vs
Fastenal（FAST）与硕腾（ZTS）财务数据对比。点击上方公司名可切换其他公司
硕腾的季度营收约是Fastenal的1.2倍（$2.4B vs $2.0B），硕腾净利率更高（25.3% vs 14.5%，领先10.8%），Fastenal同比增速更快（3.5% vs 3.0%），硕腾自由现金流更多（$732.0M vs $308.2M），过去两年硕腾的营收复合增速更高（4.4% vs 2.9%）
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。
硕腾是全球规模最大的动物保健制药企业，专注于宠物与家畜用药品、疫苗的研发和生产，前身为制药巨头辉瑞旗下的动物保健业务板块，辉瑞剥离多数股权后成为完全独立的企业。目前公司产品直销约45个国家，在全球超过100个国家和地区销售，海外业务占总营收的50%左右。
FAST vs ZTS — 直观对比
营收规模更大
ZTS
是对方的1.2倍
$2.0B
营收增速更快
FAST
高出0.5%
3.0%
净利率更高
ZTS
高出10.8%
14.5%
自由现金流更多
ZTS
多$423.8M
$308.2M
两年增速更快
ZTS
近两年复合增速
2.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $2.4B |
| 净利润 | $293.9M | $603.0M |
| 毛利率 | 44.3% | 70.2% |
| 营业利润率 | 18.9% | 31.9% |
| 净利率 | 14.5% | 25.3% |
| 营收同比 | 3.5% | 3.0% |
| 净利润同比 | -1.6% | 3.8% |
| 每股收益（稀释后） | $-0.01 | $1.37 |
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FASTZTS
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $2.4B | ||
| Q3 25 | $2.1B | $2.4B | ||
| Q2 25 | $2.1B | $2.5B | ||
| Q1 25 | $2.0B | $2.2B | ||
| Q4 24 | $1.8B | $2.3B | ||
| Q3 24 | $1.9B | $2.4B | ||
| Q2 24 | $1.9B | $2.4B |
净利润FASTZTS
| Q1 26 | $293.9M | — | ||
| Q4 25 | $293.9M | $603.0M | ||
| Q3 25 | $335.5M | $721.0M | ||
| Q2 25 | $330.3M | $718.0M | ||
| Q1 25 | $298.7M | $631.0M | ||
| Q4 24 | $262.1M | $581.0M | ||
| Q3 24 | $298.1M | $682.0M | ||
| Q2 24 | $292.7M | $624.0M |
毛利率FASTZTS
| Q1 26 | 44.3% | — | ||
| Q4 25 | 44.3% | 70.2% | ||
| Q3 25 | 45.3% | 71.5% | ||
| Q2 25 | 45.3% | 73.6% | ||
| Q1 25 | 45.1% | 72.0% | ||
| Q4 24 | 44.8% | 69.5% | ||
| Q3 24 | 44.9% | 70.6% | ||
| Q2 24 | 45.1% | 71.7% |
营业利润率FASTZTS
| Q1 26 | 18.9% | — | ||
| Q4 25 | 18.9% | 31.9% | ||
| Q3 25 | 20.7% | 37.0% | ||
| Q2 25 | 21.0% | 36.7% | ||
| Q1 25 | 20.1% | 36.5% | ||
| Q4 24 | 18.9% | 31.6% | ||
| Q3 24 | 20.3% | 36.6% | ||
| Q2 24 | 20.2% | 33.0% |
净利率FASTZTS
| Q1 26 | 14.5% | — | ||
| Q4 25 | 14.5% | 25.3% | ||
| Q3 25 | 15.7% | 30.0% | ||
| Q2 25 | 15.9% | 29.2% | ||
| Q1 25 | 15.2% | 28.4% | ||
| Q4 24 | 14.4% | 25.1% | ||
| Q3 24 | 15.6% | 28.6% | ||
| Q2 24 | 15.3% | 26.4% |
每股收益（稀释后）FASTZTS
| Q1 26 | $-0.01 | — | ||
| Q4 25 | $-0.01 | $1.37 | ||
| Q3 25 | $0.29 | $1.63 | ||
| Q2 25 | $0.29 | $1.61 | ||
| Q1 25 | $0.52 | $1.41 | ||
| Q4 24 | $0.45 | $1.29 | ||
| Q3 24 | $0.52 | $1.50 | ||
| Q2 24 | $0.51 | $1.37 |
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 | — |
| 总债务越低越好 | $125.0M | — |
| 股东权益账面价值 | $3.9B | $3.3B |
| 总资产 | $5.1B | $15.5B |
| 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FASTZTS
| Q1 26 | $276.8M | — | ||
| Q4 25 | $276.8M | — | ||
| Q3 25 | $288.1M | $2.1B | ||
| Q2 25 | $237.8M | $1.4B | ||
| Q1 25 | $231.8M | $1.7B | ||
| Q4 24 | $255.8M | $2.0B | ||
| Q3 24 | $292.2M | $1.7B | ||
| Q2 24 | $255.5M | $1.6B |
总债务FASTZTS
| Q1 26 | $125.0M | — | ||
| Q4 25 | $125.0M | — | ||
| Q3 25 | $195.0M | — | ||
| Q2 25 | $230.0M | — | ||
| Q1 25 | $200.0M | — | ||
| Q4 24 | $200.0M | — | ||
| Q3 24 | $240.0M | — | ||
| Q2 24 | $235.0M | — |
股东权益FASTZTS
| Q1 26 | $3.9B | — | ||
| Q4 25 | $3.9B | $3.3B | ||
| Q3 25 | $3.9B | $5.4B | ||
| Q2 25 | $3.8B | $5.0B | ||
| Q1 25 | $3.7B | $4.7B | ||
| Q4 24 | $3.6B | $4.8B | ||
| Q3 24 | $3.6B | $5.2B | ||
| Q2 24 | $3.5B | $5.0B |
总资产FASTZTS
| Q1 26 | $5.1B | — | ||
| Q4 25 | $5.1B | $15.5B | ||
| Q3 25 | $5.1B | $15.2B | ||
| Q2 25 | $5.0B | $14.5B | ||
| Q1 25 | $4.9B | $14.1B | ||
| Q4 24 | $4.7B | $14.2B | ||
| Q3 24 | $4.7B | $14.4B | ||
| Q2 24 | $4.6B | $14.2B |
负债/权益比FASTZTS
| 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 | $893.0M |
| 自由现金流经营现金流 - 资本支出 | $308.2M | $732.0M |
| 自由现金流率自由现金流/营收 | 15.2% | 30.7% |
| 资本支出强度资本支出/营收 | 3.0% | 6.7% |
| 现金转化率经营现金流/净利润 | 1.25× | 1.48× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $2.3B |
8季度趋势，按日历期对齐
经营现金流FASTZTS
| Q1 26 | $368.2M | — | ||
| Q4 25 | $368.2M | $893.0M | ||
| Q3 25 | $386.9M | $938.0M | ||
| Q2 25 | $278.6M | $486.0M | ||
| Q1 25 | $262.2M | $587.0M | ||
| Q4 24 | $282.8M | $905.0M | ||
| Q3 24 | $296.9M | $951.0M | ||
| Q2 24 | $258.0M | $502.0M |
自由现金流FASTZTS
| Q1 26 | $308.2M | — | ||
| Q4 25 | $308.2M | $732.0M | ||
| Q3 25 | $326.6M | $805.0M | ||
| Q2 25 | $209.3M | $308.0M | ||
| Q1 25 | $206.5M | $438.0M | ||
| Q4 24 | $222.6M | $689.0M | ||
| Q3 24 | $237.5M | $784.0M | ||
| Q2 24 | $201.9M | $370.0M |
自由现金流率FASTZTS
| Q1 26 | 15.2% | — | ||
| Q4 25 | 15.2% | 30.7% | ||
| Q3 25 | 15.3% | 33.5% | ||
| Q2 25 | 10.1% | 12.5% | ||
| Q1 25 | 10.5% | 19.7% | ||
| Q4 24 | 12.2% | 29.7% | ||
| Q3 24 | 12.4% | 32.8% | ||
| Q2 24 | 10.5% | 15.7% |
资本支出强度FASTZTS
| Q1 26 | 3.0% | — | ||
| Q4 25 | 3.0% | 6.7% | ||
| Q3 25 | 2.8% | 5.5% | ||
| Q2 25 | 3.3% | 7.2% | ||
| Q1 25 | 2.8% | 6.7% | ||
| Q4 24 | 3.3% | 9.3% | ||
| Q3 24 | 3.1% | 7.0% | ||
| Q2 24 | 2.9% | 5.6% |
现金转化率FASTZTS
| Q1 26 | 1.25× | — | ||
| Q4 25 | 1.25× | 1.48× | ||
| Q3 25 | 1.15× | 1.30× | ||
| Q2 25 | 0.84× | 0.68× | ||
| Q1 25 | 0.88× | 0.93× | ||
| Q4 24 | 1.08× | 1.56× | ||
| Q3 24 | 1.00× | 1.39× | ||
| Q2 24 | 0.88× | 0.80× |
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% |
ZTS
| Other | $1.3B | 56% |
| Livestock | $234.0M | 10% |
| Pain Sedation | $209.0M | 9% |
| Other Pharmaceuticals | $188.0M | 8% |
| Swine | $125.0M | 5% |
| Poultry | $117.0M | 5% |
| Fish | $81.0M | 3% |
| Other Non Pharmaceuticals | $70.0M | 3% |
| Manufactured Product Other | $18.0M | 1% |
| Medicated Feed Additives | $12.0M | 1% |
