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托尔工业（THO）与WEC Energy Group（WEC）财务数据对比。点击上方公司名可切换其他公司
WEC Energy Group的季度营收约是托尔工业的1.1倍（$2.5B vs $2.4B），WEC Energy Group净利率更高（12.5% vs 0.9%，领先11.6%），托尔工业同比增速更快（11.5% vs 11.1%），过去两年托尔工业的营收复合增速更高（4.0% vs -2.7%）
托尔工业是美国知名休闲房车（RV）生产商，旗下拥有Airstream、Heartland RV、Jayco等多个子品牌，主营拖挂式及自行式休闲房车的生产销售，总部位于印第安纳州埃尔克哈特，在密歇根、俄亥俄、爱达荷、俄勒冈等多个州设有生产基地。
WEC能源集团是总部位于美国威斯康星州密尔沃基的知名能源企业，业务覆盖美国四个州，为总计440万用户提供可靠的电力及天然气供应服务，是北美地区颇具规模的区域性能源服务商。
THO vs WEC — 直观对比
营收规模更大
WEC
是对方的1.1倍
$2.4B
营收增速更快
THO
高出0.4%
11.1%
净利率更高
WEC
高出11.6%
0.9%
两年增速更快
THO
近两年复合增速
-2.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $2.5B |
| 净利润 | $21.7M | $316.8M |
| 毛利率 | 13.4% | 63.7% |
| 营业利润率 | 1.4% | 17.9% |
| 净利率 | 0.9% | 12.5% |
| 营收同比 | 11.5% | 11.1% |
| 净利润同比 | 1282.8% | -30.1% |
| 每股收益（稀释后） | $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THOWEC
| Q4 25 | $2.4B | $2.5B | ||
| Q3 25 | $2.5B | $2.1B | ||
| Q2 25 | $2.9B | $2.0B | ||
| Q1 25 | $2.0B | $3.1B | ||
| Q4 24 | $2.1B | $2.3B | ||
| Q3 24 | $2.5B | $1.9B | ||
| Q2 24 | $2.8B | $1.8B | ||
| Q1 24 | $2.2B | $2.7B |
净利润THOWEC
| Q4 25 | $21.7M | $316.8M | ||
| Q3 25 | $125.8M | $270.2M | ||
| Q2 25 | $135.2M | $243.0M | ||
| Q1 25 | $-551.0K | $725.5M | ||
| Q4 24 | $-1.8M | $453.1M | ||
| Q3 24 | $90.0M | $238.6M | ||
| Q2 24 | $114.5M | $210.0M | ||
| Q1 24 | $7.2M | $622.6M |
毛利率THOWEC
| Q4 25 | 13.4% | 63.7% | ||
| Q3 25 | 14.7% | 71.1% | ||
| Q2 25 | 15.3% | 71.6% | ||
| Q1 25 | 12.1% | 63.0% | ||
| Q4 24 | 13.1% | 67.7% | ||
| Q3 24 | 15.8% | 72.1% | ||
| Q2 24 | 15.1% | 73.5% | ||
| Q1 24 | 12.3% | 65.4% |
营业利润率THOWEC
| Q4 25 | 1.4% | 17.9% | ||
| Q3 25 | 5.7% | 21.4% | ||
| Q2 25 | 5.4% | 20.1% | ||
| Q1 25 | -0.1% | 29.8% | ||
| Q4 24 | -0.1% | 25.9% | ||
| Q3 24 | 5.0% | 20.6% | ||
| Q2 24 | 5.1% | 20.6% | ||
| Q1 24 | 0.3% | 30.3% |
净利率THOWEC
| Q4 25 | 0.9% | 12.5% | ||
| Q3 25 | 5.0% | 12.8% | ||
| Q2 25 | 4.7% | 12.1% | ||
| Q1 25 | -0.0% | 23.0% | ||
| Q4 24 | -0.1% | 19.8% | ||
| Q3 24 | 3.6% | 12.8% | ||
| Q2 24 | 4.1% | 11.9% | ||
| Q1 24 | 0.3% | 23.2% |
每股收益（稀释后）THOWEC
| Q4 25 | $0.41 | — | ||
| Q3 25 | $2.35 | — | ||
| Q2 25 | $2.53 | — | ||
| Q1 25 | $-0.01 | — | ||
| Q4 24 | $-0.03 | — | ||
| Q3 24 | $1.69 | — | ||
| Q2 24 | $2.13 | — | ||
| Q1 24 | $0.13 | — |
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 | $509.9M | $27.6M |
| 总债务越低越好 | $916.0M | $20.0B |
| 股东权益账面价值 | $4.3B | $14.1B |
| 总资产 | $7.0B | $51.5B |
| 负债/权益比越低杠杆越低 | 0.21× | 1.42× |
8季度趋势，按日历期对齐
现金及短期投资THOWEC
| Q4 25 | $509.9M | $27.6M | ||
| Q3 25 | $586.6M | $51.1M | ||
| Q2 25 | $508.3M | $23.0M | ||
| Q1 25 | $373.8M | $82.2M | ||
| Q4 24 | $445.2M | $9.8M | ||
| Q3 24 | $501.3M | $322.5M | ||
| Q2 24 | $371.8M | $224.0M | ||
| Q1 24 | $340.2M | $38.9M |
总债务THOWEC
| Q4 25 | $916.0M | $20.0B | ||
| Q3 25 | $923.0M | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.1B | $18.9B | ||
| Q3 24 | $1.1B | $16.9B | ||
| Q2 24 | $1.2B | $16.9B | ||
| Q1 24 | $1.4B | $15.4B |
股东权益THOWEC
| Q4 25 | $4.3B | $14.1B | ||
| Q3 25 | $4.3B | $14.0B | ||
| Q2 25 | $4.2B | $13.7B | ||
| Q1 25 | $4.0B | $13.4B | ||
| Q4 24 | $4.1B | $12.8B | ||
| Q3 24 | $4.1B | $12.4B | ||
| Q2 24 | $4.0B | $12.4B | ||
| Q1 24 | $3.9B | $12.4B |
总资产THOWEC
| Q4 25 | $7.0B | $51.5B | ||
| Q3 25 | $7.1B | $49.8B | ||
| Q2 25 | $7.2B | $48.5B | ||
| Q1 25 | $6.7B | $48.2B | ||
| Q4 24 | $6.9B | $47.4B | ||
| Q3 24 | $7.0B | $45.2B | ||
| Q2 24 | $7.2B | $44.6B | ||
| Q1 24 | $7.2B | $43.9B |
负债/权益比THOWEC
| Q4 25 | 0.21× | 1.42× | ||
| Q3 25 | 0.22× | — | ||
| Q2 25 | 0.24× | — | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 0.27× | 1.48× | ||
| Q3 24 | 0.28× | 1.36× | ||
| Q2 24 | 0.31× | 1.36× | ||
| Q1 24 | 0.36× | 1.24× |
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 | $-44.9M | $424.6M |
| 自由现金流经营现金流 - 资本支出 | $-74.8M | — |
| 自由现金流率自由现金流/营收 | -3.1% | — |
| 资本支出强度资本支出/营收 | 1.3% | — |
| 现金转化率经营现金流/净利润 | -2.07× | 1.34× |
| 过去12个月自由现金流最近4个季度 | $375.1M | — |
8季度趋势，按日历期对齐
经营现金流THOWEC
| Q4 25 | $-44.9M | $424.6M | ||
| Q3 25 | $258.7M | $938.9M | ||
| Q2 25 | $257.7M | $853.3M | ||
| Q1 25 | $30.8M | $1.2B | ||
| Q4 24 | $30.7M | $581.8M | ||
| Q3 24 | $338.0M | $729.0M | ||
| Q2 24 | $251.7M | $1.0B | ||
| Q1 24 | $-103.9M | $863.6M |
自由现金流THOWEC
| Q4 25 | $-74.8M | — | ||
| Q3 25 | $221.6M | $-625.7M | ||
| Q2 25 | $222.5M | $23.9M | ||
| Q1 25 | $5.8M | $461.5M | ||
| Q4 24 | $6.4M | — | ||
| Q3 24 | $301.3M | $-67.3M | ||
| Q2 24 | $225.4M | $343.5M | ||
| Q1 24 | $-140.2M | $419.1M |
自由现金流率THOWEC
| Q4 25 | -3.1% | — | ||
| Q3 25 | 8.8% | -29.7% | ||
| Q2 25 | 7.7% | 1.2% | ||
| Q1 25 | 0.3% | 14.7% | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 11.9% | -3.6% | ||
| Q2 24 | 8.0% | 19.4% | ||
| Q1 24 | -6.4% | 15.6% |
资本支出强度THOWEC
| Q4 25 | 1.3% | — | ||
| Q3 25 | 1.5% | 74.4% | ||
| Q2 25 | 1.2% | 41.3% | ||
| Q1 25 | 1.2% | 22.3% | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.4% | 42.7% | ||
| Q2 24 | 0.9% | 39.2% | ||
| Q1 24 | 1.6% | 16.6% |
现金转化率THOWEC
| Q4 25 | -2.07× | 1.34× | ||
| Q3 25 | 2.06× | 3.47× | ||
| Q2 25 | 1.91× | 3.51× | ||
| Q1 25 | — | 1.60× | ||
| Q4 24 | — | 1.28× | ||
| Q3 24 | 3.76× | 3.06× | ||
| Q2 24 | 2.20× | 4.94× | ||
| Q1 24 | -14.39× | 1.39× |
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
THO
| Other | $417.1M | 17% |
| Travel Trailers | $403.6M | 17% |
| Motorcaravan | $391.9M | 16% |
| Fifth Wheels Towables | $306.9M | 13% |
| Classc Motorized | $297.2M | 12% |
| Campervan | $188.3M | 8% |
| Classa Motorized | $169.9M | 7% |
| Classb Motorized | $110.0M | 5% |
| Other Rv Related | $70.0M | 3% |
| Caravan | $34.3M | 1% |
WEC
| Wisconsin | $1.9B | 73% |
| Illinois | $441.2M | 17% |
| Other States | $165.1M | 7% |
| External Revenues | $74.0M | 3% |
| Otheroperatingrevenues | $8.0M | 0% |
