vs
NiSource（NI）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
NiSource的季度营收约是瑞思迈的1.3倍（$1.9B vs $1.4B），瑞思迈净利率更高（27.6% vs 13.7%，领先13.9%），NiSource同比增速更快（22.5% vs 11.0%），过去两年瑞思迈的营收复合增速更高（7.8% vs 7.2%）
NiSource是美国规模最大的受全面监管公用事业企业之一，总部位于印第安纳州梅里尔维尔，员工规模超8000人。公司旗下拥有Columbia Gas、NIPSCO两大本土品牌，业务覆盖美国六个州，为约350万天然气用户、50万电力用户提供服务，2018年时是印第安纳州唯一的本土公用事业企业。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
NI vs RMD — 直观对比
营收规模更大
NI
是对方的1.3倍
$1.4B
营收增速更快
NI
高出11.6%
11.0%
净利率更高
RMD
高出13.9%
13.7%
两年增速更快
RMD
近两年复合增速
7.2%
损益表 — Q4 FY2025 vs Q4 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.4B |
| 净利润 | $257.8M | $392.6M |
| 毛利率 | — | 61.8% |
| 营业利润率 | 27.3% | 34.6% |
| 净利率 | 13.7% | 27.6% |
| 营收同比 | 22.5% | 11.0% |
| 净利润同比 | 15.1% | 13.9% |
| 每股收益（稀释后） | $0.53 | $2.68 |
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NIRMD
| Q2 26 | — | $1.4B | ||
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $1.5B | $1.3B | ||
| Q3 24 | $1.0B | $1.2B |
净利润NIRMD
| Q2 26 | — | $392.6M | ||
| Q1 26 | — | $398.7M | ||
| Q4 25 | $257.8M | $392.6M | ||
| Q3 25 | $94.7M | $348.5M | ||
| Q2 25 | $102.2M | $379.7M | ||
| Q1 25 | $474.8M | $365.0M | ||
| Q4 24 | $223.9M | $344.6M | ||
| Q3 24 | $85.7M | $311.4M |
毛利率NIRMD
| Q2 26 | — | 61.8% | ||
| Q1 26 | — | 62.2% | ||
| Q4 25 | — | 61.8% | ||
| Q3 25 | — | 61.5% | ||
| Q2 25 | — | 60.8% | ||
| Q1 25 | — | 59.3% | ||
| Q4 24 | — | 58.6% | ||
| Q3 24 | — | 58.6% |
营业利润率NIRMD
| Q2 26 | — | 34.6% | ||
| Q1 26 | — | 34.9% | ||
| Q4 25 | 27.3% | 34.6% | ||
| Q3 25 | 24.0% | 33.4% | ||
| Q2 25 | 21.1% | 33.7% | ||
| Q1 25 | 35.3% | 33.0% | ||
| Q4 24 | 27.1% | 32.5% | ||
| Q3 24 | 20.9% | 31.6% |
净利率NIRMD
| Q2 26 | — | 27.6% | ||
| Q1 26 | — | 27.9% | ||
| Q4 25 | 13.7% | 27.6% | ||
| Q3 25 | 7.6% | 26.1% | ||
| Q2 25 | 8.2% | 28.2% | ||
| Q1 25 | 22.1% | 28.3% | ||
| Q4 24 | 14.5% | 26.9% | ||
| Q3 24 | 8.2% | 25.4% |
每股收益（稀释后）NIRMD
| Q2 26 | — | $2.68 | ||
| Q1 26 | — | $2.74 | ||
| Q4 25 | $0.53 | $2.68 | ||
| Q3 25 | $0.20 | $2.37 | ||
| Q2 25 | $0.22 | $2.58 | ||
| Q1 25 | $1.00 | $2.48 | ||
| Q4 24 | $0.47 | $2.34 | ||
| Q3 24 | $0.19 | $2.11 |
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 | $110.1M | $1.4B |
| 总债务越低越好 | $15.5B | $663.8M |
| 股东权益账面价值 | $9.5B | $6.3B |
| 总资产 | $35.9B | $8.5B |
| 负债/权益比越低杠杆越低 | 1.64× | 0.11× |
8季度趋势，按日历期对齐
现金及短期投资NIRMD
| Q2 26 | — | $1.4B | ||
| Q1 26 | — | $1.7B | ||
| Q4 25 | $110.1M | $1.4B | ||
| Q3 25 | $95.0M | $1.4B | ||
| Q2 25 | $335.4M | $1.2B | ||
| Q1 25 | $259.4M | $932.7M | ||
| Q4 24 | $156.6M | $521.9M | ||
| Q3 24 | $126.2M | $426.4M |
总债务NIRMD
| Q2 26 | — | $663.8M | ||
| Q1 26 | — | $664.1M | ||
| Q4 25 | $15.5B | $403.9M | ||
| Q3 25 | $14.5B | $408.7M | ||
| Q2 25 | $14.5B | $658.4M | ||
| Q1 25 | $12.8B | $663.1M | ||
| Q4 24 | $12.1B | $662.9M | ||
| Q3 24 | $12.1B | $667.6M |
股东权益NIRMD
| Q2 26 | — | $6.3B | ||
| Q1 26 | — | $6.5B | ||
| Q4 25 | $9.5B | $6.3B | ||
| Q3 25 | $9.1B | $6.1B | ||
| Q2 25 | $8.9B | $6.0B | ||
| Q1 25 | $8.9B | $5.5B | ||
| Q4 24 | $8.7B | $5.3B | ||
| Q3 24 | $8.3B | $5.2B |
总资产NIRMD
| Q2 26 | — | $8.5B | ||
| Q1 26 | — | $8.8B | ||
| Q4 25 | $35.9B | $8.5B | ||
| Q3 25 | $34.4B | $8.3B | ||
| Q2 25 | $34.0B | $8.2B | ||
| Q1 25 | $33.1B | $7.6B | ||
| Q4 24 | $31.8B | $7.1B | ||
| Q3 24 | $30.8B | $7.2B |
负债/权益比NIRMD
| Q2 26 | — | 0.11× | ||
| Q1 26 | — | 0.10× | ||
| Q4 25 | 1.64× | 0.06× | ||
| Q3 25 | 1.59× | 0.07× | ||
| Q2 25 | 1.63× | 0.11× | ||
| Q1 25 | 1.44× | 0.12× | ||
| Q4 24 | 1.39× | 0.13× | ||
| Q3 24 | 1.45× | 0.13× |
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 | $712.6M | — |
| 自由现金流经营现金流 - 资本支出 | $-133.7M | — |
| 自由现金流率自由现金流/营收 | -7.1% | — |
| 资本支出强度资本支出/营收 | 44.9% | — |
| 现金转化率经营现金流/净利润 | 2.76× | — |
| 过去12个月自由现金流最近4个季度 | $-420.0M | — |
8季度趋势，按日历期对齐
经营现金流NIRMD
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $712.6M | $339.7M | ||
| Q3 25 | $467.9M | $457.3M | ||
| Q2 25 | $495.4M | $538.8M | ||
| Q1 25 | $686.4M | $578.7M | ||
| Q4 24 | $539.8M | $308.6M | ||
| Q3 24 | $340.0M | $325.5M |
自由现金流NIRMD
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $-133.7M | $311.2M | ||
| Q3 25 | $-172.6M | $414.4M | ||
| Q2 25 | $-162.8M | $508.2M | ||
| Q1 25 | $49.1M | $557.9M | ||
| Q4 24 | $-220.2M | $288.0M | ||
| Q3 24 | $-294.7M | $307.7M |
自由现金流率NIRMD
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | -7.1% | 21.9% | ||
| Q3 25 | -13.9% | 31.0% | ||
| Q2 25 | -13.1% | 37.7% | ||
| Q1 25 | 2.3% | 43.2% | ||
| Q4 24 | -14.3% | 22.5% | ||
| Q3 24 | -28.2% | 25.1% |
资本支出强度NIRMD
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 44.9% | 2.0% | ||
| Q3 25 | 51.6% | 3.2% | ||
| Q2 25 | 52.8% | 2.3% | ||
| Q1 25 | 29.6% | 1.6% | ||
| Q4 24 | 49.4% | 1.6% | ||
| Q3 24 | 60.7% | 1.5% |
现金转化率NIRMD
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 2.76× | 0.87× | ||
| Q3 25 | 4.94× | 1.31× | ||
| Q2 25 | 4.85× | 1.42× | ||
| Q1 25 | 1.45× | 1.59× | ||
| Q4 24 | 2.41× | 0.90× | ||
| Q3 24 | 3.97× | 1.05× |
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
NI
| Residential | $703.6M | 37% |
| Ni Source Electric Generation And Power Delivery | $525.6M | 28% |
| NIPSCO Gas Distribution | $348.1M | 18% |
| Commercial | $235.9M | 13% |
| Industrial | $45.9M | 2% |
| Offsystem | $16.9M | 1% |
| Misc. | $9.6M | 1% |
| Related Party | $3.3M | 0% |
RMD
暂无分部数据
