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Pinnacle West Capital（PNW）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
Pinnacle West Capital的季度营收约是越洋钻探的1.1倍（$1.1B vs $1.0B），越洋钻探净利率更高（2.4% vs 1.6%，领先0.8%），越洋钻探同比增速更快（9.6% vs 3.0%），越洋钻探自由现金流更多（$321.0M vs $-192.7M），过去两年越洋钻探的营收复合增速更高（16.9% 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。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
PNW vs RIG — 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
RIG
高出6.6%
3.0%
净利率更高
RIG
高出0.8%
1.6%
自由现金流更多
RIG
多$513.7M
$-192.7M
两年增速更快
RIG
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.0B |
| 净利润 | $17.6M | $25.0M |
| 毛利率 | — | 42.0% |
| 营业利润率 | 10.7% | 23.0% |
| 净利率 | 1.6% | 2.4% |
| 营收同比 | 3.0% | 9.6% |
| 净利润同比 | 798.0% | 257.1% |
| 每股收益（稀释后） | $0.12 | $0.13 |
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PNWRIG
| Q4 25 | $1.1B | $1.0B | ||
| Q3 25 | $1.8B | $1.0B | ||
| Q2 25 | $1.4B | $988.0M | ||
| Q1 25 | $1.0B | $906.0M | ||
| Q4 24 | $1.1B | $952.0M | ||
| Q3 24 | $1.8B | $948.0M | ||
| Q2 24 | $1.3B | $861.0M | ||
| Q1 24 | $951.7M | $763.0M |
净利润PNWRIG
| Q4 25 | $17.6M | $25.0M | ||
| Q3 25 | $417.5M | $-1.9B | ||
| Q2 25 | $196.9M | $-938.0M | ||
| Q1 25 | $-338.0K | $-79.0M | ||
| Q4 24 | $-2.5M | $7.0M | ||
| Q3 24 | $399.3M | $-494.0M | ||
| Q2 24 | $208.1M | $-123.0M | ||
| Q1 24 | $21.2M | $98.0M |
毛利率PNWRIG
| Q4 25 | — | 42.0% | ||
| Q3 25 | — | 43.2% | ||
| Q2 25 | — | 39.4% | ||
| Q1 25 | — | 31.8% | ||
| Q4 24 | — | 39.2% | ||
| Q3 24 | — | 40.6% | ||
| Q2 24 | — | 38.0% | ||
| Q1 24 | — | 31.5% |
营业利润率PNWRIG
| Q4 25 | 10.7% | 23.0% | ||
| Q3 25 | 32.0% | -163.1% | ||
| Q2 25 | 22.6% | -97.6% | ||
| Q1 25 | 5.5% | 7.1% | ||
| Q4 24 | 7.7% | 13.7% | ||
| Q3 24 | 30.9% | -51.2% | ||
| Q2 24 | 24.0% | -6.9% | ||
| Q1 24 | 7.0% | -0.4% |
净利率PNWRIG
| Q4 25 | 1.6% | 2.4% | ||
| Q3 25 | 22.9% | -187.1% | ||
| Q2 25 | 14.5% | -94.9% | ||
| Q1 25 | -0.0% | -8.7% | ||
| Q4 24 | -0.2% | 0.7% | ||
| Q3 24 | 22.6% | -52.1% | ||
| Q2 24 | 15.9% | -14.3% | ||
| Q1 24 | 2.2% | 12.8% |
每股收益（稀释后）PNWRIG
| Q4 25 | $0.12 | $0.13 | ||
| Q3 25 | $3.39 | $-2.00 | ||
| Q2 25 | $1.58 | $-1.06 | ||
| Q1 25 | $-0.04 | $-0.11 | ||
| Q4 24 | $-0.04 | $-0.14 | ||
| Q3 24 | $3.37 | $-0.58 | ||
| Q2 24 | $1.76 | $-0.15 | ||
| Q1 24 | $0.15 | $0.11 |
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 | $620.0M |
| 总债务越低越好 | — | $5.2B |
| 股东权益账面价值 | $7.0B | $8.1B |
| 总资产 | $30.0B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资PNWRIG
| Q4 25 | $6.6M | $620.0M | ||
| Q3 25 | $30.9M | $833.0M | ||
| Q2 25 | $18.8M | $377.0M | ||
| Q1 25 | $10.0M | $263.0M | ||
| Q4 24 | $3.8M | $560.0M | ||
| Q3 24 | $49.2M | $435.0M | ||
| Q2 24 | $4.0M | $475.0M | ||
| Q1 24 | $9.6M | $446.0M |
总债务PNWRIG
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | — | $5.9B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | — | $6.2B | ||
| Q3 24 | — | $6.5B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $6.8B |
股东权益PNWRIG
| Q4 25 | $7.0B | $8.1B | ||
| Q3 25 | $7.2B | $8.1B | ||
| Q2 25 | $6.7B | $9.4B | ||
| Q1 25 | $6.7B | $10.2B | ||
| Q4 24 | $6.8B | $10.3B | ||
| Q3 24 | $6.6B | $10.2B | ||
| Q2 24 | $6.2B | $10.7B | ||
| Q1 24 | $6.2B | $10.5B |
总资产PNWRIG
| Q4 25 | $30.0B | $15.6B | ||
| Q3 25 | $29.9B | $16.2B | ||
| Q2 25 | $29.2B | $17.8B | ||
| Q1 25 | $27.2B | $19.0B | ||
| Q4 24 | $26.1B | $19.4B | ||
| Q3 24 | $26.3B | $19.5B | ||
| Q2 24 | $25.7B | $20.3B | ||
| Q1 24 | $24.8B | $19.9B |
负债/权益比PNWRIG
| Q4 25 | — | 0.64× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | — | 0.65× |
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 | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $-192.7M | $321.0M |
| 自由现金流率自由现金流/营收 | -17.1% | 30.8% |
| 资本支出强度资本支出/营收 | 59.3% | 2.7% |
| 现金转化率经营现金流/净利润 | 27.09× | 13.96× |
| 过去12个月自由现金流最近4个季度 | $-819.5M | $626.0M |
8季度趋势，按日历期对齐
经营现金流PNWRIG
| Q4 25 | $476.8M | $349.0M | ||
| Q3 25 | $665.0M | $246.0M | ||
| Q2 25 | $261.4M | $128.0M | ||
| Q1 25 | $401.9M | $26.0M | ||
| Q4 24 | $439.5M | $206.0M | ||
| Q3 24 | $633.2M | $194.0M | ||
| Q2 24 | $189.8M | $133.0M | ||
| Q1 24 | $347.4M | $-86.0M |
自由现金流PNWRIG
| Q4 25 | $-192.7M | $321.0M | ||
| Q3 25 | $42.0M | $235.0M | ||
| Q2 25 | $-448.1M | $104.0M | ||
| Q1 25 | $-220.7M | $-34.0M | ||
| Q4 24 | $-92.1M | $177.0M | ||
| Q3 24 | $-32.7M | $136.0M | ||
| Q2 24 | $-344.2M | $49.0M | ||
| Q1 24 | $-170.4M | $-169.0M |
自由现金流率PNWRIG
| Q4 25 | -17.1% | 30.8% | ||
| Q3 25 | 2.3% | 22.9% | ||
| Q2 25 | -33.0% | 10.5% | ||
| Q1 25 | -21.4% | -3.8% | ||
| Q4 24 | -8.4% | 18.6% | ||
| Q3 24 | -1.8% | 14.3% | ||
| Q2 24 | -26.3% | 5.7% | ||
| Q1 24 | -17.9% | -22.1% |
资本支出强度PNWRIG
| Q4 25 | 59.3% | 2.7% | ||
| Q3 25 | 34.2% | 1.1% | ||
| Q2 25 | 52.2% | 2.4% | ||
| Q1 25 | 60.3% | 6.6% | ||
| Q4 24 | 48.5% | 3.0% | ||
| Q3 24 | 37.6% | 6.1% | ||
| Q2 24 | 40.8% | 9.8% | ||
| Q1 24 | 54.4% | 10.9% |
现金转化率PNWRIG
| Q4 25 | 27.09× | 13.96× | ||
| Q3 25 | 1.59× | — | ||
| Q2 25 | 1.33× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 29.43× | ||
| Q3 24 | 1.59× | — | ||
| Q2 24 | 0.91× | — | ||
| Q1 24 | 16.41× | -0.88× |
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% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
