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PPL Corporation（PPL）与TUTOR PERINI CORP（TPC）财务数据对比。点击上方公司名可切换其他公司
PPL Corporation的季度营收约是TUTOR PERINI CORP的1.6倍（$2.3B vs $1.5B），PPL Corporation净利率更高（11.3% vs 1.9%，领先9.4%），TUTOR PERINI CORP同比增速更快（41.2% vs 7.2%），TUTOR PERINI CORP自由现金流更多（$98.7M vs $-614.0M），过去两年TUTOR PERINI CORP的营收复合增速更高（19.9% 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。
Tutor Perini集团是美国顶尖的大型总承包商之一，2008年由Perini公司与Tutor-Saliba公司合并成立，总部位于加利福尼亚州西尔马。公司业务覆盖北美全境，2024年营收约43.3亿美元，核心业务涵盖桥梁、公路、隧道、机场、公共交通系统等民用基建项目，同时也涉足建筑工程领域。
PPL vs TPC — 直观对比
营收规模更大
PPL
是对方的1.6倍
$1.5B
营收增速更快
TPC
高出34.0%
7.2%
净利率更高
PPL
高出9.4%
1.9%
自由现金流更多
TPC
多$712.7M
$-614.0M
两年增速更快
TPC
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $1.5B |
| 净利润 | $266.0M | $28.8M |
| 毛利率 | — | 9.8% |
| 营业利润率 | 20.3% | 3.3% |
| 净利率 | 11.3% | 1.9% |
| 营收同比 | 7.2% | 41.2% |
| 净利润同比 | 50.3% | 136.3% |
| 每股收益（稀释后） | $0.35 | $0.53 |
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PPLTPC
| Q4 25 | $2.3B | $1.5B | ||
| Q3 25 | $2.2B | $1.4B | ||
| Q2 25 | $2.0B | $1.4B | ||
| Q1 25 | $2.5B | $1.2B | ||
| Q4 24 | $2.2B | $1.1B | ||
| Q3 24 | $2.1B | $1.1B | ||
| Q2 24 | $1.9B | $1.1B | ||
| Q1 24 | $2.3B | $1.0B |
净利润PPLTPC
| Q4 25 | $266.0M | $28.8M | ||
| Q3 25 | $318.0M | $3.6M | ||
| Q2 25 | $183.0M | $20.0M | ||
| Q1 25 | $414.0M | $28.0M | ||
| Q4 24 | $177.0M | $-79.4M | ||
| Q3 24 | $214.0M | $-100.9M | ||
| Q2 24 | $190.0M | $812.0K | ||
| Q1 24 | $307.0M | $15.8M |
毛利率PPLTPC
| Q4 25 | — | 9.8% | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | — | 14.3% | ||
| Q1 25 | — | 10.8% | ||
| Q4 24 | — | -0.9% | ||
| Q3 24 | — | -2.4% | ||
| Q2 24 | — | 10.4% | ||
| Q1 24 | — | 11.0% |
营业利润率PPLTPC
| Q4 25 | 20.3% | 3.3% | ||
| Q3 25 | 25.4% | 2.8% | ||
| Q2 25 | 19.9% | 5.6% | ||
| Q1 25 | 26.6% | 5.2% | ||
| Q4 24 | 17.2% | -8.1% | ||
| Q3 24 | 20.6% | -9.9% | ||
| Q2 24 | 20.8% | 3.6% | ||
| Q1 24 | 23.7% | 4.7% |
净利率PPLTPC
| Q4 25 | 11.3% | 1.9% | ||
| Q3 25 | 14.2% | 0.3% | ||
| Q2 25 | 9.0% | 1.5% | ||
| Q1 25 | 16.3% | 2.2% | ||
| Q4 24 | 8.1% | -7.4% | ||
| Q3 24 | 10.3% | -9.3% | ||
| Q2 24 | 10.1% | 0.1% | ||
| Q1 24 | 13.3% | 1.5% |
每股收益（稀释后）PPLTPC
| Q4 25 | $0.35 | $0.53 | ||
| Q3 25 | $0.43 | $0.07 | ||
| Q2 25 | $0.25 | $0.38 | ||
| Q1 25 | $0.56 | $0.53 | ||
| Q4 24 | $0.23 | $-1.53 | ||
| Q3 24 | $0.29 | $-1.92 | ||
| Q2 24 | $0.26 | $0.02 | ||
| Q1 24 | $0.42 | $0.30 |
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 | $734.6M |
| 总债务越低越好 | $18.9B | $407.4M |
| 股东权益账面价值 | $14.9B | $1.2B |
| 总资产 | $45.2B | $5.2B |
| 负债/权益比越低杠杆越低 | 1.27× | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资PPLTPC
| Q4 25 | $1.1B | $734.6M | ||
| Q3 25 | $1.1B | $695.7M | ||
| Q2 25 | $294.0M | $526.1M | ||
| Q1 25 | $312.0M | $276.5M | ||
| Q4 24 | $306.0M | $455.1M | ||
| Q3 24 | $542.0M | $287.4M | ||
| Q2 24 | $282.0M | $267.1M | ||
| Q1 24 | $276.0M | $358.3M |
总债务PPLTPC
| Q4 25 | $18.9B | $407.4M | ||
| Q3 25 | — | $413.1M | ||
| Q2 25 | — | $419.4M | ||
| Q1 25 | — | $405.6M | ||
| Q4 24 | $16.5B | $534.1M | ||
| Q3 24 | — | $681.4M | ||
| Q2 24 | — | $676.4M | ||
| Q1 24 | — | $801.2M |
股东权益PPLTPC
| Q4 25 | $14.9B | $1.2B | ||
| Q3 25 | $14.4B | $1.2B | ||
| Q2 25 | $14.3B | $1.2B | ||
| Q1 25 | $14.3B | $1.2B | ||
| Q4 24 | $14.1B | $1.1B | ||
| Q3 24 | $14.1B | $1.2B | ||
| Q2 24 | $14.1B | $1.3B | ||
| Q1 24 | $14.1B | $1.3B |
总资产PPLTPC
| Q4 25 | $45.2B | $5.2B | ||
| Q3 25 | $43.9B | $5.2B | ||
| Q2 25 | $42.4B | $4.9B | ||
| Q1 25 | $41.8B | $4.5B | ||
| Q4 24 | $41.1B | $4.2B | ||
| Q3 24 | $40.5B | $4.4B | ||
| Q2 24 | $39.8B | $4.3B | ||
| Q1 24 | $39.6B | $4.4B |
负债/权益比PPLTPC
| Q4 25 | 1.27× | 0.33× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | 1.17× | 0.47× | ||
| Q3 24 | — | 0.56× | ||
| Q2 24 | — | 0.52× | ||
| Q1 24 | — | 0.61× |
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 | $173.7M |
| 自由现金流经营现金流 - 资本支出 | $-614.0M | $98.7M |
| 自由现金流率自由现金流/营收 | -26.1% | 6.5% |
| 资本支出强度资本支出/营收 | 49.5% | 5.0% |
| 现金转化率经营现金流/净利润 | 2.06× | 6.02× |
| 过去12个月自由现金流最近4个季度 | $-1.4B | $567.2M |
8季度趋势，按日历期对齐
经营现金流PPLTPC
| Q4 25 | $548.0M | $173.7M | ||
| Q3 25 | $966.0M | $289.1M | ||
| Q2 25 | $602.0M | $262.4M | ||
| Q1 25 | $513.0M | $22.9M | ||
| Q4 24 | $511.0M | $329.6M | ||
| Q3 24 | $781.0M | $22.6M | ||
| Q2 24 | $766.0M | $53.1M | ||
| Q1 24 | $282.0M | $98.3M |
自由现金流PPLTPC
| Q4 25 | $-614.0M | $98.7M | ||
| Q3 25 | $-179.0M | $240.2M | ||
| Q2 25 | $-328.0M | $235.6M | ||
| Q1 25 | $-280.0M | $-7.2M | ||
| Q4 24 | $-349.0M | $320.4M | ||
| Q3 24 | $102.0M | $15.6M | ||
| Q2 24 | $96.0M | $42.2M | ||
| Q1 24 | $-314.0M | $87.8M |
自由现金流率PPLTPC
| Q4 25 | -26.1% | 6.5% | ||
| Q3 25 | -8.0% | 17.0% | ||
| Q2 25 | -16.1% | 17.1% | ||
| Q1 25 | -11.0% | -0.6% | ||
| Q4 24 | -15.9% | 30.0% | ||
| Q3 24 | 4.9% | 1.4% | ||
| Q2 24 | 5.1% | 3.7% | ||
| Q1 24 | -13.6% | 8.4% |
资本支出强度PPLTPC
| Q4 25 | 49.5% | 5.0% | ||
| Q3 25 | 51.2% | 3.5% | ||
| Q2 25 | 45.6% | 2.0% | ||
| Q1 25 | 31.2% | 2.4% | ||
| Q4 24 | 39.3% | 0.9% | ||
| Q3 24 | 32.7% | 0.6% | ||
| Q2 24 | 35.8% | 1.0% | ||
| Q1 24 | 25.9% | 1.0% |
现金转化率PPLTPC
| Q4 25 | 2.06× | 6.02× | ||
| Q3 25 | 3.04× | 79.63× | ||
| Q2 25 | 3.29× | 13.14× | ||
| Q1 25 | 1.24× | 0.82× | ||
| Q4 24 | 2.89× | — | ||
| Q3 24 | 3.65× | — | ||
| Q2 24 | 4.03× | 65.44× | ||
| Q1 24 | 0.92× | 6.24× |
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% |
TPC
| State And Local Agencies | $591.1M | 39% |
| Mass Transit | $449.9M | 30% |
| Federal Agencies | $115.0M | 8% |
| Bridges | $100.5M | 7% |
| Military Facilities | $93.1M | 6% |
| Commercial And Industrial Facilities | $46.7M | 3% |
| Detention Facilities | $43.8M | 3% |
| Power And Energy | $35.8M | 2% |
| Multi Unit Residential | $25.9M | 2% |
| Education Facilities | $12.0M | 1% |
| Water | $3.6M | 0% |
