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杜克能源（HPK）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
杜克能源的季度营收约是Rocket Lab Corp的1.2倍（$216.6M vs $179.7M），杜克能源净利率更高（-11.6% vs -29.5%，领先17.8%），Rocket Lab Corp同比增速更快（35.7% vs -23.3%），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs -13.2%）
杜克能源公司是一家总部位于美国北卡罗来纳州夏洛特市的美国电力与天然气控股集团，为美国东部地区超过700万客户提供能源服务，在2024年《财富》美国500强榜单中位列第141位，是该公司有史以来获得的最高排名。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
HPK vs RKLB — 直观对比
营收规模更大
HPK
是对方的1.2倍
$179.7M
营收增速更快
RKLB
高出59.0%
-23.3%
净利率更高
HPK
高出17.8%
-29.5%
两年增速更快
RKLB
近两年复合增速
-13.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $216.6M | $179.7M |
| 净利润 | $-25.2M | $-52.9M |
| 毛利率 | — | 38.0% |
| 营业利润率 | -7.6% | -28.4% |
| 净利率 | -11.6% | -29.5% |
| 营收同比 | -23.3% | 35.7% |
| 净利润同比 | -380.7% | -1.1% |
| 每股收益（稀释后） | $-0.16 | $-0.09 |
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HPKRKLB
| Q4 25 | $216.6M | $179.7M | ||
| Q3 25 | $188.9M | $155.1M | ||
| Q2 25 | $200.4M | $144.5M | ||
| Q1 25 | $257.4M | $122.6M | ||
| Q4 24 | $282.6M | $132.4M | ||
| Q3 24 | $271.6M | $104.8M | ||
| Q2 24 | $275.3M | $106.3M | ||
| Q1 24 | $287.8M | $92.8M |
净利润HPKRKLB
| Q4 25 | $-25.2M | $-52.9M | ||
| Q3 25 | $-18.3M | $-18.3M | ||
| Q2 25 | $26.2M | $-66.4M | ||
| Q1 25 | $36.3M | $-60.6M | ||
| Q4 24 | $9.0M | $-52.3M | ||
| Q3 24 | $49.9M | $-51.9M | ||
| Q2 24 | $29.7M | $-41.6M | ||
| Q1 24 | $6.4M | $-44.3M |
毛利率HPKRKLB
| Q4 25 | — | 38.0% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 32.1% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | 27.8% | ||
| Q3 24 | — | 26.7% | ||
| Q2 24 | — | 25.6% | ||
| Q1 24 | — | 26.1% |
营业利润率HPKRKLB
| Q4 25 | -7.6% | -28.4% | ||
| Q3 25 | 17.3% | -38.0% | ||
| Q2 25 | 21.7% | -41.3% | ||
| Q1 25 | 35.1% | -48.3% | ||
| Q4 24 | 26.1% | -38.9% | ||
| Q3 24 | 27.0% | -49.5% | ||
| Q2 24 | 31.7% | -40.7% | ||
| Q1 24 | 35.8% | -46.4% |
净利率HPKRKLB
| Q4 25 | -11.6% | -29.5% | ||
| Q3 25 | -9.7% | -11.8% | ||
| Q2 25 | 13.1% | -46.0% | ||
| Q1 25 | 14.1% | -49.5% | ||
| Q4 24 | 3.2% | -39.5% | ||
| Q3 24 | 18.4% | -49.6% | ||
| Q2 24 | 10.8% | -39.2% | ||
| Q1 24 | 2.2% | -47.7% |
每股收益（稀释后）HPKRKLB
| Q4 25 | $-0.16 | $-0.09 | ||
| Q3 25 | $-0.15 | $-0.03 | ||
| Q2 25 | $0.19 | $-0.13 | ||
| Q1 25 | $0.26 | $-0.12 | ||
| Q4 24 | $0.06 | $-0.11 | ||
| Q3 24 | $0.35 | $-0.10 | ||
| Q2 24 | $0.21 | $-0.08 | ||
| Q1 24 | $0.05 | $-0.09 |
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 | $162.1M | $1.0B |
| 总债务越低越好 | $1.2B | $152.4M |
| 股东权益账面价值 | $1.6B | $1.7B |
| 总资产 | $3.2B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.75× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资HPKRKLB
| Q4 25 | $162.1M | $1.0B | ||
| Q3 25 | $164.9M | $976.7M | ||
| Q2 25 | $21.9M | $688.1M | ||
| Q1 25 | $51.6M | $428.4M | ||
| Q4 24 | $86.6M | $419.0M | ||
| Q3 24 | $135.6M | $442.4M | ||
| Q2 24 | $157.9M | $496.8M | ||
| Q1 24 | $173.4M | $492.5M |
总债务HPKRKLB
| Q4 25 | $1.2B | $152.4M | ||
| Q3 25 | $1.2B | $347.0M | ||
| Q2 25 | $1.0B | $346.5M | ||
| Q1 25 | $1.0B | $345.9M | ||
| Q4 24 | $1.0B | $345.4M | ||
| Q3 24 | $1.1B | $61.2M | ||
| Q2 24 | $1.1B | $64.2M | ||
| Q1 24 | $1.1B | $66.8M |
股东权益HPKRKLB
| Q4 25 | $1.6B | $1.7B | ||
| Q3 25 | $1.6B | $1.3B | ||
| Q2 25 | $1.7B | $688.5M | ||
| Q1 25 | $1.6B | $431.3M | ||
| Q4 24 | $1.6B | $382.5M | ||
| Q3 24 | $1.6B | $419.8M | ||
| Q2 24 | $1.6B | $455.2M | ||
| Q1 24 | $1.5B | $478.9M |
总资产HPKRKLB
| Q4 25 | $3.2B | $2.3B | ||
| Q3 25 | $3.2B | $2.2B | ||
| Q2 25 | $3.1B | $1.6B | ||
| Q1 25 | $3.1B | $1.3B | ||
| Q4 24 | $3.1B | $1.2B | ||
| Q3 24 | $3.1B | $1.2B | ||
| Q2 24 | $3.1B | $1.2B | ||
| Q1 24 | $3.1B | $1.2B |
负债/权益比HPKRKLB
| Q4 25 | 0.75× | 0.09× | ||
| Q3 25 | 0.73× | 0.27× | ||
| Q2 25 | 0.62× | 0.50× | ||
| Q1 25 | 0.63× | 0.80× | ||
| Q4 24 | 0.65× | 0.90× | ||
| Q3 24 | 0.67× | 0.15× | ||
| Q2 24 | 0.70× | 0.14× | ||
| Q1 24 | 0.73× | 0.14× |
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 | $93.1M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | — | $-114.2M |
| 自由现金流率自由现金流/营收 | — | -63.6% |
| 资本支出强度资本支出/营收 | — | 27.6% |
| 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 | — | $-321.8M |
8季度趋势，按日历期对齐
经营现金流HPKRKLB
| Q4 25 | $93.1M | $-64.5M | ||
| Q3 25 | $120.2M | $-23.5M | ||
| Q2 25 | $141.2M | $-23.2M | ||
| Q1 25 | $157.1M | $-54.2M | ||
| Q4 24 | $139.5M | $-2.4M | ||
| Q3 24 | $177.1M | $-30.9M | ||
| Q2 24 | $202.3M | $-13.0M | ||
| Q1 24 | $171.4M | $-2.6M |
自由现金流HPKRKLB
| Q4 25 | — | $-114.2M | ||
| Q3 25 | — | $-69.4M | ||
| Q2 25 | — | $-55.3M | ||
| Q1 25 | — | $-82.9M | ||
| Q4 24 | — | $-23.9M | ||
| Q3 24 | — | $-41.9M | ||
| Q2 24 | — | $-28.3M | ||
| Q1 24 | — | $-21.8M |
自由现金流率HPKRKLB
| Q4 25 | — | -63.6% | ||
| Q3 25 | — | -44.8% | ||
| Q2 25 | — | -38.3% | ||
| Q1 25 | — | -67.6% | ||
| Q4 24 | — | -18.1% | ||
| Q3 24 | — | -40.0% | ||
| Q2 24 | — | -26.7% | ||
| Q1 24 | — | -23.5% |
资本支出强度HPKRKLB
| Q4 25 | — | 27.6% | ||
| Q3 25 | — | 29.6% | ||
| Q2 25 | — | 22.2% | ||
| Q1 25 | — | 23.4% | ||
| Q4 24 | — | 16.3% | ||
| Q3 24 | — | 10.5% | ||
| Q2 24 | — | 14.4% | ||
| Q1 24 | — | 20.7% |
现金转化率HPKRKLB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 5.39× | — | ||
| Q1 25 | 4.32× | — | ||
| Q4 24 | 15.53× | — | ||
| Q3 24 | 3.55× | — | ||
| Q2 24 | 6.81× | — | ||
| Q1 24 | 26.63× | — |
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
HPK
| Crude Oil Sales | $152.1M | 70% |
| Natural Gas And NGL Sales | $60.8M | 28% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
