vs
CrossAmerica Partners LP（CAPL）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CrossAmerica Partners LP的1.9倍（$1.7B vs $866.3M），第一太阳能净利率更高（31.0% vs 1.2%，领先29.8%），第一太阳能同比增速更快（11.1% vs -8.3%），第一太阳能自由现金流更多（$1.1B vs $22.4M），过去两年第一太阳能的营收复合增速更高（45.6% vs -4.1%）
塔峰资本合伙人（TowerBrook Capital Partners）是一家总部位于伦敦和纽约的投资管理公司，2005年从索罗斯基金管理分拆独立。该机构主打私募股权及结构性机会投资，曾收购奢侈品品牌Jimmy Choo控股权，截至2025年其管理规模超250亿美元，官网公示在管投资项目共110个。
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。
CAPL vs FSLR — 直观对比
营收规模更大
FSLR
是对方的1.9倍
$866.3M
营收增速更快
FSLR
高出19.4%
-8.3%
净利率更高
FSLR
高出29.8%
1.2%
自由现金流更多
FSLR
多$1.0B
$22.4M
两年增速更快
FSLR
近两年复合增速
-4.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $866.3M | $1.7B |
| 净利润 | $10.2M | $520.9M |
| 毛利率 | 12.4% | 39.5% |
| 营业利润率 | 3.0% | 32.6% |
| 净利率 | 1.2% | 31.0% |
| 营收同比 | -8.3% | 11.1% |
| 净利润同比 | -39.6% | 32.5% |
| 每股收益（稀释后） | $0.24 | $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CAPLFSLR
| Q4 25 | $866.3M | $1.7B | ||
| Q3 25 | $971.8M | $1.6B | ||
| Q2 25 | $961.9M | $1.1B | ||
| Q1 25 | $862.5M | $844.6M | ||
| Q4 24 | $944.2M | $1.5B | ||
| Q3 24 | $1.1B | $887.7M | ||
| Q2 24 | $1.1B | $1.0B | ||
| Q1 24 | $941.5M | $794.1M |
净利润CAPLFSLR
| Q4 25 | $10.2M | $520.9M | ||
| Q3 25 | $13.6M | $455.9M | ||
| Q2 25 | $25.2M | $341.9M | ||
| Q1 25 | $-7.1M | $209.5M | ||
| Q4 24 | $16.9M | $393.1M | ||
| Q3 24 | $10.7M | $313.0M | ||
| Q2 24 | $12.4M | $349.4M | ||
| Q1 24 | $-17.5M | $236.6M |
毛利率CAPLFSLR
| Q4 25 | 12.4% | 39.5% | ||
| Q3 25 | 10.8% | 38.3% | ||
| Q2 25 | 10.5% | 45.6% | ||
| Q1 25 | 10.4% | 40.8% | ||
| Q4 24 | 10.7% | 37.5% | ||
| Q3 24 | 10.3% | 50.2% | ||
| Q2 24 | 9.2% | 49.4% | ||
| Q1 24 | 8.6% | 43.6% |
营业利润率CAPLFSLR
| Q4 25 | 3.0% | 32.6% | ||
| Q3 25 | 2.9% | 29.2% | ||
| Q2 25 | 4.3% | 33.0% | ||
| Q1 25 | 0.2% | 26.2% | ||
| Q4 24 | 3.0% | 30.2% | ||
| Q3 24 | 2.5% | 36.3% | ||
| Q2 24 | 2.5% | 36.9% | ||
| Q1 24 | -1.4% | 30.6% |
净利率CAPLFSLR
| Q4 25 | 1.2% | 31.0% | ||
| Q3 25 | 1.4% | 28.6% | ||
| Q2 25 | 2.6% | 31.2% | ||
| Q1 25 | -0.8% | 24.8% | ||
| Q4 24 | 1.8% | 26.0% | ||
| Q3 24 | 1.0% | 35.3% | ||
| Q2 24 | 1.1% | 34.6% | ||
| Q1 24 | -1.9% | 29.8% |
每股收益（稀释后）CAPLFSLR
| Q4 25 | $0.24 | $4.84 | ||
| Q3 25 | $0.34 | $4.24 | ||
| Q2 25 | $0.64 | $3.18 | ||
| Q1 25 | $-0.20 | $1.95 | ||
| Q4 24 | $0.42 | $3.66 | ||
| Q3 24 | $0.27 | $2.91 | ||
| Q2 24 | $0.31 | $3.25 | ||
| Q1 24 | $-0.48 | $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 | $3.1M | $2.8B |
| 总债务越低越好 | $687.2M | — |
| 股东权益账面价值 | — | $9.5B |
| 总资产 | $964.7M | $13.3B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CAPLFSLR
| Q4 25 | $3.1M | $2.8B | ||
| Q3 25 | $5.8M | $2.0B | ||
| Q2 25 | $9.7M | $1.1B | ||
| Q1 25 | $6.7M | $837.6M | ||
| Q4 24 | $3.4M | $1.6B | ||
| Q3 24 | $7.8M | $1.0B | ||
| Q2 24 | $5.5M | $1.7B | ||
| Q1 24 | $6.3M | $1.7B |
总债务CAPLFSLR
| Q4 25 | $687.2M | — | ||
| Q3 25 | $700.8M | — | ||
| Q2 25 | $722.7M | — | ||
| Q1 25 | $774.1M | — | ||
| Q4 24 | $763.9M | — | ||
| Q3 24 | $769.2M | — | ||
| Q2 24 | $786.7M | — | ||
| Q1 24 | $795.8M | — |
股东权益CAPLFSLR
| Q4 25 | — | $9.5B | ||
| Q3 25 | — | $9.0B | ||
| Q2 25 | — | $8.5B | ||
| Q1 25 | — | $8.2B | ||
| Q4 24 | — | $8.0B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.3B | ||
| Q1 24 | — | $6.9B |
总资产CAPLFSLR
| Q4 25 | $964.7M | $13.3B | ||
| Q3 25 | $998.9M | $13.5B | ||
| Q2 25 | $1.0B | $12.9B | ||
| Q1 25 | $1.1B | $12.1B | ||
| Q4 24 | $1.1B | $12.1B | ||
| Q3 24 | $1.1B | $11.4B | ||
| Q2 24 | $1.2B | $11.0B | ||
| Q1 24 | $1.2B | $10.8B |
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 | $29.4M | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $22.4M | $1.1B |
| 自由现金流率自由现金流/营收 | 2.6% | 63.6% |
| 资本支出强度资本支出/营收 | 0.8% | 10.2% |
| 现金转化率经营现金流/净利润 | 2.89× | 2.38× |
| 过去12个月自由现金流最近4个季度 | $55.8M | $1.2B |
8季度趋势，按日历期对齐
经营现金流CAPLFSLR
| Q4 25 | $29.4M | $1.2B | ||
| Q3 25 | $24.4M | $1.3B | ||
| Q2 25 | $22.6M | $149.6M | ||
| Q1 25 | $15.0M | $-608.0M | ||
| Q4 24 | $11.1M | $811.0M | ||
| Q3 24 | $41.9M | $-53.7M | ||
| Q2 24 | $28.9M | $193.0M | ||
| Q1 24 | $5.8M | $267.7M |
自由现金流CAPLFSLR
| Q4 25 | $22.4M | $1.1B | ||
| Q3 25 | $17.7M | $1.1B | ||
| Q2 25 | $10.8M | $-138.6M | ||
| Q1 25 | $4.9M | $-813.9M | ||
| Q4 24 | $3.9M | $497.5M | ||
| Q3 24 | $34.2M | $-487.7M | ||
| Q2 24 | $23.6M | $-172.1M | ||
| Q1 24 | $-289.0K | $-145.7M |
自由现金流率CAPLFSLR
| Q4 25 | 2.6% | 63.6% | ||
| Q3 25 | 1.8% | 67.1% | ||
| Q2 25 | 1.1% | -12.6% | ||
| Q1 25 | 0.6% | -96.4% | ||
| Q4 24 | 0.4% | 32.9% | ||
| Q3 24 | 3.2% | -54.9% | ||
| Q2 24 | 2.1% | -17.0% | ||
| Q1 24 | -0.0% | -18.4% |
资本支出强度CAPLFSLR
| Q4 25 | 0.8% | 10.2% | ||
| Q3 25 | 0.7% | 12.8% | ||
| Q2 25 | 1.2% | 26.3% | ||
| Q1 25 | 1.2% | 24.4% | ||
| Q4 24 | 0.8% | 20.7% | ||
| Q3 24 | 0.7% | 48.9% | ||
| Q2 24 | 0.5% | 36.1% | ||
| Q1 24 | 0.6% | 52.1% |
现金转化率CAPLFSLR
| Q4 25 | 2.89× | 2.38× | ||
| Q3 25 | 1.79× | 2.79× | ||
| Q2 25 | 0.90× | 0.44× | ||
| Q1 25 | — | -2.90× | ||
| Q4 24 | 0.66× | 2.06× | ||
| Q3 24 | 3.92× | -0.17× | ||
| Q2 24 | 2.33× | 0.55× | ||
| Q1 24 | — | 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
CAPL
| Retail Segment | $505.3M | 58% |
| Wholesale | $360.9M | 42% |
| Other | $1.2M | 0% |
FSLR
暂无分部数据
