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Pinnacle West Capital（PNW）与RUSH ENTERPRISES INC \TX\（RUSHA）财务数据对比。点击上方公司名可切换其他公司
RUSH ENTERPRISES INC \TX\的季度营收约是Pinnacle West Capital的1.5倍（$1.7B vs $1.1B），RUSH ENTERPRISES INC \TX\净利率更高（3.7% vs 1.6%，领先2.1%），Pinnacle West Capital同比增速更快（3.0% vs -9.0%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $-192.7M），过去两年Pinnacle West Capital的营收复合增速更高（8.9% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
PNW vs RUSHA — 直观对比
营收规模更大
RUSHA
是对方的1.5倍
$1.1B
营收增速更快
PNW
高出12.0%
-9.0%
净利率更高
RUSHA
高出2.1%
1.6%
自由现金流更多
RUSHA
多$604.3M
$-192.7M
两年增速更快
PNW
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.7B |
| 净利润 | $17.6M | $61.7M |
| 毛利率 | — | 20.4% |
| 营业利润率 | 10.7% | 4.9% |
| 净利率 | 1.6% | 3.7% |
| 营收同比 | 3.0% | -9.0% |
| 净利润同比 | 798.0% | 1.8% |
| 每股收益（稀释后） | $0.12 | $0.77 |
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PNWRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $1.8B | $1.8B | ||
| Q2 25 | $1.4B | $1.8B | ||
| Q1 25 | $1.0B | $1.8B | ||
| Q4 24 | $1.1B | $1.9B | ||
| Q3 24 | $1.8B | $1.8B | ||
| Q2 24 | $1.3B | $1.9B |
净利润PNWRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $17.6M | $64.3M | ||
| Q3 25 | $417.5M | $66.7M | ||
| Q2 25 | $196.9M | $72.4M | ||
| Q1 25 | $-338.0K | $60.3M | ||
| Q4 24 | $-2.5M | $74.8M | ||
| Q3 24 | $399.3M | $79.1M | ||
| Q2 24 | $208.1M | $78.7M |
毛利率PNWRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | — | 20.8% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 20.7% | ||
| Q1 25 | — | 20.3% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | 20.2% |
营业利润率PNWRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 10.7% | 5.5% | ||
| Q3 25 | 32.0% | 5.6% | ||
| Q2 25 | 22.6% | 6.0% | ||
| Q1 25 | 5.5% | 5.2% | ||
| Q4 24 | 7.7% | 5.8% | ||
| Q3 24 | 30.9% | 6.7% | ||
| Q2 24 | 24.0% | 6.4% |
净利率PNWRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 1.6% | 3.8% | ||
| Q3 25 | 22.9% | 3.7% | ||
| Q2 25 | 14.5% | 3.9% | ||
| Q1 25 | -0.0% | 3.4% | ||
| Q4 24 | -0.2% | 3.9% | ||
| Q3 24 | 22.6% | 4.4% | ||
| Q2 24 | 15.9% | 4.1% |
每股收益（稀释后）PNWRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $0.12 | $0.81 | ||
| Q3 25 | $3.39 | $0.83 | ||
| Q2 25 | $1.58 | $0.90 | ||
| Q1 25 | $-0.04 | $0.73 | ||
| Q4 24 | $-0.04 | $-95.13 | ||
| Q3 24 | $3.37 | $0.97 | ||
| Q2 24 | $1.76 | $97.00 |
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 | — | $277.8M |
| 股东权益账面价值 | $7.0B | $2.3B |
| 总资产 | $30.0B | $4.5B |
| 负债/权益比越低杠杆越低 | — | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资PNWRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $6.6M | $212.6M | ||
| Q3 25 | $30.9M | $242.0M | ||
| Q2 25 | $18.8M | $211.1M | ||
| Q1 25 | $10.0M | $228.7M | ||
| Q4 24 | $3.8M | $228.1M | ||
| Q3 24 | $49.2M | $185.1M | ||
| Q2 24 | $4.0M | $167.3M |
总债务PNWRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | — | $274.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $408.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益PNWRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $7.0B | $2.2B | ||
| Q3 25 | $7.2B | $2.2B | ||
| Q2 25 | $6.7B | $2.2B | ||
| Q1 25 | $6.7B | $2.2B | ||
| Q4 24 | $6.8B | $2.1B | ||
| Q3 24 | $6.6B | $2.1B | ||
| Q2 24 | $6.2B | $2.0B |
总资产PNWRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $30.0B | $4.4B | ||
| Q3 25 | $29.9B | $4.6B | ||
| Q2 25 | $29.2B | $4.7B | ||
| Q1 25 | $27.2B | $4.7B | ||
| Q4 24 | $26.1B | $4.6B | ||
| Q3 24 | $26.3B | $4.6B | ||
| Q2 24 | $25.7B | $4.5B |
负债/权益比PNWRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $411.6M |
| 自由现金流率自由现金流/营收 | -17.1% | 24.4% |
| 资本支出强度资本支出/营收 | 59.3% | 2.0% |
| 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 | $828.4M |
8季度趋势，按日历期对齐
经营现金流PNWRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $476.8M | $112.9M | ||
| Q3 25 | $665.0M | $367.8M | ||
| Q2 25 | $261.4M | $227.6M | ||
| Q1 25 | $401.9M | $153.5M | ||
| Q4 24 | $439.5M | $392.3M | ||
| Q3 24 | $633.2M | $111.7M | ||
| Q2 24 | $189.8M | $270.6M |
自由现金流PNWRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $-192.7M | $31.9M | ||
| Q3 25 | $42.0M | $271.2M | ||
| Q2 25 | $-448.1M | $113.8M | ||
| Q1 25 | $-220.7M | $45.1M | ||
| Q4 24 | $-92.1M | $263.5M | ||
| Q3 24 | $-32.7M | $-20.0M | ||
| Q2 24 | $-344.2M | $177.2M |
自由现金流率PNWRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | -17.1% | 1.9% | ||
| Q3 25 | 2.3% | 15.2% | ||
| Q2 25 | -33.0% | 6.2% | ||
| Q1 25 | -21.4% | 2.6% | ||
| Q4 24 | -8.4% | 13.7% | ||
| Q3 24 | -1.8% | -1.1% | ||
| Q2 24 | -26.3% | 9.1% |
资本支出强度PNWRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 59.3% | 4.8% | ||
| Q3 25 | 34.2% | 5.4% | ||
| Q2 25 | 52.2% | 6.2% | ||
| Q1 25 | 60.3% | 6.2% | ||
| Q4 24 | 48.5% | 6.7% | ||
| Q3 24 | 37.6% | 7.3% | ||
| Q2 24 | 40.8% | 4.8% |
现金转化率PNWRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 27.09× | 1.75× | ||
| Q3 25 | 1.59× | 5.51× | ||
| Q2 25 | 1.33× | 3.14× | ||
| Q1 25 | — | 2.55× | ||
| Q4 24 | — | 5.25× | ||
| Q3 24 | 1.59× | 1.41× | ||
| Q2 24 | 0.91× | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
