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Targa Resources（TRGP）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
Targa Resources的季度营收约是WEC Energy Group的1.6倍（$4.1B vs $2.5B），Targa Resources净利率更高（13.4% vs 12.5%，领先1.0%），WEC Energy Group同比增速更快（11.1% vs -7.9%），过去两年Targa Resources的营收复合增速更高（0.8% vs -2.7%）
Targa Resources Corp.为财富500强企业，总部位于美国得克萨斯州休斯敦，是美国规模最大的中游能源基础设施企业之一，主营天然气及天然气凝液输送业务，运营资产主要集中在墨西哥湾沿岸，得克萨斯州与路易斯安那州为核心布局区域，马修·J·梅洛伊自2020年起担任首席执行官。
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。
TRGP vs WEC — 直观对比
营收规模更大
TRGP
是对方的1.6倍
$2.5B
营收增速更快
WEC
高出19.0%
-7.9%
净利率更高
TRGP
高出1.0%
12.5%
两年增速更快
TRGP
近两年复合增速
-2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.1B | $2.5B |
| 净利润 | $545.0M | $316.8M |
| 毛利率 | 43.1% | 63.7% |
| 营业利润率 | 22.6% | 17.9% |
| 净利率 | 13.4% | 12.5% |
| 营收同比 | -7.9% | 11.1% |
| 净利润同比 | 55.3% | -30.1% |
| 每股收益（稀释后） | $2.51 | — |
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TRGPWEC
| Q4 25 | $4.1B | $2.5B | ||
| Q3 25 | $4.2B | $2.1B | ||
| Q2 25 | $4.3B | $2.0B | ||
| Q1 25 | $4.6B | $3.1B | ||
| Q4 24 | $4.4B | $2.3B | ||
| Q3 24 | $3.9B | $1.9B | ||
| Q2 24 | $3.0B | $1.8B | ||
| Q1 24 | $4.0B | $2.7B |
净利润TRGPWEC
| Q4 25 | $545.0M | $316.8M | ||
| Q3 25 | $478.4M | $270.2M | ||
| Q2 25 | $629.1M | $243.0M | ||
| Q1 25 | $270.5M | $725.5M | ||
| Q4 24 | $350.9M | $453.1M | ||
| Q3 24 | $387.4M | $238.6M | ||
| Q2 24 | $298.5M | $210.0M | ||
| Q1 24 | $275.2M | $622.6M |
毛利率TRGPWEC
| Q4 25 | 43.1% | 63.7% | ||
| Q3 25 | 39.6% | 71.1% | ||
| Q2 25 | 42.8% | 71.6% | ||
| Q1 25 | 28.6% | 63.0% | ||
| Q4 24 | 33.7% | 67.7% | ||
| Q3 24 | 38.6% | 72.1% | ||
| Q2 24 | 27.9% | 73.5% | ||
| Q1 24 | 19.3% | 65.4% |
营业利润率TRGPWEC
| Q4 25 | 22.6% | 17.9% | ||
| Q3 25 | 20.2% | 21.4% | ||
| Q2 25 | 24.3% | 20.1% | ||
| Q1 25 | 11.9% | 29.8% | ||
| Q4 24 | 15.9% | 25.9% | ||
| Q3 24 | 18.9% | 20.6% | ||
| Q2 24 | 20.6% | 20.6% | ||
| Q1 24 | 16.0% | 30.3% |
净利率TRGPWEC
| Q4 25 | 13.4% | 12.5% | ||
| Q3 25 | 11.5% | 12.8% | ||
| Q2 25 | 14.8% | 12.1% | ||
| Q1 25 | 5.9% | 23.0% | ||
| Q4 24 | 8.0% | 19.8% | ||
| Q3 24 | 10.1% | 12.8% | ||
| Q2 24 | 9.8% | 11.9% | ||
| Q1 24 | 6.9% | 23.2% |
每股收益（稀释后）TRGPWEC
| Q4 25 | $2.51 | — | ||
| Q3 25 | $2.20 | — | ||
| Q2 25 | $2.87 | — | ||
| Q1 25 | $0.91 | — | ||
| Q4 24 | $1.44 | — | ||
| Q3 24 | $1.75 | — | ||
| Q2 24 | $1.33 | — | ||
| Q1 24 | $1.22 | — |
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 | $166.1M | $27.6M |
| 总债务越低越好 | $16.7B | $20.0B |
| 股东权益账面价值 | $3.1B | $14.1B |
| 总资产 | $25.2B | $51.5B |
| 负债/权益比越低杠杆越低 | 5.43× | 1.42× |
8季度趋势，按日历期对齐
现金及短期投资TRGPWEC
| Q4 25 | $166.1M | $27.6M | ||
| Q3 25 | $124.1M | $51.1M | ||
| Q2 25 | $113.1M | $23.0M | ||
| Q1 25 | $151.4M | $82.2M | ||
| Q4 24 | $157.3M | $9.8M | ||
| Q3 24 | $127.2M | $322.5M | ||
| Q2 24 | $166.4M | $224.0M | ||
| Q1 24 | $109.9M | $38.9M |
总债务TRGPWEC
| Q4 25 | $16.7B | $20.0B | ||
| Q3 25 | $16.7B | — | ||
| Q2 25 | $16.1B | — | ||
| Q1 25 | $15.5B | — | ||
| Q4 24 | $13.8B | $18.9B | ||
| Q3 24 | $13.6B | $16.9B | ||
| Q2 24 | $13.0B | $16.9B | ||
| Q1 24 | $12.5B | $15.4B |
股东权益TRGPWEC
| Q4 25 | $3.1B | $14.1B | ||
| Q3 25 | $2.7B | $14.0B | ||
| Q2 25 | $2.6B | $13.7B | ||
| Q1 25 | $2.5B | $13.4B | ||
| Q4 24 | $2.6B | $12.8B | ||
| Q3 24 | $2.6B | $12.4B | ||
| Q2 24 | $2.5B | $12.4B | ||
| Q1 24 | $2.7B | $12.4B |
总资产TRGPWEC
| Q4 25 | $25.2B | $51.5B | ||
| Q3 25 | $24.2B | $49.8B | ||
| Q2 25 | $23.5B | $48.5B | ||
| Q1 25 | $22.8B | $48.2B | ||
| Q4 24 | $22.7B | $47.4B | ||
| Q3 24 | $21.9B | $45.2B | ||
| Q2 24 | $21.3B | $44.6B | ||
| Q1 24 | $20.8B | $43.9B |
负债/权益比TRGPWEC
| Q4 25 | 5.43× | 1.42× | ||
| Q3 25 | 6.19× | — | ||
| Q2 25 | 6.21× | — | ||
| Q1 25 | 6.34× | — | ||
| Q4 24 | 5.32× | 1.48× | ||
| Q3 24 | 5.28× | 1.36× | ||
| Q2 24 | 5.25× | 1.36× | ||
| Q1 24 | 4.63× | 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 | $1.5B | $424.6M |
| 自由现金流经营现金流 - 资本支出 | $542.3M | — |
| 自由现金流率自由现金流/营收 | 13.4% | — |
| 资本支出强度资本支出/营收 | 23.8% | — |
| 现金转化率经营现金流/净利润 | 2.76× | 1.34× |
| 过去12个月自由现金流最近4个季度 | $584.1M | — |
8季度趋势，按日历期对齐
经营现金流TRGPWEC
| Q4 25 | $1.5B | $424.6M | ||
| Q3 25 | $599.2M | $938.9M | ||
| Q2 25 | $858.3M | $853.3M | ||
| Q1 25 | $954.4M | $1.2B | ||
| Q4 24 | $1.3B | $581.8M | ||
| Q3 24 | $540.9M | $729.0M | ||
| Q2 24 | $904.5M | $1.0B | ||
| Q1 24 | $876.4M | $863.6M |
自由现金流TRGPWEC
| Q4 25 | $542.3M | — | ||
| Q3 25 | $-72.6M | $-625.7M | ||
| Q2 25 | $-47.8M | $23.9M | ||
| Q1 25 | $162.2M | $461.5M | ||
| Q4 24 | $601.0M | — | ||
| Q3 24 | $-287.9M | $-67.3M | ||
| Q2 24 | $164.2M | $343.5M | ||
| Q1 24 | $206.6M | $419.1M |
自由现金流率TRGPWEC
| Q4 25 | 13.4% | — | ||
| Q3 25 | -1.7% | -29.7% | ||
| Q2 25 | -1.1% | 1.2% | ||
| Q1 25 | 3.6% | 14.7% | ||
| Q4 24 | 13.6% | — | ||
| Q3 24 | -7.5% | -3.6% | ||
| Q2 24 | 5.4% | 19.4% | ||
| Q1 24 | 5.2% | 15.6% |
资本支出强度TRGPWEC
| Q4 25 | 23.8% | — | ||
| Q3 25 | 16.2% | 74.4% | ||
| Q2 25 | 21.3% | 41.3% | ||
| Q1 25 | 17.4% | 22.3% | ||
| Q4 24 | 16.5% | — | ||
| Q3 24 | 21.5% | 42.7% | ||
| Q2 24 | 24.3% | 39.2% | ||
| Q1 24 | 16.8% | 16.6% |
现金转化率TRGPWEC
| Q4 25 | 2.76× | 1.34× | ||
| Q3 25 | 1.25× | 3.47× | ||
| Q2 25 | 1.36× | 3.51× | ||
| Q1 25 | 3.53× | 1.60× | ||
| Q4 24 | 3.78× | 1.28× | ||
| Q3 24 | 1.40× | 3.06× | ||
| Q2 24 | 3.03× | 4.94× | ||
| Q1 24 | 3.18× | 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
TRGP
| Logistics And Transportation | $3.4B | 83% |
| Natural Gas Reserves | $393.1M | 10% |
| Storage Terminaling And Export | $130.9M | 3% |
| Oil And Condensate | $112.0M | 3% |
| NGL Transportation Fractionation And Services | $64.7M | 2% |
WEC
| Wisconsin | $1.9B | 73% |
| Illinois | $441.2M | 17% |
| Other States | $165.1M | 7% |
| External Revenues | $74.0M | 3% |
| Otheroperatingrevenues | $8.0M | 0% |
