vs
PLUG POWER INC（PLUG）与VIRTUS INVESTMENT PARTNERS, INC.（VRTS）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VIRTUS INVESTMENT PARTNERS, INC.的1.1倍（$225.2M vs $199.5M），VIRTUS INVESTMENT PARTNERS, INC.净利率更高（3.6% vs -375.6%，领先379.2%），PLUG POWER INC同比增速更快（17.6% vs -4.1%），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs -5.7%）
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。
Virtus Investment Partners是一家美国多管理人资产管理企业，旗下汇集多家具备独立投资流程与自有品牌的关联投资管理人，同时也提供非关联子投资顾问服务，为客户提供多元化的资产管理解决方案。
PLUG vs VRTS — 直观对比
营收规模更大
PLUG
是对方的1.1倍
$199.5M
营收增速更快
PLUG
高出21.7%
-4.1%
净利率更高
VRTS
高出379.2%
-375.6%
两年增速更快
PLUG
近两年复合增速
-5.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $225.2M | $199.5M |
| 净利润 | $-846.0M | $7.1M |
| 毛利率 | 2.4% | — |
| 营业利润率 | -338.9% | 7.7% |
| 净利率 | -375.6% | 3.6% |
| 营收同比 | 17.6% | -4.1% |
| 净利润同比 | 36.7% | -78.1% |
| 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PLUGVRTS
| Q1 26 | — | $199.5M | ||
| Q4 25 | $225.2M | $208.0M | ||
| Q3 25 | $177.1M | $216.4M | ||
| Q2 25 | $174.0M | $210.5M | ||
| Q1 25 | $133.7M | $217.9M | ||
| Q4 24 | $191.5M | $233.5M | ||
| Q3 24 | $173.7M | $227.0M | ||
| Q2 24 | $143.3M | $224.4M |
净利润PLUGVRTS
| Q1 26 | — | $7.1M | ||
| Q4 25 | $-846.0M | $33.9M | ||
| Q3 25 | $-361.9M | $31.3M | ||
| Q2 25 | $-227.1M | $42.7M | ||
| Q1 25 | $-196.7M | $28.1M | ||
| Q4 24 | $-1.3B | $39.5M | ||
| Q3 24 | $-211.2M | $49.1M | ||
| Q2 24 | $-262.3M | $26.0M |
毛利率PLUGVRTS
| 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PLUGVRTS
| Q1 26 | — | 7.7% | ||
| Q4 25 | -338.9% | 19.1% | ||
| Q3 25 | -197.0% | 21.7% | ||
| Q2 25 | -101.7% | 21.5% | ||
| Q1 25 | -133.5% | 16.8% | ||
| Q4 24 | -678.7% | 21.7% | ||
| Q3 24 | -124.4% | 24.3% | ||
| Q2 24 | -170.7% | 19.7% |
净利率PLUGVRTS
| Q1 26 | — | 3.6% | ||
| Q4 25 | -375.6% | 16.3% | ||
| Q3 25 | -204.4% | 14.5% | ||
| Q2 25 | -130.5% | 20.3% | ||
| Q1 25 | -147.1% | 12.9% | ||
| Q4 24 | -697.5% | 16.9% | ||
| Q3 24 | -121.5% | 21.6% | ||
| Q2 24 | -183.0% | 11.6% |
每股收益（稀释后）PLUGVRTS
| Q1 26 | — | $1.05 | ||
| Q4 25 | $-0.70 | $5.15 | ||
| Q3 25 | $-0.31 | $4.65 | ||
| Q2 25 | $-0.20 | $6.12 | ||
| Q1 25 | $-0.21 | $4.05 | ||
| Q4 24 | $-1.61 | $4.65 | ||
| Q3 24 | $-0.25 | $5.71 | ||
| Q2 24 | $-0.36 | $2.43 |
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 | $136.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $978.1M | $93.6B |
| 总资产 | $2.6B | — |
| 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PLUGVRTS
| Q1 26 | — | $136.6M | ||
| 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 | — |
总债务PLUGVRTS
| Q1 26 | — | — | ||
| Q4 25 | — | $390.0M | ||
| Q3 25 | — | $390.6M | ||
| Q2 25 | — | $231.3M | ||
| Q1 25 | — | $231.7M | ||
| Q4 24 | — | $232.1M | ||
| Q3 24 | $3.9M | $237.5M | ||
| Q2 24 | $3.7M | $247.6M |
股东权益PLUGVRTS
| Q1 26 | — | $93.6B | ||
| Q4 25 | $978.1M | $934.0M | ||
| Q3 25 | $1.4B | $918.7M | ||
| Q2 25 | $1.7B | $896.4M | ||
| Q1 25 | $1.9B | $893.7M | ||
| Q4 24 | $1.7B | $897.5M | ||
| Q3 24 | $3.0B | $889.0M | ||
| Q2 24 | $3.0B | $868.7M |
总资产PLUGVRTS
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $4.3B | ||
| Q3 25 | $3.1B | $3.9B | ||
| Q2 25 | $3.4B | $3.7B | ||
| Q1 25 | $3.6B | $3.7B | ||
| Q4 24 | $3.6B | $4.0B | ||
| Q3 24 | $4.7B | $3.6B | ||
| Q2 24 | $4.8B | $3.6B |
负债/权益比PLUGVRTS
| Q1 26 | — | — | ||
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | 0.00× | 0.27× | ||
| Q2 24 | 0.00× | 0.29× |
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 | — |
| 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 | — | — |
| 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PLUGVRTS
| Q1 26 | — | — | ||
| Q4 25 | $-148.6M | $-67.2M | ||
| Q3 25 | $-89.8M | $108.3M | ||
| Q2 25 | $-191.8M | $75.8M | ||
| Q1 25 | $-105.6M | $-3.8M | ||
| Q4 24 | $-131.2M | $1.8M | ||
| Q3 24 | $-174.9M | $69.1M | ||
| Q2 24 | $-254.7M | $70.0M |
自由现金流PLUGVRTS
| Q1 26 | — | — | ||
| Q4 25 | $-153.0M | $-74.1M | ||
| Q3 25 | $-117.5M | $106.9M | ||
| Q2 25 | $-230.4M | $74.2M | ||
| Q1 25 | $-146.0M | $-6.8M | ||
| Q4 24 | $-165.2M | $-3.8M | ||
| Q3 24 | $-234.2M | $68.7M | ||
| Q2 24 | $-356.0M | $68.6M |
自由现金流率PLUGVRTS
| Q1 26 | — | — | ||
| Q4 25 | -67.9% | -35.6% | ||
| Q3 25 | -66.4% | 49.4% | ||
| Q2 25 | -132.5% | 35.2% | ||
| Q1 25 | -109.2% | -3.1% | ||
| Q4 24 | -86.3% | -1.6% | ||
| Q3 24 | -134.8% | 30.3% | ||
| Q2 24 | -248.4% | 30.6% |
资本支出强度PLUGVRTS
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 3.3% | ||
| Q3 25 | 15.6% | 0.7% | ||
| Q2 25 | 22.2% | 0.7% | ||
| Q1 25 | 30.3% | 1.4% | ||
| Q4 24 | 17.7% | 2.4% | ||
| Q3 24 | 34.1% | 0.2% | ||
| Q2 24 | 70.7% | 0.6% |
现金转化率PLUGVRTS
| Q1 26 | — | — | ||
| Q4 25 | — | -1.99× | ||
| Q3 25 | — | 3.45× | ||
| Q2 25 | — | 1.77× | ||
| Q1 25 | — | -0.13× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 2.69× |
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% |
VRTS
| Investment management fees | $169.1M | 85% |
| Administration and shareholder service fees | $17.3M | 9% |
| Distribution and service fees | $11.6M | 6% |
