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OGE ENERGY CORP.（OGE）与TXNM ENERGY INC（TXNM）财务数据对比。点击上方公司名可切换其他公司
OGE ENERGY CORP.的季度营收约是TXNM ENERGY INC的1.4倍（$701.7M vs $506.4M），OGE ENERGY CORP.净利率更高（9.9% vs -1.0%，领先10.9%），TXNM ENERGY INC同比增速更快（5.3% vs -5.8%），OGE ENERGY CORP.自由现金流更多（$83.1M vs $-152.1M），过去两年OGE ENERGY CORP.的营收复合增速更高（9.7% vs 8.4%）
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。
TXNM能源是总部位于美国新墨西哥州阿尔伯克基的能源控股企业，创立于1917年，前身为阿尔伯克基燃气电力公司，旗下拥有PNM、得克萨斯-新墨西哥电力公司（TNMP）两大运营主体，核心业务覆盖能源供应及相关公用事业服务领域。
OGE vs TXNM — 直观对比
营收规模更大
OGE
是对方的1.4倍
$506.4M
营收增速更快
TXNM
高出11.1%
-5.8%
净利率更高
OGE
高出10.9%
-1.0%
自由现金流更多
OGE
多$235.2M
$-152.1M
两年增速更快
OGE
近两年复合增速
8.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $701.7M | $506.4M |
| 净利润 | $69.2M | $-5.3M |
| 毛利率 | 59.2% | — |
| 营业利润率 | 19.7% | 18.5% |
| 净利率 | 9.9% | -1.0% |
| 营收同比 | -5.8% | 5.3% |
| 净利润同比 | -32.1% | -126.4% |
| 每股收益（稀释后） | $0.34 | $-0.06 |
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OGETXNM
| Q4 25 | $701.7M | $506.4M | ||
| Q3 25 | $1.0B | $656.3M | ||
| Q2 25 | $719.7M | $493.8M | ||
| Q1 25 | $741.1M | $480.4M | ||
| Q4 24 | $744.7M | $481.0M | ||
| Q3 24 | $945.2M | $574.3M | ||
| Q2 24 | $644.1M | $473.2M | ||
| Q1 24 | $582.6M | $431.1M |
净利润OGETXNM
| Q4 25 | $69.2M | $-5.3M | ||
| Q3 25 | $231.3M | $136.3M | ||
| Q2 25 | $107.5M | $26.0M | ||
| Q1 25 | $62.7M | $12.8M | ||
| Q4 24 | $101.9M | $20.0M | ||
| Q3 24 | $218.7M | $136.4M | ||
| Q2 24 | $102.3M | $52.0M | ||
| Q1 24 | $18.6M | $50.4M |
毛利率OGETXNM
| Q4 25 | 59.2% | — | ||
| Q3 25 | 62.2% | — | ||
| Q2 25 | 63.7% | — | ||
| Q1 25 | 56.3% | — | ||
| Q4 24 | 59.7% | — | ||
| Q3 24 | 63.0% | 51.8% | ||
| Q2 24 | 69.9% | 41.9% | ||
| Q1 24 | 60.1% | 40.8% |
营业利润率OGETXNM
| Q4 25 | 19.7% | 18.5% | ||
| Q3 25 | 33.2% | 30.9% | ||
| Q2 25 | 25.9% | 14.7% | ||
| Q1 25 | 18.0% | 15.0% | ||
| Q4 24 | 24.5% | 15.8% | ||
| Q3 24 | 33.1% | 33.3% | ||
| Q2 24 | 27.3% | 22.3% | ||
| Q1 24 | 12.7% | 18.7% |
净利率OGETXNM
| Q4 25 | 9.9% | -1.0% | ||
| Q3 25 | 22.5% | 20.8% | ||
| Q2 25 | 14.9% | 5.3% | ||
| Q1 25 | 8.5% | 2.7% | ||
| Q4 24 | 13.7% | 4.2% | ||
| Q3 24 | 23.1% | 23.7% | ||
| Q2 24 | 15.9% | 11.0% | ||
| Q1 24 | 3.2% | 11.7% |
每股收益（稀释后）OGETXNM
| Q4 25 | $0.34 | $-0.06 | ||
| Q3 25 | $1.14 | $1.22 | ||
| Q2 25 | $0.53 | $0.22 | ||
| Q1 25 | $0.31 | $0.10 | ||
| Q4 24 | $0.50 | $0.17 | ||
| Q3 24 | $1.09 | $1.45 | ||
| Q2 24 | $0.51 | $0.53 | ||
| Q1 24 | $0.09 | $0.52 |
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 | $18.3M |
| 总债务越低越好 | $5.4B | — |
| 股东权益账面价值 | $5.0B | $3.4B |
| 总资产 | $14.4B | $12.1B |
| 负债/权益比越低杠杆越低 | 1.08× | — |
8季度趋势，按日历期对齐
现金及短期投资OGETXNM
| Q4 25 | $200.0K | $18.3M | ||
| Q3 25 | $300.0K | $32.1M | ||
| Q2 25 | $500.0K | $22.2M | ||
| Q1 25 | $26.9M | $6.1M | ||
| Q4 24 | $600.0K | $4.5M | ||
| Q3 24 | $9.9M | $7.2M | ||
| Q2 24 | $100.0K | $3.2M | ||
| Q1 24 | $4.3M | $3.0M |
总债务OGETXNM
| Q4 25 | $5.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益OGETXNM
| Q4 25 | $5.0B | $3.4B | ||
| Q3 25 | $4.8B | $3.4B | ||
| Q2 25 | $4.6B | $3.2B | ||
| Q1 25 | $4.6B | $2.5B | ||
| Q4 24 | $4.6B | $2.5B | ||
| Q3 24 | $4.6B | $2.5B | ||
| Q2 24 | $4.5B | $2.4B | ||
| Q1 24 | $4.4B | $2.4B |
总资产OGETXNM
| Q4 25 | $14.4B | $12.1B | ||
| Q3 25 | $14.3B | $12.0B | ||
| Q2 25 | $14.1B | $11.7B | ||
| Q1 25 | $14.0B | $11.4B | ||
| Q4 24 | $13.7B | $11.2B | ||
| Q3 24 | $13.5B | $10.8B | ||
| Q2 24 | $13.2B | $10.6B | ||
| Q1 24 | $12.9B | $10.3B |
负债/权益比OGETXNM
| Q4 25 | 1.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.09× | — | ||
| 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 | $384.8M | $157.7M |
| 自由现金流经营现金流 - 资本支出 | $83.1M | $-152.1M |
| 自由现金流率自由现金流/营收 | 11.8% | -30.0% |
| 资本支出强度资本支出/营收 | 43.0% | 61.2% |
| 现金转化率经营现金流/净利润 | 5.56× | — |
| 过去12个月自由现金流最近4个季度 | $82.7M | $-611.4M |
8季度趋势，按日历期对齐
经营现金流OGETXNM
| Q4 25 | $384.8M | $157.7M | ||
| Q3 25 | $397.8M | $282.0M | ||
| Q2 25 | $338.6M | $3.5M | ||
| Q1 25 | $15.9M | $141.3M | ||
| Q4 24 | $129.6M | $158.6M | ||
| Q3 24 | $347.1M | $180.0M | ||
| Q2 24 | $253.1M | $76.7M | ||
| Q1 24 | $83.0M | $92.8M |
自由现金流OGETXNM
| Q4 25 | $83.1M | $-152.1M | ||
| Q3 25 | $168.3M | $4.7M | ||
| Q2 25 | $64.9M | $-262.6M | ||
| Q1 25 | $-233.6M | $-201.4M | ||
| Q4 24 | $-167.0M | $-182.9M | ||
| Q3 24 | $103.0M | $-143.7M | ||
| Q2 24 | $-70.2M | $-216.0M | ||
| Q1 24 | $-143.9M | $-196.3M |
自由现金流率OGETXNM
| Q4 25 | 11.8% | -30.0% | ||
| Q3 25 | 16.4% | 0.7% | ||
| Q2 25 | 9.0% | -53.2% | ||
| Q1 25 | -31.5% | -41.9% | ||
| Q4 24 | -22.4% | -38.0% | ||
| Q3 24 | 10.9% | -25.0% | ||
| Q2 24 | -10.9% | -45.6% | ||
| Q1 24 | -24.7% | -45.5% |
资本支出强度OGETXNM
| Q4 25 | 43.0% | 61.2% | ||
| Q3 25 | 22.3% | 42.3% | ||
| Q2 25 | 38.0% | 53.9% | ||
| Q1 25 | 33.7% | 71.3% | ||
| Q4 24 | 39.8% | 71.0% | ||
| Q3 24 | 25.8% | 56.4% | ||
| Q2 24 | 50.2% | 61.9% | ||
| Q1 24 | 38.9% | 67.1% |
现金转化率OGETXNM
| Q4 25 | 5.56× | — | ||
| Q3 25 | 1.72× | 2.07× | ||
| Q2 25 | 3.15× | 0.14× | ||
| Q1 25 | 0.25× | 11.04× | ||
| Q4 24 | 1.27× | 7.93× | ||
| Q3 24 | 1.59× | 1.32× | ||
| Q2 24 | 2.47× | 1.48× | ||
| Q1 24 | 4.46× | 1.84× |
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% |
TXNM
| Electricity | $348.8M | 69% |
| Other | $89.3M | 18% |
| Electric Transmission Service | $40.4M | 8% |
| Wholesale Energy Sales | $26.2M | 5% |
| Miscellaneous Revenue From Contracts With Customers | $1.7M | 0% |
