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滨特尔（PNR）与Pinnacle West Capital（PNW）财务数据对比。点击上方公司名可切换其他公司
Pinnacle West Capital的季度营收约是滨特尔的1.1倍（$1.1B vs $1.0B），滨特尔净利率更高（16.6% vs 1.6%，领先15.1%），Pinnacle West Capital同比增速更快（3.0% vs 2.6%），滨特尔自由现金流更多（$-85.7M vs $-192.7M），过去两年Pinnacle West Capital的营收复合增速更高（8.9% vs -2.9%）
滨特尔（股票代码PNR）是知名水处理企业，注册地位于爱尔兰，税务居民身份归属英国，美国区总部设于明尼苏达州金谷市。品牌起源于美国，2017年数据显示其65%的营收来自美国和加拿大，2014年集团完成架构重组，注册地由瑞士变更为爱尔兰。
Pinnacle West Capital是美国公用事业控股企业，旗下拥有亚利桑那州规模最大的公用事业公司亚利桑那公共服务（APS）。公司于纽约证券交易所上市，是标普500指数成分股，运营受亚利桑那州公司委员会监管。
PNR vs PNW — 直观对比
营收规模更大
PNW
是对方的1.1倍
$1.0B
营收增速更快
PNW
高出0.4%
2.6%
净利率更高
PNR
高出15.1%
1.6%
自由现金流更多
PNR
多$107.0M
$-192.7M
两年增速更快
PNW
近两年复合增速
-2.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.1B |
| 净利润 | $172.4M | $17.6M |
| 毛利率 | 41.8% | — |
| 营业利润率 | 20.3% | 10.7% |
| 净利率 | 16.6% | 1.6% |
| 营收同比 | 2.6% | 3.0% |
| 净利润同比 | 11.3% | 798.0% |
| 每股收益（稀释后） | — | $0.12 |
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PNRPNW
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.0B | $1.1B | ||
| Q3 25 | $1.0B | $1.8B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $1.0B | $1.0B | ||
| Q4 24 | $972.9M | $1.1B | ||
| Q3 24 | $993.4M | $1.8B | ||
| Q2 24 | $1.1B | $1.3B |
净利润PNRPNW
| Q1 26 | $172.4M | — | ||
| Q4 25 | $166.1M | $17.6M | ||
| Q3 25 | $184.3M | $417.5M | ||
| Q2 25 | $148.5M | $196.9M | ||
| Q1 25 | $154.9M | $-338.0K | ||
| Q4 24 | $166.4M | $-2.5M | ||
| Q3 24 | $139.6M | $399.3M | ||
| Q2 24 | $186.1M | $208.1M |
毛利率PNRPNW
| Q1 26 | 41.8% | — | ||
| Q4 25 | 40.4% | — | ||
| Q3 25 | 41.0% | — | ||
| Q2 25 | 40.7% | — | ||
| Q1 25 | 39.9% | — | ||
| Q4 24 | 38.8% | — | ||
| Q3 24 | 39.6% | — | ||
| Q2 24 | 39.8% | — |
营业利润率PNRPNW
| Q1 26 | 20.3% | — | ||
| Q4 25 | 20.1% | 10.7% | ||
| Q3 25 | 22.7% | 32.0% | ||
| Q2 25 | 19.4% | 22.6% | ||
| Q1 25 | 20.1% | 5.5% | ||
| Q4 24 | 20.1% | 7.7% | ||
| Q3 24 | 18.1% | 30.9% | ||
| Q2 24 | 22.6% | 24.0% |
净利率PNRPNW
| Q1 26 | 16.6% | — | ||
| Q4 25 | 16.3% | 1.6% | ||
| Q3 25 | 18.0% | 22.9% | ||
| Q2 25 | 13.2% | 14.5% | ||
| Q1 25 | 15.3% | -0.0% | ||
| Q4 24 | 17.1% | -0.2% | ||
| Q3 24 | 14.1% | 22.6% | ||
| Q2 24 | 16.9% | 15.9% |
每股收益（稀释后）PNRPNW
| Q1 26 | — | — | ||
| Q4 25 | $1.01 | $0.12 | ||
| Q3 25 | $1.12 | $3.39 | ||
| Q2 25 | $0.90 | $1.58 | ||
| Q1 25 | $0.93 | $-0.04 | ||
| Q4 24 | $0.99 | $-0.04 | ||
| Q3 24 | $0.84 | $3.37 | ||
| Q2 24 | $1.11 | $1.76 |
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 | $67.7M | $6.6M |
| 总债务越低越好 | $1.9B | — |
| 股东权益账面价值 | $3.8B | $7.0B |
| 总资产 | $7.1B | $30.0B |
| 负债/权益比越低杠杆越低 | 0.51× | — |
8季度趋势，按日历期对齐
现金及短期投资PNRPNW
| Q1 26 | $67.7M | — | ||
| Q4 25 | — | $6.6M | ||
| Q3 25 | $128.4M | $30.9M | ||
| Q2 25 | $143.0M | $18.8M | ||
| Q1 25 | $140.6M | $10.0M | ||
| Q4 24 | $118.7M | $3.8M | ||
| Q3 24 | $218.1M | $49.2M | ||
| Q2 24 | $214.3M | $4.0M |
总债务PNRPNW
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $1.8B | — |
股东权益PNRPNW
| Q1 26 | $3.8B | — | ||
| Q4 25 | $3.9B | $7.0B | ||
| Q3 25 | $3.8B | $7.2B | ||
| Q2 25 | $3.7B | $6.7B | ||
| Q1 25 | $3.6B | $6.7B | ||
| Q4 24 | $3.6B | $6.8B | ||
| Q3 24 | $3.5B | $6.6B | ||
| Q2 24 | $3.4B | $6.2B |
总资产PNRPNW
| Q1 26 | $7.1B | — | ||
| Q4 25 | $6.9B | $30.0B | ||
| Q3 25 | $6.8B | $29.9B | ||
| Q2 25 | $6.5B | $29.2B | ||
| Q1 25 | $6.7B | $27.2B | ||
| Q4 24 | $6.4B | $26.1B | ||
| Q3 24 | $6.5B | $26.3B | ||
| Q2 24 | $6.5B | $25.7B |
负债/权益比PNRPNW
| Q1 26 | 0.51× | — | ||
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.42× | — | ||
| Q2 25 | 0.38× | — | ||
| Q1 25 | 0.51× | — | ||
| Q4 24 | 0.46× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.51× | — |
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 | — | $476.8M |
| 自由现金流经营现金流 - 资本支出 | $-85.7M | $-192.7M |
| 自由现金流率自由现金流/营收 | -8.3% | -17.1% |
| 资本支出强度资本支出/营收 | 1.8% | 59.3% |
| 现金转化率经营现金流/净利润 | — | 27.09× |
| 过去12个月自由现金流最近4个季度 | $716.0M | $-819.5M |
8季度趋势，按日历期对齐
经营现金流PNRPNW
| Q1 26 | — | — | ||
| Q4 25 | $50.8M | $476.8M | ||
| Q3 25 | $196.3M | $665.0M | ||
| Q2 25 | $606.6M | $261.4M | ||
| Q1 25 | $-38.9M | $401.9M | ||
| Q4 24 | $86.5M | $439.5M | ||
| Q3 24 | $248.6M | $633.2M | ||
| Q2 24 | $539.2M | $189.8M |
自由现金流PNRPNW
| Q1 26 | $-85.7M | — | ||
| Q4 25 | $27.1M | $-192.7M | ||
| Q3 25 | $178.9M | $42.0M | ||
| Q2 25 | $595.7M | $-448.1M | ||
| Q1 25 | $-55.7M | $-220.7M | ||
| Q4 24 | $63.8M | $-92.1M | ||
| Q3 24 | $233.2M | $-32.7M | ||
| Q2 24 | $522.2M | $-344.2M |
自由现金流率PNRPNW
| Q1 26 | -8.3% | — | ||
| Q4 25 | 2.7% | -17.1% | ||
| Q3 25 | 17.5% | 2.3% | ||
| Q2 25 | 53.0% | -33.0% | ||
| Q1 25 | -5.5% | -21.4% | ||
| Q4 24 | 6.6% | -8.4% | ||
| Q3 24 | 23.5% | -1.8% | ||
| Q2 24 | 47.5% | -26.3% |
资本支出强度PNRPNW
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.3% | 59.3% | ||
| Q3 25 | 1.7% | 34.2% | ||
| Q2 25 | 1.0% | 52.2% | ||
| Q1 25 | 1.7% | 60.3% | ||
| Q4 24 | 2.3% | 48.5% | ||
| Q3 24 | 1.6% | 37.6% | ||
| Q2 24 | 1.5% | 40.8% |
现金转化率PNRPNW
| Q1 26 | — | — | ||
| Q4 25 | 0.31× | 27.09× | ||
| Q3 25 | 1.07× | 1.59× | ||
| Q2 25 | 4.08× | 1.33× | ||
| Q1 25 | -0.25× | — | ||
| Q4 24 | 0.52× | — | ||
| Q3 24 | 1.78× | 1.59× | ||
| Q2 24 | 2.90× | 0.91× |
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
PNR
| Water Solutions | $391.0M | 38% |
| Pool | $387.1M | 37% |
| Flow | $258.1M | 25% |
PNW
| Electricand Transmission Service | $1.1B | 100% |
| Other Services | $4.4M | 0% |
