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PPL Corporation（PPL）与泰佩思琦（TPR）财务数据对比。点击上方公司名可切换其他公司
泰佩思琦的季度营收约是PPL Corporation的1.1倍（$2.5B vs $2.3B），泰佩思琦净利率更高（22.4% vs 11.3%，领先11.1%），泰佩思琦同比增速更快（14.0% vs 7.2%），泰佩思琦自由现金流更多（$1.0B vs $-614.0M），过去两年泰佩思琦的营收复合增速更高（29.9% 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。
Tapestry, Inc.是美国知名跨国奢侈品时尚控股企业，旗下拥有Coach、Kate Spade New York、Stuart Weitzman三大标志性生活方式品牌，主营高端手袋、服饰、鞋履、配饰及香水产品，销售渠道覆盖全球线下门店与线上电商平台。
PPL vs TPR — 直观对比
营收规模更大
TPR
是对方的1.1倍
$2.3B
营收增速更快
TPR
高出6.8%
7.2%
净利率更高
TPR
高出11.1%
11.3%
自由现金流更多
TPR
多$1.7B
$-614.0M
两年增速更快
TPR
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $2.5B |
| 净利润 | $266.0M | $561.3M |
| 毛利率 | — | 75.5% |
| 营业利润率 | 20.3% | 28.6% |
| 净利率 | 11.3% | 22.4% |
| 营收同比 | 7.2% | 14.0% |
| 净利润同比 | 50.3% | 80.8% |
| 每股收益（稀释后） | $0.35 | $2.68 |
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PPLTPR
| Q4 25 | $2.3B | $2.5B | ||
| Q3 25 | $2.2B | $1.7B | ||
| Q2 25 | $2.0B | $1.7B | ||
| Q1 25 | $2.5B | $1.6B | ||
| Q4 24 | $2.2B | $2.2B | ||
| Q3 24 | $2.1B | $1.5B | ||
| Q2 24 | $1.9B | $1.6B | ||
| Q1 24 | $2.3B | $1.5B |
净利润PPLTPR
| Q4 25 | $266.0M | $561.3M | ||
| Q3 25 | $318.0M | $274.8M | ||
| Q2 25 | $183.0M | $-517.1M | ||
| Q1 25 | $414.0M | $203.3M | ||
| Q4 24 | $177.0M | $310.4M | ||
| Q3 24 | $214.0M | $186.6M | ||
| Q2 24 | $190.0M | $159.3M | ||
| Q1 24 | $307.0M | $139.4M |
毛利率PPLTPR
| Q4 25 | — | 75.5% | ||
| Q3 25 | — | 76.3% | ||
| Q2 25 | — | 76.3% | ||
| Q1 25 | — | 76.1% | ||
| Q4 24 | — | 74.4% | ||
| Q3 24 | — | 75.3% | ||
| Q2 24 | — | 74.9% | ||
| Q1 24 | — | 74.7% |
营业利润率PPLTPR
| Q4 25 | 20.3% | 28.6% | ||
| Q3 25 | 25.4% | 19.3% | ||
| Q2 25 | 19.9% | -33.9% | ||
| Q1 25 | 26.6% | 16.0% | ||
| Q4 24 | 17.2% | 22.4% | ||
| Q3 24 | 20.6% | 16.7% | ||
| Q2 24 | 20.8% | 14.8% | ||
| Q1 24 | 23.7% | 13.8% |
净利率PPLTPR
| Q4 25 | 11.3% | 22.4% | ||
| Q3 25 | 14.2% | 16.1% | ||
| Q2 25 | 9.0% | -30.0% | ||
| Q1 25 | 16.3% | 12.8% | ||
| Q4 24 | 8.1% | 14.1% | ||
| Q3 24 | 10.3% | 12.4% | ||
| Q2 24 | 10.1% | 10.0% | ||
| Q1 24 | 13.3% | 9.4% |
每股收益（稀释后）PPLTPR
| Q4 25 | $0.35 | $2.68 | ||
| Q3 25 | $0.43 | $1.28 | ||
| Q2 25 | $0.25 | $-2.30 | ||
| Q1 25 | $0.56 | $0.95 | ||
| Q4 24 | $0.23 | $1.38 | ||
| Q3 24 | $0.29 | $0.79 | ||
| Q2 24 | $0.26 | $0.67 | ||
| Q1 24 | $0.42 | $0.60 |
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 | $1.1B |
| 总债务越低越好 | $18.9B | $2.4B |
| 股东权益账面价值 | $14.9B | $551.2M |
| 总资产 | $45.2B | $6.5B |
| 负债/权益比越低杠杆越低 | 1.27× | 4.32× |
8季度趋势，按日历期对齐
现金及短期投资PPLTPR
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.1B | $743.2M | ||
| Q2 25 | $294.0M | $1.1B | ||
| Q1 25 | $312.0M | $1.1B | ||
| Q4 24 | $306.0M | $1.0B | ||
| Q3 24 | $542.0M | $7.3B | ||
| Q2 24 | $282.0M | $7.2B | ||
| Q1 24 | $276.0M | $7.4B |
总债务PPLTPR
| Q4 25 | $18.9B | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | $16.5B | $2.4B | ||
| Q3 24 | — | $7.0B | ||
| Q2 24 | — | $6.9B | ||
| Q1 24 | — | $7.7B |
股东权益PPLTPR
| Q4 25 | $14.9B | $551.2M | ||
| Q3 25 | $14.4B | $399.5M | ||
| Q2 25 | $14.3B | $857.8M | ||
| Q1 25 | $14.3B | $1.5B | ||
| Q4 24 | $14.1B | $1.3B | ||
| Q3 24 | $14.1B | $3.0B | ||
| Q2 24 | $14.1B | $2.9B | ||
| Q1 24 | $14.1B | $2.8B |
总资产PPLTPR
| Q4 25 | $45.2B | $6.5B | ||
| Q3 25 | $43.9B | $6.4B | ||
| Q2 25 | $42.4B | $6.6B | ||
| Q1 25 | $41.8B | $7.3B | ||
| Q4 24 | $41.1B | $7.3B | ||
| Q3 24 | $40.5B | $13.7B | ||
| Q2 24 | $39.8B | $13.4B | ||
| Q1 24 | $39.6B | $13.7B |
负债/权益比PPLTPR
| Q4 25 | 1.27× | 4.32× | ||
| Q3 25 | — | 5.95× | ||
| Q2 25 | — | 2.77× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | 1.17× | 1.78× | ||
| Q3 24 | — | 2.35× | ||
| Q2 24 | — | 2.39× | ||
| Q1 24 | — | 2.77× |
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 | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $-614.0M | $1.0B |
| 自由现金流率自由现金流/营收 | -26.1% | 41.5% |
| 资本支出强度资本支出/营收 | 49.5% | 1.7% |
| 现金转化率经营现金流/净利润 | 2.06× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $-1.4B | $1.6B |
8季度趋势，按日历期对齐
经营现金流PPLTPR
| Q4 25 | $548.0M | $1.1B | ||
| Q3 25 | $966.0M | $112.6M | ||
| Q2 25 | $602.0M | $446.8M | ||
| Q1 25 | $513.0M | $144.3M | ||
| Q4 24 | $511.0M | $506.0M | ||
| Q3 24 | $781.0M | $119.5M | ||
| Q2 24 | $766.0M | $256.0M | ||
| Q1 24 | $282.0M | $97.8M |
自由现金流PPLTPR
| Q4 25 | $-614.0M | $1.0B | ||
| Q3 25 | $-179.0M | $80.2M | ||
| Q2 25 | $-328.0M | $411.5M | ||
| Q1 25 | $-280.0M | $113.4M | ||
| Q4 24 | $-349.0M | $475.1M | ||
| Q3 24 | $102.0M | $93.9M | ||
| Q2 24 | $96.0M | $209.8M | ||
| Q1 24 | $-314.0M | $78.8M |
自由现金流率PPLTPR
| Q4 25 | -26.1% | 41.5% | ||
| Q3 25 | -8.0% | 4.7% | ||
| Q2 25 | -16.1% | 23.9% | ||
| Q1 25 | -11.0% | 7.2% | ||
| Q4 24 | -15.9% | 21.6% | ||
| Q3 24 | 4.9% | 6.2% | ||
| Q2 24 | 5.1% | 13.2% | ||
| Q1 24 | -13.6% | 5.3% |
资本支出强度PPLTPR
| Q4 25 | 49.5% | 1.7% | ||
| Q3 25 | 51.2% | 1.9% | ||
| Q2 25 | 45.6% | 2.0% | ||
| Q1 25 | 31.2% | 2.0% | ||
| Q4 24 | 39.3% | 1.4% | ||
| Q3 24 | 32.7% | 1.7% | ||
| Q2 24 | 35.8% | 2.9% | ||
| Q1 24 | 25.9% | 1.3% |
现金转化率PPLTPR
| Q4 25 | 2.06× | 1.93× | ||
| Q3 25 | 3.04× | 0.41× | ||
| Q2 25 | 3.29× | — | ||
| Q1 25 | 1.24× | 0.71× | ||
| Q4 24 | 2.89× | 1.63× | ||
| Q3 24 | 3.65× | 0.64× | ||
| Q2 24 | 4.03× | 1.61× | ||
| Q1 24 | 0.92× | 0.70× |
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% |
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
