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美国铁塔（AMT）与COMFORT SYSTEMS USA INC（FIX）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COMFORT SYSTEMS USA INC的1.0倍（$2.7B vs $2.6B），美国铁塔净利率更高（110.1% vs 12.5%，领先97.6%），COMFORT SYSTEMS USA INC同比增速更快（41.7% vs 6.8%），美国铁塔自由现金流更多（$941.0M vs $402.4M），过去两年COMFORT SYSTEMS USA INC的营收复合增速更高（31.2% 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。
Comfort Systems USA Inc.是一家美国企业，主营机电工程承包服务，核心业务覆盖暖通空调、给排水、管道工程、控制系统、场外预制建造、监测服务、消防系统，以及电气系统的安装与运维，为各类客户提供一体化机电设施解决方案。
AMT vs FIX — 直观对比
营收规模更大
AMT
是对方的1.0倍
$2.6B
营收增速更快
FIX
高出34.9%
6.8%
净利率更高
AMT
高出97.6%
12.5%
自由现金流更多
AMT
多$538.5M
$402.4M
两年增速更快
FIX
近两年复合增速
3.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $2.6B |
| 净利润 | $3.0B | $330.8M |
| 毛利率 | — | 25.5% |
| 营业利润率 | 0.0% | 16.1% |
| 净利率 | 110.1% | 12.5% |
| 营收同比 | 6.8% | 41.7% |
| 净利润同比 | -2.6% | 126.8% |
| 每股收益（稀释后） | — | $9.35 |
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AMTFIX
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $2.6B | ||
| Q3 25 | $2.7B | $2.5B | ||
| Q2 25 | $2.6B | $2.2B | ||
| Q1 25 | $2.6B | $1.8B | ||
| Q4 24 | $2.5B | $1.9B | ||
| Q3 24 | $2.5B | $1.8B | ||
| Q2 24 | $2.5B | $1.8B |
净利润AMTFIX
| Q1 26 | $3.0B | — | ||
| Q4 25 | $836.8M | $330.8M | ||
| Q3 25 | $912.6M | $291.6M | ||
| Q2 25 | $380.5M | $230.8M | ||
| Q1 25 | $498.6M | $169.3M | ||
| Q4 24 | $1.2B | $145.9M | ||
| Q3 24 | $-780.4M | $146.2M | ||
| Q2 24 | $908.4M | $134.0M |
毛利率AMTFIX
| Q1 26 | — | — | ||
| Q4 25 | — | 25.5% | ||
| Q3 25 | — | 24.8% | ||
| Q2 25 | — | 23.5% | ||
| Q1 25 | — | 22.0% | ||
| Q4 24 | — | 23.2% | ||
| Q3 24 | — | 21.1% | ||
| Q2 24 | — | 20.1% |
营业利润率AMTFIX
| Q1 26 | 0.0% | — | ||
| Q4 25 | 42.4% | 16.1% | ||
| Q3 25 | 45.4% | 15.5% | ||
| Q2 25 | 45.6% | 13.8% | ||
| Q1 25 | 48.9% | 11.4% | ||
| Q4 24 | 42.4% | 12.1% | ||
| Q3 24 | 45.2% | 11.2% | ||
| Q2 24 | 45.4% | 10.2% |
净利率AMTFIX
| Q1 26 | 110.1% | — | ||
| Q4 25 | 30.6% | 12.5% | ||
| Q3 25 | 33.6% | 11.9% | ||
| Q2 25 | 14.5% | 10.6% | ||
| Q1 25 | 19.5% | 9.2% | ||
| Q4 24 | 48.3% | 7.8% | ||
| Q3 24 | -30.9% | 8.1% | ||
| Q2 24 | 35.7% | 7.4% |
每股收益（稀释后）AMTFIX
| Q1 26 | — | — | ||
| Q4 25 | $1.76 | $9.35 | ||
| Q3 25 | $1.82 | $8.25 | ||
| Q2 25 | $0.78 | $6.53 | ||
| Q1 25 | $1.04 | $4.75 | ||
| Q4 24 | $2.63 | $4.08 | ||
| Q3 24 | $-1.69 | $4.09 | ||
| Q2 24 | $1.92 | $3.74 |
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 | $981.9M |
| 总债务越低越好 | — | $145.2M |
| 股东权益账面价值 | $10.2B | $2.4B |
| 总资产 | — | $6.4B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资AMTFIX
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.5B | $981.9M | ||
| Q3 25 | $2.0B | $860.5M | ||
| Q2 25 | $2.1B | $331.7M | ||
| Q1 25 | $2.1B | $204.8M | ||
| Q4 24 | $2.0B | $549.9M | ||
| Q3 24 | $2.2B | $415.6M | ||
| Q2 24 | $2.2B | $199.4M |
总债务AMTFIX
| Q1 26 | — | — | ||
| Q4 25 | $33.8B | $145.2M | ||
| Q3 25 | $34.9B | $136.0M | ||
| Q2 25 | $35.2B | $73.0M | ||
| Q1 25 | $34.0B | $67.8M | ||
| Q4 24 | $32.8B | $68.3M | ||
| Q3 24 | $33.4B | $62.3M | ||
| Q2 24 | $35.6B | $73.4M |
股东权益AMTFIX
| Q1 26 | $10.2B | — | ||
| Q4 25 | $3.7B | $2.4B | ||
| Q3 25 | $4.0B | $2.2B | ||
| Q2 25 | $3.7B | $2.0B | ||
| Q1 25 | $3.5B | $1.8B | ||
| Q4 24 | $3.4B | $1.7B | ||
| Q3 24 | $3.6B | $1.6B | ||
| Q2 24 | $3.9B | $1.5B |
总资产AMTFIX
| Q1 26 | — | — | ||
| Q4 25 | $63.2B | $6.4B | ||
| Q3 25 | $63.9B | $5.8B | ||
| Q2 25 | $63.8B | $5.1B | ||
| Q1 25 | $62.1B | $4.6B | ||
| Q4 24 | $61.1B | $4.7B | ||
| Q3 24 | $62.8B | $4.4B | ||
| Q2 24 | $65.8B | $4.2B |
负债/权益比AMTFIX
| Q1 26 | — | — | ||
| Q4 25 | 9.26× | 0.06× | ||
| Q3 25 | 8.82× | 0.06× | ||
| Q2 25 | 9.48× | 0.04× | ||
| Q1 25 | 9.63× | 0.04× | ||
| Q4 24 | 9.70× | 0.04× | ||
| Q3 24 | 9.16× | 0.04× | ||
| Q2 24 | 9.24× | 0.05× |
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 | — | $468.5M |
| 自由现金流经营现金流 - 资本支出 | $941.0M | $402.4M |
| 自由现金流率自由现金流/营收 | 34.4% | 15.2% |
| 资本支出强度资本支出/营收 | 16.8% | 2.5% |
| 现金转化率经营现金流/净利润 | — | 1.42× |
| 过去12个月自由现金流最近4个季度 | $6.7B | $1.0B |
8季度趋势，按日历期对齐
经营现金流AMTFIX
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | $468.5M | ||
| Q3 25 | $1.5B | $553.3M | ||
| Q2 25 | $1.3B | $252.5M | ||
| Q1 25 | $1.3B | $-88.0M | ||
| Q4 24 | $5.3B | $210.5M | ||
| Q3 24 | $1.5B | $302.2M | ||
| Q2 24 | $1.3B | $189.9M |
自由现金流AMTFIX
| Q1 26 | $941.0M | — | ||
| Q4 25 | $3.8B | $402.4M | ||
| Q3 25 | $994.5M | $517.9M | ||
| Q2 25 | $976.9M | $221.2M | ||
| Q1 25 | $963.9M | $-110.2M | ||
| Q4 24 | $3.7B | $169.8M | ||
| Q3 24 | $1.0B | $280.1M | ||
| Q2 24 | $1.0B | $166.5M |
自由现金流率AMTFIX
| Q1 26 | 34.4% | — | ||
| Q4 25 | 138.2% | 15.2% | ||
| Q3 25 | 36.6% | 21.1% | ||
| Q2 25 | 37.2% | 10.2% | ||
| Q1 25 | 37.6% | -6.0% | ||
| Q4 24 | 145.3% | 9.1% | ||
| Q3 24 | 41.4% | 15.5% | ||
| Q2 24 | 39.8% | 9.2% |
资本支出强度AMTFIX
| Q1 26 | 16.8% | — | ||
| Q4 25 | 61.4% | 2.5% | ||
| Q3 25 | 17.1% | 1.4% | ||
| Q2 25 | 11.6% | 1.4% | ||
| Q1 25 | 12.9% | 1.2% | ||
| Q4 24 | 62.4% | 2.2% | ||
| Q3 24 | 16.8% | 1.2% | ||
| Q2 24 | 12.8% | 1.3% |
现金转化率AMTFIX
| Q1 26 | — | — | ||
| Q4 25 | 6.53× | 1.42× | ||
| Q3 25 | 1.60× | 1.90× | ||
| Q2 25 | 3.37× | 1.09× | ||
| Q1 25 | 2.60× | -0.52× | ||
| Q4 24 | 4.30× | 1.44× | ||
| Q3 24 | — | 2.07× | ||
| Q2 24 | 1.47× | 1.42× |
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
FIX
| Electrical Segment | $823.7M | 31% |
| Manufacturing Customer | $542.7M | 21% |
| Existing Building Construction | $491.4M | 19% |
| Healthcare Sector Customer | $220.8M | 8% |
| Service Projects | $153.0M | 6% |
| Education | $137.5M | 5% |
| Government Customer | $131.0M | 5% |
| Office Building Customer | $88.2M | 3% |
| Other Customer | $40.7M | 2% |
| Multi Family And Residential | $33.7M | 1% |
