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MYR GROUP INC.（MYRG）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MYR GROUP INC.的1.2倍（$1.1B vs $973.5M），MYR GROUP INC.净利率更高（3.8% vs 1.6%，领先2.2%），MYR GROUP INC.同比增速更快（17.3% vs 3.0%），MYR GROUP INC.自由现金流更多（$84.9M vs $-192.7M），过去两年MYR GROUP INC.的营收复合增速更高（9.3% vs 8.9%）
MYR集团是美国知名电气建设服务提供商，业务覆盖输配电线路、变电站、工商业建筑及可再生能源领域的电气施工，旗下拥有12家电气建设子公司，在北美电力基建赛道拥有深厚的技术积累与项目交付能力。
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。
MYRG vs PNW — 直观对比
营收规模更大
PNW
是对方的1.2倍
$973.5M
营收增速更快
MYRG
高出14.3%
3.0%
净利率更高
MYRG
高出2.2%
1.6%
自由现金流更多
MYRG
多$277.7M
$-192.7M
两年增速更快
MYRG
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $973.5M | $1.1B |
| 净利润 | $36.5M | $17.6M |
| 毛利率 | 11.4% | — |
| 营业利润率 | 4.8% | 10.7% |
| 净利率 | 3.8% | 1.6% |
| 营收同比 | 17.3% | 3.0% |
| 净利润同比 | 129.1% | 798.0% |
| 每股收益（稀释后） | $2.33 | $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MYRGPNW
| Q4 25 | $973.5M | $1.1B | ||
| Q3 25 | $950.4M | $1.8B | ||
| Q2 25 | $900.3M | $1.4B | ||
| Q1 25 | $833.6M | $1.0B | ||
| Q4 24 | $829.8M | $1.1B | ||
| Q3 24 | $888.0M | $1.8B | ||
| Q2 24 | $828.9M | $1.3B | ||
| Q1 24 | $815.6M | $951.7M |
净利润MYRGPNW
| Q4 25 | $36.5M | $17.6M | ||
| Q3 25 | $32.1M | $417.5M | ||
| Q2 25 | $26.5M | $196.9M | ||
| Q1 25 | $23.3M | $-338.0K | ||
| Q4 24 | $16.0M | $-2.5M | ||
| Q3 24 | $10.6M | $399.3M | ||
| Q2 24 | $-15.3M | $208.1M | ||
| Q1 24 | $18.9M | $21.2M |
毛利率MYRGPNW
| Q4 25 | 11.4% | — | ||
| Q3 25 | 11.8% | — | ||
| Q2 25 | 11.5% | — | ||
| Q1 25 | 11.6% | — | ||
| Q4 24 | 10.4% | — | ||
| Q3 24 | 8.7% | — | ||
| Q2 24 | 4.9% | — | ||
| Q1 24 | 10.6% | — |
营业利润率MYRGPNW
| Q4 25 | 4.8% | 10.7% | ||
| Q3 25 | 4.9% | 32.0% | ||
| Q2 25 | 4.4% | 22.6% | ||
| Q1 25 | 4.1% | 5.5% | ||
| Q4 24 | 3.6% | 7.7% | ||
| Q3 24 | 2.3% | 30.9% | ||
| Q2 24 | -2.5% | 24.0% | ||
| Q1 24 | 3.0% | 7.0% |
净利率MYRGPNW
| Q4 25 | 3.8% | 1.6% | ||
| Q3 25 | 3.4% | 22.9% | ||
| Q2 25 | 2.9% | 14.5% | ||
| Q1 25 | 2.8% | -0.0% | ||
| Q4 24 | 1.9% | -0.2% | ||
| Q3 24 | 1.2% | 22.6% | ||
| Q2 24 | -1.8% | 15.9% | ||
| Q1 24 | 2.3% | 2.2% |
每股收益（稀释后）MYRGPNW
| Q4 25 | $2.33 | $0.12 | ||
| Q3 25 | $2.05 | $3.39 | ||
| Q2 25 | $1.70 | $1.58 | ||
| Q1 25 | $1.45 | $-0.04 | ||
| Q4 24 | $0.97 | $-0.04 | ||
| Q3 24 | $0.65 | $3.37 | ||
| Q2 24 | $-0.91 | $1.76 | ||
| Q1 24 | $1.12 | $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 | $150.2M | $6.6M |
| 总债务越低越好 | $59.0M | — |
| 股东权益账面价值 | $660.4M | $7.0B |
| 总资产 | $1.6B | $30.0B |
| 负债/权益比越低杠杆越低 | 0.09× | — |
8季度趋势，按日历期对齐
现金及短期投资MYRGPNW
| Q4 25 | $150.2M | $6.6M | ||
| Q3 25 | $76.2M | $30.9M | ||
| Q2 25 | $23.0M | $18.8M | ||
| Q1 25 | $10.9M | $10.0M | ||
| Q4 24 | $3.5M | $3.8M | ||
| Q3 24 | $7.6M | $49.2M | ||
| Q2 24 | $1.9M | $4.0M | ||
| Q1 24 | $3.9M | $9.6M |
总债务MYRGPNW
| Q4 25 | $59.0M | — | ||
| Q3 25 | $72.0M | — | ||
| Q2 25 | $86.1M | — | ||
| Q1 25 | $87.2M | — | ||
| Q4 24 | $74.4M | — | ||
| Q3 24 | $93.2M | — | ||
| Q2 24 | $45.1M | — | ||
| Q1 24 | $37.9M | — |
股东权益MYRGPNW
| Q4 25 | $660.4M | $7.0B | ||
| Q3 25 | $617.6M | $7.2B | ||
| Q2 25 | $583.2M | $6.7B | ||
| Q1 25 | $548.7M | $6.7B | ||
| Q4 24 | $600.4M | $6.8B | ||
| Q3 24 | $588.5M | $6.6B | ||
| Q2 24 | $633.3M | $6.2B | ||
| Q1 24 | $663.7M | $6.2B |
总资产MYRGPNW
| Q4 25 | $1.6B | $30.0B | ||
| Q3 25 | $1.6B | $29.9B | ||
| Q2 25 | $1.6B | $29.2B | ||
| Q1 25 | $1.5B | $27.2B | ||
| Q4 24 | $1.6B | $26.1B | ||
| Q3 24 | $1.6B | $26.3B | ||
| Q2 24 | $1.6B | $25.7B | ||
| Q1 24 | $1.6B | $24.8B |
负债/权益比MYRGPNW
| Q4 25 | 0.09× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.15× | — | ||
| Q1 25 | 0.16× | — | ||
| Q4 24 | 0.12× | — | ||
| Q3 24 | 0.16× | — | ||
| Q2 24 | 0.07× | — | ||
| Q1 24 | 0.06× | — |
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 | $114.8M | $476.8M |
| 自由现金流经营现金流 - 资本支出 | $84.9M | $-192.7M |
| 自由现金流率自由现金流/营收 | 8.7% | -17.1% |
| 资本支出强度资本支出/营收 | 3.1% | 59.3% |
| 现金转化率经营现金流/净利润 | 3.14× | 27.09× |
| 过去12个月自由现金流最近4个季度 | $232.2M | $-819.5M |
8季度趋势，按日历期对齐
经营现金流MYRGPNW
| Q4 25 | $114.8M | $476.8M | ||
| Q3 25 | $95.6M | $665.0M | ||
| Q2 25 | $32.9M | $261.4M | ||
| Q1 25 | $83.3M | $401.9M | ||
| Q4 24 | $21.1M | $439.5M | ||
| Q3 24 | $35.6M | $633.2M | ||
| Q2 24 | $22.7M | $189.8M | ||
| Q1 24 | $7.7M | $347.4M |
自由现金流MYRGPNW
| Q4 25 | $84.9M | $-192.7M | ||
| Q3 25 | $65.4M | $42.0M | ||
| Q2 25 | $11.6M | $-448.1M | ||
| Q1 25 | $70.2M | $-220.7M | ||
| Q4 24 | $8.8M | $-92.1M | ||
| Q3 24 | $18.0M | $-32.7M | ||
| Q2 24 | $2.5M | $-344.2M | ||
| Q1 24 | $-18.1M | $-170.4M |
自由现金流率MYRGPNW
| Q4 25 | 8.7% | -17.1% | ||
| Q3 25 | 6.9% | 2.3% | ||
| Q2 25 | 1.3% | -33.0% | ||
| Q1 25 | 8.4% | -21.4% | ||
| Q4 24 | 1.1% | -8.4% | ||
| Q3 24 | 2.0% | -1.8% | ||
| Q2 24 | 0.3% | -26.3% | ||
| Q1 24 | -2.2% | -17.9% |
资本支出强度MYRGPNW
| Q4 25 | 3.1% | 59.3% | ||
| Q3 25 | 3.2% | 34.2% | ||
| Q2 25 | 2.4% | 52.2% | ||
| Q1 25 | 1.6% | 60.3% | ||
| Q4 24 | 1.5% | 48.5% | ||
| Q3 24 | 2.0% | 37.6% | ||
| Q2 24 | 2.4% | 40.8% | ||
| Q1 24 | 3.2% | 54.4% |
现金转化率MYRGPNW
| Q4 25 | 3.14× | 27.09× | ||
| Q3 25 | 2.98× | 1.59× | ||
| Q2 25 | 1.24× | 1.33× | ||
| Q1 25 | 3.57× | — | ||
| Q4 24 | 1.32× | — | ||
| Q3 24 | 3.35× | 1.59× | ||
| Q2 24 | — | 0.91× | ||
| Q1 24 | 0.41× | 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
MYRG
| Market Type Electrical Construction | $442.6M | 45% |
| Market Type Transmission | $330.3M | 34% |
| Market Type Distribution | $200.6M | 21% |
PNW
| Electricand Transmission Service | $1.1B | 100% |
| Other Services | $4.4M | 0% |
