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PLUG POWER INC（PLUG）与VERRA MOBILITY Corp（VRRM）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VERRA MOBILITY Corp的1.0倍（$225.2M vs $223.6M），VERRA MOBILITY Corp净利率更高（12.0% vs -375.6%，领先387.6%），PLUG POWER INC同比增速更快（17.6% vs 0.1%），VERRA MOBILITY Corp自由现金流更多（$9.6M vs $-153.0M），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs 0.3%）
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。
Verra Mobility Corp是全球领先的智慧出行技术解决方案提供商，业务涵盖收费管理、停车与交通合规执法、车联网服务及车队管理工具，服务对象包括政府交通部门、租车运营商、商业车队所有者及汽车行业合作伙伴，覆盖北美、欧洲及亚太市场。
PLUG vs VRRM — 直观对比
营收规模更大
PLUG
是对方的1.0倍
$223.6M
营收增速更快
PLUG
高出17.5%
0.1%
净利率更高
VRRM
高出387.6%
-375.6%
自由现金流更多
VRRM
多$162.7M
$-153.0M
两年增速更快
PLUG
近两年复合增速
0.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $225.2M | $223.6M |
| 净利润 | $-846.0M | $26.7M |
| 毛利率 | 2.4% | — |
| 营业利润率 | -338.9% | 23.2% |
| 净利率 | -375.6% | 12.0% |
| 营收同比 | 17.6% | 0.1% |
| 净利润同比 | 36.7% | -17.3% |
| 每股收益（稀释后） | $-0.70 | $0.17 |
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PLUGVRRM
| Q1 26 | — | $223.6M | ||
| Q4 25 | $225.2M | $257.9M | ||
| Q3 25 | $177.1M | $261.9M | ||
| Q2 25 | $174.0M | $236.0M | ||
| Q1 25 | $133.7M | $223.3M | ||
| Q4 24 | $191.5M | $221.5M | ||
| Q3 24 | $173.7M | $225.6M | ||
| Q2 24 | $143.3M | $222.4M |
净利润PLUGVRRM
| Q1 26 | — | $26.7M | ||
| Q4 25 | $-846.0M | $18.9M | ||
| Q3 25 | $-361.9M | $46.8M | ||
| Q2 25 | $-227.1M | $38.6M | ||
| Q1 25 | $-196.7M | $32.3M | ||
| Q4 24 | $-1.3B | $-66.7M | ||
| Q3 24 | $-211.2M | $34.7M | ||
| Q2 24 | $-262.3M | $34.2M |
毛利率PLUGVRRM
| Q1 26 | — | — | ||
| 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% | — |
营业利润率PLUGVRRM
| Q1 26 | — | 23.2% | ||
| Q4 25 | -338.9% | 16.7% | ||
| Q3 25 | -197.0% | 28.6% | ||
| Q2 25 | -101.7% | 26.8% | ||
| Q1 25 | -133.5% | 25.7% | ||
| Q4 24 | -678.7% | -19.6% | ||
| Q3 24 | -124.4% | 28.3% | ||
| Q2 24 | -170.7% | 27.5% |
净利率PLUGVRRM
| Q1 26 | — | 12.0% | ||
| Q4 25 | -375.6% | 7.3% | ||
| Q3 25 | -204.4% | 17.9% | ||
| Q2 25 | -130.5% | 16.3% | ||
| Q1 25 | -147.1% | 14.5% | ||
| Q4 24 | -697.5% | -30.1% | ||
| Q3 24 | -121.5% | 15.4% | ||
| Q2 24 | -183.0% | 15.4% |
每股收益（稀释后）PLUGVRRM
| Q1 26 | — | $0.17 | ||
| Q4 25 | $-0.70 | $0.12 | ||
| Q3 25 | $-0.31 | $0.29 | ||
| Q2 25 | $-0.20 | $0.24 | ||
| Q1 25 | $-0.21 | $0.20 | ||
| Q4 24 | $-1.61 | $-0.39 | ||
| Q3 24 | $-0.25 | $0.21 | ||
| Q2 24 | $-0.36 | $0.20 |
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 | $46.9M |
| 总债务越低越好 | — | $34.1M |
| 股东权益账面价值 | $978.1M | $272.0M |
| 总资产 | $2.6B | $1.7B |
| 负债/权益比越低杠杆越低 | — | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资PLUGVRRM
| Q1 26 | — | $46.9M | ||
| Q4 25 | $368.5M | $65.3M | ||
| Q3 25 | $165.9M | $196.1M | ||
| Q2 25 | $140.7M | $147.7M | ||
| Q1 25 | $295.8M | $108.5M | ||
| Q4 24 | $205.7M | $77.6M | ||
| Q3 24 | $93.9M | $206.1M | ||
| Q2 24 | $62.4M | $122.0M |
总债务PLUGVRRM
| Q1 26 | — | $34.1M | ||
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | $3.9M | $1.0B | ||
| Q2 24 | $3.7M | $1.0B |
股东权益PLUGVRRM
| Q1 26 | — | $272.0M | ||
| Q4 25 | $978.1M | $293.0M | ||
| Q3 25 | $1.4B | $403.1M | ||
| Q2 25 | $1.7B | $352.1M | ||
| Q1 25 | $1.9B | $299.6M | ||
| Q4 24 | $1.7B | $265.1M | ||
| Q3 24 | $3.0B | $486.5M | ||
| Q2 24 | $3.0B | $438.6M |
总资产PLUGVRRM
| Q1 26 | — | $1.7B | ||
| Q4 25 | $2.6B | $1.6B | ||
| Q3 25 | $3.1B | $1.8B | ||
| Q2 25 | $3.4B | $1.7B | ||
| Q1 25 | $3.6B | $1.6B | ||
| Q4 24 | $3.6B | $1.6B | ||
| Q3 24 | $4.7B | $1.9B | ||
| Q2 24 | $4.8B | $1.8B |
负债/权益比PLUGVRRM
| Q1 26 | — | 0.13× | ||
| Q4 25 | — | 3.51× | ||
| Q3 25 | — | 2.55× | ||
| Q2 25 | — | 2.93× | ||
| Q1 25 | — | 3.45× | ||
| Q4 24 | — | 3.90× | ||
| Q3 24 | 0.00× | 2.13× | ||
| Q2 24 | 0.00× | 2.36× |
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 | $40.8M |
| 自由现金流经营现金流 - 资本支出 | $-153.0M | $9.6M |
| 自由现金流率自由现金流/营收 | -67.9% | 4.3% |
| 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 | — | 1.53× |
| 过去12个月自由现金流最近4个季度 | $-647.0M | $104.6M |
8季度趋势，按日历期对齐
经营现金流PLUGVRRM
| Q1 26 | — | $40.8M | ||
| Q4 25 | $-148.6M | $40.0M | ||
| Q3 25 | $-89.8M | $77.7M | ||
| Q2 25 | $-191.8M | $75.1M | ||
| Q1 25 | $-105.6M | $63.0M | ||
| Q4 24 | $-131.2M | $40.5M | ||
| Q3 24 | $-174.9M | $108.8M | ||
| Q2 24 | $-254.7M | $40.0M |
自由现金流PLUGVRRM
| Q1 26 | — | $9.6M | ||
| Q4 25 | $-153.0M | $5.7M | ||
| Q3 25 | $-117.5M | $49.0M | ||
| Q2 25 | $-230.4M | $40.3M | ||
| Q1 25 | $-146.0M | $41.7M | ||
| Q4 24 | $-165.2M | $21.6M | ||
| Q3 24 | $-234.2M | $85.1M | ||
| Q2 24 | $-356.0M | $26.0M |
自由现金流率PLUGVRRM
| Q1 26 | — | 4.3% | ||
| Q4 25 | -67.9% | 2.2% | ||
| Q3 25 | -66.4% | 18.7% | ||
| Q2 25 | -132.5% | 17.1% | ||
| Q1 25 | -109.2% | 18.7% | ||
| Q4 24 | -86.3% | 9.8% | ||
| Q3 24 | -134.8% | 37.7% | ||
| Q2 24 | -248.4% | 11.7% |
资本支出强度PLUGVRRM
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 13.3% | ||
| Q3 25 | 15.6% | 11.0% | ||
| Q2 25 | 22.2% | 14.8% | ||
| Q1 25 | 30.3% | 9.5% | ||
| Q4 24 | 17.7% | 8.5% | ||
| Q3 24 | 34.1% | 10.5% | ||
| Q2 24 | 70.7% | 6.3% |
现金转化率PLUGVRRM
| Q1 26 | — | 1.53× | ||
| Q4 25 | — | 2.12× | ||
| Q3 25 | — | 1.66× | ||
| Q2 25 | — | 1.95× | ||
| Q1 25 | — | 1.95× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.13× | ||
| Q2 24 | — | 1.17× |
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% |
VRRM
| Government Solutions segment generated total | $105.3M | 47% |
| Commercial Services segment generated total | $97.8M | 44% |
| Parking Solutions segment generated total | $20.4M | 9% |
