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FIRST HORIZON CORP（FHN）与RUSH ENTERPRISES INC \TX\（RUSHA）财务数据对比。点击上方公司名可切换其他公司
RUSH ENTERPRISES INC \TX\的季度营收约是FIRST HORIZON CORP的1.9倍（$1.7B vs $888.0M），FIRST HORIZON CORP净利率更高（29.4% vs 3.7%，领先25.7%），FIRST HORIZON CORP同比增速更快（21.8% vs -9.0%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $389.0M），过去两年FIRST HORIZON CORP的营收复合增速更高（20.0% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
FHN vs RUSHA — 直观对比
营收规模更大
RUSHA
是对方的1.9倍
$888.0M
营收增速更快
FHN
高出30.8%
-9.0%
净利率更高
FHN
高出25.7%
3.7%
自由现金流更多
RUSHA
多$22.6M
$389.0M
两年增速更快
FHN
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $888.0M | $1.7B |
| 净利润 | $261.0M | $61.7M |
| 毛利率 | — | 20.4% |
| 营业利润率 | 38.5% | 4.9% |
| 净利率 | 29.4% | 3.7% |
| 营收同比 | 21.8% | -9.0% |
| 净利润同比 | 57.2% | 1.8% |
| 每股收益（稀释后） | $0.51 | $0.77 |
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FHNRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $888.0M | $1.7B | ||
| Q3 25 | $889.0M | $1.8B | ||
| Q2 25 | $830.0M | $1.8B | ||
| Q1 25 | $812.0M | $1.8B | ||
| Q4 24 | $729.0M | $1.9B | ||
| Q3 24 | $827.0M | $1.8B | ||
| Q2 24 | — | $1.9B |
净利润FHNRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $261.0M | $64.3M | ||
| Q3 25 | $262.0M | $66.7M | ||
| Q2 25 | $241.0M | $72.4M | ||
| Q1 25 | $218.0M | $60.3M | ||
| Q4 24 | $166.0M | $74.8M | ||
| Q3 24 | $218.0M | $79.1M | ||
| Q2 24 | — | $78.7M |
毛利率FHNRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | — | 20.8% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 20.7% | ||
| Q1 25 | — | 20.3% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | 20.2% |
营业利润率FHNRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 38.5% | 5.5% | ||
| Q3 25 | 38.7% | 5.6% | ||
| Q2 25 | 37.2% | 6.0% | ||
| Q1 25 | 35.1% | 5.2% | ||
| Q4 24 | 28.8% | 5.8% | ||
| Q3 24 | 34.0% | 6.7% | ||
| Q2 24 | — | 6.4% |
净利率FHNRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 29.4% | 3.8% | ||
| Q3 25 | 29.5% | 3.7% | ||
| Q2 25 | 29.0% | 3.9% | ||
| Q1 25 | 26.8% | 3.4% | ||
| Q4 24 | 22.8% | 3.9% | ||
| Q3 24 | 26.4% | 4.4% | ||
| Q2 24 | — | 4.1% |
每股收益（稀释后）FHNRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $0.51 | $0.81 | ||
| Q3 25 | $0.50 | $0.83 | ||
| Q2 25 | $0.45 | $0.90 | ||
| Q1 25 | $0.41 | $0.73 | ||
| Q4 24 | $0.29 | $-95.13 | ||
| Q3 24 | $0.40 | $0.97 | ||
| Q2 24 | — | $97.00 |
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 | — | — |
| 总债务越低越好 | — | $277.8M |
| 股东权益账面价值 | $8.8B | $2.3B |
| 总资产 | $83.9B | $4.5B |
| 负债/权益比越低杠杆越低 | — | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资FHNRUSHA
| Q1 26 | — | — | ||
| Q4 25 | — | $212.6M | ||
| Q3 25 | — | $242.0M | ||
| Q2 25 | — | $211.1M | ||
| Q1 25 | — | $228.7M | ||
| Q4 24 | — | $228.1M | ||
| Q3 24 | — | $185.1M | ||
| Q2 24 | — | $167.3M |
总债务FHNRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | — | $274.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $408.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FHNRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $8.8B | $2.2B | ||
| Q3 25 | $8.9B | $2.2B | ||
| Q2 25 | $9.0B | $2.2B | ||
| Q1 25 | $8.7B | $2.2B | ||
| Q4 24 | $8.8B | $2.1B | ||
| Q3 24 | $9.0B | $2.1B | ||
| Q2 24 | — | $2.0B |
总资产FHNRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $83.9B | $4.4B | ||
| Q3 25 | $83.2B | $4.6B | ||
| Q2 25 | $82.1B | $4.7B | ||
| Q1 25 | $81.5B | $4.7B | ||
| Q4 24 | $82.2B | $4.6B | ||
| Q3 24 | $82.6B | $4.6B | ||
| Q2 24 | — | $4.5B |
负债/权益比FHNRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $389.0M | $411.6M |
| 自由现金流率自由现金流/营收 | 43.8% | 24.4% |
| 资本支出强度资本支出/营收 | 0.8% | 2.0% |
| 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 | $828.4M |
8季度趋势，按日历期对齐
经营现金流FHNRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $396.0M | $112.9M | ||
| Q3 25 | $-200.0M | $367.8M | ||
| Q2 25 | $83.0M | $227.6M | ||
| Q1 25 | $349.0M | $153.5M | ||
| Q4 24 | $191.0M | $392.3M | ||
| Q3 24 | $389.0M | $111.7M | ||
| Q2 24 | — | $270.6M |
自由现金流FHNRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $389.0M | $31.9M | ||
| Q3 25 | $-208.0M | $271.2M | ||
| Q2 25 | $74.0M | $113.8M | ||
| Q1 25 | $340.0M | $45.1M | ||
| Q4 24 | $174.0M | $263.5M | ||
| Q3 24 | $383.0M | $-20.0M | ||
| Q2 24 | — | $177.2M |
自由现金流率FHNRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 43.8% | 1.9% | ||
| Q3 25 | -23.4% | 15.2% | ||
| Q2 25 | 8.9% | 6.2% | ||
| Q1 25 | 41.9% | 2.6% | ||
| Q4 24 | 23.9% | 13.7% | ||
| Q3 24 | 46.3% | -1.1% | ||
| Q2 24 | — | 9.1% |
资本支出强度FHNRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 0.8% | 4.8% | ||
| Q3 25 | 0.9% | 5.4% | ||
| Q2 25 | 1.1% | 6.2% | ||
| Q1 25 | 1.1% | 6.2% | ||
| Q4 24 | 2.3% | 6.7% | ||
| Q3 24 | 0.7% | 7.3% | ||
| Q2 24 | — | 4.8% |
现金转化率FHNRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 1.52× | 1.75× | ||
| Q3 25 | -0.76× | 5.51× | ||
| Q2 25 | 0.34× | 3.14× | ||
| Q1 25 | 1.60× | 2.55× | ||
| Q4 24 | 1.15× | 5.25× | ||
| Q3 24 | 1.78× | 1.41× | ||
| Q2 24 | — | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
