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Pinnacle West Capital（PNW）与Reddit, Inc.（RDDT）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Reddit, Inc.的1.6倍（$1.1B vs $725.6M），Reddit, Inc.净利率更高（34.7% vs 1.6%，领先33.1%），Reddit, Inc.同比增速更快（69.7% vs 3.0%），Reddit, Inc.自由现金流更多（$263.6M vs $-192.7M），过去两年Reddit, Inc.的营收复合增速更高（72.8% vs 8.9%）
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。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
PNW vs RDDT — 直观对比
营收规模更大
PNW
是对方的1.6倍
$725.6M
营收增速更快
RDDT
高出66.7%
3.0%
净利率更高
RDDT
高出33.1%
1.6%
自由现金流更多
RDDT
多$456.4M
$-192.7M
两年增速更快
RDDT
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $725.6M |
| 净利润 | $17.6M | $251.6M |
| 毛利率 | — | 91.9% |
| 营业利润率 | 10.7% | 31.9% |
| 净利率 | 1.6% | 34.7% |
| 营收同比 | 3.0% | 69.7% |
| 净利润同比 | 798.0% | 254.2% |
| 每股收益（稀释后） | $0.12 | $1.24 |
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PNWRDDT
| Q4 25 | $1.1B | $725.6M | ||
| Q3 25 | $1.8B | $584.9M | ||
| Q2 25 | $1.4B | $499.6M | ||
| Q1 25 | $1.0B | $392.4M | ||
| Q4 24 | $1.1B | $427.7M | ||
| Q3 24 | $1.8B | $348.4M | ||
| Q2 24 | $1.3B | $281.2M | ||
| Q1 24 | $951.7M | $243.0M |
净利润PNWRDDT
| Q4 25 | $17.6M | $251.6M | ||
| Q3 25 | $417.5M | $162.7M | ||
| Q2 25 | $196.9M | $89.3M | ||
| Q1 25 | $-338.0K | $26.2M | ||
| Q4 24 | $-2.5M | $71.0M | ||
| Q3 24 | $399.3M | $29.9M | ||
| Q2 24 | $208.1M | $-10.1M | ||
| Q1 24 | $21.2M | $-575.1M |
毛利率PNWRDDT
| Q4 25 | — | 91.9% | ||
| Q3 25 | — | 91.0% | ||
| Q2 25 | — | 90.8% | ||
| Q1 25 | — | 90.5% | ||
| Q4 24 | — | 92.6% | ||
| Q3 24 | — | 90.1% | ||
| Q2 24 | — | 89.5% | ||
| Q1 24 | — | 88.6% |
营业利润率PNWRDDT
| Q4 25 | 10.7% | 31.9% | ||
| Q3 25 | 32.0% | 23.7% | ||
| Q2 25 | 22.6% | 13.6% | ||
| Q1 25 | 5.5% | 1.0% | ||
| Q4 24 | 7.7% | 12.4% | ||
| Q3 24 | 30.9% | 2.0% | ||
| Q2 24 | 24.0% | -11.0% | ||
| Q1 24 | 7.0% | -242.5% |
净利率PNWRDDT
| Q4 25 | 1.6% | 34.7% | ||
| Q3 25 | 22.9% | 27.8% | ||
| Q2 25 | 14.5% | 17.9% | ||
| Q1 25 | -0.0% | 6.7% | ||
| Q4 24 | -0.2% | 16.6% | ||
| Q3 24 | 22.6% | 8.6% | ||
| Q2 24 | 15.9% | -3.6% | ||
| Q1 24 | 2.2% | -236.7% |
每股收益（稀释后）PNWRDDT
| Q4 25 | $0.12 | $1.24 | ||
| Q3 25 | $3.39 | $0.80 | ||
| Q2 25 | $1.58 | $0.45 | ||
| Q1 25 | $-0.04 | $0.13 | ||
| Q4 24 | $-0.04 | $4.76 | ||
| Q3 24 | $3.37 | $0.16 | ||
| Q2 24 | $1.76 | $-0.06 | ||
| Q1 24 | $0.15 | $-8.19 |
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 | $6.6M | $953.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.0B | $2.9B |
| 总资产 | $30.0B | $3.2B |
| 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PNWRDDT
| Q4 25 | $6.6M | $953.6M | ||
| Q3 25 | $30.9M | $911.7M | ||
| Q2 25 | $18.8M | $734.1M | ||
| Q1 25 | $10.0M | $635.7M | ||
| Q4 24 | $3.8M | $562.1M | ||
| Q3 24 | $49.2M | $515.9M | ||
| Q2 24 | $4.0M | $468.0M | ||
| Q1 24 | $9.6M | $968.5M |
股东权益PNWRDDT
| Q4 25 | $7.0B | $2.9B | ||
| Q3 25 | $7.2B | $2.6B | ||
| Q2 25 | $6.7B | $2.4B | ||
| Q1 25 | $6.7B | $2.2B | ||
| Q4 24 | $6.8B | $2.1B | ||
| Q3 24 | $6.6B | $2.0B | ||
| Q2 24 | $6.2B | $1.9B | ||
| Q1 24 | $6.2B | $1.8B |
总资产PNWRDDT
| Q4 25 | $30.0B | $3.2B | ||
| Q3 25 | $29.9B | $2.9B | ||
| Q2 25 | $29.2B | $2.6B | ||
| Q1 25 | $27.2B | $2.4B | ||
| Q4 24 | $26.1B | $2.3B | ||
| Q3 24 | $26.3B | $2.2B | ||
| Q2 24 | $25.7B | $2.1B | ||
| Q1 24 | $24.8B | $2.0B |
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 | $266.8M |
| 自由现金流经营现金流 - 资本支出 | $-192.7M | $263.6M |
| 自由现金流率自由现金流/营收 | -17.1% | 36.3% |
| 资本支出强度资本支出/营收 | 59.3% | 0.4% |
| 现金转化率经营现金流/净利润 | 27.09× | 1.06× |
| 过去12个月自由现金流最近4个季度 | $-819.5M | $684.2M |
8季度趋势，按日历期对齐
经营现金流PNWRDDT
| Q4 25 | $476.8M | $266.8M | ||
| Q3 25 | $665.0M | $185.2M | ||
| Q2 25 | $261.4M | $111.3M | ||
| Q1 25 | $401.9M | $127.6M | ||
| Q4 24 | $439.5M | $90.0M | ||
| Q3 24 | $633.2M | $71.6M | ||
| Q2 24 | $189.8M | $28.4M | ||
| Q1 24 | $347.4M | $32.1M |
自由现金流PNWRDDT
| Q4 25 | $-192.7M | $263.6M | ||
| Q3 25 | $42.0M | $183.1M | ||
| Q2 25 | $-448.1M | $110.8M | ||
| Q1 25 | $-220.7M | $126.6M | ||
| Q4 24 | $-92.1M | $89.2M | ||
| Q3 24 | $-32.7M | $70.3M | ||
| Q2 24 | $-344.2M | $27.2M | ||
| Q1 24 | $-170.4M | $29.2M |
自由现金流率PNWRDDT
| Q4 25 | -17.1% | 36.3% | ||
| Q3 25 | 2.3% | 31.3% | ||
| Q2 25 | -33.0% | 22.2% | ||
| Q1 25 | -21.4% | 32.3% | ||
| Q4 24 | -8.4% | 20.8% | ||
| Q3 24 | -1.8% | 20.2% | ||
| Q2 24 | -26.3% | 9.7% | ||
| Q1 24 | -17.9% | 12.0% |
资本支出强度PNWRDDT
| Q4 25 | 59.3% | 0.4% | ||
| Q3 25 | 34.2% | 0.4% | ||
| Q2 25 | 52.2% | 0.1% | ||
| Q1 25 | 60.3% | 0.2% | ||
| Q4 24 | 48.5% | 0.2% | ||
| Q3 24 | 37.6% | 0.4% | ||
| Q2 24 | 40.8% | 0.4% | ||
| Q1 24 | 54.4% | 1.2% |
现金转化率PNWRDDT
| Q4 25 | 27.09× | 1.06× | ||
| Q3 25 | 1.59× | 1.14× | ||
| Q2 25 | 1.33× | 1.25× | ||
| Q1 25 | — | 4.88× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | 1.59× | 2.40× | ||
| Q2 24 | 0.91× | — | ||
| Q1 24 | 16.41× | — |
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
PNW
| Electricand Transmission Service | $1.1B | 100% |
| Other Services | $4.4M | 0% |
RDDT
| Advertising | $689.7M | 95% |
| Other Revenue | $35.9M | 5% |
