vs
Fastenal（FAST）与希悦尔（SEE）财务数据对比。点击上方公司名可切换其他公司
Fastenal的季度营收约是希悦尔的1.5倍（$2.0B vs $1.4B），Fastenal净利率更高（14.5% vs 3.1%，领先11.4%），Fastenal同比增速更快（3.5% vs 2.6%），Fastenal自由现金流更多（$308.2M vs $257.7M），过去两年Fastenal的营收复合增速更高（2.9% vs 2.7%）
Fastenal是1967年成立的美国上市企业，总部位于明尼苏达州威诺纳，是北美最大的紧固件分销商，同时也是工业和建筑用品的主流供应商，可提供货柜备货、智能售货柜、库存管理、物流配送等一站式供应链解决方案。
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
FAST vs SEE — 直观对比
营收规模更大
FAST
是对方的1.5倍
$1.4B
营收增速更快
FAST
高出0.9%
2.6%
净利率更高
FAST
高出11.4%
3.1%
自由现金流更多
FAST
多$50.5M
$257.7M
两年增速更快
FAST
近两年复合增速
2.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.4B |
| 净利润 | $293.9M | $43.8M |
| 毛利率 | 44.3% | 28.6% |
| 营业利润率 | 18.9% | 11.4% |
| 净利率 | 14.5% | 3.1% |
| 营收同比 | 3.5% | 2.6% |
| 净利润同比 | -1.6% | 700.0% |
| 每股收益（稀释后） | $-0.01 | $0.30 |
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FASTSEE
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $1.4B | ||
| Q3 25 | $2.1B | $1.3B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $2.0B | $1.3B | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $1.9B | $1.3B | ||
| Q2 24 | $1.9B | $1.3B |
净利润FASTSEE
| Q1 26 | $293.9M | — | ||
| Q4 25 | $293.9M | $43.8M | ||
| Q3 25 | $335.5M | $255.1M | ||
| Q2 25 | $330.3M | $93.1M | ||
| Q1 25 | $298.7M | $113.5M | ||
| Q4 24 | $262.1M | $-7.3M | ||
| Q3 24 | $298.1M | $91.7M | ||
| Q2 24 | $292.7M | $98.3M |
毛利率FASTSEE
| Q1 26 | 44.3% | — | ||
| Q4 25 | 44.3% | 28.6% | ||
| Q3 25 | 45.3% | 29.8% | ||
| Q2 25 | 45.3% | 30.7% | ||
| Q1 25 | 45.1% | 30.9% | ||
| Q4 24 | 44.8% | 30.0% | ||
| Q3 24 | 44.9% | 30.1% | ||
| Q2 24 | 45.1% | 31.2% |
营业利润率FASTSEE
| Q1 26 | 18.9% | — | ||
| Q4 25 | 18.9% | 11.4% | ||
| Q3 25 | 20.7% | 13.8% | ||
| Q2 25 | 21.0% | 15.0% | ||
| Q1 25 | 20.1% | 14.5% | ||
| Q4 24 | 18.9% | 11.7% | ||
| Q3 24 | 20.3% | 13.9% | ||
| Q2 24 | 20.2% | 15.4% |
净利率FASTSEE
| Q1 26 | 14.5% | — | ||
| Q4 25 | 14.5% | 3.1% | ||
| Q3 25 | 15.7% | 19.0% | ||
| Q2 25 | 15.9% | 7.0% | ||
| Q1 25 | 15.2% | 9.0% | ||
| Q4 24 | 14.4% | -0.5% | ||
| Q3 24 | 15.6% | 6.9% | ||
| Q2 24 | 15.3% | 7.4% |
每股收益（稀释后）FASTSEE
| Q1 26 | $-0.01 | — | ||
| Q4 25 | $-0.01 | $0.30 | ||
| Q3 25 | $0.29 | $1.73 | ||
| Q2 25 | $0.29 | $0.63 | ||
| Q1 25 | $0.52 | $0.77 | ||
| Q4 24 | $0.45 | $-0.05 | ||
| Q3 24 | $0.52 | $0.63 | ||
| Q2 24 | $0.51 | $0.67 |
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 | $276.8M | $344.0M |
| 总债务越低越好 | $125.0M | $3.3B |
| 股东权益账面价值 | $3.9B | $1.2B |
| 总资产 | $5.1B | $7.0B |
| 负债/权益比越低杠杆越低 | 0.03× | 2.65× |
8季度趋势，按日历期对齐
现金及短期投资FASTSEE
| Q1 26 | $276.8M | — | ||
| Q4 25 | $276.8M | $344.0M | ||
| Q3 25 | $288.1M | $282.5M | ||
| Q2 25 | $237.8M | $354.4M | ||
| Q1 25 | $231.8M | $335.2M | ||
| Q4 24 | $255.8M | $371.8M | ||
| Q3 24 | $292.2M | $386.0M | ||
| Q2 24 | $255.5M | $388.6M |
总债务FASTSEE
| Q1 26 | $125.0M | — | ||
| Q4 25 | $125.0M | $3.3B | ||
| Q3 25 | $195.0M | $4.0B | ||
| Q2 25 | $230.0M | $4.0B | ||
| Q1 25 | $200.0M | $4.2B | ||
| Q4 24 | $200.0M | $4.2B | ||
| Q3 24 | $240.0M | $4.3B | ||
| Q2 24 | $235.0M | $4.4B |
股东权益FASTSEE
| Q1 26 | $3.9B | — | ||
| Q4 25 | $3.9B | $1.2B | ||
| Q3 25 | $3.9B | $1.2B | ||
| Q2 25 | $3.8B | $953.1M | ||
| Q1 25 | $3.7B | $797.9M | ||
| Q4 24 | $3.6B | $624.5M | ||
| Q3 24 | $3.6B | $771.2M | ||
| Q2 24 | $3.5B | $650.1M |
总资产FASTSEE
| Q1 26 | $5.1B | — | ||
| Q4 25 | $5.1B | $7.0B | ||
| Q3 25 | $5.1B | $7.1B | ||
| Q2 25 | $5.0B | $7.2B | ||
| Q1 25 | $4.9B | $7.0B | ||
| Q4 24 | $4.7B | $7.0B | ||
| Q3 24 | $4.7B | $7.3B | ||
| Q2 24 | $4.6B | $7.3B |
负债/权益比FASTSEE
| Q1 26 | 0.03× | — | ||
| Q4 25 | 0.03× | 2.65× | ||
| Q3 25 | 0.05× | 3.34× | ||
| Q2 25 | 0.06× | 4.18× | ||
| Q1 25 | 0.05× | 5.26× | ||
| Q4 24 | 0.06× | 6.72× | ||
| Q3 24 | 0.07× | 5.62× | ||
| Q2 24 | 0.07× | 6.81× |
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 | $368.2M | $293.6M |
| 自由现金流经营现金流 - 资本支出 | $308.2M | $257.7M |
| 自由现金流率自由现金流/营收 | 15.2% | 18.5% |
| 资本支出强度资本支出/营收 | 3.0% | 2.6% |
| 现金转化率经营现金流/净利润 | 1.25× | 6.70× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $458.5M |
8季度趋势，按日历期对齐
经营现金流FASTSEE
| Q1 26 | $368.2M | — | ||
| Q4 25 | $368.2M | $293.6M | ||
| Q3 25 | $386.9M | $165.9M | ||
| Q2 25 | $278.6M | $136.6M | ||
| Q1 25 | $262.2M | $31.9M | ||
| Q4 24 | $282.8M | $244.2M | ||
| Q3 24 | $296.9M | $170.5M | ||
| Q2 24 | $258.0M | $188.2M |
自由现金流FASTSEE
| Q1 26 | $308.2M | — | ||
| Q4 25 | $308.2M | $257.7M | ||
| Q3 25 | $326.6M | $119.6M | ||
| Q2 25 | $209.3M | $93.2M | ||
| Q1 25 | $206.5M | $-12.0M | ||
| Q4 24 | $222.6M | $185.1M | ||
| Q3 24 | $237.5M | $115.2M | ||
| Q2 24 | $201.9M | $129.5M |
自由现金流率FASTSEE
| Q1 26 | 15.2% | — | ||
| Q4 25 | 15.2% | 18.5% | ||
| Q3 25 | 15.3% | 8.9% | ||
| Q2 25 | 10.1% | 7.0% | ||
| Q1 25 | 10.5% | -0.9% | ||
| Q4 24 | 12.2% | 13.6% | ||
| Q3 24 | 12.4% | 8.6% | ||
| Q2 24 | 10.5% | 9.7% |
资本支出强度FASTSEE
| Q1 26 | 3.0% | — | ||
| Q4 25 | 3.0% | 2.6% | ||
| Q3 25 | 2.8% | 3.4% | ||
| Q2 25 | 3.3% | 3.3% | ||
| Q1 25 | 2.8% | 3.5% | ||
| Q4 24 | 3.3% | 4.4% | ||
| Q3 24 | 3.1% | 4.1% | ||
| Q2 24 | 2.9% | 4.4% |
现金转化率FASTSEE
| Q1 26 | 1.25× | — | ||
| Q4 25 | 1.25× | 6.70× | ||
| Q3 25 | 1.15× | 0.65× | ||
| Q2 25 | 0.84× | 1.47× | ||
| Q1 25 | 0.88× | 0.28× | ||
| Q4 24 | 1.08× | — | ||
| Q3 24 | 1.00× | 1.86× | ||
| Q2 24 | 0.88× | 1.91× |
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
FAST
| Reportable Segment Aggregation Before Other Operating Segment | $1.8B | 90% |
| Other | $211.2M | 10% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
