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Northwest Natural Holding Co（NWN）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是Northwest Natural Holding Co的11.3倍（$4.4B vs $394.2M）。标普全球同比增速更快（191.7% vs 6.3%）。Northwest Natural Holding Co自由现金流更多（$-131.0M vs $-1.5B）。过去两年标普全球的营收复合增速更高（77.3% vs -4.6%）
西北天然气控股公司是美国上市公用事业企业，总部位于俄勒冈州波特兰，成立于1859年。核心业务为天然气配送，服务俄勒冈州西部、华盛顿州西南部的居民、商业及工业客户，同时运营水务业务，目前服务约80万用户，年营收超10亿美元。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
NWN vs VG — 直观对比
营收规模更大
VG
是对方的11.3倍
$394.2M
营收增速更快
VG
高出185.4%
6.3%
自由现金流更多
NWN
多$1.4B
$-1.5B
两年增速更快
VG
近两年复合增速
-4.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $394.2M | $4.4B |
| 净利润 | — | $1.2B |
| 毛利率 | — | — |
| 营业利润率 | 28.4% | 38.7% |
| 净利率 | — | 26.8% |
| 营收同比 | 6.3% | 191.7% |
| 净利润同比 | — | 20.3% |
| 每股收益（稀释后） | $1.38 | $0.41 |
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NWNVG
| Q4 25 | $394.2M | $4.4B | ||
| Q3 25 | $164.7M | $3.3B | ||
| Q2 25 | $236.2M | $3.1B | ||
| Q1 25 | $494.3M | $2.9B | ||
| Q4 24 | $370.9M | $1.5B | ||
| Q3 24 | $136.9M | $926.0M | ||
| Q2 24 | $211.7M | $1.1B | ||
| Q1 24 | $433.5M | $1.4B |
净利润NWNVG
| Q4 25 | — | $1.2B | ||
| Q3 25 | $-29.9M | $550.0M | ||
| Q2 25 | $-2.5M | $475.0M | ||
| Q1 25 | $87.9M | $517.0M | ||
| Q4 24 | — | $990.0M | ||
| Q3 24 | $-27.2M | $-294.0M | ||
| Q2 24 | $-2.8M | $352.0M | ||
| Q1 24 | $63.8M | $698.0M |
营业利润率NWNVG
| Q4 25 | 28.4% | 38.7% | ||
| Q3 25 | -7.5% | 39.7% | ||
| Q2 25 | 11.5% | 33.5% | ||
| Q1 25 | 31.2% | 37.3% | ||
| Q4 24 | 22.9% | 39.0% | ||
| Q3 24 | -14.1% | 20.4% | ||
| Q2 24 | 7.4% | 32.8% | ||
| Q1 24 | 25.3% | 43.6% |
净利率NWNVG
| Q4 25 | — | 26.8% | ||
| Q3 25 | -18.1% | 16.5% | ||
| Q2 25 | -1.1% | 15.3% | ||
| Q1 25 | 17.8% | 17.9% | ||
| Q4 24 | — | 65.0% | ||
| Q3 24 | -19.8% | -31.7% | ||
| Q2 24 | -1.3% | 31.8% | ||
| Q1 24 | 14.7% | 49.4% |
每股收益（稀释后）NWNVG
| Q4 25 | $1.38 | $0.41 | ||
| Q3 25 | $-0.73 | $0.16 | ||
| Q2 25 | $-0.06 | $0.14 | ||
| Q1 25 | $2.18 | $0.15 | ||
| Q4 24 | $1.12 | $0.35 | ||
| Q3 24 | $-0.71 | $-0.15 | ||
| Q2 24 | $-0.07 | $0.12 | ||
| Q1 24 | $1.69 | $0.25 |
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 | $36.7M | $2.4B |
| 总债务越低越好 | $2.4B | $34.2B |
| 股东权益账面价值 | $1.5B | $6.7B |
| 总资产 | $6.2B | $53.4B |
| 负债/权益比越低杠杆越低 | 1.65× | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资NWNVG
| Q4 25 | $36.7M | $2.4B | ||
| Q3 25 | $32.2M | $1.9B | ||
| Q2 25 | $102.6M | $2.2B | ||
| Q1 25 | $100.0M | $3.6B | ||
| Q4 24 | $38.5M | $3.6B | ||
| Q3 24 | $35.0M | — | ||
| Q2 24 | $65.2M | — | ||
| Q1 24 | $72.4M | — |
总债务NWNVG
| Q4 25 | $2.4B | $34.2B | ||
| Q3 25 | $2.2B | $32.6B | ||
| Q2 25 | $2.2B | $30.0B | ||
| Q1 25 | $2.2B | $29.3B | ||
| Q4 24 | $1.7B | $29.3B | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.6B | — | ||
| Q1 24 | $1.6B | — |
股东权益NWNVG
| Q4 25 | $1.5B | $6.7B | ||
| Q3 25 | $1.4B | $5.7B | ||
| Q2 25 | $1.5B | $5.3B | ||
| Q1 25 | $1.5B | $4.9B | ||
| Q4 24 | $1.4B | $2.9B | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.3B | — |
总资产NWNVG
| Q4 25 | $6.2B | $53.4B | ||
| Q3 25 | $5.9B | $50.1B | ||
| Q2 25 | $5.8B | $46.5B | ||
| Q1 25 | $5.7B | $45.1B | ||
| Q4 24 | $5.2B | $43.5B | ||
| Q3 24 | $4.9B | — | ||
| Q2 24 | $4.8B | — | ||
| Q1 24 | $4.8B | — |
负债/权益比NWNVG
| Q4 25 | 1.65× | 5.07× | ||
| Q3 25 | 1.56× | 5.73× | ||
| Q2 25 | 1.53× | 5.69× | ||
| Q1 25 | 1.53× | 6.01× | ||
| Q4 24 | 1.23× | 10.11× | ||
| Q3 24 | 1.16× | — | ||
| Q2 24 | 1.17× | — | ||
| Q1 24 | 1.17× | — |
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 | $3.3M | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $-131.0M | $-1.5B |
| 自由现金流率自由现金流/营收 | -33.2% | -34.1% |
| 资本支出强度资本支出/营收 | 34.1% | 81.6% |
| 现金转化率经营现金流/净利润 | — | 1.77× |
| 过去12个月自由现金流最近4个季度 | $-197.8M | $-6.8B |
8季度趋势，按日历期对齐
经营现金流NWNVG
| Q4 25 | $3.3M | $2.1B | ||
| Q3 25 | $-15.9M | $1.9B | ||
| Q2 25 | $102.2M | $1.5B | ||
| Q1 25 | $179.6M | $1.1B | ||
| Q4 24 | $-19.4M | — | ||
| Q3 24 | $-26.4M | — | ||
| Q2 24 | $121.0M | — | ||
| Q1 24 | $125.0M | $638.0M |
自由现金流NWNVG
| Q4 25 | $-131.0M | $-1.5B | ||
| Q3 25 | $-125.9M | $-1.4B | ||
| Q2 25 | $-18.3M | $-1.5B | ||
| Q1 25 | $77.4M | $-2.4B | ||
| Q4 24 | $-119.6M | — | ||
| Q3 24 | $-121.7M | — | ||
| Q2 24 | $4.3M | — | ||
| Q1 24 | $42.8M | $-2.4B |
自由现金流率NWNVG
| Q4 25 | -33.2% | -34.1% | ||
| Q3 25 | -76.4% | -42.4% | ||
| Q2 25 | -7.8% | -49.1% | ||
| Q1 25 | 15.7% | -81.3% | ||
| Q4 24 | -32.2% | — | ||
| Q3 24 | -88.9% | — | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | 9.9% | -167.3% |
资本支出强度NWNVG
| Q4 25 | 34.1% | 81.6% | ||
| Q3 25 | 66.8% | 98.9% | ||
| Q2 25 | 51.0% | 96.1% | ||
| Q1 25 | 20.7% | 119.8% | ||
| Q4 24 | 27.0% | — | ||
| Q3 24 | 69.6% | — | ||
| Q2 24 | 55.1% | — | ||
| Q1 24 | 19.0% | 212.4% |
现金转化率NWNVG
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | 3.42× | ||
| Q2 25 | — | 3.07× | ||
| Q1 25 | 2.04× | 2.15× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.96× | 0.91× |
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
NWN
| NWN Gas Utility | $341.4M | 87% |
| Alternativerevenue | $27.2M | 7% |
| Si Energy Gas Utility | $20.0M | 5% |
| NW Natural Other | $6.9M | 2% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
