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林德（LIN）与PG&E Corporation（PCG）财务数据对比。点击上方公司名可切换其他公司
林德的季度营收约是PG&E Corporation的1.3倍（$8.8B vs $6.9B），林德净利率更高（17.5% vs 12.9%，领先4.6%），PG&E Corporation同比增速更快（15.0% vs 5.8%），过去两年PG&E Corporation的营收复合增速更高（7.2% vs 4.0%）
林德是全球知名跨国化工企业，按市场份额及营收计为全球最大工业气体供应商。公司1879年由德国科学家、工程师卡尔·冯·林德在德国威斯巴登创立，现总部位于英国沃金，在爱尔兰注册，2018年由原林德股份公司与1907年在美国成立的普莱克斯合并组建。
PG&E Corporation是美国由投资者持有运营的公用事业企业，总部坐落于加利福尼亚州奥克兰市凯撒中心，为加州北部三分之二区域的520万户家庭提供天然气与电力供应服务，服务范围涵盖贝克斯菲尔德、圣巴巴拉县北部，几乎延伸至俄勒冈州与内华达州的州界。
LIN vs PCG — 直观对比
营收规模更大
LIN
是对方的1.3倍
$6.9B
营收增速更快
PCG
高出9.2%
5.8%
净利率更高
LIN
高出4.6%
12.9%
两年增速更快
PCG
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $8.8B | $6.9B |
| 净利润 | $1.5B | $885.0M |
| 毛利率 | — | — |
| 营业利润率 | 23.0% | 21.4% |
| 净利率 | 17.5% | 12.9% |
| 营收同比 | 5.8% | 15.0% |
| 净利润同比 | -11.3% | 39.6% |
| 每股收益（稀释后） | $3.28 | $0.39 |
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LINPCG
| Q1 26 | — | $6.9B | ||
| Q4 25 | $8.8B | $6.8B | ||
| Q3 25 | $8.6B | $6.3B | ||
| Q2 25 | $8.5B | $5.9B | ||
| Q1 25 | $8.1B | $6.0B | ||
| Q4 24 | $8.3B | $6.6B | ||
| Q3 24 | $8.4B | $5.9B | ||
| Q2 24 | $8.3B | $6.0B |
净利润LINPCG
| Q1 26 | — | $885.0M | ||
| Q4 25 | $1.5B | $670.0M | ||
| Q3 25 | $1.9B | $850.0M | ||
| Q2 25 | $1.8B | $549.0M | ||
| Q1 25 | $1.7B | $634.0M | ||
| Q4 24 | $1.7B | $674.0M | ||
| Q3 24 | $1.6B | $579.0M | ||
| Q2 24 | $1.7B | $524.0M |
营业利润率LINPCG
| Q1 26 | — | 21.4% | ||
| Q4 25 | 23.0% | 18.0% | ||
| Q3 25 | 27.5% | 19.3% | ||
| Q2 25 | 27.7% | 18.6% | ||
| Q1 25 | 26.9% | 20.4% | ||
| Q4 24 | 27.4% | 15.4% | ||
| Q3 24 | 25.0% | 17.3% | ||
| Q2 24 | 26.4% | 18.9% |
净利率LINPCG
| Q1 26 | — | 12.9% | ||
| Q4 25 | 17.5% | 9.8% | ||
| Q3 25 | 22.4% | 13.6% | ||
| Q2 25 | 20.8% | 9.3% | ||
| Q1 25 | 20.6% | 10.6% | ||
| Q4 24 | 20.8% | 10.2% | ||
| Q3 24 | 18.5% | 9.7% | ||
| Q2 24 | 20.1% | 8.8% |
每股收益（稀释后）LINPCG
| Q1 26 | — | $0.39 | ||
| Q4 25 | $3.28 | $0.29 | ||
| Q3 25 | $4.09 | $0.37 | ||
| Q2 25 | $3.73 | $0.24 | ||
| Q1 25 | $3.51 | $0.28 | ||
| Q4 24 | $3.61 | $0.30 | ||
| Q3 24 | $3.22 | $0.27 | ||
| Q2 24 | $3.44 | $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 | $5.1B | — |
| 总债务越低越好 | $20.7B | — |
| 股东权益账面价值 | $38.2B | — |
| 总资产 | $86.8B | — |
| 负债/权益比越低杠杆越低 | 0.54× | — |
8季度趋势，按日历期对齐
现金及短期投资LINPCG
| Q1 26 | — | — | ||
| Q4 25 | $5.1B | $713.0M | ||
| Q3 25 | $4.5B | $404.0M | ||
| Q2 25 | $4.8B | $494.0M | ||
| Q1 25 | $5.3B | $2.0B | ||
| Q4 24 | $4.8B | $940.0M | ||
| Q3 24 | $5.2B | $895.0M | ||
| Q2 24 | $4.6B | $1.3B |
总债务LINPCG
| Q1 26 | — | — | ||
| Q4 25 | $20.7B | $57.4B | ||
| Q3 25 | $18.6B | — | ||
| Q2 25 | $19.7B | — | ||
| Q1 25 | $17.6B | — | ||
| Q4 24 | $15.3B | $53.6B | ||
| Q3 24 | $17.5B | — | ||
| Q2 24 | $16.9B | — |
股东权益LINPCG
| Q1 26 | — | — | ||
| Q4 25 | $38.2B | $32.5B | ||
| Q3 25 | $38.6B | $32.0B | ||
| Q2 25 | $38.5B | $31.2B | ||
| Q1 25 | $38.0B | $30.7B | ||
| Q4 24 | $38.1B | $30.1B | ||
| Q3 24 | $39.2B | $26.8B | ||
| Q2 24 | $38.2B | $26.3B |
总资产LINPCG
| Q1 26 | — | — | ||
| Q4 25 | $86.8B | $141.6B | ||
| Q3 25 | $86.0B | $138.2B | ||
| Q2 25 | $86.1B | $136.4B | ||
| Q1 25 | $82.7B | $135.4B | ||
| Q4 24 | $80.1B | $133.7B | ||
| Q3 24 | $82.5B | $132.3B | ||
| Q2 24 | $80.2B | $130.8B |
负债/权益比LINPCG
| Q1 26 | — | — | ||
| Q4 25 | 0.54× | 1.76× | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.51× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 0.40× | 1.78× | ||
| Q3 24 | 0.45× | — | ||
| Q2 24 | 0.44× | — |
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 | $3.0B | — |
| 自由现金流经营现金流 - 资本支出 | $1.6B | — |
| 自由现金流率自由现金流/营收 | 17.9% | — |
| 资本支出强度资本支出/营收 | 16.6% | — |
| 现金转化率经营现金流/净利润 | 1.98× | — |
| 过去12个月自由现金流最近4个季度 | $5.1B | — |
8季度趋势，按日历期对齐
经营现金流LINPCG
| Q1 26 | — | — | ||
| Q4 25 | $3.0B | $2.0B | ||
| Q3 25 | $2.9B | $2.9B | ||
| Q2 25 | $2.2B | $1.1B | ||
| Q1 25 | $2.2B | $2.8B | ||
| Q4 24 | $2.8B | $1.9B | ||
| Q3 24 | $2.7B | $3.1B | ||
| Q2 24 | $1.9B | $711.0M |
自由现金流LINPCG
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $-1.2B | ||
| Q3 25 | $1.7B | $-80.0M | ||
| Q2 25 | $954.0M | $-2.0B | ||
| Q1 25 | $891.0M | $213.0M | ||
| Q4 24 | $1.6B | $-896.0M | ||
| Q3 24 | $1.7B | $526.0M | ||
| Q2 24 | $796.0M | $-1.6B |
自由现金流率LINPCG
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | -17.6% | ||
| Q3 25 | 19.4% | -1.3% | ||
| Q2 25 | 11.2% | -34.0% | ||
| Q1 25 | 11.0% | 3.6% | ||
| Q4 24 | 18.8% | -13.5% | ||
| Q3 24 | 19.9% | 8.9% | ||
| Q2 24 | 9.6% | -26.5% |
资本支出强度LINPCG
| Q1 26 | — | — | ||
| Q4 25 | 16.6% | 46.4% | ||
| Q3 25 | 14.8% | 46.9% | ||
| Q2 25 | 14.8% | 52.0% | ||
| Q1 25 | 15.7% | 44.0% | ||
| Q4 24 | 15.1% | 42.6% | ||
| Q3 24 | 12.8% | 43.8% | ||
| Q2 24 | 13.7% | 38.4% |
现金转化率LINPCG
| Q1 26 | — | — | ||
| Q4 25 | 1.98× | 2.93× | ||
| Q3 25 | 1.53× | 3.35× | ||
| Q2 25 | 1.25× | 1.93× | ||
| Q1 25 | 1.29× | 4.49× | ||
| Q4 24 | 1.63× | 2.87× | ||
| Q3 24 | 1.76× | 5.41× | ||
| Q2 24 | 1.16× | 1.36× |
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
LIN
| Other | $4.9B | 56% |
| Packaged Gas | $1.6B | 19% |
| Merchant | $1.2B | 14% |
| On Site | $950.0M | 11% |
| Other Distribution Methods | $64.0M | 1% |
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
