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Alliant Energy（LNT）与Meritage Homes CORP（MTH）财务数据对比。点击上方公司名可切换其他公司
Meritage Homes CORP的季度营收约是Alliant Energy的1.3倍（$1.4B vs $1.1B），Meritage Homes CORP净利率更高（17.7% vs 13.4%，领先4.3%），Meritage Homes CORP同比增速更快（10.5% vs 9.0%）
Alliant Energy是美国公用事业控股企业，主营受监管的电力与天然气服务，下设公用电力运营、公用燃气运营及其他公用事业三大业务板块。公司通过子公司Interstate Power and Light Company（IPL）为艾奥瓦州零售客户提供发电配电、天然气配送及运输服务，同时向明尼苏达州、伊利诺伊州等地的批发客户售电。
Meritage Homes Corporation是美国上市房地产开发企业，主营全美范围内各类独栋住宅建造业务，按2023年房屋销量计算为美国第五大住宅建筑商，同时在亚利桑那州开发活跃长者社区及高端地产项目。
LNT vs MTH — 直观对比
营收规模更大
MTH
是对方的1.3倍
$1.1B
营收增速更快
MTH
高出1.5%
9.0%
净利率更高
MTH
高出4.3%
13.4%
损益表 — Q4 FY2025 vs Q2 FY2022
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.4B |
| 净利润 | $142.0M | $250.1M |
| 毛利率 | 85.9% | 31.5% |
| 营业利润率 | 18.4% | 23.5% |
| 净利率 | 13.4% | 17.7% |
| 营收同比 | 9.0% | 10.5% |
| 净利润同比 | -5.3% | 49.4% |
| 每股收益（稀释后） | $0.54 | $6.77 |
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LNTMTH
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $961.0M | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $975.0M | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $894.0M | — | ||
| Q1 24 | $1.0B | — |
净利润LNTMTH
| Q4 25 | $142.0M | — | ||
| Q3 25 | $281.0M | — | ||
| Q2 25 | $174.0M | — | ||
| Q1 25 | $213.0M | — | ||
| Q4 24 | $150.0M | — | ||
| Q3 24 | $295.0M | — | ||
| Q2 24 | $87.0M | — | ||
| Q1 24 | $158.0M | — |
毛利率LNTMTH
| Q4 25 | 85.9% | — | ||
| Q3 25 | 86.3% | — | ||
| Q2 25 | 84.3% | — | ||
| Q1 25 | 86.0% | — | ||
| Q4 24 | 84.7% | — | ||
| Q3 24 | 84.7% | — | ||
| Q2 24 | 83.6% | — | ||
| Q1 24 | 85.3% | — |
营业利润率LNTMTH
| Q4 25 | 18.4% | — | ||
| Q3 25 | 28.8% | — | ||
| Q2 25 | 23.2% | — | ||
| Q1 25 | 22.8% | — | ||
| Q4 24 | 22.7% | — | ||
| Q3 24 | 29.0% | — | ||
| Q2 24 | 14.5% | — | ||
| Q1 24 | 21.5% | — |
净利率LNTMTH
| Q4 25 | 13.4% | — | ||
| Q3 25 | 23.2% | — | ||
| Q2 25 | 18.1% | — | ||
| Q1 25 | 18.9% | — | ||
| Q4 24 | 15.4% | — | ||
| Q3 24 | 27.3% | — | ||
| Q2 24 | 9.7% | — | ||
| Q1 24 | 15.3% | — |
每股收益（稀释后）LNTMTH
| Q4 25 | $0.54 | — | ||
| Q3 25 | $1.09 | — | ||
| Q2 25 | $0.68 | — | ||
| Q1 25 | $0.83 | — | ||
| Q4 24 | $0.58 | — | ||
| Q3 24 | $1.15 | — | ||
| Q2 24 | $0.34 | — | ||
| Q1 24 | $0.62 | — |
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 | $556.0M | $272.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.3B | $3.4B |
| 总资产 | $25.0B | $5.3B |
| 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LNTMTH
| Q4 25 | $556.0M | — | ||
| Q3 25 | $753.0M | — | ||
| Q2 25 | $329.0M | — | ||
| Q1 25 | $25.0M | — | ||
| Q4 24 | $81.0M | — | ||
| Q3 24 | $827.0M | — | ||
| Q2 24 | $92.0M | — | ||
| Q1 24 | $32.0M | — |
股东权益LNTMTH
| Q4 25 | $7.3B | — | ||
| Q3 25 | $7.3B | — | ||
| Q2 25 | $7.1B | — | ||
| Q1 25 | $7.1B | — | ||
| Q4 24 | $7.0B | — | ||
| Q3 24 | $7.0B | — | ||
| Q2 24 | $6.8B | — | ||
| Q1 24 | $6.8B | — |
总资产LNTMTH
| Q4 25 | $25.0B | — | ||
| Q3 25 | $24.6B | — | ||
| Q2 25 | $23.8B | — | ||
| Q1 25 | $22.9B | — | ||
| Q4 24 | $22.7B | — | ||
| Q3 24 | $22.8B | — | ||
| Q2 24 | $21.8B | — | ||
| Q1 24 | $21.2B | — |
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 | $269.0M | $-219.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-225.4M |
| 自由现金流率自由现金流/营收 | — | -16.0% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 现金转化率经营现金流/净利润 | 1.89× | -0.88× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流LNTMTH
| Q4 25 | $269.0M | — | ||
| Q3 25 | $408.0M | — | ||
| Q2 25 | $243.0M | — | ||
| Q1 25 | $249.0M | — | ||
| Q4 24 | $254.0M | — | ||
| Q3 24 | $351.0M | — | ||
| Q2 24 | $255.0M | — | ||
| Q1 24 | $307.0M | — |
自由现金流LNTMTH
| Q4 25 | — | — | ||
| Q3 25 | $-103.0M | — | ||
| Q2 25 | $-179.0M | — | ||
| Q1 25 | $-305.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-59.0M | — | ||
| Q2 24 | $-137.0M | — | ||
| Q1 24 | $-171.0M | — |
自由现金流率LNTMTH
| Q4 25 | — | — | ||
| Q3 25 | -8.5% | — | ||
| Q2 25 | -18.6% | — | ||
| Q1 25 | -27.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -5.5% | — | ||
| Q2 24 | -15.3% | — | ||
| Q1 24 | -16.6% | — |
资本支出强度LNTMTH
| Q4 25 | — | — | ||
| Q3 25 | 42.2% | — | ||
| Q2 25 | 43.9% | — | ||
| Q1 25 | 49.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 37.9% | — | ||
| Q2 24 | 43.8% | — | ||
| Q1 24 | 46.4% | — |
现金转化率LNTMTH
| Q4 25 | 1.89× | — | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | 1.40× | — | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 1.69× | — | ||
| Q3 24 | 1.19× | — | ||
| Q2 24 | 2.93× | — | ||
| Q1 24 | 1.94× | — |
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
LNT
| Retail Residential | $313.0M | 29% |
| Retail Industrial | $251.0M | 24% |
| Retail Commercial | $226.0M | 21% |
| Gas | $158.0M | 15% |
| Other Customer | $43.0M | 4% |
| Wholesale | $36.0M | 3% |
| Other Utility | $15.0M | 1% |
| Steam | $9.0M | 1% |
MTH
| Home Building | $1.4B | 100% |
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $9.8M | 1% |
| Financial Service | $5.1M | 0% |
| Land Closing | $3.4M | 0% |
