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JBG SMITH Properties（JBGS）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JBG SMITH Properties的1.8倍（$225.2M vs $127.6M），JBG SMITH Properties净利率更高（-35.7% vs -375.6%，领先339.9%），PLUG POWER INC同比增速更快（17.6% vs -2.5%），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs -6.3%）
JBG SMITH Properties是一家总部位于马里兰州贝塞斯达的上市房地产投资信托公司，专注于持有并运营房地产资产，是美国商业地产领域的专业运营机构，面向市场提供多元化的不动产投资与管理服务。
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。
JBGS vs PLUG — 直观对比
营收规模更大
PLUG
是对方的1.8倍
$127.6M
营收增速更快
PLUG
高出20.1%
-2.5%
净利率更高
JBGS
高出339.9%
-375.6%
两年增速更快
PLUG
近两年复合增速
-6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $127.6M | $225.2M |
| 净利润 | $-45.5M | $-846.0M |
| 毛利率 | — | 2.4% |
| 营业利润率 | -47.5% | -338.9% |
| 净利率 | -35.7% | -375.6% |
| 营收同比 | -2.5% | 17.6% |
| 净利润同比 | 24.0% | 36.7% |
| 每股收益（稀释后） | $-0.76 | $-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JBGSPLUG
| Q4 25 | $127.6M | $225.2M | ||
| Q3 25 | $123.9M | $177.1M | ||
| Q2 25 | $126.5M | $174.0M | ||
| Q1 25 | $120.7M | $133.7M | ||
| Q4 24 | $130.8M | $191.5M | ||
| Q3 24 | $136.0M | $173.7M | ||
| Q2 24 | $135.3M | $143.3M | ||
| Q1 24 | $145.2M | $120.3M |
净利润JBGSPLUG
| Q4 25 | $-45.5M | $-846.0M | ||
| Q3 25 | $-28.6M | $-361.9M | ||
| Q2 25 | $-19.2M | $-227.1M | ||
| Q1 25 | $-45.7M | $-196.7M | ||
| Q4 24 | $-59.9M | $-1.3B | ||
| Q3 24 | $-27.0M | $-211.2M | ||
| Q2 24 | $-24.4M | $-262.3M | ||
| Q1 24 | $-32.3M | $-295.8M |
毛利率JBGSPLUG
| 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% | ||
| Q1 24 | — | -132.3% |
营业利润率JBGSPLUG
| Q4 25 | -47.5% | -338.9% | ||
| Q3 25 | -27.5% | -197.0% | ||
| Q2 25 | -18.4% | -101.7% | ||
| Q1 25 | -44.7% | -133.5% | ||
| Q4 24 | -53.6% | -678.7% | ||
| Q3 24 | -22.4% | -124.4% | ||
| Q2 24 | -24.3% | -170.7% | ||
| Q1 24 | -30.1% | -215.7% |
净利率JBGSPLUG
| Q4 25 | -35.7% | -375.6% | ||
| Q3 25 | -23.1% | -204.4% | ||
| Q2 25 | -15.2% | -130.5% | ||
| Q1 25 | -37.9% | -147.1% | ||
| Q4 24 | -45.8% | -697.5% | ||
| Q3 24 | -19.8% | -121.5% | ||
| Q2 24 | -18.0% | -183.0% | ||
| Q1 24 | -22.2% | -245.9% |
每股收益（稀释后）JBGSPLUG
| Q4 25 | $-0.76 | $-0.70 | ||
| Q3 25 | $-0.48 | $-0.31 | ||
| Q2 25 | $-0.29 | $-0.20 | ||
| Q1 25 | $-0.56 | $-0.21 | ||
| Q4 24 | $-0.70 | $-1.61 | ||
| Q3 24 | $-0.32 | $-0.25 | ||
| Q2 24 | $-0.27 | $-0.36 | ||
| Q1 24 | $-0.36 | $-0.46 |
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 | $75.3M | $368.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.2B | $978.1M |
| 总资产 | $4.4B | $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JBGSPLUG
| Q4 25 | $75.3M | $368.5M | ||
| Q3 25 | $64.4M | $165.9M | ||
| Q2 25 | $61.4M | $140.7M | ||
| Q1 25 | $81.3M | $295.8M | ||
| Q4 24 | $145.8M | $205.7M | ||
| Q3 24 | $137.0M | $93.9M | ||
| Q2 24 | $163.5M | $62.4M | ||
| Q1 24 | $220.5M | $172.9M |
总债务JBGSPLUG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $3.9M | ||
| Q2 24 | — | $3.7M | ||
| Q1 24 | — | $3.8M |
股东权益JBGSPLUG
| Q4 25 | $1.2B | $978.1M | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.3B | $1.7B | ||
| Q1 25 | $1.6B | $1.9B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $1.9B | $3.0B | ||
| Q2 24 | $2.0B | $3.0B | ||
| Q1 24 | $2.1B | $2.9B |
总资产JBGSPLUG
| Q4 25 | $4.4B | $2.6B | ||
| Q3 25 | $4.4B | $3.1B | ||
| Q2 25 | $4.5B | $3.4B | ||
| Q1 25 | $4.7B | $3.6B | ||
| Q4 24 | $5.0B | $3.6B | ||
| Q3 24 | $5.2B | $4.7B | ||
| Q2 24 | $5.3B | $4.8B | ||
| Q1 24 | $5.4B | $4.8B |
负债/权益比JBGSPLUG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 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 | $73.3M | $-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 | — | 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JBGSPLUG
| Q4 25 | $73.3M | $-148.6M | ||
| Q3 25 | $8.9M | $-89.8M | ||
| Q2 25 | $18.8M | $-191.8M | ||
| Q1 25 | $12.9M | $-105.6M | ||
| Q4 24 | $129.4M | $-131.2M | ||
| Q3 24 | $26.4M | $-174.9M | ||
| Q2 24 | $23.8M | $-254.7M | ||
| Q1 24 | $37.0M | $-167.7M |
自由现金流JBGSPLUG
| Q4 25 | — | $-153.0M | ||
| Q3 25 | — | $-117.5M | ||
| Q2 25 | — | $-230.4M | ||
| Q1 25 | — | $-146.0M | ||
| Q4 24 | — | $-165.2M | ||
| Q3 24 | — | $-234.2M | ||
| Q2 24 | — | $-356.0M | ||
| Q1 24 | — | $-260.3M |
自由现金流率JBGSPLUG
| Q4 25 | — | -67.9% | ||
| Q3 25 | — | -66.4% | ||
| Q2 25 | — | -132.5% | ||
| Q1 25 | — | -109.2% | ||
| Q4 24 | — | -86.3% | ||
| Q3 24 | — | -134.8% | ||
| Q2 24 | — | -248.4% | ||
| Q1 24 | — | -216.5% |
资本支出强度JBGSPLUG
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 15.6% | ||
| Q2 25 | — | 22.2% | ||
| Q1 25 | — | 30.3% | ||
| Q4 24 | — | 17.7% | ||
| Q3 24 | — | 34.1% | ||
| Q2 24 | — | 70.7% | ||
| Q1 24 | — | 77.0% |
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
JBGS
暂无分部数据
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% |
