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PLUG POWER INC（PLUG）与BRC Group Holdings, Inc.（RILY）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BRC Group Holdings, Inc.的1.2倍（$225.2M vs $188.3M），BRC Group Holdings, Inc.净利率更高（47.9% vs -375.6%，领先423.6%），PLUG POWER INC同比增速更快（17.6% vs -21.9%），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs -15.4%）
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。
PLUG vs RILY — 直观对比
营收规模更大
PLUG
是对方的1.2倍
$188.3M
营收增速更快
PLUG
高出39.5%
-21.9%
净利率更高
RILY
高出423.6%
-375.6%
两年增速更快
PLUG
近两年复合增速
-15.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.2M | $188.3M |
| 净利润 | $-846.0M | $90.3M |
| 毛利率 | 2.4% | 79.5% |
| 营业利润率 | -338.9% | 32.3% |
| 净利率 | -375.6% | 47.9% |
| 营收同比 | 17.6% | -21.9% |
| 净利润同比 | 36.7% | 1710.8% |
| 每股收益（稀释后） | $-0.70 | $2.78 |
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PLUGRILY
| Q4 25 | $225.2M | $188.3M | ||
| Q3 25 | $177.1M | $215.3M | ||
| Q2 25 | $174.0M | $188.2M | ||
| Q1 25 | $133.7M | $197.2M | ||
| Q4 24 | $191.5M | $241.0M | ||
| Q3 24 | $173.7M | $225.5M | ||
| Q2 24 | $143.3M | $256.0M | ||
| Q1 24 | $120.3M | $263.4M |
净利润PLUGRILY
| Q4 25 | $-846.0M | $90.3M | ||
| Q3 25 | $-361.9M | $91.1M | ||
| Q2 25 | $-227.1M | $139.5M | ||
| Q1 25 | $-196.7M | $-10.0M | ||
| Q4 24 | $-1.3B | $-5.6M | ||
| Q3 24 | $-211.2M | $-284.4M | ||
| Q2 24 | $-262.3M | $-433.6M | ||
| Q1 24 | $-295.8M | $-49.2M |
毛利率PLUGRILY
| Q4 25 | 2.4% | 79.5% | ||
| Q3 25 | -67.9% | 83.7% | ||
| Q2 25 | -30.7% | 81.3% | ||
| Q1 25 | -55.3% | 81.4% | ||
| Q4 24 | -122.5% | 79.8% | ||
| Q3 24 | -57.6% | 82.1% | ||
| Q2 24 | -91.6% | 84.5% | ||
| Q1 24 | -132.3% | 85.3% |
营业利润率PLUGRILY
| Q4 25 | -338.9% | 32.3% | ||
| Q3 25 | -197.0% | 30.4% | ||
| Q2 25 | -101.7% | 5.7% | ||
| Q1 25 | -133.5% | -31.2% | ||
| Q4 24 | -678.7% | -69.2% | ||
| Q3 24 | -124.4% | -36.4% | ||
| Q2 24 | -170.7% | -90.8% | ||
| Q1 24 | -215.7% | -6.1% |
净利率PLUGRILY
| Q4 25 | -375.6% | 47.9% | ||
| Q3 25 | -204.4% | 42.3% | ||
| Q2 25 | -130.5% | 74.1% | ||
| Q1 25 | -147.1% | -5.1% | ||
| Q4 24 | -697.5% | -2.3% | ||
| Q3 24 | -121.5% | -126.1% | ||
| Q2 24 | -183.0% | -169.4% | ||
| Q1 24 | -245.9% | -18.7% |
每股收益（稀释后）PLUGRILY
| Q4 25 | $-0.70 | $2.78 | ||
| Q3 25 | $-0.31 | $2.91 | ||
| Q2 25 | $-0.20 | $4.50 | ||
| Q1 25 | $-0.21 | $-0.39 | ||
| Q4 24 | $-1.61 | $-0.01 | ||
| Q3 24 | $-0.25 | $-9.39 | ||
| Q2 24 | $-0.36 | $-14.35 | ||
| Q1 24 | $-0.46 | $-1.71 |
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 | $226.6M |
| 总债务越低越好 | — | $1.4B |
| 股东权益账面价值 | $978.1M | $-171.5M |
| 总资产 | $2.6B | $1.7B |
| 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PLUGRILY
| Q4 25 | $368.5M | $226.6M | ||
| Q3 25 | $165.9M | $184.2M | ||
| Q2 25 | $140.7M | $267.4M | ||
| Q1 25 | $295.8M | $138.3M | ||
| Q4 24 | $205.7M | $146.9M | ||
| Q3 24 | $93.9M | $159.2M | ||
| Q2 24 | $62.4M | $236.9M | ||
| Q1 24 | $172.9M | $190.7M |
总债务PLUGRILY
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | $3.9M | — | ||
| Q2 24 | $3.7M | — | ||
| Q1 24 | $3.8M | — |
股东权益PLUGRILY
| Q4 25 | $978.1M | $-171.5M | ||
| Q3 25 | $1.4B | $-260.5M | ||
| Q2 25 | $1.7B | $-351.7M | ||
| Q1 25 | $1.9B | $-496.8M | ||
| Q4 24 | $1.7B | $-488.2M | ||
| Q3 24 | $3.0B | $-497.6M | ||
| Q2 24 | $3.0B | $-218.3M | ||
| Q1 24 | $2.9B | $228.4M |
总资产PLUGRILY
| Q4 25 | $2.6B | $1.7B | ||
| Q3 25 | $3.1B | $1.7B | ||
| Q2 25 | $3.4B | $1.5B | ||
| Q1 25 | $3.6B | $1.5B | ||
| Q4 24 | $3.6B | $1.8B | ||
| Q3 24 | $4.7B | $2.2B | ||
| Q2 24 | $4.8B | $3.2B | ||
| Q1 24 | $4.8B | $5.0B |
负债/权益比PLUGRILY
| 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 | $26.2M |
| 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 | — | 0.29× |
| 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PLUGRILY
| Q4 25 | $-148.6M | $26.2M | ||
| Q3 25 | $-89.8M | $-60.6M | ||
| Q2 25 | $-191.8M | $-25.6M | ||
| Q1 25 | $-105.6M | $184.0K | ||
| Q4 24 | $-131.2M | $-2.7M | ||
| Q3 24 | $-174.9M | $19.5M | ||
| Q2 24 | $-254.7M | $111.5M | ||
| Q1 24 | $-167.7M | $135.4M |
自由现金流PLUGRILY
| 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PLUGRILY
| 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PLUGRILY
| 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PLUGRILY
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | -0.66× | ||
| Q2 25 | — | -0.18× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
