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Pinnacle West Capital（PNW）与Atlassian Corp（TEAM）财务数据对比。点击上方公司名可切换其他公司
Atlassian Corp的季度营收约是Pinnacle West Capital的1.4倍（$1.6B vs $1.1B），Pinnacle West Capital净利率更高（1.6% vs -2.7%，领先4.2%），Atlassian Corp同比增速更快（23.3% vs 3.0%），Atlassian Corp自由现金流更多（$168.5M vs $-192.7M）
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。
Dragoneer投资集团是总部位于美国加利福尼亚州旧金山的专业投资机构，专注于全球科技领域的投资布局，业务覆盖公开股票市场与私募股权市场，在全球科技投资赛道拥有丰富的运作经验和行业资源。
PNW vs TEAM — 直观对比
营收规模更大
TEAM
是对方的1.4倍
$1.1B
营收增速更快
TEAM
高出20.3%
3.0%
净利率更高
PNW
高出4.2%
-2.7%
自由现金流更多
TEAM
多$361.3M
$-192.7M
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.6B |
| 净利润 | $17.6M | $-42.6M |
| 毛利率 | — | 85.0% |
| 营业利润率 | 10.7% | -3.0% |
| 净利率 | 1.6% | -2.7% |
| 营收同比 | 3.0% | 23.3% |
| 净利润同比 | 798.0% | -11.6% |
| 每股收益（稀释后） | $0.12 | $-0.16 |
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PNWTEAM
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $1.8B | $1.4B | ||
| Q2 25 | $1.4B | $1.4B | ||
| Q1 25 | $1.0B | $1.4B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.8B | $1.2B | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $951.7M | $1.2B |
净利润PNWTEAM
| Q4 25 | $17.6M | $-42.6M | ||
| Q3 25 | $417.5M | $-51.9M | ||
| Q2 25 | $196.9M | $-23.9M | ||
| Q1 25 | $-338.0K | $-70.8M | ||
| Q4 24 | $-2.5M | $-38.2M | ||
| Q3 24 | $399.3M | $-123.8M | ||
| Q2 24 | $208.1M | — | ||
| Q1 24 | $21.2M | $12.8M |
毛利率PNWTEAM
| Q4 25 | — | 85.0% | ||
| Q3 25 | — | 82.0% | ||
| Q2 25 | — | 83.1% | ||
| Q1 25 | — | 83.8% | ||
| Q4 24 | — | 82.7% | ||
| Q3 24 | — | 81.7% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 82.1% |
营业利润率PNWTEAM
| Q4 25 | 10.7% | -3.0% | ||
| Q3 25 | 32.0% | -6.7% | ||
| Q2 25 | 22.6% | -2.1% | ||
| Q1 25 | 5.5% | -0.9% | ||
| Q4 24 | 7.7% | -4.5% | ||
| Q3 24 | 30.9% | -2.7% | ||
| Q2 24 | 24.0% | — | ||
| Q1 24 | 7.0% | 1.5% |
净利率PNWTEAM
| Q4 25 | 1.6% | -2.7% | ||
| Q3 25 | 22.9% | -3.6% | ||
| Q2 25 | 14.5% | -1.7% | ||
| Q1 25 | -0.0% | -5.2% | ||
| Q4 24 | -0.2% | -3.0% | ||
| Q3 24 | 22.6% | -10.4% | ||
| Q2 24 | 15.9% | — | ||
| Q1 24 | 2.2% | 1.1% |
每股收益（稀释后）PNWTEAM
| Q4 25 | $0.12 | $-0.16 | ||
| Q3 25 | $3.39 | $-0.20 | ||
| Q2 25 | $1.58 | $-0.08 | ||
| Q1 25 | $-0.04 | $-0.27 | ||
| Q4 24 | $-0.04 | $-0.15 | ||
| Q3 24 | $3.37 | $-0.48 | ||
| Q2 24 | $1.76 | — | ||
| Q1 24 | $0.15 | $0.05 |
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 | $1.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.0B | $1.6B |
| 总资产 | $30.0B | $6.2B |
| 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PNWTEAM
| Q4 25 | $6.6M | $1.6B | ||
| Q3 25 | $30.9M | $2.8B | ||
| Q2 25 | $18.8M | $2.9B | ||
| Q1 25 | $10.0M | $3.0B | ||
| Q4 24 | $3.8M | $2.5B | ||
| Q3 24 | $49.2M | $2.2B | ||
| Q2 24 | $4.0M | — | ||
| Q1 24 | $9.6M | $2.1B |
股东权益PNWTEAM
| Q4 25 | $7.0B | $1.6B | ||
| Q3 25 | $7.2B | $1.4B | ||
| Q2 25 | $6.7B | $1.3B | ||
| Q1 25 | $6.7B | $1.4B | ||
| Q4 24 | $6.8B | $1.2B | ||
| Q3 24 | $6.6B | $1.0B | ||
| Q2 24 | $6.2B | — | ||
| Q1 24 | $6.2B | $1.1B |
总资产PNWTEAM
| Q4 25 | $30.0B | $6.2B | ||
| Q3 25 | $29.9B | $5.7B | ||
| Q2 25 | $29.2B | $6.0B | ||
| Q1 25 | $27.2B | $5.9B | ||
| Q4 24 | $26.1B | $5.4B | ||
| Q3 24 | $26.3B | $5.0B | ||
| Q2 24 | $25.7B | — | ||
| Q1 24 | $24.8B | $5.1B |
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 | $177.8M |
| 自由现金流经营现金流 - 资本支出 | $-192.7M | $168.5M |
| 自由现金流率自由现金流/营收 | -17.1% | 10.6% |
| 资本支出强度资本支出/营收 | 59.3% | 0.6% |
| 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 | $1.3B |
8季度趋势，按日历期对齐
经营现金流PNWTEAM
| Q4 25 | $476.8M | $177.8M | ||
| Q3 25 | $665.0M | $128.7M | ||
| Q2 25 | $261.4M | $375.3M | ||
| Q1 25 | $401.9M | $652.7M | ||
| Q4 24 | $439.5M | $351.9M | ||
| Q3 24 | $633.2M | $80.5M | ||
| Q2 24 | $189.8M | — | ||
| Q1 24 | $347.4M | $565.4M |
自由现金流PNWTEAM
| Q4 25 | $-192.7M | $168.5M | ||
| Q3 25 | $42.0M | $114.6M | ||
| Q2 25 | $-448.1M | $360.3M | ||
| Q1 25 | $-220.7M | $638.3M | ||
| Q4 24 | $-92.1M | $342.6M | ||
| Q3 24 | $-32.7M | $74.3M | ||
| Q2 24 | $-344.2M | — | ||
| Q1 24 | $-170.4M | $554.9M |
自由现金流率PNWTEAM
| Q4 25 | -17.1% | 10.6% | ||
| Q3 25 | 2.3% | 8.0% | ||
| Q2 25 | -33.0% | 26.0% | ||
| Q1 25 | -21.4% | 47.0% | ||
| Q4 24 | -8.4% | 26.6% | ||
| Q3 24 | -1.8% | 6.3% | ||
| Q2 24 | -26.3% | — | ||
| Q1 24 | -17.9% | 46.7% |
资本支出强度PNWTEAM
| Q4 25 | 59.3% | 0.6% | ||
| Q3 25 | 34.2% | 1.0% | ||
| Q2 25 | 52.2% | 1.1% | ||
| Q1 25 | 60.3% | 1.1% | ||
| Q4 24 | 48.5% | 0.7% | ||
| Q3 24 | 37.6% | 0.5% | ||
| Q2 24 | 40.8% | — | ||
| Q1 24 | 54.4% | 0.9% |
现金转化率PNWTEAM
| 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× | 44.34× |
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% |
TEAM
| Cloud Deployment Services | $1.1B | 67% |
| Data Center Deployment | $435.6M | 27% |
| Marketplace And Services Deployment | $83.7M | 5% |
