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NiSource（NI）与RENAISSANCERE HOLDINGS LTD（RNR）财务数据对比。点击上方公司名可切换其他公司
RENAISSANCERE HOLDINGS LTD的季度营收约是NiSource的1.2倍（$2.2B vs $1.9B），RENAISSANCERE HOLDINGS LTD净利率更高（23.5% vs 13.7%，领先9.8%），NiSource同比增速更快（22.5% vs -36.8%），过去两年NiSource的营收复合增速更高（7.2% vs -11.9%）
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。
RenaissanceRe Holdings Ltd是总部位于百慕大的保险及相关商业服务提供商，核心业务覆盖再保险、常规保险两大板块，同时运营风险相关创新投资业务，为全球客户提供专业的风险对冲与保险解决方案。
NI vs RNR — 直观对比
营收规模更大
RNR
是对方的1.2倍
$1.9B
营收增速更快
NI
高出59.3%
-36.8%
净利率更高
RNR
高出9.8%
13.7%
两年增速更快
NI
近两年复合增速
-11.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.2B |
| 净利润 | $257.8M | $515.8M |
| 毛利率 | — | — |
| 营业利润率 | 27.3% | — |
| 净利率 | 13.7% | 23.5% |
| 营收同比 | 22.5% | -36.8% |
| 净利润同比 | 15.1% | 72.6% |
| 每股收益（稀释后） | $0.53 | $6.57 |
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NIRNR
| Q1 26 | — | $2.2B | ||
| Q4 25 | $1.9B | $3.0B | ||
| Q3 25 | $1.2B | $3.2B | ||
| Q2 25 | $1.2B | $3.2B | ||
| Q1 25 | $2.1B | $3.5B | ||
| Q4 24 | $1.5B | $2.3B | ||
| Q3 24 | $1.0B | $4.0B | ||
| Q2 24 | $1.1B | $2.8B |
净利润NIRNR
| Q1 26 | — | $515.8M | ||
| Q4 25 | $257.8M | $760.5M | ||
| Q3 25 | $94.7M | $916.5M | ||
| Q2 25 | $102.2M | $835.4M | ||
| Q1 25 | $474.8M | $170.0M | ||
| Q4 24 | $223.9M | $-189.7M | ||
| Q3 24 | $85.7M | $1.2B | ||
| Q2 24 | $85.8M | $503.9M |
营业利润率NIRNR
| Q1 26 | — | — | ||
| Q4 25 | 27.3% | 42.5% | ||
| Q3 25 | 24.0% | 46.3% | ||
| Q2 25 | 21.1% | 41.8% | ||
| Q1 25 | 35.3% | -2.0% | ||
| Q4 24 | 27.1% | -3.6% | ||
| Q3 24 | 20.9% | 43.7% | ||
| Q2 24 | 22.5% | 25.0% |
净利率NIRNR
| Q1 26 | — | 23.5% | ||
| Q4 25 | 13.7% | 25.6% | ||
| Q3 25 | 7.6% | 28.7% | ||
| Q2 25 | 8.2% | 26.1% | ||
| Q1 25 | 22.1% | 4.9% | ||
| Q4 24 | 14.5% | -8.3% | ||
| Q3 24 | 8.2% | 29.8% | ||
| Q2 24 | 8.1% | 17.8% |
每股收益（稀释后）NIRNR
| Q1 26 | — | $6.57 | ||
| Q4 25 | $0.53 | $16.16 | ||
| Q3 25 | $0.20 | $19.40 | ||
| Q2 25 | $0.22 | $17.20 | ||
| Q1 25 | $1.00 | $3.27 | ||
| Q4 24 | $0.47 | $-3.76 | ||
| Q3 24 | $0.19 | $22.62 | ||
| Q2 24 | $0.19 | $9.41 |
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 | $1.6B |
| 总债务越低越好 | $15.5B | — |
| 股东权益账面价值 | $9.5B | $4.3B |
| 总资产 | $35.9B | $53.7B |
| 负债/权益比越低杠杆越低 | 1.64× | — |
8季度趋势，按日历期对齐
现金及短期投资NIRNR
| Q1 26 | — | $1.6B | ||
| Q4 25 | $110.1M | $1.7B | ||
| Q3 25 | $95.0M | $1.7B | ||
| Q2 25 | $335.4M | $1.4B | ||
| Q1 25 | $259.4M | $1.6B | ||
| Q4 24 | $156.6M | $1.7B | ||
| Q3 24 | $126.2M | $1.6B | ||
| Q2 24 | $101.2M | $1.6B |
总债务NIRNR
| Q1 26 | — | — | ||
| Q4 25 | $15.5B | $2.3B | ||
| Q3 25 | $14.5B | $2.2B | ||
| Q2 25 | $14.5B | $2.3B | ||
| Q1 25 | $12.8B | $2.8B | ||
| Q4 24 | $12.1B | $1.9B | ||
| Q3 24 | $12.1B | $1.9B | ||
| Q2 24 | $12.8B | $2.0B |
股东权益NIRNR
| Q1 26 | — | $4.3B | ||
| Q4 25 | $9.5B | $11.6B | ||
| Q3 25 | $9.1B | $11.5B | ||
| Q2 25 | $8.9B | $10.8B | ||
| Q1 25 | $8.9B | $10.3B | ||
| Q4 24 | $8.7B | $10.6B | ||
| Q3 24 | $8.3B | $11.2B | ||
| Q2 24 | $7.9B | $10.2B |
总资产NIRNR
| Q1 26 | — | $53.7B | ||
| Q4 25 | $35.9B | $53.8B | ||
| Q3 25 | $34.4B | $54.5B | ||
| Q2 25 | $34.0B | $54.7B | ||
| Q1 25 | $33.1B | $53.6B | ||
| Q4 24 | $31.8B | $50.7B | ||
| Q3 24 | $30.8B | $52.8B | ||
| Q2 24 | $29.9B | $51.6B |
负债/权益比NIRNR
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 0.20× | ||
| Q3 25 | 1.59× | 0.19× | ||
| Q2 25 | 1.63× | 0.21× | ||
| Q1 25 | 1.44× | 0.27× | ||
| Q4 24 | 1.39× | 0.18× | ||
| Q3 24 | 1.45× | 0.17× | ||
| Q2 24 | 1.63× | 0.19× |
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NIRNR
| Q1 26 | — | — | ||
| Q4 25 | $712.6M | $483.0M | ||
| Q3 25 | $467.9M | $1.6B | ||
| Q2 25 | $495.4M | $1.5B | ||
| Q1 25 | $686.4M | $157.8M | ||
| Q4 24 | $539.8M | $778.9M | ||
| Q3 24 | $340.0M | $1.5B | ||
| Q2 24 | $445.5M | $1.2B |
自由现金流NIRNR
| Q1 26 | — | — | ||
| Q4 25 | $-133.7M | — | ||
| Q3 25 | $-172.6M | — | ||
| Q2 25 | $-162.8M | — | ||
| Q1 25 | $49.1M | — | ||
| Q4 24 | $-220.2M | — | ||
| Q3 24 | $-294.7M | — | ||
| Q2 24 | $-184.3M | — |
自由现金流率NIRNR
| Q1 26 | — | — | ||
| Q4 25 | -7.1% | — | ||
| Q3 25 | -13.9% | — | ||
| Q2 25 | -13.1% | — | ||
| Q1 25 | 2.3% | — | ||
| Q4 24 | -14.3% | — | ||
| Q3 24 | -28.2% | — | ||
| Q2 24 | -17.5% | — |
资本支出强度NIRNR
| Q1 26 | — | — | ||
| Q4 25 | 44.9% | — | ||
| Q3 25 | 51.6% | — | ||
| Q2 25 | 52.8% | — | ||
| Q1 25 | 29.6% | — | ||
| Q4 24 | 49.4% | — | ||
| Q3 24 | 60.7% | — | ||
| Q2 24 | 59.7% | — |
现金转化率NIRNR
| Q1 26 | — | — | ||
| Q4 25 | 2.76× | 0.64× | ||
| Q3 25 | 4.94× | 1.73× | ||
| Q2 25 | 4.85× | 1.76× | ||
| Q1 25 | 1.45× | 0.93× | ||
| Q4 24 | 2.41× | — | ||
| Q3 24 | 3.97× | 1.26× | ||
| Q2 24 | 5.19× | 2.41× |
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
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% |
RNR
暂无分部数据
