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Pinnacle West Capital（PNW）与RXO, Inc.（RXO）财务数据对比。点击上方公司名可切换其他公司
RXO, Inc.的季度营收约是Pinnacle West Capital的1.3倍（$1.5B vs $1.1B），Pinnacle West Capital净利率更高（1.6% vs -3.1%，领先4.7%），Pinnacle West Capital同比增速更快（3.0% vs -11.9%），RXO, Inc.自由现金流更多（$-9.0M vs $-192.7M），过去两年RXO, Inc.的营收复合增速更高（26.8% 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。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
PNW vs RXO — 直观对比
营收规模更大
RXO
是对方的1.3倍
$1.1B
营收增速更快
PNW
高出14.9%
-11.9%
净利率更高
PNW
高出4.7%
-3.1%
自由现金流更多
RXO
多$183.7M
$-192.7M
两年增速更快
RXO
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.5B |
| 净利润 | $17.6M | $-46.0M |
| 毛利率 | — | — |
| 营业利润率 | 10.7% | -2.9% |
| 净利率 | 1.6% | -3.1% |
| 营收同比 | 3.0% | -11.9% |
| 净利润同比 | 798.0% | -84.0% |
| 每股收益（稀释后） | $0.12 | $-0.28 |
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PNWRXO
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $1.8B | $1.4B | ||
| Q2 25 | $1.4B | $1.4B | ||
| Q1 25 | $1.0B | $1.4B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $1.8B | $1.0B | ||
| Q2 24 | $1.3B | $930.0M | ||
| Q1 24 | $951.7M | $913.0M |
净利润PNWRXO
| Q4 25 | $17.6M | $-46.0M | ||
| Q3 25 | $417.5M | $-14.0M | ||
| Q2 25 | $196.9M | $-9.0M | ||
| Q1 25 | $-338.0K | $-31.0M | ||
| Q4 24 | $-2.5M | $-25.0M | ||
| Q3 24 | $399.3M | $-243.0M | ||
| Q2 24 | $208.1M | $-7.0M | ||
| Q1 24 | $21.2M | $-15.0M |
营业利润率PNWRXO
| Q4 25 | 10.7% | -2.9% | ||
| Q3 25 | 32.0% | -0.5% | ||
| Q2 25 | 22.6% | — | ||
| Q1 25 | 5.5% | -2.1% | ||
| Q4 24 | 7.7% | -1.4% | ||
| Q3 24 | 30.9% | -1.9% | ||
| Q2 24 | 24.0% | — | ||
| Q1 24 | 7.0% | -1.3% |
净利率PNWRXO
| Q4 25 | 1.6% | -3.1% | ||
| Q3 25 | 22.9% | -1.0% | ||
| Q2 25 | 14.5% | -0.6% | ||
| Q1 25 | -0.0% | -2.2% | ||
| Q4 24 | -0.2% | -1.5% | ||
| Q3 24 | 22.6% | -23.4% | ||
| Q2 24 | 15.9% | -0.8% | ||
| Q1 24 | 2.2% | -1.6% |
每股收益（稀释后）PNWRXO
| Q4 25 | $0.12 | $-0.28 | ||
| Q3 25 | $3.39 | $-0.08 | ||
| Q2 25 | $1.58 | $-0.05 | ||
| Q1 25 | $-0.04 | $-0.18 | ||
| Q4 24 | $-0.04 | $-0.17 | ||
| Q3 24 | $3.37 | $-1.81 | ||
| Q2 24 | $1.76 | $-0.06 | ||
| Q1 24 | $0.15 | $-0.13 |
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 | $17.0M |
| 总债务越低越好 | — | $387.0M |
| 股东权益账面价值 | $7.0B | $1.5B |
| 总资产 | $30.0B | $3.3B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资PNWRXO
| Q4 25 | $6.6M | $17.0M | ||
| Q3 25 | $30.9M | $25.0M | ||
| Q2 25 | $18.8M | $18.0M | ||
| Q1 25 | $10.0M | $16.0M | ||
| Q4 24 | $3.8M | $35.0M | ||
| Q3 24 | $49.2M | $55.0M | ||
| Q2 24 | $4.0M | $7.0M | ||
| Q1 24 | $9.6M | $7.0M |
总债务PNWRXO
| Q4 25 | — | $387.0M | ||
| Q3 25 | — | $387.0M | ||
| Q2 25 | — | $387.0M | ||
| Q1 25 | — | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M | ||
| Q1 24 | — | $351.0M |
股东权益PNWRXO
| Q4 25 | $7.0B | $1.5B | ||
| Q3 25 | $7.2B | $1.6B | ||
| Q2 25 | $6.7B | $1.6B | ||
| Q1 25 | $6.7B | $1.6B | ||
| Q4 24 | $6.8B | $1.6B | ||
| Q3 24 | $6.6B | $1.7B | ||
| Q2 24 | $6.2B | $579.0M | ||
| Q1 24 | $6.2B | $582.0M |
总资产PNWRXO
| Q4 25 | $30.0B | $3.3B | ||
| Q3 25 | $29.9B | $3.2B | ||
| Q2 25 | $29.2B | $3.2B | ||
| Q1 25 | $27.2B | $3.3B | ||
| Q4 24 | $26.1B | $3.4B | ||
| Q3 24 | $26.3B | $3.4B | ||
| Q2 24 | $25.7B | $1.8B | ||
| Q1 24 | $24.8B | $1.8B |
负债/权益比PNWRXO
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
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 | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $-192.7M | $-9.0M |
| 自由现金流率自由现金流/营收 | -17.1% | -0.6% |
| 资本支出强度资本支出/营收 | 59.3% | 1.1% |
| 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 | $-8.0M |
8季度趋势，按日历期对齐
经营现金流PNWRXO
| Q4 25 | $476.8M | $7.0M | ||
| Q3 25 | $665.0M | $23.0M | ||
| Q2 25 | $261.4M | $23.0M | ||
| Q1 25 | $401.9M | $-2.0M | ||
| Q4 24 | $439.5M | $-7.0M | ||
| Q3 24 | $633.2M | $-7.0M | ||
| Q2 24 | $189.8M | $-5.0M | ||
| Q1 24 | $347.4M | $7.0M |
自由现金流PNWRXO
| Q4 25 | $-192.7M | $-9.0M | ||
| Q3 25 | $42.0M | $9.0M | ||
| Q2 25 | $-448.1M | $9.0M | ||
| Q1 25 | $-220.7M | $-17.0M | ||
| Q4 24 | $-92.1M | $-19.0M | ||
| Q3 24 | $-32.7M | $-18.0M | ||
| Q2 24 | $-344.2M | $-16.0M | ||
| Q1 24 | $-170.4M | $-4.0M |
自由现金流率PNWRXO
| Q4 25 | -17.1% | -0.6% | ||
| Q3 25 | 2.3% | 0.6% | ||
| Q2 25 | -33.0% | 0.6% | ||
| Q1 25 | -21.4% | -1.2% | ||
| Q4 24 | -8.4% | -1.1% | ||
| Q3 24 | -1.8% | -1.7% | ||
| Q2 24 | -26.3% | -1.7% | ||
| Q1 24 | -17.9% | -0.4% |
资本支出强度PNWRXO
| Q4 25 | 59.3% | 1.1% | ||
| Q3 25 | 34.2% | 1.0% | ||
| Q2 25 | 52.2% | 1.0% | ||
| Q1 25 | 60.3% | 1.0% | ||
| Q4 24 | 48.5% | 0.7% | ||
| Q3 24 | 37.6% | 1.1% | ||
| Q2 24 | 40.8% | 1.2% | ||
| Q1 24 | 54.4% | 1.2% |
现金转化率PNWRXO
| Q4 25 | 27.09× | — | ||
| Q3 25 | 1.59× | — | ||
| Q2 25 | 1.33× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.59× | — | ||
| 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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
