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FIRST HORIZON CORP（FHN）与FIVE BELOW, INC（FIVE）财务数据对比。点击上方公司名可切换其他公司
FIVE BELOW, INC的季度营收约是FIRST HORIZON CORP的1.2倍（$1.0B vs $888.0M），FIRST HORIZON CORP净利率更高（29.4% vs 3.5%，领先25.9%），FIVE BELOW, INC同比增速更快（23.1% vs 21.8%），FIRST HORIZON CORP自由现金流更多（$389.0M vs $-133.2M），过去两年FIRST HORIZON CORP的营收复合增速更高（20.0% vs -11.9%）
第一地平线公司（前身为第一田纳西银行）是一家成立于1864年的金融服务企业，总部位于美国田纳西州孟菲斯市。该公司通过旗下子公司第一地平线银行开展业务，网点覆盖美国东南部12个州，是该区域第四大区域性银行。
Five Below是美国特色折扣礼品连锁品牌，2002年成立，总部位于宾夕法尼亚州费城，主要面向青少年消费群体，旗下绝大多数商品定价不超过5美元，另有少量精选商品最高定价40美元，目前在全美拥有超过1850家线下门店。
FHN vs FIVE — 直观对比
营收规模更大
FIVE
是对方的1.2倍
$888.0M
营收增速更快
FIVE
高出1.3%
21.8%
净利率更高
FHN
高出25.9%
3.5%
自由现金流更多
FHN
多$522.2M
$-133.2M
两年增速更快
FHN
近两年复合增速
-11.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $888.0M | $1.0B |
| 净利润 | $261.0M | $36.5M |
| 毛利率 | — | 33.8% |
| 营业利润率 | 38.5% | 4.2% |
| 净利率 | 29.4% | 3.5% |
| 营收同比 | 21.8% | 23.1% |
| 净利润同比 | 57.2% | 2063.9% |
| 每股收益（稀释后） | $0.51 | $0.66 |
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FHNFIVE
| Q4 25 | $888.0M | $1.0B | ||
| Q3 25 | $889.0M | $1.0B | ||
| Q2 25 | $830.0M | $970.5M | ||
| Q1 25 | $812.0M | $1.4B | ||
| Q4 24 | $729.0M | $843.7M | ||
| Q3 24 | $827.0M | $830.1M | ||
| Q2 24 | — | $811.9M | ||
| Q1 24 | $819.0M | $1.3B |
净利润FHNFIVE
| Q4 25 | $261.0M | $36.5M | ||
| Q3 25 | $262.0M | $42.8M | ||
| Q2 25 | $241.0M | $41.1M | ||
| Q1 25 | $218.0M | $187.5M | ||
| Q4 24 | $166.0M | $1.7M | ||
| Q3 24 | $218.0M | $33.0M | ||
| Q2 24 | — | $31.5M | ||
| Q1 24 | $192.0M | $202.2M |
毛利率FHNFIVE
| Q4 25 | — | 33.8% | ||
| Q3 25 | — | 33.3% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 40.2% | ||
| Q4 24 | — | 30.6% | ||
| Q3 24 | — | 32.7% | ||
| Q2 24 | — | 32.5% | ||
| Q1 24 | — | 41.2% |
营业利润率FHNFIVE
| Q4 25 | 38.5% | 4.2% | ||
| Q3 25 | 38.7% | 5.1% | ||
| Q2 25 | 37.2% | 5.2% | ||
| Q1 25 | 35.1% | 17.7% | ||
| Q4 24 | 28.8% | -0.1% | ||
| Q3 24 | 34.0% | 5.0% | ||
| Q2 24 | — | 4.5% | ||
| Q1 24 | 31.0% | 20.1% |
净利率FHNFIVE
| Q4 25 | 29.4% | 3.5% | ||
| Q3 25 | 29.5% | 4.2% | ||
| Q2 25 | 29.0% | 4.2% | ||
| Q1 25 | 26.8% | 13.5% | ||
| Q4 24 | 22.8% | 0.2% | ||
| Q3 24 | 26.4% | 4.0% | ||
| Q2 24 | — | 3.9% | ||
| Q1 24 | 23.4% | 15.1% |
每股收益（稀释后）FHNFIVE
| Q4 25 | $0.51 | $0.66 | ||
| Q3 25 | $0.50 | $0.77 | ||
| Q2 25 | $0.45 | $0.75 | ||
| Q1 25 | $0.41 | $3.40 | ||
| Q4 24 | $0.29 | $0.03 | ||
| Q3 24 | $0.40 | $0.60 | ||
| Q2 24 | — | $0.57 | ||
| Q1 24 | $0.33 | $3.64 |
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 | — | $524.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.8B | $2.0B |
| 总资产 | $83.9B | $4.8B |
| 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FHNFIVE
| Q4 25 | — | $524.5M | ||
| Q3 25 | — | $670.2M | ||
| Q2 25 | — | $624.0M | ||
| Q1 25 | — | $528.8M | ||
| Q4 24 | — | $216.6M | ||
| Q3 24 | — | $327.7M | ||
| Q2 24 | — | $369.6M | ||
| Q1 24 | — | $460.1M |
股东权益FHNFIVE
| Q4 25 | $8.8B | $2.0B | ||
| Q3 25 | $8.9B | $1.9B | ||
| Q2 25 | $9.0B | $1.9B | ||
| Q1 25 | $8.7B | $1.8B | ||
| Q4 24 | $8.8B | $1.6B | ||
| Q3 24 | $9.0B | $1.6B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | $8.9B | $1.6B |
总资产FHNFIVE
| Q4 25 | $83.9B | $4.8B | ||
| Q3 25 | $83.2B | $4.6B | ||
| Q2 25 | $82.1B | $4.5B | ||
| Q1 25 | $81.5B | $4.3B | ||
| Q4 24 | $82.2B | $4.2B | ||
| Q3 24 | $82.6B | $4.0B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | $81.8B | $3.9B |
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 | $396.0M | $-80.1M |
| 自由现金流经营现金流 - 资本支出 | $389.0M | $-133.2M |
| 自由现金流率自由现金流/营收 | 43.8% | -12.8% |
| 资本支出强度资本支出/营收 | 0.8% | 5.1% |
| 现金转化率经营现金流/净利润 | 1.52× | -2.19× |
| 过去12个月自由现金流最近4个季度 | $595.0M | $323.0M |
8季度趋势，按日历期对齐
经营现金流FHNFIVE
| Q4 25 | $396.0M | $-80.1M | ||
| Q3 25 | $-200.0M | $93.0M | ||
| Q2 25 | $83.0M | $132.7M | ||
| Q1 25 | $349.0M | $363.5M | ||
| Q4 24 | $191.0M | $-30.6M | ||
| Q3 24 | $389.0M | $71.3M | ||
| Q2 24 | — | $26.4M | ||
| Q1 24 | $838.0M | $407.7M |
自由现金流FHNFIVE
| Q4 25 | $389.0M | $-133.2M | ||
| Q3 25 | $-208.0M | $48.3M | ||
| Q2 25 | $74.0M | $96.5M | ||
| Q1 25 | $340.0M | $311.4M | ||
| Q4 24 | $174.0M | $-111.0M | ||
| Q3 24 | $383.0M | $-32.4M | ||
| Q2 24 | — | $-61.4M | ||
| Q1 24 | $828.0M | $304.6M |
自由现金流率FHNFIVE
| Q4 25 | 43.8% | -12.8% | ||
| Q3 25 | -23.4% | 4.7% | ||
| Q2 25 | 8.9% | 9.9% | ||
| Q1 25 | 41.9% | 22.4% | ||
| Q4 24 | 23.9% | -13.2% | ||
| Q3 24 | 46.3% | -3.9% | ||
| Q2 24 | — | -7.6% | ||
| Q1 24 | 101.1% | 22.8% |
资本支出强度FHNFIVE
| Q4 25 | 0.8% | 5.1% | ||
| Q3 25 | 0.9% | 4.4% | ||
| Q2 25 | 1.1% | 3.7% | ||
| Q1 25 | 1.1% | 3.7% | ||
| Q4 24 | 2.3% | 9.5% | ||
| Q3 24 | 0.7% | 12.5% | ||
| Q2 24 | — | 10.8% | ||
| Q1 24 | 1.2% | 7.7% |
现金转化率FHNFIVE
| Q4 25 | 1.52× | -2.19× | ||
| Q3 25 | -0.76× | 2.17× | ||
| Q2 25 | 0.34× | 3.22× | ||
| Q1 25 | 1.60× | 1.94× | ||
| Q4 24 | 1.15× | -18.13× | ||
| Q3 24 | 1.78× | 2.16× | ||
| Q2 24 | — | 0.84× | ||
| Q1 24 | 4.36× | 2.02× |
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
FHN
| Commercial Consumer And Wealth Segment | $776.0M | 87% |
| Other | $88.0M | 10% |
| Corporate | $24.0M | 3% |
FIVE
暂无分部数据
