vs
United Rentals（URI）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United Rentals的1.2倍（$4.8B vs $4.0B），United Rentals净利率更高（13.3% vs 4.8%，领先8.5%），Vistra Corp.同比增速更快（31.2% vs 7.2%），United Rentals自由现金流更多（$1.1B vs $596.0M），过去两年United Rentals的营收复合增速更高（114.0% vs 23.3%）
United Rentals是美国设备租赁企业，2022年占据北美市场约16%的份额。截至2025年，该公司拥有全球规模最大的租赁车队，覆盖约4800类设备，原始设备成本总计约205.9亿美元，在全球共设1625个营业网点，业务覆盖北美、欧洲、澳大利亚及新西兰。
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。
URI vs VST — 直观对比
营收规模更大
VST
是对方的1.2倍
$4.0B
营收增速更快
VST
高出24.1%
7.2%
净利率更高
URI
高出8.5%
4.8%
自由现金流更多
URI
多$458.0M
$596.0M
两年增速更快
URI
近两年复合增速
23.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $4.8B |
| 净利润 | $531.0M | $233.0M |
| 毛利率 | 36.9% | — |
| 营业利润率 | 21.8% | 9.9% |
| 净利率 | 13.3% | 4.8% |
| 营收同比 | 7.2% | 31.2% |
| 净利润同比 | 2.5% | -47.2% |
| 每股收益（稀释后） | $8.43 | $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URIVST
| Q1 26 | $4.0B | — | ||
| Q4 25 | $992.0M | $4.8B | ||
| Q3 25 | $938.0M | $4.8B | ||
| Q2 25 | $872.0M | $3.8B | ||
| Q1 25 | $893.0M | $4.3B | ||
| Q4 24 | $1.0B | $3.7B | ||
| Q3 24 | $874.0M | $4.3B | ||
| Q2 24 | $870.0M | $3.6B |
净利润URIVST
| Q1 26 | $531.0M | — | ||
| Q4 25 | $653.0M | $233.0M | ||
| Q3 25 | $701.0M | $652.0M | ||
| Q2 25 | $622.0M | $327.0M | ||
| Q1 25 | $518.0M | $-268.0M | ||
| Q4 24 | $689.0M | $441.0M | ||
| Q3 24 | $708.0M | $1.9B | ||
| Q2 24 | $636.0M | $365.0M |
毛利率URIVST
| Q1 26 | 36.9% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率URIVST
| Q1 26 | 21.8% | — | ||
| Q4 25 | — | 9.9% | ||
| Q3 25 | — | 21.7% | ||
| Q2 25 | — | 13.7% | ||
| Q1 25 | 90.0% | -2.8% | ||
| Q4 24 | — | 16.4% | ||
| Q3 24 | — | 59.6% | ||
| Q2 24 | — | 22.5% |
净利率URIVST
| Q1 26 | 13.3% | — | ||
| Q4 25 | 65.8% | 4.8% | ||
| Q3 25 | 74.7% | 13.6% | ||
| Q2 25 | 71.3% | 8.7% | ||
| Q1 25 | 58.0% | -6.3% | ||
| Q4 24 | 67.6% | 12.0% | ||
| Q3 24 | 81.0% | 43.5% | ||
| Q2 24 | 73.1% | 10.1% |
每股收益（稀释后）URIVST
| Q1 26 | $8.43 | — | ||
| Q4 25 | $10.20 | $0.55 | ||
| Q3 25 | $10.91 | $1.75 | ||
| Q2 25 | $9.59 | $0.81 | ||
| Q1 25 | $7.91 | $-0.93 | ||
| Q4 24 | $10.41 | $1.09 | ||
| Q3 24 | $10.70 | $5.25 | ||
| Q2 24 | $9.54 | $0.90 |
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 | $156.0M | $785.0M |
| 总债务越低越好 | $13.9B | $15.8B |
| 股东权益账面价值 | $9.0B | $5.1B |
| 总资产 | $29.9B | $41.5B |
| 负债/权益比越低杠杆越低 | 1.55× | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资URIVST
| Q1 26 | $156.0M | — | ||
| Q4 25 | $459.0M | $785.0M | ||
| Q3 25 | $512.0M | $602.0M | ||
| Q2 25 | $548.0M | $458.0M | ||
| Q1 25 | $542.0M | $561.0M | ||
| Q4 24 | $457.0M | $1.2B | ||
| Q3 24 | $479.0M | $905.0M | ||
| Q2 24 | $467.0M | $1.6B |
总债务URIVST
| Q1 26 | $13.9B | — | ||
| Q4 25 | $12.7B | $15.8B | ||
| Q3 25 | $12.6B | $15.8B | ||
| Q2 25 | $12.1B | $15.5B | ||
| Q1 25 | $11.5B | $15.4B | ||
| Q4 24 | $12.2B | $15.4B | ||
| Q3 24 | $11.9B | $13.9B | ||
| Q2 24 | $11.5B | $13.9B |
股东权益URIVST
| Q1 26 | $9.0B | — | ||
| Q4 25 | $9.0B | $5.1B | ||
| Q3 25 | $9.0B | $5.2B | ||
| Q2 25 | $9.0B | $4.8B | ||
| Q1 25 | $8.8B | $4.8B | ||
| Q4 24 | $8.6B | $5.6B | ||
| Q3 24 | $8.6B | $5.4B | ||
| Q2 24 | $8.3B | $5.6B |
总资产URIVST
| Q1 26 | $29.9B | — | ||
| Q4 25 | $29.9B | $41.5B | ||
| Q3 25 | $30.1B | $38.0B | ||
| Q2 25 | $29.2B | $38.1B | ||
| Q1 25 | $28.1B | $38.2B | ||
| Q4 24 | $28.2B | $37.8B | ||
| Q3 24 | $28.4B | $37.9B | ||
| Q2 24 | $27.6B | $39.1B |
负债/权益比URIVST
| Q1 26 | 1.55× | — | ||
| Q4 25 | 1.41× | 3.11× | ||
| Q3 25 | 1.40× | 3.02× | ||
| Q2 25 | 1.34× | 3.22× | ||
| Q1 25 | 1.31× | 3.20× | ||
| Q4 24 | 1.42× | 2.77× | ||
| Q3 24 | 1.38× | 2.56× | ||
| Q2 24 | 1.39× | 2.49× |
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 | 26.4% | 12.4% |
| 资本支出强度资本支出/营收 | — | 17.4% |
| 现金转化率经营现金流/净利润 | 2.85× | 6.15× |
| 过去12个月自由现金流最近4个季度 | — | $1.3B |
8季度趋势，按日历期对齐
经营现金流URIVST
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.2B | $1.5B | ||
| Q2 25 | $1.3B | $572.0M | ||
| Q1 25 | $1.4B | $599.0M | ||
| Q4 24 | $1.0B | $1.4B | ||
| Q3 24 | $1.2B | $1.7B | ||
| Q2 24 | $1.3B | $1.2B |
自由现金流URIVST
| Q1 26 | $1.1B | — | ||
| Q4 25 | — | $596.0M | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $-118.0M | ||
| Q1 25 | — | $-169.0M | ||
| Q4 24 | $471.0M | $923.0M | ||
| Q3 24 | $-168.0M | $1.0B | ||
| Q2 24 | $-263.0M | $698.0M |
自由现金流率URIVST
| Q1 26 | 26.4% | — | ||
| Q4 25 | — | 12.4% | ||
| Q3 25 | — | 21.1% | ||
| Q2 25 | — | -3.1% | ||
| Q1 25 | — | -4.0% | ||
| Q4 24 | 46.2% | 25.2% | ||
| Q3 24 | -19.2% | 23.4% | ||
| Q2 24 | -30.2% | 19.4% |
资本支出强度URIVST
| Q1 26 | — | — | ||
| Q4 25 | — | 17.4% | ||
| Q3 25 | — | 9.6% | ||
| Q2 25 | — | 18.4% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | 56.6% | 11.7% | ||
| Q3 24 | 157.0% | 15.8% | ||
| Q2 24 | 175.6% | 13.8% |
现金转化率URIVST
| Q1 26 | 2.85× | — | ||
| Q4 25 | 1.92× | 6.15× | ||
| Q3 25 | 1.68× | 2.25× | ||
| Q2 25 | 2.14× | 1.75× | ||
| Q1 25 | 2.75× | — | ||
| Q4 24 | 1.52× | 3.07× | ||
| Q3 24 | 1.70× | 0.90× | ||
| Q2 24 | 1.99× | 3.28× |
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
URI
| Equipment rentals | $3.4B | 86% |
| Sales of rental equipment | $350.0M | 9% |
| Service and other revenues | $92.0M | 2% |
| Sales of new equipment | $84.0M | 2% |
| Contractor supplies sales | $40.0M | 1% |
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% |
