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FTI CONSULTING, INC（FCN）与PIPER SANDLER COMPANIES（PIPR）财务数据对比。点击上方公司名可切换其他公司
FTI CONSULTING, INC的季度营收约是PIPER SANDLER COMPANIES的1.5倍（$990.7M vs $667.0M），PIPER SANDLER COMPANIES净利率更高（17.1% vs 5.5%，领先11.6%），PIPER SANDLER COMPANIES同比增速更快（37.4% vs 10.7%），过去两年PIPER SANDLER COMPANIES的营收复合增速更高（39.2% vs 3.3%）
FTI咨询成立于1982年，总部位于美国华盛顿特区，是全球顶尖的金融咨询服务商之一。公司核心业务涵盖企业融资与重组、经济咨询、法务与诉讼咨询、战略传播、科技及战略咨询等领域，在31个国家拥有逾7700名员工。
Piper Sandler是一家美国跨国投资银行及金融服务提供商，核心业务覆盖并购重组、财务重整、公开募股、公共财政、机构经纪、投资管理、证券研究等领域，通过旗下核心子公司Piper Sandler & Co.为企业、机构投资者及公共组织提供专业金融服务。
FCN vs PIPR — 直观对比
营收规模更大
FCN
是对方的1.5倍
$667.0M
营收增速更快
PIPR
高出26.7%
10.7%
净利率更高
PIPR
高出11.6%
5.5%
两年增速更快
PIPR
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $990.7M | $667.0M |
| 净利润 | $54.5M | $114.0M |
| 毛利率 | 31.1% | — |
| 营业利润率 | 9.4% | 28.3% |
| 净利率 | 5.5% | 17.1% |
| 营收同比 | 10.7% | 37.4% |
| 净利润同比 | 9.7% | 65.0% |
| 每股收益（稀释后） | $1.77 | $6.41 |
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FCNPIPR
| Q4 25 | $990.7M | $667.0M | ||
| Q3 25 | $956.2M | $480.1M | ||
| Q2 25 | $943.7M | $398.6M | ||
| Q1 25 | $898.3M | $358.6M | ||
| Q4 24 | $894.9M | $485.4M | ||
| Q3 24 | $926.0M | $360.9M | ||
| Q2 24 | $949.2M | $340.8M | ||
| Q1 24 | $928.6M | $344.4M |
净利润FCNPIPR
| Q4 25 | $54.5M | $114.0M | ||
| Q3 25 | $82.8M | $60.3M | ||
| Q2 25 | $71.7M | $42.2M | ||
| Q1 25 | $61.8M | $64.9M | ||
| Q4 24 | $49.7M | $69.1M | ||
| Q3 24 | $66.5M | $34.8M | ||
| Q2 24 | $83.9M | $34.8M | ||
| Q1 24 | $80.0M | $42.5M |
毛利率FCNPIPR
| Q4 25 | 31.1% | — | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 32.1% | — | ||
| Q1 25 | 32.2% | — | ||
| Q4 24 | 30.2% | — | ||
| Q3 24 | 32.2% | — | ||
| Q2 24 | 32.8% | — | ||
| Q1 24 | 32.6% | — |
营业利润率FCNPIPR
| Q4 25 | 9.4% | 28.3% | ||
| Q3 25 | 12.3% | 22.4% | ||
| Q2 25 | 10.5% | 12.3% | ||
| Q1 25 | 8.8% | 8.2% | ||
| Q4 24 | 5.9% | 16.9% | ||
| Q3 24 | 9.8% | 15.4% | ||
| Q2 24 | 11.0% | 8.3% | ||
| Q1 24 | 10.7% | 15.2% |
净利率FCNPIPR
| Q4 25 | 5.5% | 17.1% | ||
| Q3 25 | 8.7% | 12.6% | ||
| Q2 25 | 7.6% | 10.6% | ||
| Q1 25 | 6.9% | 18.1% | ||
| Q4 24 | 5.6% | 14.2% | ||
| Q3 24 | 7.2% | 9.6% | ||
| Q2 24 | 8.8% | 10.2% | ||
| Q1 24 | 8.6% | 12.3% |
每股收益（稀释后）FCNPIPR
| Q4 25 | $1.77 | $6.41 | ||
| Q3 25 | $2.60 | $3.38 | ||
| Q2 25 | $2.13 | $2.38 | ||
| Q1 25 | $1.74 | $3.65 | ||
| Q4 24 | $1.39 | $3.88 | ||
| Q3 24 | $1.85 | $1.96 | ||
| Q2 24 | $2.34 | $1.97 | ||
| Q1 24 | $2.23 | $2.43 |
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 | $265.1M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.7B | $1.4B |
| 总资产 | $3.5B | $2.6B |
| 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FCNPIPR
| Q4 25 | $265.1M | — | ||
| Q3 25 | $146.0M | — | ||
| Q2 25 | $152.8M | — | ||
| Q1 25 | $151.1M | — | ||
| Q4 24 | $660.5M | — | ||
| Q3 24 | $386.3M | — | ||
| Q2 24 | $226.4M | — | ||
| Q1 24 | $244.0M | — |
总债务FCNPIPR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $60.0M | — | ||
| Q1 24 | $205.0M | — |
股东权益FCNPIPR
| Q4 25 | $1.7B | $1.4B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $2.1B | $1.2B | ||
| Q4 24 | $2.3B | $1.2B | ||
| Q3 24 | $2.3B | $1.2B | ||
| Q2 24 | $2.1B | $1.1B | ||
| Q1 24 | $2.1B | $1.1B |
总资产FCNPIPR
| Q4 25 | $3.5B | $2.6B | ||
| Q3 25 | $3.5B | $2.2B | ||
| Q2 25 | $3.5B | $2.0B | ||
| Q1 25 | $3.3B | $1.8B | ||
| Q4 24 | $3.6B | $2.3B | ||
| Q3 24 | $3.5B | $2.0B | ||
| Q2 24 | $3.4B | $1.9B | ||
| Q1 24 | $3.3B | $1.8B |
负债/权益比FCNPIPR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.03× | — | ||
| Q1 24 | 0.10× | — |
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 | $359.8M | $729.8M |
| 自由现金流经营现金流 - 资本支出 | $351.4M | — |
| 自由现金流率自由现金流/营收 | 35.5% | — |
| 资本支出强度资本支出/营收 | 0.8% | — |
| 现金转化率经营现金流/净利润 | 6.60× | 6.40× |
| 过去12个月自由现金流最近4个季度 | $93.6M | — |
8季度趋势，按日历期对齐
经营现金流FCNPIPR
| Q4 25 | $359.8M | $729.8M | ||
| Q3 25 | $201.9M | $31.9M | ||
| Q2 25 | $55.7M | $32.1M | ||
| Q1 25 | $-465.2M | $-207.2M | ||
| Q4 24 | $315.3M | $163.8M | ||
| Q3 24 | $219.4M | $80.1M | ||
| Q2 24 | $135.2M | $266.5M | ||
| Q1 24 | $-274.8M | $-197.2M |
自由现金流FCNPIPR
| Q4 25 | $351.4M | — | ||
| Q3 25 | $187.0M | — | ||
| Q2 25 | $38.3M | — | ||
| Q1 25 | $-483.0M | — | ||
| Q4 24 | $301.6M | — | ||
| Q3 24 | $212.3M | — | ||
| Q2 24 | $125.2M | — | ||
| Q1 24 | $-279.5M | — |
自由现金流率FCNPIPR
| Q4 25 | 35.5% | — | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | 4.1% | — | ||
| Q1 25 | -53.8% | — | ||
| Q4 24 | 33.7% | — | ||
| Q3 24 | 22.9% | — | ||
| Q2 24 | 13.2% | — | ||
| Q1 24 | -30.1% | — |
资本支出强度FCNPIPR
| Q4 25 | 0.8% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 0.8% | — | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 0.5% | — |
现金转化率FCNPIPR
| Q4 25 | 6.60× | 6.40× | ||
| Q3 25 | 2.44× | 0.53× | ||
| Q2 25 | 0.78× | 0.76× | ||
| Q1 25 | -7.52× | -3.19× | ||
| Q4 24 | 6.34× | 2.37× | ||
| Q3 24 | 3.30× | 2.30× | ||
| Q2 24 | 1.61× | 7.66× | ||
| Q1 24 | -3.44× | -4.64× |
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
FCN
| Corporate Finance Segment | $423.2M | 43% |
| Forensic And Litigation Consulting | $192.9M | 19% |
| Economic Consulting | $176.2M | 18% |
| Strategic Communications | $99.4M | 10% |
| Other | $99.0M | 10% |
PIPR
| Advisory Services | $402.6M | 60% |
| Equities Financing | $66.7M | 10% |
| Equity Salesand Trading | $64.2M | 10% |
| Fixed Income Salesand Trading | $47.9M | 7% |
| Other | $46.7M | 7% |
| Debt Financing | $38.9M | 6% |
