 25 | 0.71× | 1.15× | ||
| Q1 25 | 4.57× | 1.80× | ||
| Q4 24 | 1.90× | 1.66× | ||
| Q3 24 | — | 1.32× | ||
| Q2 24 | 0.76× | 0.39× |
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
GEV
| Organic revenues | $8.6B | 92% |
| Other | $752.0M | 8% |
PCAR
| Truck Subsegment | $4.5B | 66% |
| Parts Subsegment | $1.7B | 25% |
| Other | $359.4M | 5% |
| Financial Services | $208.1M | 3% |
