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POWER INTEGRATIONS INC（POWI）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
Rocket Lab Corp的季度营收约是POWER INTEGRATIONS INC的1.7倍（$179.7M vs $103.2M），POWER INTEGRATIONS INC净利率更高（12.9% vs -29.5%，领先42.3%），Rocket Lab Corp同比增速更快（35.7% vs -1.9%），POWER INTEGRATIONS INC自由现金流更多（$19.2M vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs 6.1%）
Power Integrations Inc.是美国头部电力公用事业企业，业务覆盖美国本土11个州，服务超500万用户，在全美电力供应领域拥有领先的市场地位与成熟的运营体系。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
POWI vs RKLB — 直观对比
营收规模更大
RKLB
是对方的1.7倍
$103.2M
营收增速更快
RKLB
高出37.6%
-1.9%
净利率更高
POWI
高出42.3%
-29.5%
自由现金流更多
POWI
多$133.3M
$-114.2M
两年增速更快
RKLB
近两年复合增速
6.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $103.2M | $179.7M |
| 净利润 | $13.3M | $-52.9M |
| 毛利率 | 52.9% | 38.0% |
| 营业利润率 | 8.5% | -28.4% |
| 净利率 | 12.9% | -29.5% |
| 营收同比 | -1.9% | 35.7% |
| 净利润同比 | 45.4% | -1.1% |
| 每股收益（稀释后） | $0.24 | $-0.09 |
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POWIRKLB
| Q4 25 | $103.2M | $179.7M | ||
| Q3 25 | $118.9M | $155.1M | ||
| Q2 25 | $115.9M | $144.5M | ||
| Q1 25 | $105.5M | $122.6M | ||
| Q4 24 | $105.3M | $132.4M | ||
| Q3 24 | $115.8M | $104.8M | ||
| Q2 24 | $106.2M | $106.3M | ||
| Q1 24 | $91.7M | $92.8M |
净利润POWIRKLB
| Q4 25 | $13.3M | $-52.9M | ||
| Q3 25 | $-1.4M | $-18.3M | ||
| Q2 25 | $1.4M | $-66.4M | ||
| Q1 25 | $8.8M | $-60.6M | ||
| Q4 24 | $9.1M | $-52.3M | ||
| Q3 24 | $14.3M | $-51.9M | ||
| Q2 24 | $4.8M | $-41.6M | ||
| Q1 24 | $4.0M | $-44.3M |
毛利率POWIRKLB
| Q4 25 | 52.9% | 38.0% | ||
| Q3 25 | 54.5% | 37.0% | ||
| Q2 25 | 55.2% | 32.1% | ||
| Q1 25 | 55.2% | 28.8% | ||
| Q4 24 | 54.4% | 27.8% | ||
| Q3 24 | 54.5% | 26.7% | ||
| Q2 24 | 53.2% | 25.6% | ||
| Q1 24 | 52.1% | 26.1% |
营业利润率POWIRKLB
| Q4 25 | 8.5% | -28.4% | ||
| Q3 25 | -3.3% | -38.0% | ||
| Q2 25 | -1.2% | -41.3% | ||
| Q1 25 | 6.4% | -48.3% | ||
| Q4 24 | 3.7% | -38.9% | ||
| Q3 24 | 10.0% | -49.5% | ||
| Q2 24 | 1.8% | -40.7% | ||
| Q1 24 | 0.5% | -46.4% |
净利率POWIRKLB
| Q4 25 | 12.9% | -29.5% | ||
| Q3 25 | -1.1% | -11.8% | ||
| Q2 25 | 1.2% | -46.0% | ||
| Q1 25 | 8.3% | -49.5% | ||
| Q4 24 | 8.7% | -39.5% | ||
| Q3 24 | 12.3% | -49.6% | ||
| Q2 24 | 4.6% | -39.2% | ||
| Q1 24 | 4.3% | -47.7% |
每股收益（稀释后）POWIRKLB
| Q4 25 | $0.24 | $-0.09 | ||
| Q3 25 | $-0.02 | $-0.03 | ||
| Q2 25 | $0.02 | $-0.13 | ||
| Q1 25 | $0.15 | $-0.12 | ||
| Q4 24 | $0.15 | $-0.11 | ||
| Q3 24 | $0.25 | $-0.10 | ||
| Q2 24 | $0.09 | $-0.08 | ||
| Q1 24 | $0.07 | $-0.09 |
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 | $249.5M | $1.0B |
| 总债务越低越好 | — | $152.4M |
| 股东权益账面价值 | $672.8M | $1.7B |
| 总资产 | $772.2M | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资POWIRKLB
| Q4 25 | $249.5M | $1.0B | ||
| Q3 25 | $241.9M | $976.7M | ||
| Q2 25 | $268.7M | $688.1M | ||
| Q1 25 | $289.3M | $428.4M | ||
| Q4 24 | $300.0M | $419.0M | ||
| Q3 24 | $303.8M | $442.4M | ||
| Q2 24 | $290.5M | $496.8M | ||
| Q1 24 | $299.6M | $492.5M |
总债务POWIRKLB
| Q4 25 | — | $152.4M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $345.9M | ||
| Q4 24 | — | $345.4M | ||
| Q3 24 | — | $61.2M | ||
| Q2 24 | — | $64.2M | ||
| Q1 24 | — | $66.8M |
股东权益POWIRKLB
| Q4 25 | $672.8M | $1.7B | ||
| Q3 25 | $672.0M | $1.3B | ||
| Q2 25 | $703.8M | $688.5M | ||
| Q1 25 | $735.8M | $431.3M | ||
| Q4 24 | $749.8M | $382.5M | ||
| Q3 24 | $749.2M | $419.8M | ||
| Q2 24 | $730.7M | $455.2M | ||
| Q1 24 | $738.2M | $478.9M |
总资产POWIRKLB
| Q4 25 | $772.2M | $2.3B | ||
| Q3 25 | $772.5M | $2.2B | ||
| Q2 25 | $797.5M | $1.6B | ||
| Q1 25 | $814.4M | $1.3B | ||
| Q4 24 | $828.8M | $1.2B | ||
| Q3 24 | $825.0M | $1.2B | ||
| Q2 24 | $804.8M | $1.2B | ||
| Q1 24 | $805.8M | $1.2B |
负债/权益比POWIRKLB
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $26.2M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $19.2M | $-114.2M |
| 自由现金流率自由现金流/营收 | 18.6% | -63.6% |
| 资本支出强度资本支出/营收 | 6.8% | 27.6% |
| 现金转化率经营现金流/净利润 | 1.97× | — |
| 过去12个月自由现金流最近4个季度 | $87.1M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流POWIRKLB
| Q4 25 | $26.2M | $-64.5M | ||
| Q3 25 | $29.9M | $-23.5M | ||
| Q2 25 | $29.1M | $-23.2M | ||
| Q1 25 | $26.4M | $-54.2M | ||
| Q4 24 | $14.7M | $-2.4M | ||
| Q3 24 | $32.9M | $-30.9M | ||
| Q2 24 | $17.6M | $-13.0M | ||
| Q1 24 | $15.9M | $-2.6M |
自由现金流POWIRKLB
| Q4 25 | $19.2M | $-114.2M | ||
| Q3 25 | $24.2M | $-69.4M | ||
| Q2 25 | $23.1M | $-55.3M | ||
| Q1 25 | $20.7M | $-82.9M | ||
| Q4 24 | $11.7M | $-23.9M | ||
| Q3 24 | $27.2M | $-41.9M | ||
| Q2 24 | $13.5M | $-28.3M | ||
| Q1 24 | $11.6M | $-21.8M |
自由现金流率POWIRKLB
| Q4 25 | 18.6% | -63.6% | ||
| Q3 25 | 20.3% | -44.8% | ||
| Q2 25 | 20.0% | -38.3% | ||
| Q1 25 | 19.6% | -67.6% | ||
| Q4 24 | 11.1% | -18.1% | ||
| Q3 24 | 23.5% | -40.0% | ||
| Q2 24 | 12.7% | -26.7% | ||
| Q1 24 | 12.6% | -23.5% |
资本支出强度POWIRKLB
| Q4 25 | 6.8% | 27.6% | ||
| Q3 25 | 4.8% | 29.6% | ||
| Q2 25 | 5.1% | 22.2% | ||
| Q1 25 | 5.4% | 23.4% | ||
| Q4 24 | 2.9% | 16.3% | ||
| Q3 24 | 4.9% | 10.5% | ||
| Q2 24 | 3.9% | 14.4% | ||
| Q1 24 | 4.7% | 20.7% |
现金转化率POWIRKLB
| Q4 25 | 1.97× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 21.24× | — | ||
| Q1 25 | 3.00× | — | ||
| Q4 24 | 1.61× | — | ||
| Q3 24 | 2.30× | — | ||
| Q2 24 | 3.64× | — | ||
| Q1 24 | 4.02× | — |
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
POWI
| Distributors | $65.8M | 64% |
| Other | $10.3M | 10% |
| KR | $9.3M | 9% |
| DE | $7.1M | 7% |
| TW | $5.5M | 5% |
| Emea Other Than Germany | $5.3M | 5% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
