vs
Fabrinet（FN）与希悦尔（SEE）财务数据对比。点击上方公司名可切换其他公司
希悦尔的季度营收约是Fabrinet的1.2倍（$1.4B vs $1.1B），Fabrinet净利率更高（9.9% vs 3.1%，领先6.8%），Fabrinet同比增速更快（35.9% vs 2.6%），希悦尔自由现金流更多（$257.7M vs $-5.3M），过去两年Fabrinet的营收复合增速更高（24.4% vs 2.7%）
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。
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
FN vs SEE — 直观对比
营收规模更大
SEE
是对方的1.2倍
$1.1B
营收增速更快
FN
高出33.3%
2.6%
净利率更高
FN
高出6.8%
3.1%
自由现金流更多
SEE
多$263.0M
$-5.3M
两年增速更快
FN
近两年复合增速
2.7%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.4B |
| 净利润 | $112.6M | $43.8M |
| 毛利率 | 12.2% | 28.6% |
| 营业利润率 | 10.1% | 11.4% |
| 净利率 | 9.9% | 3.1% |
| 营收同比 | 35.9% | 2.6% |
| 净利润同比 | 30.0% | 700.0% |
| 每股收益（稀释后） | $3.11 | $0.30 |
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FNSEE
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $978.1M | $1.3B | ||
| Q2 25 | $909.7M | $1.3B | ||
| Q1 25 | $871.8M | $1.3B | ||
| Q4 24 | $833.6M | $1.4B | ||
| Q3 24 | $804.2M | $1.3B | ||
| Q2 24 | $753.3M | $1.3B | ||
| Q1 24 | $731.5M | $1.3B |
净利润FNSEE
| Q4 25 | $112.6M | $43.8M | ||
| Q3 25 | $95.9M | $255.1M | ||
| Q2 25 | $87.2M | $93.1M | ||
| Q1 25 | $81.3M | $113.5M | ||
| Q4 24 | $86.6M | $-7.3M | ||
| Q3 24 | $77.4M | $91.7M | ||
| Q2 24 | $81.1M | $98.3M | ||
| Q1 24 | $80.9M | $82.0M |
毛利率FNSEE
| Q4 25 | 12.2% | 28.6% | ||
| Q3 25 | 11.9% | 29.8% | ||
| Q2 25 | 12.2% | 30.7% | ||
| Q1 25 | 11.7% | 30.9% | ||
| Q4 24 | 12.1% | 30.0% | ||
| Q3 24 | 12.3% | 30.1% | ||
| Q2 24 | 12.3% | 31.2% | ||
| Q1 24 | 12.4% | 30.3% |
营业利润率FNSEE
| Q4 25 | 10.1% | 11.4% | ||
| Q3 25 | 9.6% | 13.8% | ||
| Q2 25 | 9.8% | 15.0% | ||
| Q1 25 | 9.0% | 14.5% | ||
| Q4 24 | 9.5% | 11.7% | ||
| Q3 24 | 9.6% | 13.9% | ||
| Q2 24 | 9.7% | 15.4% | ||
| Q1 24 | 9.7% | 14.0% |
净利率FNSEE
| Q4 25 | 9.9% | 3.1% | ||
| Q3 25 | 9.8% | 19.0% | ||
| Q2 25 | 9.6% | 7.0% | ||
| Q1 25 | 9.3% | 9.0% | ||
| Q4 24 | 10.4% | -0.5% | ||
| Q3 24 | 9.6% | 6.9% | ||
| Q2 24 | 10.8% | 7.4% | ||
| Q1 24 | 11.1% | 6.2% |
每股收益（稀释后）FNSEE
| Q4 25 | $3.11 | $0.30 | ||
| Q3 25 | $2.66 | $1.73 | ||
| Q2 25 | $2.41 | $0.63 | ||
| Q1 25 | $2.25 | $0.77 | ||
| Q4 24 | $2.38 | $-0.05 | ||
| Q3 24 | $2.13 | $0.63 | ||
| Q2 24 | $2.22 | $0.67 | ||
| Q1 24 | $2.21 | $0.56 |
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 | $344.0M |
| 总债务越低越好 | — | $3.3B |
| 股东权益账面价值 | $2.2B | $1.2B |
| 总资产 | $3.3B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 2.65× |
8季度趋势，按日历期对齐
现金及短期投资FNSEE
| Q4 25 | $960.8M | $344.0M | ||
| Q3 25 | $968.8M | $282.5M | ||
| Q2 25 | $934.2M | $354.4M | ||
| Q1 25 | $950.7M | $335.2M | ||
| Q4 24 | $934.6M | $371.8M | ||
| Q3 24 | $908.9M | $386.0M | ||
| Q2 24 | $858.6M | $388.6M | ||
| Q1 24 | $794.0M | $352.8M |
总债务FNSEE
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $4.5B |
股东权益FNSEE
| Q4 25 | $2.2B | $1.2B | ||
| Q3 25 | $2.1B | $1.2B | ||
| Q2 25 | $2.0B | $953.1M | ||
| Q1 25 | $1.9B | $797.9M | ||
| Q4 24 | $1.8B | $624.5M | ||
| Q3 24 | $1.8B | $771.2M | ||
| Q2 24 | $1.7B | $650.1M | ||
| Q1 24 | $1.7B | $598.3M |
总资产FNSEE
| Q4 25 | $3.3B | $7.0B | ||
| Q3 25 | $3.0B | $7.1B | ||
| Q2 25 | $2.8B | $7.2B | ||
| Q1 25 | $2.6B | $7.0B | ||
| Q4 24 | $2.5B | $7.0B | ||
| Q3 24 | $2.4B | $7.3B | ||
| Q2 24 | $2.3B | $7.3B | ||
| Q1 24 | $2.2B | $7.2B |
负债/权益比FNSEE
| Q4 25 | — | 2.65× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | 4.18× | ||
| Q1 25 | — | 5.26× | ||
| Q4 24 | — | 6.72× | ||
| Q3 24 | — | 5.62× | ||
| Q2 24 | — | 6.81× | ||
| Q1 24 | — | 7.49× |
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 | $293.6M |
| 自由现金流经营现金流 - 资本支出 | $-5.3M | $257.7M |
| 自由现金流率自由现金流/营收 | -0.5% | 18.5% |
| 资本支出强度资本支出/营收 | 4.6% | 2.6% |
| 现金转化率经营现金流/净利润 | 0.41× | 6.70× |
| 过去12个月自由现金流最近4个季度 | $102.3M | $458.5M |
8季度趋势，按日历期对齐
经营现金流FNSEE
| Q4 25 | $46.3M | $293.6M | ||
| Q3 25 | $102.6M | $165.9M | ||
| Q2 25 | $55.1M | $136.6M | ||
| Q1 25 | $74.2M | $31.9M | ||
| Q4 24 | $115.9M | $244.2M | ||
| Q3 24 | $83.2M | $170.5M | ||
| Q2 24 | $83.1M | $188.2M | ||
| Q1 24 | $100.9M | $125.1M |
自由现金流FNSEE
| Q4 25 | $-5.3M | $257.7M | ||
| Q3 25 | $57.3M | $119.6M | ||
| Q2 25 | $4.7M | $93.2M | ||
| Q1 25 | $45.7M | $-12.0M | ||
| Q4 24 | $94.0M | $185.1M | ||
| Q3 24 | $62.9M | $115.2M | ||
| Q2 24 | $70.4M | $129.5M | ||
| Q1 24 | $87.3M | $78.0M |
自由现金流率FNSEE
| Q4 25 | -0.5% | 18.5% | ||
| Q3 25 | 5.9% | 8.9% | ||
| Q2 25 | 0.5% | 7.0% | ||
| Q1 25 | 5.2% | -0.9% | ||
| Q4 24 | 11.3% | 13.6% | ||
| Q3 24 | 7.8% | 8.6% | ||
| Q2 24 | 9.3% | 9.7% | ||
| Q1 24 | 11.9% | 5.9% |
资本支出强度FNSEE
| Q4 25 | 4.6% | 2.6% | ||
| Q3 25 | 4.6% | 3.4% | ||
| Q2 25 | 5.5% | 3.3% | ||
| Q1 25 | 3.3% | 3.5% | ||
| Q4 24 | 2.6% | 4.4% | ||
| Q3 24 | 2.5% | 4.1% | ||
| Q2 24 | 1.7% | 4.4% | ||
| Q1 24 | 1.9% | 3.6% |
现金转化率FNSEE
| Q4 25 | 0.41× | 6.70× | ||
| Q3 25 | 1.07× | 0.65× | ||
| Q2 25 | 0.63× | 1.47× | ||
| Q1 25 | 0.91× | 0.28× | ||
| Q4 24 | 1.34× | — | ||
| Q3 24 | 1.07× | 1.86× | ||
| Q2 24 | 1.02× | 1.91× | ||
| Q1 24 | 1.25× | 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
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
