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WEC Energy Group（WEC）与惠而浦（WHR）财务数据对比。点击上方公司名可切换其他公司
惠而浦的季度营收约是WEC Energy Group的1.6倍（$4.1B vs $2.5B），WEC Energy Group净利率更高（12.5% vs 2.7%，领先9.8%），WEC Energy Group同比增速更快（11.1% vs -0.9%），过去两年WEC Energy Group的营收复合增速更高（-2.7% vs -4.5%）
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。
惠而浦是总部位于美国密歇根州本顿特许镇的跨国家电研发、生产及销售企业，位列《财富》世界500强。2023年集团年销售额约190亿美元，全球员工规模近5.9万人，在世界各地布局超55座生产及技术研发中心。
WEC vs WHR — 直观对比
营收规模更大
WHR
是对方的1.6倍
$2.5B
营收增速更快
WEC
高出12.0%
-0.9%
净利率更高
WEC
高出9.8%
2.7%
两年增速更快
WEC
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $4.1B |
| 净利润 | $316.8M | $109.0M |
| 毛利率 | 63.7% | 14.0% |
| 营业利润率 | 17.9% | 6.0% |
| 净利率 | 12.5% | 2.7% |
| 营收同比 | 11.1% | -0.9% |
| 净利润同比 | -30.1% | 127.8% |
| 每股收益（稀释后） | — | $1.92 |
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WECWHR
| Q4 25 | $2.5B | $4.1B | ||
| Q3 25 | $2.1B | $4.0B | ||
| Q2 25 | $2.0B | $3.8B | ||
| Q1 25 | $3.1B | $3.6B | ||
| Q4 24 | $2.3B | $4.1B | ||
| Q3 24 | $1.9B | $4.0B | ||
| Q2 24 | $1.8B | $4.0B | ||
| Q1 24 | $2.7B | $4.5B |
净利润WECWHR
| Q4 25 | $316.8M | $109.0M | ||
| Q3 25 | $270.2M | $73.0M | ||
| Q2 25 | $243.0M | $65.0M | ||
| Q1 25 | $725.5M | $71.0M | ||
| Q4 24 | $453.1M | $-392.0M | ||
| Q3 24 | $238.6M | $109.0M | ||
| Q2 24 | $210.0M | $219.0M | ||
| Q1 24 | $622.6M | $-259.0M |
毛利率WECWHR
| Q4 25 | 63.7% | 14.0% | ||
| Q3 25 | 71.1% | 14.7% | ||
| Q2 25 | 71.6% | 16.2% | ||
| Q1 25 | 63.0% | 16.8% | ||
| Q4 24 | 67.7% | 16.2% | ||
| Q3 24 | 72.1% | 16.1% | ||
| Q2 24 | 73.5% | 15.7% | ||
| Q1 24 | 65.4% | 14.3% |
营业利润率WECWHR
| Q4 25 | 17.9% | 6.0% | ||
| Q3 25 | 21.4% | 5.1% | ||
| Q2 25 | 20.1% | 5.4% | ||
| Q1 25 | 29.8% | 5.1% | ||
| Q4 24 | 25.9% | -3.3% | ||
| Q3 24 | 20.6% | 6.6% | ||
| Q2 24 | 20.6% | 3.3% | ||
| Q1 24 | 30.3% | -2.6% |
净利率WECWHR
| Q4 25 | 12.5% | 2.7% | ||
| Q3 25 | 12.8% | 1.8% | ||
| Q2 25 | 12.1% | 1.7% | ||
| Q1 25 | 23.0% | 2.0% | ||
| Q4 24 | 19.8% | -9.5% | ||
| Q3 24 | 12.8% | 2.7% | ||
| Q2 24 | 11.9% | 5.5% | ||
| Q1 24 | 23.2% | -5.8% |
每股收益（稀释后）WECWHR
| Q4 25 | — | $1.92 | ||
| Q3 25 | — | $1.29 | ||
| Q2 25 | — | $1.17 | ||
| Q1 25 | — | $1.28 | ||
| Q4 24 | — | $-7.11 | ||
| Q3 24 | — | $2.00 | ||
| Q2 24 | — | $3.96 | ||
| Q1 24 | — | $-4.72 |
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 | $27.6M | $669.0M |
| 总债务越低越好 | $20.0B | $6.2B |
| 股东权益账面价值 | $14.1B | $2.7B |
| 总资产 | $51.5B | $16.0B |
| 负债/权益比越低杠杆越低 | 1.42× | 2.26× |
8季度趋势，按日历期对齐
现金及短期投资WECWHR
| Q4 25 | $27.6M | $669.0M | ||
| Q3 25 | $51.1M | $934.0M | ||
| Q2 25 | $23.0M | $1.1B | ||
| Q1 25 | $82.2M | $1.0B | ||
| Q4 24 | $9.8M | $1.3B | ||
| Q3 24 | $322.5M | $1.1B | ||
| Q2 24 | $224.0M | $1.2B | ||
| Q1 24 | $38.9M | $1.2B |
总债务WECWHR
| Q4 25 | $20.0B | $6.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $18.9B | $6.6B | ||
| Q3 24 | $16.9B | — | ||
| Q2 24 | $16.9B | — | ||
| Q1 24 | $15.4B | — |
股东权益WECWHR
| Q4 25 | $14.1B | $2.7B | ||
| Q3 25 | $14.0B | $2.6B | ||
| Q2 25 | $13.7B | $2.6B | ||
| Q1 25 | $13.4B | $2.6B | ||
| Q4 24 | $12.8B | $2.7B | ||
| Q3 24 | $12.4B | $3.0B | ||
| Q2 24 | $12.4B | $3.1B | ||
| Q1 24 | $12.4B | $2.4B |
总资产WECWHR
| Q4 25 | $51.5B | $16.0B | ||
| Q3 25 | $49.8B | $16.9B | ||
| Q2 25 | $48.5B | $16.8B | ||
| Q1 25 | $48.2B | $16.5B | ||
| Q4 24 | $47.4B | $16.3B | ||
| Q3 24 | $45.2B | $17.2B | ||
| Q2 24 | $44.6B | $17.3B | ||
| Q1 24 | $43.9B | $17.4B |
负债/权益比WECWHR
| Q4 25 | 1.42× | 2.26× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.48× | 2.46× | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 1.36× | — | ||
| Q1 24 | 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 | $424.6M | $1.1B |
| 自由现金流经营现金流 - 资本支出 | — | $989.0M |
| 自由现金流率自由现金流/营收 | — | 24.1% |
| 资本支出强度资本支出/营收 | — | 3.7% |
| 现金转化率经营现金流/净利润 | 1.34× | 10.45× |
| 过去12个月自由现金流最近4个季度 | — | $81.0M |
8季度趋势，按日历期对齐
经营现金流WECWHR
| Q4 25 | $424.6M | $1.1B | ||
| Q3 25 | $938.9M | $33.0M | ||
| Q2 25 | $853.3M | $19.0M | ||
| Q1 25 | $1.2B | $-721.0M | ||
| Q4 24 | $581.8M | $1.1B | ||
| Q3 24 | $729.0M | $214.0M | ||
| Q2 24 | $1.0B | $388.0M | ||
| Q1 24 | $863.6M | $-873.0M |
自由现金流WECWHR
| Q4 25 | — | $989.0M | ||
| Q3 25 | $-625.7M | $-52.0M | ||
| Q2 25 | $23.9M | $-63.0M | ||
| Q1 25 | $461.5M | $-793.0M | ||
| Q4 24 | — | $970.0M | ||
| Q3 24 | $-67.3M | $127.0M | ||
| Q2 24 | $343.5M | $275.0M | ||
| Q1 24 | $419.1M | $-988.0M |
自由现金流率WECWHR
| Q4 25 | — | 24.1% | ||
| Q3 25 | -29.7% | -1.3% | ||
| Q2 25 | 1.2% | -1.7% | ||
| Q1 25 | 14.7% | -21.9% | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | -3.6% | 3.2% | ||
| Q2 24 | 19.4% | 6.9% | ||
| Q1 24 | 15.6% | -22.0% |
资本支出强度WECWHR
| Q4 25 | — | 3.7% | ||
| Q3 25 | 74.4% | 2.1% | ||
| Q2 25 | 41.3% | 2.2% | ||
| Q1 25 | 22.3% | 2.0% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | 42.7% | 2.2% | ||
| Q2 24 | 39.2% | 2.8% | ||
| Q1 24 | 16.6% | 2.6% |
现金转化率WECWHR
| Q4 25 | 1.34× | 10.45× | ||
| Q3 25 | 3.47× | 0.45× | ||
| Q2 25 | 3.51× | 0.29× | ||
| Q1 25 | 1.60× | -10.15× | ||
| Q4 24 | 1.28× | — | ||
| Q3 24 | 3.06× | 1.96× | ||
| Q2 24 | 4.94× | 1.77× | ||
| Q1 24 | 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
WEC
| Wisconsin | $1.9B | 73% |
| Illinois | $441.2M | 17% |
| Other States | $165.1M | 7% |
| External Revenues | $74.0M | 3% |
| Otheroperatingrevenues | $8.0M | 0% |
WHR
| Refrigeration | $1.2B | 30% |
| Laundry | $1.1B | 27% |
| Cooking | $1.1B | 26% |
| Dishwashing | $299.0M | 7% |
| Other | $266.0M | 6% |
| Spare Parts And Warranties | $139.0M | 3% |
