vs
FIRST HORIZON CORP（FHN）与Reddit, Inc.（RDDT）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Reddit, Inc.的1.2倍（$888.0M vs $725.6M），Reddit, Inc.净利率更高（34.7% vs 29.4%，领先5.3%），Reddit, Inc.同比增速更快（69.7% vs 21.8%），FIRST HORIZON CORP自由现金流更多（$389.0M vs $263.6M），过去两年Reddit, Inc.的营收复合增速更高（72.8% 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。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
FHN vs RDDT — 直观对比
营收规模更大
FHN
是对方的1.2倍
$725.6M
营收增速更快
RDDT
高出47.8%
21.8%
净利率更高
RDDT
高出5.3%
29.4%
自由现金流更多
FHN
多$125.4M
$263.6M
两年增速更快
RDDT
近两年复合增速
20.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $888.0M | $725.6M |
| 净利润 | $261.0M | $251.6M |
| 毛利率 | — | 91.9% |
| 营业利润率 | 38.5% | 31.9% |
| 净利率 | 29.4% | 34.7% |
| 营收同比 | 21.8% | 69.7% |
| 净利润同比 | 57.2% | 254.2% |
| 每股收益（稀释后） | $0.51 | $1.24 |
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FHNRDDT
| Q4 25 | $888.0M | $725.6M | ||
| Q3 25 | $889.0M | $584.9M | ||
| Q2 25 | $830.0M | $499.6M | ||
| Q1 25 | $812.0M | $392.4M | ||
| Q4 24 | $729.0M | $427.7M | ||
| Q3 24 | $827.0M | $348.4M | ||
| Q2 24 | — | $281.2M | ||
| Q1 24 | $819.0M | $243.0M |
净利润FHNRDDT
| Q4 25 | $261.0M | $251.6M | ||
| Q3 25 | $262.0M | $162.7M | ||
| Q2 25 | $241.0M | $89.3M | ||
| Q1 25 | $218.0M | $26.2M | ||
| Q4 24 | $166.0M | $71.0M | ||
| Q3 24 | $218.0M | $29.9M | ||
| Q2 24 | — | $-10.1M | ||
| Q1 24 | $192.0M | $-575.1M |
毛利率FHNRDDT
| Q4 25 | — | 91.9% | ||
| Q3 25 | — | 91.0% | ||
| Q2 25 | — | 90.8% | ||
| Q1 25 | — | 90.5% | ||
| Q4 24 | — | 92.6% | ||
| Q3 24 | — | 90.1% | ||
| Q2 24 | — | 89.5% | ||
| Q1 24 | — | 88.6% |
营业利润率FHNRDDT
| Q4 25 | 38.5% | 31.9% | ||
| Q3 25 | 38.7% | 23.7% | ||
| Q2 25 | 37.2% | 13.6% | ||
| Q1 25 | 35.1% | 1.0% | ||
| Q4 24 | 28.8% | 12.4% | ||
| Q3 24 | 34.0% | 2.0% | ||
| Q2 24 | — | -11.0% | ||
| Q1 24 | 31.0% | -242.5% |
净利率FHNRDDT
| Q4 25 | 29.4% | 34.7% | ||
| Q3 25 | 29.5% | 27.8% | ||
| Q2 25 | 29.0% | 17.9% | ||
| Q1 25 | 26.8% | 6.7% | ||
| Q4 24 | 22.8% | 16.6% | ||
| Q3 24 | 26.4% | 8.6% | ||
| Q2 24 | — | -3.6% | ||
| Q1 24 | 23.4% | -236.7% |
每股收益（稀释后）FHNRDDT
| Q4 25 | $0.51 | $1.24 | ||
| Q3 25 | $0.50 | $0.80 | ||
| Q2 25 | $0.45 | $0.45 | ||
| Q1 25 | $0.41 | $0.13 | ||
| Q4 24 | $0.29 | $4.76 | ||
| Q3 24 | $0.40 | $0.16 | ||
| Q2 24 | — | $-0.06 | ||
| Q1 24 | $0.33 | $-8.19 |
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 | — | $953.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.8B | $2.9B |
| 总资产 | $83.9B | $3.2B |
| 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FHNRDDT
| Q4 25 | — | $953.6M | ||
| Q3 25 | — | $911.7M | ||
| Q2 25 | — | $734.1M | ||
| Q1 25 | — | $635.7M | ||
| Q4 24 | — | $562.1M | ||
| Q3 24 | — | $515.9M | ||
| Q2 24 | — | $468.0M | ||
| Q1 24 | — | $968.5M |
股东权益FHNRDDT
| Q4 25 | $8.8B | $2.9B | ||
| Q3 25 | $8.9B | $2.6B | ||
| Q2 25 | $9.0B | $2.4B | ||
| Q1 25 | $8.7B | $2.2B | ||
| Q4 24 | $8.8B | $2.1B | ||
| Q3 24 | $9.0B | $2.0B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | $8.9B | $1.8B |
总资产FHNRDDT
| Q4 25 | $83.9B | $3.2B | ||
| Q3 25 | $83.2B | $2.9B | ||
| Q2 25 | $82.1B | $2.6B | ||
| Q1 25 | $81.5B | $2.4B | ||
| Q4 24 | $82.2B | $2.3B | ||
| Q3 24 | $82.6B | $2.2B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | $81.8B | $2.0B |
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 | $266.8M |
| 自由现金流经营现金流 - 资本支出 | $389.0M | $263.6M |
| 自由现金流率自由现金流/营收 | 43.8% | 36.3% |
| 资本支出强度资本支出/营收 | 0.8% | 0.4% |
| 现金转化率经营现金流/净利润 | 1.52× | 1.06× |
| 过去12个月自由现金流最近4个季度 | $595.0M | $684.2M |
8季度趋势，按日历期对齐
经营现金流FHNRDDT
| Q4 25 | $396.0M | $266.8M | ||
| Q3 25 | $-200.0M | $185.2M | ||
| Q2 25 | $83.0M | $111.3M | ||
| Q1 25 | $349.0M | $127.6M | ||
| Q4 24 | $191.0M | $90.0M | ||
| Q3 24 | $389.0M | $71.6M | ||
| Q2 24 | — | $28.4M | ||
| Q1 24 | $838.0M | $32.1M |
自由现金流FHNRDDT
| Q4 25 | $389.0M | $263.6M | ||
| Q3 25 | $-208.0M | $183.1M | ||
| Q2 25 | $74.0M | $110.8M | ||
| Q1 25 | $340.0M | $126.6M | ||
| Q4 24 | $174.0M | $89.2M | ||
| Q3 24 | $383.0M | $70.3M | ||
| Q2 24 | — | $27.2M | ||
| Q1 24 | $828.0M | $29.2M |
自由现金流率FHNRDDT
| Q4 25 | 43.8% | 36.3% | ||
| Q3 25 | -23.4% | 31.3% | ||
| Q2 25 | 8.9% | 22.2% | ||
| Q1 25 | 41.9% | 32.3% | ||
| Q4 24 | 23.9% | 20.8% | ||
| Q3 24 | 46.3% | 20.2% | ||
| Q2 24 | — | 9.7% | ||
| Q1 24 | 101.1% | 12.0% |
资本支出强度FHNRDDT
| Q4 25 | 0.8% | 0.4% | ||
| Q3 25 | 0.9% | 0.4% | ||
| Q2 25 | 1.1% | 0.1% | ||
| Q1 25 | 1.1% | 0.2% | ||
| Q4 24 | 2.3% | 0.2% | ||
| Q3 24 | 0.7% | 0.4% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | 1.2% | 1.2% |
现金转化率FHNRDDT
| Q4 25 | 1.52× | 1.06× | ||
| Q3 25 | -0.76× | 1.14× | ||
| Q2 25 | 0.34× | 1.25× | ||
| Q1 25 | 1.60× | 4.88× | ||
| Q4 24 | 1.15× | 1.27× | ||
| Q3 24 | 1.78× | 2.40× | ||
| 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% |
RDDT
| Advertising | $689.7M | 95% |
| Other Revenue | $35.9M | 5% |
