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淡水河谷（VALE）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
淡水河谷的季度营收约是Vistra Corp.的1.8倍（$8.8B vs $4.8B），淡水河谷净利率更高（24.3% vs 4.8%，领先19.4%），Vistra Corp.同比增速更快（31.2% vs -11.3%）
淡水河谷是巴西跨国金属矿业集团，也是巴西大型物流运营商之一，为全球最大的铁矿石和镍生产商。其产品线还覆盖锰、铁合金、铜、铝土矿、钾肥、高岭土、钴等，同时运营水电站及铁路、船舶、港口组成的庞大物流网络保障产品运输。
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。
VALE vs VST — 直观对比
营收规模更大
VALE
是对方的1.8倍
$4.8B
营收增速更快
VST
高出42.5%
-11.3%
净利率更高
VALE
高出19.4%
4.8%
损益表 — Q2 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $8.8B | $4.8B |
| 净利润 | $2.1B | $233.0M |
| 毛利率 | 30.9% | — |
| 营业利润率 | 22.8% | 9.9% |
| 净利率 | 24.3% | 4.8% |
| 营收同比 | -11.3% | 31.2% |
| 净利润同比 | -22.9% | -47.2% |
| 每股收益（稀释后） | $0.50 | $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VALEVST
| Q4 25 | — | $4.8B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | $8.8B | $3.8B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | $9.9B | $3.6B | ||
| Q1 24 | — | $3.2B |
净利润VALEVST
| Q4 25 | — | $233.0M | ||
| Q3 25 | — | $652.0M | ||
| Q2 25 | $2.1B | $327.0M | ||
| Q1 25 | — | $-268.0M | ||
| Q4 24 | — | $441.0M | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | $2.8B | $365.0M | ||
| Q1 24 | — | $-35.0M |
毛利率VALEVST
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 30.9% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 36.0% | — | ||
| Q1 24 | — | — |
营业利润率VALEVST
| Q4 25 | — | 9.9% | ||
| Q3 25 | — | 21.7% | ||
| Q2 25 | 22.8% | 13.7% | ||
| Q1 25 | — | -2.8% | ||
| Q4 24 | — | 16.4% | ||
| Q3 24 | — | 59.6% | ||
| Q2 24 | 39.1% | 22.5% | ||
| Q1 24 | — | 2.7% |
净利率VALEVST
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 13.6% | ||
| Q2 25 | 24.3% | 8.7% | ||
| Q1 25 | — | -6.3% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | — | 43.5% | ||
| Q2 24 | 27.9% | 10.1% | ||
| Q1 24 | — | -1.1% |
每股收益（稀释后）VALEVST
| Q4 25 | — | $0.55 | ||
| Q3 25 | — | $1.75 | ||
| Q2 25 | $0.50 | $0.81 | ||
| Q1 25 | — | $-0.93 | ||
| Q4 24 | — | $1.09 | ||
| Q3 24 | — | $5.25 | ||
| Q2 24 | $0.65 | $0.90 | ||
| Q1 24 | — | $-0.24 |
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 | $5.5B | $785.0M |
| 总债务越低越好 | — | $15.8B |
| 股东权益账面价值 | $40.5B | $5.1B |
| 总资产 | $90.4B | $41.5B |
| 负债/权益比越低杠杆越低 | — | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资VALEVST
| Q4 25 | — | $785.0M | ||
| Q3 25 | — | $602.0M | ||
| Q2 25 | $5.5B | $458.0M | ||
| Q1 25 | — | $561.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $905.0M | ||
| Q2 24 | $6.5B | $1.6B | ||
| Q1 24 | — | $1.1B |
总债务VALEVST
| Q4 25 | — | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.9B | ||
| Q1 24 | — | $14.7B |
股东权益VALEVST
| Q4 25 | — | $5.1B | ||
| Q3 25 | — | $5.2B | ||
| Q2 25 | $40.5B | $4.8B | ||
| Q1 25 | — | $4.8B | ||
| Q4 24 | — | $5.6B | ||
| Q3 24 | — | $5.4B | ||
| Q2 24 | $38.4B | $5.6B | ||
| Q1 24 | — | $5.7B |
总资产VALEVST
| Q4 25 | — | $41.5B | ||
| Q3 25 | — | $38.0B | ||
| Q2 25 | $90.4B | $38.1B | ||
| Q1 25 | — | $38.2B | ||
| Q4 24 | — | $37.8B | ||
| Q3 24 | — | $37.9B | ||
| Q2 24 | $86.6B | $39.1B | ||
| Q1 24 | — | $38.2B |
负债/权益比VALEVST
| Q4 25 | — | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | — | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 2.49× | ||
| Q1 24 | — | 2.60× |
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 | — | $1.4B |
| 自由现金流经营现金流 - 资本支出 | — | $596.0M |
| 自由现金流率自由现金流/营收 | — | 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 | — | 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VALEVST
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $572.0M | ||
| Q1 25 | — | $599.0M | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $312.0M |
自由现金流VALEVST
| Q4 25 | — | $596.0M | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $-118.0M | ||
| Q1 25 | — | $-169.0M | ||
| Q4 24 | — | $923.0M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $698.0M | ||
| Q1 24 | — | $-153.0M |
自由现金流率VALEVST
| Q4 25 | — | 12.4% | ||
| Q3 25 | — | 21.1% | ||
| Q2 25 | — | -3.1% | ||
| Q1 25 | — | -4.0% | ||
| Q4 24 | — | 25.2% | ||
| Q3 24 | — | 23.4% | ||
| Q2 24 | — | 19.4% | ||
| Q1 24 | — | -4.8% |
资本支出强度VALEVST
| Q4 25 | — | 17.4% | ||
| Q3 25 | — | 9.6% | ||
| Q2 25 | — | 18.4% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 15.8% | ||
| Q2 24 | — | 13.8% | ||
| Q1 24 | — | 14.7% |
现金转化率VALEVST
| Q4 25 | — | 6.15× | ||
| Q3 25 | — | 2.25× | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.07× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 3.28× | ||
| Q1 24 | — | — |
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
VALE
暂无分部数据
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% |
