vs
NRG Energy（NRG）与联合太平洋（UNP）财务数据对比。点击上方公司名可切换其他公司
NRG Energy的季度营收约是联合太平洋的1.2倍（$7.7B vs $6.2B），联合太平洋净利率更高（27.4% vs 0.9%，领先26.5%），NRG Energy同比增速更快（13.6% vs 3.2%），联合太平洋自由现金流更多（$631.0M vs $-175.0M），过去两年NRG Energy的营收复合增速更高（2.0% vs 1.7%）
NRG Energy是总部位于美国得克萨斯州休斯敦的能源企业，前身为北方州电力公司（后发展为Xcel Energy）的批发业务板块，2000年独立运营。公司业务覆盖能源发电与电力零售，资产组合涵盖天然气、煤炭、石油、核能、风电、公用事业级发电及分布式太阳能发电等多个领域。
联合太平洋是美国一级货运铁路运营商，共运营8300台机车，线路总长超5.18万公里，覆盖芝加哥、新奥尔良以西的23个美国州，是全美规模仅次于BNSF的第二大铁路企业。
NRG vs UNP — 直观对比
营收规模更大
NRG
是对方的1.2倍
$6.2B
营收增速更快
NRG
高出10.5%
3.2%
净利率更高
UNP
高出26.5%
0.9%
自由现金流更多
UNP
多$806.0M
$-175.0M
两年增速更快
NRG
近两年复合增速
1.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $7.7B | $6.2B |
| 净利润 | $66.0M | $1.7B |
| 毛利率 | — | — |
| 营业利润率 | 3.9% | 39.5% |
| 净利率 | 0.9% | 27.4% |
| 营收同比 | 13.6% | 3.2% |
| 净利润同比 | -89.7% | 4.6% |
| 每股收益（稀释后） | $0.33 | $2.87 |
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NRGUNP
| Q1 26 | — | $6.2B | ||
| Q4 25 | $7.7B | $6.1B | ||
| Q3 25 | $7.5B | $6.2B | ||
| Q2 25 | $6.7B | $6.2B | ||
| Q1 25 | $8.5B | $6.0B | ||
| Q4 24 | $6.8B | $6.1B | ||
| Q3 24 | $7.1B | $6.1B | ||
| Q2 24 | $6.5B | $6.0B |
净利润NRGUNP
| Q1 26 | — | $1.7B | ||
| Q4 25 | $66.0M | $1.8B | ||
| Q3 25 | $152.0M | $1.8B | ||
| Q2 25 | $-104.0M | $1.9B | ||
| Q1 25 | $750.0M | $1.6B | ||
| Q4 24 | $643.0M | $1.8B | ||
| Q3 24 | $-767.0M | $1.7B | ||
| Q2 24 | $738.0M | $1.7B |
营业利润率NRGUNP
| Q1 26 | — | 39.5% | ||
| Q4 25 | 3.9% | 39.5% | ||
| Q3 25 | 5.5% | 40.8% | ||
| Q2 25 | — | 41.0% | ||
| Q1 25 | 13.4% | 39.3% | ||
| Q4 24 | 14.1% | 41.3% | ||
| Q3 24 | -11.4% | 39.7% | ||
| Q2 24 | 21.8% | 40.0% |
净利率NRGUNP
| Q1 26 | — | 27.4% | ||
| Q4 25 | 0.9% | 30.4% | ||
| Q3 25 | 2.0% | 28.6% | ||
| Q2 25 | -1.6% | 30.5% | ||
| Q1 25 | 8.8% | 27.0% | ||
| Q4 24 | 9.5% | 28.8% | ||
| Q3 24 | -10.8% | 27.4% | ||
| Q2 24 | 11.4% | 27.9% |
每股收益（稀释后）NRGUNP
| Q1 26 | — | $2.87 | ||
| Q4 25 | $0.33 | $3.12 | ||
| Q3 25 | $0.69 | $3.01 | ||
| Q2 25 | $-0.62 | $3.15 | ||
| Q1 25 | $3.61 | $2.70 | ||
| Q4 24 | $3.10 | $2.91 | ||
| Q3 24 | $-3.79 | $2.75 | ||
| Q2 24 | $3.37 | $2.74 |
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 | $4.7B | $735.0M |
| 总债务越低越好 | $16.4B | — |
| 股东权益账面价值 | $1.7B | — |
| 总资产 | $29.1B | $69.6B |
| 负债/权益比越低杠杆越低 | 9.76× | — |
8季度趋势，按日历期对齐
现金及短期投资NRGUNP
| Q1 26 | — | $735.0M | ||
| Q4 25 | $4.7B | $1.3B | ||
| Q3 25 | $732.0M | $808.0M | ||
| Q2 25 | $180.0M | $1.1B | ||
| Q1 25 | $693.0M | $1.4B | ||
| Q4 24 | $966.0M | $1.0B | ||
| Q3 24 | $1.1B | $947.0M | ||
| Q2 24 | $376.0M | $1.1B |
总债务NRGUNP
| Q1 26 | — | — | ||
| Q4 25 | $16.4B | $30.3B | ||
| Q3 25 | $11.2B | $30.3B | ||
| Q2 25 | $9.8B | $30.3B | ||
| Q1 25 | $9.8B | $30.6B | ||
| Q4 24 | $9.8B | $29.8B | ||
| Q3 24 | $10.4B | $29.8B | ||
| Q2 24 | $10.4B | $31.2B |
股东权益NRGUNP
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $18.5B | ||
| Q3 25 | $2.0B | $17.3B | ||
| Q2 25 | $2.3B | $16.3B | ||
| Q1 25 | $2.8B | $16.0B | ||
| Q4 24 | $2.5B | $16.9B | ||
| Q3 24 | $2.5B | $16.6B | ||
| Q2 24 | $3.6B | $16.5B |
总资产NRGUNP
| Q1 26 | — | $69.6B | ||
| Q4 25 | $29.1B | $69.7B | ||
| Q3 25 | $24.0B | $68.6B | ||
| Q2 25 | $24.1B | $68.6B | ||
| Q1 25 | $25.0B | $68.5B | ||
| Q4 24 | $24.0B | $67.7B | ||
| Q3 24 | $23.7B | $67.6B | ||
| Q2 24 | $25.8B | $67.8B |
负债/权益比NRGUNP
| Q1 26 | — | — | ||
| Q4 25 | 9.76× | 1.64× | ||
| Q3 25 | 5.66× | 1.75× | ||
| Q2 25 | 4.29× | 1.86× | ||
| Q1 25 | 3.53× | 1.91× | ||
| Q4 24 | 3.96× | 1.76× | ||
| Q3 24 | 4.14× | 1.79× | ||
| Q2 24 | 2.88× | 1.89× |
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 | $123.0M | — |
| 自由现金流经营现金流 - 资本支出 | $-175.0M | $631.0M |
| 自由现金流率自由现金流/营收 | -2.3% | 10.1% |
| 资本支出强度资本支出/营收 | 3.9% | — |
| 现金转化率经营现金流/净利润 | 1.86× | — |
| 过去12个月自由现金流最近4个季度 | $766.0M | $4.8B |
8季度趋势，按日历期对齐
经营现金流NRGUNP
| Q1 26 | — | — | ||
| Q4 25 | $123.0M | $2.2B | ||
| Q3 25 | $484.0M | $2.5B | ||
| Q2 25 | $451.0M | $2.3B | ||
| Q1 25 | $855.0M | $2.2B | ||
| Q4 24 | $952.0M | $2.7B | ||
| Q3 24 | $31.0M | $2.7B | ||
| Q2 24 | $1.1B | $1.9B |
自由现金流NRGUNP
| Q1 26 | — | $631.0M | ||
| Q4 25 | $-175.0M | $1.2B | ||
| Q3 25 | $230.0M | $1.6B | ||
| Q2 25 | $73.0M | $1.4B | ||
| Q1 25 | $638.0M | $1.3B | ||
| Q4 24 | $766.0M | $1.7B | ||
| Q3 24 | $-83.0M | $1.8B | ||
| Q2 24 | $953.0M | $1.0B |
自由现金流率NRGUNP
| Q1 26 | — | 10.1% | ||
| Q4 25 | -2.3% | 20.1% | ||
| Q3 25 | 3.1% | 25.2% | ||
| Q2 25 | 1.1% | 22.7% | ||
| Q1 25 | 7.5% | 21.6% | ||
| Q4 24 | 11.3% | 28.4% | ||
| Q3 24 | -1.2% | 29.9% | ||
| Q2 24 | 14.7% | 16.8% |
资本支出强度NRGUNP
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 16.4% | ||
| Q3 25 | 3.4% | 15.2% | ||
| Q2 25 | 5.7% | 15.2% | ||
| Q1 25 | 2.6% | 15.0% | ||
| Q4 24 | 2.8% | 15.1% | ||
| Q3 24 | 1.6% | 13.6% | ||
| Q2 24 | 1.6% | 15.0% |
现金转化率NRGUNP
| Q1 26 | — | — | ||
| Q4 25 | 1.86× | 1.20× | ||
| Q3 25 | 3.18× | 1.41× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | 1.14× | 1.36× | ||
| Q4 24 | 1.48× | 1.51× | ||
| Q3 24 | — | 1.59× | ||
| Q2 24 | 1.43× | 1.14× |
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
NRG
暂无分部数据
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
