vs
Realty Income（O）与PPL Corporation（PPL）财务数据对比。点击上方公司名可切换其他公司
PPL Corporation的季度营收约是Realty Income的1.6倍（$2.3B vs $1.5B），Realty Income净利率更高（19.9% vs 11.3%，领先8.6%），Realty Income同比增速更快（11.0% vs 7.2%），Realty Income自由现金流更多（$1.2B vs $-614.0M），过去两年Realty Income的营收复合增速更高（8.6% vs 1.0%）
Realty Income是一家房地产投资信托企业，投资范围覆盖美国、英国及欧洲其他六个国家的独立单租户商业地产，旗下物业普遍采用三重净租约模式。公司注册地为美国马里兰州，总部位于加利福尼亚州圣迭戈市。
PPL公司是总部位于美国宾夕法尼亚州的能源公用事业控股企业，为宾州、肯塔基州、罗德岛州约350万居民及工商业用户提供电力与天然气供应服务，核心业务方向包括电网现代化升级、清洁能源转型、高可靠性可持续能源服务供给。
O vs PPL — 直观对比
营收规模更大
PPL
是对方的1.6倍
$1.5B
营收增速更快
O
高出3.8%
7.2%
净利率更高
O
高出8.6%
11.3%
自由现金流更多
O
多$1.8B
$-614.0M
两年增速更快
O
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $2.3B |
| 净利润 | $296.1M | $266.0M |
| 毛利率 | — | — |
| 营业利润率 | 21.7% | 20.3% |
| 净利率 | 19.9% | 11.3% |
| 营收同比 | 11.0% | 7.2% |
| 净利润同比 | 48.3% | 50.3% |
| 每股收益（稀释后） | $0.32 | $0.35 |
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OPPL
| Q4 25 | $1.5B | $2.3B | ||
| Q3 25 | $1.5B | $2.2B | ||
| Q2 25 | $1.4B | $2.0B | ||
| Q1 25 | $1.4B | $2.5B | ||
| Q4 24 | $1.3B | $2.2B | ||
| Q3 24 | $1.3B | $2.1B | ||
| Q2 24 | $1.3B | $1.9B | ||
| Q1 24 | $1.3B | $2.3B |
净利润OPPL
| Q4 25 | $296.1M | $266.0M | ||
| Q3 25 | $315.8M | $318.0M | ||
| Q2 25 | $196.9M | $183.0M | ||
| Q1 25 | $249.8M | $414.0M | ||
| Q4 24 | $199.6M | $177.0M | ||
| Q3 24 | $269.5M | $214.0M | ||
| Q2 24 | $259.4M | $190.0M | ||
| Q1 24 | $132.3M | $307.0M |
营业利润率OPPL
| Q4 25 | 21.7% | 20.3% | ||
| Q3 25 | 23.2% | 25.4% | ||
| Q2 25 | 15.8% | 19.9% | ||
| Q1 25 | 19.3% | 26.6% | ||
| Q4 24 | 16.5% | 17.2% | ||
| Q3 24 | 21.5% | 20.6% | ||
| Q2 24 | 20.7% | 20.8% | ||
| Q1 24 | 11.9% | 23.7% |
净利率OPPL
| Q4 25 | 19.9% | 11.3% | ||
| Q3 25 | 21.5% | 14.2% | ||
| Q2 25 | 14.0% | 9.0% | ||
| Q1 25 | 18.1% | 16.3% | ||
| Q4 24 | 14.9% | 8.1% | ||
| Q3 24 | 20.2% | 10.3% | ||
| Q2 24 | 19.4% | 10.1% | ||
| Q1 24 | 10.5% | 13.3% |
每股收益（稀释后）OPPL
| Q4 25 | $0.32 | $0.35 | ||
| Q3 25 | $0.35 | $0.43 | ||
| Q2 25 | $0.22 | $0.25 | ||
| Q1 25 | $0.28 | $0.56 | ||
| Q4 24 | $0.23 | $0.23 | ||
| Q3 24 | $0.30 | $0.29 | ||
| Q2 24 | $0.29 | $0.26 | ||
| Q1 24 | $0.16 | $0.42 |
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 | $434.8M | $1.1B |
| 总债务越低越好 | — | $18.9B |
| 股东权益账面价值 | $39.4B | $14.9B |
| 总资产 | $72.8B | $45.2B |
| 负债/权益比越低杠杆越低 | — | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资OPPL
| Q4 25 | $434.8M | $1.1B | ||
| Q3 25 | $417.2M | $1.1B | ||
| Q2 25 | $800.4M | $294.0M | ||
| Q1 25 | $319.0M | $312.0M | ||
| Q4 24 | $445.0M | $306.0M | ||
| Q3 24 | $397.0M | $542.0M | ||
| Q2 24 | $442.8M | $282.0M | ||
| Q1 24 | $680.2M | $276.0M |
总债务OPPL
| Q4 25 | — | $18.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $16.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益OPPL
| Q4 25 | $39.4B | $14.9B | ||
| Q3 25 | $39.1B | $14.4B | ||
| Q2 25 | $39.2B | $14.3B | ||
| Q1 25 | $39.0B | $14.3B | ||
| Q4 24 | $38.8B | $14.1B | ||
| Q3 24 | $38.5B | $14.1B | ||
| Q2 24 | $38.6B | $14.1B | ||
| Q1 24 | $39.0B | $14.1B |
总资产OPPL
| Q4 25 | $72.8B | $45.2B | ||
| Q3 25 | $71.3B | $43.9B | ||
| Q2 25 | $71.4B | $42.4B | ||
| Q1 25 | $69.8B | $41.8B | ||
| Q4 24 | $68.8B | $41.1B | ||
| Q3 24 | $68.5B | $40.5B | ||
| Q2 24 | $68.1B | $39.8B | ||
| Q1 24 | $68.3B | $39.6B |
负债/权益比OPPL
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.17× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $1.2B | $548.0M |
| 自由现金流经营现金流 - 资本支出 | $1.2B | $-614.0M |
| 自由现金流率自由现金流/营收 | 77.6% | -26.1% |
| 资本支出强度资本支出/营收 | 3.3% | 49.5% |
| 现金转化率经营现金流/净利润 | 4.06× | 2.06× |
| 过去12个月自由现金流最近4个季度 | $3.9B | $-1.4B |
8季度趋势，按日历期对齐
经营现金流OPPL
| Q4 25 | $1.2B | $548.0M | ||
| Q3 25 | $943.1M | $966.0M | ||
| Q2 25 | $1.1B | $602.0M | ||
| Q1 25 | $787.5M | $513.0M | ||
| Q4 24 | $972.0M | $511.0M | ||
| Q3 24 | $841.5M | $781.0M | ||
| Q2 24 | $981.2M | $766.0M | ||
| Q1 24 | $778.7M | $282.0M |
自由现金流OPPL
| Q4 25 | $1.2B | $-614.0M | ||
| Q3 25 | $909.9M | $-179.0M | ||
| Q2 25 | $1.0B | $-328.0M | ||
| Q1 25 | $764.6M | $-280.0M | ||
| Q4 24 | $935.8M | $-349.0M | ||
| Q3 24 | $807.9M | $102.0M | ||
| Q2 24 | $939.2M | $96.0M | ||
| Q1 24 | $769.0M | $-314.0M |
自由现金流率OPPL
| Q4 25 | 77.6% | -26.1% | ||
| Q3 25 | 61.9% | -8.0% | ||
| Q2 25 | 73.3% | -16.1% | ||
| Q1 25 | 55.4% | -11.0% | ||
| Q4 24 | 69.8% | -15.9% | ||
| Q3 24 | 60.7% | 4.9% | ||
| Q2 24 | 70.1% | 5.1% | ||
| Q1 24 | 61.0% | -13.6% |
资本支出强度OPPL
| Q4 25 | 3.3% | 49.5% | ||
| Q3 25 | 2.3% | 51.2% | ||
| Q2 25 | 1.9% | 45.6% | ||
| Q1 25 | 1.7% | 31.2% | ||
| Q4 24 | 2.7% | 39.3% | ||
| Q3 24 | 2.5% | 32.7% | ||
| Q2 24 | 3.1% | 35.8% | ||
| Q1 24 | 0.8% | 25.9% |
现金转化率OPPL
| Q4 25 | 4.06× | 2.06× | ||
| Q3 25 | 2.99× | 3.04× | ||
| Q2 25 | 5.39× | 3.29× | ||
| Q1 25 | 3.15× | 1.24× | ||
| Q4 24 | 4.87× | 2.89× | ||
| Q3 24 | 3.12× | 3.65× | ||
| Q2 24 | 3.78× | 4.03× | ||
| Q1 24 | 5.89× | 0.92× |
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
O
| Product And Service Retail | $900.8M | 61% |
| Other | $531.5M | 36% |
PPL
| Rhode Island Regulated | $539.0M | 23% |
| Other | $532.0M | 23% |
| Residential | $451.0M | 19% |
| Nonrelated Party | $425.0M | 18% |
| Transmission | $228.0M | 10% |
| Commercial | $117.0M | 5% |
| Wholesale Other | $23.0M | 1% |
| Industrial | $14.0M | 1% |
| Related Party | $13.0M | 1% |
| Wholesale Municipal | $6.0M | 0% |
