vs
Fabrinet（FN）与格罗方德（GFS）财务数据对比。点击上方公司名可切换其他公司
格罗方德的季度营收约是Fabrinet的1.5倍（$1.7B vs $1.1B），格罗方德净利率更高（14.8% vs 9.9%，领先4.8%），Fabrinet同比增速更快（35.9% vs -2.9%），过去两年Fabrinet的营收复合增速更高（24.4% vs -4.3%）
Fabrinet（股票代码FN）为标普中型股400指数成分股。该指数由标普道琼斯指数公司维护，覆盖400家以美企为主的中等市值企业，若成分企业存在多类流通股，指数的成分股总量有时会超过400只。
格罗方德是跨国半导体代工及设计企业，注册地为开曼群岛，总部位于美国纽约州马耳他。公司2009年3月由AMD制造业务分拆成立，2021年10月完成首次公开募股，阿联酋主权财富基金穆巴达拉投资公司目前仍持有其82%的多数股权。
FN vs GFS — 直观对比
营收规模更大
GFS
是对方的1.5倍
$1.1B
营收增速更快
FN
高出38.8%
-2.9%
净利率更高
GFS
高出4.8%
9.9%
两年增速更快
FN
近两年复合增速
-4.3%
损益表 — Q2 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.7B |
| 净利润 | $112.6M | $249.0M |
| 毛利率 | 12.2% | 24.8% |
| 营业利润率 | 10.1% | 11.6% |
| 净利率 | 9.9% | 14.8% |
| 营收同比 | 35.9% | -2.9% |
| 净利润同比 | 30.0% | 39.9% |
| 每股收益（稀释后） | $3.11 | $0.44 |
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FNGFS
| Q4 25 | $1.1B | — | ||
| Q3 25 | $978.1M | $1.7B | ||
| Q2 25 | $909.7M | $1.7B | ||
| Q1 25 | $871.8M | $1.6B | ||
| Q4 24 | $833.6M | — | ||
| Q3 24 | $804.2M | $1.7B | ||
| Q2 24 | $753.3M | $1.6B | ||
| Q1 24 | $731.5M | $1.5B |
净利润FNGFS
| Q4 25 | $112.6M | — | ||
| Q3 25 | $95.9M | $249.0M | ||
| Q2 25 | $87.2M | $228.0M | ||
| Q1 25 | $81.3M | $211.0M | ||
| Q4 24 | $86.6M | — | ||
| Q3 24 | $77.4M | $178.0M | ||
| Q2 24 | $81.1M | $155.0M | ||
| Q1 24 | $80.9M | $134.0M |
毛利率FNGFS
| Q4 25 | 12.2% | — | ||
| Q3 25 | 11.9% | 24.8% | ||
| Q2 25 | 12.2% | 24.2% | ||
| Q1 25 | 11.7% | 22.4% | ||
| Q4 24 | 12.1% | — | ||
| Q3 24 | 12.3% | 23.8% | ||
| Q2 24 | 12.3% | 24.2% | ||
| Q1 24 | 12.4% | 25.4% |
营业利润率FNGFS
| Q4 25 | 10.1% | — | ||
| Q3 25 | 9.6% | 11.6% | ||
| Q2 25 | 9.8% | 11.6% | ||
| Q1 25 | 9.0% | 9.5% | ||
| Q4 24 | 9.5% | — | ||
| Q3 24 | 9.6% | 10.6% | ||
| Q2 24 | 9.7% | 9.5% | ||
| Q1 24 | 9.7% | 9.5% |
净利率FNGFS
| Q4 25 | 9.9% | — | ||
| Q3 25 | 9.8% | 14.8% | ||
| Q2 25 | 9.6% | 13.5% | ||
| Q1 25 | 9.3% | 13.3% | ||
| Q4 24 | 10.4% | — | ||
| Q3 24 | 9.6% | 10.2% | ||
| Q2 24 | 10.8% | 9.5% | ||
| Q1 24 | 11.1% | 8.7% |
每股收益（稀释后）FNGFS
| Q4 25 | $3.11 | — | ||
| Q3 25 | $2.66 | $0.44 | ||
| Q2 25 | $2.41 | $0.41 | ||
| Q1 25 | $2.25 | $0.38 | ||
| Q4 24 | $2.38 | — | ||
| Q3 24 | $2.13 | $0.32 | ||
| Q2 24 | $2.22 | $0.28 | ||
| Q1 24 | $2.21 | $0.24 |
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 | $960.8M | $2.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.2B | $11.8B |
| 总资产 | $3.3B | $16.7B |
| 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FNGFS
| Q4 25 | $960.8M | — | ||
| Q3 25 | $968.8M | $2.0B | ||
| Q2 25 | $934.2M | $1.8B | ||
| Q1 25 | $950.7M | $1.6B | ||
| Q4 24 | $934.6M | — | ||
| Q3 24 | $908.9M | $2.3B | ||
| Q2 24 | $858.6M | $2.2B | ||
| Q1 24 | $794.0M | $2.2B |
股东权益FNGFS
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.1B | $11.8B | ||
| Q2 25 | $2.0B | $11.5B | ||
| Q1 25 | $1.9B | $11.1B | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | $11.6B | ||
| Q2 24 | $1.7B | $11.3B | ||
| Q1 24 | $1.7B | $11.3B |
总资产FNGFS
| Q4 25 | $3.3B | — | ||
| Q3 25 | $3.0B | $16.7B | ||
| Q2 25 | $2.8B | $16.8B | ||
| Q1 25 | $2.6B | $16.5B | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $2.4B | $18.1B | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | $2.2B | — |
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 | $46.3M | $595.0M |
| 自由现金流经营现金流 - 资本支出 | $-5.3M | — |
| 自由现金流率自由现金流/营收 | -0.5% | — |
| 资本支出强度资本支出/营收 | 4.6% | — |
| 现金转化率经营现金流/净利润 | 0.41× | 2.39× |
| 过去12个月自由现金流最近4个季度 | $102.3M | — |
8季度趋势，按日历期对齐
经营现金流FNGFS
| Q4 25 | $46.3M | — | ||
| Q3 25 | $102.6M | $595.0M | ||
| Q2 25 | $55.1M | $431.0M | ||
| Q1 25 | $74.2M | $331.0M | ||
| Q4 24 | $115.9M | — | ||
| Q3 24 | $83.2M | $375.0M | ||
| Q2 24 | $83.1M | $402.0M | ||
| Q1 24 | $100.9M | $488.0M |
自由现金流FNGFS
| Q4 25 | $-5.3M | — | ||
| Q3 25 | $57.3M | — | ||
| Q2 25 | $4.7M | — | ||
| Q1 25 | $45.7M | — | ||
| Q4 24 | $94.0M | — | ||
| Q3 24 | $62.9M | — | ||
| Q2 24 | $70.4M | — | ||
| Q1 24 | $87.3M | — |
自由现金流率FNGFS
| Q4 25 | -0.5% | — | ||
| Q3 25 | 5.9% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 5.2% | — | ||
| Q4 24 | 11.3% | — | ||
| Q3 24 | 7.8% | — | ||
| Q2 24 | 9.3% | — | ||
| Q1 24 | 11.9% | — |
资本支出强度FNGFS
| Q4 25 | 4.6% | — | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 5.5% | — | ||
| Q1 25 | 3.3% | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | 1.7% | — | ||
| Q1 24 | 1.9% | — |
现金转化率FNGFS
| Q4 25 | 0.41× | — | ||
| Q3 25 | 1.07× | 2.39× | ||
| Q2 25 | 0.63× | 1.89× | ||
| Q1 25 | 0.91× | 1.57× | ||
| Q4 24 | 1.34× | — | ||
| Q3 24 | 1.07× | 2.11× | ||
| Q2 24 | 1.02× | 2.59× | ||
| Q1 24 | 1.25× | 3.64× |
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
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
GFS
| Smart Mobile Devices | $752.0M | 45% |
| Automotive | $306.0M | 18% |
| Home And Industrial Io T | $258.0M | 15% |
| Goods Or Services Transferred Over Time | $198.0M | 12% |
| Communications Infrastructure Datacenter | $175.0M | 10% |
