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美国铁塔（AMT）与TUTOR PERINI CORP（TPC）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TUTOR PERINI CORP的1.8倍（$2.7B vs $1.5B），美国铁塔净利率更高（110.1% vs 1.9%，领先108.2%），美国铁塔自由现金流更多（$941.0M vs $98.7M），过去两年TUTOR PERINI CORP的营收复合增速更高（19.9% 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。
Tutor Perini集团是美国顶尖的大型总承包商之一，2008年由Perini公司与Tutor-Saliba公司合并成立，总部位于加利福尼亚州西尔马。公司业务覆盖北美全境，2024年营收约43.3亿美元，核心业务涵盖桥梁、公路、隧道、机场、公共交通系统等民用基建项目，同时也涉足建筑工程领域。
AMT vs TPC — 直观对比
营收规模更大
AMT
是对方的1.8倍
$1.5B
净利率更高
AMT
高出108.2%
1.9%
自由现金流更多
AMT
多$842.3M
$98.7M
两年增速更快
TPC
近两年复合增速
3.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $1.5B |
| 净利润 | $3.0B | $28.8M |
| 毛利率 | — | 9.8% |
| 营业利润率 | 45.3% | 3.3% |
| 净利率 | 110.1% | 1.9% |
| 营收同比 | — | 41.2% |
| 净利润同比 | — | 136.3% |
| 每股收益（稀释后） | — | $0.53 |
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AMTTPC
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $1.5B | ||
| Q3 25 | $2.7B | $1.4B | ||
| Q2 25 | $2.6B | $1.4B | ||
| Q1 25 | $2.6B | $1.2B | ||
| Q4 24 | $2.5B | $1.1B | ||
| Q3 24 | $2.5B | $1.1B | ||
| Q2 24 | $2.5B | $1.1B |
净利润AMTTPC
| Q1 26 | $3.0B | — | ||
| Q4 25 | $836.8M | $28.8M | ||
| Q3 25 | $912.6M | $3.6M | ||
| Q2 25 | $380.5M | $20.0M | ||
| Q1 25 | $498.6M | $28.0M | ||
| Q4 24 | $1.2B | $-79.4M | ||
| Q3 24 | $-780.4M | $-100.9M | ||
| Q2 24 | $908.4M | $812.0K |
毛利率AMTTPC
| Q1 26 | — | — | ||
| Q4 25 | — | 9.8% | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | — | 14.3% | ||
| Q1 25 | — | 10.8% | ||
| Q4 24 | — | -0.9% | ||
| Q3 24 | — | -2.4% | ||
| Q2 24 | — | 10.4% |
营业利润率AMTTPC
| Q1 26 | 45.3% | — | ||
| Q4 25 | 42.4% | 3.3% | ||
| Q3 25 | 45.4% | 2.8% | ||
| Q2 25 | 45.6% | 5.6% | ||
| Q1 25 | 48.9% | 5.2% | ||
| Q4 24 | 42.4% | -8.1% | ||
| Q3 24 | 45.2% | -9.9% | ||
| Q2 24 | 45.4% | 3.6% |
净利率AMTTPC
| Q1 26 | 110.1% | — | ||
| Q4 25 | 30.6% | 1.9% | ||
| Q3 25 | 33.6% | 0.3% | ||
| Q2 25 | 14.5% | 1.5% | ||
| Q1 25 | 19.5% | 2.2% | ||
| Q4 24 | 48.3% | -7.4% | ||
| Q3 24 | -30.9% | -9.3% | ||
| Q2 24 | 35.7% | 0.1% |
每股收益（稀释后）AMTTPC
| Q1 26 | — | — | ||
| Q4 25 | $1.76 | $0.53 | ||
| Q3 25 | $1.82 | $0.07 | ||
| Q2 25 | $0.78 | $0.38 | ||
| Q1 25 | $1.04 | $0.53 | ||
| Q4 24 | $2.63 | $-1.53 | ||
| Q3 24 | $-1.69 | $-1.92 | ||
| Q2 24 | $1.92 | $0.02 |
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 | $734.6M |
| 总债务越低越好 | — | $407.4M |
| 股东权益账面价值 | $10.2B | $1.2B |
| 总资产 | — | $5.2B |
| 负债/权益比越低杠杆越低 | — | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资AMTTPC
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.5B | $734.6M | ||
| Q3 25 | $2.0B | $695.7M | ||
| Q2 25 | $2.1B | $526.1M | ||
| Q1 25 | $2.1B | $276.5M | ||
| Q4 24 | $2.0B | $455.1M | ||
| Q3 24 | $2.2B | $287.4M | ||
| Q2 24 | $2.2B | $267.1M |
总债务AMTTPC
| Q1 26 | — | — | ||
| Q4 25 | $33.8B | $407.4M | ||
| Q3 25 | $34.9B | $413.1M | ||
| Q2 25 | $35.2B | $419.4M | ||
| Q1 25 | $34.0B | $405.6M | ||
| Q4 24 | $32.8B | $534.1M | ||
| Q3 24 | $33.4B | $681.4M | ||
| Q2 24 | $35.6B | $676.4M |
股东权益AMTTPC
| Q1 26 | $10.2B | — | ||
| Q4 25 | $3.7B | $1.2B | ||
| Q3 25 | $4.0B | $1.2B | ||
| Q2 25 | $3.7B | $1.2B | ||
| Q1 25 | $3.5B | $1.2B | ||
| Q4 24 | $3.4B | $1.1B | ||
| Q3 24 | $3.6B | $1.2B | ||
| Q2 24 | $3.9B | $1.3B |
总资产AMTTPC
| Q1 26 | — | — | ||
| Q4 25 | $63.2B | $5.2B | ||
| Q3 25 | $63.9B | $5.2B | ||
| Q2 25 | $63.8B | $4.9B | ||
| Q1 25 | $62.1B | $4.5B | ||
| Q4 24 | $61.1B | $4.2B | ||
| Q3 24 | $62.8B | $4.4B | ||
| Q2 24 | $65.8B | $4.3B |
负债/权益比AMTTPC
| Q1 26 | — | — | ||
| Q4 25 | 9.26× | 0.33× | ||
| Q3 25 | 8.82× | 0.35× | ||
| Q2 25 | 9.48× | 0.35× | ||
| Q1 25 | 9.63× | 0.35× | ||
| Q4 24 | 9.70× | 0.47× | ||
| Q3 24 | 9.16× | 0.56× | ||
| Q2 24 | 9.24× | 0.52× |
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 | — | $173.7M |
| 自由现金流经营现金流 - 资本支出 | $941.0M | $98.7M |
| 自由现金流率自由现金流/营收 | 34.4% | 6.5% |
| 资本支出强度资本支出/营收 | 16.8% | 5.0% |
| 现金转化率经营现金流/净利润 | — | 6.02× |
| 过去12个月自由现金流最近4个季度 | $6.7B | $567.2M |
8季度趋势，按日历期对齐
经营现金流AMTTPC
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | $173.7M | ||
| Q3 25 | $1.5B | $289.1M | ||
| Q2 25 | $1.3B | $262.4M | ||
| Q1 25 | $1.3B | $22.9M | ||
| Q4 24 | $5.3B | $329.6M | ||
| Q3 24 | $1.5B | $22.6M | ||
| Q2 24 | $1.3B | $53.1M |
自由现金流AMTTPC
| Q1 26 | $941.0M | — | ||
| Q4 25 | $3.8B | $98.7M | ||
| Q3 25 | $994.5M | $240.2M | ||
| Q2 25 | $976.9M | $235.6M | ||
| Q1 25 | $963.9M | $-7.2M | ||
| Q4 24 | $3.7B | $320.4M | ||
| Q3 24 | $1.0B | $15.6M | ||
| Q2 24 | $1.0B | $42.2M |
自由现金流率AMTTPC
| Q1 26 | 34.4% | — | ||
| Q4 25 | 138.2% | 6.5% | ||
| Q3 25 | 36.6% | 17.0% | ||
| Q2 25 | 37.2% | 17.1% | ||
| Q1 25 | 37.6% | -0.6% | ||
| Q4 24 | 145.3% | 30.0% | ||
| Q3 24 | 41.4% | 1.4% | ||
| Q2 24 | 39.8% | 3.7% |
资本支出强度AMTTPC
| Q1 26 | 16.8% | — | ||
| Q4 25 | 61.4% | 5.0% | ||
| Q3 25 | 17.1% | 3.5% | ||
| Q2 25 | 11.6% | 2.0% | ||
| Q1 25 | 12.9% | 2.4% | ||
| Q4 24 | 62.4% | 0.9% | ||
| Q3 24 | 16.8% | 0.6% | ||
| Q2 24 | 12.8% | 1.0% |
现金转化率AMTTPC
| Q1 26 | — | — | ||
| Q4 25 | 6.53× | 6.02× | ||
| Q3 25 | 1.60× | 79.63× | ||
| Q2 25 | 3.37× | 13.14× | ||
| Q1 25 | 2.60× | 0.82× | ||
| Q4 24 | 4.30× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.47× | 65.44× |
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
TPC
| State And Local Agencies | $591.1M | 39% |
| Mass Transit | $449.9M | 30% |
| Federal Agencies | $115.0M | 8% |
| Bridges | $100.5M | 7% |
| Military Facilities | $93.1M | 6% |
| Commercial And Industrial Facilities | $46.7M | 3% |
| Detention Facilities | $43.8M | 3% |
| Power And Energy | $35.8M | 2% |
| Multi Unit Residential | $25.9M | 2% |
| Education Facilities | $12.0M | 1% |
| Water | $3.6M | 0% |
