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大都会人寿（MET）与Pinnacle West Capital（PNW）财务数据对比。点击上方公司名可切换其他公司
Pinnacle West Capital的季度营收约是大都会人寿的1.9倍（$1.1B vs $600.0M），大都会人寿净利率更高（134.8% vs 1.6%，领先133.3%），大都会人寿同比增速更快（7.9% vs 3.0%），过去两年Pinnacle West Capital的营收复合增速更高（8.9% vs 2.0%）
大都会人寿（MetLife）是全球规模领先的保险、年金及员工福利服务提供商之一，创立于1868年，业务覆盖超60个国家和地区，服务约9000万客户，2018年位列《财富》美国500强营收排行榜第43位。
Pinnacle West Capital是美国公用事业控股企业，旗下拥有亚利桑那州规模最大的公用事业公司亚利桑那公共服务（APS）。公司于纽约证券交易所上市，是标普500指数成分股，运营受亚利桑那州公司委员会监管。
MET vs PNW — 直观对比
营收规模更大
PNW
是对方的1.9倍
$600.0M
营收增速更快
MET
高出4.9%
3.0%
净利率更高
MET
高出133.3%
1.6%
两年增速更快
PNW
近两年复合增速
2.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $600.0M | $1.1B |
| 净利润 | $809.0M | $17.6M |
| 毛利率 | — | — |
| 营业利润率 | — | 10.7% |
| 净利率 | 134.8% | 1.6% |
| 营收同比 | 7.9% | 3.0% |
| 净利润同比 | -36.3% | 798.0% |
| 每股收益（稀释后） | $1.18 | $0.12 |
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METPNW
| Q4 25 | $600.0M | $1.1B | ||
| Q3 25 | $621.0M | $1.8B | ||
| Q2 25 | $604.0M | $1.4B | ||
| Q1 25 | $611.0M | $1.0B | ||
| Q4 24 | $556.0M | $1.1B | ||
| Q3 24 | $554.0M | $1.8B | ||
| Q2 24 | $558.0M | $1.3B | ||
| Q1 24 | $577.0M | $951.7M |
净利润METPNW
| Q4 25 | $809.0M | $17.6M | ||
| Q3 25 | $896.0M | $417.5M | ||
| Q2 25 | $729.0M | $196.9M | ||
| Q1 25 | $945.0M | $-338.0K | ||
| Q4 24 | $1.3B | $-2.5M | ||
| Q3 24 | $1.3B | $399.3M | ||
| Q2 24 | $946.0M | $208.1M | ||
| Q1 24 | $867.0M | $21.2M |
营业利润率METPNW
| Q4 25 | — | 10.7% | ||
| Q3 25 | — | 32.0% | ||
| Q2 25 | — | 22.6% | ||
| Q1 25 | — | 5.5% | ||
| Q4 24 | — | 7.7% | ||
| Q3 24 | — | 30.9% | ||
| Q2 24 | — | 24.0% | ||
| Q1 24 | — | 7.0% |
净利率METPNW
| Q4 25 | 134.8% | 1.6% | ||
| Q3 25 | 144.3% | 22.9% | ||
| Q2 25 | 120.7% | 14.5% | ||
| Q1 25 | 154.7% | -0.0% | ||
| Q4 24 | 228.6% | -0.2% | ||
| Q3 24 | 242.2% | 22.6% | ||
| Q2 24 | 169.5% | 15.9% | ||
| Q1 24 | 150.3% | 2.2% |
每股收益（稀释后）METPNW
| Q4 25 | $1.18 | $0.12 | ||
| Q3 25 | $1.22 | $3.39 | ||
| Q2 25 | $1.03 | $1.58 | ||
| Q1 25 | $1.28 | $-0.04 | ||
| Q4 24 | $1.75 | $-0.04 | ||
| Q3 24 | $1.81 | $3.37 | ||
| Q2 24 | $1.28 | $1.76 | ||
| Q1 24 | $1.10 | $0.15 |
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 | $25.6B | $6.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $28.4B | $7.0B |
| 总资产 | $745.2B | $30.0B |
| 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METPNW
| Q4 25 | $25.6B | $6.6M | ||
| Q3 25 | $26.2B | $30.9M | ||
| Q2 25 | $27.5B | $18.8M | ||
| Q1 25 | $26.9B | $10.0M | ||
| Q4 24 | $25.2B | $3.8M | ||
| Q3 24 | $26.4B | $49.2M | ||
| Q2 24 | $24.6B | $4.0M | ||
| Q1 24 | $24.7B | $9.6M |
股东权益METPNW
| Q4 25 | $28.4B | $7.0B | ||
| Q3 25 | $28.9B | $7.2B | ||
| Q2 25 | $27.7B | $6.7B | ||
| Q1 25 | $27.5B | $6.7B | ||
| Q4 24 | $27.4B | $6.8B | ||
| Q3 24 | $30.9B | $6.6B | ||
| Q2 24 | $27.3B | $6.2B | ||
| Q1 24 | $28.5B | $6.2B |
总资产METPNW
| Q4 25 | $745.2B | $30.0B | ||
| Q3 25 | $719.7B | $29.9B | ||
| Q2 25 | $702.5B | $29.2B | ||
| Q1 25 | $688.3B | $27.2B | ||
| Q4 24 | $677.5B | $26.1B | ||
| Q3 24 | $705.0B | $26.3B | ||
| Q2 24 | $675.7B | $25.7B | ||
| Q1 24 | $677.6B | $24.8B |
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 | $7.1B | $476.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-192.7M |
| 自由现金流率自由现金流/营收 | — | -17.1% |
| 资本支出强度资本支出/营收 | — | 59.3% |
| 现金转化率经营现金流/净利润 | 8.75× | 27.09× |
| 过去12个月自由现金流最近4个季度 | — | $-819.5M |
8季度趋势，按日历期对齐
经营现金流METPNW
| Q4 25 | $7.1B | $476.8M | ||
| Q3 25 | $3.6B | $665.0M | ||
| Q2 25 | $2.2B | $261.4M | ||
| Q1 25 | $4.3B | $401.9M | ||
| Q4 24 | $4.6B | $439.5M | ||
| Q3 24 | $4.2B | $633.2M | ||
| Q2 24 | $3.5B | $189.8M | ||
| Q1 24 | $2.3B | $347.4M |
自由现金流METPNW
| Q4 25 | — | $-192.7M | ||
| Q3 25 | — | $42.0M | ||
| Q2 25 | — | $-448.1M | ||
| Q1 25 | — | $-220.7M | ||
| Q4 24 | — | $-92.1M | ||
| Q3 24 | — | $-32.7M | ||
| Q2 24 | — | $-344.2M | ||
| Q1 24 | — | $-170.4M |
自由现金流率METPNW
| Q4 25 | — | -17.1% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | -33.0% | ||
| Q1 25 | — | -21.4% | ||
| Q4 24 | — | -8.4% | ||
| Q3 24 | — | -1.8% | ||
| Q2 24 | — | -26.3% | ||
| Q1 24 | — | -17.9% |
资本支出强度METPNW
| Q4 25 | — | 59.3% | ||
| Q3 25 | — | 34.2% | ||
| Q2 25 | — | 52.2% | ||
| Q1 25 | — | 60.3% | ||
| Q4 24 | — | 48.5% | ||
| Q3 24 | — | 37.6% | ||
| Q2 24 | — | 40.8% | ||
| Q1 24 | — | 54.4% |
现金转化率METPNW
| Q4 25 | 8.75× | 27.09× | ||
| Q3 25 | 3.98× | 1.59× | ||
| Q2 25 | 3.00× | 1.33× | ||
| Q1 25 | 4.51× | — | ||
| Q4 24 | 3.63× | — | ||
| Q3 24 | 3.11× | 1.59× | ||
| Q2 24 | 3.69× | 0.91× | ||
| Q1 24 | 2.69× | 16.41× |
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
MET
| Other | $165.0M | 28% |
| Prepaidlegalplansandadministrativeonlycontracts | $158.0M | 26% |
| Vision Fee For Service Arrangements | $140.0M | 23% |
| Administrative Service | $76.0M | 13% |
| Distribution Service | $36.0M | 6% |
| Feebasedinvestmentmanagementservices | $25.0M | 4% |
PNW
| Electricand Transmission Service | $1.1B | 100% |
| Other Services | $4.4M | 0% |
