vs
Vistra Corp.（VST）与Wabtec（WAB）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Wabtec的1.6倍（$4.8B vs $3.0B），Wabtec净利率更高（12.3% vs 4.8%，领先7.5%），Vistra Corp.同比增速更快（31.2% vs 13.0%），过去两年Vistra Corp.的营收复合增速更高（23.3% vs 5.6%）
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。
西屋空气制动技术公司（通称Wabtec）是美国知名轨道交通设备企业，1999年由西屋空气制动公司（WABCO）与动力设备厂商MotivePower合并组建，总部设于宾夕法尼亚州匹兹堡，在全球轨交制动系统、牵引动力设备等领域拥有领先的技术实力与市场份额。
VST vs WAB — 直观对比
营收规模更大
VST
是对方的1.6倍
$3.0B
营收增速更快
VST
高出18.2%
13.0%
净利率更高
WAB
高出7.5%
4.8%
两年增速更快
VST
近两年复合增速
5.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.8B | $3.0B |
| 净利润 | $233.0M | $363.0M |
| 毛利率 | — | 36.0% |
| 营业利润率 | 9.9% | 17.5% |
| 净利率 | 4.8% | 12.3% |
| 营收同比 | 31.2% | 13.0% |
| 净利润同比 | -47.2% | 11.0% |
| 每股收益（稀释后） | $0.55 | $2.12 |
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VSTWAB
| Q1 26 | — | $3.0B | ||
| Q4 25 | $4.8B | $3.0B | ||
| Q3 25 | $4.8B | $2.9B | ||
| Q2 25 | $3.8B | $2.7B | ||
| Q1 25 | $4.3B | $2.6B | ||
| Q4 24 | $3.7B | $2.6B | ||
| Q3 24 | $4.3B | $2.7B | ||
| Q2 24 | $3.6B | $2.6B |
净利润VSTWAB
| Q1 26 | — | $363.0M | ||
| Q4 25 | $233.0M | $202.0M | ||
| Q3 25 | $652.0M | $310.0M | ||
| Q2 25 | $327.0M | $336.0M | ||
| Q1 25 | $-268.0M | $322.0M | ||
| Q4 24 | $441.0M | $212.0M | ||
| Q3 24 | $1.9B | $283.0M | ||
| Q2 24 | $365.0M | $289.0M |
毛利率VSTWAB
| Q1 26 | — | 36.0% | ||
| Q4 25 | — | 32.6% | ||
| Q3 25 | — | 34.7% | ||
| Q2 25 | — | 34.7% | ||
| Q1 25 | — | 34.5% | ||
| Q4 24 | — | 30.9% | ||
| Q3 24 | — | 33.0% | ||
| Q2 24 | — | 33.1% |
营业利润率VSTWAB
| Q1 26 | — | 17.5% | ||
| Q4 25 | 9.9% | 12.0% | ||
| Q3 25 | 21.7% | 17.0% | ||
| Q2 25 | 13.7% | 17.4% | ||
| Q1 25 | -2.8% | 18.2% | ||
| Q4 24 | 16.4% | 12.9% | ||
| Q3 24 | 59.6% | 16.3% | ||
| Q2 24 | 22.5% | 16.3% |
净利率VSTWAB
| Q1 26 | — | 12.3% | ||
| Q4 25 | 4.8% | 6.8% | ||
| Q3 25 | 13.6% | 10.7% | ||
| Q2 25 | 8.7% | 12.4% | ||
| Q1 25 | -6.3% | 12.3% | ||
| Q4 24 | 12.0% | 8.2% | ||
| Q3 24 | 43.5% | 10.6% | ||
| Q2 24 | 10.1% | 10.9% |
每股收益（稀释后）VSTWAB
| Q1 26 | — | $2.12 | ||
| Q4 25 | $0.55 | $1.18 | ||
| Q3 25 | $1.75 | $1.81 | ||
| Q2 25 | $0.81 | $1.96 | ||
| Q1 25 | $-0.93 | $1.88 | ||
| Q4 24 | $1.09 | $1.24 | ||
| Q3 24 | $5.25 | $1.63 | ||
| Q2 24 | $0.90 | $1.64 |
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 | $785.0M | — |
| 总债务越低越好 | $15.8B | $4.7B |
| 股东权益账面价值 | $5.1B | $11.1B |
| 总资产 | $41.5B | $23.2B |
| 负债/权益比越低杠杆越低 | 3.11× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资VSTWAB
| Q1 26 | — | — | ||
| Q4 25 | $785.0M | — | ||
| Q3 25 | $602.0M | — | ||
| Q2 25 | $458.0M | — | ||
| Q1 25 | $561.0M | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $905.0M | — | ||
| Q2 24 | $1.6B | — |
总债务VSTWAB
| Q1 26 | — | $4.7B | ||
| Q4 25 | $15.8B | $5.5B | ||
| Q3 25 | $15.8B | $5.3B | ||
| Q2 25 | $15.5B | $4.8B | ||
| Q1 25 | $15.4B | $4.0B | ||
| Q4 24 | $15.4B | $4.0B | ||
| Q3 24 | $13.9B | $4.0B | ||
| Q2 24 | $13.9B | $4.0B |
股东权益VSTWAB
| Q1 26 | — | $11.1B | ||
| Q4 25 | $5.1B | $11.1B | ||
| Q3 25 | $5.2B | $11.0B | ||
| Q2 25 | $4.8B | $10.8B | ||
| Q1 25 | $4.8B | $10.4B | ||
| Q4 24 | $5.6B | $10.1B | ||
| Q3 24 | $5.4B | $10.3B | ||
| Q2 24 | $5.6B | $10.5B |
总资产VSTWAB
| Q1 26 | — | $23.2B | ||
| Q4 25 | $41.5B | $22.1B | ||
| Q3 25 | $38.0B | $21.5B | ||
| Q2 25 | $38.1B | $20.4B | ||
| Q1 25 | $38.2B | $19.1B | ||
| Q4 24 | $37.8B | $18.7B | ||
| Q3 24 | $37.9B | $18.6B | ||
| Q2 24 | $39.1B | $18.9B |
负债/权益比VSTWAB
| Q1 26 | — | 0.42× | ||
| Q4 25 | 3.11× | 0.50× | ||
| Q3 25 | 3.02× | 0.48× | ||
| Q2 25 | 3.22× | 0.44× | ||
| Q1 25 | 3.20× | 0.39× | ||
| Q4 24 | 2.77× | 0.39× | ||
| Q3 24 | 2.56× | 0.39× | ||
| Q2 24 | 2.49× | 0.38× |
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 | $199.0M |
| 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× | 0.55× |
| 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VSTWAB
| Q1 26 | — | $199.0M | ||
| Q4 25 | $1.4B | $992.0M | ||
| Q3 25 | $1.5B | $367.0M | ||
| Q2 25 | $572.0M | $209.0M | ||
| Q1 25 | $599.0M | $191.0M | ||
| Q4 24 | $1.4B | $723.0M | ||
| Q3 24 | $1.7B | $542.0M | ||
| Q2 24 | $1.2B | $235.0M |
自由现金流VSTWAB
| Q1 26 | — | — | ||
| Q4 25 | $596.0M | $870.0M | ||
| Q3 25 | $1.0B | $312.0M | ||
| Q2 25 | $-118.0M | $170.0M | ||
| Q1 25 | $-169.0M | $147.0M | ||
| Q4 24 | $923.0M | $639.0M | ||
| Q3 24 | $1.0B | $496.0M | ||
| Q2 24 | $698.0M | $189.0M |
自由现金流率VSTWAB
| Q1 26 | — | — | ||
| Q4 25 | 12.4% | 29.3% | ||
| Q3 25 | 21.1% | 10.8% | ||
| Q2 25 | -3.1% | 6.3% | ||
| Q1 25 | -4.0% | 5.6% | ||
| Q4 24 | 25.2% | 24.7% | ||
| Q3 24 | 23.4% | 18.6% | ||
| Q2 24 | 19.4% | 7.1% |
资本支出强度VSTWAB
| Q1 26 | — | — | ||
| Q4 25 | 17.4% | 4.1% | ||
| Q3 25 | 9.6% | 1.9% | ||
| Q2 25 | 18.4% | 1.4% | ||
| Q1 25 | 18.1% | 1.7% | ||
| Q4 24 | 11.7% | 3.3% | ||
| Q3 24 | 15.8% | 1.7% | ||
| Q2 24 | 13.8% | 1.7% |
现金转化率VSTWAB
| Q1 26 | — | 0.55× | ||
| Q4 25 | 6.15× | 4.91× | ||
| Q3 25 | 2.25× | 1.18× | ||
| Q2 25 | 1.75× | 0.62× | ||
| Q1 25 | — | 0.59× | ||
| Q4 24 | 3.07× | 3.41× | ||
| Q3 24 | 0.90× | 1.92× | ||
| Q2 24 | 3.28× | 0.81× |
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
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% |
WAB
暂无分部数据
