NRG Energy, Inc. (NRG)财务
NYSE · Utilities · Independent Power Producers · 员工16,702人 · CEO Robert J. Gaudette
- 股价
- $96.06 -1.52%
- 市值
- $202亿
- 企业价值
- $435亿
- 最近财报
- Q2 '26 2026-08-04提交
- 下次财报
- 2026-11-09 EPS预期 $3.35
营收(TTM)$332亿+12.9% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)5.7%+1.3 百分点 对比去年同期营业利润 $19.1亿
净利润(TTM)$8.49亿+62.6% 对比去年同期税后,含营业外收益
自由现金流(TTM)$3.48亿-75.0% 对比去年同期资本支出 $12.1亿
稀释EPS(TTM)$3.78+71.8% 对比去年同期最近4个季度之和
净现金-$233亿-113.1% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $202亿 EV $435亿
- 营收
- $332亿 过去12个月
- 营收增速
- +10% FY2026年一致预期
- 净利润率
- 2.6% 净利润 / 营收,TTM
- P/E
- 25.3× 预期 11.0×(FY2026)
- P/S
- 0.6× 股价 / 营收,TTM
- EV / EBITDA
- 13.8× TTM
- 自由现金流
- $3.48亿 过去12个月
- 净利润
- $8.49亿 过去12个月
- 营收预期
- $338亿 FY2026年一致预期
- 盈利
- 2026-11-09 营收预期 $84.2亿
- 股息
- $1.87 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-04):营收超预期2.3%,EPS 低于预期11.8%营收$74.8亿,预期$73.1亿(+2.3%);EPS $1.49,预期$1.69(-11.8%)。
- 营收增长平稳:同比11.0%Q2 '26营收$74.8亿,此前四个季度的平均值为10.1%。
- 营业利润率5.7%(TTM),较去年同期+1.3 百分点营收增长12.9%,营业利润增长44.5%。
- 税前利润的92.1%被营业外亏损吞噬税前利润$9.92亿,营业利润$19.1亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的3.6%(去年为3.0%)最近4个季度投入$12.1亿(同比+34.9%)。自由现金流$3.48亿,相当于净利润的41.0%。
- 股东回报$10.6亿 = 自由现金流的303.4%回购$6.17亿(去年为$15.3亿),股息$4.39亿,股权激励$1.44亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内增加8.2%Q2 '26稀释股数2.12亿,一年前为1.96亿。
- 净债务 $233亿现金 + 短期投资 $1.62亿,含租赁债务 $235亿;一年前净债务 $109亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $74.8亿 | $67.4亿 | +11.0% |
| 毛利率 | 26.9% | 16.5% | +10.4 百分点 |
| 营业利润 | $9.76亿 | $4300万 | +2,169.8% |
| 营业利润率 | 13.0% | 0.6% | +12.4 百分点 |
| 净利润 | $5.06亿 | -$1.04亿 | +586.5% |
| 稀释EPS | $2.31 | -$0.62 | +472.6% |
| 经营现金流 | $11.2亿 | $4.51亿 | +147.7% |
| 资本支出 | $3.38亿 | $3.78亿 | -10.6% |
| 自由现金流 | $7.79亿 | $7300万 | +967.1% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $3100万 | $3300万 | -6.1% |
实际 vs 一致预期
2026-08-04| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $74.8亿 | $73.1亿 | +2.3% |
| EPS(一致预期口径) | $1.49 | $1.69 | -11.8% |
来自2026-08-04发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| East Segment | – | – | – | – | – | |
| Texas Segment | – | – | – | – | – | |
| East | $35.1亿 | – | 46.9% | – | – | |
| Texas | $27.5亿 | – | 36.7% | – | – | |
| West, Services and Other Segment | – | – | – | – | – | |
| Vivint Smart Home Segment | – | – | – | – | – | |
| West/Other | $6.44亿 | – | 8.6% | – | – | |
| Vivint Smart Home | $5.87亿 | – | 7.8% | – | – | |
| Eliminations | -$900万 | – | -0.1% | – | – | |
| Corporate | $0 | – | 0.0% | – | – |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| East Segment | $35.1亿 | +28.3% | 50.8% | $215亿 | – | |
| Texas Segment | $27.5亿 | -3.3% | 39.8% | $134亿 | – | |
| West | $6.44亿 | – | 9.3% | – | – |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q2 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Texas Segment | – | – | $2.89亿 | -24.3% | – | – | $7.12亿 |
| East Segment | – | – | $5.06亿 | +246.2% | – | – | $11亿 |
| West Services And Other Segment | – | – | – | – | – | – | – |
| Vivint Smart Home Segment | – | – | $7100万 | +161.7% | – | – | – |
| Corporate (unallocated) | – | – | -$4400万 | +30.2% | – | – | -$1.91亿 |
| West And Other Segment | – | – | $1.54亿 | +8.5% | – | – | – |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $15.6亿
- 资本支出
- -$12.1亿
- 股票回购
- -$6.17亿
- 股息
- -$4.39亿
- 收购
- -$65.3亿
- 债务净发行
- $62亿
- 股权激励费用
- $1.44亿
- 自由现金流
- $3.48亿
- 股东回报 / FCF
- 303.4%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 25.3× | 16.9× 5年中的4年 | 4.8× – 38.9× |
| EV / EBITDA | 13.8× | 8.9× | 4.4× – 13.1× |
| EV / 营收 | 1.3× | 0.9× | 0.5× – 1.4× |
| 股价 / FCF | 58.0× | 32.6× 5年中的3年 | 10.1× – 47.1× |
| 股价 / 净资产 | 4.2× | 7.0× | 2.0× – 18.5× |
| FCF收益率 | 1.7% | 1.5% | -6.9% – 9.9% |
| 投入资本回报率 | 5.2% | 9.3% | 2.1% – 16.6% |
| 净资产收益率 | 25.4% | 36.5% | -7.0% – 60.8% |
分析师
一致目标价 $172.43 (+79.5%)
区间 $131.00 – $221.00 · 评级 Buy
强烈买入1
买入19
持有7
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $338亿 | +10.0% | $8.73 | +117.7% | 11.0× | 6 |
| FY2027 | $342亿 | +1.1% | $10.24 | +17.3% | 9.4× | 8 |
| FY2028 | $355亿 | +3.9% | $12.27 | +19.8% | 7.8× | 6 |
| FY2029 | $365亿 | +2.8% | $14.19 | +15.7% | 6.8× | 3 |
| FY2030 | $376亿 | +3.0% | $16.86 | +18.8% | 5.7× | 2 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
NRG Energy, Inc.在近期10-Q / 10-K文件中标记的全部309项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $25.8亿 | $25.4亿 | +1.4% | $28.3亿 | $25.1亿 | +12.8% |
| Accounts Receivable, after Allowance for Credit Loss | $35.3亿 | $34.2亿 | +3.3% | $40.7亿 | $34.9亿 | +16.5% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $35.3亿 | $34.2亿 | +3.3% | $40.7亿 | $34.9亿 | +16.5% |
| Accounts Receivable, Allowance for Credit Loss | $1.38亿 | $1.27亿 | +8.7% | $1.46亿 | $1.52亿 | -3.9% |
| Accounts Receivable, Allowance for Credit Loss, Recovery | $900万 | $1100万 | -18.2% | $4600万 | $3800万 | +21.1% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | $7300万 | $9100万 | -19.8% | $3.43亿 | $3.63亿 | -5.5% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $4500万 | $5700万 | -21.1% | $2.72亿 | $3.14亿 | -13.4% |
| Accretion Expense, Including Asset Retirement Obligations | – | – | – | $2900万 | $3400万 | -14.7% |
| Accrued Liabilities, Current | $18.6亿2025-12-31 | $20.3亿 | -8.2% | $18.6亿 | $20.3亿 | -8.2% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $19.3亿 | $16.3亿 | +18.3% | $18.1亿2018-12-31 | $22.6亿 | -19.7% |
| Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | -$5100万2025-12-31 | -$7200万 | +29.2% | -$5100万 | -$7200万 | +29.2% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$8700万 | -$1.01亿 | +13.9% | -$8100万 | -$1.17亿 | +30.8% |
| Additional Collateral, Aggregate Fair Value | $6100万 | $1300万 | +369.2% | $5500万 | $1000万 | +450.0% |
| Additional Paid in Capital, Common Stock | $38.8亿 | $3.05亿 | +1,172.1% | $2.15亿 | $7.05亿 | -69.5% |
| Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature | $02025-09-30 | – | – | $0 | – | – |
| Advertising Expense | – | – | – | $2.39亿 | $2.15亿 | +11.2% |
| Amortization of Debt Issuance Costs and Discounts | $500万 | $700万 | -28.6% | $5100万 | $3900万 | +30.8% |
| Amortization of Deferred Sales Commissions | $9300万 | $6800万 | +36.8% | $2.95亿 | $2.04亿 | +44.6% |
| Amortization of Intangible Assets | $1.33亿 | $1.55亿 | -14.2% | $6.73亿 | $8.76亿 | -23.2% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $1200万 | -$300万 | +500.0% | $4800万 | $5700万 | -15.8% |
| Asset Impairment Charges | $02025-12-31 | $2100万 | -100.0% | $0 | $3600万 | -100.0% |
| Asset Retirement Obligation | $3.89亿2025-12-31 | $4.09亿 | -4.9% | $3.89亿 | $4.09亿 | -4.9% |
| Asset Retirement Obligation, Accretion Expense | $300万2025-12-31 | -$400万 | +175.0% | $2500万 | $2500万 | 0.0% |
| Asset Retirement Obligation, Liabilities Incurred | – | – | – | $4700万 | $3500万 | +34.3% |
| Asset Retirement Obligation, Revision of Estimate | – | – | – | -$2000万 | $600万 | -433.3% |
| Assets | $399亿 | $241亿 | +65.8% | $291亿 | $240亿 | +21.3% |
| Assets, Current | $96.5亿 | $82亿 | +17.8% | $131亿 | $89.6亿 | +46.7% |
| Assets, Fair Value Disclosure | $42.9亿 | $32.5亿 | +32.1% | $31.8亿 | $34.3亿 | -7.5% |
| Capitalized Contract Cost, Amortization | $1.69亿 | $1.18亿 | +43.2% | $5.1亿 | $3.32亿 | +53.6% |
| Capitalized Contract Cost, Net | $19.5亿 | $14.8亿 | +31.8% | $16.8亿 | $12.2亿 | +37.7% |
| Cash and Cash Equivalents, at Carrying Value | $1.62亿 | $1.8亿 | -10.0% | $47.1亿 | $9.66亿 | +387.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $3.79亿 | $6.43亿 | -41.1% | $50亿 | $11.7亿 | +326.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$3200万 | -$7.95亿 | +96.0% | $38.3亿 | $5.24亿 | +630.0% |
| Common Stock, Dividends, Per Share, Cash Paid | $0.48 | $0.44 | +8.0% | $1.76 | $1.63 | +8.0% |
| Common Stock, Dividends, Per Share, Declared | $1.762026-03-31 | – | – | $1.76 | $1.63 | +8.0% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 5亿 | 5亿 | 0.0% | 5亿 | 5亿 | 0.0% |
| Common Stock, Shares, Issued | 2.25亿 | 2.01亿 | +12.0% | 2亿 | 2.05亿 | -2.6% |
| Common Stock, Shares, Outstanding | 2.1亿 | 1.95亿 | +8.1% | 1.9亿 | 1.99亿 | -4.1% |
| Common Stock, Value, Issued | $200万 | $200万 | 0.0% | $200万 | $200万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $5.03亿 | -$9000万 | +658.9% | $9亿 | $11亿 | -18.1% |
| Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure | -$2亿 | -$9亿 | +77.8% | – | – | – |
| Contract with Customer, Liability | $16.4亿2025-12-31 | $15.7亿 | +4.5% | $16.4亿 | $15.7亿 | +4.5% |
| Contract with Customer, Liability, Current | $8.37亿 | $7.15亿 | +17.1% | $7.48亿 | $7.11亿 | +5.2% |
| Contract with Customer, Liability, Noncurrent | $9.84亿 | $9.05亿 | +8.7% | $8.95亿 | $8.62亿 | +3.8% |
| Contract with Customer, Liability, Revenue Recognized | $3.27亿 | $2.85亿 | +14.7% | $6.98亿 | $6.06亿 | +15.2% |
| Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization | $54.7亿 | $56.3亿 | -2.8% | $248亿 | $221亿 | +12.0% |
| Costs and Expenses | $65.4亿 | $67.4亿 | -2.9% | $288亿 | $259亿 | +11.3% |
| Costs Incurred, Asset Retirement Obligation Incurred | – | – | – | $1800万 | $600万 | +200.0% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$1700万 | $5500万 | -130.9% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1600万 | $500万 | +220.0% |
| Current Income Tax Expense (Benefit) | – | – | – | $4800万 | $1.42亿 | -66.2% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $4900万 | $8200万 | -40.2% |
| Debt and Lease Obligation | $234亿 | $110亿 | +112.4% | $166亿 | $109亿 | +52.2% |
| Debt Instrument, Unamortized Discount (Premium), Net | $400万 | $1200万 | -66.7% | $1100万 | $1200万 | -8.3% |
| Debt Issuance Costs, Net | $1.77亿 | $7900万 | +124.1% | $1.46亿 | $8600万 | +69.8% |
| Debt Securities, Available-for-sale | $3400万 | $2800万 | +21.4% | $3300万 | $2800万 | +17.9% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $2.21亿 | $3.33亿 | -33.6% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$1000万 | -$1800万 | +44.4% |
| Deferred Income Tax Assets, Net | $17.3亿 | $19.4亿 | -10.9% | $18.4亿 | $20.7亿 | -10.8% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-02