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PLUG POWER INC（PLUG）与STURM RUGER & CO INC（RGR）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STURM RUGER & CO INC的1.5倍（$225.2M vs $151.1M），PLUG POWER INC同比增速更快（17.6% vs 3.6%），STURM RUGER & CO INC自由现金流更多（$12.3M vs $-153.0M），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs 5.1%）
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。
鲁格公司（Ruger）是总部位于美国康涅狄格州绍斯波特的枪械制造企业，除总部外，还在新罕布什尔州纽波特、北卡罗来纳州梅约丹以及亚利桑那州普雷斯科特设有生产工厂。公司由亚历山大·麦考密克·斯特姆与威廉·B·鲁格于1949年共同创立，自1969年起公开上市交易。
PLUG vs RGR — 直观对比
营收规模更大
PLUG
是对方的1.5倍
$151.1M
营收增速更快
PLUG
高出14.0%
3.6%
自由现金流更多
RGR
多$165.4M
$-153.0M
两年增速更快
PLUG
近两年复合增速
5.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.2M | $151.1M |
| 净利润 | $-846.0M | — |
| 毛利率 | 2.4% | 17.8% |
| 营业利润率 | -338.9% | 2.3% |
| 净利率 | -375.6% | — |
| 营收同比 | 17.6% | 3.6% |
| 净利润同比 | 36.7% | — |
| 每股收益（稀释后） | $-0.70 | $0.22 |
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PLUGRGR
| Q4 25 | $225.2M | $151.1M | ||
| Q3 25 | $177.1M | $126.8M | ||
| Q2 25 | $174.0M | $132.5M | ||
| Q1 25 | $133.7M | $135.7M | ||
| Q4 24 | $191.5M | $145.8M | ||
| Q3 24 | $173.7M | $122.3M | ||
| Q2 24 | $143.3M | $130.8M | ||
| Q1 24 | $120.3M | $136.8M |
净利润PLUGRGR
| Q4 25 | $-846.0M | — | ||
| Q3 25 | $-361.9M | $1.6M | ||
| Q2 25 | $-227.1M | $-17.2M | ||
| Q1 25 | $-196.7M | $7.8M | ||
| Q4 24 | $-1.3B | — | ||
| Q3 24 | $-211.2M | $4.7M | ||
| Q2 24 | $-262.3M | $8.3M | ||
| Q1 24 | $-295.8M | $7.1M |
毛利率PLUGRGR
| Q4 25 | 2.4% | 17.8% | ||
| Q3 25 | -67.9% | 15.1% | ||
| Q2 25 | -30.7% | 3.9% | ||
| Q1 25 | -55.3% | 22.0% | ||
| Q4 24 | -122.5% | 22.8% | ||
| Q3 24 | -57.6% | 18.5% | ||
| Q2 24 | -91.6% | 22.3% | ||
| Q1 24 | -132.3% | 21.5% |
营业利润率PLUGRGR
| Q4 25 | -338.9% | 2.3% | ||
| Q3 25 | -197.0% | -2.7% | ||
| Q2 25 | -101.7% | -15.6% | ||
| Q1 25 | -133.5% | 6.2% | ||
| Q4 24 | -678.7% | 7.8% | ||
| Q3 24 | -124.4% | 3.1% | ||
| Q2 24 | -170.7% | 6.9% | ||
| Q1 24 | -215.7% | 5.5% |
净利率PLUGRGR
| Q4 25 | -375.6% | — | ||
| Q3 25 | -204.4% | 1.2% | ||
| Q2 25 | -130.5% | -13.0% | ||
| Q1 25 | -147.1% | 5.7% | ||
| Q4 24 | -697.5% | — | ||
| Q3 24 | -121.5% | 3.9% | ||
| Q2 24 | -183.0% | 6.3% | ||
| Q1 24 | -245.9% | 5.2% |
每股收益（稀释后）PLUGRGR
| Q4 25 | $-0.70 | $0.22 | ||
| Q3 25 | $-0.31 | $0.10 | ||
| Q2 25 | $-0.20 | $-1.05 | ||
| Q1 25 | $-0.21 | $0.46 | ||
| Q4 24 | $-1.61 | $0.62 | ||
| Q3 24 | $-0.25 | $0.28 | ||
| Q2 24 | $-0.36 | $0.47 | ||
| Q1 24 | $-0.46 | $0.40 |
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 | $92.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $978.1M | $283.8M |
| 总资产 | $2.6B | $342.0M |
| 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PLUGRGR
| Q4 25 | $368.5M | $92.5M | ||
| Q3 25 | $165.9M | $80.8M | ||
| Q2 25 | $140.7M | $101.4M | ||
| Q1 25 | $295.8M | $108.3M | ||
| Q4 24 | $205.7M | $105.5M | ||
| Q3 24 | $93.9M | $96.0M | ||
| Q2 24 | $62.4M | $105.6M | ||
| Q1 24 | $172.9M | $115.3M |
总债务PLUGRGR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $3.9M | — | ||
| Q2 24 | $3.7M | — | ||
| Q1 24 | $3.8M | — |
股东权益PLUGRGR
| Q4 25 | $978.1M | $283.8M | ||
| Q3 25 | $1.4B | $279.6M | ||
| Q2 25 | $1.7B | $289.3M | ||
| Q1 25 | $1.9B | $321.5M | ||
| Q4 24 | $1.7B | $319.6M | ||
| Q3 24 | $3.0B | $314.9M | ||
| Q2 24 | $3.0B | $321.5M | ||
| Q1 24 | $2.9B | $332.0M |
总资产PLUGRGR
| Q4 25 | $2.6B | $342.0M | ||
| Q3 25 | $3.1B | $342.3M | ||
| Q2 25 | $3.4B | $349.5M | ||
| Q1 25 | $3.6B | $379.0M | ||
| Q4 24 | $3.6B | $384.0M | ||
| Q3 24 | $4.7B | $373.5M | ||
| Q2 24 | $4.8B | $376.7M | ||
| Q1 24 | $4.8B | $385.0M |
负债/权益比PLUGRGR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 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 | $15.5M |
| 自由现金流经营现金流 - 资本支出 | $-153.0M | $12.3M |
| 自由现金流率自由现金流/营收 | -67.9% | 8.2% |
| 资本支出强度资本支出/营收 | 1.9% | 2.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-647.0M | $38.5M |
8季度趋势，按日历期对齐
经营现金流PLUGRGR
| Q4 25 | $-148.6M | $15.5M | ||
| Q3 25 | $-89.8M | $12.9M | ||
| Q2 25 | $-191.8M | $14.7M | ||
| Q1 25 | $-105.6M | $11.1M | ||
| Q4 24 | $-131.2M | $20.0M | ||
| Q3 24 | $-174.9M | $9.4M | ||
| Q2 24 | $-254.7M | $18.7M | ||
| Q1 24 | $-167.7M | $7.3M |
自由现金流PLUGRGR
| Q4 25 | $-153.0M | $12.3M | ||
| Q3 25 | $-117.5M | $7.0M | ||
| Q2 25 | $-230.4M | $9.1M | ||
| Q1 25 | $-146.0M | $10.0M | ||
| Q4 24 | $-165.2M | $16.4M | ||
| Q3 24 | $-234.2M | $2.6M | ||
| Q2 24 | $-356.0M | $10.1M | ||
| Q1 24 | $-260.3M | $5.6M |
自由现金流率PLUGRGR
| Q4 25 | -67.9% | 8.2% | ||
| Q3 25 | -66.4% | 5.5% | ||
| Q2 25 | -132.5% | 6.9% | ||
| Q1 25 | -109.2% | 7.4% | ||
| Q4 24 | -86.3% | 11.2% | ||
| Q3 24 | -134.8% | 2.1% | ||
| Q2 24 | -248.4% | 7.7% | ||
| Q1 24 | -216.5% | 4.1% |
资本支出强度PLUGRGR
| Q4 25 | 1.9% | 2.1% | ||
| Q3 25 | 15.6% | 4.6% | ||
| Q2 25 | 22.2% | 4.2% | ||
| Q1 25 | 30.3% | 0.8% | ||
| Q4 24 | 17.7% | 2.5% | ||
| Q3 24 | 34.1% | 5.5% | ||
| Q2 24 | 70.7% | 6.6% | ||
| Q1 24 | 77.0% | 1.3% |
现金转化率PLUGRGR
| Q4 25 | — | — | ||
| Q3 25 | — | 8.15× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.43× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.98× | ||
| Q2 24 | — | 2.27× | ||
| Q1 24 | — | 1.04× |
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% |
RGR
| Firearms | $150.6M | 100% |
| Castings | $7.3M | 5% |
