vs
因美纳（ILMN）与Pinnacle West Capital（PNW）财务数据对比。点击上方公司名可切换其他公司
因美纳的季度营收约是Pinnacle West Capital的1.0倍（$1.2B vs $1.1B），因美纳净利率更高（28.8% vs 1.6%，领先27.3%），因美纳同比增速更快（5.0% vs 3.0%），因美纳自由现金流更多（$267.0M vs $-192.7M），过去两年Pinnacle West Capital的营收复合增速更高（8.9% vs -0.7%）
因美纳是总部位于美国加利福尼亚州圣迭戈的生物技术企业，成立于1998年4月，专注研发、生产及销售用于分析基因变异与生物功能的集成系统，产品及服务覆盖测序、基因分型、基因表达、蛋白质组学等领域，业务遍及全球超155个国家和地区。
Pinnacle West Capital是美国公用事业控股企业，旗下拥有亚利桑那州规模最大的公用事业公司亚利桑那公共服务（APS）。公司于纽约证券交易所上市，是标普500指数成分股，运营受亚利桑那州公司委员会监管。
ILMN vs PNW — 直观对比
营收规模更大
ILMN
是对方的1.0倍
$1.1B
营收增速更快
ILMN
高出2.0%
3.0%
净利率更高
ILMN
高出27.3%
1.6%
自由现金流更多
ILMN
多$459.7M
$-192.7M
两年增速更快
PNW
近两年复合增速
-0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.1B |
| 净利润 | $334.0M | $17.6M |
| 毛利率 | 65.5% | — |
| 营业利润率 | 17.4% | 10.7% |
| 净利率 | 28.8% | 1.6% |
| 营收同比 | 5.0% | 3.0% |
| 净利润同比 | 185.5% | 798.0% |
| 每股收益（稀释后） | $2.16 | $0.12 |
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ILMNPNW
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $1.1B | $1.8B | ||
| Q2 24 | $1.1B | $1.3B | ||
| Q1 24 | $1.1B | $951.7M |
净利润ILMNPNW
| Q4 25 | $334.0M | $17.6M | ||
| Q3 25 | — | $417.5M | ||
| Q2 25 | — | $196.9M | ||
| Q1 25 | — | $-338.0K | ||
| Q4 24 | $186.0M | $-2.5M | ||
| Q3 24 | $705.0M | $399.3M | ||
| Q2 24 | $-2.0B | $208.1M | ||
| Q1 24 | $-126.0M | $21.2M |
毛利率ILMNPNW
| Q4 25 | 65.5% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 65.9% | — | ||
| Q3 24 | 69.0% | — | ||
| Q2 24 | 64.8% | — | ||
| Q1 24 | 62.0% | — |
营业利润率ILMNPNW
| Q4 25 | 17.4% | 10.7% | ||
| Q3 25 | — | 32.0% | ||
| Q2 25 | — | 22.6% | ||
| Q1 25 | — | 5.5% | ||
| Q4 24 | 15.8% | 7.7% | ||
| Q3 24 | 68.6% | 30.9% | ||
| Q2 24 | -147.2% | 24.0% | ||
| Q1 24 | -10.3% | 7.0% |
净利率ILMNPNW
| Q4 25 | 28.8% | 1.6% | ||
| Q3 25 | — | 22.9% | ||
| Q2 25 | — | 14.5% | ||
| Q1 25 | — | -0.0% | ||
| Q4 24 | 16.8% | -0.2% | ||
| Q3 24 | 65.3% | 22.6% | ||
| Q2 24 | -178.8% | 15.9% | ||
| Q1 24 | -11.7% | 2.2% |
每股收益（稀释后）ILMNPNW
| Q4 25 | $2.16 | $0.12 | ||
| Q3 25 | — | $3.39 | ||
| Q2 25 | — | $1.58 | ||
| Q1 25 | — | $-0.04 | ||
| Q4 24 | $1.16 | $-0.04 | ||
| Q3 24 | $4.42 | $3.37 | ||
| Q2 24 | $-12.48 | $1.76 | ||
| Q1 24 | $-0.79 | $0.15 |
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 | $1.6B | $6.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.7B | $7.0B |
| 总资产 | $6.6B | $30.0B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ILMNPNW
| Q4 25 | $1.6B | $6.6M | ||
| Q3 25 | — | $30.9M | ||
| Q2 25 | — | $18.8M | ||
| Q1 25 | — | $10.0M | ||
| Q4 24 | $93.0M | $3.8M | ||
| Q3 24 | $70.0M | $49.2M | ||
| Q2 24 | $74.0M | $4.0M | ||
| Q1 24 | — | $9.6M |
股东权益ILMNPNW
| Q4 25 | $2.7B | $7.0B | ||
| Q3 25 | — | $7.2B | ||
| Q2 25 | — | $6.7B | ||
| Q1 25 | — | $6.7B | ||
| Q4 24 | $2.4B | $6.8B | ||
| Q3 24 | $2.1B | $6.6B | ||
| Q2 24 | $1.4B | $6.2B | ||
| Q1 24 | $5.7B | $6.2B |
总资产ILMNPNW
| Q4 25 | $6.6B | $30.0B | ||
| Q3 25 | — | $29.9B | ||
| Q2 25 | — | $29.2B | ||
| Q1 25 | — | $27.2B | ||
| Q4 24 | $6.3B | $26.1B | ||
| Q3 24 | $6.0B | $26.3B | ||
| Q2 24 | $6.1B | $25.7B | ||
| Q1 24 | $10.0B | $24.8B |
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 | $321.0M | $476.8M |
| 自由现金流经营现金流 - 资本支出 | $267.0M | $-192.7M |
| 自由现金流率自由现金流/营收 | 23.0% | -17.1% |
| 资本支出强度资本支出/营收 | — | 59.3% |
| 现金转化率经营现金流/净利润 | 0.96× | 27.09× |
| 过去12个月自由现金流最近4个季度 | $935.0M | $-819.5M |
8季度趋势，按日历期对齐
经营现金流ILMNPNW
| Q4 25 | $321.0M | $476.8M | ||
| Q3 25 | — | $665.0M | ||
| Q2 25 | — | $261.4M | ||
| Q1 25 | — | $401.9M | ||
| Q4 24 | $364.0M | $439.5M | ||
| Q3 24 | $316.0M | $633.2M | ||
| Q2 24 | $80.0M | $189.8M | ||
| Q1 24 | $77.0M | $347.4M |
自由现金流ILMNPNW
| Q4 25 | $267.0M | $-192.7M | ||
| Q3 25 | — | $42.0M | ||
| Q2 25 | — | $-448.1M | ||
| Q1 25 | — | $-220.7M | ||
| Q4 24 | $335.0M | $-92.1M | ||
| Q3 24 | $284.0M | $-32.7M | ||
| Q2 24 | $49.0M | $-344.2M | ||
| Q1 24 | $41.0M | $-170.4M |
自由现金流率ILMNPNW
| Q4 25 | 23.0% | -17.1% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | -33.0% | ||
| Q1 25 | — | -21.4% | ||
| Q4 24 | 30.3% | -8.4% | ||
| Q3 24 | 26.3% | -1.8% | ||
| Q2 24 | 4.4% | -26.3% | ||
| Q1 24 | 3.8% | -17.9% |
资本支出强度ILMNPNW
| Q4 25 | — | 59.3% | ||
| Q3 25 | — | 34.2% | ||
| Q2 25 | — | 52.2% | ||
| Q1 25 | — | 60.3% | ||
| Q4 24 | 2.6% | 48.5% | ||
| Q3 24 | 3.0% | 37.6% | ||
| Q2 24 | 2.8% | 40.8% | ||
| Q1 24 | 3.3% | 54.4% |
现金转化率ILMNPNW
| Q4 25 | 0.96× | 27.09× | ||
| Q3 25 | — | 1.59× | ||
| Q2 25 | — | 1.33× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.96× | — | ||
| Q3 24 | 0.45× | 1.59× | ||
| Q2 24 | — | 0.91× | ||
| Q1 24 | — | 16.41× |
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
ILMN
| Product revenue | $990.0M | 85% |
| Service and other revenue | $169.0M | 15% |
PNW
| Electricand Transmission Service | $1.1B | 100% |
| Other Services | $4.4M | 0% |
