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富兰克林邓普顿（BEN）与派拓网络（PANW）财务数据对比。点击上方公司名可切换其他公司
派拓网络的季度营收约是富兰克林邓普顿的1.1倍（$2.6B vs $2.3B），派拓网络净利率更高（16.7% vs 11.0%，领先5.7%），派拓网络同比增速更快（14.9% vs 3.4%），过去两年派拓网络的营收复合增速更高（14.3% vs 4.0%）
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。
派拓网络（Palo Alto Networks）是总部位于美国加利福尼亚州圣克拉拉的跨国网络安全企业，核心产品包括高级防火墙及拓展其防护能力的云原生安全服务，为全球150多个国家的超7万家机构、含85家财富100强企业提供服务，旗下拥有知名威胁研究团队Unit 42，还举办Ignite网络安全行业峰会。
BEN vs PANW — 直观对比
营收规模更大
PANW
是对方的1.1倍
$2.3B
营收增速更快
PANW
高出11.6%
3.4%
净利率更高
PANW
高出5.7%
11.0%
两年增速更快
PANW
近两年复合增速
4.0%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $2.6B |
| 净利润 | $255.5M | $432.0M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 12.1% | 15.3% |
| 净利率 | 11.0% | 16.7% |
| 营收同比 | 3.4% | 14.9% |
| 净利润同比 | 56.2% | 61.6% |
| 每股收益（稀释后） | $0.46 | $0.61 |
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BENPANW
| Q1 26 | — | $2.6B | ||
| Q4 25 | $2.3B | $2.5B | ||
| Q3 25 | $2.3B | $2.5B | ||
| Q2 25 | $2.1B | $2.3B | ||
| Q1 25 | $2.1B | $2.3B | ||
| Q4 24 | $2.3B | $2.1B | ||
| Q3 24 | $2.2B | $2.2B | ||
| Q2 24 | $2.1B | $2.0B |
净利润BENPANW
| Q1 26 | — | $432.0M | ||
| Q4 25 | $255.5M | $334.0M | ||
| Q3 25 | $117.6M | $253.8M | ||
| Q2 25 | $92.3M | $262.1M | ||
| Q1 25 | $151.4M | $267.3M | ||
| Q4 24 | $163.6M | $350.7M | ||
| Q3 24 | $-84.7M | $357.7M | ||
| Q2 24 | $174.0M | $278.8M |
毛利率BENPANW
| Q1 26 | — | 73.6% | ||
| Q4 25 | — | 74.2% | ||
| Q3 25 | — | 73.2% | ||
| Q2 25 | — | 72.9% | ||
| Q1 25 | — | 73.5% | ||
| Q4 24 | — | 74.1% | ||
| Q3 24 | — | 73.8% | ||
| Q2 24 | — | 74.1% |
营业利润率BENPANW
| Q1 26 | — | 15.3% | ||
| Q4 25 | 12.1% | 12.5% | ||
| Q3 25 | 3.6% | 19.6% | ||
| Q2 25 | 7.5% | 9.6% | ||
| Q1 25 | 6.9% | 10.6% | ||
| Q4 24 | 9.7% | 13.4% | ||
| Q3 24 | -6.8% | 10.9% | ||
| Q2 24 | 10.5% | 8.9% |
净利率BENPANW
| Q1 26 | — | 16.7% | ||
| Q4 25 | 11.0% | 13.5% | ||
| Q3 25 | 5.0% | 10.0% | ||
| Q2 25 | 4.5% | 11.5% | ||
| Q1 25 | 7.2% | 11.8% | ||
| Q4 24 | 7.3% | 16.4% | ||
| Q3 24 | -3.8% | 16.3% | ||
| Q2 24 | 8.2% | 14.0% |
每股收益（稀释后）BENPANW
| Q1 26 | — | $0.61 | ||
| Q4 25 | $0.46 | $0.47 | ||
| Q3 25 | $0.21 | $-0.14 | ||
| Q2 25 | $0.15 | $0.37 | ||
| Q1 25 | $0.26 | $0.38 | ||
| Q4 24 | $0.29 | $0.99 | ||
| Q3 24 | $-0.20 | $1.04 | ||
| Q2 24 | $0.32 | $0.79 |
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 | — | $4.5B |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $12.1B | $9.4B |
| 总资产 | $32.5B | $25.0B |
| 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BENPANW
| Q1 26 | — | $4.5B | ||
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $3.3B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.9B |
总债务BENPANW
| Q1 26 | — | — | ||
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.7B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.8B | — | ||
| Q2 24 | $3.0B | — |
股东权益BENPANW
| Q1 26 | — | $9.4B | ||
| Q4 25 | $12.1B | $8.7B | ||
| Q3 25 | $12.1B | $7.8B | ||
| Q2 25 | $12.2B | $7.2B | ||
| Q1 25 | $12.3B | $6.4B | ||
| Q4 24 | $12.5B | $5.9B | ||
| Q3 24 | $12.5B | $5.2B | ||
| Q2 24 | $12.9B | $4.5B |
总资产BENPANW
| Q1 26 | — | $25.0B | ||
| Q4 25 | $32.5B | $23.5B | ||
| Q3 25 | $32.4B | $23.6B | ||
| Q2 25 | $32.6B | $22.0B | ||
| Q1 25 | $32.0B | $21.0B | ||
| Q4 24 | $32.4B | $20.4B | ||
| Q3 24 | $32.5B | $20.0B | ||
| Q2 24 | $33.3B | $17.9B |
负债/权益比BENPANW
| Q1 26 | — | — | ||
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.20× | — | ||
| Q2 25 | 0.22× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.22× | — | ||
| Q3 24 | 0.22× | — | ||
| Q2 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 | $554.0M |
| 自由现金流经营现金流 - 资本支出 | — | $384.0M |
| 自由现金流率自由现金流/营收 | — | 14.8% |
| 资本支出强度资本支出/营收 | — | 6.6% |
| 现金转化率经营现金流/净利润 | -1.00× | 1.28× |
| 过去12个月自由现金流最近4个季度 | — | $3.6B |
8季度趋势，按日历期对齐
经营现金流BENPANW
| Q1 26 | — | $554.0M | ||
| Q4 25 | $-255.1M | $1.8B | ||
| Q3 25 | $-20.7M | $1.0B | ||
| Q2 25 | $1.3B | $628.7M | ||
| Q1 25 | $-50.1M | $556.9M | ||
| Q4 24 | $-145.2M | $1.5B | ||
| Q3 24 | $558.2M | $512.7M | ||
| Q2 24 | $528.4M | $528.9M |
自由现金流BENPANW
| Q1 26 | — | $384.0M | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | $-51.9M | $934.5M | ||
| Q2 25 | $1.3B | $560.4M | ||
| Q1 25 | $-87.6M | $509.4M | ||
| Q4 24 | $-217.0M | $1.5B | ||
| Q3 24 | $488.4M | $465.3M | ||
| Q2 24 | $482.3M | $491.5M |
自由现金流率BENPANW
| Q1 26 | — | 14.8% | ||
| Q4 25 | — | 68.2% | ||
| Q3 25 | -2.2% | 36.8% | ||
| Q2 25 | 61.4% | 24.5% | ||
| Q1 25 | -4.1% | 22.6% | ||
| Q4 24 | -9.6% | 68.5% | ||
| Q3 24 | 22.1% | 21.3% | ||
| Q2 24 | 22.7% | 24.8% |
资本支出强度BENPANW
| Q1 26 | — | 6.6% | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | 1.3% | 3.4% | ||
| Q2 25 | 0.7% | 3.0% | ||
| Q1 25 | 1.8% | 2.1% | ||
| Q4 24 | 3.2% | 2.1% | ||
| Q3 24 | 3.2% | 2.2% | ||
| Q2 24 | 2.2% | 1.9% |
现金转化率BENPANW
| Q1 26 | — | 1.28× | ||
| Q4 25 | -1.00× | 5.30× | ||
| Q3 25 | -0.18× | 4.02× | ||
| Q2 25 | 13.89× | 2.40× | ||
| Q1 25 | -0.33× | 2.08× | ||
| Q4 24 | -0.89× | 4.30× | ||
| Q3 24 | — | 1.43× | ||
| Q2 24 | 3.04× | 1.90× |
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
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% |
PANW
| Subscription | $1.4B | 54% |
| Support | $676.0M | 26% |
| Products | $514.0M | 20% |
