vs
FIRST HORIZON CORP（FHN）与朗美通（LITE）财务数据对比。点击上方公司名可切换其他公司
FIRST HORIZON CORP的季度营收约是朗美通的1.3倍（$888.0M vs $665.5M），FIRST HORIZON CORP净利率更高（29.4% vs 11.8%，领先17.6%），朗美通同比增速更快（65.5% vs 21.8%），FIRST HORIZON CORP自由现金流更多（$389.0M vs $43.1M），过去两年朗美通的营收复合增速更高（34.8% vs 20.0%）
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。
朗美通控股（Lumentum Holdings Inc.）是全球知名光电产品供应商，前身为美国捷迪讯（JDSU）旗下光电器件及激光业务板块，2015年8月随捷迪讯分拆独立运营，总部位于美国加利福尼亚州米尔皮塔斯，主营光通信网络设备、激光器、定制光学解决方案等多元产品。
FHN vs LITE — 直观对比
营收规模更大
FHN
是对方的1.3倍
$665.5M
营收增速更快
LITE
高出43.7%
21.8%
净利率更高
FHN
高出17.6%
11.8%
自由现金流更多
FHN
多$345.9M
$43.1M
两年增速更快
LITE
近两年复合增速
20.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $888.0M | $665.5M |
| 净利润 | $261.0M | $78.2M |
| 毛利率 | — | 36.1% |
| 营业利润率 | 38.5% | 9.7% |
| 净利率 | 29.4% | 11.8% |
| 营收同比 | 21.8% | 65.5% |
| 净利润同比 | 57.2% | 228.4% |
| 每股收益（稀释后） | $0.51 | $0.89 |
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FHNLITE
| Q4 25 | $888.0M | $665.5M | ||
| Q3 25 | $889.0M | $533.8M | ||
| Q2 25 | $830.0M | $480.7M | ||
| Q1 25 | $812.0M | $425.2M | ||
| Q4 24 | $729.0M | $402.2M | ||
| Q3 24 | $827.0M | $336.9M | ||
| Q2 24 | — | $308.3M | ||
| Q1 24 | $819.0M | $366.5M |
净利润FHNLITE
| Q4 25 | $261.0M | $78.2M | ||
| Q3 25 | $262.0M | $4.2M | ||
| Q2 25 | $241.0M | $213.3M | ||
| Q1 25 | $218.0M | $-44.1M | ||
| Q4 24 | $166.0M | $-60.9M | ||
| Q3 24 | $218.0M | $-82.4M | ||
| Q2 24 | — | $-252.5M | ||
| Q1 24 | $192.0M | $-127.0M |
毛利率FHNLITE
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 34.0% | ||
| Q2 25 | — | 33.3% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | 24.8% | ||
| Q3 24 | — | 23.1% | ||
| Q2 24 | — | 16.6% | ||
| Q1 24 | — | 16.2% |
营业利润率FHNLITE
| Q4 25 | 38.5% | 9.7% | ||
| Q3 25 | 38.7% | 1.3% | ||
| Q2 25 | 37.2% | -1.7% | ||
| Q1 25 | 35.1% | -8.9% | ||
| Q4 24 | 28.8% | -12.8% | ||
| Q3 24 | 34.0% | -24.5% | ||
| Q2 24 | — | -43.3% | ||
| Q1 24 | 31.0% | -31.3% |
净利率FHNLITE
| Q4 25 | 29.4% | 11.8% | ||
| Q3 25 | 29.5% | 0.8% | ||
| Q2 25 | 29.0% | 44.4% | ||
| Q1 25 | 26.8% | -10.4% | ||
| Q4 24 | 22.8% | -15.1% | ||
| Q3 24 | 26.4% | -24.5% | ||
| Q2 24 | — | -81.9% | ||
| Q1 24 | 23.4% | -34.7% |
每股收益（稀释后）FHNLITE
| Q4 25 | $0.51 | $0.89 | ||
| Q3 25 | $0.50 | $0.05 | ||
| Q2 25 | $0.45 | $3.10 | ||
| Q1 25 | $0.41 | $-0.64 | ||
| Q4 24 | $0.29 | $-0.88 | ||
| Q3 24 | $0.40 | $-1.21 | ||
| Q2 24 | — | $-3.75 | ||
| Q1 24 | $0.33 | $-1.88 |
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 | — | $1.2B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.8B | $846.6M |
| 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FHNLITE
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $877.1M | ||
| Q1 25 | — | $866.7M | ||
| Q4 24 | — | $896.7M | ||
| Q3 24 | — | $916.1M | ||
| Q2 24 | — | $887.0M | ||
| Q1 24 | — | $870.9M |
股东权益FHNLITE
| Q4 25 | $8.8B | $846.6M | ||
| Q3 25 | $8.9B | $780.8M | ||
| Q2 25 | $9.0B | $1.1B | ||
| Q1 25 | $8.7B | $879.5M | ||
| Q4 24 | $8.8B | $872.3M | ||
| Q3 24 | $9.0B | $895.9M | ||
| Q2 24 | — | $957.3M | ||
| Q1 24 | $8.9B | $1.2B |
总资产FHNLITE
| Q4 25 | $83.9B | $4.8B | ||
| Q3 25 | $83.2B | $4.6B | ||
| Q2 25 | $82.1B | $4.2B | ||
| Q1 25 | $81.5B | $4.0B | ||
| Q4 24 | $82.2B | $4.0B | ||
| Q3 24 | $82.6B | $4.0B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | $81.8B | $4.2B |
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 | $126.7M |
| 自由现金流经营现金流 - 资本支出 | $389.0M | $43.1M |
| 自由现金流率自由现金流/营收 | 43.8% | 6.5% |
| 资本支出强度资本支出/营收 | 0.8% | 12.6% |
| 现金转化率经营现金流/净利润 | 1.52× | 1.62× |
| 过去12个月自由现金流最近4个季度 | $595.0M | $-29.5M |
8季度趋势，按日历期对齐
经营现金流FHNLITE
| Q4 25 | $396.0M | $126.7M | ||
| Q3 25 | $-200.0M | $57.9M | ||
| Q2 25 | $83.0M | $64.0M | ||
| Q1 25 | $349.0M | $-1.6M | ||
| Q4 24 | $191.0M | $24.3M | ||
| Q3 24 | $389.0M | $39.6M | ||
| Q2 24 | — | $35.5M | ||
| Q1 24 | $838.0M | $-7.0M |
自由现金流FHNLITE
| Q4 25 | $389.0M | $43.1M | ||
| Q3 25 | $-208.0M | $-18.3M | ||
| Q2 25 | $74.0M | $10.1M | ||
| Q1 25 | $340.0M | $-64.4M | ||
| Q4 24 | $174.0M | $-15.9M | ||
| Q3 24 | $383.0M | $-34.5M | ||
| Q2 24 | — | $10.9M | ||
| Q1 24 | $828.0M | $-26.6M |
自由现金流率FHNLITE
| Q4 25 | 43.8% | 6.5% | ||
| Q3 25 | -23.4% | -3.4% | ||
| Q2 25 | 8.9% | 2.1% | ||
| Q1 25 | 41.9% | -15.1% | ||
| Q4 24 | 23.9% | -4.0% | ||
| Q3 24 | 46.3% | -10.2% | ||
| Q2 24 | — | 3.5% | ||
| Q1 24 | 101.1% | -7.3% |
资本支出强度FHNLITE
| Q4 25 | 0.8% | 12.6% | ||
| Q3 25 | 0.9% | 14.3% | ||
| Q2 25 | 1.1% | 11.2% | ||
| Q1 25 | 1.1% | 14.8% | ||
| Q4 24 | 2.3% | 10.0% | ||
| Q3 24 | 0.7% | 22.0% | ||
| Q2 24 | — | 8.0% | ||
| Q1 24 | 1.2% | 5.3% |
现金转化率FHNLITE
| Q4 25 | 1.52× | 1.62× | ||
| Q3 25 | -0.76× | 13.79× | ||
| Q2 25 | 0.34× | 0.30× | ||
| Q1 25 | 1.60× | — | ||
| Q4 24 | 1.15× | — | ||
| Q3 24 | 1.78× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 4.36× | — |
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% |
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
