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万事达卡（MA）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
万事达卡的季度营收约是Vistra Corp.的1.7倍（$8.4B vs $4.8B），万事达卡净利率更高（46.4% vs 4.8%，领先41.6%），Vistra Corp.同比增速更快（31.2% vs 16.0%），过去两年Vistra Corp.的营收复合增速更高（23.3% vs 9.9%）
万事达卡是总部位于美国纽约帕切斯的跨国支付卡服务企业，核心业务为处理商户收单银行与持卡人发卡机构之间的支付交易，同时提供旗下品牌借记卡、信用卡、预付卡及相关配套支付服务，服务网络覆盖全球，于2006年公开上市。
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。
MA vs VST — 直观对比
营收规模更大
MA
是对方的1.7倍
$4.8B
营收增速更快
VST
高出15.2%
16.0%
净利率更高
MA
高出41.6%
4.8%
两年增速更快
VST
近两年复合增速
9.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $8.4B | $4.8B |
| 净利润 | $3.9B | $233.0M |
| 毛利率 | — | — |
| 营业利润率 | 58.3% | 9.9% |
| 净利率 | 46.4% | 4.8% |
| 营收同比 | 16.0% | 31.2% |
| 净利润同比 | 18.0% | -47.2% |
| 每股收益（稀释后） | $4.35 | $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MAVST
| Q1 26 | $8.4B | — | ||
| Q4 25 | $8.8B | $4.8B | ||
| Q3 25 | $8.6B | $4.8B | ||
| Q2 25 | $8.1B | $3.8B | ||
| Q1 25 | $7.3B | $4.3B | ||
| Q4 24 | $7.5B | $3.7B | ||
| Q3 24 | $7.4B | $4.3B | ||
| Q2 24 | $7.0B | $3.6B |
净利润MAVST
| Q1 26 | $3.9B | — | ||
| Q4 25 | $4.1B | $233.0M | ||
| Q3 25 | $3.9B | $652.0M | ||
| Q2 25 | $3.7B | $327.0M | ||
| Q1 25 | $3.3B | $-268.0M | ||
| Q4 24 | $3.3B | $441.0M | ||
| Q3 24 | $3.3B | $1.9B | ||
| Q2 24 | $3.3B | $365.0M |
营业利润率MAVST
| Q1 26 | 58.3% | — | ||
| Q4 25 | 55.8% | 9.9% | ||
| Q3 25 | 58.8% | 21.7% | ||
| Q2 25 | 58.7% | 13.7% | ||
| Q1 25 | 57.2% | -2.8% | ||
| Q4 24 | 52.6% | 16.4% | ||
| Q3 24 | 54.3% | 59.6% | ||
| Q2 24 | 58.0% | 22.5% |
净利率MAVST
| Q1 26 | 46.4% | — | ||
| Q4 25 | 46.1% | 4.8% | ||
| Q3 25 | 45.7% | 13.6% | ||
| Q2 25 | 45.5% | 8.7% | ||
| Q1 25 | 45.2% | -6.3% | ||
| Q4 24 | 44.6% | 12.0% | ||
| Q3 24 | 44.3% | 43.5% | ||
| Q2 24 | 46.8% | 10.1% |
每股收益（稀释后）MAVST
| Q1 26 | $4.35 | — | ||
| Q4 25 | $4.52 | $0.55 | ||
| Q3 25 | $4.34 | $1.75 | ||
| Q2 25 | $4.07 | $0.81 | ||
| Q1 25 | $3.59 | $-0.93 | ||
| Q4 24 | $3.64 | $1.09 | ||
| Q3 24 | $3.53 | $5.25 | ||
| Q2 24 | $3.50 | $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 | $7.9B | $785.0M |
| 总债务越低越好 | $19.0B | $15.8B |
| 股东权益账面价值 | $6.7B | $5.1B |
| 总资产 | $52.4B | $41.5B |
| 负债/权益比越低杠杆越低 | 2.82× | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资MAVST
| Q1 26 | $7.9B | — | ||
| Q4 25 | $10.6B | $785.0M | ||
| Q3 25 | $10.3B | $602.0M | ||
| Q2 25 | $9.0B | $458.0M | ||
| Q1 25 | $7.6B | $561.0M | ||
| Q4 24 | $8.4B | $1.2B | ||
| Q3 24 | $11.1B | $905.0M | ||
| Q2 24 | $7.0B | $1.6B |
总债务MAVST
| Q1 26 | $19.0B | — | ||
| Q4 25 | — | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.9B |
股东权益MAVST
| Q1 26 | $6.7B | — | ||
| Q4 25 | $7.7B | $5.1B | ||
| Q3 25 | $7.9B | $5.2B | ||
| Q2 25 | $7.9B | $4.8B | ||
| Q1 25 | $6.7B | $4.8B | ||
| Q4 24 | $6.5B | $5.6B | ||
| Q3 24 | $7.4B | $5.4B | ||
| Q2 24 | $7.4B | $5.6B |
总资产MAVST
| Q1 26 | $52.4B | — | ||
| Q4 25 | $54.2B | $41.5B | ||
| Q3 25 | $53.3B | $38.0B | ||
| Q2 25 | $51.4B | $38.1B | ||
| Q1 25 | $48.5B | $38.2B | ||
| Q4 24 | $48.1B | $37.8B | ||
| Q3 24 | $47.2B | $37.9B | ||
| Q2 24 | $42.3B | $39.1B |
负债/权益比MAVST
| Q1 26 | 2.82× | — | ||
| Q4 25 | — | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | — | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 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 | $3.0B | $1.4B |
| 自由现金流经营现金流 - 资本支出 | — | $596.0M |
| 自由现金流率自由现金流/营收 | — | 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 | 0.77× | 6.15× |
| 过去12个月自由现金流最近4个季度 | — | $1.3B |
8季度趋势，按日历期对齐
经营现金流MAVST
| Q1 26 | $3.0B | — | ||
| Q4 25 | $5.0B | $1.4B | ||
| Q3 25 | $5.7B | $1.5B | ||
| Q2 25 | $4.6B | $572.0M | ||
| Q1 25 | $2.4B | $599.0M | ||
| Q4 24 | $4.8B | $1.4B | ||
| Q3 24 | $5.1B | $1.7B | ||
| Q2 24 | $3.1B | $1.2B |
自由现金流MAVST
| Q1 26 | — | — | ||
| Q4 25 | $4.9B | $596.0M | ||
| Q3 25 | $5.5B | $1.0B | ||
| Q2 25 | $4.6B | $-118.0M | ||
| Q1 25 | $2.2B | $-169.0M | ||
| Q4 24 | $4.7B | $923.0M | ||
| Q3 24 | $5.0B | $1.0B | ||
| Q2 24 | $3.0B | $698.0M |
自由现金流率MAVST
| Q1 26 | — | — | ||
| Q4 25 | 55.5% | 12.4% | ||
| Q3 25 | 63.8% | 21.1% | ||
| Q2 25 | 56.1% | -3.1% | ||
| Q1 25 | 30.6% | -4.0% | ||
| Q4 24 | 63.3% | 25.2% | ||
| Q3 24 | 68.2% | 23.4% | ||
| Q2 24 | 43.4% | 19.4% |
资本支出强度MAVST
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 17.4% | ||
| Q3 25 | 2.1% | 9.6% | ||
| Q2 25 | 0.5% | 18.4% | ||
| Q1 25 | 2.2% | 18.1% | ||
| Q4 24 | 1.3% | 11.7% | ||
| Q3 24 | 1.5% | 15.8% | ||
| Q2 24 | 1.7% | 13.8% |
现金转化率MAVST
| Q1 26 | 0.77× | — | ||
| Q4 25 | 1.23× | 6.15× | ||
| Q3 25 | 1.44× | 2.25× | ||
| Q2 25 | 1.24× | 1.75× | ||
| Q1 25 | 0.73× | — | ||
| Q4 24 | 1.45× | 3.07× | ||
| Q3 24 | 1.57× | 0.90× | ||
| Q2 24 | 0.96× | 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
MA
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% |
