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国际纸业（IP）与NextEra Energy（NEE）财务数据对比。点击上方公司名可切换其他公司
NextEra Energy的季度营收约是国际纸业的1.3倍（$6.0B vs $4.7B），NextEra Energy净利率更高（25.6% vs -50.3%，领先75.9%），NextEra Energy同比增速更快（11.1% vs 3.6%），过去两年NextEra Energy的营收复合增速更高（5.4% vs 1.3%）
国际纸业是总部位于美国田纳西州孟菲斯的纸浆及造纸企业，为全球规模最大的同类型企业，目前拥有约3.9万名员工，产品覆盖纸浆、包装用纸、办公用纸等品类，业务遍及全球多个国家和地区，广泛服务各行业客户的相关需求。
NextEra Energy是美国能源企业，也是全球市值最高的电力公用事业控股公司，截至2024年10月市值超1700亿美元。2024年营收达248亿美元，在美加两国共有1.67万名员工，当前发电装机容量为73吉瓦，旗下拥有佛罗里达电力照明等多家子公司。
IP vs NEE — 直观对比
营收规模更大
NEE
是对方的1.3倍
$4.7B
营收增速更快
NEE
高出7.5%
3.6%
净利率更高
NEE
高出75.9%
-50.3%
两年增速更快
NEE
近两年复合增速
1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $6.0B |
| 净利润 | $-2.4B | $1.5B |
| 毛利率 | 32.2% | — |
| 营业利润率 | -56.4% | 26.4% |
| 净利率 | -50.3% | 25.6% |
| 营收同比 | 3.6% | 11.1% |
| 净利润同比 | -1521.8% | 27.6% |
| 每股收益（稀释后） | $-4.76 | $0.74 |
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IPNEE
| Q4 25 | $4.7B | $6.0B | ||
| Q3 25 | $6.2B | $7.4B | ||
| Q2 25 | $6.8B | $6.4B | ||
| Q1 25 | $5.9B | $6.0B | ||
| Q4 24 | $4.6B | $5.4B | ||
| Q3 24 | $4.7B | $6.7B | ||
| Q2 24 | $4.7B | $6.0B | ||
| Q1 24 | $4.6B | $5.4B |
净利润IPNEE
| Q4 25 | $-2.4B | $1.5B | ||
| Q3 25 | $-1.1B | $2.4B | ||
| Q2 25 | $75.0M | $2.0B | ||
| Q1 25 | $-105.0M | $833.0M | ||
| Q4 24 | $-147.0M | $1.2B | ||
| Q3 24 | $150.0M | $1.9B | ||
| Q2 24 | $498.0M | $1.6B | ||
| Q1 24 | $56.0M | $2.3B |
毛利率IPNEE
| Q4 25 | 32.2% | — | ||
| Q3 25 | 31.1% | — | ||
| Q2 25 | 27.9% | — | ||
| Q1 25 | 27.8% | — | ||
| Q4 24 | 29.0% | — | ||
| Q3 24 | 28.7% | — | ||
| Q2 24 | 29.0% | — | ||
| Q1 24 | 25.9% | — |
营业利润率IPNEE
| Q4 25 | -56.4% | 26.4% | ||
| Q3 25 | -10.8% | 34.1% | ||
| Q2 25 | 1.7% | 29.9% | ||
| Q1 25 | -2.3% | 37.6% | ||
| Q4 24 | -4.9% | 17.4% | ||
| Q3 24 | 5.1% | 42.6% | ||
| Q2 24 | 6.8% | 27.8% | ||
| Q1 24 | 3.7% | 37.3% |
净利率IPNEE
| Q4 25 | -50.3% | 25.6% | ||
| Q3 25 | -17.7% | 32.9% | ||
| Q2 25 | 1.1% | 31.7% | ||
| Q1 25 | -1.8% | 13.9% | ||
| Q4 24 | -3.2% | 22.3% | ||
| Q3 24 | 3.2% | 27.6% | ||
| Q2 24 | 10.5% | 27.0% | ||
| Q1 24 | 1.2% | 42.0% |
每股收益（稀释后）IPNEE
| Q4 25 | $-4.76 | $0.74 | ||
| Q3 25 | $-2.09 | $1.18 | ||
| Q2 25 | $0.14 | $0.98 | ||
| Q1 25 | $-0.24 | $0.40 | ||
| Q4 24 | $-0.42 | $0.58 | ||
| Q3 24 | $0.42 | $0.90 | ||
| Q2 24 | $1.41 | $0.79 | ||
| Q1 24 | $0.16 | $1.10 |
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 | $1.1B | $2.8B |
| 总债务越低越好 | $8.8B | — |
| 股东权益账面价值 | $14.8B | $54.6B |
| 总资产 | $38.0B | $212.7B |
| 负债/权益比越低杠杆越低 | 0.60× | — |
8季度趋势，按日历期对齐
现金及短期投资IPNEE
| Q4 25 | $1.1B | $2.8B | ||
| Q3 25 | $995.0M | $2.4B | ||
| Q2 25 | $1.1B | $1.7B | ||
| Q1 25 | $1.2B | $2.4B | ||
| Q4 24 | $1.2B | $1.5B | ||
| Q3 24 | $1.2B | $2.3B | ||
| Q2 24 | $1.0B | $1.6B | ||
| Q1 24 | $1.1B | $1.6B |
总债务IPNEE
| Q4 25 | $8.8B | — | ||
| Q3 25 | $9.0B | — | ||
| Q2 25 | $9.7B | — | ||
| Q1 25 | $9.2B | — | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $5.3B | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | $5.5B | — |
股东权益IPNEE
| Q4 25 | $14.8B | $54.6B | ||
| Q3 25 | $17.3B | $54.2B | ||
| Q2 25 | $18.6B | $50.8B | ||
| Q1 25 | $18.1B | $49.8B | ||
| Q4 24 | $8.2B | $50.1B | ||
| Q3 24 | $8.6B | $50.1B | ||
| Q2 24 | $8.6B | $49.1B | ||
| Q1 24 | $8.3B | $48.6B |
总资产IPNEE
| Q4 25 | $38.0B | $212.7B | ||
| Q3 25 | $40.6B | $204.4B | ||
| Q2 25 | $42.4B | $198.8B | ||
| Q1 25 | $41.2B | $194.3B | ||
| Q4 24 | $22.8B | $190.1B | ||
| Q3 24 | $23.2B | $186.0B | ||
| Q2 24 | $23.1B | $184.7B | ||
| Q1 24 | $23.0B | $179.9B |
负债/权益比IPNEE
| Q4 25 | 0.60× | — | ||
| Q3 25 | 0.52× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.51× | — | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.62× | — | ||
| Q1 24 | 0.66× | — |
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 | $905.0M | $2.5B |
| 自由现金流经营现金流 - 资本支出 | $255.0M | — |
| 自由现金流率自由现金流/营收 | 5.4% | — |
| 资本支出强度资本支出/营收 | 13.7% | — |
| 现金转化率经营现金流/净利润 | — | 1.63× |
| 过去12个月自由现金流最近4个季度 | $-159.0M | — |
8季度趋势，按日历期对齐
经营现金流IPNEE
| Q4 25 | $905.0M | $2.5B | ||
| Q3 25 | $605.0M | $4.0B | ||
| Q2 25 | $476.0M | $3.2B | ||
| Q1 25 | $-288.0M | $2.8B | ||
| Q4 24 | $397.0M | $2.0B | ||
| Q3 24 | $521.0M | $4.3B | ||
| Q2 24 | $365.0M | $3.9B | ||
| Q1 24 | $395.0M | $3.1B |
自由现金流IPNEE
| Q4 25 | $255.0M | — | ||
| Q3 25 | $150.0M | — | ||
| Q2 25 | $54.0M | — | ||
| Q1 25 | $-618.0M | — | ||
| Q4 24 | $137.0M | — | ||
| Q3 24 | $309.0M | — | ||
| Q2 24 | $167.0M | — | ||
| Q1 24 | $144.0M | — |
自由现金流率IPNEE
| Q4 25 | 5.4% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | -10.5% | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 6.6% | — | ||
| Q2 24 | 3.5% | — | ||
| Q1 24 | 3.1% | — |
资本支出强度IPNEE
| Q4 25 | 13.7% | — | ||
| Q3 25 | 7.3% | — | ||
| Q2 25 | 6.2% | — | ||
| Q1 25 | 5.6% | — | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 4.5% | — | ||
| Q2 24 | 4.2% | — | ||
| Q1 24 | 5.4% | — |
现金转化率IPNEE
| Q4 25 | — | 1.63× | ||
| Q3 25 | — | 1.65× | ||
| Q2 25 | 6.35× | 1.57× | ||
| Q1 25 | — | 3.32× | ||
| Q4 24 | — | 1.65× | ||
| Q3 24 | 3.47× | 2.31× | ||
| Q2 24 | 0.73× | 2.42× | ||
| Q1 24 | 7.05× | 1.36× |
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
IP
| Other | $2.4B | 52% |
| DS Smith Packaging | $2.3B | 48% |
NEE
| Florida Power Light Company | $4.3B | 71% |
| Other | $1.7B | 29% |
