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LANDS' END, INC.（LE）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
LANDS' END, INC.的季度营收约是PLUG POWER INC的1.4倍（$317.5M vs $225.2M），LANDS' END, INC.净利率更高（1.6% vs -375.6%，领先377.2%），PLUG POWER INC同比增速更快（17.6% vs 0.1%），LANDS' END, INC.自由现金流更多（$-22.4M vs $-153.0M），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs -0.9%）
Lands' End是1963年诞生于美国芝加哥的服饰零售品牌，最初以邮购游艇用品起家，目前业务拓展至服饰、箱包与家居用品领域。截至2024年2月，品牌在美国本土共开设26家门店，总部位于威斯康星州道奇维尔。品牌名源自地名兰兹角，因创立时印刷错了撇号位置又无力重印，错拼的名称便沿用至今。
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。
LE vs PLUG — 直观对比
营收规模更大
LE
是对方的1.4倍
$225.2M
营收增速更快
PLUG
高出17.5%
0.1%
净利率更高
LE
高出377.2%
-375.6%
自由现金流更多
LE
多$130.6M
$-153.0M
两年增速更快
PLUG
近两年复合增速
-0.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $317.5M | $225.2M |
| 净利润 | $5.2M | $-846.0M |
| 毛利率 | 51.8% | 2.4% |
| 营业利润率 | 5.3% | -338.9% |
| 净利率 | 1.6% | -375.6% |
| 营收同比 | 0.1% | 17.6% |
| 净利润同比 | 198.3% | 36.7% |
| 每股收益（稀释后） | $0.17 | $-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LEPLUG
| Q4 25 | $317.5M | $225.2M | ||
| Q3 25 | — | $177.1M | ||
| Q2 25 | $261.2M | $174.0M | ||
| Q1 25 | — | $133.7M | ||
| Q4 24 | $318.6M | $191.5M | ||
| Q3 24 | $317.2M | $173.7M | ||
| Q2 24 | $285.5M | $143.3M | ||
| Q1 24 | $514.9M | $120.3M |
净利润LEPLUG
| Q4 25 | $5.2M | $-846.0M | ||
| Q3 25 | — | $-361.9M | ||
| Q2 25 | $-8.3M | $-227.1M | ||
| Q1 25 | — | $-196.7M | ||
| Q4 24 | $-593.0K | $-1.3B | ||
| Q3 24 | $-5.3M | $-211.2M | ||
| Q2 24 | $-6.4M | $-262.3M | ||
| Q1 24 | $-8.6M | $-295.8M |
毛利率LEPLUG
| Q4 25 | 51.8% | 2.4% | ||
| Q3 25 | — | -67.9% | ||
| Q2 25 | 50.8% | -30.7% | ||
| Q1 25 | — | -55.3% | ||
| Q4 24 | 50.6% | -122.5% | ||
| Q3 24 | 47.9% | -57.6% | ||
| Q2 24 | 48.7% | -91.6% | ||
| Q1 24 | 38.0% | -132.3% |
营业利润率LEPLUG
| Q4 25 | 5.3% | -338.9% | ||
| Q3 25 | — | -197.0% | ||
| Q2 25 | -0.9% | -101.7% | ||
| Q1 25 | — | -133.5% | ||
| Q4 24 | 2.9% | -678.7% | ||
| Q3 24 | 0.8% | -124.4% | ||
| Q2 24 | 0.8% | -170.7% | ||
| Q1 24 | 1.6% | -215.7% |
净利率LEPLUG
| Q4 25 | 1.6% | -375.6% | ||
| Q3 25 | — | -204.4% | ||
| Q2 25 | -3.2% | -130.5% | ||
| Q1 25 | — | -147.1% | ||
| Q4 24 | -0.2% | -697.5% | ||
| Q3 24 | -1.7% | -121.5% | ||
| Q2 24 | -2.3% | -183.0% | ||
| Q1 24 | -1.7% | -245.9% |
每股收益（稀释后）LEPLUG
| Q4 25 | $0.17 | $-0.70 | ||
| Q3 25 | — | $-0.31 | ||
| Q2 25 | $-0.27 | $-0.20 | ||
| Q1 25 | — | $-0.21 | ||
| Q4 24 | $-0.02 | $-1.61 | ||
| Q3 24 | $-0.17 | $-0.25 | ||
| Q2 24 | $-0.20 | $-0.36 | ||
| Q1 24 | $-0.27 | $-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 | $36.3M | $368.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $231.0M | $978.1M |
| 总资产 | $852.7M | $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LEPLUG
| Q4 25 | $36.3M | $368.5M | ||
| Q3 25 | — | $165.9M | ||
| Q2 25 | $18.1M | $140.7M | ||
| Q1 25 | — | $295.8M | ||
| Q4 24 | $30.4M | $205.7M | ||
| Q3 24 | $25.6M | $93.9M | ||
| Q2 24 | $27.4M | $62.4M | ||
| Q1 24 | $25.3M | $172.9M |
总债务LEPLUG
| 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LEPLUG
| Q4 25 | $231.0M | $978.1M | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | $230.1M | $1.7B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | $223.6M | $1.7B | ||
| Q3 24 | $226.5M | $3.0B | ||
| Q2 24 | $234.6M | $3.0B | ||
| Q1 24 | $241.6M | $2.9B |
总资产LEPLUG
| Q4 25 | $852.7M | $2.6B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | $760.5M | $3.4B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | $843.6M | $3.6B | ||
| Q3 24 | $802.5M | $4.7B | ||
| Q2 24 | $800.1M | $4.8B | ||
| Q1 24 | $811.5M | $4.8B |
负债/权益比LEPLUG
| 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 | $-15.7M | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | $-22.4M | $-153.0M |
| 自由现金流率自由现金流/营收 | -7.1% | -67.9% |
| 资本支出强度资本支出/营收 | 2.1% | 1.9% |
| 现金转化率经营现金流/净利润 | -3.03× | — |
| 过去12个月自由现金流最近4个季度 | $-55.0M | $-647.0M |
8季度趋势，按日历期对齐
经营现金流LEPLUG
| Q4 25 | $-15.7M | $-148.6M | ||
| Q3 25 | — | $-89.8M | ||
| Q2 25 | $-22.5M | $-191.8M | ||
| Q1 25 | — | $-105.6M | ||
| Q4 24 | $-17.1M | $-131.2M | ||
| Q3 24 | $30.7M | $-174.9M | ||
| Q2 24 | $-25.8M | $-254.7M | ||
| Q1 24 | $93.9M | $-167.7M |
自由现金流LEPLUG
| Q4 25 | $-22.4M | $-153.0M | ||
| Q3 25 | — | $-117.5M | ||
| Q2 25 | $-30.7M | $-230.4M | ||
| Q1 25 | — | $-146.0M | ||
| Q4 24 | $-27.8M | $-165.2M | ||
| Q3 24 | $26.0M | $-234.2M | ||
| Q2 24 | $-32.6M | $-356.0M | ||
| Q1 24 | $87.5M | $-260.3M |
自由现金流率LEPLUG
| Q4 25 | -7.1% | -67.9% | ||
| Q3 25 | — | -66.4% | ||
| Q2 25 | -11.8% | -132.5% | ||
| Q1 25 | — | -109.2% | ||
| Q4 24 | -8.7% | -86.3% | ||
| Q3 24 | 8.2% | -134.8% | ||
| Q2 24 | -11.4% | -248.4% | ||
| Q1 24 | 17.0% | -216.5% |
资本支出强度LEPLUG
| Q4 25 | 2.1% | 1.9% | ||
| Q3 25 | — | 15.6% | ||
| Q2 25 | 3.2% | 22.2% | ||
| Q1 25 | — | 30.3% | ||
| Q4 24 | 3.3% | 17.7% | ||
| Q3 24 | 1.5% | 34.1% | ||
| Q2 24 | 2.4% | 70.7% | ||
| Q1 24 | 1.2% | 77.0% |
现金转化率LEPLUG
| Q4 25 | -3.03× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
LE
| U Se Commerce | $179.8M | 57% |
| Business Outfitters Revenue | $78.8M | 25% |
| Licensing And Retail | $20.2M | 6% |
| Other | $19.8M | 6% |
| Third Party | $18.9M | 6% |
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% |
