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NATIONAL FUEL GAS CO（NFG）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
NATIONAL FUEL GAS CO的季度营收约是世纪互联的1.8倍（$637.9M vs $362.7M），NATIONAL FUEL GAS CO净利率更高（28.5% vs -10.7%，领先39.1%），NATIONAL FUEL GAS CO自由现金流更多（$-2.7M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 6.9%）
该多元化能源企业成立于1902年，总部位于美国纽约州威廉斯维尔，总资产达62亿美元，下设勘探与生产、管道与存储、燃气集输、公用事业、能源营销五大运营板块，业务覆盖能源产业链上下游多个核心环节。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
NFG vs VNET — 直观对比
营收规模更大
NFG
是对方的1.8倍
$362.7M
净利率更高
NFG
高出39.1%
-10.7%
自由现金流更多
NFG
多$190.4M
$-193.1M
两年增速更快
VNET
近两年复合增速
6.9%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $637.9M | $362.7M |
| 净利润 | $181.6M | $-38.7M |
| 毛利率 | 86.6% | 20.9% |
| 营业利润率 | 43.3% | 0.5% |
| 净利率 | 28.5% | -10.7% |
| 营收同比 | 24.1% | — |
| 净利润同比 | 303.8% | — |
| 每股收益（稀释后） | $1.98 | — |
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NFGVNET
| Q4 25 | $637.9M | — | ||
| Q3 25 | $443.1M | $362.7M | ||
| Q2 25 | $527.4M | — | ||
| Q1 25 | $734.8M | $309.5M | ||
| Q4 24 | $513.8M | — | ||
| Q3 24 | $310.0M | $302.2M | ||
| Q2 24 | $338.6M | $274.4M | ||
| Q1 24 | $558.7M | $262.9M |
净利润NFGVNET
| Q4 25 | $181.6M | — | ||
| Q3 25 | $107.3M | $-38.7M | ||
| Q2 25 | $149.8M | — | ||
| Q1 25 | $216.4M | $-2.4M | ||
| Q4 24 | $45.0M | — | ||
| Q3 24 | $-167.6M | $-2.1M | ||
| Q2 24 | $-54.2M | $-1.1M | ||
| Q1 24 | $166.3M | $-22.0M |
毛利率NFGVNET
| Q4 25 | 86.6% | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | 94.7% | — | ||
| Q1 25 | 81.6% | 25.2% | ||
| Q4 24 | 87.3% | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | 98.5% | 21.3% | ||
| Q1 24 | 81.0% | 21.6% |
营业利润率NFGVNET
| Q4 25 | 43.3% | — | ||
| Q3 25 | 40.6% | 0.5% | ||
| Q2 25 | 43.7% | — | ||
| Q1 25 | 43.2% | 0.1% | ||
| Q4 24 | 16.8% | — | ||
| Q3 24 | -63.4% | 24.5% | ||
| Q2 24 | -15.2% | 0.2% | ||
| Q1 24 | 44.9% | 0.2% |
净利率NFGVNET
| Q4 25 | 28.5% | — | ||
| Q3 25 | 24.2% | -10.7% | ||
| Q2 25 | 28.4% | — | ||
| Q1 25 | 29.4% | -0.8% | ||
| Q4 24 | 8.8% | — | ||
| Q3 24 | -54.1% | -0.7% | ||
| Q2 24 | -16.0% | -0.4% | ||
| Q1 24 | 29.8% | -8.4% |
每股收益（稀释后）NFGVNET
| Q4 25 | $1.98 | — | ||
| Q3 25 | $1.18 | — | ||
| Q2 25 | $1.64 | — | ||
| Q1 25 | $2.37 | — | ||
| Q4 24 | $0.49 | — | ||
| Q3 24 | $-1.81 | — | ||
| Q2 24 | $-0.59 | — | ||
| Q1 24 | $1.80 | — |
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 | $271.4M | $492.1M |
| 总债务越低越好 | $2.7B | — |
| 股东权益账面价值 | $3.6B | $890.8M |
| 总资产 | $9.2B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.75× | — |
8季度趋势，按日历期对齐
现金及短期投资NFGVNET
| Q4 25 | $271.4M | — | ||
| Q3 25 | $43.2M | $492.1M | ||
| Q2 25 | $39.3M | — | ||
| Q1 25 | $40.0M | $544.3M | ||
| Q4 24 | $48.7M | — | ||
| Q3 24 | $38.2M | $219.5M | ||
| Q2 24 | $81.4M | $247.2M | ||
| Q1 24 | $50.8M | $246.9M |
总债务NFGVNET
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $2.7B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | $2.7B | $1.2B | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.4B | — |
股东权益NFGVNET
| Q4 25 | $3.6B | — | ||
| Q3 25 | $3.1B | $890.8M | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $2.8B | $927.8M | ||
| Q4 24 | $-76.2M | — | ||
| Q3 24 | $-15.5M | $902.9M | ||
| Q2 24 | $5.0M | $900.6M | ||
| Q1 24 | $75.3M | $895.1M |
总资产NFGVNET
| Q4 25 | $9.2B | — | ||
| Q3 25 | $8.7B | $6.1B | ||
| Q2 25 | $8.4B | — | ||
| Q1 25 | $8.5B | $5.4B | ||
| Q4 24 | $8.3B | — | ||
| Q3 24 | $8.3B | $4.3B | ||
| Q2 24 | $8.5B | $4.0B | ||
| Q1 24 | $8.7B | $3.9B |
负债/权益比NFGVNET
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.87× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | 0.99× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | 532.10× | — | ||
| Q1 24 | 31.68× | — |
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 | $274.9M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $-2.7M | $-193.1M |
| 自由现金流率自由现金流/营收 | -0.4% | -53.2% |
| 资本支出强度资本支出/营收 | 43.5% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.51× | — |
| 过去12个月自由现金流最近4个季度 | $204.8M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流NFGVNET
| Q4 25 | $274.9M | — | ||
| Q3 25 | $237.8M | $113.8M | ||
| Q2 25 | $388.4M | — | ||
| Q1 25 | $253.8M | $27.0M | ||
| Q4 24 | $220.1M | — | ||
| Q3 24 | $197.9M | $108.3M | ||
| Q2 24 | $281.8M | $55.8M | ||
| Q1 24 | $315.3M | $37.1M |
自由现金流NFGVNET
| Q4 25 | $-2.7M | — | ||
| Q3 25 | $-47.8M | $-193.1M | ||
| Q2 25 | $195.3M | — | ||
| Q1 25 | $59.9M | $-220.0M | ||
| Q4 24 | $-20.3M | — | ||
| Q3 24 | $-49.1M | $-95.0M | ||
| Q2 24 | $79.5M | $-81.6M | ||
| Q1 24 | $80.3M | $-102.2M |
自由现金流率NFGVNET
| Q4 25 | -0.4% | — | ||
| Q3 25 | -10.8% | -53.2% | ||
| Q2 25 | 37.0% | — | ||
| Q1 25 | 8.2% | -71.1% | ||
| Q4 24 | -4.0% | — | ||
| Q3 24 | -15.8% | -31.4% | ||
| Q2 24 | 23.5% | -29.8% | ||
| Q1 24 | 14.4% | -38.9% |
资本支出强度NFGVNET
| Q4 25 | 43.5% | — | ||
| Q3 25 | 64.4% | 84.6% | ||
| Q2 25 | 36.6% | — | ||
| Q1 25 | 26.4% | 79.8% | ||
| Q4 24 | 46.8% | — | ||
| Q3 24 | 79.7% | 67.3% | ||
| Q2 24 | 59.7% | 50.1% | ||
| Q1 24 | 42.1% | 53.0% |
现金转化率NFGVNET
| Q4 25 | 1.51× | — | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.59× | — | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 4.89× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.90× | — |
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
NFG
| Natural Gas Production | $302.5M | 47% |
| Natural Gas Residential Sales | $198.0M | 31% |
| Pipeline And Storage | $69.2M | 11% |
| Natural Gas Commercial Sales | $27.9M | 4% |
| Natural Gas Storage | $25.1M | 4% |
| Other | $4.1M | 1% |
| Natural Gas Midstream | $2.8M | 0% |
VNET
暂无分部数据
