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PPL Corporation（PPL）与Williams Companies（WMB）财务数据对比。点击上方公司名可切换其他公司
Williams Companies的季度营收约是PPL Corporation的1.6倍（$3.8B vs $2.3B），Williams Companies净利率更高（19.1% vs 11.3%，领先7.8%），Williams Companies同比增速更快（12.7% vs 7.2%），Williams Companies自由现金流更多（$-379.0M vs $-614.0M），过去两年Williams Companies的营收复合增速更高（7.3% 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。
总部位于美国俄克拉荷马州塔尔萨的能源企业，位列《财富》美国500强，普通股为标普500指数成分股，核心业务为天然气加工与运输，同时持有石油、发电相关资产。
PPL vs WMB — 直观对比
营收规模更大
WMB
是对方的1.6倍
$2.3B
营收增速更快
WMB
高出5.5%
7.2%
净利率更高
WMB
高出7.8%
11.3%
自由现金流更多
WMB
多$235.0M
$-614.0M
两年增速更快
WMB
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $3.8B |
| 净利润 | $266.0M | $734.0M |
| 毛利率 | — | — |
| 营业利润率 | 20.3% | 27.3% |
| 净利率 | 11.3% | 19.1% |
| 营收同比 | 7.2% | 12.7% |
| 净利润同比 | 50.3% | 51.0% |
| 每股收益（稀释后） | $0.35 | $0.60 |
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PPLWMB
| Q4 25 | $2.3B | $3.8B | ||
| Q3 25 | $2.2B | $3.5B | ||
| Q2 25 | $2.0B | $3.4B | ||
| Q1 25 | $2.5B | $4.2B | ||
| Q4 24 | $2.2B | $3.4B | ||
| Q3 24 | $2.1B | $3.0B | ||
| Q2 24 | $1.9B | $2.8B | ||
| Q1 24 | $2.3B | $3.3B |
净利润PPLWMB
| Q4 25 | $266.0M | $734.0M | ||
| Q3 25 | $318.0M | $647.0M | ||
| Q2 25 | $183.0M | $546.0M | ||
| Q1 25 | $414.0M | $691.0M | ||
| Q4 24 | $177.0M | $486.0M | ||
| Q3 24 | $214.0M | $706.0M | ||
| Q2 24 | $190.0M | $401.0M | ||
| Q1 24 | $307.0M | $632.0M |
营业利润率PPLWMB
| Q4 25 | 20.3% | 27.3% | ||
| Q3 25 | 25.4% | 31.8% | ||
| Q2 25 | 19.9% | 28.0% | ||
| Q1 25 | 26.6% | 26.1% | ||
| Q4 24 | 17.2% | 23.2% | ||
| Q3 24 | 20.6% | 27.6% | ||
| Q2 24 | 20.8% | 24.4% | ||
| Q1 24 | 23.7% | 30.3% |
净利率PPLWMB
| Q4 25 | 11.3% | 19.1% | ||
| Q3 25 | 14.2% | 18.5% | ||
| Q2 25 | 9.0% | 16.2% | ||
| Q1 25 | 16.3% | 16.5% | ||
| Q4 24 | 8.1% | 14.2% | ||
| Q3 24 | 10.3% | 23.3% | ||
| Q2 24 | 10.1% | 14.1% | ||
| Q1 24 | 13.3% | 18.9% |
每股收益（稀释后）PPLWMB
| Q4 25 | $0.35 | $0.60 | ||
| Q3 25 | $0.43 | $0.53 | ||
| Q2 25 | $0.25 | $0.45 | ||
| Q1 25 | $0.56 | $0.56 | ||
| Q4 24 | $0.23 | $0.39 | ||
| Q3 24 | $0.29 | $0.58 | ||
| Q2 24 | $0.26 | $0.33 | ||
| Q1 24 | $0.42 | $0.52 |
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 | $27.3B |
| 股东权益账面价值 | $14.9B | $12.8B |
| 总资产 | $45.2B | $58.6B |
| 负债/权益比越低杠杆越低 | 1.27× | 2.13× |
8季度趋势，按日历期对齐
现金及短期投资PPLWMB
| 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PPLWMB
| Q4 25 | $18.9B | $27.3B | ||
| Q3 25 | — | $25.6B | ||
| Q2 25 | — | $25.6B | ||
| Q1 25 | — | $24.1B | ||
| Q4 24 | $16.5B | $24.7B | ||
| Q3 24 | — | $24.8B | ||
| Q2 24 | — | $24.1B | ||
| Q1 24 | — | $24.1B |
股东权益PPLWMB
| Q4 25 | $14.9B | $12.8B | ||
| Q3 25 | $14.4B | $12.5B | ||
| Q2 25 | $14.3B | $12.4B | ||
| Q1 25 | $14.3B | $12.5B | ||
| Q4 24 | $14.1B | $12.4B | ||
| Q3 24 | $14.1B | $12.4B | ||
| Q2 24 | $14.1B | $12.3B | ||
| Q1 24 | $14.1B | $12.4B |
总资产PPLWMB
| Q4 25 | $45.2B | $58.6B | ||
| Q3 25 | $43.9B | $55.7B | ||
| Q2 25 | $42.4B | $56.1B | ||
| Q1 25 | $41.8B | $54.9B | ||
| Q4 24 | $41.1B | $54.5B | ||
| Q3 24 | $40.5B | $53.8B | ||
| Q2 24 | $39.8B | $52.4B | ||
| Q1 24 | $39.6B | $52.7B |
负债/权益比PPLWMB
| Q4 25 | 1.27× | 2.13× | ||
| Q3 25 | — | 2.04× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | 1.93× | ||
| Q4 24 | 1.17× | 1.99× | ||
| Q3 24 | — | 2.00× | ||
| Q2 24 | — | 1.96× | ||
| Q1 24 | — | 1.94× |
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 | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $-614.0M | $-379.0M |
| 自由现金流率自由现金流/营收 | -26.1% | -9.9% |
| 资本支出强度资本支出/营收 | 49.5% | 50.9% |
| 现金转化率经营现金流/净利润 | 2.06× | 2.15× |
| 过去12个月自由现金流最近4个季度 | $-1.4B | $1.0B |
8季度趋势，按日历期对齐
经营现金流PPLWMB
| Q4 25 | $548.0M | $1.6B | ||
| Q3 25 | $966.0M | $1.4B | ||
| Q2 25 | $602.0M | $1.4B | ||
| Q1 25 | $513.0M | $1.4B | ||
| Q4 24 | $511.0M | $1.2B | ||
| Q3 24 | $781.0M | $1.2B | ||
| Q2 24 | $766.0M | $1.3B | ||
| Q1 24 | $282.0M | $1.2B |
自由现金流PPLWMB
| Q4 25 | $-614.0M | $-379.0M | ||
| Q3 25 | $-179.0M | $485.0M | ||
| Q2 25 | $-328.0M | $478.0M | ||
| Q1 25 | $-280.0M | $421.0M | ||
| Q4 24 | $-349.0M | $450.0M | ||
| Q3 24 | $102.0M | $561.0M | ||
| Q2 24 | $96.0M | $700.0M | ||
| Q1 24 | $-314.0M | $690.0M |
自由现金流率PPLWMB
| Q4 25 | -26.1% | -9.9% | ||
| Q3 25 | -8.0% | 13.9% | ||
| Q2 25 | -16.1% | 14.2% | ||
| Q1 25 | -11.0% | 10.1% | ||
| Q4 24 | -15.9% | 13.2% | ||
| Q3 24 | 4.9% | 18.5% | ||
| Q2 24 | 5.1% | 24.6% | ||
| Q1 24 | -13.6% | 20.7% |
资本支出强度PPLWMB
| Q4 25 | 49.5% | 50.9% | ||
| Q3 25 | 51.2% | 27.3% | ||
| Q2 25 | 45.6% | 28.8% | ||
| Q1 25 | 31.2% | 24.2% | ||
| Q4 24 | 39.3% | 22.5% | ||
| Q3 24 | 32.7% | 22.5% | ||
| Q2 24 | 35.8% | 20.3% | ||
| Q1 24 | 25.9% | 16.3% |
现金转化率PPLWMB
| Q4 25 | 2.06× | 2.15× | ||
| Q3 25 | 3.04× | 2.22× | ||
| Q2 25 | 3.29× | 2.66× | ||
| Q1 25 | 1.24× | 2.07× | ||
| Q4 24 | 2.89× | 2.51× | ||
| Q3 24 | 3.65× | 1.76× | ||
| Q2 24 | 4.03× | 3.19× | ||
| Q1 24 | 0.92× | 1.95× |
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% |
WMB
| Services | $2.2B | 57% |
| Natural Gas Us Regulated | $740.0M | 19% |
| West | $730.0M | 19% |
| Non Regulated Service Commodity Consideration | $51.0M | 1% |
| Natural Gas Gathering Transportation Marketing And Processing | $45.0M | 1% |
| Affiliated Entity | $23.0M | 1% |
| Other | $14.0M | 0% |
| Other Service | $11.0M | 0% |
