vs
TopBuild Corp（BLD）与第一太阳能（FSLR）财务数据对比。点击上方公司名可切换其他公司
第一太阳能的季度营收约是TopBuild Corp的1.1倍（$1.7B vs $1.5B），第一太阳能净利率更高（31.0% vs 7.0%，领先23.9%），TopBuild Corp同比增速更快（13.2% vs 11.1%），第一太阳能自由现金流更多（$1.1B vs $159.4M），过去两年第一太阳能的营收复合增速更高（45.6% vs 7.8%）
HashiCorp是总部位于美国加利福尼亚州旧金山的软件企业，2012年由米切尔·桥本与阿蒙·达德加创立，采用免费增值商业模式，为开发、运维及安全从业人员提供云基础设施配置、防护、运行与连接相关的工具及产品。
第一太阳能是美国上市光伏面板制造商，1990年成立时名为Solar Cells, Inc.，1999年被True North Partners收购后改为现名。公司采用碲化镉（CdTe）半导体技术生产刚性薄膜光伏面板，旗下所有生产基地均提供退役面板回收服务。
BLD vs FSLR — 直观对比
营收规模更大
FSLR
是对方的1.1倍
$1.5B
营收增速更快
BLD
高出2.0%
11.1%
净利率更高
FSLR
高出23.9%
7.0%
自由现金流更多
FSLR
多$910.8M
$159.4M
两年增速更快
FSLR
近两年复合增速
7.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.7B |
| 净利润 | $104.5M | $520.9M |
| 毛利率 | 27.2% | 39.5% |
| 营业利润率 | 12.1% | 32.6% |
| 净利率 | 7.0% | 31.0% |
| 营收同比 | 13.2% | 11.1% |
| 净利润同比 | -30.6% | 32.5% |
| 每股收益（稀释后） | $3.69 | $4.84 |
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BLDFSLR
| Q4 25 | $1.5B | $1.7B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.2B | $844.6M | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $1.4B | $887.7M | ||
| Q2 24 | $1.4B | $1.0B | ||
| Q1 24 | $1.3B | $794.1M |
净利润BLDFSLR
| Q4 25 | $104.5M | $520.9M | ||
| Q3 25 | $142.2M | $455.9M | ||
| Q2 25 | $151.6M | $341.9M | ||
| Q1 25 | $123.4M | $209.5M | ||
| Q4 24 | $150.5M | $393.1M | ||
| Q3 24 | $169.0M | $313.0M | ||
| Q2 24 | $150.7M | $349.4M | ||
| Q1 24 | $152.4M | $236.6M |
毛利率BLDFSLR
| Q4 25 | 27.2% | 39.5% | ||
| Q3 25 | 30.1% | 38.3% | ||
| Q2 25 | 30.4% | 45.6% | ||
| Q1 25 | 28.5% | 40.8% | ||
| Q4 24 | 29.9% | 37.5% | ||
| Q3 24 | 30.7% | 50.2% | ||
| Q2 24 | 31.0% | 49.4% | ||
| Q1 24 | 30.3% | 43.6% |
营业利润率BLDFSLR
| Q4 25 | 12.1% | 32.6% | ||
| Q3 25 | 15.4% | 29.2% | ||
| Q2 25 | 16.9% | 33.0% | ||
| Q1 25 | 14.4% | 26.2% | ||
| Q4 24 | 16.6% | 30.2% | ||
| Q3 24 | 17.8% | 36.3% | ||
| Q2 24 | 15.4% | 36.9% | ||
| Q1 24 | 16.8% | 30.6% |
净利率BLDFSLR
| Q4 25 | 7.0% | 31.0% | ||
| Q3 25 | 10.2% | 28.6% | ||
| Q2 25 | 11.7% | 31.2% | ||
| Q1 25 | 10.0% | 24.8% | ||
| Q4 24 | 11.5% | 26.0% | ||
| Q3 24 | 12.3% | 35.3% | ||
| Q2 24 | 11.0% | 34.6% | ||
| Q1 24 | 11.9% | 29.8% |
每股收益（稀释后）BLDFSLR
| Q4 25 | $3.69 | $4.84 | ||
| Q3 25 | $5.04 | $4.24 | ||
| Q2 25 | $5.32 | $3.18 | ||
| Q1 25 | $4.23 | $1.95 | ||
| Q4 24 | $5.07 | $3.66 | ||
| Q3 24 | $5.65 | $2.91 | ||
| Q2 24 | $4.78 | $3.25 | ||
| Q1 24 | $4.79 | $2.20 |
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 | $184.7M | $2.8B |
| 总债务越低越好 | $2.8B | — |
| 股东权益账面价值 | $2.3B | $9.5B |
| 总资产 | $6.6B | $13.3B |
| 负债/权益比越低杠杆越低 | 1.23× | — |
8季度趋势，按日历期对齐
现金及短期投资BLDFSLR
| Q4 25 | $184.7M | $2.8B | ||
| Q3 25 | $1.1B | $2.0B | ||
| Q2 25 | $842.5M | $1.1B | ||
| Q1 25 | $308.8M | $837.6M | ||
| Q4 24 | $400.3M | $1.6B | ||
| Q3 24 | $257.3M | $1.0B | ||
| Q2 24 | $463.2M | $1.7B | ||
| Q1 24 | $968.8M | $1.7B |
总债务BLDFSLR
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
股东权益BLDFSLR
| Q4 25 | $2.3B | $9.5B | ||
| Q3 25 | $2.2B | $9.0B | ||
| Q2 25 | $2.1B | $8.5B | ||
| Q1 25 | $2.1B | $8.2B | ||
| Q4 24 | $2.2B | $8.0B | ||
| Q3 24 | $2.1B | $7.6B | ||
| Q2 24 | $2.4B | $7.3B | ||
| Q1 24 | $2.7B | $6.9B |
总资产BLDFSLR
| Q4 25 | $6.6B | $13.3B | ||
| Q3 25 | $6.4B | $13.5B | ||
| Q2 25 | $5.1B | $12.9B | ||
| Q1 25 | $4.6B | $12.1B | ||
| Q4 24 | $4.7B | $12.1B | ||
| Q3 24 | $4.7B | $11.4B | ||
| Q2 24 | $4.9B | $11.0B | ||
| Q1 24 | $5.3B | $10.8B |
负债/权益比BLDFSLR
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.62× | — | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 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 | $176.7M | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $159.4M | $1.1B |
| 自由现金流率自由现金流/营收 | 10.7% | 63.6% |
| 资本支出强度资本支出/营收 | 1.2% | 10.2% |
| 现金转化率经营现金流/净利润 | 1.69× | 2.38× |
| 过去12个月自由现金流最近4个季度 | $696.9M | $1.2B |
8季度趋势，按日历期对齐
经营现金流BLDFSLR
| Q4 25 | $176.7M | $1.2B | ||
| Q3 25 | $233.3M | $1.3B | ||
| Q2 25 | $193.7M | $149.6M | ||
| Q1 25 | $152.6M | $-608.0M | ||
| Q4 24 | $266.2M | $811.0M | ||
| Q3 24 | $240.7M | $-53.7M | ||
| Q2 24 | $90.4M | $193.0M | ||
| Q1 24 | $178.8M | $267.7M |
自由现金流BLDFSLR
| Q4 25 | $159.4M | $1.1B | ||
| Q3 25 | $216.2M | $1.1B | ||
| Q2 25 | $182.2M | $-138.6M | ||
| Q1 25 | $139.2M | $-813.9M | ||
| Q4 24 | $253.7M | $497.5M | ||
| Q3 24 | $219.8M | $-487.7M | ||
| Q2 24 | $74.3M | $-172.1M | ||
| Q1 24 | $158.9M | $-145.7M |
自由现金流率BLDFSLR
| Q4 25 | 10.7% | 63.6% | ||
| Q3 25 | 15.5% | 67.1% | ||
| Q2 25 | 14.0% | -12.6% | ||
| Q1 25 | 11.3% | -96.4% | ||
| Q4 24 | 19.3% | 32.9% | ||
| Q3 24 | 16.0% | -54.9% | ||
| Q2 24 | 5.4% | -17.0% | ||
| Q1 24 | 12.4% | -18.4% |
资本支出强度BLDFSLR
| Q4 25 | 1.2% | 10.2% | ||
| Q3 25 | 1.2% | 12.8% | ||
| Q2 25 | 0.9% | 26.3% | ||
| Q1 25 | 1.1% | 24.4% | ||
| Q4 24 | 1.0% | 20.7% | ||
| Q3 24 | 1.5% | 48.9% | ||
| Q2 24 | 1.2% | 36.1% | ||
| Q1 24 | 1.6% | 52.1% |
现金转化率BLDFSLR
| Q4 25 | 1.69× | 2.38× | ||
| Q3 25 | 1.64× | 2.79× | ||
| Q2 25 | 1.28× | 0.44× | ||
| Q1 25 | 1.24× | -2.90× | ||
| Q4 24 | 1.77× | 2.06× | ||
| Q3 24 | 1.42× | -0.17× | ||
| Q2 24 | 0.60× | 0.55× | ||
| Q1 24 | 1.17× | 1.13× |
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
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
FSLR
暂无分部数据
