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Jacobs Solutions（J）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
Vistra Corp.的季度营收约是Jacobs Solutions的1.5倍（$4.8B vs $3.3B），Vistra Corp.净利率更高（4.8% vs 3.8%，领先1.0%），Vistra Corp.同比增速更快（31.2% vs 12.3%），Vistra Corp.自由现金流更多（$596.0M vs $364.9M），过去两年Vistra Corp.的营收复合增速更高（23.3% vs -12.2%）
Jacobs Solutions是总部位于美国得克萨斯州达拉斯市的国际技术专业服务企业，面向全球各类企业、社会组织及政府机构客户，提供工程、技术、专业及施工服务，同时开展科学研究与专项咨询业务，在所属行业长期处于领先地位。
股票代码为VST的Vistra Corp是总部位于美国得克萨斯州的能源企业，主营电力生产、可再生能源开发及能源零售等业务。此外“Vistra”也可指一家总部位于中国香港的企业服务提供商，为全球客户提供公司注册、合规管理等专业服务。
J vs VST — 直观对比
营收规模更大
VST
是对方的1.5倍
$3.3B
营收增速更快
VST
高出18.9%
12.3%
净利率更高
VST
高出1.0%
3.8%
自由现金流更多
VST
多$231.1M
$364.9M
两年增速更快
VST
近两年复合增速
-12.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $4.8B |
| 净利润 | $125.5M | $233.0M |
| 毛利率 | 23.2% | — |
| 营业利润率 | 7.1% | 9.9% |
| 净利率 | 3.8% | 4.8% |
| 营收同比 | 12.3% | 31.2% |
| 净利润同比 | 792.3% | -47.2% |
| 每股收益（稀释后） | $1.12 | $0.55 |
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JVST
| Q4 25 | $3.3B | $4.8B | ||
| Q3 25 | $3.2B | $4.8B | ||
| Q2 25 | $3.0B | $3.8B | ||
| Q1 25 | $2.9B | $4.3B | ||
| Q4 24 | $2.9B | $3.7B | ||
| Q3 24 | $-1.2B | $4.3B | ||
| Q2 24 | $4.2B | $3.6B | ||
| Q1 24 | $4.3B | $3.2B |
净利润JVST
| Q4 25 | $125.5M | $233.0M | ||
| Q3 25 | $122.2M | $652.0M | ||
| Q2 25 | $179.6M | $327.0M | ||
| Q1 25 | $5.6M | $-268.0M | ||
| Q4 24 | $-18.1M | $441.0M | ||
| Q3 24 | $325.4M | $1.9B | ||
| Q2 24 | $146.9M | $365.0M | ||
| Q1 24 | $162.1M | $-35.0M |
毛利率JVST
| Q4 25 | 23.2% | — | ||
| Q3 25 | 24.3% | — | ||
| Q2 25 | 25.0% | — | ||
| Q1 25 | 25.4% | — | ||
| Q4 24 | 24.6% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 21.7% | — | ||
| Q1 24 | 21.2% | — |
营业利润率JVST
| Q4 25 | 7.1% | 9.9% | ||
| Q3 25 | 6.7% | 21.7% | ||
| Q2 25 | 7.8% | 13.7% | ||
| Q1 25 | 7.2% | -2.8% | ||
| Q4 24 | 7.1% | 16.4% | ||
| Q3 24 | — | 59.6% | ||
| Q2 24 | 6.2% | 22.5% | ||
| Q1 24 | 6.6% | 2.7% |
净利率JVST
| Q4 25 | 3.8% | 4.8% | ||
| Q3 25 | 3.9% | 13.6% | ||
| Q2 25 | 5.9% | 8.7% | ||
| Q1 25 | 0.2% | -6.3% | ||
| Q4 24 | -0.6% | 12.0% | ||
| Q3 24 | -28.1% | 43.5% | ||
| Q2 24 | 3.5% | 10.1% | ||
| Q1 24 | 3.8% | -1.1% |
每股收益（稀释后）JVST
| Q4 25 | $1.12 | $0.55 | ||
| Q3 25 | $0.88 | $1.75 | ||
| Q2 25 | $1.55 | $0.81 | ||
| Q1 25 | $0.06 | $-0.93 | ||
| Q4 24 | $-0.11 | $1.09 | ||
| Q3 24 | $2.50 | $5.25 | ||
| Q2 24 | $1.17 | $0.90 | ||
| Q1 24 | $1.28 | $-0.24 |
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 | $785.0M |
| 总债务越低越好 | — | $15.8B |
| 股东权益账面价值 | $3.4B | $5.1B |
| 总资产 | $11.6B | $41.5B |
| 负债/权益比越低杠杆越低 | — | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资JVST
| Q4 25 | $1.6B | $785.0M | ||
| Q3 25 | $1.2B | $602.0M | ||
| Q2 25 | $1.3B | $458.0M | ||
| Q1 25 | $1.2B | $561.0M | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.1B | $905.0M | ||
| Q2 24 | $1.2B | $1.6B | ||
| Q1 24 | $1.0B | $1.1B |
总债务JVST
| Q4 25 | — | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.9B | ||
| Q1 24 | — | $14.7B |
股东权益JVST
| Q4 25 | $3.4B | $5.1B | ||
| Q3 25 | $3.6B | $5.2B | ||
| Q2 25 | $3.8B | $4.8B | ||
| Q1 25 | $3.9B | $4.8B | ||
| Q4 24 | $4.2B | $5.6B | ||
| Q3 24 | $4.5B | $5.4B | ||
| Q2 24 | $6.6B | $5.6B | ||
| Q1 24 | $6.6B | $5.7B |
总资产JVST
| Q4 25 | $11.6B | $41.5B | ||
| Q3 25 | $11.3B | $38.0B | ||
| Q2 25 | $11.4B | $38.1B | ||
| Q1 25 | $11.2B | $38.2B | ||
| Q4 24 | $11.6B | $37.8B | ||
| Q3 24 | $11.8B | $37.9B | ||
| Q2 24 | $15.0B | $39.1B | ||
| Q1 24 | $14.9B | $38.2B |
负债/权益比JVST
| Q4 25 | — | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | — | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 2.49× | ||
| Q1 24 | — | 2.60× |
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 | $380.8M | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $364.9M | $596.0M |
| 自由现金流率自由现金流/营收 | 11.1% | 12.4% |
| 资本支出强度资本支出/营收 | 0.5% | 17.4% |
| 现金转化率经营现金流/净利润 | 3.03× | 6.15× |
| 过去12个月自由现金流最近4个季度 | $875.3M | $1.3B |
8季度趋势，按日历期对齐
经营现金流JVST
| Q4 25 | $380.8M | $1.4B | ||
| Q3 25 | $383.1M | $1.5B | ||
| Q2 25 | $292.6M | $572.0M | ||
| Q1 25 | $-96.4M | $599.0M | ||
| Q4 24 | $107.5M | $1.4B | ||
| Q3 24 | $196.5M | $1.7B | ||
| Q2 24 | $482.6M | $1.2B | ||
| Q1 24 | $-42.8M | $312.0M |
自由现金流JVST
| Q4 25 | $364.9M | $596.0M | ||
| Q3 25 | $353.5M | $1.0B | ||
| Q2 25 | $270.5M | $-118.0M | ||
| Q1 25 | $-113.7M | $-169.0M | ||
| Q4 24 | $97.1M | $923.0M | ||
| Q3 24 | $158.2M | $1.0B | ||
| Q2 24 | $444.9M | $698.0M | ||
| Q1 24 | $-70.6M | $-153.0M |
自由现金流率JVST
| Q4 25 | 11.1% | 12.4% | ||
| Q3 25 | 11.2% | 21.1% | ||
| Q2 25 | 8.9% | -3.1% | ||
| Q1 25 | -3.9% | -4.0% | ||
| Q4 24 | 3.3% | 25.2% | ||
| Q3 24 | -13.6% | 23.4% | ||
| Q2 24 | 10.5% | 19.4% | ||
| Q1 24 | -1.7% | -4.8% |
资本支出强度JVST
| Q4 25 | 0.5% | 17.4% | ||
| Q3 25 | 0.9% | 9.6% | ||
| Q2 25 | 0.7% | 18.4% | ||
| Q1 25 | 0.6% | 18.1% | ||
| Q4 24 | 0.4% | 11.7% | ||
| Q3 24 | -3.3% | 15.8% | ||
| Q2 24 | 0.9% | 13.8% | ||
| Q1 24 | 0.7% | 14.7% |
现金转化率JVST
| Q4 25 | 3.03× | 6.15× | ||
| Q3 25 | 3.13× | 2.25× | ||
| Q2 25 | 1.63× | 1.75× | ||
| Q1 25 | -17.18× | — | ||
| Q4 24 | — | 3.07× | ||
| Q3 24 | 0.60× | 0.90× | ||
| Q2 24 | 3.28× | 3.28× | ||
| Q1 24 | -0.26× | — |
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
J
| Infrastructure Advanced Facilities | $2.9B | 89% |
| PA Consulting | $354.4M | 11% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
