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OGE ENERGY CORP.（OGE）与Southern Company（SO）财务数据对比。点击上方公司名可切换其他公司
Southern Company的季度营收约是OGE ENERGY CORP.的10.0倍（$7.0B vs $701.7M）。OGE ENERGY CORP.净利率更高（9.9% vs 4.9%，领先5.0%）。Southern Company同比增速更快（10.1% vs -5.8%）。OGE ENERGY CORP.自由现金流更多（$83.1M vs $-1.7B）。过去两年OGE ENERGY CORP.的营收复合增速更高（9.7% vs 2.5%）
OGE能源集团是一家受监管的公用电力企业，核心子公司俄克拉荷马燃气电力公司为俄克拉荷马州及阿肯色州超84.3万用户提供服务，覆盖俄克拉荷马城大都会区150万居民，总部设于俄克拉荷马城市中心。集团原旗下天然气管道业务Enogex于2013年与CenterPoint Energy的中游业务合并组建为Enable Midstream。
Southern Company是美国燃气电力公用事业控股企业，总部位于佐治亚州亚特兰大，在阿拉巴马州伯明翰设有行政办公室。截至2021年按用户规模计为美国第二大公用事业公司，旗下子公司覆盖6个州，为900万燃气及电力用户提供服务，供电区域达12万平方英里。
OGE vs SO — 直观对比
营收规模更大
SO
是对方的10.0倍
$701.7M
营收增速更快
SO
高出15.9%
-5.8%
净利率更高
OGE
高出5.0%
4.9%
自由现金流更多
OGE
多$1.8B
$-1.7B
两年增速更快
OGE
近两年复合增速
2.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $701.7M | $7.0B |
| 净利润 | $69.2M | $341.0M |
| 毛利率 | 59.2% | — |
| 营业利润率 | 19.7% | 13.1% |
| 净利率 | 9.9% | 4.9% |
| 营收同比 | -5.8% | 10.1% |
| 净利润同比 | -32.1% | -26.8% |
| 每股收益（稀释后） | $0.34 | $0.38 |
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OGESO
| Q4 25 | $701.7M | $7.0B | ||
| Q3 25 | $1.0B | $7.8B | ||
| Q2 25 | $719.7M | $7.0B | ||
| Q1 25 | $741.1M | $7.8B | ||
| Q4 24 | $744.7M | $6.3B | ||
| Q3 24 | $945.2M | $7.3B | ||
| Q2 24 | $644.1M | $6.5B | ||
| Q1 24 | $582.6M | $6.6B |
净利润OGESO
| Q4 25 | $69.2M | $341.0M | ||
| Q3 25 | $231.3M | $1.7B | ||
| Q2 25 | $107.5M | $880.0M | ||
| Q1 25 | $62.7M | $1.3B | ||
| Q4 24 | $101.9M | $466.0M | ||
| Q3 24 | $218.7M | $1.5B | ||
| Q2 24 | $102.3M | $1.2B | ||
| Q1 24 | $18.6M | $1.1B |
毛利率OGESO
| Q4 25 | 59.2% | — | ||
| Q3 25 | 62.2% | — | ||
| Q2 25 | 63.7% | — | ||
| Q1 25 | 56.3% | — | ||
| Q4 24 | 59.7% | — | ||
| Q3 24 | 63.0% | — | ||
| Q2 24 | 69.9% | — | ||
| Q1 24 | 60.1% | — |
营业利润率OGESO
| Q4 25 | 19.7% | 13.1% | ||
| Q3 25 | 33.2% | 33.2% | ||
| Q2 25 | 25.9% | 25.3% | ||
| Q1 25 | 18.0% | 25.9% | ||
| Q4 24 | 24.5% | 16.7% | ||
| Q3 24 | 33.1% | 32.6% | ||
| Q2 24 | 27.3% | 30.0% | ||
| Q1 24 | 12.7% | 25.6% |
净利率OGESO
| Q4 25 | 9.9% | 4.9% | ||
| Q3 25 | 22.5% | 21.9% | ||
| Q2 25 | 14.9% | 12.6% | ||
| Q1 25 | 8.5% | 16.3% | ||
| Q4 24 | 13.7% | 7.3% | ||
| Q3 24 | 23.1% | 21.1% | ||
| Q2 24 | 15.9% | 18.6% | ||
| Q1 24 | 3.2% | 16.1% |
每股收益（稀释后）OGESO
| Q4 25 | $0.34 | $0.38 | ||
| Q3 25 | $1.14 | $1.54 | ||
| Q2 25 | $0.53 | $0.79 | ||
| Q1 25 | $0.31 | $1.21 | ||
| Q4 24 | $0.50 | $0.48 | ||
| Q3 24 | $1.09 | $1.39 | ||
| Q2 24 | $0.51 | $1.09 | ||
| Q1 24 | $0.09 | $1.03 |
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 | $200.0K | $1.6B |
| 总债务越低越好 | $5.4B | $65.6B |
| 股东权益账面价值 | $5.0B | $36.0B |
| 总资产 | $14.4B | $155.7B |
| 负债/权益比越低杠杆越低 | 1.08× | 1.82× |
8季度趋势，按日历期对齐
现金及短期投资OGESO
| Q4 25 | $200.0K | $1.6B | ||
| Q3 25 | $300.0K | $3.3B | ||
| Q2 25 | $500.0K | $1.3B | ||
| Q1 25 | $26.9M | $2.3B | ||
| Q4 24 | $600.0K | $1.1B | ||
| Q3 24 | $9.9M | $1.0B | ||
| Q2 24 | $100.0K | $1.2B | ||
| Q1 24 | $4.3M | $713.0M |
总债务OGESO
| Q4 25 | $5.4B | $65.6B | ||
| Q3 25 | — | $64.6B | ||
| Q2 25 | — | $63.0B | ||
| Q1 25 | — | $62.9B | ||
| Q4 24 | $5.1B | $58.8B | ||
| Q3 24 | — | $61.3B | ||
| Q2 24 | — | $59.9B | ||
| Q1 24 | — | $59.4B |
股东权益OGESO
| Q4 25 | $5.0B | $36.0B | ||
| Q3 25 | $4.8B | $38.3B | ||
| Q2 25 | $4.6B | $37.3B | ||
| Q1 25 | $4.6B | $37.2B | ||
| Q4 24 | $4.6B | $33.2B | ||
| Q3 24 | $4.6B | $36.9B | ||
| Q2 24 | $4.5B | $36.1B | ||
| Q1 24 | $4.4B | $35.6B |
总资产OGESO
| Q4 25 | $14.4B | $155.7B | ||
| Q3 25 | $14.3B | $153.2B | ||
| Q2 25 | $14.1B | $148.9B | ||
| Q1 25 | $14.0B | $148.1B | ||
| Q4 24 | $13.7B | $145.2B | ||
| Q3 24 | $13.5B | $144.0B | ||
| Q2 24 | $13.2B | $141.9B | ||
| Q1 24 | $12.9B | $140.1B |
负债/权益比OGESO
| Q4 25 | 1.08× | 1.82× | ||
| Q3 25 | — | 1.69× | ||
| Q2 25 | — | 1.69× | ||
| Q1 25 | — | 1.69× | ||
| Q4 24 | 1.09× | 1.77× | ||
| Q3 24 | — | 1.66× | ||
| Q2 24 | — | 1.66× | ||
| Q1 24 | — | 1.67× |
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 | $384.8M | $2.6B |
| 自由现金流经营现金流 - 资本支出 | $83.1M | $-1.7B |
| 自由现金流率自由现金流/营收 | 11.8% | -24.2% |
| 资本支出强度资本支出/营收 | 43.0% | 61.4% |
| 现金转化率经营现金流/净利润 | 5.56× | 7.62× |
| 过去12个月自由现金流最近4个季度 | $82.7M | $-2.9B |
8季度趋势，按日历期对齐
经营现金流OGESO
| Q4 25 | $384.8M | $2.6B | ||
| Q3 25 | $397.8M | $3.8B | ||
| Q2 25 | $338.6M | $2.2B | ||
| Q1 25 | $15.9M | $1.3B | ||
| Q4 24 | $129.6M | $2.2B | ||
| Q3 24 | $347.1M | $3.6B | ||
| Q2 24 | $253.1M | $2.7B | ||
| Q1 24 | $83.0M | $1.3B |
自由现金流OGESO
| Q4 25 | $83.1M | $-1.7B | ||
| Q3 25 | $168.3M | $559.0M | ||
| Q2 25 | $64.9M | $-619.0M | ||
| Q1 25 | $-233.6M | $-1.2B | ||
| Q4 24 | $-167.0M | $-576.0M | ||
| Q3 24 | $103.0M | $1.3B | ||
| Q2 24 | $-70.2M | $563.0M | ||
| Q1 24 | $-143.9M | $-459.0M |
自由现金流率OGESO
| Q4 25 | 11.8% | -24.2% | ||
| Q3 25 | 16.4% | 7.1% | ||
| Q2 25 | 9.0% | -8.9% | ||
| Q1 25 | -31.5% | -15.3% | ||
| Q4 24 | -22.4% | -9.1% | ||
| Q3 24 | 10.9% | 17.9% | ||
| Q2 24 | -10.9% | 8.7% | ||
| Q1 24 | -24.7% | -6.9% |
资本支出强度OGESO
| Q4 25 | 43.0% | 61.4% | ||
| Q3 25 | 22.3% | 41.1% | ||
| Q2 25 | 38.0% | 40.2% | ||
| Q1 25 | 33.7% | 31.3% | ||
| Q4 24 | 39.8% | 43.4% | ||
| Q3 24 | 25.8% | 31.8% | ||
| Q2 24 | 50.2% | 32.9% | ||
| Q1 24 | 38.9% | 26.6% |
现金转化率OGESO
| Q4 25 | 5.56× | 7.62× | ||
| Q3 25 | 1.72× | 2.21× | ||
| Q2 25 | 3.15× | 2.48× | ||
| Q1 25 | 0.25× | 0.98× | ||
| Q4 24 | 1.27× | 4.66× | ||
| Q3 24 | 1.59× | 2.36× | ||
| Q2 24 | 2.47× | 2.23× | ||
| Q1 24 | 4.46× | 1.22× |
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
OGE
| Residential | $238.0M | 34% |
| Commercial | $216.6M | 31% |
| Public Authority | $60.7M | 9% |
| Industrial | $59.6M | 8% |
| Oilfield | $56.6M | 8% |
| Transmission | $38.7M | 6% |
| Integrated Market | $20.4M | 3% |
| Other Contractswith Customers | $11.1M | 2% |
SO
| Other | $3.9B | 57% |
| Retail Electric Commercial | $1.6B | 23% |
| Natural Gas Distribution Residential | $689.0M | 10% |
| Natural Gas Distribution Transportation | $371.0M | 5% |
| Wholesale Non Affiliates | $123.0M | 2% |
| Natural Gas Distribution Other | $76.0M | 1% |
| Wholesale Electric Non PPA Revenues | $62.0M | 1% |
| Wholesale Affiliates | $55.0M | 1% |
| Retail Electric Other | $31.0M | 0% |
| Alternative Energy | $20.0M | 0% |
| Natural Gas Distribution Industrial | $15.0M | 0% |
