datacenters, power & cooling · 產業指數 14 (排名 #58) ·
價格: 截至 2026-10-09 指數: 截至 2026-10-12 基本面: 最新申報文件 2026-06-30 按季揭露（財務資料來自 Yahoo Finance；未在 SEC 註冊）
Schneider Electric provides energy management and automation products, including data center power, cooling, and management systems (APC, Motivair).
產業曝險 0.4 (Energy management and automation leader where AI data center power and cooling is a large growth engine within a broad portfolio.)
沒有具流動性的選擇權——近期活躍度不足以讀出任何結論。
延遲的日終逐合約彙總資料——不是即時盤口，也不是逐筆資金流。買賣方向是根據每個合約最後一筆成交在買賣價差中的位置推斷出來的，並非觀測到的委託流。除非有報價的合約佔當日權利金的四分之一以上，否則公司層級的方向會被隱去，因此下方個別合約有方向時這裡也可能為空。買權/賣權權利金是在我們擷取的合約範圍內計算的——最近的 6 個到期日、45 天以內，並非完整選擇權鏈——而下表最多列出 20 個被標記的合約，所以把這些列加總不會還原出上面的百分比。
沒有異常選擇權活動——近期沒有超過門檻的紀錄。
選擇權成交量歷史還不足以繪圖。
新聞 主導了這次看空判斷；其餘代理人意見分歧，信心度反映的正是這種分歧。
多數投票者傾向一致；新聞 投了反對票。方向一致度 0.67。
一個明確的看空分數；信心度 0.57 反映的是代理人之間的一致強度。信心度是信心，不是價格變動的機率。
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.
評級: 寬
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).
類型: 轉換成本
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.
領先地位: 明確領先者
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.
定價權: 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.
依所引來源做出的人工整理護城河判斷。 來源：download.schneider-electric.com
層級: 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.
由這家公司已對應的供應鏈關係及其所屬產業層級推導而來。
護城河先驗在長週期（約 6 個月）投出 +0.38 票，權重為 0.20——該週期上的群體判斷是 neutral（分數 -0.05，信念度 0）。
編輯先驗——主觀、未經回測。它有界（±0.6）、低信賴度，且從不對短週期與中週期投票。 檢視它究竟如何投票 →
產品與服務，附編輯判定的市佔區間與技術門檻區間——這些是與所引依據綁定的定性判斷，絕非杜撰的數字。
| 產品 | 市場佔有率 | 技術門檻 |
|---|---|---|
| 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. | 領先 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. | 領先 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. | 領先 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. |
這些圖表繪製的是 Schneider Electric 在其 SEC 申報文件中已申報的損益表、現金流量表與資產負債表（截至 2026-06-30）。每一個數字都是申報原值 XBRL——沒有任何一項是預估。
在已申報的區間內，營收成長 29%，達到 $47.2B（FY2022→FY2025）; 毛利率從 41% 變為 42%; FY2025 淨利為 $4.9B。
分析師一致預期——來自 Yahoo Finance 的第三方預估，截至 2026-10-12。這不是 SEC 申報文件，也不是 TradingPilot 的預測。 來源：finance.yahoo.com
| 期間 | 每股盈餘（預估） | 營收（預估） | 年增率 |
|---|---|---|---|
| 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% |
每個數字顯示一致預期平均值、可得時的（最低–最高）區間，以及 · 後面給出該預估背後的分析師人數。
我們的模型在中週期上對這檔股票偏向 Low-confidence · Neutral——這是對市場方向的判斷，不是對獲利的預測。檢視「訊號」分頁。
部分近期數字取自 Yahoo Finance，用來補上最新 SEC 申報尚未發布的期間——已換算為美元，並與 SEC 申報期間核對過。
正在與同業比較…
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
影響 = 公司顯著度層級（高/中由圖譜中心度與規模自動判定；低僅用於人工整理的次要事件），並非對波動幅度的預測。
| 日期 | 事件 | 影響 | 結果 |
|---|---|---|---|
| 2026-07-30 | Schneider Electric earnings 已確認 | 高 | 結果待定 |
