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北极星（PII）与Pinnacle West Capital（PNW）财务数据对比。点击上方公司名可切换其他公司
北极星的季度营收约是Pinnacle West Capital的1.5倍（$1.7B vs $1.1B），Pinnacle West Capital净利率更高（1.6% vs -2.8%，领先4.4%），北极星同比增速更快（8.0% vs 3.0%），Pinnacle West Capital自由现金流更多（$-192.7M vs $-342.5M），过去两年Pinnacle West Capital的营收复合增速更高（8.9% vs -8.0%）
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
Pinnacle West Capital是美国公用事业控股企业，旗下拥有亚利桑那州规模最大的公用事业公司亚利桑那公共服务（APS）。公司于纽约证券交易所上市，是标普500指数成分股，运营受亚利桑那州公司委员会监管。
PII vs PNW — 直观对比
营收规模更大
PII
是对方的1.5倍
$1.1B
营收增速更快
PII
高出5.0%
3.0%
净利率更高
PNW
高出4.4%
-2.8%
自由现金流更多
PNW
多$149.8M
$-342.5M
两年增速更快
PNW
近两年复合增速
-8.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.1B |
| 净利润 | $-47.2M | $17.6M |
| 毛利率 | 20.2% | — |
| 营业利润率 | — | 10.7% |
| 净利率 | -2.8% | 1.6% |
| 营收同比 | 8.0% | 3.0% |
| 净利润同比 | 29.2% | 798.0% |
| 每股收益（稀释后） | $-0.83 | $0.12 |
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PIIPNW
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.9B | $1.1B | ||
| Q3 25 | $1.8B | $1.8B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $1.5B | $1.0B | ||
| Q4 24 | $1.8B | $1.1B | ||
| Q3 24 | $1.7B | $1.8B | ||
| Q2 24 | $2.0B | $1.3B |
净利润PIIPNW
| Q1 26 | $-47.2M | — | ||
| Q4 25 | $-303.6M | $17.6M | ||
| Q3 25 | $-15.8M | $417.5M | ||
| Q2 25 | $-79.3M | $196.9M | ||
| Q1 25 | $-66.8M | $-338.0K | ||
| Q4 24 | $10.6M | $-2.5M | ||
| Q3 24 | $27.7M | $399.3M | ||
| Q2 24 | $68.7M | $208.1M |
毛利率PIIPNW
| Q1 26 | 20.2% | — | ||
| Q4 25 | 20.0% | — | ||
| Q3 25 | 20.7% | — | ||
| Q2 25 | 19.4% | — | ||
| Q1 25 | 16.0% | — | ||
| Q4 24 | 20.4% | — | ||
| Q3 24 | 20.6% | — | ||
| Q2 24 | 21.6% | — |
营业利润率PIIPNW
| Q1 26 | — | — | ||
| Q4 25 | -16.7% | 10.7% | ||
| Q3 25 | 1.1% | 32.0% | ||
| Q2 25 | -0.7% | 22.6% | ||
| Q1 25 | -2.4% | 5.5% | ||
| Q4 24 | 3.7% | 7.7% | ||
| Q3 24 | 3.8% | 30.9% | ||
| Q2 24 | 6.1% | 24.0% |
净利率PIIPNW
| Q1 26 | -2.8% | — | ||
| Q4 25 | -15.8% | 1.6% | ||
| Q3 25 | -0.9% | 22.9% | ||
| Q2 25 | -4.3% | 14.5% | ||
| Q1 25 | -4.3% | -0.0% | ||
| Q4 24 | 0.6% | -0.2% | ||
| Q3 24 | 1.6% | 22.6% | ||
| Q2 24 | 3.5% | 15.9% |
每股收益（稀释后）PIIPNW
| Q1 26 | $-0.83 | — | ||
| Q4 25 | $-5.34 | $0.12 | ||
| Q3 25 | $-0.28 | $3.39 | ||
| Q2 25 | $-1.39 | $1.58 | ||
| Q1 25 | $-1.17 | $-0.04 | ||
| Q4 24 | $0.18 | $-0.04 | ||
| Q3 24 | $0.49 | $3.37 | ||
| Q2 24 | $1.21 | $1.76 |
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 | $282.0M | $6.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $750.4M | $7.0B |
| 总资产 | $5.2B | $30.0B |
| 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PIIPNW
| Q1 26 | $282.0M | — | ||
| Q4 25 | $138.0M | $6.6M | ||
| Q3 25 | $335.5M | $30.9M | ||
| Q2 25 | $324.3M | $18.8M | ||
| Q1 25 | $291.7M | $10.0M | ||
| Q4 24 | $287.8M | $3.8M | ||
| Q3 24 | $291.3M | $49.2M | ||
| Q2 24 | $322.7M | $4.0M |
总债务PIIPNW
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $2.1B | — |
股东权益PIIPNW
| Q1 26 | $750.4M | — | ||
| Q4 25 | $828.4M | $7.0B | ||
| Q3 25 | $1.1B | $7.2B | ||
| Q2 25 | $1.2B | $6.7B | ||
| Q1 25 | $1.2B | $6.7B | ||
| Q4 24 | $1.3B | $6.8B | ||
| Q3 24 | $1.3B | $6.6B | ||
| Q2 24 | $1.3B | $6.2B |
总资产PIIPNW
| Q1 26 | $5.2B | — | ||
| Q4 25 | $4.9B | $30.0B | ||
| Q3 25 | $5.3B | $29.9B | ||
| Q2 25 | $5.4B | $29.2B | ||
| Q1 25 | $5.5B | $27.2B | ||
| Q4 24 | $5.5B | $26.1B | ||
| Q3 24 | $5.6B | $26.3B | ||
| Q2 24 | $5.7B | $25.7B |
负债/权益比PIIPNW
| Q1 26 | — | — | ||
| Q4 25 | 1.82× | — | ||
| Q3 25 | 1.13× | — | ||
| Q2 25 | 1.17× | — | ||
| Q1 25 | 1.32× | — | ||
| Q4 24 | 1.27× | — | ||
| Q3 24 | 1.29× | — | ||
| Q2 24 | 1.56× | — |
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 | — | $476.8M |
| 自由现金流经营现金流 - 资本支出 | $-342.5M | $-192.7M |
| 自由现金流率自由现金流/营收 | -20.6% | -17.1% |
| 资本支出强度资本支出/营收 | — | 59.3% |
| 现金转化率经营现金流/净利润 | — | 27.09× |
| 过去12个月自由现金流最近4个季度 | $168.0M | $-819.5M |
8季度趋势，按日历期对齐
经营现金流PIIPNW
| Q1 26 | — | — | ||
| Q4 25 | $178.7M | $476.8M | ||
| Q3 25 | $158.8M | $665.0M | ||
| Q2 25 | $320.3M | $261.4M | ||
| Q1 25 | $83.2M | $401.9M | ||
| Q4 24 | $206.3M | $439.5M | ||
| Q3 24 | $21.0M | $633.2M | ||
| Q2 24 | $146.3M | $189.8M |
自由现金流PIIPNW
| Q1 26 | $-342.5M | — | ||
| Q4 25 | $114.0M | $-192.7M | ||
| Q3 25 | $116.7M | $42.0M | ||
| Q2 25 | $279.8M | $-448.1M | ||
| Q1 25 | $47.6M | $-220.7M | ||
| Q4 24 | $137.3M | $-92.1M | ||
| Q3 24 | $-32.4M | $-32.7M | ||
| Q2 24 | $79.1M | $-344.2M |
自由现金流率PIIPNW
| Q1 26 | -20.6% | — | ||
| Q4 25 | 5.9% | -17.1% | ||
| Q3 25 | 6.3% | 2.3% | ||
| Q2 25 | 15.1% | -33.0% | ||
| Q1 25 | 3.1% | -21.4% | ||
| Q4 24 | 7.8% | -8.4% | ||
| Q3 24 | -1.9% | -1.8% | ||
| Q2 24 | 4.0% | -26.3% |
资本支出强度PIIPNW
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 59.3% | ||
| Q3 25 | 2.3% | 34.2% | ||
| Q2 25 | 2.2% | 52.2% | ||
| Q1 25 | 2.3% | 60.3% | ||
| Q4 24 | 3.9% | 48.5% | ||
| Q3 24 | 3.1% | 37.6% | ||
| Q2 24 | 3.4% | 40.8% |
现金转化率PIIPNW
| Q1 26 | — | — | ||
| Q4 25 | — | 27.09× | ||
| Q3 25 | — | 1.59× | ||
| Q2 25 | — | 1.33× | ||
| Q1 25 | — | — | ||
| Q4 24 | 19.46× | — | ||
| Q3 24 | 0.76× | 1.59× | ||
| Q2 24 | 2.13× | 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
PII
暂无分部数据
PNW
| Electricand Transmission Service | $1.1B | 100% |
| Other Services | $4.4M | 0% |
