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FIRST HORIZON CORP（FHN）与PTC Inc.（PTC）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PTC Inc.的1.3倍（$888.0M vs $685.8M），FIRST HORIZON CORP净利率更高（29.4% vs 24.3%，领先5.1%），FIRST HORIZON CORP同比增速更快（21.8% vs 21.4%），FIRST HORIZON CORP自由现金流更多（$389.0M vs $267.4M），过去两年FIRST HORIZON CORP的营收复合增速更高（20.0% vs 6.6%）
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。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
FHN vs PTC — 直观对比
营收规模更大
FHN
是对方的1.3倍
$685.8M
营收增速更快
FHN
高出0.5%
21.4%
净利率更高
FHN
高出5.1%
24.3%
自由现金流更多
FHN
多$121.6M
$267.4M
两年增速更快
FHN
近两年复合增速
6.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $888.0M | $685.8M |
| 净利润 | $261.0M | $166.5M |
| 毛利率 | — | 82.8% |
| 营业利润率 | 38.5% | 32.2% |
| 净利率 | 29.4% | 24.3% |
| 营收同比 | 21.8% | 21.4% |
| 净利润同比 | 57.2% | 102.5% |
| 每股收益（稀释后） | $0.51 | $1.39 |
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FHNPTC
| Q4 25 | $888.0M | $685.8M | ||
| Q3 25 | $889.0M | $893.8M | ||
| Q2 25 | $830.0M | $643.9M | ||
| Q1 25 | $812.0M | $636.4M | ||
| Q4 24 | $729.0M | $565.1M | ||
| Q3 24 | $827.0M | $626.5M | ||
| Q2 24 | — | $518.6M | ||
| Q1 24 | $819.0M | $603.1M |
净利润FHNPTC
| Q4 25 | $261.0M | $166.5M | ||
| Q3 25 | $262.0M | $347.8M | ||
| Q2 25 | $241.0M | $141.3M | ||
| Q1 25 | $218.0M | $162.6M | ||
| Q4 24 | $166.0M | $82.2M | ||
| Q3 24 | $218.0M | $126.5M | ||
| Q2 24 | — | $69.0M | ||
| Q1 24 | $192.0M | $114.4M |
毛利率FHNPTC
| Q4 25 | — | 82.8% | ||
| Q3 25 | — | 86.9% | ||
| Q2 25 | — | 82.9% | ||
| Q1 25 | — | 83.3% | ||
| Q4 24 | — | 80.2% | ||
| Q3 24 | — | 82.0% | ||
| Q2 24 | — | 78.4% | ||
| Q1 24 | — | 81.8% |
营业利润率FHNPTC
| Q4 25 | 38.5% | 32.2% | ||
| Q3 25 | 38.7% | 48.5% | ||
| Q2 25 | 37.2% | 32.6% | ||
| Q1 25 | 35.1% | 35.1% | ||
| Q4 24 | 28.8% | 20.4% | ||
| Q3 24 | 34.0% | 31.0% | ||
| Q2 24 | — | 18.5% | ||
| Q1 24 | 31.0% | 29.8% |
净利率FHNPTC
| Q4 25 | 29.4% | 24.3% | ||
| Q3 25 | 29.5% | 38.9% | ||
| Q2 25 | 29.0% | 21.9% | ||
| Q1 25 | 26.8% | 25.6% | ||
| Q4 24 | 22.8% | 14.6% | ||
| Q3 24 | 26.4% | 20.2% | ||
| Q2 24 | — | 13.3% | ||
| Q1 24 | 23.4% | 19.0% |
每股收益（稀释后）FHNPTC
| Q4 25 | $0.51 | $1.39 | ||
| Q3 25 | $0.50 | $2.88 | ||
| Q2 25 | $0.45 | $1.17 | ||
| Q1 25 | $0.41 | $1.35 | ||
| Q4 24 | $0.29 | $0.68 | ||
| Q3 24 | $0.40 | $1.05 | ||
| Q2 24 | — | $0.57 | ||
| Q1 24 | $0.33 | $0.95 |
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 | — | $209.7M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $8.8B | $3.8B |
| 总资产 | $83.9B | $6.4B |
| 负债/权益比越低杠杆越低 | — | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资FHNPTC
| Q4 25 | — | $209.7M | ||
| Q3 25 | — | $184.4M | ||
| Q2 25 | — | $199.3M | ||
| Q1 25 | — | $235.2M | ||
| Q4 24 | — | $196.3M | ||
| Q3 24 | — | $265.8M | ||
| Q2 24 | — | $247.7M | ||
| Q1 24 | — | $249.0M |
总债务FHNPTC
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.5B |
股东权益FHNPTC
| Q4 25 | $8.8B | $3.8B | ||
| Q3 25 | $8.9B | $3.8B | ||
| Q2 25 | $9.0B | $3.5B | ||
| Q1 25 | $8.7B | $3.4B | ||
| Q4 24 | $8.8B | $3.2B | ||
| Q3 24 | $9.0B | $3.2B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | $8.9B | $2.9B |
总资产FHNPTC
| Q4 25 | $83.9B | $6.4B | ||
| Q3 25 | $83.2B | $6.6B | ||
| Q2 25 | $82.1B | $6.2B | ||
| Q1 25 | $81.5B | $6.2B | ||
| Q4 24 | $82.2B | $6.1B | ||
| Q3 24 | $82.6B | $6.4B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | $81.8B | $6.2B |
负债/权益比FHNPTC
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.43× | ||
| Q1 24 | — | 0.51× |
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 | $269.7M |
| 自由现金流经营现金流 - 资本支出 | $389.0M | $267.4M |
| 自由现金流率自由现金流/营收 | 43.8% | 39.0% |
| 资本支出强度资本支出/营收 | 0.8% | 0.3% |
| 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 | $888.4M |
8季度趋势，按日历期对齐
经营现金流FHNPTC
| Q4 25 | $396.0M | $269.7M | ||
| Q3 25 | $-200.0M | $104.0M | ||
| Q2 25 | $83.0M | $243.9M | ||
| Q1 25 | $349.0M | $281.3M | ||
| Q4 24 | $191.0M | $238.4M | ||
| Q3 24 | $389.0M | $98.1M | ||
| Q2 24 | — | $213.8M | ||
| Q1 24 | $838.0M | $250.7M |
自由现金流FHNPTC
| Q4 25 | $389.0M | $267.4M | ||
| Q3 25 | $-208.0M | $100.5M | ||
| Q2 25 | $74.0M | $242.0M | ||
| Q1 25 | $340.0M | $278.5M | ||
| Q4 24 | $174.0M | $235.7M | ||
| Q3 24 | $383.0M | $93.6M | ||
| Q2 24 | — | $212.2M | ||
| Q1 24 | $828.0M | $247.1M |
自由现金流率FHNPTC
| Q4 25 | 43.8% | 39.0% | ||
| Q3 25 | -23.4% | 11.2% | ||
| Q2 25 | 8.9% | 37.6% | ||
| Q1 25 | 41.9% | 43.8% | ||
| Q4 24 | 23.9% | 41.7% | ||
| Q3 24 | 46.3% | 14.9% | ||
| Q2 24 | — | 40.9% | ||
| Q1 24 | 101.1% | 41.0% |
资本支出强度FHNPTC
| Q4 25 | 0.8% | 0.3% | ||
| Q3 25 | 0.9% | 0.4% | ||
| Q2 25 | 1.1% | 0.3% | ||
| Q1 25 | 1.1% | 0.4% | ||
| Q4 24 | 2.3% | 0.5% | ||
| Q3 24 | 0.7% | 0.7% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | 1.2% | 0.6% |
现金转化率FHNPTC
| Q4 25 | 1.52× | 1.62× | ||
| Q3 25 | -0.76× | 0.30× | ||
| Q2 25 | 0.34× | 1.73× | ||
| Q1 25 | 1.60× | 1.73× | ||
| Q4 24 | 1.15× | 2.90× | ||
| Q3 24 | 1.78× | 0.78× | ||
| Q2 24 | — | 3.10× | ||
| Q1 24 | 4.36× | 2.19× |
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% |
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
