vs
PPL Corporation（PPL）与WHITE MOUNTAINS INSURANCE GROUP LTD（WTM）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WHITE MOUNTAINS INSURANCE GROUP LTD的1.5倍（$2.3B vs $1.6B），WHITE MOUNTAINS INSURANCE GROUP LTD净利率更高（52.1% vs 11.3%，领先40.8%），WHITE MOUNTAINS INSURANCE GROUP LTD同比增速更快（348.0% vs 7.2%），过去两年WHITE MOUNTAINS INSURANCE GROUP LTD的营收复合增速更高（57.4% 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。
怀特山保险集团是一家多元化保险及相关金融服务控股企业，总部位于百慕大汉密尔顿，1999年10月25日从美国特拉华州迁册至当前注册地，大部分业务通过旗下保险子公司及其他关联机构开展，覆盖多个保险及金融服务细分赛道。
PPL vs WTM — 直观对比
营收规模更大
PPL
是对方的1.5倍
$1.6B
营收增速更快
WTM
高出340.8%
7.2%
净利率更高
WTM
高出40.8%
11.3%
两年增速更快
WTM
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $1.6B |
| 净利润 | $266.0M | $835.8M |
| 毛利率 | — | 97.1% |
| 营业利润率 | 20.3% | 56.2% |
| 净利率 | 11.3% | 52.1% |
| 营收同比 | 7.2% | 348.0% |
| 净利润同比 | 50.3% | 741.0% |
| 每股收益（稀释后） | $0.35 | $325.02 |
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PPLWTM
| Q4 25 | $2.3B | $1.6B | ||
| Q3 25 | $2.2B | $864.2M | ||
| Q2 25 | $2.0B | $689.2M | ||
| Q1 25 | $2.5B | $577.8M | ||
| Q4 24 | $2.2B | $358.0M | ||
| Q3 24 | $2.1B | $839.1M | ||
| Q2 24 | $1.9B | $395.4M | ||
| Q1 24 | $2.3B | $647.3M |
净利润PPLWTM
| Q4 25 | $266.0M | $835.8M | ||
| Q3 25 | $318.0M | $113.8M | ||
| Q2 25 | $183.0M | $122.9M | ||
| Q1 25 | $414.0M | $33.9M | ||
| Q4 24 | $177.0M | $-130.4M | ||
| Q3 24 | $214.0M | $179.0M | ||
| Q2 24 | $190.0M | $-54.6M | ||
| Q1 24 | $307.0M | $236.4M |
毛利率PPLWTM
| Q4 25 | — | 97.1% | ||
| Q3 25 | — | 93.6% | ||
| Q2 25 | — | 93.8% | ||
| Q1 25 | — | 98.7% | ||
| Q4 24 | — | 97.9% | ||
| Q3 24 | — | 99.1% | ||
| Q2 24 | — | 98.2% | ||
| Q1 24 | — | 98.8% |
营业利润率PPLWTM
| Q4 25 | 20.3% | 56.2% | ||
| Q3 25 | 25.4% | 20.7% | ||
| Q2 25 | 19.9% | 25.6% | ||
| Q1 25 | 26.6% | 12.5% | ||
| Q4 24 | 17.2% | -33.7% | ||
| Q3 24 | 20.6% | 28.5% | ||
| Q2 24 | 20.8% | -8.8% | ||
| Q1 24 | 23.7% | 35.9% |
净利率PPLWTM
| Q4 25 | 11.3% | 52.1% | ||
| Q3 25 | 14.2% | 13.2% | ||
| Q2 25 | 9.0% | 17.8% | ||
| Q1 25 | 16.3% | 5.9% | ||
| Q4 24 | 8.1% | -36.4% | ||
| Q3 24 | 10.3% | 21.3% | ||
| Q2 24 | 10.1% | -13.8% | ||
| Q1 24 | 13.3% | 36.5% |
每股收益（稀释后）PPLWTM
| Q4 25 | $0.35 | $325.02 | ||
| Q3 25 | $0.43 | $44.18 | ||
| Q2 25 | $0.25 | $47.75 | ||
| Q1 25 | $0.56 | $13.19 | ||
| Q4 24 | $0.23 | $-50.98 | ||
| Q3 24 | $0.29 | $69.68 | ||
| Q2 24 | $0.26 | $-21.24 | ||
| Q1 24 | $0.42 | $92.33 |
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 | $837.0M |
| 股东权益账面价值 | $14.9B | $5.4B |
| 总资产 | $45.2B | $12.3B |
| 负债/权益比越低杠杆越低 | 1.27× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资PPLWTM
| 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PPLWTM
| Q4 25 | $18.9B | $837.0M | ||
| Q3 25 | — | $870.4M | ||
| Q2 25 | — | $694.6M | ||
| Q1 25 | — | $676.1M | ||
| Q4 24 | $16.5B | $562.5M | ||
| Q3 24 | — | $544.9M | ||
| Q2 24 | — | $530.2M | ||
| Q1 24 | — | $532.1M |
股东权益PPLWTM
| Q4 25 | $14.9B | $5.4B | ||
| Q3 25 | $14.4B | $4.8B | ||
| Q2 25 | $14.3B | $4.6B | ||
| Q1 25 | $14.3B | $4.5B | ||
| Q4 24 | $14.1B | $4.5B | ||
| Q3 24 | $14.1B | $4.6B | ||
| Q2 24 | $14.1B | $4.4B | ||
| Q1 24 | $14.1B | $4.5B |
总资产PPLWTM
| Q4 25 | $45.2B | $12.3B | ||
| Q3 25 | $43.9B | $12.3B | ||
| Q2 25 | $42.4B | $11.8B | ||
| Q1 25 | $41.8B | $11.0B | ||
| Q4 24 | $41.1B | $9.9B | ||
| Q3 24 | $40.5B | $10.3B | ||
| Q2 24 | $39.8B | $10.2B | ||
| Q1 24 | $39.6B | $9.6B |
负债/权益比PPLWTM
| Q4 25 | 1.27× | 0.15× | ||
| Q3 25 | — | 0.18× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | 1.17× | 0.13× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
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 | $53.9M |
| 自由现金流经营现金流 - 资本支出 | $-614.0M | — |
| 自由现金流率自由现金流/营收 | -26.1% | — |
| 资本支出强度资本支出/营收 | 49.5% | — |
| 现金转化率经营现金流/净利润 | 2.06× | 0.06× |
| 过去12个月自由现金流最近4个季度 | $-1.4B | — |
8季度趋势，按日历期对齐
经营现金流PPLWTM
| Q4 25 | $548.0M | $53.9M | ||
| Q3 25 | $966.0M | $359.3M | ||
| Q2 25 | $602.0M | $177.5M | ||
| Q1 25 | $513.0M | $-40.2M | ||
| Q4 24 | $511.0M | $64.1M | ||
| Q3 24 | $781.0M | $269.4M | ||
| Q2 24 | $766.0M | $216.8M | ||
| Q1 24 | $282.0M | $36.5M |
自由现金流PPLWTM
| Q4 25 | $-614.0M | — | ||
| Q3 25 | $-179.0M | — | ||
| Q2 25 | $-328.0M | — | ||
| Q1 25 | $-280.0M | — | ||
| Q4 24 | $-349.0M | — | ||
| Q3 24 | $102.0M | — | ||
| Q2 24 | $96.0M | — | ||
| Q1 24 | $-314.0M | — |
自由现金流率PPLWTM
| Q4 25 | -26.1% | — | ||
| Q3 25 | -8.0% | — | ||
| Q2 25 | -16.1% | — | ||
| Q1 25 | -11.0% | — | ||
| Q4 24 | -15.9% | — | ||
| Q3 24 | 4.9% | — | ||
| Q2 24 | 5.1% | — | ||
| Q1 24 | -13.6% | — |
资本支出强度PPLWTM
| Q4 25 | 49.5% | — | ||
| Q3 25 | 51.2% | — | ||
| Q2 25 | 45.6% | — | ||
| Q1 25 | 31.2% | — | ||
| Q4 24 | 39.3% | — | ||
| Q3 24 | 32.7% | — | ||
| Q2 24 | 35.8% | — | ||
| Q1 24 | 25.9% | — |
现金转化率PPLWTM
| Q4 25 | 2.06× | 0.06× | ||
| Q3 25 | 3.04× | 3.16× | ||
| Q2 25 | 3.29× | 1.44× | ||
| Q1 25 | 1.24× | -1.19× | ||
| Q4 24 | 2.89× | — | ||
| Q3 24 | 3.65× | 1.51× | ||
| Q2 24 | 4.03× | — | ||
| Q1 24 | 0.92× | 0.15× |
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% |
WTM
暂无分部数据
