vs
Entergy（ETR）与飞塔（FTNT）财务数据对比。点击上方公司名可切换其他公司
Entergy的季度营收约是飞塔的1.6倍（$3.0B vs $1.9B），飞塔净利率更高（26.6% vs 8.1%，领先18.4%），飞塔同比增速更快（14.8% vs 7.9%），飞塔自由现金流更多（$577.4M vs $-909.7M），过去两年飞塔的营收复合增速更高（18.6% vs 2.9%）
Entergy是美国能源企业，主营电力生产及零售配送业务，服务覆盖美国南部腹地，总部设于路易斯安那州新奥尔良。公司为阿肯色、路易斯安那、密西西比、得克萨斯四州共300万用户供电，发电装机容量约24000兆瓦，年营收110亿美元，员工规模超12000人。
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。
ETR vs FTNT — 直观对比
营收规模更大
ETR
是对方的1.6倍
$1.9B
营收增速更快
FTNT
高出6.9%
7.9%
净利率更高
FTNT
高出18.4%
8.1%
自由现金流更多
FTNT
多$1.5B
$-909.7M
两年增速更快
FTNT
近两年复合增速
2.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.0B | $1.9B |
| 净利润 | $240.5M | $506.0M |
| 毛利率 | — | 79.6% |
| 营业利润率 | 18.4% | 32.8% |
| 净利率 | 8.1% | 26.6% |
| 营收同比 | 7.9% | 14.8% |
| 净利润同比 | -16.2% | -3.8% |
| 每股收益（稀释后） | $0.51 | $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ETRFTNT
| Q4 25 | $3.0B | $1.9B | ||
| Q3 25 | $3.8B | $1.7B | ||
| Q2 25 | $3.3B | $1.6B | ||
| Q1 25 | $2.8B | $1.5B | ||
| Q4 24 | $2.7B | $1.7B | ||
| Q3 24 | $3.4B | $1.5B | ||
| Q2 24 | $3.0B | $1.4B | ||
| Q1 24 | $2.8B | $1.4B |
净利润ETRFTNT
| Q4 25 | $240.5M | $506.0M | ||
| Q3 25 | $698.4M | $473.9M | ||
| Q2 25 | $472.0M | $440.1M | ||
| Q1 25 | $362.4M | $433.4M | ||
| Q4 24 | $287.2M | $526.2M | ||
| Q3 24 | $645.8M | $539.9M | ||
| Q2 24 | $51.7M | $379.8M | ||
| Q1 24 | $76.5M | $299.3M |
毛利率ETRFTNT
| 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% | ||
| Q1 24 | — | 77.5% |
营业利润率ETRFTNT
| Q4 25 | 18.4% | 32.8% | ||
| Q3 25 | 29.4% | 31.7% | ||
| Q2 25 | 25.2% | 28.1% | ||
| Q1 25 | 24.6% | 29.5% | ||
| Q4 24 | 24.4% | 34.6% | ||
| Q3 24 | 33.2% | 31.2% | ||
| Q2 24 | 20.9% | 30.5% | ||
| Q1 24 | 8.5% | 23.7% |
净利率ETRFTNT
| Q4 25 | 8.1% | 26.6% | ||
| Q3 25 | 18.3% | 27.5% | ||
| Q2 25 | 14.2% | 27.0% | ||
| Q1 25 | 12.7% | 28.1% | ||
| Q4 24 | 10.5% | 31.7% | ||
| Q3 24 | 19.1% | 35.8% | ||
| Q2 24 | 1.8% | 26.5% | ||
| Q1 24 | 2.7% | 22.1% |
每股收益（稀释后）ETRFTNT
| Q4 25 | $0.51 | $0.67 | ||
| Q3 25 | $1.53 | $0.62 | ||
| Q2 25 | $1.05 | $0.57 | ||
| Q1 25 | $0.82 | $0.56 | ||
| Q4 24 | $0.66 | $0.68 | ||
| Q3 24 | $1.50 | $0.70 | ||
| Q2 24 | $0.11 | $0.49 | ||
| Q1 24 | $0.18 | $0.39 |
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 | $1.9B | $2.5B |
| 总债务越低越好 | $30.3B | — |
| 股东权益账面价值 | $16.9B | $1.2B |
| 总资产 | $71.9B | $10.4B |
| 负债/权益比越低杠杆越低 | 1.79× | — |
8季度趋势，按日历期对齐
现金及短期投资ETRFTNT
| Q4 25 | $1.9B | $2.5B | ||
| Q3 25 | $1.5B | $2.0B | ||
| Q2 25 | $1.2B | $3.4B | ||
| Q1 25 | $1.5B | $3.6B | ||
| Q4 24 | $859.7M | $2.9B | ||
| Q3 24 | $1.4B | $2.5B | ||
| Q2 24 | $1.4B | $2.2B | ||
| Q1 24 | $1.3B | $1.9B |
总债务ETRFTNT
| Q4 25 | $30.3B | — | ||
| Q3 25 | $29.0B | — | ||
| Q2 25 | $29.9B | — | ||
| Q1 25 | $29.6B | — | ||
| Q4 24 | $28.0B | — | ||
| Q3 24 | $27.9B | — | ||
| Q2 24 | $27.8B | — | ||
| Q1 24 | $26.5B | — |
股东权益ETRFTNT
| Q4 25 | $16.9B | $1.2B | ||
| Q3 25 | $16.7B | $735.1M | ||
| Q2 25 | $16.2B | $2.1B | ||
| Q1 25 | $15.2B | $2.0B | ||
| Q4 24 | $15.1B | $1.5B | ||
| Q3 24 | $15.0B | $908.1M | ||
| Q2 24 | $14.6B | $288.2M | ||
| Q1 24 | $14.5B | $-137.5M |
总资产ETRFTNT
| Q4 25 | $71.9B | $10.4B | ||
| Q3 25 | $69.8B | $9.4B | ||
| Q2 25 | $68.4B | $10.6B | ||
| Q1 25 | $66.6B | $10.4B | ||
| Q4 24 | $64.8B | $9.8B | ||
| Q3 24 | $64.5B | $8.9B | ||
| Q2 24 | $62.8B | $8.1B | ||
| Q1 24 | $61.6B | $7.7B |
负债/权益比ETRFTNT
| Q4 25 | 1.79× | — | ||
| Q3 25 | 1.74× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.95× | — | ||
| Q4 24 | 1.86× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.91× | — | ||
| Q1 24 | 1.83× | — |
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 | $620.2M |
| 自由现金流经营现金流 - 资本支出 | $-909.7M | $577.4M |
| 自由现金流率自由现金流/营收 | -30.7% | 30.3% |
| 资本支出强度资本支出/营收 | 71.9% | 2.2% |
| 现金转化率经营现金流/净利润 | 5.06× | 1.23× |
| 过去12个月自由现金流最近4个季度 | $-2.5B | $2.2B |
8季度趋势，按日历期对齐
经营现金流ETRFTNT
| Q4 25 | $1.2B | $620.2M | ||
| Q3 25 | $2.1B | $655.2M | ||
| Q2 25 | $1.3B | $451.9M | ||
| Q1 25 | $536.2M | $863.3M | ||
| Q4 24 | $1.4B | $477.6M | ||
| Q3 24 | $1.6B | $608.1M | ||
| Q2 24 | $1.0B | $342.0M | ||
| Q1 24 | $521.1M | $830.4M |
自由现金流ETRFTNT
| Q4 25 | $-909.7M | $577.4M | ||
| Q3 25 | $246.0M | $567.5M | ||
| Q2 25 | $-746.6M | $284.1M | ||
| Q1 25 | $-1.1B | $796.8M | ||
| Q4 24 | $-193.8M | $380.0M | ||
| Q3 24 | $421.8M | $571.8M | ||
| Q2 24 | $-137.8M | $318.9M | ||
| Q1 24 | $-440.1M | $608.5M |
自由现金流率ETRFTNT
| Q4 25 | -30.7% | 30.3% | ||
| Q3 25 | 6.5% | 32.9% | ||
| Q2 25 | -22.4% | 17.4% | ||
| Q1 25 | -39.5% | 51.8% | ||
| Q4 24 | -7.1% | 22.9% | ||
| Q3 24 | 12.4% | 37.9% | ||
| Q2 24 | -4.7% | 22.2% | ||
| Q1 24 | -15.7% | 45.0% |
资本支出强度ETRFTNT
| Q4 25 | 71.9% | 2.2% | ||
| Q3 25 | 49.5% | 5.1% | ||
| Q2 25 | 60.3% | 10.3% | ||
| Q1 25 | 58.3% | 4.3% | ||
| Q4 24 | 57.4% | 5.9% | ||
| Q3 24 | 33.7% | 2.4% | ||
| Q2 24 | 39.4% | 1.6% | ||
| Q1 24 | 34.4% | 16.4% |
现金转化率ETRFTNT
| Q4 25 | 5.06× | 1.23× | ||
| Q3 25 | 3.06× | 1.38× | ||
| Q2 25 | 2.67× | 1.03× | ||
| Q1 25 | 1.48× | 1.99× | ||
| Q4 24 | 4.80× | 0.91× | ||
| Q3 24 | 2.42× | 1.13× | ||
| Q2 24 | 19.82× | 0.90× | ||
| Q1 24 | 6.81× | 2.77× |
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
ETR
| Electricity Us Regulated | $2.9B | 100% |
| Other | $13.7M | 0% |
FTNT
| Services | $1.2B | 64% |
| Security Subscription | $693.7M | 36% |
