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铱星通信（IRDM）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
PLUG POWER INC的季度营收约是铱星通信的1.0倍（$225.2M vs $219.1M），铱星通信净利率更高（9.9% vs -375.6%，领先385.5%），PLUG POWER INC同比增速更快（17.6% vs 1.9%），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs 4.4%）
铱星通信是一家总部位于美国弗吉尼亚州麦克莱恩的上市企业，运营着由80颗卫星组成的铱星星座，其中66颗为工作星，14颗为在轨备用星。其卫星网络支持手持卫星电话、卫星通信终端及集成收发设备实现全球范围的语音和数据传输，还可提供双向卫星消息服务，满足全球各场景的通信需求。
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。
IRDM vs PLUG — 直观对比
营收规模更大
PLUG
是对方的1.0倍
$219.1M
营收增速更快
PLUG
高出15.7%
1.9%
净利率更高
IRDM
高出385.5%
-375.6%
两年增速更快
PLUG
近两年复合增速
4.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $219.1M | $225.2M |
| 净利润 | $21.6M | $-846.0M |
| 毛利率 | — | 2.4% |
| 营业利润率 | 23.2% | -338.9% |
| 净利率 | 9.9% | -375.6% |
| 营收同比 | 1.9% | 17.6% |
| 净利润同比 | — | 36.7% |
| 每股收益（稀释后） | — | $-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IRDMPLUG
| Q1 26 | $219.1M | — | ||
| Q4 25 | $212.9M | $225.2M | ||
| Q3 25 | $226.9M | $177.1M | ||
| Q2 25 | $216.9M | $174.0M | ||
| Q1 25 | $214.9M | $133.7M | ||
| Q4 24 | $213.0M | $191.5M | ||
| Q3 24 | $212.8M | $173.7M | ||
| Q2 24 | $201.1M | $143.3M |
净利润IRDMPLUG
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $-846.0M | ||
| Q3 25 | $37.1M | $-361.9M | ||
| Q2 25 | $22.0M | $-227.1M | ||
| Q1 25 | $30.4M | $-196.7M | ||
| Q4 24 | $36.3M | $-1.3B | ||
| Q3 24 | $24.4M | $-211.2M | ||
| Q2 24 | $32.3M | $-262.3M |
毛利率IRDMPLUG
| Q1 26 | — | — | ||
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | -67.9% | ||
| Q2 25 | — | -30.7% | ||
| Q1 25 | — | -55.3% | ||
| Q4 24 | — | -122.5% | ||
| Q3 24 | — | -57.6% | ||
| Q2 24 | — | -91.6% |
营业利润率IRDMPLUG
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | -338.9% | ||
| Q3 25 | 30.9% | -197.0% | ||
| Q2 25 | 23.2% | -101.7% | ||
| Q1 25 | 28.1% | -133.5% | ||
| Q4 24 | 24.5% | -678.7% | ||
| Q3 24 | 25.8% | -124.4% | ||
| Q2 24 | 21.7% | -170.7% |
净利率IRDMPLUG
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | -375.6% | ||
| Q3 25 | 16.4% | -204.4% | ||
| Q2 25 | 10.1% | -130.5% | ||
| Q1 25 | 14.2% | -147.1% | ||
| Q4 24 | 17.1% | -697.5% | ||
| Q3 24 | 11.5% | -121.5% | ||
| Q2 24 | 16.1% | -183.0% |
每股收益（稀释后）IRDMPLUG
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $-0.70 | ||
| Q3 25 | $0.35 | $-0.31 | ||
| Q2 25 | $0.20 | $-0.20 | ||
| Q1 25 | $0.27 | $-0.21 | ||
| Q4 24 | $0.30 | $-1.61 | ||
| Q3 24 | $0.21 | $-0.25 | ||
| Q2 24 | $0.27 | $-0.36 |
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 | — | $368.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $978.1M |
| 总资产 | — | $2.6B |
| 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IRDMPLUG
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | $368.5M | ||
| Q3 25 | $88.5M | $165.9M | ||
| Q2 25 | $79.3M | $140.7M | ||
| Q1 25 | $50.9M | $295.8M | ||
| Q4 24 | $93.5M | $205.7M | ||
| Q3 24 | $159.6M | $93.9M | ||
| Q2 24 | $63.5M | $62.4M |
总债务IRDMPLUG
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | — | $3.9M | ||
| Q2 24 | — | $3.7M |
股东权益IRDMPLUG
| Q1 26 | — | — | ||
| Q4 25 | $462.6M | $978.1M | ||
| Q3 25 | $450.5M | $1.4B | ||
| Q2 25 | $473.6M | $1.7B | ||
| Q1 25 | $518.4M | $1.9B | ||
| Q4 24 | $576.6M | $1.7B | ||
| Q3 24 | $663.8M | $3.0B | ||
| Q2 24 | $786.7M | $3.0B |
总资产IRDMPLUG
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $2.6B | ||
| Q3 25 | $2.6B | $3.1B | ||
| Q2 25 | $2.6B | $3.4B | ||
| Q1 25 | $2.6B | $3.6B | ||
| Q4 24 | $2.7B | $3.6B | ||
| Q3 24 | $2.8B | $4.7B | ||
| Q2 24 | $2.7B | $4.8B |
负债/权益比IRDMPLUG
| Q1 26 | — | — | ||
| Q4 25 | 3.80× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.05× | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 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 | — | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | — | $-153.0M |
| 自由现金流率自由现金流/营收 | — | -67.9% |
| 资本支出强度资本支出/营收 | 13.7% | 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 | — | $-647.0M |
8季度趋势，按日历期对齐
经营现金流IRDMPLUG
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $-148.6M | ||
| Q3 25 | $100.8M | $-89.8M | ||
| Q2 25 | $129.6M | $-191.8M | ||
| Q1 25 | $61.1M | $-105.6M | ||
| Q4 24 | $104.8M | $-131.2M | ||
| Q3 24 | $118.6M | $-174.9M | ||
| Q2 24 | $81.1M | $-254.7M |
自由现金流IRDMPLUG
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $-153.0M | ||
| Q3 25 | $79.2M | $-117.5M | ||
| Q2 25 | $108.9M | $-230.4M | ||
| Q1 25 | $36.5M | $-146.0M | ||
| Q4 24 | $80.5M | $-165.2M | ||
| Q3 24 | $100.0M | $-234.2M | ||
| Q2 24 | $68.7M | $-356.0M |
自由现金流率IRDMPLUG
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | -67.9% | ||
| Q3 25 | 34.9% | -66.4% | ||
| Q2 25 | 50.2% | -132.5% | ||
| Q1 25 | 17.0% | -109.2% | ||
| Q4 24 | 37.8% | -86.3% | ||
| Q3 24 | 47.0% | -134.8% | ||
| Q2 24 | 34.2% | -248.4% |
资本支出强度IRDMPLUG
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 1.9% | ||
| Q3 25 | 9.5% | 15.6% | ||
| Q2 25 | 9.5% | 22.2% | ||
| Q1 25 | 11.4% | 30.3% | ||
| Q4 24 | 11.4% | 17.7% | ||
| Q3 24 | 8.7% | 34.1% | ||
| Q2 24 | 6.2% | 70.7% |
现金转化率IRDMPLUG
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | — | ||
| Q3 25 | 2.71× | — | ||
| Q2 25 | 5.90× | — | ||
| Q1 25 | 2.01× | — | ||
| Q4 24 | 2.88× | — | ||
| Q3 24 | 4.85× | — | ||
| Q2 24 | 2.51× | — |
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
IRDM
| Voice and data | $57.4M | 26% |
| IoT data (2) | $46.0M | 21% |
| Government | $39.5M | 18% |
| Government service revenue (5) | $27.6M | 13% |
| Subscriber equipment | $20.2M | 9% |
| Hosted payload and other data service (4) | $14.8M | 7% |
| Broadband (3) | $12.2M | 6% |
| Commercial | $1.3M | 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% |
