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Fabrinet（FN）与West Pharmaceutical Services（WST）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West Pharmaceutical Services的1.4倍（$1.1B vs $805.0M），West Pharmaceutical Services净利率更高（16.4% vs 9.9%，领先6.5%），Fabrinet同比增速更快（35.9% vs 7.5%），West Pharmaceutical Services自由现金流更多（$175.0M vs $-5.3M），过去两年Fabrinet的营收复合增速更高（24.4% vs 7.6%）
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。
美国West Pharmaceutical Services是注射用药品包装及给药系统的设计和制造商，1923年成立，总部位于宾夕法尼亚州埃克斯顿。成立初期主营注射类药物包装用橡胶组件，曾为青霉素和胰岛素生产商提供符合无菌要求的配套产品。
FN vs WST — 直观对比
营收规模更大
FN
是对方的1.4倍
$805.0M
营收增速更快
FN
高出28.4%
7.5%
净利率更高
WST
高出6.5%
9.9%
自由现金流更多
WST
多$180.3M
$-5.3M
两年增速更快
FN
近两年复合增速
7.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $805.0M |
| 净利润 | $112.6M | $132.1M |
| 毛利率 | 12.2% | 37.8% |
| 营业利润率 | 10.1% | 19.5% |
| 净利率 | 9.9% | 16.4% |
| 营收同比 | 35.9% | 7.5% |
| 净利润同比 | 30.0% | 1.5% |
| 每股收益（稀释后） | $3.11 | $1.82 |
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FNWST
| Q4 25 | $1.1B | $805.0M | ||
| Q3 25 | $978.1M | $804.6M | ||
| Q2 25 | $909.7M | $766.5M | ||
| Q1 25 | $871.8M | $698.0M | ||
| Q4 24 | $833.6M | $748.8M | ||
| Q3 24 | $804.2M | $746.9M | ||
| Q2 24 | $753.3M | $702.1M | ||
| Q1 24 | $731.5M | $695.4M |
净利润FNWST
| Q4 25 | $112.6M | $132.1M | ||
| Q3 25 | $95.9M | $140.0M | ||
| Q2 25 | $87.2M | $131.8M | ||
| Q1 25 | $81.3M | $89.8M | ||
| Q4 24 | $86.6M | $130.1M | ||
| Q3 24 | $77.4M | $136.0M | ||
| Q2 24 | $81.1M | $111.3M | ||
| Q1 24 | $80.9M | $115.3M |
毛利率FNWST
| Q4 25 | 12.2% | 37.8% | ||
| Q3 25 | 11.9% | 36.6% | ||
| Q2 25 | 12.2% | 35.7% | ||
| Q1 25 | 11.7% | 33.2% | ||
| Q4 24 | 12.1% | 36.5% | ||
| Q3 24 | 12.3% | 35.4% | ||
| Q2 24 | 12.3% | 32.8% | ||
| Q1 24 | 12.4% | 33.1% |
营业利润率FNWST
| Q4 25 | 10.1% | 19.5% | ||
| Q3 25 | 9.6% | 20.8% | ||
| Q2 25 | 9.8% | 20.1% | ||
| Q1 25 | 9.0% | 15.3% | ||
| Q4 24 | 9.5% | 21.3% | ||
| Q3 24 | 9.6% | 21.6% | ||
| Q2 24 | 9.7% | 18.0% | ||
| Q1 24 | 9.7% | 17.7% |
净利率FNWST
| Q4 25 | 9.9% | 16.4% | ||
| Q3 25 | 9.8% | 17.4% | ||
| Q2 25 | 9.6% | 17.2% | ||
| Q1 25 | 9.3% | 12.9% | ||
| Q4 24 | 10.4% | 17.4% | ||
| Q3 24 | 9.6% | 18.2% | ||
| Q2 24 | 10.8% | 15.9% | ||
| Q1 24 | 11.1% | 16.6% |
每股收益（稀释后）FNWST
| Q4 25 | $3.11 | $1.82 | ||
| Q3 25 | $2.66 | $1.92 | ||
| Q2 25 | $2.41 | $1.82 | ||
| Q1 25 | $2.25 | $1.23 | ||
| Q4 24 | $2.38 | $1.78 | ||
| Q3 24 | $2.13 | $1.85 | ||
| Q2 24 | $2.22 | $1.51 | ||
| Q1 24 | $2.21 | $1.55 |
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 | $791.3M |
| 总债务越低越好 | — | $202.8M |
| 股东权益账面价值 | $2.2B | $3.2B |
| 总资产 | $3.3B | $4.3B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资FNWST
| Q4 25 | $960.8M | $791.3M | ||
| Q3 25 | $968.8M | $628.5M | ||
| Q2 25 | $934.2M | $509.7M | ||
| Q1 25 | $950.7M | $404.2M | ||
| Q4 24 | $934.6M | $484.6M | ||
| Q3 24 | $908.9M | $490.9M | ||
| Q2 24 | $858.6M | $446.2M | ||
| Q1 24 | $794.0M | $601.8M |
总债务FNWST
| Q4 25 | — | $202.8M | ||
| Q3 25 | — | $202.7M | ||
| Q2 25 | — | $202.6M | ||
| Q1 25 | — | $202.6M | ||
| Q4 24 | — | $202.6M | ||
| Q3 24 | — | $202.6M | ||
| Q2 24 | — | $205.8M | ||
| Q1 24 | — | $206.2M |
股东权益FNWST
| Q4 25 | $2.2B | $3.2B | ||
| Q3 25 | $2.1B | $3.1B | ||
| Q2 25 | $2.0B | $2.9B | ||
| Q1 25 | $1.9B | $2.7B | ||
| Q4 24 | $1.8B | $2.7B | ||
| Q3 24 | $1.8B | $2.8B | ||
| Q2 24 | $1.7B | $2.6B | ||
| Q1 24 | $1.7B | $2.7B |
总资产FNWST
| Q4 25 | $3.3B | $4.3B | ||
| Q3 25 | $3.0B | $4.1B | ||
| Q2 25 | $2.8B | $4.0B | ||
| Q1 25 | $2.6B | $3.6B | ||
| Q4 24 | $2.5B | $3.6B | ||
| Q3 24 | $2.4B | $3.7B | ||
| Q2 24 | $2.3B | $3.5B | ||
| Q1 24 | $2.2B | $3.6B |
负债/权益比FNWST
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.08× | ||
| Q1 24 | — | 0.08× |
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 | $251.1M |
| 自由现金流经营现金流 - 资本支出 | $-5.3M | $175.0M |
| 自由现金流率自由现金流/营收 | -0.5% | 21.7% |
| 资本支出强度资本支出/营收 | 4.6% | 9.5% |
| 现金转化率经营现金流/净利润 | 0.41× | 1.90× |
| 过去12个月自由现金流最近4个季度 | $102.3M | $468.9M |
8季度趋势，按日历期对齐
经营现金流FNWST
| Q4 25 | $46.3M | $251.1M | ||
| Q3 25 | $102.6M | $197.2M | ||
| Q2 25 | $55.1M | $177.1M | ||
| Q1 25 | $74.2M | $129.4M | ||
| Q4 24 | $115.9M | $190.1M | ||
| Q3 24 | $83.2M | $180.1M | ||
| Q2 24 | $83.1M | $165.0M | ||
| Q1 24 | $100.9M | $118.2M |
自由现金流FNWST
| Q4 25 | $-5.3M | $175.0M | ||
| Q3 25 | $57.3M | $133.9M | ||
| Q2 25 | $4.7M | $101.9M | ||
| Q1 25 | $45.7M | $58.1M | ||
| Q4 24 | $94.0M | $85.2M | ||
| Q3 24 | $62.9M | $98.8M | ||
| Q2 24 | $70.4M | $64.8M | ||
| Q1 24 | $87.3M | $27.6M |
自由现金流率FNWST
| Q4 25 | -0.5% | 21.7% | ||
| Q3 25 | 5.9% | 16.6% | ||
| Q2 25 | 0.5% | 13.3% | ||
| Q1 25 | 5.2% | 8.3% | ||
| Q4 24 | 11.3% | 11.4% | ||
| Q3 24 | 7.8% | 13.2% | ||
| Q2 24 | 9.3% | 9.2% | ||
| Q1 24 | 11.9% | 4.0% |
资本支出强度FNWST
| Q4 25 | 4.6% | 9.5% | ||
| Q3 25 | 4.6% | 7.9% | ||
| Q2 25 | 5.5% | 9.8% | ||
| Q1 25 | 3.3% | 10.2% | ||
| Q4 24 | 2.6% | 14.0% | ||
| Q3 24 | 2.5% | 10.9% | ||
| Q2 24 | 1.7% | 14.3% | ||
| Q1 24 | 1.9% | 13.0% |
现金转化率FNWST
| Q4 25 | 0.41× | 1.90× | ||
| Q3 25 | 1.07× | 1.41× | ||
| Q2 25 | 0.63× | 1.34× | ||
| Q1 25 | 0.91× | 1.44× | ||
| Q4 24 | 1.34× | 1.46× | ||
| Q3 24 | 1.07× | 1.32× | ||
| Q2 24 | 1.02× | 1.48× | ||
| Q1 24 | 1.25× | 1.03× |
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% |
WST
| Proprietary Products | $661.8M | 82% |
| Contract Manufactured Products | $143.2M | 18% |
| Affiliated Entity | $3.3M | 0% |
