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北极星（PII）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的季度营收约是北极星的1.4倍（$2.3B vs $1.7B），PPL Corporation净利率更高（11.3% vs -2.8%，领先14.2%），北极星同比增速更快（8.0% vs 7.2%），北极星自由现金流更多（$-342.5M vs $-614.0M），过去两年PPL Corporation的营收复合增速更高（1.0% 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。
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。
PII vs PPL — 直观对比
营收规模更大
PPL
是对方的1.4倍
$1.7B
营收增速更快
PII
高出0.8%
7.2%
净利率更高
PPL
高出14.2%
-2.8%
自由现金流更多
PII
多$271.5M
$-614.0M
两年增速更快
PPL
近两年复合增速
-8.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $2.3B |
| 净利润 | $-47.2M | $266.0M |
| 毛利率 | 20.2% | — |
| 营业利润率 | — | 20.3% |
| 净利率 | -2.8% | 11.3% |
| 营收同比 | 8.0% | 7.2% |
| 净利润同比 | 29.2% | 50.3% |
| 每股收益（稀释后） | $-0.83 | $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PIIPPL
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.9B | $2.3B | ||
| Q3 25 | $1.8B | $2.2B | ||
| Q2 25 | $1.9B | $2.0B | ||
| Q1 25 | $1.5B | $2.5B | ||
| Q4 24 | $1.8B | $2.2B | ||
| Q3 24 | $1.7B | $2.1B | ||
| Q2 24 | $2.0B | $1.9B |
净利润PIIPPL
| Q1 26 | $-47.2M | — | ||
| Q4 25 | $-303.6M | $266.0M | ||
| Q3 25 | $-15.8M | $318.0M | ||
| Q2 25 | $-79.3M | $183.0M | ||
| Q1 25 | $-66.8M | $414.0M | ||
| Q4 24 | $10.6M | $177.0M | ||
| Q3 24 | $27.7M | $214.0M | ||
| Q2 24 | $68.7M | $190.0M |
毛利率PIIPPL
| 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PIIPPL
| Q1 26 | — | — | ||
| Q4 25 | -16.7% | 20.3% | ||
| Q3 25 | 1.1% | 25.4% | ||
| Q2 25 | -0.7% | 19.9% | ||
| Q1 25 | -2.4% | 26.6% | ||
| Q4 24 | 3.7% | 17.2% | ||
| Q3 24 | 3.8% | 20.6% | ||
| Q2 24 | 6.1% | 20.8% |
净利率PIIPPL
| Q1 26 | -2.8% | — | ||
| Q4 25 | -15.8% | 11.3% | ||
| Q3 25 | -0.9% | 14.2% | ||
| Q2 25 | -4.3% | 9.0% | ||
| Q1 25 | -4.3% | 16.3% | ||
| Q4 24 | 0.6% | 8.1% | ||
| Q3 24 | 1.6% | 10.3% | ||
| Q2 24 | 3.5% | 10.1% |
每股收益（稀释后）PIIPPL
| Q1 26 | $-0.83 | — | ||
| Q4 25 | $-5.34 | $0.35 | ||
| Q3 25 | $-0.28 | $0.43 | ||
| Q2 25 | $-1.39 | $0.25 | ||
| Q1 25 | $-1.17 | $0.56 | ||
| Q4 24 | $0.18 | $0.23 | ||
| Q3 24 | $0.49 | $0.29 | ||
| Q2 24 | $1.21 | $0.26 |
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 | $1.1B |
| 总债务越低越好 | — | $18.9B |
| 股东权益账面价值 | $750.4M | $14.9B |
| 总资产 | $5.2B | $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PIIPPL
| Q1 26 | $282.0M | — | ||
| Q4 25 | $138.0M | $1.1B | ||
| Q3 25 | $335.5M | $1.1B | ||
| Q2 25 | $324.3M | $294.0M | ||
| Q1 25 | $291.7M | $312.0M | ||
| Q4 24 | $287.8M | $306.0M | ||
| Q3 24 | $291.3M | $542.0M | ||
| Q2 24 | $322.7M | $282.0M |
总债务PIIPPL
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $18.9B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.6B | $16.5B | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $2.1B | — |
股东权益PIIPPL
| Q1 26 | $750.4M | — | ||
| Q4 25 | $828.4M | $14.9B | ||
| Q3 25 | $1.1B | $14.4B | ||
| Q2 25 | $1.2B | $14.3B | ||
| Q1 25 | $1.2B | $14.3B | ||
| Q4 24 | $1.3B | $14.1B | ||
| Q3 24 | $1.3B | $14.1B | ||
| Q2 24 | $1.3B | $14.1B |
总资产PIIPPL
| Q1 26 | $5.2B | — | ||
| Q4 25 | $4.9B | $45.2B | ||
| Q3 25 | $5.3B | $43.9B | ||
| Q2 25 | $5.4B | $42.4B | ||
| Q1 25 | $5.5B | $41.8B | ||
| Q4 24 | $5.5B | $41.1B | ||
| Q3 24 | $5.6B | $40.5B | ||
| Q2 24 | $5.7B | $39.8B |
负债/权益比PIIPPL
| Q1 26 | — | — | ||
| Q4 25 | 1.82× | 1.27× | ||
| Q3 25 | 1.13× | — | ||
| Q2 25 | 1.17× | — | ||
| Q1 25 | 1.32× | — | ||
| Q4 24 | 1.27× | 1.17× | ||
| 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 | — | $548.0M |
| 自由现金流经营现金流 - 资本支出 | $-342.5M | $-614.0M |
| 自由现金流率自由现金流/营收 | -20.6% | -26.1% |
| 资本支出强度资本支出/营收 | — | 49.5% |
| 现金转化率经营现金流/净利润 | — | 2.06× |
| 过去12个月自由现金流最近4个季度 | $168.0M | $-1.4B |
8季度趋势，按日历期对齐
经营现金流PIIPPL
| Q1 26 | — | — | ||
| Q4 25 | $178.7M | $548.0M | ||
| Q3 25 | $158.8M | $966.0M | ||
| Q2 25 | $320.3M | $602.0M | ||
| Q1 25 | $83.2M | $513.0M | ||
| Q4 24 | $206.3M | $511.0M | ||
| Q3 24 | $21.0M | $781.0M | ||
| Q2 24 | $146.3M | $766.0M |
自由现金流PIIPPL
| Q1 26 | $-342.5M | — | ||
| Q4 25 | $114.0M | $-614.0M | ||
| Q3 25 | $116.7M | $-179.0M | ||
| Q2 25 | $279.8M | $-328.0M | ||
| Q1 25 | $47.6M | $-280.0M | ||
| Q4 24 | $137.3M | $-349.0M | ||
| Q3 24 | $-32.4M | $102.0M | ||
| Q2 24 | $79.1M | $96.0M |
自由现金流率PIIPPL
| Q1 26 | -20.6% | — | ||
| Q4 25 | 5.9% | -26.1% | ||
| Q3 25 | 6.3% | -8.0% | ||
| Q2 25 | 15.1% | -16.1% | ||
| Q1 25 | 3.1% | -11.0% | ||
| Q4 24 | 7.8% | -15.9% | ||
| Q3 24 | -1.9% | 4.9% | ||
| Q2 24 | 4.0% | 5.1% |
资本支出强度PIIPPL
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 49.5% | ||
| Q3 25 | 2.3% | 51.2% | ||
| Q2 25 | 2.2% | 45.6% | ||
| Q1 25 | 2.3% | 31.2% | ||
| Q4 24 | 3.9% | 39.3% | ||
| Q3 24 | 3.1% | 32.7% | ||
| Q2 24 | 3.4% | 35.8% |
现金转化率PIIPPL
| Q1 26 | — | — | ||
| Q4 25 | — | 2.06× | ||
| Q3 25 | — | 3.04× | ||
| Q2 25 | — | 3.29× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | 19.46× | 2.89× | ||
| Q3 24 | 0.76× | 3.65× | ||
| Q2 24 | 2.13× | 4.03× |
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
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% |
