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NorthWestern Energy Group, Inc.（NWE）与Via Renewables, Inc.（VIASP）财务数据对比。点击上方公司名可切换其他公司
NorthWestern Energy Group, Inc.的季度营收约是Via Renewables, Inc.的3.2倍（$414.3M vs $127.8M）。NorthWestern Energy Group, Inc.净利率更高（10.8% vs 5.4%，领先5.4%）。Via Renewables, Inc.同比增速更快（22.5% vs 10.9%）。Via Renewables, Inc.自由现金流更多（$-4.8M vs $-93.7M）。过去两年Via Renewables, Inc.的营收复合增速更高（5.9% vs -6.6%）
西北能源集团（NorthWestern Energy Group, Inc.）是一家总部位于苏福尔斯的公用事业企业，业务覆盖南达科他州、内布拉斯加州和蒙大拿州。截至2019年，公司服务客户约71.8万户，集团总部设在苏福尔斯，南达科他州的运营总部则位于该州休伦市。
EDF电力解决方案是法国电力集团旗下全资子公司，专注可再生能源发电业务。作为一体化运营商，该集团开展可再生能源项目开发与融资，推进设施建设，同时为自有及第三方的可再生能源项目提供运营与维护服务。
NWE vs VIASP — 直观对比
营收规模更大
NWE
是对方的3.2倍
$127.8M
营收增速更快
VIASP
高出11.6%
10.9%
净利率更高
NWE
高出5.4%
5.4%
自由现金流更多
VIASP
多$89.0M
$-93.7M
两年增速更快
VIASP
近两年复合增速
-6.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $414.3M | $127.8M |
| 净利润 | $44.7M | $6.9M |
| 毛利率 | — | 34.4% |
| 营业利润率 | 14.5% | 15.2% |
| 净利率 | 10.8% | 5.4% |
| 营收同比 | 10.9% | 22.5% |
| 净利润同比 | -44.5% | -30.9% |
| 每股收益（稀释后） | $0.72 | $1.19 |
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NWEVIASP
| Q4 25 | $414.3M | $127.8M | ||
| Q3 25 | $387.0M | $103.3M | ||
| Q2 25 | $342.7M | $90.0M | ||
| Q1 25 | $466.6M | $142.3M | ||
| Q4 24 | $373.5M | $104.3M | ||
| Q3 24 | $345.2M | $93.8M | ||
| Q2 24 | $319.9M | $86.7M | ||
| Q1 24 | $475.3M | $114.1M |
净利润NWEVIASP
| Q4 25 | $44.7M | $6.9M | ||
| Q3 25 | $38.2M | $757.0K | ||
| Q2 25 | $21.2M | $2.7M | ||
| Q1 25 | $76.9M | $8.8M | ||
| Q4 24 | $80.6M | $9.9M | ||
| Q3 24 | $46.8M | $2.1M | ||
| Q2 24 | $31.7M | $7.6M | ||
| Q1 24 | $65.1M | $8.6M |
毛利率NWEVIASP
| Q4 25 | — | 34.4% | ||
| Q3 25 | — | 23.1% | ||
| Q2 25 | — | 30.0% | ||
| Q1 25 | — | 32.9% | ||
| Q4 24 | — | 51.9% | ||
| Q3 24 | — | 26.8% | ||
| Q2 24 | — | 50.4% | ||
| Q1 24 | — | 39.5% |
营业利润率NWEVIASP
| Q4 25 | 14.5% | 15.2% | ||
| Q3 25 | 20.7% | 3.1% | ||
| Q2 25 | 17.7% | 6.7% | ||
| Q1 25 | 26.7% | 17.5% | ||
| Q4 24 | 24.6% | 31.5% | ||
| Q3 24 | 19.7% | 5.3% | ||
| Q2 24 | 19.3% | 23.8% | ||
| Q1 24 | 21.5% | 22.6% |
净利率NWEVIASP
| Q4 25 | 10.8% | 5.4% | ||
| Q3 25 | 9.9% | 0.7% | ||
| Q2 25 | 6.2% | 3.0% | ||
| Q1 25 | 16.5% | 6.2% | ||
| Q4 24 | 21.6% | 9.5% | ||
| Q3 24 | 13.6% | 2.3% | ||
| Q2 24 | 9.9% | 8.8% | ||
| Q1 24 | 13.7% | 7.5% |
每股收益（稀释后）NWEVIASP
| Q4 25 | $0.72 | $1.19 | ||
| Q3 25 | $0.62 | $-0.41 | ||
| Q2 25 | $0.35 | $0.09 | ||
| Q1 25 | $1.25 | $1.83 | ||
| Q4 24 | $1.31 | $2.33 | ||
| Q3 24 | $0.76 | $-0.17 | ||
| Q2 24 | $0.52 | $1.51 | ||
| Q1 24 | $1.06 | $1.81 |
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 | $8.8M | $41.8M |
| 总债务越低越好 | $3.3B | $120.0M |
| 股东权益账面价值 | $2.9B | $67.7M |
| 总资产 | $8.5B | $331.3M |
| 负债/权益比越低杠杆越低 | 1.14× | 1.77× |
8季度趋势，按日历期对齐
现金及短期投资NWEVIASP
| Q4 25 | $8.8M | $41.8M | ||
| Q3 25 | $6.2M | $53.6M | ||
| Q2 25 | $2.9M | $62.1M | ||
| Q1 25 | $56.0M | $64.7M | ||
| Q4 24 | $4.3M | $53.1M | ||
| Q3 24 | $2.5M | $66.6M | ||
| Q2 24 | $6.4M | $53.6M | ||
| Q1 24 | $4.2M | $50.4M |
总债务NWEVIASP
| Q4 25 | $3.3B | $120.0M | ||
| Q3 25 | — | $105.0M | ||
| Q2 25 | — | $100.0M | ||
| Q1 25 | — | $101.0M | ||
| Q4 24 | $3.0B | $106.0M | ||
| Q3 24 | — | $89.0M | ||
| Q2 24 | — | $93.0M | ||
| Q1 24 | — | $91.0M |
股东权益NWEVIASP
| Q4 25 | $2.9B | $67.7M | ||
| Q3 25 | $2.9B | $63.7M | ||
| Q2 25 | $2.9B | $68.2M | ||
| Q1 25 | $2.9B | $72.7M | ||
| Q4 24 | $2.9B | $66.7M | ||
| Q3 24 | $2.8B | $58.2M | ||
| Q2 24 | $2.8B | $58.3M | ||
| Q1 24 | $2.8B | $53.2M |
总资产NWEVIASP
| Q4 25 | $8.5B | $331.3M | ||
| Q3 25 | $8.3B | $304.8M | ||
| Q2 25 | $8.1B | $316.3M | ||
| Q1 25 | $8.1B | $347.4M | ||
| Q4 24 | $8.0B | $344.9M | ||
| Q3 24 | $7.9B | $298.4M | ||
| Q2 24 | $7.7B | $299.7M | ||
| Q1 24 | $7.6B | $302.7M |
负债/权益比NWEVIASP
| Q4 25 | 1.14× | 1.77× | ||
| Q3 25 | — | 1.65× | ||
| Q2 25 | — | 1.47× | ||
| Q1 25 | — | 1.39× | ||
| Q4 24 | 1.05× | 1.59× | ||
| Q3 24 | — | 1.53× | ||
| Q2 24 | — | 1.60× | ||
| Q1 24 | — | 1.71× |
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 | $56.2M | $-4.2M |
| 自由现金流经营现金流 - 资本支出 | $-93.7M | $-4.8M |
| 自由现金流率自由现金流/营收 | -22.6% | -3.7% |
| 资本支出强度资本支出/营收 | 36.2% | 0.4% |
| 现金转化率经营现金流/净利润 | 1.26× | -0.61× |
| 过去12个月自由现金流最近4个季度 | $-130.0M | $39.1M |
8季度趋势，按日历期对齐
经营现金流NWEVIASP
| Q4 25 | $56.2M | $-4.2M | ||
| Q3 25 | $126.7M | $2.4M | ||
| Q2 25 | $58.2M | $19.0M | ||
| Q1 25 | $153.4M | $24.9M | ||
| Q4 24 | $62.8M | $2.0M | ||
| Q3 24 | $120.0M | $20.1M | ||
| Q2 24 | $62.3M | $11.2M | ||
| Q1 24 | $161.7M | $17.1M |
自由现金流NWEVIASP
| Q4 25 | $-93.7M | $-4.8M | ||
| Q3 25 | $-26.9M | $1.9M | ||
| Q2 25 | $-70.6M | $18.4M | ||
| Q1 25 | $61.3M | $23.5M | ||
| Q4 24 | $-85.9M | $1.6M | ||
| Q3 24 | $-33.2M | $19.7M | ||
| Q2 24 | $-76.3M | $10.9M | ||
| Q1 24 | $52.9M | $16.6M |
自由现金流率NWEVIASP
| Q4 25 | -22.6% | -3.7% | ||
| Q3 25 | -6.9% | 1.9% | ||
| Q2 25 | -20.6% | 20.5% | ||
| Q1 25 | 13.1% | 16.5% | ||
| Q4 24 | -23.0% | 1.5% | ||
| Q3 24 | -9.6% | 21.0% | ||
| Q2 24 | -23.9% | 12.6% | ||
| Q1 24 | 11.1% | 14.6% |
资本支出强度NWEVIASP
| Q4 25 | 36.2% | 0.4% | ||
| Q3 25 | 39.7% | 0.4% | ||
| Q2 25 | 37.6% | 0.6% | ||
| Q1 25 | 19.7% | 1.0% | ||
| Q4 24 | 39.8% | 0.4% | ||
| Q3 24 | 44.4% | 0.4% | ||
| Q2 24 | 43.3% | 0.3% | ||
| Q1 24 | 22.9% | 0.4% |
现金转化率NWEVIASP
| Q4 25 | 1.26× | -0.61× | ||
| Q3 25 | 3.31× | 3.12× | ||
| Q2 25 | 2.74× | 6.94× | ||
| Q1 25 | 1.99× | 2.84× | ||
| Q4 24 | 0.78× | 0.20× | ||
| Q3 24 | 2.56× | 9.41× | ||
| Q2 24 | 1.97× | 1.47× | ||
| Q1 24 | 2.48× | 2.00× |
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
NWE
| Electricity Us Regulated | $315.3M | 76% |
| Other Tariff Based Revenue | $50.5M | 12% |
| Transmission Customers | $28.4M | 7% |
| Industrial Customers | $11.0M | 3% |
| Other Customers | $6.1M | 1% |
VIASP
| Retail Electricity | $79.7M | 62% |
| Retail Natural Gas | $48.9M | 38% |
