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PPL Corporation（PPL）与道富集团（STT）财务数据对比。点击上方公司名可切换其他公司
道富集团的季度营收约是PPL Corporation的1.6倍（$3.7B vs $2.3B），道富集团净利率更高（20.4% vs 11.3%，领先9.0%），道富集团同比增速更快（7.5% vs 7.2%），道富集团自由现金流更多（$9.8B vs $-614.0M），过去两年道富集团的营收复合增速更高（8.1% vs 1.0%）
PPL公司是总部位于美国宾夕法尼亚州的能源公用事业控股企业，为宾州、肯塔基州、罗德岛州约350万居民及工商业用户提供电力与天然气供应服务，核心业务方向包括电网现代化升级、清洁能源转型、高可靠性可持续能源服务供给。
道富集团是总部位于美国波士顿的跨国金融服务及银行控股公司，历史可追溯至1792年成立的联合银行，是美国运营历史第二悠久的存续银行。作为全球顶尖的资产管理与托管机构，截至2025年第三季度，其管理资产规模约5.4万亿美元，托管及管理资产总规模达51.7万亿美元。
PPL vs STT — 直观对比
营收规模更大
STT
是对方的1.6倍
$2.3B
营收增速更快
STT
高出0.3%
7.2%
净利率更高
STT
高出9.0%
11.3%
自由现金流更多
STT
多$10.4B
$-614.0M
两年增速更快
STT
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $3.7B |
| 净利润 | $266.0M | $747.0M |
| 毛利率 | — | — |
| 营业利润率 | 20.3% | 25.0% |
| 净利率 | 11.3% | 20.4% |
| 营收同比 | 7.2% | 7.5% |
| 净利润同比 | 50.3% | -4.6% |
| 每股收益（稀释后） | $0.35 | $2.41 |
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PPLSTT
| Q4 25 | $2.3B | $3.7B | ||
| Q3 25 | $2.2B | $3.5B | ||
| Q2 25 | $2.0B | $3.4B | ||
| Q1 25 | $2.5B | $3.3B | ||
| Q4 24 | $2.2B | $3.4B | ||
| Q3 24 | $2.1B | $3.3B | ||
| Q2 24 | $1.9B | $3.2B | ||
| Q1 24 | $2.3B | $3.1B |
净利润PPLSTT
| Q4 25 | $266.0M | $747.0M | ||
| Q3 25 | $318.0M | $861.0M | ||
| Q2 25 | $183.0M | $693.0M | ||
| Q1 25 | $414.0M | $644.0M | ||
| Q4 24 | $177.0M | $783.0M | ||
| Q3 24 | $214.0M | $730.0M | ||
| Q2 24 | $190.0M | $711.0M | ||
| Q1 24 | $307.0M | $463.0M |
营业利润率PPLSTT
| Q4 25 | 20.3% | 25.0% | ||
| Q3 25 | 25.4% | 31.1% | ||
| Q2 25 | 19.9% | 25.8% | ||
| Q1 25 | 26.6% | 25.0% | ||
| Q4 24 | 17.2% | 28.1% | ||
| Q3 24 | 20.6% | 28.4% | ||
| Q2 24 | 20.8% | 28.6% | ||
| Q1 24 | 23.7% | 19.1% |
净利率PPLSTT
| Q4 25 | 11.3% | 20.4% | ||
| Q3 25 | 14.2% | 24.3% | ||
| Q2 25 | 9.0% | 20.1% | ||
| Q1 25 | 16.3% | 19.6% | ||
| Q4 24 | 8.1% | 22.9% | ||
| Q3 24 | 10.3% | 22.4% | ||
| Q2 24 | 10.1% | 22.3% | ||
| Q1 24 | 13.3% | 14.8% |
每股收益（稀释后）PPLSTT
| Q4 25 | $0.35 | $2.41 | ||
| Q3 25 | $0.43 | $2.78 | ||
| Q2 25 | $0.25 | $2.17 | ||
| Q1 25 | $0.56 | $2.04 | ||
| Q4 24 | $0.23 | $2.43 | ||
| Q3 24 | $0.29 | $2.26 | ||
| Q2 24 | $0.26 | $2.15 | ||
| Q1 24 | $0.42 | $1.37 |
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 | $1.1B | — |
| 总债务越低越好 | $18.9B | — |
| 股东权益账面价值 | $14.9B | $27.8B |
| 总资产 | $45.2B | $366.0B |
| 负债/权益比越低杠杆越低 | 1.27× | — |
8季度趋势，按日历期对齐
现金及短期投资PPLSTT
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $294.0M | — | ||
| Q1 25 | $312.0M | — | ||
| Q4 24 | $306.0M | — | ||
| Q3 24 | $542.0M | — | ||
| Q2 24 | $282.0M | — | ||
| Q1 24 | $276.0M | — |
总债务PPLSTT
| Q4 25 | $18.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $16.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PPLSTT
| Q4 25 | $14.9B | $27.8B | ||
| Q3 25 | $14.4B | $27.6B | ||
| Q2 25 | $14.3B | $27.3B | ||
| Q1 25 | $14.3B | $26.7B | ||
| Q4 24 | $14.1B | $25.3B | ||
| Q3 24 | $14.1B | $25.8B | ||
| Q2 24 | $14.1B | $24.8B | ||
| Q1 24 | $14.1B | $24.4B |
总资产PPLSTT
| Q4 25 | $45.2B | $366.0B | ||
| Q3 25 | $43.9B | $371.1B | ||
| Q2 25 | $42.4B | $376.7B | ||
| Q1 25 | $41.8B | $372.7B | ||
| Q4 24 | $41.1B | $353.2B | ||
| Q3 24 | $40.5B | $338.5B | ||
| Q2 24 | $39.8B | $325.6B | ||
| Q1 24 | $39.6B | $338.0B |
负债/权益比PPLSTT
| Q4 25 | 1.27× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.17× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $548.0M | $10.0B |
| 自由现金流经营现金流 - 资本支出 | $-614.0M | $9.8B |
| 自由现金流率自由现金流/营收 | -26.1% | 266.6% |
| 资本支出强度资本支出/营收 | 49.5% | 7.3% |
| 现金转化率经营现金流/净利润 | 2.06× | 13.44× |
| 过去12个月自由现金流最近4个季度 | $-1.4B | $10.8B |
8季度趋势，按日历期对齐
经营现金流PPLSTT
| Q4 25 | $548.0M | $10.0B | ||
| Q3 25 | $966.0M | $7.9B | ||
| Q2 25 | $602.0M | $-8.4B | ||
| Q1 25 | $513.0M | $2.4B | ||
| Q4 24 | $511.0M | $-7.4B | ||
| Q3 24 | $781.0M | $2.7B | ||
| Q2 24 | $766.0M | $-7.6B | ||
| Q1 24 | $282.0M | $-844.0M |
自由现金流PPLSTT
| Q4 25 | $-614.0M | $9.8B | ||
| Q3 25 | $-179.0M | $7.7B | ||
| Q2 25 | $-328.0M | $-8.8B | ||
| Q1 25 | $-280.0M | $2.2B | ||
| Q4 24 | $-349.0M | $-7.7B | ||
| Q3 24 | $102.0M | $2.5B | ||
| Q2 24 | $96.0M | $-7.9B | ||
| Q1 24 | $-314.0M | $-1.1B |
自由现金流率PPLSTT
| Q4 25 | -26.1% | 266.6% | ||
| Q3 25 | -8.0% | 216.0% | ||
| Q2 25 | -16.1% | -254.1% | ||
| Q1 25 | -11.0% | 66.1% | ||
| Q4 24 | -15.9% | -225.1% | ||
| Q3 24 | 4.9% | 75.9% | ||
| Q2 24 | 5.1% | -246.2% | ||
| Q1 24 | -13.6% | -34.2% |
资本支出强度PPLSTT
| Q4 25 | 49.5% | 7.3% | ||
| Q3 25 | 51.2% | 6.9% | ||
| Q2 25 | 45.6% | 9.3% | ||
| Q1 25 | 31.2% | 6.9% | ||
| Q4 24 | 39.3% | 7.3% | ||
| Q3 24 | 32.7% | 7.2% | ||
| Q2 24 | 35.8% | 6.7% | ||
| Q1 24 | 25.9% | 7.3% |
现金转化率PPLSTT
| Q4 25 | 2.06× | 13.44× | ||
| Q3 25 | 3.04× | 9.18× | ||
| Q2 25 | 3.29× | -12.18× | ||
| Q1 25 | 1.24× | 3.72× | ||
| Q4 24 | 2.89× | -9.49× | ||
| Q3 24 | 3.65× | 3.71× | ||
| Q2 24 | 4.03× | -10.75× | ||
| Q1 24 | 0.92× | -1.82× |
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
PPL
| Rhode Island Regulated | $539.0M | 23% |
| Other | $532.0M | 23% |
| Residential | $451.0M | 19% |
| Nonrelated Party | $425.0M | 18% |
| Transmission | $228.0M | 10% |
| Commercial | $117.0M | 5% |
| Wholesale Other | $23.0M | 1% |
| Industrial | $14.0M | 1% |
| Related Party | $13.0M | 1% |
| Wholesale Municipal | $6.0M | 0% |
STT
| Other | $2.2B | 59% |
| Investment Management | $729.0M | 20% |
| Management Services | $662.0M | 18% |
| Other Fee Revenue | $56.0M | 2% |
| Securities Financing Services | $54.0M | 1% |
