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美国铁塔（AMT）与富兰克林邓普顿（BEN）财务数据对比。点击上方公司名可切换其他公司
美国铁塔的季度营收约是富兰克林邓普顿的1.2倍（$2.7B vs $2.3B），美国铁塔净利率更高（110.1% vs 11.0%，领先99.1%），美国铁塔同比增速更快（6.8% vs 3.4%），过去两年富兰克林邓普顿的营收复合增速更高（4.0% vs 3.7%）
美国铁塔是全球规模最大的房地产投资信托基金（REIT）之一，作为领先的独立多租户通信地产持有、运营及开发商，目前在全球范围内拥有约21.9万个通信站点，为全球通信产业提供可靠的基础设施支持。
富兰克林资源（运营品牌为富兰克林邓普顿）是美国跨国投资管理控股集团，1947年创立于纽约，纽交所上市代码为BEN，命名源自创始人敬仰的本杰明·富兰克林，是全球知名的综合投资服务机构。
AMT vs BEN — 直观对比
营收规模更大
AMT
是对方的1.2倍
$2.3B
营收增速更快
AMT
高出3.5%
3.4%
净利率更高
AMT
高出99.1%
11.0%
两年增速更快
BEN
近两年复合增速
3.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $2.3B |
| 净利润 | $3.0B | $255.5M |
| 毛利率 | — | — |
| 营业利润率 | 0.0% | 12.1% |
| 净利率 | 110.1% | 11.0% |
| 营收同比 | 6.8% | 3.4% |
| 净利润同比 | -2.6% | 56.2% |
| 每股收益（稀释后） | — | $0.46 |
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AMTBEN
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $2.3B | ||
| Q3 25 | $2.7B | $2.3B | ||
| Q2 25 | $2.6B | $2.1B | ||
| Q1 25 | $2.6B | $2.1B | ||
| Q4 24 | $2.5B | $2.3B | ||
| Q3 24 | $2.5B | $2.2B | ||
| Q2 24 | $2.5B | $2.1B |
净利润AMTBEN
| Q1 26 | $3.0B | — | ||
| Q4 25 | $836.8M | $255.5M | ||
| Q3 25 | $912.6M | $117.6M | ||
| Q2 25 | $380.5M | $92.3M | ||
| Q1 25 | $498.6M | $151.4M | ||
| Q4 24 | $1.2B | $163.6M | ||
| Q3 24 | $-780.4M | $-84.7M | ||
| Q2 24 | $908.4M | $174.0M |
营业利润率AMTBEN
| Q1 26 | 0.0% | — | ||
| Q4 25 | 42.4% | 12.1% | ||
| Q3 25 | 45.4% | 3.6% | ||
| Q2 25 | 45.6% | 7.5% | ||
| Q1 25 | 48.9% | 6.9% | ||
| Q4 24 | 42.4% | 9.7% | ||
| Q3 24 | 45.2% | -6.8% | ||
| Q2 24 | 45.4% | 10.5% |
净利率AMTBEN
| Q1 26 | 110.1% | — | ||
| Q4 25 | 30.6% | 11.0% | ||
| Q3 25 | 33.6% | 5.0% | ||
| Q2 25 | 14.5% | 4.5% | ||
| Q1 25 | 19.5% | 7.2% | ||
| Q4 24 | 48.3% | 7.3% | ||
| Q3 24 | -30.9% | -3.8% | ||
| Q2 24 | 35.7% | 8.2% |
每股收益（稀释后）AMTBEN
| Q1 26 | — | — | ||
| Q4 25 | $1.76 | $0.46 | ||
| Q3 25 | $1.82 | $0.21 | ||
| Q2 25 | $0.78 | $0.15 | ||
| Q1 25 | $1.04 | $0.26 | ||
| Q4 24 | $2.63 | $0.29 | ||
| Q3 24 | $-1.69 | $-0.20 | ||
| Q2 24 | $1.92 | $0.32 |
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 | $1.6B | — |
| 总债务越低越好 | — | $2.4B |
| 股东权益账面价值 | $10.2B | $12.1B |
| 总资产 | — | $32.5B |
| 负债/权益比越低杠杆越低 | — | 0.19× |
8季度趋势，按日历期对齐
现金及短期投资AMTBEN
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.2B | — | ||
| Q2 24 | $2.2B | — |
总债务AMTBEN
| Q1 26 | — | — | ||
| Q4 25 | $33.8B | $2.4B | ||
| Q3 25 | $34.9B | $2.4B | ||
| Q2 25 | $35.2B | $2.7B | ||
| Q1 25 | $34.0B | $2.7B | ||
| Q4 24 | $32.8B | $2.8B | ||
| Q3 24 | $33.4B | $2.8B | ||
| Q2 24 | $35.6B | $3.0B |
股东权益AMTBEN
| Q1 26 | $10.2B | — | ||
| Q4 25 | $3.7B | $12.1B | ||
| Q3 25 | $4.0B | $12.1B | ||
| Q2 25 | $3.7B | $12.2B | ||
| Q1 25 | $3.5B | $12.3B | ||
| Q4 24 | $3.4B | $12.5B | ||
| Q3 24 | $3.6B | $12.5B | ||
| Q2 24 | $3.9B | $12.9B |
总资产AMTBEN
| Q1 26 | — | — | ||
| Q4 25 | $63.2B | $32.5B | ||
| Q3 25 | $63.9B | $32.4B | ||
| Q2 25 | $63.8B | $32.6B | ||
| Q1 25 | $62.1B | $32.0B | ||
| Q4 24 | $61.1B | $32.4B | ||
| Q3 24 | $62.8B | $32.5B | ||
| Q2 24 | $65.8B | $33.3B |
负债/权益比AMTBEN
| Q1 26 | — | — | ||
| Q4 25 | 9.26× | 0.19× | ||
| Q3 25 | 8.82× | 0.20× | ||
| Q2 25 | 9.48× | 0.22× | ||
| Q1 25 | 9.63× | 0.22× | ||
| Q4 24 | 9.70× | 0.22× | ||
| Q3 24 | 9.16× | 0.22× | ||
| Q2 24 | 9.24× | 0.24× |
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 | — | $-255.1M |
| 自由现金流经营现金流 - 资本支出 | $941.0M | — |
| 自由现金流率自由现金流/营收 | 34.4% | — |
| 资本支出强度资本支出/营收 | 16.8% | — |
| 现金转化率经营现金流/净利润 | — | -1.00× |
| 过去12个月自由现金流最近4个季度 | $6.7B | — |
8季度趋势，按日历期对齐
经营现金流AMTBEN
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | $-255.1M | ||
| Q3 25 | $1.5B | $-20.7M | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.3B | $-50.1M | ||
| Q4 24 | $5.3B | $-145.2M | ||
| Q3 24 | $1.5B | $558.2M | ||
| Q2 24 | $1.3B | $528.4M |
自由现金流AMTBEN
| Q1 26 | $941.0M | — | ||
| Q4 25 | $3.8B | — | ||
| Q3 25 | $994.5M | $-51.9M | ||
| Q2 25 | $976.9M | $1.3B | ||
| Q1 25 | $963.9M | $-87.6M | ||
| Q4 24 | $3.7B | $-217.0M | ||
| Q3 24 | $1.0B | $488.4M | ||
| Q2 24 | $1.0B | $482.3M |
自由现金流率AMTBEN
| Q1 26 | 34.4% | — | ||
| Q4 25 | 138.2% | — | ||
| Q3 25 | 36.6% | -2.2% | ||
| Q2 25 | 37.2% | 61.4% | ||
| Q1 25 | 37.6% | -4.1% | ||
| Q4 24 | 145.3% | -9.6% | ||
| Q3 24 | 41.4% | 22.1% | ||
| Q2 24 | 39.8% | 22.7% |
资本支出强度AMTBEN
| Q1 26 | 16.8% | — | ||
| Q4 25 | 61.4% | — | ||
| Q3 25 | 17.1% | 1.3% | ||
| Q2 25 | 11.6% | 0.7% | ||
| Q1 25 | 12.9% | 1.8% | ||
| Q4 24 | 62.4% | 3.2% | ||
| Q3 24 | 16.8% | 3.2% | ||
| Q2 24 | 12.8% | 2.2% |
现金转化率AMTBEN
| Q1 26 | — | — | ||
| Q4 25 | 6.53× | -1.00× | ||
| Q3 25 | 1.60× | -0.18× | ||
| Q2 25 | 3.37× | 13.89× | ||
| Q1 25 | 2.60× | -0.33× | ||
| Q4 24 | 4.30× | -0.89× | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.47× | 3.04× |
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
AMT
暂无分部数据
BEN
| Investment Advisory Management And Administrative Service | $1.8B | 79% |
| Sales And Distribution Fees | $388.7M | 17% |
| Shareholder Service | $70.9M | 3% |
| Service Other | $19.6M | 1% |
