datacenters, power & cooling · 产业指数 14 (排名 #58) ·
价格: 截至 2026-10-09 指数: 截至 2026-10-12 基本面: 最新申报文件 2026-06-30 按季披露（财务数据来自 Yahoo Finance；未在 SEC 注册）
Schneider Electric provides energy management and automation products, including data center power, cooling, and management systems (APC, Motivair).
产业敞口 0.4 (Energy management and automation leader where AI data center power and cooling is a large growth engine within a broad portfolio.)
没有具流动性的期权——近期活跃度不足以读出任何结论。
延迟的日终逐合约汇总数据——不是实时盘口，也不是逐笔资金流。买卖方向是根据每个合约最后一笔成交在买卖价差中的位置推断出来的，并非观测到的委托流。除非有报价的合约占当日权利金的四分之一以上，否则公司层面的方向会被隐去，因此下方个别合约有方向时这里也可能为空。看跌/看涨权利金是在我们采集的合约范围内计算的——最近的 6 个到期日、45 天以内，并非完整期权链——而下表最多列出 20 个被标记的合约，所以把这些行加总不会还原出上面的百分比。
没有异常期权活动——近期没有超过阈值的记录。
期权成交量历史还不足以绘图。
新闻 主导了这次看空判断；其余智能体意见分歧，置信度反映的正是这种分歧。
多数投票者倾向一致；新闻 投了反对票。方向一致度 0.67。
一个明确的看空分数；置信度 0.57 反映的是智能体之间的一致强度。置信度是信心，不是价格变动的概率。
Schneider sells electrification, automation and digitalization into four end markets — Data Center & Networks (30% of 2025 orders), Buildings (29%), Industry (27%) and Infrastructure (14%) — and its 2025 URD claims a #1 position in electrical distribution in every one of them, sold through an ecosystem of panel builders, integrators, distributors and more than 1.4 million contractors and electricians. Energy Management is the larger and higher-margin half: EUR 33,130 million of FY2025 revenue, 83% of the Group, up +10.3% organic at a 21.8% adjusted EBITA margin, against EUR 7,022 million and 14.2% at Industrial Automation. In the July 30, 2026 half-year release the Data Center end-market continues to lead growth: Systems, 35% of Q2 revenues, grew +28% organic with prefabricated solutions, cooling technologies and 3-phase UPS all seeing significant growth.
评级: 宽
In its 2025 Universal Registration Document the Group states a #1 market position in electrical distribution in each of its four end markets, plus #1 in grid and #1 in industrial data and safety, reached through a channel it sizes at more than 1.4 million contractors and electricians alongside panel builders, integrators and distributors; FY2025 closed with a record-high backlog of EUR 25,362 million and, per the CFO section, a fifth consecutive year of profitability expansion, with adjusted EBITA margin at 18.7% (+50bps organic).
类型: 转换成本
The URD's own durability table assigns a Reference Service Life of 20 years to low-voltage equipment and 15 years to medium-voltage products, and the Group monetizes that installed stock repeatedly: it attributes Field Services growth to an increasing installed base, notably from Data Center, and reports recurring revenue at 79% of its agnostic-software revenues (AVEVA, ETAP, RIB), up 2 points year on year, with AVEVA ARR up +12% as of December 31, 2025.
领先地位: 明确领先者
The URD's end-market pages report #1 positions in electrical distribution across all four end markets, #1 in grid, #1 in industrial data and safety, and the most complete data-center portfolio including liquid cooling. These are the Group's own stated positions rather than a third-party ranking, and the same document names ABB, Legrand, Siemens, Eaton, Emerson, Honeywell, Johnson Controls, Rockwell Automation, Fuji Electric, Mitsubishi Electric and Yokogawa as the peer panel it is benchmarked against for TSR, a panel its compensation policy characterizes as business competitors.
定价权: 中等
Price is real but has not been covering input costs. FY2025 gross margin fell to 42.1%, down 40bps organic, with the URD stating that accelerating Q4 product pricing was insufficient to fully offset mix and raw-material cost inflation inclusive of tariffs; in the July 30, 2026 half-year release, gross pricing on products of +EUR 280 million was outweighed by a raw-material impact of -EUR 330 million and net tariffs of -EUR 104 million for a net price impact of -EUR 154 million, and the Group says it expects to be net-price positive only in H2 2026.
基于所引来源做出的人工整理护城河判断。 来源：download.schneider-electric.com
层级: datacenters, power & cooling
Supplies the power and cooling layer beneath AI compute: Data Center & Networks was 30% of 2025 orders, a market the URD places on a market CAGR above 10% from 2025 to 2030.
由这家公司已映射的供应链关系及其所属产业层级推导而来。
护城河先验在长周期（约 6 个月）上投出 +0.38 票，权重为 0.20——该周期上的群体判断是 neutral（得分 -0.05，信念度 0）。
编辑先验——主观、未经回测。它有界（±0.6）、低置信度，且从不对短周期与中周期投票。 查看它究竟如何投票 →
产品与服务，附编辑判定的市场份额区间与技术壁垒区间——这些是与所引依据绑定的定性判断，绝非杜撰的数字。
| 产品 | 市场份额 | 技术壁垒 |
|---|---|---|
| Data center power and cooling systems · Data center physical infrastructure Prefabricated integrated solutions, three-phase UPS, cooling, racks and enclosures, surge protection and remote monitoring for data centers. | 领先 For the Data Center & Networks end market, 30% of 2025 orders, the URD states the Group's market position as #1 in electrical distribution and #1 most complete portfolio including liquid cooling. | 深 The URD defines the offer as spanning prefabricated integrated solutions, uninterruptible power supplies, cooling, racks and enclosures, surge protection and remote monitoring alongside all electrical distribution and building automation, and names NVIDIA among the partnerships behind reliable deployment of advanced AI clusters. |
| Field Services · Services Maintenance, modernization and connected services on the Group's installed base. | 未知 The URD lists Field Services as one of the Digital Flywheel components and reports strong growth in it supported by an increasing installed base, notably from Data Center, but states no share position. | 中等 The URD attributes Field Services growth to that increasing installed base, and separately assigns its low-voltage equipment a Reference Service Life of 20 years and medium-voltage products 15 years. |
| Grid and infrastructure electrical systems · Infrastructure end market Medium-voltage distribution, automation and control for utility grid, transportation and water networks. | 领先 The Infrastructure end-market page, 14% of 2025 orders, states the Group's market position as #1 in electrical distribution, #1 in industrial data and #1 in grid. | 中等 The URD grounds this market in utility investment cycles — grid modernization, grid extension and grid digitalization, on a stated market CAGR of +5% to +7% for 2025-2030 — and names ABB, Legrand, Siemens, Eaton, Emerson, Honeywell, Johnson Controls, Rockwell Automation, Fuji Electric, Mitsubishi Electric and Yokogawa as the peer panel used for TSR comparison, described in its compensation policy as business competitors. |
| Industrial automation and industrial software · Industrial Automation segment Discrete, process and hybrid automation and control plus industrial software including AVEVA, Foxboro and Triconex. | 未知 The Industry end-market page claims #1 in industrial data and safety, but the URD states no overall position for industrial automation; the segment was EUR 7,022 million, 17% of FY2025 revenue, up +3.0% organic against +10.3% at Energy Management. | 中等 The software side is contracted rather than transactional — recurring revenue reached 79% of agnostic-software revenues (AVEVA, ETAP, RIB) in FY2025, up 2 points year on year, with AVEVA ARR up +12% — while the segment as a whole earned a 14.2% adjusted EBITA margin in FY2025 against 21.8% at Energy Management. |
| Liquid cooling for high-density compute (Motivair) · Thermal management Liquid cooling and advanced thermal management for high-performance computing systems. | 未知 The URD claims the most complete data-center portfolio including liquid cooling but discloses no share position for cooling itself. | 中等 Schneider bought rather than built the capability: it completed the acquisition of an initial 75% controlling interest in Motivair Corporation, specialized in liquid cooling and advanced thermal management for high-performance computing, for EUR 847 million in cash on February 28, 2025, with the remaining 25% subject to a 2028 put/call. |
| Low- and medium-voltage electrical distribution · Energy Management equipment Switchgear, circuit breakers, enclosures and power-distribution equipment sold into all four end markets. | 领先 Each of the URD's four end-market pages states the Group's market position as #1 in electrical distribution — in Data Center & Networks, Buildings, Industry and Infrastructure. | 深 The URD routes this equipment through an ecosystem it sizes at more than 1.4 million contractors and electricians plus panel builders, integrators and distributors, and its durability table assigns the installed gear a Reference Service Life of 20 years for low-voltage equipment and 15 years for medium-voltage products. |
这些图表绘制的是 Schneider Electric 在其 SEC 申报文件中已申报的利润表、现金流量表与资产负债表（截至 2026-06-30）。每一个数字都是申报原值 XBRL——没有任何一项是预估。
在已申报的区间内，营收增长 29%，达到 $47.2B（FY2022→FY2025）; 毛利率从 41% 变为 42%; FY2025 净利润为 $4.9B。
分析师一致预期——来自 Yahoo Finance 的第三方预估，截至 2026-10-12。这不是 SEC 申报文件，也不是 TradingPilot 的预测。 来源：finance.yahoo.com
| 期间 | 每股收益（预估） | 营收（预估） | 同比 |
|---|---|---|---|
| Q/E Sep 2026 | — | EUR 11.1B (EUR 10.9B–EUR 11.4B) · 7 | — |
| FY 2026 | — | EUR 44.9B (EUR 42.6B–EUR 45.6B) · 22 | +12% |
每个数字显示一致预期均值、可得时的（最低–最高）区间，以及 · 后面给出该预估背后的分析师人数。
我们的模型在中周期上对这只股票偏向 Low-confidence · Neutral——这是对市场方向的判断，不是对盈利的预测。查看“信号”标签。
部分近期数字来自 Yahoo Finance，用于填补最新 SEC 申报尚未发布的期间——已折算为美元，并与 SEC 申报期间做过核对。
正在与同业比较…
SEC EDGAR (8-K Exhibit 99.1) · 2026-10-05 · 合作
Schneider Electric and PTC signed a definitive agreement for Schneider to acquire PTC for $205 per share in cash, valuing PTC's equity at approximately $22.6 billion. Closing is anticipated by Q3 2027, subject to PTC shareholder and regulatory approvals.
NVIDIA Blog · 2026-08-08 · 合作
NVIDIA says AI cloud company Firebird has brought online the CIS region's largest AI factory in Hrazdan, Armenia, deployed in just over six months. Firebird plans to deploy more than 70,000 NVIDIA Rubin and Blackwell GPUs and 300 megawatts of AI infrastructure capacity in Armenia by the end of 2027, on a 2-gigawatt global roadmap spanning Armenia, Kazakhstan and additional markets. NVIDIA says it intends to invest in Firebird; partners include Dell Technologies, CoreWeave, Schneider Electric and Vertiv, with Perplexity an early customer.
Google News: Schneider Electric · 2026-07-15 · 合作
Schneider Electric agreed to acquire Cognite in a deal valued at $3.1 billion.
2026-10-08 Business Wire Energy · L’avenir énergétique du Canada au cœur des débats : Schneider Electric lance les Journées de l’innovation Canada
2026-10-08 Business Wire Energy · Canada's Energy Future Takes Centre Stage as Schneider Electric Launches Innovation Days Canada
2026-10-06 Yahoo Finance: SBGSY · Schneider Electric slides as J.P. Morgan sees PTC deal weighing on valuation
2026-10-06 Yahoo Finance: SBGSY · Schneider Electric agrees $22.6bn all-cash deal to acquire PTC
2026-10-06 Yahoo Finance: SBGSY · Schneider Electric Just Lost €15 Billion in a Day. Here’s What Spooked Investors
2026-10-05 Yahoo Finance: SBGSY · PTC Rises on Schneider Electric's $23.7 Billion Takeover Deal | Closing Bell
2026-10-05 Yahoo Finance: SBGSY · PTC Soars 33% on $22.6 Billion All-Cash Schneider Electric Buyout: “Certain and Compelling Value”
2026-10-01 PR Newswire Energy · SQC and Schneider Electric Use Hybrid Quantum-Classical Models to Improve Energy Forecasting
2026-10-01 PR Newswire Energy · Wärtsilä, Schneider Electric and Stanley Consultants launch coordinated approach for faster U.S. data center power delivery
2026-09-28 PR Newswire Energy · Schneider Electric Unveils World's First Software-Defined Medium Voltage Switchgear to Expand AI-Ready Data Center Power Portfolio
2026-09-28 PR Newswire Energy · Schneider Electric Showcases Technologies Advancing Water Resilience at WEFTEC 2026
2026-09-23 Business Wire Energy · UL Solutions Introduces Certification Program for Prefabricated Data Center Power Distribution Systems, Awards First Certification to Schneider Electric
2026-09-21 Business Wire Contracts/Agreements · شراكة بين Lenovo وSchneider Electric لتمكين شركاء قنوات تكنولوجيا المعلومات من أدوات وخبرات إزالة الكربون
2026-09-21 Business Wire Contracts/Agreements · Lenovo und Schneider Electric gehen eine Partnerschaft ein, um IT-Vertriebspartnern Instrumente und Fachwissen zur Dekarbonisierung zur Verfügung zu stellen
2026-09-21 Business Wire AI · Lenovo與Schneider Electric攜手合作，為IT通路合作夥伴帶來脫碳工具與專業支援
2026-09-21 Business Wire AI · Lenovo与Schneider Electric携手合作，为IT渠道合作伙伴带来脱碳工具与专业支持
2026-09-21 Business Wire AI · Lenovo e Schneider Electric firmam parceria para levar ferramentas e conhecimento especializado em descarbonização a parceiros de canal de TI
2026-09-21 Business Wire AI · Lenovo et Schneider Electric s'associent pour proposer des outils et une expertise en matière de décarbonisation à leurs partenaires de distribution dans le secteur informatique
2026-09-21 Business Wire Energy · Samenvatting: Lenovo en Schneider Electric werken samen om tools en expertise voor decarbonisatie naar IT-channelpartners te brengen
2026-09-21 Business Wire Energy · Lenovo y Schneider Electric se alían para ofrecer herramientas y experiencia en descarbonización a los socios del canal de TI
影响 = 公司显著度层级（高/中由图谱中心度与规模自动判定；低仅用于人工整理的次要事件），不是对波动幅度的预测。
| 日期 | 事件 | 影响 | 结果 |
|---|---|---|---|
| 2026-07-30 | Schneider Electric earnings 已确认 | 高 | 结果待定 |
