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PG&E Corporation（PCG）与贝宝（PYPL）财务数据对比。点击上方公司名可切换其他公司
贝宝的季度营收约是PG&E Corporation的1.3倍（$8.7B vs $6.9B），贝宝净利率更高（16.6% vs 12.9%，领先3.7%），PG&E Corporation同比增速更快（15.0% vs 3.7%），过去两年PG&E Corporation的营收复合增速更高（7.2% vs 6.2%）
PG&E Corporation是美国由投资者持有运营的公用事业企业，总部坐落于加利福尼亚州奥克兰市凯撒中心，为加州北部三分之二区域的520万户家庭提供天然气与电力供应服务，服务范围涵盖贝克斯菲尔德、圣巴巴拉县北部，几乎延伸至俄勒冈州与内华达州的州界。
贝宝控股（PayPal Holdings, Inc.）是美国跨国金融科技企业，在全球多数支持线上转账的国家运营在线支付系统，可作为支票、汇票等传统纸质支付方式的电子替代选项，同时为线上商户、拍卖网站及各类商业用户提供支付处理服务。
PCG vs PYPL — 直观对比
营收规模更大
PYPL
是对方的1.3倍
$6.9B
营收增速更快
PCG
高出11.3%
3.7%
净利率更高
PYPL
高出3.7%
12.9%
两年增速更快
PCG
近两年复合增速
6.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.9B | $8.7B |
| 净利润 | $885.0M | $1.4B |
| 毛利率 | — | — |
| 营业利润率 | 21.4% | 17.4% |
| 净利率 | 12.9% | 16.6% |
| 营收同比 | 15.0% | 3.7% |
| 净利润同比 | 39.6% | 28.2% |
| 每股收益（稀释后） | $0.39 | $1.53 |
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PCGPYPL
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.8B | $8.7B | ||
| Q3 25 | $6.3B | $8.4B | ||
| Q2 25 | $5.9B | $8.3B | ||
| Q1 25 | $6.0B | $7.8B | ||
| Q4 24 | $6.6B | $8.4B | ||
| Q3 24 | $5.9B | $7.8B | ||
| Q2 24 | $6.0B | $7.9B |
净利润PCGPYPL
| Q1 26 | $885.0M | — | ||
| Q4 25 | $670.0M | $1.4B | ||
| Q3 25 | $850.0M | $1.2B | ||
| Q2 25 | $549.0M | $1.3B | ||
| Q1 25 | $634.0M | $1.3B | ||
| Q4 24 | $674.0M | $1.1B | ||
| Q3 24 | $579.0M | $1.0B | ||
| Q2 24 | $524.0M | $1.1B |
营业利润率PCGPYPL
| Q1 26 | 21.4% | — | ||
| Q4 25 | 18.0% | 17.4% | ||
| Q3 25 | 19.3% | 18.1% | ||
| Q2 25 | 18.6% | 18.1% | ||
| Q1 25 | 20.4% | 19.6% | ||
| Q4 24 | 15.4% | 17.2% | ||
| Q3 24 | 17.3% | 17.7% | ||
| Q2 24 | 18.9% | 16.8% |
净利率PCGPYPL
| Q1 26 | 12.9% | — | ||
| Q4 25 | 9.8% | 16.6% | ||
| Q3 25 | 13.6% | 14.8% | ||
| Q2 25 | 9.3% | 15.2% | ||
| Q1 25 | 10.6% | 16.5% | ||
| Q4 24 | 10.2% | 13.4% | ||
| Q3 24 | 9.7% | 12.9% | ||
| Q2 24 | 8.8% | 14.3% |
每股收益（稀释后）PCGPYPL
| Q1 26 | $0.39 | — | ||
| Q4 25 | $0.29 | $1.53 | ||
| Q3 25 | $0.37 | $1.30 | ||
| Q2 25 | $0.24 | $1.29 | ||
| Q1 25 | $0.28 | $1.29 | ||
| Q4 24 | $0.30 | $1.09 | ||
| Q3 24 | $0.27 | $0.99 | ||
| Q2 24 | $0.24 | $1.08 |
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 | — | $10.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $20.3B |
| 总资产 | — | $80.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资PCGPYPL
| Q1 26 | — | — | ||
| Q4 25 | $713.0M | $10.4B | ||
| Q3 25 | $404.0M | $10.8B | ||
| Q2 25 | $494.0M | $10.0B | ||
| Q1 25 | $2.0B | $11.2B | ||
| Q4 24 | $940.0M | $10.8B | ||
| Q3 24 | $895.0M | $11.9B | ||
| Q2 24 | $1.3B | $13.6B |
总债务PCGPYPL
| Q1 26 | — | — | ||
| Q4 25 | $57.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $53.6B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益PCGPYPL
| Q1 26 | — | — | ||
| Q4 25 | $32.5B | $20.3B | ||
| Q3 25 | $32.0B | $20.2B | ||
| Q2 25 | $31.2B | $20.2B | ||
| Q1 25 | $30.7B | $20.3B | ||
| Q4 24 | $30.1B | $20.4B | ||
| Q3 24 | $26.8B | $20.2B | ||
| Q2 24 | $26.3B | $20.6B |
总资产PCGPYPL
| Q1 26 | — | — | ||
| Q4 25 | $141.6B | $80.2B | ||
| Q3 25 | $138.2B | $79.8B | ||
| Q2 25 | $136.4B | $79.8B | ||
| Q1 25 | $135.4B | $81.3B | ||
| Q4 24 | $133.7B | $81.6B | ||
| Q3 24 | $132.3B | $83.5B | ||
| Q2 24 | $130.8B | $84.0B |
负债/权益比PCGPYPL
| Q1 26 | — | — | ||
| Q4 25 | 1.76× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.78× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $2.4B |
| 自由现金流经营现金流 - 资本支出 | — | $2.2B |
| 自由现金流率自由现金流/营收 | — | 25.2% |
| 资本支出强度资本支出/营收 | — | 2.2% |
| 现金转化率经营现金流/净利润 | — | 1.66× |
| 过去12个月自由现金流最近4个季度 | — | $5.6B |
8季度趋势，按日历期对齐
经营现金流PCGPYPL
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $2.4B | ||
| Q3 25 | $2.9B | $2.0B | ||
| Q2 25 | $1.1B | $898.0M | ||
| Q1 25 | $2.8B | $1.2B | ||
| Q4 24 | $1.9B | $2.4B | ||
| Q3 24 | $3.1B | $1.6B | ||
| Q2 24 | $711.0M | $1.5B |
自由现金流PCGPYPL
| Q1 26 | — | — | ||
| Q4 25 | $-1.2B | $2.2B | ||
| Q3 25 | $-80.0M | $1.7B | ||
| Q2 25 | $-2.0B | $692.0M | ||
| Q1 25 | $213.0M | $964.0M | ||
| Q4 24 | $-896.0M | $2.2B | ||
| Q3 24 | $526.0M | $1.4B | ||
| Q2 24 | $-1.6B | $1.4B |
自由现金流率PCGPYPL
| Q1 26 | — | — | ||
| Q4 25 | -17.6% | 25.2% | ||
| Q3 25 | -1.3% | 20.4% | ||
| Q2 25 | -34.0% | 8.3% | ||
| Q1 25 | 3.6% | 12.4% | ||
| Q4 24 | -13.5% | 26.2% | ||
| Q3 24 | 8.9% | 18.4% | ||
| Q2 24 | -26.5% | 17.3% |
资本支出强度PCGPYPL
| Q1 26 | — | — | ||
| Q4 25 | 46.4% | 2.2% | ||
| Q3 25 | 46.9% | 3.0% | ||
| Q2 25 | 52.0% | 2.5% | ||
| Q1 25 | 44.0% | 2.5% | ||
| Q4 24 | 42.6% | 2.4% | ||
| Q3 24 | 43.8% | 2.2% | ||
| Q2 24 | 38.4% | 2.0% |
现金转化率PCGPYPL
| Q1 26 | — | — | ||
| Q4 25 | 2.93× | 1.66× | ||
| Q3 25 | 3.35× | 1.58× | ||
| Q2 25 | 1.93× | 0.71× | ||
| Q1 25 | 4.49× | 0.90× | ||
| Q4 24 | 2.87× | 2.14× | ||
| Q3 24 | 5.41× | 1.60× | ||
| Q2 24 | 1.36× | 1.35× |
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
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
PYPL
| US | $4.9B | 57% |
| Non Us | $3.7B | 43% |
