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切尼尔能源（LNG）与WESCO INTERNATIONAL INC（WCC）财务数据对比。点击上方公司名可切换其他公司
WESCO INTERNATIONAL INC的季度营收约是切尼尔能源的1.1倍（$6.1B vs $5.4B），切尼尔能源净利率更高（42.8% vs 2.6%，领先40.2%），切尼尔能源同比增速更快（20.3% vs 10.3%），切尼尔能源自由现金流更多（$1.3B vs $27.5M），过去两年切尼尔能源的营收复合增速更高（14.3% vs 6.5%）
切尼尔能源（Cheniere Energy, Inc.）是总部位于美国得克萨斯州休斯敦的液化天然气（LNG）企业，专注于液化天然气的生产与供应业务，是北美地区颇具影响力的能源行业参与者。
WESCO国际是一家美国上市控股公司，旗下子公司WESCO Distribution主营电气产品分销及相关服务，总部位于宾夕法尼亚州匹兹堡市，可为工业、基建、商业等多领域客户提供一站式电气供应链解决方案与技术支持服务。
LNG vs WCC — 直观对比
营收规模更大
WCC
是对方的1.1倍
$5.4B
营收增速更快
LNG
高出9.9%
10.3%
净利率更高
LNG
高出40.2%
2.6%
自由现金流更多
LNG
多$1.3B
$27.5M
两年增速更快
LNG
近两年复合增速
6.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $6.1B |
| 净利润 | $2.3B | $159.8M |
| 毛利率 | — | 21.2% |
| 营业利润率 | 70.8% | 5.3% |
| 净利率 | 42.8% | 2.6% |
| 营收同比 | 20.3% | 10.3% |
| 净利润同比 | 135.6% | -3.4% |
| 每股收益（稀释后） | $10.51 | $3.33 |
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LNGWCC
| Q4 25 | $5.4B | $6.1B | ||
| Q3 25 | $4.3B | $6.2B | ||
| Q2 25 | $4.5B | $5.9B | ||
| Q1 25 | $5.3B | $5.3B | ||
| Q4 24 | $4.5B | $5.5B | ||
| Q3 24 | $3.7B | $5.5B | ||
| Q2 24 | $3.1B | $5.5B | ||
| Q1 24 | $4.1B | $5.3B |
净利润LNGWCC
| Q4 25 | $2.3B | $159.8M | ||
| Q3 25 | $1.0B | $187.5M | ||
| Q2 25 | $1.6B | $174.5M | ||
| Q1 25 | $353.0M | $118.4M | ||
| Q4 24 | $977.0M | $165.4M | ||
| Q3 24 | $893.0M | $204.3M | ||
| Q2 24 | $880.0M | $232.1M | ||
| Q1 24 | $502.0M | $115.8M |
毛利率LNGWCC
| Q4 25 | — | 21.2% | ||
| Q3 25 | — | 21.3% | ||
| Q2 25 | — | 21.1% | ||
| Q1 25 | — | 21.1% | ||
| Q4 24 | — | 21.2% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 21.9% | ||
| Q1 24 | — | 21.3% |
营业利润率LNGWCC
| Q4 25 | 70.8% | 5.3% | ||
| Q3 25 | 42.3% | 5.6% | ||
| Q2 25 | 56.1% | 5.5% | ||
| Q1 25 | 18.2% | 4.5% | ||
| Q4 24 | 38.9% | 5.5% | ||
| Q3 24 | 44.7% | 6.1% | ||
| Q2 24 | 50.5% | 5.9% | ||
| Q1 24 | 28.0% | 4.9% |
净利率LNGWCC
| Q4 25 | 42.8% | 2.6% | ||
| Q3 25 | 24.4% | 3.0% | ||
| Q2 25 | 36.1% | 3.0% | ||
| Q1 25 | 6.7% | 2.2% | ||
| Q4 24 | 21.9% | 3.0% | ||
| Q3 24 | 24.2% | 3.7% | ||
| Q2 24 | 28.0% | 4.2% | ||
| Q1 24 | 12.2% | 2.2% |
每股收益（稀释后）LNGWCC
| Q4 25 | $10.51 | $3.33 | ||
| Q3 25 | $4.75 | $3.79 | ||
| Q2 25 | $7.30 | $3.83 | ||
| Q1 25 | $1.57 | $2.10 | ||
| Q4 24 | $4.30 | $3.01 | ||
| Q3 24 | $3.93 | $3.81 | ||
| Q2 24 | $3.84 | $4.28 | ||
| Q1 24 | $2.13 | $1.95 |
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 | $1.1B | — |
| 总债务越低越好 | $22.5B | — |
| 股东权益账面价值 | $7.9B | $5.0B |
| 总资产 | $47.9B | $16.5B |
| 负债/权益比越低杠杆越低 | 2.84× | — |
8季度趋势，按日历期对齐
现金及短期投资LNGWCC
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $2.5B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $4.4B | — |
总债务LNGWCC
| Q4 25 | $22.5B | — | ||
| Q3 25 | $22.0B | — | ||
| Q2 25 | $22.0B | — | ||
| Q1 25 | $22.5B | — | ||
| Q4 24 | $22.6B | — | ||
| Q3 24 | $22.5B | — | ||
| Q2 24 | $22.6B | — | ||
| Q1 24 | $21.4B | — |
股东权益LNGWCC
| Q4 25 | $7.9B | $5.0B | ||
| Q3 25 | $6.7B | $4.8B | ||
| Q2 25 | $6.7B | $4.8B | ||
| Q1 25 | $5.6B | $5.0B | ||
| Q4 24 | $5.7B | $5.0B | ||
| Q3 24 | $5.1B | $5.0B | ||
| Q2 24 | $4.5B | $4.9B | ||
| Q1 24 | $4.3B | $5.0B |
总资产LNGWCC
| Q4 25 | $47.9B | $16.5B | ||
| Q3 25 | $45.1B | $16.6B | ||
| Q2 25 | $44.6B | $16.2B | ||
| Q1 25 | $43.5B | $15.5B | ||
| Q4 24 | $43.9B | $15.1B | ||
| Q3 24 | $43.1B | $15.3B | ||
| Q2 24 | $42.3B | $15.1B | ||
| Q1 24 | $42.9B | $15.5B |
负债/权益比LNGWCC
| Q4 25 | 2.84× | — | ||
| Q3 25 | 3.25× | — | ||
| Q2 25 | 3.28× | — | ||
| Q1 25 | 4.03× | — | ||
| Q4 24 | 3.96× | — | ||
| Q3 24 | 4.42× | — | ||
| Q2 24 | 5.06× | — | ||
| Q1 24 | 5.04× | — |
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 | $2.1B | $71.9M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $27.5M |
| 自由现金流率自由现金流/营收 | 24.4% | 0.5% |
| 资本支出强度资本支出/营收 | 13.8% | 0.7% |
| 现金转化率经营现金流/净利润 | 0.89× | 0.45× |
| 过去12个月自由现金流最近4个季度 | $2.5B | $25.2M |
8季度趋势，按日历期对齐
经营现金流LNGWCC
| Q4 25 | $2.1B | $71.9M | ||
| Q3 25 | $1.4B | $-82.7M | ||
| Q2 25 | $831.0M | $107.8M | ||
| Q1 25 | $1.2B | $28.0M | ||
| Q4 24 | $1.6B | $276.6M | ||
| Q3 24 | $1.4B | $302.1M | ||
| Q2 24 | $1.1B | $-223.8M | ||
| Q1 24 | $1.2B | $746.3M |
自由现金流LNGWCC
| Q4 25 | $1.3B | $27.5M | ||
| Q3 25 | $738.0M | $-95.9M | ||
| Q2 25 | $-193.0M | $86.0M | ||
| Q1 25 | $605.0M | $7.6M | ||
| Q4 24 | $1.1B | $252.3M | ||
| Q3 24 | $875.0M | $272.9M | ||
| Q2 24 | $613.0M | $-244.6M | ||
| Q1 24 | $596.0M | $725.9M |
自由现金流率LNGWCC
| Q4 25 | 24.4% | 0.5% | ||
| Q3 25 | 17.2% | -1.5% | ||
| Q2 25 | -4.3% | 1.5% | ||
| Q1 25 | 11.4% | 0.1% | ||
| Q4 24 | 24.0% | 4.6% | ||
| Q3 24 | 23.8% | 5.0% | ||
| Q2 24 | 19.5% | -4.5% | ||
| Q1 24 | 14.5% | 13.6% |
资本支出强度LNGWCC
| Q4 25 | 13.8% | 0.7% | ||
| Q3 25 | 16.0% | 0.2% | ||
| Q2 25 | 22.7% | 0.4% | ||
| Q1 25 | 11.8% | 0.4% | ||
| Q4 24 | 12.7% | 0.4% | ||
| Q3 24 | 14.0% | 0.5% | ||
| Q2 24 | 16.0% | 0.4% | ||
| Q1 24 | 15.8% | 0.4% |
现金转化率LNGWCC
| Q4 25 | 0.89× | 0.45× | ||
| Q3 25 | 1.36× | -0.44× | ||
| Q2 25 | 0.51× | 0.62× | ||
| Q1 25 | 3.48× | 0.24× | ||
| Q4 24 | 1.68× | 1.67× | ||
| Q3 24 | 1.56× | 1.48× | ||
| Q2 24 | 1.27× | -0.96× | ||
| Q1 24 | 2.48× | 6.44× |
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
LNG
| Liquefied Natural Gas | $5.3B | 99% |
| Other | $103.0M | 2% |
| Regasification Service | $34.0M | 1% |
WCC
| CSS | $2.4B | 40% |
| EES | $2.3B | 37% |
| UBS | $1.4B | 23% |
