vs
Fabrinet（FN）与罗塞塔石碑（STEP）财务数据对比。点击上方公司名可切换其他公司
Fabrinet的季度营收约是罗塞塔石碑的1.9倍（$1.1B vs $586.5M），Fabrinet净利率更高（9.9% vs -21.0%，领先31.0%），罗塞塔石碑同比增速更快（73.0% vs 35.9%），罗塞塔石碑自由现金流更多（$26.7M vs $-5.3M），过去两年罗塞塔石碑的营收复合增速更高（28.2% vs 24.4%）
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。
罗塞塔石碑是美国教育科技软件企业，开发语言学习、读写能力提升及脑训练类软件，旗下语言学习产品知名度极高。2013年公司收购Livemocha、Lexia Learning等品牌拓展教育科技业务矩阵，2021年正式成为IXL Learning的子公司。
FN vs STEP — 直观对比
营收规模更大
FN
是对方的1.9倍
$586.5M
营收增速更快
STEP
高出37.1%
35.9%
净利率更高
FN
高出31.0%
-21.0%
自由现金流更多
STEP
多$32.1M
$-5.3M
两年增速更快
STEP
近两年复合增速
24.4%
损益表 — Q2 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $586.5M |
| 净利润 | $112.6M | $-123.5M |
| 毛利率 | 12.2% | — |
| 营业利润率 | 10.1% | -33.2% |
| 净利率 | 9.9% | -21.0% |
| 营收同比 | 35.9% | 73.0% |
| 净利润同比 | 30.0% | 35.7% |
| 每股收益（稀释后） | $3.11 | $-1.55 |
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FNSTEP
| Q4 25 | $1.1B | $586.5M | ||
| Q3 25 | $978.1M | $454.2M | ||
| Q2 25 | $909.7M | $364.3M | ||
| Q1 25 | $871.8M | $377.7M | ||
| Q4 24 | $833.6M | $339.0M | ||
| Q3 24 | $804.2M | $271.7M | ||
| Q2 24 | $753.3M | $186.4M | ||
| Q1 24 | $731.5M | $356.8M |
净利润FNSTEP
| Q4 25 | $112.6M | $-123.5M | ||
| Q3 25 | $95.9M | $-366.1M | ||
| Q2 25 | $87.2M | $-38.4M | ||
| Q1 25 | $81.3M | $-18.5M | ||
| Q4 24 | $86.6M | $-192.0M | ||
| Q3 24 | $77.4M | $17.6M | ||
| Q2 24 | $81.1M | $13.3M | ||
| Q1 24 | $80.9M | $30.8M |
毛利率FNSTEP
| Q4 25 | 12.2% | — | ||
| Q3 25 | 11.9% | — | ||
| Q2 25 | 12.2% | — | ||
| Q1 25 | 11.7% | — | ||
| Q4 24 | 12.1% | — | ||
| Q3 24 | 12.3% | — | ||
| Q2 24 | 12.3% | — | ||
| Q1 24 | 12.4% | — |
营业利润率FNSTEP
| Q4 25 | 10.1% | -33.2% | ||
| Q3 25 | 9.6% | -148.8% | ||
| Q2 25 | 9.8% | -5.6% | ||
| Q1 25 | 9.0% | 2.6% | ||
| Q4 24 | 9.5% | -101.7% | ||
| Q3 24 | 9.6% | 21.3% | ||
| Q2 24 | 9.7% | 29.4% | ||
| Q1 24 | 9.7% | 26.5% |
净利率FNSTEP
| Q4 25 | 9.9% | -21.0% | ||
| Q3 25 | 9.8% | -80.6% | ||
| Q2 25 | 9.6% | -10.5% | ||
| Q1 25 | 9.3% | -4.9% | ||
| Q4 24 | 10.4% | -56.6% | ||
| Q3 24 | 9.6% | 6.5% | ||
| Q2 24 | 10.8% | 7.2% | ||
| Q1 24 | 11.1% | 8.6% |
每股收益（稀释后）FNSTEP
| Q4 25 | $3.11 | $-1.55 | ||
| Q3 25 | $2.66 | $-4.66 | ||
| Q2 25 | $2.41 | $-0.49 | ||
| Q1 25 | $2.25 | $-0.37 | ||
| Q4 24 | $2.38 | $-2.61 | ||
| Q3 24 | $2.13 | $0.26 | ||
| Q2 24 | $2.22 | $0.20 | ||
| Q1 24 | $2.21 | $0.47 |
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 | — |
| 总债务越低越好 | — | $270.2M |
| 股东权益账面价值 | $2.2B | $-378.8M |
| 总资产 | $3.3B | $5.2B |
| 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FNSTEP
| Q4 25 | $960.8M | — | ||
| Q3 25 | $968.8M | — | ||
| Q2 25 | $934.2M | — | ||
| Q1 25 | $950.7M | — | ||
| Q4 24 | $934.6M | — | ||
| Q3 24 | $908.9M | — | ||
| Q2 24 | $858.6M | — | ||
| Q1 24 | $794.0M | — |
总债务FNSTEP
| Q4 25 | — | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | — | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M | ||
| Q1 24 | — | $148.8M |
股东权益FNSTEP
| Q4 25 | $2.2B | $-378.8M | ||
| Q3 25 | $2.1B | $-233.5M | ||
| Q2 25 | $2.0B | $153.9M | ||
| Q1 25 | $1.9B | $179.4M | ||
| Q4 24 | $1.8B | $209.8M | ||
| Q3 24 | $1.8B | $397.5M | ||
| Q2 24 | $1.7B | $366.9M | ||
| Q1 24 | $1.7B | $324.5M |
总资产FNSTEP
| Q4 25 | $3.3B | $5.2B | ||
| Q3 25 | $3.0B | $5.3B | ||
| Q2 25 | $2.8B | $4.8B | ||
| Q1 25 | $2.6B | $4.6B | ||
| Q4 24 | $2.5B | $4.3B | ||
| Q3 24 | $2.4B | $4.0B | ||
| Q2 24 | $2.3B | $3.8B | ||
| Q1 24 | $2.2B | $3.8B |
负债/权益比FNSTEP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.46× |
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 | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $-5.3M | $26.7M |
| 自由现金流率自由现金流/营收 | -0.5% | 4.6% |
| 资本支出强度资本支出/营收 | 4.6% | 0.1% |
| 现金转化率经营现金流/净利润 | 0.41× | — |
| 过去12个月自由现金流最近4个季度 | $102.3M | $18.6M |
8季度趋势，按日历期对齐
经营现金流FNSTEP
| Q4 25 | $46.3M | $27.2M | ||
| Q3 25 | $102.6M | $16.2M | ||
| Q2 25 | $55.1M | $46.3M | ||
| Q1 25 | $74.2M | $-66.5M | ||
| Q4 24 | $115.9M | $27.6M | ||
| Q3 24 | $83.2M | $53.7M | ||
| Q2 24 | $83.1M | $50.2M | ||
| Q1 24 | $100.9M | $7.6M |
自由现金流FNSTEP
| Q4 25 | $-5.3M | $26.7M | ||
| Q3 25 | $57.3M | $15.9M | ||
| Q2 25 | $4.7M | $45.2M | ||
| Q1 25 | $45.7M | $-69.2M | ||
| Q4 24 | $94.0M | $27.0M | ||
| Q3 24 | $62.9M | $52.4M | ||
| Q2 24 | $70.4M | $49.6M | ||
| Q1 24 | $87.3M | $6.7M |
自由现金流率FNSTEP
| Q4 25 | -0.5% | 4.6% | ||
| Q3 25 | 5.9% | 3.5% | ||
| Q2 25 | 0.5% | 12.4% | ||
| Q1 25 | 5.2% | -18.3% | ||
| Q4 24 | 11.3% | 8.0% | ||
| Q3 24 | 7.8% | 19.3% | ||
| Q2 24 | 9.3% | 26.6% | ||
| Q1 24 | 11.9% | 1.9% |
资本支出强度FNSTEP
| Q4 25 | 4.6% | 0.1% | ||
| Q3 25 | 4.6% | 0.1% | ||
| Q2 25 | 5.5% | 0.3% | ||
| Q1 25 | 3.3% | 0.7% | ||
| Q4 24 | 2.6% | 0.2% | ||
| Q3 24 | 2.5% | 0.5% | ||
| Q2 24 | 1.7% | 0.3% | ||
| Q1 24 | 1.9% | 0.3% |
现金转化率FNSTEP
| Q4 25 | 0.41× | — | ||
| Q3 25 | 1.07× | — | ||
| Q2 25 | 0.63× | — | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | 1.34× | — | ||
| Q3 24 | 1.07× | 3.05× | ||
| Q2 24 | 1.02× | 3.76× | ||
| Q1 24 | 1.25× | 0.25× |
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% |
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
