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Equinix（EQIX）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
Equinix的季度营收约是第一太阳能的1.4倍（$2.4B vs $1.7B），第一太阳能净利率更高（31.0% vs 11.0%，领先20.0%），第一太阳能同比增速更快（11.1% vs 8.8%），过去两年第一太阳能的营收复合增速更高（45.6% vs 5.9%）
Equinix是总部位于美国加利福尼亚州雷德伍德城的跨国企业，主营互联网连接服务与数据中心托管业务，旗下数据中心此前常被业内称为“运营商酒店”，2015年1月公司正式转型为房地产投资信托基金（REIT）。
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。
EQIX vs FSLR — 直观对比
营收规模更大
EQIX
是对方的1.4倍
$1.7B
营收增速更快
FSLR
高出2.4%
8.8%
净利率更高
FSLR
高出20.0%
11.0%
两年增速更快
FSLR
近两年复合增速
5.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $1.7B |
| 净利润 | $265.0M | $520.9M |
| 毛利率 | 50.5% | 39.5% |
| 营业利润率 | 17.4% | 32.6% |
| 净利率 | 11.0% | 31.0% |
| 营收同比 | 8.8% | 11.1% |
| 净利润同比 | -22.7% | 32.5% |
| 每股收益（稀释后） | $2.70 | $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EQIXFSLR
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | $1.7B | ||
| Q3 25 | $2.3B | $1.6B | ||
| Q2 25 | $2.3B | $1.1B | ||
| Q1 25 | $2.2B | $844.6M | ||
| Q4 24 | $2.3B | $1.5B | ||
| Q3 24 | $2.2B | $887.7M | ||
| Q2 24 | $2.2B | $1.0B |
净利润EQIXFSLR
| Q1 26 | $265.0M | — | ||
| Q4 25 | $265.0M | $520.9M | ||
| Q3 25 | $374.0M | $455.9M | ||
| Q2 25 | $368.0M | $341.9M | ||
| Q1 25 | $343.0M | $209.5M | ||
| Q4 24 | $-14.0M | $393.1M | ||
| Q3 24 | $297.0M | $313.0M | ||
| Q2 24 | $301.0M | $349.4M |
毛利率EQIXFSLR
| Q1 26 | 50.5% | — | ||
| Q4 25 | 50.5% | 39.5% | ||
| Q3 25 | 50.7% | 38.3% | ||
| Q2 25 | 52.0% | 45.6% | ||
| Q1 25 | 51.3% | 40.8% | ||
| Q4 24 | 47.1% | 37.5% | ||
| Q3 24 | 50.1% | 50.2% | ||
| Q2 24 | 49.9% | 49.4% |
营业利润率EQIXFSLR
| Q1 26 | 17.4% | — | ||
| Q4 25 | 17.4% | 32.6% | ||
| Q3 25 | 20.5% | 29.2% | ||
| Q2 25 | 21.9% | 33.0% | ||
| Q1 25 | 20.6% | 26.2% | ||
| Q4 24 | 4.6% | 30.2% | ||
| Q3 24 | 19.3% | 36.3% | ||
| Q2 24 | 20.2% | 36.9% |
净利率EQIXFSLR
| Q1 26 | 11.0% | — | ||
| Q4 25 | 11.0% | 31.0% | ||
| Q3 25 | 16.1% | 28.6% | ||
| Q2 25 | 16.3% | 31.2% | ||
| Q1 25 | 15.4% | 24.8% | ||
| Q4 24 | -0.6% | 26.0% | ||
| Q3 24 | 13.5% | 35.3% | ||
| Q2 24 | 13.9% | 34.6% |
每股收益（稀释后）EQIXFSLR
| Q1 26 | $2.70 | — | ||
| Q4 25 | $2.70 | $4.84 | ||
| Q3 25 | $3.81 | $4.24 | ||
| Q2 25 | $3.75 | $3.18 | ||
| Q1 25 | $3.50 | $1.95 | ||
| Q4 24 | $-0.19 | $3.66 | ||
| Q3 24 | $3.10 | $2.91 | ||
| Q2 24 | $3.16 | $3.25 |
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 | $3.2B | $2.8B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $14.2B | $9.5B |
| 总资产 | $40.1B | $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EQIXFSLR
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $2.8B | ||
| Q3 25 | $2.9B | $2.0B | ||
| Q2 25 | $4.5B | $1.1B | ||
| Q1 25 | $3.7B | $837.6M | ||
| Q4 24 | $3.6B | $1.6B | ||
| Q3 24 | $3.2B | $1.0B | ||
| Q2 24 | $2.0B | $1.7B |
总债务EQIXFSLR
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $17.3B | — | ||
| Q2 25 | $18.1B | — | ||
| Q1 25 | $15.9B | — | ||
| Q4 24 | $15.3B | — | ||
| Q3 24 | $15.4B | — | ||
| Q2 24 | $14.5B | — |
股东权益EQIXFSLR
| Q1 26 | $14.2B | — | ||
| Q4 25 | $14.2B | $9.5B | ||
| Q3 25 | $14.2B | $9.0B | ||
| Q2 25 | $14.1B | $8.5B | ||
| Q1 25 | $13.9B | $8.2B | ||
| Q4 24 | $13.5B | $8.0B | ||
| Q3 24 | $13.6B | $7.6B | ||
| Q2 24 | $12.3B | $7.3B |
总资产EQIXFSLR
| Q1 26 | $40.1B | — | ||
| Q4 25 | $40.1B | $13.3B | ||
| Q3 25 | $38.1B | $13.5B | ||
| Q2 25 | $38.8B | $12.9B | ||
| Q1 25 | $36.1B | $12.1B | ||
| Q4 24 | $35.1B | $12.1B | ||
| Q3 24 | $35.4B | $11.4B | ||
| Q2 24 | $32.9B | $11.0B |
负债/权益比EQIXFSLR
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.22× | — | ||
| Q2 25 | 1.28× | — | ||
| Q1 25 | 1.14× | — | ||
| Q4 24 | 1.13× | — | ||
| Q3 24 | 1.13× | — | ||
| Q2 24 | 1.18× | — |
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 | — | $1.2B |
| 自由现金流经营现金流 - 资本支出 | — | $1.1B |
| 自由现金流率自由现金流/营收 | — | 63.6% |
| 资本支出强度资本支出/营收 | — | 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 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流EQIXFSLR
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.0B | $1.3B | ||
| Q2 25 | $944.0M | $149.6M | ||
| Q1 25 | $809.0M | $-608.0M | ||
| Q4 24 | $981.0M | $811.0M | ||
| Q3 24 | $758.0M | $-53.7M | ||
| Q2 24 | $912.0M | $193.0M |
自由现金流EQIXFSLR
| Q1 26 | — | — | ||
| Q4 25 | $-292.0M | $1.1B | ||
| Q3 25 | $-122.0M | $1.1B | ||
| Q2 25 | $-45.0M | $-138.6M | ||
| Q1 25 | $59.0M | $-813.9M | ||
| Q4 24 | $-6.0M | $497.5M | ||
| Q3 24 | $34.0M | $-487.7M | ||
| Q2 24 | $264.0M | $-172.1M |
自由现金流率EQIXFSLR
| Q1 26 | — | — | ||
| Q4 25 | -12.1% | 63.6% | ||
| Q3 25 | -5.3% | 67.1% | ||
| Q2 25 | -2.0% | -12.6% | ||
| Q1 25 | 2.7% | -96.4% | ||
| Q4 24 | -0.3% | 32.9% | ||
| Q3 24 | 1.5% | -54.9% | ||
| Q2 24 | 12.2% | -17.0% |
资本支出强度EQIXFSLR
| Q1 26 | — | — | ||
| Q4 25 | 59.3% | 10.2% | ||
| Q3 25 | 49.1% | 12.8% | ||
| Q2 25 | 43.8% | 26.3% | ||
| Q1 25 | 33.7% | 24.4% | ||
| Q4 24 | 43.7% | 20.7% | ||
| Q3 24 | 32.9% | 48.9% | ||
| Q2 24 | 30.0% | 36.1% |
现金转化率EQIXFSLR
| Q1 26 | — | — | ||
| Q4 25 | 4.32× | 2.38× | ||
| Q3 25 | 2.71× | 2.79× | ||
| Q2 25 | 2.57× | 0.44× | ||
| Q1 25 | 2.36× | -2.90× | ||
| Q4 24 | — | 2.06× | ||
| Q3 24 | 2.55× | -0.17× | ||
| Q2 24 | 3.03× | 0.55× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
