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PLUG POWER INC（PLUG）与UNITIL CORP（UTL）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UNITIL CORP的1.4倍（$225.2M vs $161.5M），UNITIL CORP净利率更高（11.8% vs -375.6%，领先387.4%），UNITIL CORP同比增速更快（26.7% vs 17.6%），UNITIL CORP自由现金流更多（$-36.3M vs $-153.0M），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs -4.9%）
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。
Unitil是一家跨州电力与天然气公用事业公司，业务覆盖美国新罕布什尔州、马萨诸塞州与缅因州。公司最早前身是1849年在缅因州成立的波特兰煤气灯公司，现企业主体于1984年设立，总部位于新罕布什尔州。目前公司总市值约6.8651亿美元，为约10.24万电力客户、超7.59万天然气客户提供服务。
PLUG vs UTL — 直观对比
营收规模更大
PLUG
是对方的1.4倍
$161.5M
营收增速更快
UTL
高出9.0%
17.6%
净利率更高
UTL
高出387.4%
-375.6%
自由现金流更多
UTL
多$116.7M
$-153.0M
两年增速更快
PLUG
近两年复合增速
-4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.2M | $161.5M |
| 净利润 | $-846.0M | $19.0M |
| 毛利率 | 2.4% | — |
| 营业利润率 | -338.9% | 21.5% |
| 净利率 | -375.6% | 11.8% |
| 营收同比 | 17.6% | 26.7% |
| 净利润同比 | 36.7% | 21.8% |
| 每股收益（稀释后） | $-0.70 | $1.05 |
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PLUGUTL
| Q4 25 | $225.2M | $161.5M | ||
| Q3 25 | $177.1M | $101.1M | ||
| Q2 25 | $174.0M | $102.6M | ||
| Q1 25 | $133.7M | $170.8M | ||
| Q4 24 | $191.5M | $127.5M | ||
| Q3 24 | $173.7M | $92.9M | ||
| Q2 24 | $143.3M | $95.7M | ||
| Q1 24 | $120.3M | $178.7M |
净利润PLUGUTL
| Q4 25 | $-846.0M | $19.0M | ||
| Q3 25 | $-361.9M | $-300.0K | ||
| Q2 25 | $-227.1M | $4.0M | ||
| Q1 25 | $-196.7M | $27.5M | ||
| Q4 24 | $-1.3B | $15.6M | ||
| Q3 24 | $-211.2M | $0 | ||
| Q2 24 | $-262.3M | $4.3M | ||
| Q1 24 | $-295.8M | $27.2M |
毛利率PLUGUTL
| 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PLUGUTL
| Q4 25 | -338.9% | 21.5% | ||
| Q3 25 | -197.0% | 6.9% | ||
| Q2 25 | -101.7% | 13.0% | ||
| Q1 25 | -133.5% | 27.0% | ||
| Q4 24 | -678.7% | 22.1% | ||
| Q3 24 | -124.4% | 6.2% | ||
| Q2 24 | -170.7% | 13.0% | ||
| Q1 24 | -215.7% | 24.7% |
净利率PLUGUTL
| Q4 25 | -375.6% | 11.8% | ||
| Q3 25 | -204.4% | -0.3% | ||
| Q2 25 | -130.5% | 3.9% | ||
| Q1 25 | -147.1% | 16.1% | ||
| Q4 24 | -697.5% | 12.2% | ||
| Q3 24 | -121.5% | — | ||
| Q2 24 | -183.0% | 4.5% | ||
| Q1 24 | -245.9% | 15.2% |
每股收益（稀释后）PLUGUTL
| Q4 25 | $-0.70 | $1.05 | ||
| Q3 25 | $-0.31 | $-0.02 | ||
| Q2 25 | $-0.20 | $0.25 | ||
| Q1 25 | $-0.21 | $1.69 | ||
| Q4 24 | $-1.61 | $0.97 | ||
| Q3 24 | $-0.25 | $0.00 | ||
| Q2 24 | $-0.36 | $0.27 | ||
| Q1 24 | $-0.46 | $1.69 |
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 | $15.6M |
| 总债务越低越好 | — | $670.5M |
| 股东权益账面价值 | $978.1M | $609.6M |
| 总资产 | $2.6B | $2.1B |
| 负债/权益比越低杠杆越低 | — | 1.10× |
8季度趋势，按日历期对齐
现金及短期投资PLUGUTL
| Q4 25 | $368.5M | $15.6M | ||
| Q3 25 | $165.9M | $14.6M | ||
| Q2 25 | $140.7M | $8.5M | ||
| Q1 25 | $295.8M | $10.2M | ||
| Q4 24 | $205.7M | $6.3M | ||
| Q3 24 | $93.9M | $6.3M | ||
| Q2 24 | $62.4M | $2.8M | ||
| Q1 24 | $172.9M | $6.3M |
总债务PLUGUTL
| Q4 25 | — | $670.5M | ||
| Q3 25 | — | $670.5M | ||
| Q2 25 | — | $640.7M | ||
| Q1 25 | — | $642.1M | ||
| Q4 24 | — | $643.3M | ||
| Q3 24 | $3.9M | $643.3M | ||
| Q2 24 | $3.7M | $511.3M | ||
| Q1 24 | $3.8M | $512.8M |
股东权益PLUGUTL
| Q4 25 | $978.1M | $609.6M | ||
| Q3 25 | $1.4B | $597.2M | ||
| Q2 25 | $1.7B | $532.8M | ||
| Q1 25 | $1.9B | $534.1M | ||
| Q4 24 | $1.7B | $512.5M | ||
| Q3 24 | $3.0B | $502.4M | ||
| Q2 24 | $3.0B | $508.8M | ||
| Q1 24 | $2.9B | $510.8M |
总资产PLUGUTL
| Q4 25 | $2.6B | $2.1B | ||
| Q3 25 | $3.1B | $1.9B | ||
| Q2 25 | $3.4B | $1.9B | ||
| Q1 25 | $3.6B | $1.9B | ||
| Q4 24 | $3.6B | $1.8B | ||
| Q3 24 | $4.7B | $1.7B | ||
| Q2 24 | $4.8B | $1.7B | ||
| Q1 24 | $4.8B | $1.7B |
负债/权益比PLUGUTL
| Q4 25 | — | 1.10× | ||
| Q3 25 | — | 1.12× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | 0.00× | 1.28× | ||
| Q2 24 | 0.00× | 1.00× | ||
| Q1 24 | 0.00× | 1.00× |
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 | $21.4M |
| 自由现金流经营现金流 - 资本支出 | $-153.0M | $-36.3M |
| 自由现金流率自由现金流/营收 | -67.9% | -22.5% |
| 资本支出强度资本支出/营收 | 1.9% | 35.7% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | $-647.0M | $-53.8M |
8季度趋势，按日历期对齐
经营现金流PLUGUTL
| Q4 25 | $-148.6M | $21.4M | ||
| Q3 25 | $-89.8M | $15.6M | ||
| Q2 25 | $-191.8M | $42.2M | ||
| Q1 25 | $-105.6M | $52.1M | ||
| Q4 24 | $-131.2M | $23.3M | ||
| Q3 24 | $-174.9M | $26.1M | ||
| Q2 24 | $-254.7M | $49.9M | ||
| Q1 24 | $-167.7M | $26.6M |
自由现金流PLUGUTL
| Q4 25 | $-153.0M | $-36.3M | ||
| Q3 25 | $-117.5M | $-39.0M | ||
| Q2 25 | $-230.4M | $2.0M | ||
| Q1 25 | $-146.0M | $19.5M | ||
| Q4 24 | $-165.2M | $-32.3M | ||
| Q3 24 | $-234.2M | $-31.3M | ||
| Q2 24 | $-356.0M | $13.2M | ||
| Q1 24 | $-260.3M | $6.4M |
自由现金流率PLUGUTL
| Q4 25 | -67.9% | -22.5% | ||
| Q3 25 | -66.4% | -38.6% | ||
| Q2 25 | -132.5% | 1.9% | ||
| Q1 25 | -109.2% | 11.4% | ||
| Q4 24 | -86.3% | -25.3% | ||
| Q3 24 | -134.8% | -33.7% | ||
| Q2 24 | -248.4% | 13.8% | ||
| Q1 24 | -216.5% | 3.6% |
资本支出强度PLUGUTL
| Q4 25 | 1.9% | 35.7% | ||
| Q3 25 | 15.6% | 54.0% | ||
| Q2 25 | 22.2% | 39.2% | ||
| Q1 25 | 30.3% | 19.1% | ||
| Q4 24 | 17.7% | 43.6% | ||
| Q3 24 | 34.1% | 61.8% | ||
| Q2 24 | 70.7% | 38.3% | ||
| Q1 24 | 77.0% | 11.3% |
现金转化率PLUGUTL
| Q4 25 | — | 1.13× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 10.55× | ||
| Q1 25 | — | 1.89× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 11.60× | ||
| Q1 24 | — | 0.98× |
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% |
UTL
暂无分部数据
