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CENTRUS ENERGY CORP（LEU）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CENTRUS ENERGY CORP的1.5倍（$225.2M vs $146.2M），PLUG POWER INC同比增速更快（17.6% vs -3.6%），CENTRUS ENERGY CORP自由现金流更多（$-58.0M vs $-153.0M），过去两年CENTRUS ENERGY CORP的营收复合增速更高（82.9% vs 36.8%）
Centrus Energy Corp是美国能源企业，主营核电站所需核燃料供应，同时专注于离心技术的研发与落地推广，生产可应用于商业、政府场景及国家安全领域的浓缩铀产品。
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。
LEU vs PLUG — 直观对比
营收规模更大
PLUG
是对方的1.5倍
$146.2M
营收增速更快
PLUG
高出21.2%
-3.6%
自由现金流更多
LEU
多$95.0M
$-153.0M
两年增速更快
LEU
近两年复合增速
36.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $146.2M | $225.2M |
| 净利润 | — | $-846.0M |
| 毛利率 | 23.9% | 2.4% |
| 营业利润率 | 8.8% | -338.9% |
| 净利率 | — | -375.6% |
| 营收同比 | -3.6% | 17.6% |
| 净利润同比 | — | 36.7% |
| 每股收益（稀释后） | $0.52 | $-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LEUPLUG
| Q4 25 | $146.2M | $225.2M | ||
| Q3 25 | $74.9M | $177.1M | ||
| Q2 25 | $154.5M | $174.0M | ||
| Q1 25 | $73.1M | $133.7M | ||
| Q4 24 | $151.6M | $191.5M | ||
| Q3 24 | $57.7M | $173.7M | ||
| Q2 24 | $189.0M | $143.3M | ||
| Q1 24 | $43.7M | $120.3M |
净利润LEUPLUG
| Q4 25 | — | $-846.0M | ||
| Q3 25 | $3.9M | $-361.9M | ||
| Q2 25 | $28.9M | $-227.1M | ||
| Q1 25 | $27.2M | $-196.7M | ||
| Q4 24 | — | $-1.3B | ||
| Q3 24 | $-5.0M | $-211.2M | ||
| Q2 24 | $30.6M | $-262.3M | ||
| Q1 24 | $-6.1M | $-295.8M |
毛利率LEUPLUG
| Q4 25 | 23.9% | 2.4% | ||
| Q3 25 | -5.7% | -67.9% | ||
| Q2 25 | 34.9% | -30.7% | ||
| Q1 25 | 45.0% | -55.3% | ||
| Q4 24 | 40.8% | -122.5% | ||
| Q3 24 | 15.4% | -57.6% | ||
| Q2 24 | 19.3% | -91.6% | ||
| Q1 24 | 9.8% | -132.3% |
营业利润率LEUPLUG
| Q4 25 | 8.8% | -338.9% | ||
| Q3 25 | -22.2% | -197.0% | ||
| Q2 25 | 21.7% | -101.7% | ||
| Q1 25 | 28.0% | -133.5% | ||
| Q4 24 | 29.7% | -678.7% | ||
| Q3 24 | -13.2% | -124.4% | ||
| Q2 24 | 11.2% | -170.7% | ||
| Q1 24 | -24.3% | -215.7% |
净利率LEUPLUG
| Q4 25 | — | -375.6% | ||
| Q3 25 | 5.2% | -204.4% | ||
| Q2 25 | 18.7% | -130.5% | ||
| Q1 25 | 37.2% | -147.1% | ||
| Q4 24 | — | -697.5% | ||
| Q3 24 | -8.7% | -121.5% | ||
| Q2 24 | 16.2% | -183.0% | ||
| Q1 24 | -14.0% | -245.9% |
每股收益（稀释后）LEUPLUG
| Q4 25 | $0.52 | $-0.70 | ||
| Q3 25 | $0.19 | $-0.31 | ||
| Q2 25 | $1.59 | $-0.20 | ||
| Q1 25 | $1.60 | $-0.21 | ||
| Q4 24 | $3.26 | $-1.61 | ||
| Q3 24 | $-0.30 | $-0.25 | ||
| Q2 24 | $1.89 | $-0.36 | ||
| Q1 24 | $-0.38 | $-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 | $2.0B | $368.5M |
| 总债务越低越好 | $1.2B | — |
| 股东权益账面价值 | $765.1M | $978.1M |
| 总资产 | $2.4B | $2.6B |
| 负债/权益比越低杠杆越低 | 1.54× | — |
8季度趋势，按日历期对齐
现金及短期投资LEUPLUG
| Q4 25 | $2.0B | $368.5M | ||
| Q3 25 | $1.6B | $165.9M | ||
| Q2 25 | $833.0M | $140.7M | ||
| Q1 25 | $653.0M | $295.8M | ||
| Q4 24 | $671.4M | $205.7M | ||
| Q3 24 | $194.3M | $93.9M | ||
| Q2 24 | $227.0M | $62.4M | ||
| Q1 24 | $209.3M | $172.9M |
总债务LEUPLUG
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $390.0M | — | ||
| Q1 25 | $389.5M | — | ||
| Q4 24 | $472.5M | — | ||
| Q3 24 | $83.5M | $3.9M | ||
| Q2 24 | $86.5M | $3.7M | ||
| Q1 24 | $86.5M | $3.8M |
股东权益LEUPLUG
| Q4 25 | $765.1M | $978.1M | ||
| Q3 25 | $363.1M | $1.4B | ||
| Q2 25 | $359.1M | $1.7B | ||
| Q1 25 | $213.9M | $1.9B | ||
| Q4 24 | $161.4M | $1.7B | ||
| Q3 24 | $76.4M | $3.0B | ||
| Q2 24 | $76.6M | $3.0B | ||
| Q1 24 | $33.8M | $2.9B |
总资产LEUPLUG
| Q4 25 | $2.4B | $2.6B | ||
| Q3 25 | $2.2B | $3.1B | ||
| Q2 25 | $1.3B | $3.4B | ||
| Q1 25 | $1.3B | $3.6B | ||
| Q4 24 | $1.1B | $3.6B | ||
| Q3 24 | $591.0M | $4.7B | ||
| Q2 24 | $668.2M | $4.8B | ||
| Q1 24 | $750.0M | $4.8B |
负债/权益比LEUPLUG
| Q4 25 | 1.54× | — | ||
| Q3 25 | 3.23× | — | ||
| Q2 25 | 1.09× | — | ||
| Q1 25 | 1.82× | — | ||
| Q4 24 | 2.93× | — | ||
| Q3 24 | 1.09× | 0.00× | ||
| Q2 24 | 1.13× | 0.00× | ||
| Q1 24 | 2.56× | 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 | $-48.4M | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | $-58.0M | $-153.0M |
| 自由现金流率自由现金流/营收 | -39.7% | -67.9% |
| 资本支出强度资本支出/营收 | 6.6% | 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 | $31.3M | $-647.0M |
8季度趋势，按日历期对齐
经营现金流LEUPLUG
| Q4 25 | $-48.4M | $-148.6M | ||
| Q3 25 | $10.1M | $-89.8M | ||
| Q2 25 | $52.8M | $-191.8M | ||
| Q1 25 | $36.5M | $-105.6M | ||
| Q4 24 | $57.9M | $-131.2M | ||
| Q3 24 | $-33.2M | $-174.9M | ||
| Q2 24 | $7.0M | $-254.7M | ||
| Q1 24 | $5.3M | $-167.7M |
自由现金流LEUPLUG
| Q4 25 | $-58.0M | $-153.0M | ||
| Q3 25 | $5.7M | $-117.5M | ||
| Q2 25 | $49.2M | $-230.4M | ||
| Q1 25 | $34.4M | $-146.0M | ||
| Q4 24 | $57.2M | $-165.2M | ||
| Q3 24 | $-34.2M | $-234.2M | ||
| Q2 24 | $6.1M | $-356.0M | ||
| Q1 24 | $3.8M | $-260.3M |
自由现金流率LEUPLUG
| Q4 25 | -39.7% | -67.9% | ||
| Q3 25 | 7.6% | -66.4% | ||
| Q2 25 | 31.8% | -132.5% | ||
| Q1 25 | 47.1% | -109.2% | ||
| Q4 24 | 37.7% | -86.3% | ||
| Q3 24 | -59.3% | -134.8% | ||
| Q2 24 | 3.2% | -248.4% | ||
| Q1 24 | 8.7% | -216.5% |
资本支出强度LEUPLUG
| Q4 25 | 6.6% | 1.9% | ||
| Q3 25 | 5.9% | 15.6% | ||
| Q2 25 | 2.3% | 22.2% | ||
| Q1 25 | 2.9% | 30.3% | ||
| Q4 24 | 0.5% | 17.7% | ||
| Q3 24 | 1.7% | 34.1% | ||
| Q2 24 | 0.5% | 70.7% | ||
| Q1 24 | 3.4% | 77.0% |
现金转化率LEUPLUG
| Q4 25 | — | — | ||
| Q3 25 | 2.59× | — | ||
| Q2 25 | 1.83× | — | ||
| Q1 25 | 1.34× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.23× | — | ||
| 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
LEU
| Separative Work Units | $111.0M | 76% |
| Services | $21.8M | 15% |
| Other | $13.4M | 9% |
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% |
