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礼蓝动物保健（ELAN）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礼蓝动物保健的1.5倍（$1.7B vs $1.1B），第一太阳能净利率更高（31.0% vs -24.1%，领先55.1%），礼蓝动物保健同比增速更快（12.2% vs 11.1%），第一太阳能自由现金流更多（$1.1B vs $46.0M），过去两年第一太阳能的营收复合增速更高（45.6% vs -2.6%）
礼蓝动物保健是一家美国动物保健制药企业，专注于生产宠物及家畜用药品与疫苗。该公司原为礼来公司旗下子公司，2019年完成分拆独立，目前是全球第三大动物保健企业。
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。
ELAN vs FSLR — 直观对比
营收规模更大
FSLR
是对方的1.5倍
$1.1B
营收增速更快
ELAN
高出1.0%
11.1%
净利率更高
FSLR
高出55.1%
-24.1%
自由现金流更多
FSLR
多$1.0B
$46.0M
两年增速更快
FSLR
近两年复合增速
-2.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.7B |
| 净利润 | $-276.0M | $520.9M |
| 毛利率 | 51.5% | 39.5% |
| 营业利润率 | -22.6% | 32.6% |
| 净利率 | -24.1% | 31.0% |
| 营收同比 | 12.2% | 11.1% |
| 净利润同比 | -3350.0% | 32.5% |
| 每股收益（稀释后） | $-0.55 | $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ELANFSLR
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.2B | $844.6M | ||
| Q4 24 | $1.0B | $1.5B | ||
| Q3 24 | $1.0B | $887.7M | ||
| Q2 24 | $1.2B | $1.0B | ||
| Q1 24 | $1.2B | $794.1M |
净利润ELANFSLR
| Q4 25 | $-276.0M | $520.9M | ||
| Q3 25 | $-34.0M | $455.9M | ||
| Q2 25 | $11.0M | $341.9M | ||
| Q1 25 | $67.0M | $209.5M | ||
| Q4 24 | $-8.0M | $393.1M | ||
| Q3 24 | $364.0M | $313.0M | ||
| Q2 24 | $-50.0M | $349.4M | ||
| Q1 24 | $32.0M | $236.6M |
毛利率ELANFSLR
| Q4 25 | 51.5% | 39.5% | ||
| Q3 25 | 53.4% | 38.3% | ||
| Q2 25 | 57.5% | 45.6% | ||
| Q1 25 | 57.3% | 40.8% | ||
| Q4 24 | 50.9% | 37.5% | ||
| Q3 24 | 52.2% | 50.2% | ||
| Q2 24 | 58.2% | 49.4% | ||
| Q1 24 | 57.3% | 43.6% |
营业利润率ELANFSLR
| Q4 25 | -22.6% | 32.6% | ||
| Q3 25 | -4.4% | 29.2% | ||
| Q2 25 | 2.0% | 33.0% | ||
| Q1 25 | 5.0% | 26.2% | ||
| Q4 24 | -5.0% | 30.2% | ||
| Q3 24 | 54.3% | 36.3% | ||
| Q2 24 | -2.7% | 36.9% | ||
| Q1 24 | 1.0% | 30.6% |
净利率ELANFSLR
| Q4 25 | -24.1% | 31.0% | ||
| Q3 25 | -3.0% | 28.6% | ||
| Q2 25 | 0.9% | 31.2% | ||
| Q1 25 | 5.6% | 24.8% | ||
| Q4 24 | -0.8% | 26.0% | ||
| Q3 24 | 35.3% | 35.3% | ||
| Q2 24 | -4.2% | 34.6% | ||
| Q1 24 | 2.7% | 29.8% |
每股收益（稀释后）ELANFSLR
| Q4 25 | $-0.55 | $4.84 | ||
| Q3 25 | $-0.07 | $4.24 | ||
| Q2 25 | $0.02 | $3.18 | ||
| Q1 25 | $0.13 | $1.95 | ||
| Q4 24 | $-0.01 | $3.66 | ||
| Q3 24 | $0.73 | $2.91 | ||
| Q2 24 | $-0.10 | $3.25 | ||
| Q1 24 | $0.06 | $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 | $545.0M | $2.8B |
| 总债务越低越好 | $3.9B | — |
| 股东权益账面价值 | $6.5B | $9.5B |
| 总资产 | $13.4B | $13.3B |
| 负债/权益比越低杠杆越低 | 0.60× | — |
8季度趋势，按日历期对齐
现金及短期投资ELANFSLR
| Q4 25 | $545.0M | $2.8B | ||
| Q3 25 | $505.0M | $2.0B | ||
| Q2 25 | $539.0M | $1.1B | ||
| Q1 25 | $487.0M | $837.6M | ||
| Q4 24 | $468.0M | $1.6B | ||
| Q3 24 | $490.0M | $1.0B | ||
| Q2 24 | $416.0M | $1.7B | ||
| Q1 24 | $345.0M | $1.7B |
总债务ELANFSLR
| Q4 25 | $3.9B | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.4B | — | ||
| Q2 24 | $5.7B | — | ||
| Q1 24 | $5.8B | — |
股东权益ELANFSLR
| Q4 25 | $6.5B | $9.5B | ||
| Q3 25 | $6.7B | $9.0B | ||
| Q2 25 | $6.8B | $8.5B | ||
| Q1 25 | $6.4B | $8.2B | ||
| Q4 24 | $6.1B | $8.0B | ||
| Q3 24 | $6.5B | $7.6B | ||
| Q2 24 | $5.9B | $7.3B | ||
| Q1 24 | $6.1B | $6.9B |
总资产ELANFSLR
| Q4 25 | $13.4B | $13.3B | ||
| Q3 25 | $13.6B | $13.5B | ||
| Q2 25 | $13.7B | $12.9B | ||
| Q1 25 | $12.9B | $12.1B | ||
| Q4 24 | $12.6B | $12.1B | ||
| Q3 24 | $13.3B | $11.4B | ||
| Q2 24 | $13.8B | $11.0B | ||
| Q1 24 | $14.0B | $10.8B |
负债/权益比ELANFSLR
| Q4 25 | 0.60× | — | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 0.95× | — |
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 | $108.0M | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $46.0M | $1.1B |
| 自由现金流率自由现金流/营收 | 4.0% | 63.6% |
| 资本支出强度资本支出/营收 | 5.4% | 10.2% |
| 现金转化率经营现金流/净利润 | — | 2.38× |
| 过去12个月自由现金流最近4个季度 | $284.0M | $1.2B |
8季度趋势，按日历期对齐
经营现金流ELANFSLR
| Q4 25 | $108.0M | $1.2B | ||
| Q3 25 | $219.0M | $1.3B | ||
| Q2 25 | $237.0M | $149.6M | ||
| Q1 25 | $-4.0M | $-608.0M | ||
| Q4 24 | $177.0M | $811.0M | ||
| Q3 24 | $162.0M | $-53.7M | ||
| Q2 24 | $200.0M | $193.0M | ||
| Q1 24 | $2.0M | $267.7M |
自由现金流ELANFSLR
| Q4 25 | $46.0M | $1.1B | ||
| Q3 25 | $127.0M | $1.1B | ||
| Q2 25 | $180.0M | $-138.6M | ||
| Q1 25 | $-69.0M | $-813.9M | ||
| Q4 24 | $130.0M | $497.5M | ||
| Q3 24 | $120.0M | $-487.7M | ||
| Q2 24 | $166.0M | $-172.1M | ||
| Q1 24 | $-22.0M | $-145.7M |
自由现金流率ELANFSLR
| Q4 25 | 4.0% | 63.6% | ||
| Q3 25 | 11.2% | 67.1% | ||
| Q2 25 | 14.5% | -12.6% | ||
| Q1 25 | -5.8% | -96.4% | ||
| Q4 24 | 12.7% | 32.9% | ||
| Q3 24 | 11.7% | -54.9% | ||
| Q2 24 | 14.0% | -17.0% | ||
| Q1 24 | -1.8% | -18.4% |
资本支出强度ELANFSLR
| Q4 25 | 5.4% | 10.2% | ||
| Q3 25 | 8.1% | 12.8% | ||
| Q2 25 | 4.6% | 26.3% | ||
| Q1 25 | 5.4% | 24.4% | ||
| Q4 24 | 4.6% | 20.7% | ||
| Q3 24 | 4.1% | 48.9% | ||
| Q2 24 | 2.9% | 36.1% | ||
| Q1 24 | 2.0% | 52.1% |
现金转化率ELANFSLR
| Q4 25 | — | 2.38× | ||
| Q3 25 | — | 2.79× | ||
| Q2 25 | 21.55× | 0.44× | ||
| Q1 25 | -0.06× | -2.90× | ||
| Q4 24 | — | 2.06× | ||
| Q3 24 | 0.45× | -0.17× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | 0.06× | 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
ELAN
| Pet Health | $489.0M | 43% |
| Cattle | $296.0M | 26% |
| Poultry | $237.0M | 21% |
| Swine | $107.0M | 9% |
| Contract Manufacturing | $15.0M | 1% |
FSLR
暂无分部数据
