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Fastenal（FAST）与Tennessee Valley Authority（TVE）财务数据对比。点击上方公司名可切换其他公司
Tennessee Valley Authority的季度营收约是Fastenal的1.5倍（$3.0B vs $2.0B），Fastenal净利率更高（14.5% vs 8.7%，领先5.8%），Tennessee Valley Authority同比增速更快（4.4% vs 3.5%），Fastenal自由现金流更多（$308.2M vs $-814.0M），过去两年Fastenal的营收复合增速更高（2.9% vs -1.7%）
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。
田纳西河流域管理局（TVA）是美国联邦政府所有的电力公用事业企业，服务范围覆盖田纳西州全境，以及阿拉巴马州、密西西比州、肯塔基州的部分区域，还涵盖佐治亚州、北卡罗来纳州、弗吉尼亚州的小块区域。该企业虽归属联邦政府，但不依赖纳税人资金运营，运营模式与私营盈利企业类似，总部位于田纳西州诺克斯维尔。
FAST vs TVE — 直观对比
营收规模更大
TVE
是对方的1.5倍
$2.0B
营收增速更快
TVE
高出0.9%
3.5%
净利率更高
FAST
高出5.8%
8.7%
自由现金流更多
FAST
多$1.1B
$-814.0M
两年增速更快
FAST
近两年复合增速
-1.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $3.0B |
| 净利润 | $293.9M | $266.0M |
| 毛利率 | 44.3% | — |
| 营业利润率 | 18.9% | 18.1% |
| 净利率 | 14.5% | 8.7% |
| 营收同比 | 3.5% | 4.4% |
| 净利润同比 | -1.6% | 112.8% |
| 每股收益（稀释后） | $-0.01 | — |
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FASTTVE
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $3.0B | ||
| Q3 25 | $2.1B | $3.9B | ||
| Q2 25 | $2.1B | $3.3B | ||
| Q1 25 | $2.0B | $3.5B | ||
| Q4 24 | $1.8B | $2.9B | ||
| Q3 24 | $1.9B | $3.5B | ||
| Q2 24 | $1.9B | $2.9B |
净利润FASTTVE
| Q1 26 | $293.9M | — | ||
| Q4 25 | $293.9M | $266.0M | ||
| Q3 25 | $335.5M | $615.0M | ||
| Q2 25 | $330.3M | $212.0M | ||
| Q1 25 | $298.7M | $408.0M | ||
| Q4 24 | $262.1M | $125.0M | ||
| Q3 24 | $298.1M | $520.0M | ||
| Q2 24 | $292.7M | $181.0M |
毛利率FASTTVE
| Q1 26 | 44.3% | — | ||
| Q4 25 | 44.3% | — | ||
| Q3 25 | 45.3% | — | ||
| Q2 25 | 45.3% | — | ||
| Q1 25 | 45.1% | — | ||
| Q4 24 | 44.8% | — | ||
| Q3 24 | 44.9% | — | ||
| Q2 24 | 45.1% | — |
营业利润率FASTTVE
| Q1 26 | 18.9% | — | ||
| Q4 25 | 18.9% | 18.1% | ||
| Q3 25 | 20.7% | 23.6% | ||
| Q2 25 | 21.0% | 15.6% | ||
| Q1 25 | 20.1% | 20.3% | ||
| Q4 24 | 18.9% | 14.1% | ||
| Q3 24 | 20.3% | 22.7% | ||
| Q2 24 | 20.2% | 15.9% |
净利率FASTTVE
| Q1 26 | 14.5% | — | ||
| Q4 25 | 14.5% | 8.7% | ||
| Q3 25 | 15.7% | 15.7% | ||
| Q2 25 | 15.9% | 6.4% | ||
| Q1 25 | 15.2% | 11.6% | ||
| Q4 24 | 14.4% | 4.3% | ||
| Q3 24 | 15.6% | 14.8% | ||
| Q2 24 | 15.3% | 6.3% |
每股收益（稀释后）FASTTVE
| Q1 26 | $-0.01 | — | ||
| Q4 25 | $-0.01 | — | ||
| Q3 25 | $0.29 | — | ||
| Q2 25 | $0.29 | — | ||
| Q1 25 | $0.52 | — | ||
| Q4 24 | $0.45 | — | ||
| Q3 24 | $0.52 | — | ||
| Q2 24 | $0.51 | — |
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 | $501.0M |
| 总债务越低越好 | $125.0M | — |
| 股东权益账面价值 | $3.9B | — |
| 总资产 | $5.1B | $59.5B |
| 负债/权益比越低杠杆越低 | 0.03× | — |
8季度趋势，按日历期对齐
现金及短期投资FASTTVE
| Q1 26 | $276.8M | — | ||
| Q4 25 | $276.8M | $501.0M | ||
| Q3 25 | $288.1M | $1.6B | ||
| Q2 25 | $237.8M | $501.0M | ||
| Q1 25 | $231.8M | $502.0M | ||
| Q4 24 | $255.8M | $507.0M | ||
| Q3 24 | $292.2M | $502.0M | ||
| Q2 24 | $255.5M | $501.0M |
总债务FASTTVE
| Q1 26 | $125.0M | — | ||
| Q4 25 | $125.0M | — | ||
| Q3 25 | $195.0M | $22.1B | ||
| Q2 25 | $230.0M | — | ||
| Q1 25 | $200.0M | — | ||
| Q4 24 | $200.0M | — | ||
| Q3 24 | $240.0M | $19.1B | ||
| Q2 24 | $235.0M | — |
股东权益FASTTVE
| Q1 26 | $3.9B | — | ||
| Q4 25 | $3.9B | — | ||
| Q3 25 | $3.9B | — | ||
| Q2 25 | $3.8B | — | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $3.6B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $3.5B | — |
总资产FASTTVE
| Q1 26 | $5.1B | — | ||
| Q4 25 | $5.1B | $59.5B | ||
| Q3 25 | $5.1B | $60.9B | ||
| Q2 25 | $5.0B | $59.9B | ||
| Q1 25 | $4.9B | $59.3B | ||
| Q4 24 | $4.7B | $58.4B | ||
| Q3 24 | $4.7B | $57.7B | ||
| Q2 24 | $4.6B | $56.2B |
负债/权益比FASTTVE
| Q1 26 | 0.03× | — | ||
| Q4 25 | 0.03× | — | ||
| Q3 25 | 0.05× | — | ||
| Q2 25 | 0.06× | — | ||
| Q1 25 | 0.05× | — | ||
| Q4 24 | 0.06× | — | ||
| Q3 24 | 0.07× | — | ||
| Q2 24 | 0.07× | — |
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 | $330.0M |
| 自由现金流经营现金流 - 资本支出 | $308.2M | $-814.0M |
| 自由现金流率自由现金流/营收 | 15.2% | -26.7% |
| 资本支出强度资本支出/营收 | 3.0% | 37.5% |
| 现金转化率经营现金流/净利润 | 1.25× | 1.24× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $-1.2B |
8季度趋势，按日历期对齐
经营现金流FASTTVE
| Q1 26 | $368.2M | — | ||
| Q4 25 | $368.2M | $330.0M | ||
| Q3 25 | $386.9M | $1.2B | ||
| Q2 25 | $278.6M | $615.0M | ||
| Q1 25 | $262.2M | $1.0B | ||
| Q4 24 | $282.8M | $450.0M | ||
| Q3 24 | $296.9M | $1.1B | ||
| Q2 24 | $258.0M | $508.0M |
自由现金流FASTTVE
| Q1 26 | $308.2M | — | ||
| Q4 25 | $308.2M | $-814.0M | ||
| Q3 25 | $326.6M | $233.0M | ||
| Q2 25 | $209.3M | $-431.0M | ||
| Q1 25 | $206.5M | $-176.0M | ||
| Q4 24 | $222.6M | $-759.0M | ||
| Q3 24 | $237.5M | $164.0M | ||
| Q2 24 | $201.9M | $-248.0M |
自由现金流率FASTTVE
| Q1 26 | 15.2% | — | ||
| Q4 25 | 15.2% | -26.7% | ||
| Q3 25 | 15.3% | 6.0% | ||
| Q2 25 | 10.1% | -13.0% | ||
| Q1 25 | 10.5% | -5.0% | ||
| Q4 24 | 12.2% | -26.0% | ||
| Q3 24 | 12.4% | 4.7% | ||
| Q2 24 | 10.5% | -8.6% |
资本支出强度FASTTVE
| Q1 26 | 3.0% | — | ||
| Q4 25 | 3.0% | 37.5% | ||
| Q3 25 | 2.8% | 25.9% | ||
| Q2 25 | 3.3% | 31.6% | ||
| Q1 25 | 2.8% | 33.6% | ||
| Q4 24 | 3.3% | 41.4% | ||
| Q3 24 | 3.1% | 25.6% | ||
| Q2 24 | 2.9% | 26.3% |
现金转化率FASTTVE
| Q1 26 | 1.25× | — | ||
| Q4 25 | 1.25× | 1.24× | ||
| Q3 25 | 1.15× | 2.03× | ||
| Q2 25 | 0.84× | 2.90× | ||
| Q1 25 | 0.88× | 2.48× | ||
| Q4 24 | 1.08× | 3.60× | ||
| Q3 24 | 1.00× | 2.05× | ||
| Q2 24 | 0.88× | 2.81× |
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% |
TVE
| TN | $2.0B | 65% |
| AL | $449.0M | 15% |
| MS | $266.0M | 9% |
| KY | $193.0M | 6% |
| GA | $75.0M | 2% |
| Federal Agencies And Other | $29.0M | 1% |
| NC | $23.0M | 1% |
| VA | $12.0M | 0% |
| Off System Sales Member | $2.0M | 0% |
