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南方铜业（SCCO）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
Vistra Corp.的季度营收约是南方铜业的1.2倍（$4.8B vs $3.9B），南方铜业净利率更高（33.9% vs 4.8%，领先29.0%），南方铜业同比增速更快（39.0% vs 31.2%），南方铜业自由现金流更多（$1.1B vs $596.0M），过去两年Vistra Corp.的营收复合增速更高（23.3% vs 22.0%）
南方铜业注册地为美国特拉华州，总部位于亚利桑那州凤凰城，在秘鲁、墨西哥两地持有多座铜矿、冶炼厂及精炼厂，旗下拥有夸霍内、托克帕拉、布埃纳维斯塔等知名矿山。2024年公司铜产量达21亿磅，同时产出银、钼、锌等多种金属。
股票代码为VST的Vistra Corp是总部位于美国得克萨斯州的能源企业，主营电力生产、可再生能源开发及能源零售等业务。此外“Vistra”也可指一家总部位于中国香港的企业服务提供商，为全球客户提供公司注册、合规管理等专业服务。
SCCO vs VST — 直观对比
营收规模更大
VST
是对方的1.2倍
$3.9B
营收增速更快
SCCO
高出7.8%
31.2%
净利率更高
SCCO
高出29.0%
4.8%
自由现金流更多
SCCO
多$475.7M
$596.0M
两年增速更快
VST
近两年复合增速
22.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.9B | $4.8B |
| 净利润 | $1.3B | $233.0M |
| 毛利率 | 62.0% | — |
| 营业利润率 | 54.5% | 9.9% |
| 净利率 | 33.9% | 4.8% |
| 营收同比 | 39.0% | 31.2% |
| 净利润同比 | 64.7% | -47.2% |
| 每股收益（稀释后） | $1.49 | $0.55 |
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SCCOVST
| Q4 25 | $3.9B | $4.8B | ||
| Q3 25 | $3.4B | $4.8B | ||
| Q2 25 | $3.1B | $3.8B | ||
| Q1 25 | $3.1B | $4.3B | ||
| Q4 24 | $2.8B | $3.7B | ||
| Q3 24 | $2.9B | $4.3B | ||
| Q2 24 | $3.1B | $3.6B | ||
| Q1 24 | $2.6B | $3.2B |
净利润SCCOVST
| Q4 25 | $1.3B | $233.0M | ||
| Q3 25 | $1.1B | $652.0M | ||
| Q2 25 | $976.7M | $327.0M | ||
| Q1 25 | $949.1M | $-268.0M | ||
| Q4 24 | $796.2M | $441.0M | ||
| Q3 24 | $899.8M | $1.9B | ||
| Q2 24 | $953.8M | $365.0M | ||
| Q1 24 | $738.8M | $-35.0M |
毛利率SCCOVST
| Q4 25 | 62.0% | — | ||
| Q3 25 | 59.8% | — | ||
| Q2 25 | 60.3% | — | ||
| Q1 25 | 57.7% | — | ||
| Q4 24 | 56.5% | — | ||
| Q3 24 | 58.3% | — | ||
| Q2 24 | 59.9% | — | ||
| Q1 24 | 55.5% | — |
营业利润率SCCOVST
| Q4 25 | 54.5% | 9.9% | ||
| Q3 25 | 52.4% | 21.7% | ||
| Q2 25 | 52.0% | 13.7% | ||
| Q1 25 | 49.2% | -2.8% | ||
| Q4 24 | 47.0% | 16.4% | ||
| Q3 24 | 49.5% | 59.6% | ||
| Q2 24 | 51.5% | 22.5% | ||
| Q1 24 | 45.8% | 2.7% |
净利率SCCOVST
| Q4 25 | 33.9% | 4.8% | ||
| Q3 25 | 32.9% | 13.6% | ||
| Q2 25 | 32.0% | 8.7% | ||
| Q1 25 | 30.4% | -6.3% | ||
| Q4 24 | 28.6% | 12.0% | ||
| Q3 24 | 30.7% | 43.5% | ||
| Q2 24 | 30.6% | 10.1% | ||
| Q1 24 | 28.4% | -1.1% |
每股收益（稀释后）SCCOVST
| Q4 25 | $1.49 | $0.55 | ||
| Q3 25 | $1.35 | $1.75 | ||
| Q2 25 | $1.21 | $0.81 | ||
| Q1 25 | $1.19 | $-0.93 | ||
| Q4 24 | $1.02 | $1.09 | ||
| Q3 24 | $1.15 | $5.25 | ||
| Q2 24 | $1.22 | $0.90 | ||
| Q1 24 | $0.95 | $-0.24 |
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 | $4.9B | $785.0M |
| 总债务越低越好 | $6.8B | $15.8B |
| 股东权益账面价值 | $11.0B | $5.1B |
| 总资产 | $21.4B | $41.5B |
| 负债/权益比越低杠杆越低 | 0.61× | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资SCCOVST
| Q4 25 | $4.9B | $785.0M | ||
| Q3 25 | $4.5B | $602.0M | ||
| Q2 25 | $4.0B | $458.0M | ||
| Q1 25 | $4.3B | $561.0M | ||
| Q4 24 | $3.5B | $1.2B | ||
| Q3 24 | $3.0B | $905.0M | ||
| Q2 24 | $2.2B | $1.6B | ||
| Q1 24 | $1.6B | $1.1B |
总债务SCCOVST
| Q4 25 | $6.8B | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | $6.3B | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | $6.3B | $13.9B | ||
| Q1 24 | $6.3B | $14.7B |
股东权益SCCOVST
| Q4 25 | $11.0B | $5.1B | ||
| Q3 25 | $10.4B | $5.2B | ||
| Q2 25 | $10.0B | $4.8B | ||
| Q1 25 | $9.6B | $4.8B | ||
| Q4 24 | $9.2B | $5.6B | ||
| Q3 24 | $8.9B | $5.4B | ||
| Q2 24 | $8.5B | $5.6B | ||
| Q1 24 | $7.5B | $5.7B |
总资产SCCOVST
| Q4 25 | $21.4B | $41.5B | ||
| Q3 25 | $20.3B | $38.0B | ||
| Q2 25 | $19.6B | $38.1B | ||
| Q1 25 | $19.8B | $38.2B | ||
| Q4 24 | $18.7B | $37.8B | ||
| Q3 24 | $18.4B | $37.9B | ||
| Q2 24 | $17.8B | $39.1B | ||
| Q1 24 | $16.8B | $38.2B |
负债/权益比SCCOVST
| Q4 25 | 0.61× | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | 0.68× | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | 0.74× | 2.49× | ||
| Q1 24 | 0.83× | 2.60× |
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 | $1.5B | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $1.1B | $596.0M |
| 自由现金流率自由现金流/营收 | 27.7% | 12.4% |
| 资本支出强度资本支出/营收 | 10.9% | 17.4% |
| 现金转化率经营现金流/净利润 | 1.14× | 6.15× |
| 过去12个月自由现金流最近4个季度 | $3.4B | $1.3B |
8季度趋势，按日历期对齐
经营现金流SCCOVST
| Q4 25 | $1.5B | $1.4B | ||
| Q3 25 | $1.6B | $1.5B | ||
| Q2 25 | $976.8M | $572.0M | ||
| Q1 25 | $721.4M | $599.0M | ||
| Q4 24 | $1.4B | $1.4B | ||
| Q3 24 | $1.4B | $1.7B | ||
| Q2 24 | $962.1M | $1.2B | ||
| Q1 24 | $659.7M | $312.0M |
自由现金流SCCOVST
| Q4 25 | $1.1B | $596.0M | ||
| Q3 25 | $1.2B | $1.0B | ||
| Q2 25 | $741.1M | $-118.0M | ||
| Q1 25 | $403.6M | $-169.0M | ||
| Q4 24 | $1.1B | $923.0M | ||
| Q3 24 | $1.2B | $1.0B | ||
| Q2 24 | $630.3M | $698.0M | ||
| Q1 24 | $445.9M | $-153.0M |
自由现金流率SCCOVST
| Q4 25 | 27.7% | 12.4% | ||
| Q3 25 | 35.8% | 21.1% | ||
| Q2 25 | 24.3% | -3.1% | ||
| Q1 25 | 12.9% | -4.0% | ||
| Q4 24 | 40.4% | 25.2% | ||
| Q3 24 | 40.7% | 23.4% | ||
| Q2 24 | 20.2% | 19.4% | ||
| Q1 24 | 17.2% | -4.8% |
资本支出强度SCCOVST
| Q4 25 | 10.9% | 17.4% | ||
| Q3 25 | 10.3% | 9.6% | ||
| Q2 25 | 7.7% | 18.4% | ||
| Q1 25 | 10.2% | 18.1% | ||
| Q4 24 | 8.5% | 11.7% | ||
| Q3 24 | 8.4% | 15.8% | ||
| Q2 24 | 10.6% | 13.8% | ||
| Q1 24 | 8.2% | 14.7% |
现金转化率SCCOVST
| Q4 25 | 1.14× | 6.15× | ||
| Q3 25 | 1.40× | 2.25× | ||
| Q2 25 | 1.00× | 1.75× | ||
| Q1 25 | 0.76× | — | ||
| Q4 24 | 1.71× | 3.07× | ||
| Q3 24 | 1.60× | 0.90× | ||
| Q2 24 | 1.01× | 3.28× | ||
| Q1 24 | 0.89× | — |
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
SCCO
| Other | $1.3B | 32% |
| MX | $726.4M | 19% |
| CH | $560.4M | 14% |
| PE | $218.8M | 6% |
| Silver | $201.1M | 5% |
| BR | $157.9M | 4% |
| CL | $149.0M | 4% |
| Molybdenum | $143.3M | 4% |
| ES | $130.8M | 3% |
| Mexican IMMSA Unit | $129.8M | 3% |
| IT | $107.1M | 3% |
| Zinc | $88.8M | 2% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
