vs
Erie Indemnity（ERIE）与飞塔（FTNT）财务数据对比。点击上方公司名可切换其他公司
飞塔的季度营收约是Erie Indemnity的1.9倍（$1.9B vs $1.0B），飞塔净利率更高（26.6% vs 14.9%，领先11.7%），飞塔同比增速更快（14.8% vs 2.3%），过去两年飞塔的营收复合增速更高（18.6% vs 1.1%）
总部位于美国宾夕法尼亚州伊利市的伊利保险集团是财产及意外伤害保险提供商，通过独立保险代理人网络销售车险、家财险、商业保险及人寿保险产品。2021年，该集团以2020财年总营收跻身当年美国财富500强榜单第347位。
飞塔（Fortinet）是总部位于美国加利福尼亚州森尼韦尔的网络安全企业，专注于研发与销售防火墙、终端安全、入侵检测系统等各类网络安全产品，目前在美国、加拿大、英国等多个国家设有办事机构。
ERIE vs FTNT — 直观对比
营收规模更大
FTNT
是对方的1.9倍
$1.0B
营收增速更快
FTNT
高出12.5%
2.3%
净利率更高
FTNT
高出11.7%
14.9%
两年增速更快
FTNT
近两年复合增速
1.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.9B |
| 净利润 | $150.5M | $506.0M |
| 毛利率 | — | 79.6% |
| 营业利润率 | 16.5% | 32.8% |
| 净利率 | 14.9% | 26.6% |
| 营收同比 | 2.3% | 14.8% |
| 净利润同比 | 8.7% | -3.8% |
| 每股收益（稀释后） | — | $0.67 |
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ERIEFTNT
| Q1 26 | $1.0B | — | ||
| Q4 25 | $951.0M | $1.9B | ||
| Q3 25 | $1.1B | $1.7B | ||
| Q2 25 | $1.1B | $1.6B | ||
| Q1 25 | $989.4M | $1.5B | ||
| Q4 24 | $924.1M | $1.7B | ||
| Q3 24 | $999.9M | $1.5B | ||
| Q2 24 | $990.4M | $1.4B |
净利润ERIEFTNT
| Q1 26 | $150.5M | — | ||
| Q4 25 | $63.4M | $506.0M | ||
| Q3 25 | $182.9M | $473.9M | ||
| Q2 25 | $174.7M | $440.1M | ||
| Q1 25 | $138.4M | $433.4M | ||
| Q4 24 | $152.0M | $526.2M | ||
| Q3 24 | $159.8M | $539.9M | ||
| Q2 24 | $163.9M | $379.8M |
毛利率ERIEFTNT
| Q1 26 | — | — | ||
| Q4 25 | — | 79.6% | ||
| Q3 25 | — | 80.8% | ||
| Q2 25 | — | 80.7% | ||
| Q1 25 | — | 81.0% | ||
| Q4 24 | — | 81.1% | ||
| Q3 24 | — | 82.5% | ||
| Q2 24 | — | 80.8% |
营业利润率ERIEFTNT
| Q1 26 | 16.5% | — | ||
| Q4 25 | 16.6% | 32.8% | ||
| Q3 25 | 19.6% | 31.7% | ||
| Q2 25 | 18.8% | 28.1% | ||
| Q1 25 | 15.3% | 29.5% | ||
| Q4 24 | 18.1% | 34.6% | ||
| Q3 24 | 18.0% | 31.2% | ||
| Q2 24 | 19.2% | 30.5% |
净利率ERIEFTNT
| Q1 26 | 14.9% | — | ||
| Q4 25 | 6.7% | 26.6% | ||
| Q3 25 | 17.1% | 27.5% | ||
| Q2 25 | 16.5% | 27.0% | ||
| Q1 25 | 14.0% | 28.1% | ||
| Q4 24 | 16.5% | 31.7% | ||
| Q3 24 | 16.0% | 35.8% | ||
| Q2 24 | 16.5% | 26.5% |
每股收益（稀释后）ERIEFTNT
| Q1 26 | — | — | ||
| Q4 25 | — | $0.67 | ||
| Q3 25 | — | $0.62 | ||
| Q2 25 | — | $0.57 | ||
| Q1 25 | — | $0.56 | ||
| Q4 24 | — | $0.68 | ||
| Q3 24 | — | $0.70 | ||
| Q2 24 | — | $0.49 |
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 | — | $2.5B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.4B | $1.2B |
| 总资产 | $3.4B | $10.4B |
| 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ERIEFTNT
| Q1 26 | — | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $3.4B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.2B |
股东权益ERIEFTNT
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.3B | $1.2B | ||
| Q3 25 | $2.3B | $735.1M | ||
| Q2 25 | $2.2B | $2.1B | ||
| Q1 25 | $2.1B | $2.0B | ||
| Q4 24 | $2.0B | $1.5B | ||
| Q3 24 | $1.9B | $908.1M | ||
| Q2 24 | $1.8B | $288.2M |
总资产ERIEFTNT
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.4B | $10.4B | ||
| Q3 25 | $3.3B | $9.4B | ||
| Q2 25 | $3.1B | $10.6B | ||
| Q1 25 | $3.0B | $10.4B | ||
| Q4 24 | $2.9B | $9.8B | ||
| Q3 24 | $2.9B | $8.9B | ||
| Q2 24 | $2.7B | $8.1B |
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 | — | $620.2M |
| 自由现金流经营现金流 - 资本支出 | — | $577.4M |
| 自由现金流率自由现金流/营收 | — | 30.3% |
| 资本支出强度资本支出/营收 | — | 2.2% |
| 现金转化率经营现金流/净利润 | — | 1.23× |
| 过去12个月自由现金流最近4个季度 | — | $2.2B |
8季度趋势，按日历期对齐
经营现金流ERIEFTNT
| Q1 26 | — | — | ||
| Q4 25 | $171.6M | $620.2M | ||
| Q3 25 | $219.4M | $655.2M | ||
| Q2 25 | $177.6M | $451.9M | ||
| Q1 25 | $118.1M | $863.3M | ||
| Q4 24 | $193.5M | $477.6M | ||
| Q3 24 | $199.2M | $608.1M | ||
| Q2 24 | $131.4M | $342.0M |
自由现金流ERIEFTNT
| Q1 26 | — | — | ||
| Q4 25 | $140.8M | $577.4M | ||
| Q3 25 | $184.4M | $567.5M | ||
| Q2 25 | $157.3M | $284.1M | ||
| Q1 25 | $88.4M | $796.8M | ||
| Q4 24 | $146.8M | $380.0M | ||
| Q3 24 | $171.5M | $571.8M | ||
| Q2 24 | $103.4M | $318.9M |
自由现金流率ERIEFTNT
| Q1 26 | — | — | ||
| Q4 25 | 14.8% | 30.3% | ||
| Q3 25 | 17.3% | 32.9% | ||
| Q2 25 | 14.8% | 17.4% | ||
| Q1 25 | 8.9% | 51.8% | ||
| Q4 24 | 15.9% | 22.9% | ||
| Q3 24 | 17.1% | 37.9% | ||
| Q2 24 | 10.4% | 22.2% |
资本支出强度ERIEFTNT
| Q1 26 | — | — | ||
| Q4 25 | 3.2% | 2.2% | ||
| Q3 25 | 3.3% | 5.1% | ||
| Q2 25 | 1.9% | 10.3% | ||
| Q1 25 | 3.0% | 4.3% | ||
| Q4 24 | 5.0% | 5.9% | ||
| Q3 24 | 2.8% | 2.4% | ||
| Q2 24 | 2.8% | 1.6% |
现金转化率ERIEFTNT
| Q1 26 | — | — | ||
| Q4 25 | 2.71× | 1.23× | ||
| Q3 25 | 1.20× | 1.38× | ||
| Q2 25 | 1.02× | 1.03× | ||
| Q1 25 | 0.85× | 1.99× | ||
| Q4 24 | 1.27× | 0.91× | ||
| Q3 24 | 1.25× | 1.13× | ||
| Q2 24 | 0.80× | 0.90× |
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
ERIE
| Management fee revenue - policy issuance and renewal services | $786.4M | 78% |
| Administrative services reimbursement revenue | $200.1M | 20% |
| Management fee revenue - administrative services | $19.5M | 2% |
| Service agreement revenue | $5.9M | 1% |
FTNT
| Services | $1.2B | 64% |
| Security Subscription | $693.7M | 36% |
