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FIRST HORIZON CORP（FHN）与摩丁制造（MOD）财务数据对比。点击上方公司名可切换其他公司
FIRST HORIZON CORP的季度营收约是摩丁制造的1.1倍（$888.0M vs $805.0M），FIRST HORIZON CORP净利率更高（29.4% vs -5.9%，领先35.3%），摩丁制造同比增速更快（30.5% vs 21.8%），FIRST HORIZON CORP自由现金流更多（$389.0M vs $-17.1M），过去两年FIRST HORIZON CORP的营收复合增速更高（20.0% vs 15.5%）
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。
摩丁制造是1916年成立于美国的热管理企业。创始人亚瑟·B·摩丁获拖拉机Spirex散热器专利后创立公司，曾为福特T型车生产Turbotube散热器，1941年在威斯康星州拉辛建成全球首个车用风洞，二战期间为P-51野马战斗机供应后冷却器。
FHN vs MOD — 直观对比
营收规模更大
FHN
是对方的1.1倍
$805.0M
营收增速更快
MOD
高出8.7%
21.8%
净利率更高
FHN
高出35.3%
-5.9%
自由现金流更多
FHN
多$406.1M
$-17.1M
两年增速更快
FHN
近两年复合增速
15.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $888.0M | $805.0M |
| 净利润 | $261.0M | $-47.4M |
| 毛利率 | — | 23.1% |
| 营业利润率 | 38.5% | 11.1% |
| 净利率 | 29.4% | -5.9% |
| 营收同比 | 21.8% | 30.5% |
| 净利润同比 | 57.2% | -215.6% |
| 每股收益（稀释后） | $0.51 | $-0.90 |
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FHNMOD
| Q4 25 | $888.0M | $805.0M | ||
| Q3 25 | $889.0M | $738.9M | ||
| Q2 25 | $830.0M | $682.8M | ||
| Q1 25 | $812.0M | $647.2M | ||
| Q4 24 | $729.0M | $616.8M | ||
| Q3 24 | $827.0M | $658.0M | ||
| Q2 24 | — | $661.5M | ||
| Q1 24 | $819.0M | $603.5M |
净利润FHNMOD
| Q4 25 | $261.0M | $-47.4M | ||
| Q3 25 | $262.0M | $44.4M | ||
| Q2 25 | $241.0M | $51.2M | ||
| Q1 25 | $218.0M | $49.6M | ||
| Q4 24 | $166.0M | $41.0M | ||
| Q3 24 | $218.0M | $46.1M | ||
| Q2 24 | — | $47.3M | ||
| Q1 24 | $192.0M | $25.8M |
毛利率FHNMOD
| Q4 25 | — | 23.1% | ||
| Q3 25 | — | 22.3% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | — | 25.6% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | — | 25.2% | ||
| Q2 24 | — | 24.6% | ||
| Q1 24 | — | 22.4% |
营业利润率FHNMOD
| Q4 25 | 38.5% | 11.1% | ||
| Q3 25 | 38.7% | 9.9% | ||
| Q2 25 | 37.2% | 11.1% | ||
| Q1 25 | 35.1% | 11.5% | ||
| Q4 24 | 28.8% | 9.6% | ||
| Q3 24 | 34.0% | 11.4% | ||
| Q2 24 | — | 11.2% | ||
| Q1 24 | 31.0% | 7.8% |
净利率FHNMOD
| Q4 25 | 29.4% | -5.9% | ||
| Q3 25 | 29.5% | 6.0% | ||
| Q2 25 | 29.0% | 7.5% | ||
| Q1 25 | 26.8% | 7.7% | ||
| Q4 24 | 22.8% | 6.6% | ||
| Q3 24 | 26.4% | 7.0% | ||
| Q2 24 | — | 7.2% | ||
| Q1 24 | 23.4% | 4.3% |
每股收益（稀释后）FHNMOD
| Q4 25 | $0.51 | $-0.90 | ||
| Q3 25 | $0.50 | $0.83 | ||
| Q2 25 | $0.45 | $0.95 | ||
| Q1 25 | $0.41 | $0.92 | ||
| Q4 24 | $0.29 | $0.76 | ||
| Q3 24 | $0.40 | $0.86 | ||
| Q2 24 | — | $0.88 | ||
| Q1 24 | $0.33 | $0.48 |
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 | — | $98.7M |
| 总债务越低越好 | — | $570.7M |
| 股东权益账面价值 | $8.8B | $1.1B |
| 总资产 | $83.9B | $2.5B |
| 负债/权益比越低杠杆越低 | — | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资FHNMOD
| Q4 25 | — | $98.7M | ||
| Q3 25 | — | $83.8M | ||
| Q2 25 | — | $124.5M | ||
| Q1 25 | — | $71.6M | ||
| Q4 24 | — | $83.8M | ||
| Q3 24 | — | $78.6M | ||
| Q2 24 | — | $72.9M | ||
| Q1 24 | — | $60.1M |
总债务FHNMOD
| Q4 25 | — | $570.7M | ||
| Q3 25 | — | $525.8M | ||
| Q2 25 | — | $482.1M | ||
| Q1 25 | — | $296.7M | ||
| Q4 24 | — | $330.0M | ||
| Q3 24 | — | $359.1M | ||
| Q2 24 | — | $405.7M | ||
| Q1 24 | — | $399.9M |
股东权益FHNMOD
| Q4 25 | $8.8B | $1.1B | ||
| Q3 25 | $8.9B | $1.1B | ||
| Q2 25 | $9.0B | $1.0B | ||
| Q1 25 | $8.7B | $910.2M | ||
| Q4 24 | $8.8B | $855.1M | ||
| Q3 24 | $9.0B | $858.8M | ||
| Q2 24 | — | $788.4M | ||
| Q1 24 | $8.9B | $747.6M |
总资产FHNMOD
| Q4 25 | $83.9B | $2.5B | ||
| Q3 25 | $83.2B | $2.4B | ||
| Q2 25 | $82.1B | $2.2B | ||
| Q1 25 | $81.5B | $1.9B | ||
| Q4 24 | $82.2B | $1.8B | ||
| Q3 24 | $82.6B | $1.9B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | $81.8B | $1.9B |
负债/权益比FHNMOD
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | 0.50× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | — | 0.51× | ||
| Q1 24 | — | 0.53× |
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 | $24.7M |
| 自由现金流经营现金流 - 资本支出 | $389.0M | $-17.1M |
| 自由现金流率自由现金流/营收 | 43.8% | -2.1% |
| 资本支出强度资本支出/营收 | 0.8% | 5.2% |
| 现金转化率经营现金流/净利润 | 1.52× | — |
| 过去12个月自由现金流最近4个季度 | $595.0M | $-20.3M |
8季度趋势，按日历期对齐
经营现金流FHNMOD
| Q4 25 | $396.0M | $24.7M | ||
| Q3 25 | $-200.0M | $1.4M | ||
| Q2 25 | $83.0M | $27.7M | ||
| Q1 25 | $349.0M | $54.8M | ||
| Q4 24 | $191.0M | $60.7M | ||
| Q3 24 | $389.0M | $57.3M | ||
| Q2 24 | — | $40.5M | ||
| Q1 24 | $838.0M | $39.6M |
自由现金流FHNMOD
| Q4 25 | $389.0M | $-17.1M | ||
| Q3 25 | $-208.0M | $-30.5M | ||
| Q2 25 | $74.0M | $200.0K | ||
| Q1 25 | $340.0M | $27.1M | ||
| Q4 24 | $174.0M | $44.7M | ||
| Q3 24 | $383.0M | $43.8M | ||
| Q2 24 | — | $13.7M | ||
| Q1 24 | $828.0M | $-4.3M |
自由现金流率FHNMOD
| Q4 25 | 43.8% | -2.1% | ||
| Q3 25 | -23.4% | -4.1% | ||
| Q2 25 | 8.9% | 0.0% | ||
| Q1 25 | 41.9% | 4.2% | ||
| Q4 24 | 23.9% | 7.2% | ||
| Q3 24 | 46.3% | 6.7% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | 101.1% | -0.7% |
资本支出强度FHNMOD
| Q4 25 | 0.8% | 5.2% | ||
| Q3 25 | 0.9% | 4.3% | ||
| Q2 25 | 1.1% | 4.0% | ||
| Q1 25 | 1.1% | 4.3% | ||
| Q4 24 | 2.3% | 2.6% | ||
| Q3 24 | 0.7% | 2.1% | ||
| Q2 24 | — | 4.1% | ||
| Q1 24 | 1.2% | 7.3% |
现金转化率FHNMOD
| Q4 25 | 1.52× | — | ||
| Q3 25 | -0.76× | 0.03× | ||
| Q2 25 | 0.34× | 0.54× | ||
| Q1 25 | 1.60× | 1.10× | ||
| Q4 24 | 1.15× | 1.48× | ||
| Q3 24 | 1.78× | 1.24× | ||
| Q2 24 | — | 0.86× | ||
| Q1 24 | 4.36× | 1.53× |
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% |
MOD
| Data Centers | $296.9M | 37% |
| Performance Technologies | $266.0M | 33% |
| Hvac Technologies | $107.1M | 13% |
| Air Cooled | $92.4M | 11% |
| Lb White | $25.6M | 3% |
| Climate By Design | $10.2M | 1% |
| Absolutaire | $7.0M | 1% |
