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SPIRE INC（SR）与WillScot Holdings Corp（WSC）财务数据对比。点击上方公司名可切换其他公司
SPIRE INC的季度营收约是WillScot Holdings Corp的1.3倍（$762.2M vs $566.0M），SPIRE INC净利率更高（12.5% vs -33.1%，领先45.6%），SPIRE INC同比增速更快（13.9% vs -6.1%），WillScot Holdings Corp自由现金流更多（$149.7M vs $-121.8M），过去两年WillScot Holdings Corp的营收复合增速更高（-1.8% 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。
WillScot Holdings Corp是北美领先的模块化空间及便携式存储服务供应商，服务覆盖建筑、商业开发、教育、医疗、政府项目、特殊活动等多个领域，为客户提供灵活可扩展的临时及半永久空间解决方案。
SR vs WSC — 直观对比
营收规模更大
SR
是对方的1.3倍
$566.0M
营收增速更快
SR
高出20.0%
-6.1%
净利率更高
SR
高出45.6%
-33.1%
自由现金流更多
WSC
多$271.5M
$-121.8M
两年增速更快
WSC
近两年复合增速
-17.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $762.2M | $566.0M |
| 净利润 | $95.0M | $-187.3M |
| 毛利率 | 55.1% | 50.4% |
| 营业利润率 | 22.8% | -32.5% |
| 净利率 | 12.5% | -33.1% |
| 营收同比 | 13.9% | -6.1% |
| 净利润同比 | 16.9% | -310.0% |
| 每股收益（稀释后） | $1.54 | $-1.02 |
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SRWSC
| Q4 25 | $762.2M | $566.0M | ||
| Q3 25 | $334.1M | $566.8M | ||
| Q2 25 | $421.9M | $589.1M | ||
| Q1 25 | $1.1B | $559.6M | ||
| Q4 24 | $669.1M | $602.5M | ||
| Q3 24 | $293.8M | $601.4M | ||
| Q2 24 | $414.1M | $604.6M | ||
| Q1 24 | $1.1B | $587.2M |
净利润SRWSC
| Q4 25 | $95.0M | $-187.3M | ||
| Q3 25 | $-39.8M | $43.3M | ||
| Q2 25 | $20.9M | $47.9M | ||
| Q1 25 | $209.3M | $43.1M | ||
| Q4 24 | $81.3M | $89.2M | ||
| Q3 24 | $-25.9M | $-70.5M | ||
| Q2 24 | $-12.6M | $-46.9M | ||
| Q1 24 | $204.3M | $56.2M |
毛利率SRWSC
| Q4 25 | 55.1% | 50.4% | ||
| Q3 25 | — | 49.7% | ||
| Q2 25 | — | 50.3% | ||
| Q1 25 | — | 53.7% | ||
| Q4 24 | 55.6% | 55.8% | ||
| Q3 24 | — | 53.5% | ||
| Q2 24 | — | 54.1% | ||
| Q1 24 | — | 54.0% |
营业利润率SRWSC
| Q4 25 | 22.8% | -32.5% | ||
| Q3 25 | -0.1% | 21.0% | ||
| Q2 25 | 16.4% | 21.5% | ||
| Q1 25 | 29.1% | 21.3% | ||
| Q4 24 | 22.2% | 28.9% | ||
| Q3 24 | 6.7% | -5.9% | ||
| Q2 24 | 7.4% | -0.9% | ||
| Q1 24 | 26.5% | 22.1% |
净利率SRWSC
| Q4 25 | 12.5% | -33.1% | ||
| Q3 25 | -11.9% | 7.6% | ||
| Q2 25 | 5.0% | 8.1% | ||
| Q1 25 | 19.9% | 7.7% | ||
| Q4 24 | 12.2% | 14.8% | ||
| Q3 24 | -8.8% | -11.7% | ||
| Q2 24 | -3.0% | -7.7% | ||
| Q1 24 | 18.1% | 9.6% |
每股收益（稀释后）SRWSC
| Q4 25 | $1.54 | $-1.02 | ||
| Q3 25 | $-0.77 | $0.24 | ||
| Q2 25 | $0.29 | $0.26 | ||
| Q1 25 | $3.51 | $0.23 | ||
| Q4 24 | $1.34 | $0.48 | ||
| Q3 24 | $-0.63 | $-0.37 | ||
| Q2 24 | $-0.28 | $-0.25 | ||
| Q1 24 | $3.58 | $0.29 |
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 | $14.6M |
| 总债务越低越好 | — | $3.6B |
| 股东权益账面价值 | $3.4B | $856.3M |
| 总资产 | $11.9B | $5.8B |
| 负债/权益比越低杠杆越低 | — | 4.15× |
8季度趋势，按日历期对齐
现金及短期投资SRWSC
| Q4 25 | $4.1M | $14.6M | ||
| Q3 25 | $5.7M | $14.8M | ||
| Q2 25 | $13.1M | $12.8M | ||
| Q1 25 | $15.2M | $10.7M | ||
| Q4 24 | $11.5M | $9.0M | ||
| Q3 24 | $4.5M | $11.0M | ||
| Q2 24 | $7.4M | $5.9M | ||
| Q1 24 | $25.6M | $13.1M |
总债务SRWSC
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.6B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.5B | ||
| Q1 24 | — | $3.5B |
股东权益SRWSC
| Q4 25 | $3.4B | $856.3M | ||
| Q3 25 | $3.4B | $1.1B | ||
| Q2 25 | $3.5B | $1.0B | ||
| Q1 25 | $3.5B | $1.0B | ||
| Q4 24 | $3.3B | $1.0B | ||
| Q3 24 | $3.2B | $1.1B | ||
| Q2 24 | $3.3B | $1.2B | ||
| Q1 24 | $3.4B | $1.3B |
总资产SRWSC
| Q4 25 | $11.9B | $5.8B | ||
| Q3 25 | $11.6B | $6.1B | ||
| Q2 25 | $11.4B | $6.1B | ||
| Q1 25 | $11.3B | $6.0B | ||
| Q4 24 | $11.3B | $6.0B | ||
| Q3 24 | $10.9B | $6.0B | ||
| Q2 24 | $10.7B | $6.0B | ||
| Q1 24 | $10.7B | $6.2B |
负债/权益比SRWSC
| Q4 25 | — | 4.15× | ||
| Q3 25 | — | 3.39× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 3.56× | ||
| Q4 24 | — | 3.62× | ||
| Q3 24 | — | 3.42× | ||
| Q2 24 | — | 2.88× | ||
| Q1 24 | — | 2.63× |
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 | $158.9M |
| 自由现金流经营现金流 - 资本支出 | $-121.8M | $149.7M |
| 自由现金流率自由现金流/营收 | -16.0% | 26.5% |
| 资本支出强度资本支出/营收 | 26.6% | 1.6% |
| 现金转化率经营现金流/净利润 | 0.85× | — |
| 过去12个月自由现金流最近4个季度 | $-286.7M | $737.7M |
8季度趋势，按日历期对齐
经营现金流SRWSC
| Q4 25 | $81.0M | $158.9M | ||
| Q3 25 | $-4.9M | $191.2M | ||
| Q2 25 | $129.1M | $205.3M | ||
| Q1 25 | $372.7M | $206.6M | ||
| Q4 24 | $81.1M | $178.9M | ||
| Q3 24 | $82.9M | $-1.6M | ||
| Q2 24 | $270.1M | $175.6M | ||
| Q1 24 | $489.4M | $208.7M |
自由现金流SRWSC
| Q4 25 | $-121.8M | $149.7M | ||
| Q3 25 | $-227.6M | $186.9M | ||
| Q2 25 | $-91.4M | $199.0M | ||
| Q1 25 | $154.1M | $202.0M | ||
| Q4 24 | $-179.5M | $176.6M | ||
| Q3 24 | $-146.9M | $-4.9M | ||
| Q2 24 | $47.9M | $169.4M | ||
| Q1 24 | $306.6M | $202.1M |
自由现金流率SRWSC
| Q4 25 | -16.0% | 26.5% | ||
| Q3 25 | -68.1% | 33.0% | ||
| Q2 25 | -21.7% | 33.8% | ||
| Q1 25 | 14.7% | 36.1% | ||
| Q4 24 | -26.8% | 29.3% | ||
| Q3 24 | -50.0% | -0.8% | ||
| Q2 24 | 11.6% | 28.0% | ||
| Q1 24 | 27.2% | 34.4% |
资本支出强度SRWSC
| Q4 25 | 26.6% | 1.6% | ||
| Q3 25 | 66.7% | 0.7% | ||
| Q2 25 | 52.3% | 1.1% | ||
| Q1 25 | 20.8% | 0.8% | ||
| Q4 24 | 38.9% | 0.4% | ||
| Q3 24 | 78.2% | 0.6% | ||
| Q2 24 | 53.7% | 1.0% | ||
| Q1 24 | 16.2% | 1.1% |
现金转化率SRWSC
| Q4 25 | 0.85× | — | ||
| Q3 25 | — | 4.41× | ||
| Q2 25 | 6.18× | 4.28× | ||
| Q1 25 | 1.78× | 4.80× | ||
| Q4 24 | 1.00× | 2.01× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.40× | 3.71× |
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% |
WSC
| Modular Space Leasing | $249.8M | 44% |
| Value Added Product And Services | $101.0M | 18% |
| Portable Storage Leasing | $83.0M | 15% |
| Delivery Revenue | $48.2M | 9% |
| Installation Revenue | $45.0M | 8% |
| Rental Units | $19.7M | 3% |
| New Units | $15.5M | 3% |
| Value Added Services | $10.3M | 2% |
| Other Leasing Related Products And Services | $3.8M | 1% |
