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PLUG POWER INC（PLUG）与Proto Labs Inc（PRLB）财务数据对比。点击上方公司名可切换其他公司
PLUG POWER INC的季度营收约是Proto Labs Inc的1.6倍（$225.2M vs $139.3M），Proto Labs Inc净利率更高（5.8% vs -375.6%，领先381.4%），PLUG POWER INC同比增速更快（17.6% vs 10.4%），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs 5.3%）
普拉格能源是一家美国企业，专注于氢燃料电池和电解槽系统的研发，其产品可替代电动设备及车辆所使用的传统电池。公司总部位于纽约州斯林格兰兹，在华盛顿州斯波坎、纽约州罗切斯特均设有生产运营基地。
Proto Labs是一家提供快速制造服务的企业，可通过3D打印、CNC加工、钣金加工以及注塑成型工艺，为客户生产用于原型制作和量产的定制零部件，产品广泛应用于医疗设备、航空航天、电子、家电、汽车、消费品等多个领域，公司总部位于美国明尼苏达州，在美国多地设有生产基地。
PLUG vs PRLB — 直观对比
营收规模更大
PLUG
是对方的1.6倍
$139.3M
营收增速更快
PLUG
高出7.2%
10.4%
净利率更高
PRLB
高出381.4%
-375.6%
两年增速更快
PLUG
近两年复合增速
5.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $225.2M | $139.3M |
| 净利润 | $-846.0M | $8.1M |
| 毛利率 | 2.4% | 45.6% |
| 营业利润率 | -338.9% | 7.1% |
| 净利率 | -375.6% | 5.8% |
| 营收同比 | 17.6% | 10.4% |
| 净利润同比 | 36.7% | 125.4% |
| 每股收益（稀释后） | $-0.70 | $0.29 |
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PLUGPRLB
| Q1 26 | — | $139.3M | ||
| Q4 25 | $225.2M | $136.5M | ||
| Q3 25 | $177.1M | $135.4M | ||
| Q2 25 | $174.0M | $135.1M | ||
| Q1 25 | $133.7M | $126.2M | ||
| Q4 24 | $191.5M | $121.8M | ||
| Q3 24 | $173.7M | $125.6M | ||
| Q2 24 | $143.3M | $125.6M |
净利润PLUGPRLB
| Q1 26 | — | $8.1M | ||
| Q4 25 | $-846.0M | — | ||
| Q3 25 | $-361.9M | $7.2M | ||
| Q2 25 | $-227.1M | $4.4M | ||
| Q1 25 | $-196.7M | $3.6M | ||
| Q4 24 | $-1.3B | — | ||
| Q3 24 | $-211.2M | $7.2M | ||
| Q2 24 | $-262.3M | $4.5M |
毛利率PLUGPRLB
| Q1 26 | — | 45.6% | ||
| Q4 25 | 2.4% | 44.2% | ||
| Q3 25 | -67.9% | 45.3% | ||
| Q2 25 | -30.7% | 44.3% | ||
| Q1 25 | -55.3% | 44.1% | ||
| Q4 24 | -122.5% | 42.7% | ||
| Q3 24 | -57.6% | 45.6% | ||
| Q2 24 | -91.6% | 45.0% |
营业利润率PLUGPRLB
| Q1 26 | — | 7.1% | ||
| Q4 25 | -338.9% | 5.0% | ||
| Q3 25 | -197.0% | 6.5% | ||
| Q2 25 | -101.7% | 3.7% | ||
| Q1 25 | -133.5% | 3.6% | ||
| Q4 24 | -678.7% | -1.2% | ||
| Q3 24 | -124.4% | 6.8% | ||
| Q2 24 | -170.7% | 4.8% |
净利率PLUGPRLB
| Q1 26 | — | 5.8% | ||
| Q4 25 | -375.6% | — | ||
| Q3 25 | -204.4% | 5.3% | ||
| Q2 25 | -130.5% | 3.3% | ||
| Q1 25 | -147.1% | 2.9% | ||
| Q4 24 | -697.5% | — | ||
| Q3 24 | -121.5% | 5.7% | ||
| Q2 24 | -183.0% | 3.6% |
每股收益（稀释后）PLUGPRLB
| Q1 26 | — | $0.29 | ||
| Q4 25 | $-0.70 | $0.25 | ||
| Q3 25 | $-0.31 | $0.30 | ||
| Q2 25 | $-0.20 | $0.18 | ||
| Q1 25 | $-0.21 | $0.15 | ||
| Q4 24 | $-1.61 | $-0.01 | ||
| Q3 24 | $-0.25 | $0.29 | ||
| Q2 24 | $-0.36 | $0.18 |
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 | $368.5M | $124.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $978.1M | $683.1M |
| 总资产 | $2.6B | $778.6M |
| 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PLUGPRLB
| Q1 26 | — | $124.0M | ||
| Q4 25 | $368.5M | $128.1M | ||
| Q3 25 | $165.9M | $119.2M | ||
| Q2 25 | $140.7M | $103.2M | ||
| Q1 25 | $295.8M | $96.8M | ||
| Q4 24 | $205.7M | $103.1M | ||
| Q3 24 | $93.9M | $100.5M | ||
| Q2 24 | $62.4M | $112.9M |
总债务PLUGPRLB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $3.9M | — | ||
| Q2 24 | $3.7M | — |
股东权益PLUGPRLB
| Q1 26 | — | $683.1M | ||
| Q4 25 | $978.1M | $673.9M | ||
| Q3 25 | $1.4B | $664.7M | ||
| Q2 25 | $1.7B | $664.7M | ||
| Q1 25 | $1.9B | $656.8M | ||
| Q4 24 | $1.7B | $670.2M | ||
| Q3 24 | $3.0B | $680.0M | ||
| Q2 24 | $3.0B | $685.2M |
总资产PLUGPRLB
| Q1 26 | — | $778.6M | ||
| Q4 25 | $2.6B | $763.4M | ||
| Q3 25 | $3.1B | $756.9M | ||
| Q2 25 | $3.4B | $743.3M | ||
| Q1 25 | $3.6B | $737.5M | ||
| Q4 24 | $3.6B | $743.5M | ||
| Q3 24 | $4.7B | $753.8M | ||
| Q2 24 | $4.8B | $758.2M |
负债/权益比PLUGPRLB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — |
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 | $-148.6M | $17.5M |
| 自由现金流经营现金流 - 资本支出 | $-153.0M | — |
| 自由现金流率自由现金流/营收 | -67.9% | — |
| 资本支出强度资本支出/营收 | 1.9% | — |
| 现金转化率经营现金流/净利润 | — | 2.16× |
| 过去12个月自由现金流最近4个季度 | $-647.0M | — |
8季度趋势，按日历期对齐
经营现金流PLUGPRLB
| Q1 26 | — | $17.5M | ||
| Q4 25 | $-148.6M | $16.5M | ||
| Q3 25 | $-89.8M | $29.1M | ||
| Q2 25 | $-191.8M | $10.6M | ||
| Q1 25 | $-105.6M | $18.4M | ||
| Q4 24 | $-131.2M | $17.3M | ||
| Q3 24 | $-174.9M | $24.8M | ||
| Q2 24 | $-254.7M | $14.4M |
自由现金流PLUGPRLB
| Q1 26 | — | — | ||
| Q4 25 | $-153.0M | $8.4M | ||
| Q3 25 | $-117.5M | $25.0M | ||
| Q2 25 | $-230.4M | $9.1M | ||
| Q1 25 | $-146.0M | $17.1M | ||
| Q4 24 | $-165.2M | $16.5M | ||
| Q3 24 | $-234.2M | $23.2M | ||
| Q2 24 | $-356.0M | $10.2M |
自由现金流率PLUGPRLB
| Q1 26 | — | — | ||
| Q4 25 | -67.9% | 6.2% | ||
| Q3 25 | -66.4% | 18.5% | ||
| Q2 25 | -132.5% | 6.7% | ||
| Q1 25 | -109.2% | 13.6% | ||
| Q4 24 | -86.3% | 13.5% | ||
| Q3 24 | -134.8% | 18.5% | ||
| Q2 24 | -248.4% | 8.2% |
资本支出强度PLUGPRLB
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 5.9% | ||
| Q3 25 | 15.6% | 3.0% | ||
| Q2 25 | 22.2% | 1.1% | ||
| Q1 25 | 30.3% | 1.0% | ||
| Q4 24 | 17.7% | 0.7% | ||
| Q3 24 | 34.1% | 1.2% | ||
| Q2 24 | 70.7% | 3.3% |
现金转化率PLUGPRLB
| Q1 26 | — | 2.16× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 4.03× | ||
| Q2 25 | — | 2.39× | ||
| Q1 25 | — | 5.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.44× | ||
| Q2 24 | — | 3.18× |
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
PLUG
| Sales Of Equipment And Related Infrastructure | $111.6M | 50% |
| Services Performed On Fuel Cell Systems And Related Infrastructure | $41.5M | 18% |
| Power Purchase Agreements | $36.1M | 16% |
| Sale Of Cryogenic Equipment | $20.0M | 9% |
| Sales Of Fuel Cell Systems | $11.2M | 5% |
| Other | $4.8M | 2% |
PRLB
| CNC Machining | $63.2M | 45% |
| Injection Molding | $51.1M | 37% |
| 3D Printing | $20.5M | 15% |
| Sheet Metal | $4.4M | 3% |
| Other Revenue | $207.0K | 0% |
