vs
SPIRE INC（SR）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是SPIRE INC的5.8倍（$4.4B vs $762.2M）。标普全球净利率更高（26.8% vs 12.5%，领先14.3%）。标普全球同比增速更快（191.7% vs 13.9%）。SPIRE INC自由现金流更多（$-121.8M vs $-1.5B）。过去两年标普全球的营收复合增速更高（77.3% vs -17.8%）
Spire Inc是总部位于美国密苏里州圣路易斯的区域公用事业控股公司，核心业务为受监管的天然气供应服务，同时布局非监管类业务拓展商业机会。旗下主要子公司Laclede Gas Company是密苏里州最大的天然气分销公用事业企业，为圣路易斯市及密苏里州东部10个县的约63.1万户住宅、商业及工业客户提供服务。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
SR vs VG — 直观对比
营收规模更大
VG
是对方的5.8倍
$762.2M
营收增速更快
VG
高出177.8%
13.9%
净利率更高
VG
高出14.3%
12.5%
自由现金流更多
SR
多$1.4B
$-1.5B
两年增速更快
VG
近两年复合增速
-17.8%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $762.2M | $4.4B |
| 净利润 | $95.0M | $1.2B |
| 毛利率 | 55.1% | — |
| 营业利润率 | 22.8% | 38.7% |
| 净利率 | 12.5% | 26.8% |
| 营收同比 | 13.9% | 191.7% |
| 净利润同比 | 16.9% | 20.3% |
| 每股收益（稀释后） | $1.54 | $0.41 |
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SRVG
| Q4 25 | $762.2M | $4.4B | ||
| Q3 25 | $334.1M | $3.3B | ||
| Q2 25 | $421.9M | $3.1B | ||
| Q1 25 | $1.1B | $2.9B | ||
| Q4 24 | $669.1M | $1.5B | ||
| Q3 24 | $293.8M | $926.0M | ||
| Q2 24 | $414.1M | $1.1B | ||
| Q1 24 | $1.1B | $1.4B |
净利润SRVG
| Q4 25 | $95.0M | $1.2B | ||
| Q3 25 | $-39.8M | $550.0M | ||
| Q2 25 | $20.9M | $475.0M | ||
| Q1 25 | $209.3M | $517.0M | ||
| Q4 24 | $81.3M | $990.0M | ||
| Q3 24 | $-25.9M | $-294.0M | ||
| Q2 24 | $-12.6M | $352.0M | ||
| Q1 24 | $204.3M | $698.0M |
毛利率SRVG
| Q4 25 | 55.1% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 55.6% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率SRVG
| Q4 25 | 22.8% | 38.7% | ||
| Q3 25 | -0.1% | 39.7% | ||
| Q2 25 | 16.4% | 33.5% | ||
| Q1 25 | 29.1% | 37.3% | ||
| Q4 24 | 22.2% | 39.0% | ||
| Q3 24 | 6.7% | 20.4% | ||
| Q2 24 | 7.4% | 32.8% | ||
| Q1 24 | 26.5% | 43.6% |
净利率SRVG
| Q4 25 | 12.5% | 26.8% | ||
| Q3 25 | -11.9% | 16.5% | ||
| Q2 25 | 5.0% | 15.3% | ||
| Q1 25 | 19.9% | 17.9% | ||
| Q4 24 | 12.2% | 65.0% | ||
| Q3 24 | -8.8% | -31.7% | ||
| Q2 24 | -3.0% | 31.8% | ||
| Q1 24 | 18.1% | 49.4% |
每股收益（稀释后）SRVG
| Q4 25 | $1.54 | $0.41 | ||
| Q3 25 | $-0.77 | $0.16 | ||
| Q2 25 | $0.29 | $0.14 | ||
| Q1 25 | $3.51 | $0.15 | ||
| Q4 24 | $1.34 | $0.35 | ||
| Q3 24 | $-0.63 | $-0.15 | ||
| Q2 24 | $-0.28 | $0.12 | ||
| Q1 24 | $3.58 | $0.25 |
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 | $4.1M | $2.4B |
| 总债务越低越好 | — | $34.2B |
| 股东权益账面价值 | $3.4B | $6.7B |
| 总资产 | $11.9B | $53.4B |
| 负债/权益比越低杠杆越低 | — | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资SRVG
| Q4 25 | $4.1M | $2.4B | ||
| Q3 25 | $5.7M | $1.9B | ||
| Q2 25 | $13.1M | $2.2B | ||
| Q1 25 | $15.2M | $3.6B | ||
| Q4 24 | $11.5M | $3.6B | ||
| Q3 24 | $4.5M | — | ||
| Q2 24 | $7.4M | — | ||
| Q1 24 | $25.6M | — |
总债务SRVG
| Q4 25 | — | $34.2B | ||
| Q3 25 | — | $32.6B | ||
| Q2 25 | — | $30.0B | ||
| Q1 25 | — | $29.3B | ||
| Q4 24 | — | $29.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益SRVG
| Q4 25 | $3.4B | $6.7B | ||
| Q3 25 | $3.4B | $5.7B | ||
| Q2 25 | $3.5B | $5.3B | ||
| Q1 25 | $3.5B | $4.9B | ||
| Q4 24 | $3.3B | $2.9B | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.3B | — | ||
| Q1 24 | $3.4B | — |
总资产SRVG
| Q4 25 | $11.9B | $53.4B | ||
| Q3 25 | $11.6B | $50.1B | ||
| Q2 25 | $11.4B | $46.5B | ||
| Q1 25 | $11.3B | $45.1B | ||
| Q4 24 | $11.3B | $43.5B | ||
| Q3 24 | $10.9B | — | ||
| Q2 24 | $10.7B | — | ||
| Q1 24 | $10.7B | — |
负债/权益比SRVG
| Q4 25 | — | 5.07× | ||
| Q3 25 | — | 5.73× | ||
| Q2 25 | — | 5.69× | ||
| Q1 25 | — | 6.01× | ||
| Q4 24 | — | 10.11× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $81.0M | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $-121.8M | $-1.5B |
| 自由现金流率自由现金流/营收 | -16.0% | -34.1% |
| 资本支出强度资本支出/营收 | 26.6% | 81.6% |
| 现金转化率经营现金流/净利润 | 0.85× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $-286.7M | $-6.8B |
8季度趋势，按日历期对齐
经营现金流SRVG
| Q4 25 | $81.0M | $2.1B | ||
| Q3 25 | $-4.9M | $1.9B | ||
| Q2 25 | $129.1M | $1.5B | ||
| Q1 25 | $372.7M | $1.1B | ||
| Q4 24 | $81.1M | — | ||
| Q3 24 | $82.9M | — | ||
| Q2 24 | $270.1M | — | ||
| Q1 24 | $489.4M | $638.0M |
自由现金流SRVG
| Q4 25 | $-121.8M | $-1.5B | ||
| Q3 25 | $-227.6M | $-1.4B | ||
| Q2 25 | $-91.4M | $-1.5B | ||
| Q1 25 | $154.1M | $-2.4B | ||
| Q4 24 | $-179.5M | — | ||
| Q3 24 | $-146.9M | — | ||
| Q2 24 | $47.9M | — | ||
| Q1 24 | $306.6M | $-2.4B |
自由现金流率SRVG
| Q4 25 | -16.0% | -34.1% | ||
| Q3 25 | -68.1% | -42.4% | ||
| Q2 25 | -21.7% | -49.1% | ||
| Q1 25 | 14.7% | -81.3% | ||
| Q4 24 | -26.8% | — | ||
| Q3 24 | -50.0% | — | ||
| Q2 24 | 11.6% | — | ||
| Q1 24 | 27.2% | -167.3% |
资本支出强度SRVG
| Q4 25 | 26.6% | 81.6% | ||
| Q3 25 | 66.7% | 98.9% | ||
| Q2 25 | 52.3% | 96.1% | ||
| Q1 25 | 20.8% | 119.8% | ||
| Q4 24 | 38.9% | — | ||
| Q3 24 | 78.2% | — | ||
| Q2 24 | 53.7% | — | ||
| Q1 24 | 16.2% | 212.4% |
现金转化率SRVG
| Q4 25 | 0.85× | 1.77× | ||
| Q3 25 | — | 3.42× | ||
| Q2 25 | 6.18× | 3.07× | ||
| Q1 25 | 1.78× | 2.15× | ||
| Q4 24 | 1.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.40× | 0.91× |
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
SR
| Residential | $474.9M | 62% |
| Commercial And Industrial | $148.4M | 19% |
| Gas Marketing | $41.1M | 5% |
| Midstream | $39.0M | 5% |
| Transportation | $37.1M | 5% |
| Offsystem And Other Inventive | $19.7M | 3% |
| Other Customer Revenue | $4.6M | 1% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
