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林德（LIN）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
Vistra Corp.的季度营收约是林德的547.2倍（$4.8B vs $8.8M），Vistra Corp.同比增速更快（31.2% vs 8.2%），Vistra Corp.自由现金流更多（$596.0M vs $898.0K），过去两年Vistra Corp.的营收复合增速更高（23.3% vs -96.7%）
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。
股票代码为VST的Vistra Corp是总部位于美国得克萨斯州的能源企业，主营电力生产、可再生能源开发及能源零售等业务。此外“Vistra”也可指一家总部位于中国香港的企业服务提供商，为全球客户提供公司注册、合规管理等专业服务。
LIN vs VST — 直观对比
营收规模更大
VST
是对方的547.2倍
$8.8M
营收增速更快
VST
高出23.0%
8.2%
自由现金流更多
VST
多$595.1M
$898.0K
两年增速更快
VST
近两年复合增速
-96.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $8.8M | $4.8B |
| 净利润 | — | $233.0M |
| 毛利率 | 48.5% | — |
| 营业利润率 | 27.8% | 9.9% |
| 净利率 | — | 4.8% |
| 营收同比 | 8.2% | 31.2% |
| 净利润同比 | — | -47.2% |
| 每股收益（稀释后） | $3.98 | $0.55 |
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LINVST
| Q1 26 | $8.8M | — | ||
| Q4 25 | $8.8B | $4.8B | ||
| Q3 25 | $8.6B | $4.8B | ||
| Q2 25 | $8.5B | $3.8B | ||
| Q1 25 | $8.1B | $4.3B | ||
| Q4 24 | $8.3B | $3.7B | ||
| Q3 24 | $8.4B | $4.3B | ||
| Q2 24 | $8.3B | $3.6B |
净利润LINVST
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $233.0M | ||
| Q3 25 | $1.9B | $652.0M | ||
| Q2 25 | $1.8B | $327.0M | ||
| Q1 25 | $1.7B | $-268.0M | ||
| Q4 24 | $1.7B | $441.0M | ||
| Q3 24 | $1.6B | $1.9B | ||
| Q2 24 | $1.7B | $365.0M |
毛利率LINVST
| Q1 26 | 48.5% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率LINVST
| Q1 26 | 27.8% | — | ||
| Q4 25 | 23.0% | 9.9% | ||
| Q3 25 | 27.5% | 21.7% | ||
| Q2 25 | 27.7% | 13.7% | ||
| Q1 25 | 26.9% | -2.8% | ||
| Q4 24 | 27.4% | 16.4% | ||
| Q3 24 | 25.0% | 59.6% | ||
| Q2 24 | 26.4% | 22.5% |
净利率LINVST
| Q1 26 | — | — | ||
| Q4 25 | 17.5% | 4.8% | ||
| Q3 25 | 22.4% | 13.6% | ||
| Q2 25 | 20.8% | 8.7% | ||
| Q1 25 | 20.6% | -6.3% | ||
| Q4 24 | 20.8% | 12.0% | ||
| Q3 24 | 18.5% | 43.5% | ||
| Q2 24 | 20.1% | 10.1% |
每股收益（稀释后）LINVST
| Q1 26 | $3.98 | — | ||
| Q4 25 | $3.28 | $0.55 | ||
| Q3 25 | $4.09 | $1.75 | ||
| Q2 25 | $3.73 | $0.81 | ||
| Q1 25 | $3.51 | $-0.93 | ||
| Q4 24 | $3.61 | $1.09 | ||
| Q3 24 | $3.22 | $5.25 | ||
| Q2 24 | $3.44 | $0.90 |
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 | $4.0M | $785.0M |
| 总债务越低越好 | $24.7M | $15.8B |
| 股东权益账面价值 | $40.1M | $5.1B |
| 总资产 | $86.3M | $41.5B |
| 负债/权益比越低杠杆越低 | 0.62× | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资LINVST
| Q1 26 | $4.0M | — | ||
| Q4 25 | $5.1B | $785.0M | ||
| Q3 25 | $4.5B | $602.0M | ||
| Q2 25 | $4.8B | $458.0M | ||
| Q1 25 | $5.3B | $561.0M | ||
| Q4 24 | $4.8B | $1.2B | ||
| Q3 24 | $5.2B | $905.0M | ||
| Q2 24 | $4.6B | $1.6B |
总债务LINVST
| Q1 26 | $24.7M | — | ||
| Q4 25 | $20.7B | $15.8B | ||
| Q3 25 | $18.6B | $15.8B | ||
| Q2 25 | $19.7B | $15.5B | ||
| Q1 25 | $17.6B | $15.4B | ||
| Q4 24 | $15.3B | $15.4B | ||
| Q3 24 | $17.5B | $13.9B | ||
| Q2 24 | $16.9B | $13.9B |
股东权益LINVST
| Q1 26 | $40.1M | — | ||
| Q4 25 | $38.2B | $5.1B | ||
| Q3 25 | $38.6B | $5.2B | ||
| Q2 25 | $38.5B | $4.8B | ||
| Q1 25 | $38.0B | $4.8B | ||
| Q4 24 | $38.1B | $5.6B | ||
| Q3 24 | $39.2B | $5.4B | ||
| Q2 24 | $38.2B | $5.6B |
总资产LINVST
| Q1 26 | $86.3M | — | ||
| Q4 25 | $86.8B | $41.5B | ||
| Q3 25 | $86.0B | $38.0B | ||
| Q2 25 | $86.1B | $38.1B | ||
| Q1 25 | $82.7B | $38.2B | ||
| Q4 24 | $80.1B | $37.8B | ||
| Q3 24 | $82.5B | $37.9B | ||
| Q2 24 | $80.2B | $39.1B |
负债/权益比LINVST
| Q1 26 | 0.62× | — | ||
| Q4 25 | 0.54× | 3.11× | ||
| Q3 25 | 0.48× | 3.02× | ||
| Q2 25 | 0.51× | 3.22× | ||
| Q1 25 | 0.46× | 3.20× | ||
| Q4 24 | 0.40× | 2.77× | ||
| Q3 24 | 0.45× | 2.56× | ||
| Q2 24 | 0.44× | 2.49× |
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 | — | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $898.0K | $596.0M |
| 自由现金流率自由现金流/营收 | 10.2% | 12.4% |
| 资本支出强度资本支出/营收 | — | 17.4% |
| 现金转化率经营现金流/净利润 | — | 6.15× |
| 过去12个月自由现金流最近4个季度 | $4.2B | $1.3B |
8季度趋势，按日历期对齐
经营现金流LINVST
| Q1 26 | — | — | ||
| Q4 25 | $3.0B | $1.4B | ||
| Q3 25 | $2.9B | $1.5B | ||
| Q2 25 | $2.2B | $572.0M | ||
| Q1 25 | $2.2B | $599.0M | ||
| Q4 24 | $2.8B | $1.4B | ||
| Q3 24 | $2.7B | $1.7B | ||
| Q2 24 | $1.9B | $1.2B |
自由现金流LINVST
| Q1 26 | $898.0K | — | ||
| Q4 25 | $1.6B | $596.0M | ||
| Q3 25 | $1.7B | $1.0B | ||
| Q2 25 | $954.0M | $-118.0M | ||
| Q1 25 | $891.0M | $-169.0M | ||
| Q4 24 | $1.6B | $923.0M | ||
| Q3 24 | $1.7B | $1.0B | ||
| Q2 24 | $796.0M | $698.0M |
自由现金流率LINVST
| Q1 26 | 10.2% | — | ||
| Q4 25 | 17.9% | 12.4% | ||
| Q3 25 | 19.4% | 21.1% | ||
| Q2 25 | 11.2% | -3.1% | ||
| Q1 25 | 11.0% | -4.0% | ||
| Q4 24 | 18.8% | 25.2% | ||
| Q3 24 | 19.9% | 23.4% | ||
| Q2 24 | 9.6% | 19.4% |
资本支出强度LINVST
| Q1 26 | — | — | ||
| Q4 25 | 16.6% | 17.4% | ||
| Q3 25 | 14.8% | 9.6% | ||
| Q2 25 | 14.8% | 18.4% | ||
| Q1 25 | 15.7% | 18.1% | ||
| Q4 24 | 15.1% | 11.7% | ||
| Q3 24 | 12.8% | 15.8% | ||
| Q2 24 | 13.7% | 13.8% |
现金转化率LINVST
| Q1 26 | — | — | ||
| Q4 25 | 1.98× | 6.15× | ||
| Q3 25 | 1.53× | 2.25× | ||
| Q2 25 | 1.25× | 1.75× | ||
| Q1 25 | 1.29× | — | ||
| Q4 24 | 1.63× | 3.07× | ||
| Q3 24 | 1.76× | 0.90× | ||
| Q2 24 | 1.16× | 3.28× |
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
暂无分部数据
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
