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PLUG POWER INC（PLUG）与W. P. Carey Inc.（WPC）财务数据对比。点击上方公司名可切换其他公司
W. P. Carey Inc.的季度营收约是PLUG POWER INC的2.0倍（$444.5M vs $225.2M），W. P. Carey Inc.净利率更高（33.4% vs -375.6%，领先409.0%），PLUG POWER INC同比增速更快（17.6% vs 9.4%），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs 6.8%）
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。
W.P.凯里是一家房地产投资信托企业，主打投资以三净租赁模式租予单一租户的物业。公司注册地位于美国马里兰州，核心办公地点设在纽约市，深耕商业地产投资领域，拥有成熟的运营经验与优质的项目资源。
PLUG vs WPC — 直观对比
营收规模更大
WPC
是对方的2.0倍
$225.2M
营收增速更快
PLUG
高出8.2%
9.4%
净利率更高
WPC
高出409.0%
-375.6%
两年增速更快
PLUG
近两年复合增速
6.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.2M | $444.5M |
| 净利润 | $-846.0M | $148.3M |
| 毛利率 | 2.4% | — |
| 营业利润率 | -338.9% | 34.5% |
| 净利率 | -375.6% | 33.4% |
| 营收同比 | 17.6% | 9.4% |
| 净利润同比 | 36.7% | 215.4% |
| 每股收益（稀释后） | $-0.70 | — |
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PLUGWPC
| Q4 25 | $225.2M | $444.5M | ||
| Q3 25 | $177.1M | $431.3M | ||
| Q2 25 | $174.0M | $430.8M | ||
| Q1 25 | $133.7M | $409.9M | ||
| Q4 24 | $191.5M | $406.2M | ||
| Q3 24 | $173.7M | $397.4M | ||
| Q2 24 | $143.3M | $389.7M | ||
| Q1 24 | $120.3M | $389.8M |
净利润PLUGWPC
| Q4 25 | $-846.0M | $148.3M | ||
| Q3 25 | $-361.9M | $141.0M | ||
| Q2 25 | $-227.1M | $51.2M | ||
| Q1 25 | $-196.7M | $125.8M | ||
| Q4 24 | $-1.3B | $47.0M | ||
| Q3 24 | $-211.2M | $111.7M | ||
| Q2 24 | $-262.3M | $142.9M | ||
| Q1 24 | $-295.8M | $159.2M |
毛利率PLUGWPC
| 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PLUGWPC
| Q4 25 | -338.9% | 34.5% | ||
| Q3 25 | -197.0% | 34.7% | ||
| Q2 25 | -101.7% | 15.0% | ||
| Q1 25 | -133.5% | 33.5% | ||
| Q4 24 | -678.7% | 13.5% | ||
| Q3 24 | -124.4% | 30.4% | ||
| Q2 24 | -170.7% | 38.3% | ||
| Q1 24 | -215.7% | 43.0% |
净利率PLUGWPC
| Q4 25 | -375.6% | 33.4% | ||
| Q3 25 | -204.4% | 32.7% | ||
| Q2 25 | -130.5% | 11.9% | ||
| Q1 25 | -147.1% | 30.7% | ||
| Q4 24 | -697.5% | 11.6% | ||
| Q3 24 | -121.5% | 28.1% | ||
| Q2 24 | -183.0% | 36.7% | ||
| Q1 24 | -245.9% | 40.8% |
每股收益（稀释后）PLUGWPC
| Q4 25 | $-0.70 | — | ||
| Q3 25 | $-0.31 | — | ||
| Q2 25 | $-0.20 | — | ||
| Q1 25 | $-0.21 | — | ||
| Q4 24 | $-1.61 | — | ||
| Q3 24 | $-0.25 | — | ||
| Q2 24 | $-0.36 | — | ||
| Q1 24 | $-0.46 | — |
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 | $155.3M |
| 总债务越低越好 | — | $8.7B |
| 股东权益账面价值 | $978.1M | $8.1B |
| 总资产 | $2.6B | $18.0B |
| 负债/权益比越低杠杆越低 | — | 1.07× |
8季度趋势，按日历期对齐
现金及短期投资PLUGWPC
| Q4 25 | $368.5M | $155.3M | ||
| Q3 25 | $165.9M | $249.0M | ||
| Q2 25 | $140.7M | $244.8M | ||
| Q1 25 | $295.8M | $187.8M | ||
| Q4 24 | $205.7M | $640.4M | ||
| Q3 24 | $93.9M | $818.2M | ||
| Q2 24 | $62.4M | $1.1B | ||
| Q1 24 | $172.9M | $777.0M |
总债务PLUGWPC
| Q4 25 | — | $8.7B | ||
| Q3 25 | — | $8.7B | ||
| Q2 25 | — | $8.6B | ||
| Q1 25 | — | $7.9B | ||
| Q4 24 | — | $8.0B | ||
| Q3 24 | $3.9M | $8.0B | ||
| Q2 24 | $3.7M | $8.1B | ||
| Q1 24 | $3.8M | $7.9B |
股东权益PLUGWPC
| Q4 25 | $978.1M | $8.1B | ||
| Q3 25 | $1.4B | $8.2B | ||
| Q2 25 | $1.7B | $8.2B | ||
| Q1 25 | $1.9B | $8.4B | ||
| Q4 24 | $1.7B | $8.4B | ||
| Q3 24 | $3.0B | $8.6B | ||
| Q2 24 | $3.0B | $8.6B | ||
| Q1 24 | $2.9B | $8.7B |
总资产PLUGWPC
| Q4 25 | $2.6B | $18.0B | ||
| Q3 25 | $3.1B | $18.0B | ||
| Q2 25 | $3.4B | $18.0B | ||
| Q1 25 | $3.6B | $17.3B | ||
| Q4 24 | $3.6B | $17.5B | ||
| Q3 24 | $4.7B | $17.6B | ||
| Q2 24 | $4.8B | $17.8B | ||
| Q1 24 | $4.8B | $17.6B |
负债/权益比PLUGWPC
| Q4 25 | — | 1.07× | ||
| Q3 25 | — | 1.06× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 0.94× | ||
| Q4 24 | — | 0.95× | ||
| Q3 24 | 0.00× | 0.93× | ||
| Q2 24 | 0.00× | 0.94× | ||
| Q1 24 | 0.00× | 0.91× |
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 | $304.6M |
| 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 | — | 2.05× |
| 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PLUGWPC
| Q4 25 | $-148.6M | $304.6M | ||
| Q3 25 | $-89.8M | $300.5M | ||
| Q2 25 | $-191.8M | $404.0M | ||
| Q1 25 | $-105.6M | $273.2M | ||
| Q4 24 | $-131.2M | $296.3M | ||
| Q3 24 | $-174.9M | $280.2M | ||
| Q2 24 | $-254.7M | $221.0M | ||
| Q1 24 | $-167.7M | $1.0B |
自由现金流PLUGWPC
| 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PLUGWPC
| 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PLUGWPC
| 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PLUGWPC
| Q4 25 | — | 2.05× | ||
| Q3 25 | — | 2.13× | ||
| Q2 25 | — | 7.89× | ||
| Q1 25 | — | 2.17× | ||
| Q4 24 | — | 6.30× | ||
| Q3 24 | — | 2.51× | ||
| Q2 24 | — | 1.55× | ||
| Q1 24 | — | 6.50× |
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% |
WPC
暂无分部数据
