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Pinnacle West Capital（PNW）与Rithm Capital Corp.（RITM）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Rithm Capital Corp.的1.4倍（$1.1B vs $828.2M），Rithm Capital Corp.净利率更高（13.2% vs 1.6%，领先11.7%），Rithm Capital Corp.同比增速更快（508.5% vs 3.0%），过去两年Pinnacle West Capital的营收复合增速更高（8.9% vs -17.9%）
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。
Rithm Capital Corp.是总部位于美国纽约的投资管理机构，核心业务聚焦房地产投资与另类资产投资，依托专业的投研团队和成熟的市场运营经验，为合作伙伴及投资者提供优质的资产配置解决方案与长期收益回报。
PNW vs RITM — 直观对比
营收规模更大
PNW
是对方的1.4倍
$828.2M
营收增速更快
RITM
高出505.5%
3.0%
净利率更高
RITM
高出11.7%
1.6%
两年增速更快
PNW
近两年复合增速
-17.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $828.2M |
| 净利润 | $17.6M | $109.5M |
| 毛利率 | — | — |
| 营业利润率 | 10.7% | 29.9% |
| 净利率 | 1.6% | 13.2% |
| 营收同比 | 3.0% | 508.5% |
| 净利润同比 | 798.0% | 27.7% |
| 每股收益（稀释后） | $0.12 | $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PNWRITM
| Q1 26 | — | $828.2M | ||
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $1.8B | $1.1B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.0B | $768.4M | ||
| Q4 24 | $1.1B | $2.1B | ||
| Q3 24 | $1.8B | $619.5M | ||
| Q2 24 | $1.3B | $1.2B |
净利润PNWRITM
| Q1 26 | — | $109.5M | ||
| Q4 25 | $17.6M | $85.0M | ||
| Q3 25 | $417.5M | $221.5M | ||
| Q2 25 | $196.9M | $311.7M | ||
| Q1 25 | $-338.0K | $78.8M | ||
| Q4 24 | $-2.5M | $290.2M | ||
| Q3 24 | $399.3M | $121.7M | ||
| Q2 24 | $208.1M | $235.6M |
营业利润率PNWRITM
| Q1 26 | — | 29.9% | ||
| Q4 25 | 10.7% | 13.8% | ||
| Q3 25 | 32.0% | 21.4% | ||
| Q2 25 | 22.6% | 25.2% | ||
| Q1 25 | 5.5% | 7.4% | ||
| Q4 24 | 7.7% | 23.8% | ||
| Q3 24 | 30.9% | 7.3% | ||
| Q2 24 | 24.0% | 23.6% |
净利率PNWRITM
| Q1 26 | — | 13.2% | ||
| Q4 25 | 1.6% | 5.7% | ||
| Q3 25 | 22.9% | 20.0% | ||
| Q2 25 | 14.5% | 25.6% | ||
| Q1 25 | -0.0% | 10.3% | ||
| Q4 24 | -0.2% | 14.0% | ||
| Q3 24 | 22.6% | 19.7% | ||
| Q2 24 | 15.9% | 19.2% |
每股收益（稀释后）PNWRITM
| Q1 26 | — | $0.12 | ||
| Q4 25 | $0.12 | $0.09 | ||
| Q3 25 | $3.39 | $0.35 | ||
| Q2 25 | $1.58 | $0.53 | ||
| Q1 25 | $-0.04 | $0.07 | ||
| Q4 24 | $-0.04 | $0.50 | ||
| Q3 24 | $3.37 | $0.20 | ||
| Q2 24 | $1.76 | $0.43 |
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 | $6.6M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.0B | $9.1B |
| 总资产 | $30.0B | $53.4B |
| 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PNWRITM
| Q1 26 | — | — | ||
| Q4 25 | $6.6M | $1.8B | ||
| Q3 25 | $30.9M | $1.6B | ||
| Q2 25 | $18.8M | $1.6B | ||
| Q1 25 | $10.0M | $1.5B | ||
| Q4 24 | $3.8M | $1.5B | ||
| Q3 24 | $49.2M | $1.6B | ||
| Q2 24 | $4.0M | $1.2B |
总债务PNWRITM
| Q1 26 | — | — | ||
| Q4 25 | — | $35.4B | ||
| Q3 25 | — | $32.2B | ||
| Q2 25 | — | $31.2B | ||
| Q1 25 | — | $32.2B | ||
| Q4 24 | — | $32.6B | ||
| Q3 24 | — | $29.6B | ||
| Q2 24 | — | $30.1B |
股东权益PNWRITM
| Q1 26 | — | $9.1B | ||
| Q4 25 | $7.0B | $8.4B | ||
| Q3 25 | $7.2B | $8.5B | ||
| Q2 25 | $6.7B | $7.9B | ||
| Q1 25 | $6.7B | $7.8B | ||
| Q4 24 | $6.8B | $7.8B | ||
| Q3 24 | $6.6B | $7.7B | ||
| Q2 24 | $6.2B | $7.3B |
总资产PNWRITM
| Q1 26 | — | $53.4B | ||
| Q4 25 | $30.0B | $53.1B | ||
| Q3 25 | $29.9B | $47.2B | ||
| Q2 25 | $29.2B | $44.3B | ||
| Q1 25 | $27.2B | $45.3B | ||
| Q4 24 | $26.1B | $46.0B | ||
| Q3 24 | $26.3B | $42.3B | ||
| Q2 24 | $25.7B | $42.0B |
负债/权益比PNWRITM
| Q1 26 | — | — | ||
| Q4 25 | — | 4.20× | ||
| Q3 25 | — | 3.79× | ||
| Q2 25 | — | 3.92× | ||
| Q1 25 | — | 4.14× | ||
| Q4 24 | — | 4.18× | ||
| Q3 24 | — | 3.87× | ||
| Q2 24 | — | 4.10× |
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 | $-192.7M | — |
| 自由现金流率自由现金流/营收 | -17.1% | — |
| 资本支出强度资本支出/营收 | 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 | $-819.5M | — |
8季度趋势，按日历期对齐
经营现金流PNWRITM
| Q1 26 | — | — | ||
| Q4 25 | $476.8M | $-114.6M | ||
| Q3 25 | $665.0M | $-2.0B | ||
| Q2 25 | $261.4M | $-557.1M | ||
| Q1 25 | $401.9M | $1.4B | ||
| Q4 24 | $439.5M | $-1.8B | ||
| Q3 24 | $633.2M | $768.1M | ||
| Q2 24 | $189.8M | $-55.7M |
自由现金流PNWRITM
| Q1 26 | — | — | ||
| Q4 25 | $-192.7M | — | ||
| Q3 25 | $42.0M | — | ||
| Q2 25 | $-448.1M | — | ||
| Q1 25 | $-220.7M | — | ||
| Q4 24 | $-92.1M | — | ||
| Q3 24 | $-32.7M | — | ||
| Q2 24 | $-344.2M | — |
自由现金流率PNWRITM
| Q1 26 | — | — | ||
| Q4 25 | -17.1% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | -33.0% | — | ||
| Q1 25 | -21.4% | — | ||
| Q4 24 | -8.4% | — | ||
| Q3 24 | -1.8% | — | ||
| Q2 24 | -26.3% | — |
资本支出强度PNWRITM
| Q1 26 | — | — | ||
| Q4 25 | 59.3% | — | ||
| Q3 25 | 34.2% | — | ||
| Q2 25 | 52.2% | — | ||
| Q1 25 | 60.3% | — | ||
| Q4 24 | 48.5% | — | ||
| Q3 24 | 37.6% | — | ||
| Q2 24 | 40.8% | — |
现金转化率PNWRITM
| Q1 26 | — | — | ||
| Q4 25 | 27.09× | -1.35× | ||
| Q3 25 | 1.59× | -9.22× | ||
| Q2 25 | 1.33× | -1.79× | ||
| Q1 25 | — | 18.03× | ||
| Q4 24 | — | -6.04× | ||
| Q3 24 | 1.59× | 6.31× | ||
| Q2 24 | 0.91× | -0.24× |
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% |
RITM
| Servicing revenue, net | $375.1M | 45% |
| Other | $234.9M | 28% |
| Gain on originated residential mortgage loans, held-for-sale, net | $195.0M | 24% |
| Other revenue | $23.3M | 3% |
