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PLUG POWER INC（PLUG）与Regency Centers（REG）财务数据对比。点击上方公司名可切换其他公司
Regency Centers的季度营收约是PLUG POWER INC的1.8倍（$404.2M vs $225.2M），Regency Centers净利率更高（50.1% vs -375.6%，领先425.7%），PLUG POWER INC同比增速更快（17.6% vs 8.5%），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs 5.4%）
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。
Regency Centers是总部位于美国佛罗里达州杰克逊维尔的房地产投资信托基金，也是以超市为核心租户的大型购物中心运营商之一。截至2020年10月21日，公司共持有415处物业，总建筑面积达5600万平方英尺，知名资产包括Serramonte Center及Village District 30%的股权。
PLUG vs REG — 直观对比
营收规模更大
REG
是对方的1.8倍
$225.2M
营收增速更快
PLUG
高出9.1%
8.5%
净利率更高
REG
高出425.7%
-375.6%
两年增速更快
PLUG
近两年复合增速
5.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.2M | $404.2M |
| 净利润 | $-846.0M | $202.5M |
| 毛利率 | 2.4% | — |
| 营业利润率 | -338.9% | 71.0% |
| 净利率 | -375.6% | 50.1% |
| 营收同比 | 17.6% | 8.5% |
| 净利润同比 | 36.7% | 134.1% |
| 每股收益（稀释后） | $-0.70 | — |
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PLUGREG
| Q4 25 | $225.2M | $404.2M | ||
| Q3 25 | $177.1M | $387.6M | ||
| Q2 25 | $174.0M | $380.8M | ||
| Q1 25 | $133.7M | $380.9M | ||
| Q4 24 | $191.5M | $372.5M | ||
| Q3 24 | $173.7M | $360.3M | ||
| Q2 24 | $143.3M | $357.3M | ||
| Q1 24 | $120.3M | $363.9M |
净利润PLUGREG
| Q4 25 | $-846.0M | $202.5M | ||
| Q3 25 | $-361.9M | $109.4M | ||
| Q2 25 | $-227.1M | $106.0M | ||
| Q1 25 | $-196.7M | $109.6M | ||
| Q4 24 | $-1.3B | $86.5M | ||
| Q3 24 | $-211.2M | $101.5M | ||
| Q2 24 | $-262.3M | $102.7M | ||
| Q1 24 | $-295.8M | $109.8M |
毛利率PLUGREG
| Q4 25 | 2.4% | — | ||
| Q3 25 | -67.9% | — | ||
| Q2 25 | -30.7% | — | ||
| Q1 25 | -55.3% | — | ||
| Q4 24 | -122.5% | — | ||
| Q3 24 | -57.6% | — | ||
| Q2 24 | -91.6% | — | ||
| Q1 24 | -132.3% | — |
营业利润率PLUGREG
| Q4 25 | -338.9% | 71.0% | ||
| Q3 25 | -197.0% | 72.7% | ||
| Q2 25 | -101.7% | 73.8% | ||
| Q1 25 | -133.5% | 71.8% | ||
| Q4 24 | -678.7% | 71.1% | ||
| Q3 24 | -124.4% | 72.5% | ||
| Q2 24 | -170.7% | 72.3% | ||
| Q1 24 | -215.7% | 72.3% |
净利率PLUGREG
| Q4 25 | -375.6% | 50.1% | ||
| Q3 25 | -204.4% | 28.2% | ||
| Q2 25 | -130.5% | 27.8% | ||
| Q1 25 | -147.1% | 28.8% | ||
| Q4 24 | -697.5% | 23.2% | ||
| Q3 24 | -121.5% | 28.2% | ||
| Q2 24 | -183.0% | 28.7% | ||
| Q1 24 | -245.9% | 30.2% |
每股收益（稀释后）PLUGREG
| Q4 25 | $-0.70 | — | ||
| Q3 25 | $-0.31 | — | ||
| Q2 25 | $-0.20 | — | ||
| Q1 25 | $-0.21 | — | ||
| Q4 24 | $-1.61 | — | ||
| Q3 24 | $-0.25 | — | ||
| Q2 24 | $-0.36 | — | ||
| Q1 24 | $-0.46 | — |
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 | — |
| 总债务越低越好 | — | $4.7B |
| 股东权益账面价值 | $978.1M | $6.9B |
| 总资产 | $2.6B | $13.0B |
| 负债/权益比越低杠杆越低 | — | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资PLUGREG
| Q4 25 | $368.5M | — | ||
| Q3 25 | $165.9M | — | ||
| Q2 25 | $140.7M | — | ||
| Q1 25 | $295.8M | — | ||
| Q4 24 | $205.7M | — | ||
| Q3 24 | $93.9M | — | ||
| Q2 24 | $62.4M | — | ||
| Q1 24 | $172.9M | — |
总债务PLUGREG
| Q4 25 | — | $4.7B | ||
| Q3 25 | — | $4.9B | ||
| Q2 25 | — | $4.8B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | — | $4.4B | ||
| Q3 24 | $3.9M | $4.4B | ||
| Q2 24 | $3.7M | $4.4B | ||
| Q1 24 | $3.8M | $4.4B |
股东权益PLUGREG
| Q4 25 | $978.1M | $6.9B | ||
| Q3 25 | $1.4B | $6.8B | ||
| Q2 25 | $1.7B | $6.7B | ||
| Q1 25 | $1.9B | $6.7B | ||
| Q4 24 | $1.7B | $6.7B | ||
| Q3 24 | $3.0B | $6.8B | ||
| Q2 24 | $3.0B | $6.8B | ||
| Q1 24 | $2.9B | $7.0B |
总资产PLUGREG
| Q4 25 | $2.6B | $13.0B | ||
| Q3 25 | $3.1B | $13.1B | ||
| Q2 25 | $3.4B | $12.7B | ||
| Q1 25 | $3.6B | $12.6B | ||
| Q4 24 | $3.6B | $12.4B | ||
| Q3 24 | $4.7B | $12.4B | ||
| Q2 24 | $4.8B | $12.4B | ||
| Q1 24 | $4.8B | $12.7B |
负债/权益比PLUGREG
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | 0.00× | 0.65× | ||
| Q2 24 | 0.00× | 0.64× | ||
| Q1 24 | 0.00× | 0.63× |
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 | $203.9M |
| 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 | — | 1.01× |
| 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PLUGREG
| Q4 25 | $-148.6M | $203.9M | ||
| Q3 25 | $-89.8M | $218.7M | ||
| Q2 25 | $-191.8M | $244.0M | ||
| Q1 25 | $-105.6M | $161.0M | ||
| Q4 24 | $-131.2M | $191.4M | ||
| Q3 24 | $-174.9M | $227.6M | ||
| Q2 24 | $-254.7M | $203.5M | ||
| Q1 24 | $-167.7M | $167.8M |
自由现金流PLUGREG
| Q4 25 | $-153.0M | — | ||
| Q3 25 | $-117.5M | — | ||
| Q2 25 | $-230.4M | — | ||
| Q1 25 | $-146.0M | — | ||
| Q4 24 | $-165.2M | — | ||
| Q3 24 | $-234.2M | — | ||
| Q2 24 | $-356.0M | — | ||
| Q1 24 | $-260.3M | — |
自由现金流率PLUGREG
| Q4 25 | -67.9% | — | ||
| Q3 25 | -66.4% | — | ||
| Q2 25 | -132.5% | — | ||
| Q1 25 | -109.2% | — | ||
| Q4 24 | -86.3% | — | ||
| Q3 24 | -134.8% | — | ||
| Q2 24 | -248.4% | — | ||
| Q1 24 | -216.5% | — |
资本支出强度PLUGREG
| Q4 25 | 1.9% | — | ||
| Q3 25 | 15.6% | — | ||
| Q2 25 | 22.2% | — | ||
| Q1 25 | 30.3% | — | ||
| Q4 24 | 17.7% | — | ||
| Q3 24 | 34.1% | — | ||
| Q2 24 | 70.7% | — | ||
| Q1 24 | 77.0% | — |
现金转化率PLUGREG
| Q4 25 | — | 1.01× | ||
| Q3 25 | — | 2.00× | ||
| Q2 25 | — | 2.30× | ||
| Q1 25 | — | 1.47× | ||
| Q4 24 | — | 2.21× | ||
| Q3 24 | — | 2.24× | ||
| Q2 24 | — | 1.98× | ||
| Q1 24 | — | 1.53× |
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% |
REG
| Shopping Centers | $418.0M | 103% |
| Propertymanagementservices | $4.1M | 1% |
| Assetmanagementservices | $1.7M | 0% |
