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Kodiak Gas Services, Inc.（KGS）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
Kodiak Gas Services, Inc.的季度营收约是PLUG POWER INC的1.5倍（$332.9M vs $225.2M），Kodiak Gas Services, Inc.净利率更高（7.4% vs -375.6%，领先383.0%），PLUG POWER INC同比增速更快（17.6% vs 7.5%），Kodiak Gas Services, Inc.自由现金流更多（$142.0M vs $-153.0M），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs 24.3%）
Kodiak Gas Services是北美知名的天然气压缩服务供应商，主要服务油气行业上下游客户，提供定制化压缩设备、运维及运营支持，帮助客户优化陆上天然气收集、处理与运输全流程的运营效率。
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。
KGS vs PLUG — 直观对比
营收规模更大
KGS
是对方的1.5倍
$225.2M
营收增速更快
PLUG
高出10.1%
7.5%
净利率更高
KGS
高出383.0%
-375.6%
自由现金流更多
KGS
多$295.1M
$-153.0M
两年增速更快
PLUG
近两年复合增速
24.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $332.9M | $225.2M |
| 净利润 | $24.6M | $-846.0M |
| 毛利率 | — | 2.4% |
| 营业利润率 | 26.1% | -338.9% |
| 净利率 | 7.4% | -375.6% |
| 营收同比 | 7.5% | 17.6% |
| 净利润同比 | 29.0% | 36.7% |
| 每股收益（稀释后） | $0.30 | $-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KGSPLUG
| Q4 25 | $332.9M | $225.2M | ||
| Q3 25 | $322.7M | $177.1M | ||
| Q2 25 | $322.8M | $174.0M | ||
| Q1 25 | $329.6M | $133.7M | ||
| Q4 24 | $309.5M | $191.5M | ||
| Q3 24 | $324.6M | $173.7M | ||
| Q2 24 | $309.7M | $143.3M | ||
| Q1 24 | $215.5M | $120.3M |
净利润KGSPLUG
| Q4 25 | $24.6M | $-846.0M | ||
| Q3 25 | $-14.0M | $-361.9M | ||
| Q2 25 | $39.5M | $-227.1M | ||
| Q1 25 | $30.4M | $-196.7M | ||
| Q4 24 | $19.1M | $-1.3B | ||
| Q3 24 | $-5.6M | $-211.2M | ||
| Q2 24 | $6.2M | $-262.3M | ||
| Q1 24 | $30.2M | $-295.8M |
毛利率KGSPLUG
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | -67.9% | ||
| Q2 25 | — | -30.7% | ||
| Q1 25 | — | -55.3% | ||
| Q4 24 | — | -122.5% | ||
| Q3 24 | 37.5% | -57.6% | ||
| Q2 24 | 36.5% | -91.6% | ||
| Q1 24 | 39.4% | -132.3% |
营业利润率KGSPLUG
| Q4 25 | 26.1% | -338.9% | ||
| Q3 25 | 19.9% | -197.0% | ||
| Q2 25 | 30.9% | -101.7% | ||
| Q1 25 | 27.1% | -133.5% | ||
| Q4 24 | 22.3% | -678.7% | ||
| Q3 24 | 20.4% | -124.4% | ||
| Q2 24 | 17.5% | -170.7% | ||
| Q1 24 | 27.9% | -215.7% |
净利率KGSPLUG
| Q4 25 | 7.4% | -375.6% | ||
| Q3 25 | -4.3% | -204.4% | ||
| Q2 25 | 12.2% | -130.5% | ||
| Q1 25 | 9.2% | -147.1% | ||
| Q4 24 | 6.2% | -697.5% | ||
| Q3 24 | -1.7% | -121.5% | ||
| Q2 24 | 2.0% | -183.0% | ||
| Q1 24 | 14.0% | -245.9% |
每股收益（稀释后）KGSPLUG
| Q4 25 | $0.30 | $-0.70 | ||
| Q3 25 | $-0.17 | $-0.31 | ||
| Q2 25 | $0.43 | $-0.20 | ||
| Q1 25 | $0.33 | $-0.21 | ||
| Q4 24 | $0.18 | $-1.61 | ||
| Q3 24 | $-0.07 | $-0.25 | ||
| Q2 24 | $0.06 | $-0.36 | ||
| Q1 24 | $0.39 | $-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 | $3.2M | $368.5M |
| 总债务越低越好 | $2.6B | — |
| 股东权益账面价值 | $1.2B | $978.1M |
| 总资产 | $4.3B | $2.6B |
| 负债/权益比越低杠杆越低 | 2.12× | — |
8季度趋势，按日历期对齐
现金及短期投资KGSPLUG
| Q4 25 | $3.2M | $368.5M | ||
| Q3 25 | $724.0K | $165.9M | ||
| Q2 25 | $5.4M | $140.7M | ||
| Q1 25 | $1.9M | $295.8M | ||
| Q4 24 | $4.8M | $205.7M | ||
| Q3 24 | $7.4M | $93.9M | ||
| Q2 24 | $3.9M | $62.4M | ||
| Q1 24 | $9.3M | $172.9M |
总债务KGSPLUG
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.6B | $3.9M | ||
| Q2 24 | $2.5B | $3.7M | ||
| Q1 24 | — | $3.8M |
股东权益KGSPLUG
| Q4 25 | $1.2B | $978.1M | ||
| Q3 25 | $1.3B | $1.4B | ||
| Q2 25 | $1.3B | $1.7B | ||
| Q1 25 | $1.4B | $1.9B | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $1.4B | $3.0B | ||
| Q2 24 | $1.5B | $3.0B | ||
| Q1 24 | $1.1B | $2.9B |
总资产KGSPLUG
| Q4 25 | $4.3B | $2.6B | ||
| Q3 25 | $4.4B | $3.1B | ||
| Q2 25 | $4.4B | $3.4B | ||
| Q1 25 | $4.4B | $3.6B | ||
| Q4 24 | $4.4B | $3.6B | ||
| Q3 24 | $4.5B | $4.7B | ||
| Q2 24 | $4.4B | $4.8B | ||
| Q1 24 | $3.3B | $4.8B |
负债/权益比KGSPLUG
| Q4 25 | 2.12× | — | ||
| Q3 25 | 2.08× | — | ||
| Q2 25 | 1.89× | — | ||
| Q1 25 | 1.91× | — | ||
| Q4 24 | 1.88× | — | ||
| Q3 24 | 1.86× | 0.00× | ||
| Q2 24 | 1.71× | 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 | $194.9M | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | $142.0M | $-153.0M |
| 自由现金流率自由现金流/营收 | 42.7% | -67.9% |
| 资本支出强度资本支出/营收 | 15.9% | 1.9% |
| 现金转化率经营现金流/净利润 | 7.91× | — |
| 过去12个月自由现金流最近4个季度 | $284.3M | $-647.0M |
8季度趋势，按日历期对齐
经营现金流KGSPLUG
| Q4 25 | $194.9M | $-148.6M | ||
| Q3 25 | $113.4M | $-89.8M | ||
| Q2 25 | $177.2M | $-191.8M | ||
| Q1 25 | $114.3M | $-105.6M | ||
| Q4 24 | $118.5M | $-131.2M | ||
| Q3 24 | $36.9M | $-174.9M | ||
| Q2 24 | $121.1M | $-254.7M | ||
| Q1 24 | $51.5M | $-167.7M |
自由现金流KGSPLUG
| Q4 25 | $142.0M | $-153.0M | ||
| Q3 25 | $10.9M | $-117.5M | ||
| Q2 25 | $94.6M | $-230.4M | ||
| Q1 25 | $36.8M | $-146.0M | ||
| Q4 24 | $45.2M | $-165.2M | ||
| Q3 24 | $-49.7M | $-234.2M | ||
| Q2 24 | $4.0M | $-356.0M | ||
| Q1 24 | $-8.6M | $-260.3M |
自由现金流率KGSPLUG
| Q4 25 | 42.7% | -67.9% | ||
| Q3 25 | 3.4% | -66.4% | ||
| Q2 25 | 29.3% | -132.5% | ||
| Q1 25 | 11.2% | -109.2% | ||
| Q4 24 | 14.6% | -86.3% | ||
| Q3 24 | -15.3% | -134.8% | ||
| Q2 24 | 1.3% | -248.4% | ||
| Q1 24 | -4.0% | -216.5% |
资本支出强度KGSPLUG
| Q4 25 | 15.9% | 1.9% | ||
| Q3 25 | 31.7% | 15.6% | ||
| Q2 25 | 25.6% | 22.2% | ||
| Q1 25 | 23.5% | 30.3% | ||
| Q4 24 | 23.7% | 17.7% | ||
| Q3 24 | 26.7% | 34.1% | ||
| Q2 24 | 37.8% | 70.7% | ||
| Q1 24 | 27.9% | 77.0% |
现金转化率KGSPLUG
| Q4 25 | 7.91× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 4.49× | — | ||
| Q1 25 | 3.76× | — | ||
| Q4 24 | 6.21× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 19.44× | — | ||
| Q1 24 | 1.70× | — |
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
KGS
| Other Services | $126.8M | 38% |
| Other | $112.2M | 34% |
| Transferred At Point In Time | $93.8M | 28% |
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% |
