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Fidelity National Financial, Inc.（FNF）与HEALTHEQUITY, INC.（HQY）财务数据对比。点击上方公司名可切换其他公司
Fidelity National Financial, Inc.的季度营收约是HEALTHEQUITY, INC.的1.7倍（$544.0M vs $322.2M），HEALTHEQUITY, INC.净利率更高（16.0% vs -21.5%，领先37.6%），Fidelity National Financial, Inc.同比增速更快（10.3% vs 7.2%），过去两年Fidelity National Financial, Inc.的营收复合增速更高（13.7% vs 10.8%）
富达国民金融是美国财富500强企业，主要面向房地产与抵押贷款行业提供产权保险及交割服务，2019年其产权及房地产业务相关年度营收约为84.69亿美元，是全球领先的产权保险服务供应商。
HealthEquity, Inc.是美国一家金融科技及商业服务企业，拥有美国国税局授予的非银行类健康储蓄受托人资质，无论用户资金存入哪家金融机构，该公司均可作为对应健康储蓄账户的托管方，提供专业账户管理服务。
FNF vs HQY — 直观对比
营收规模更大
FNF
是对方的1.7倍
$322.2M
营收增速更快
FNF
高出3.1%
7.2%
净利率更高
HQY
高出37.6%
-21.5%
两年增速更快
FNF
近两年复合增速
10.8%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $544.0M | $322.2M |
| 净利润 | $-117.0M | $51.7M |
| 毛利率 | — | 70.8% |
| 营业利润率 | 82.9% | 24.4% |
| 净利率 | -21.5% | 16.0% |
| 营收同比 | 10.3% | 7.2% |
| 净利润同比 | -126.0% | 806.4% |
| 每股收益（稀释后） | $-0.44 | $0.59 |
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FNFHQY
| Q4 25 | $544.0M | $322.2M | ||
| Q3 25 | $553.0M | $325.8M | ||
| Q2 25 | $547.0M | $330.8M | ||
| Q1 25 | $455.0M | $311.8M | ||
| Q4 24 | $493.0M | $300.4M | ||
| Q3 24 | $506.0M | $299.9M | ||
| Q2 24 | $504.0M | $287.6M | ||
| Q1 24 | $421.0M | $262.4M |
净利润FNFHQY
| Q4 25 | $-117.0M | $51.7M | ||
| Q3 25 | $358.0M | $59.9M | ||
| Q2 25 | $278.0M | $53.9M | ||
| Q1 25 | $83.0M | $26.4M | ||
| Q4 24 | $450.0M | $5.7M | ||
| Q3 24 | $266.0M | $35.8M | ||
| Q2 24 | $306.0M | $28.8M | ||
| Q1 24 | $248.0M | $26.4M |
毛利率FNFHQY
| Q4 25 | — | 70.8% | ||
| Q3 25 | — | 71.4% | ||
| Q2 25 | — | 67.8% | ||
| Q1 25 | — | 60.6% | ||
| Q4 24 | — | 65.6% | ||
| Q3 24 | — | 68.0% | ||
| Q2 24 | — | 65.1% | ||
| Q1 24 | — | 63.1% |
营业利润率FNFHQY
| Q4 25 | 82.9% | 24.4% | ||
| Q3 25 | 81.9% | 27.5% | ||
| Q2 25 | 69.8% | 25.1% | ||
| Q1 25 | 24.4% | 13.5% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | 61.9% | 19.6% | ||
| Q2 24 | 90.9% | 14.5% | ||
| Q1 24 | 78.6% | 14.8% |
净利率FNFHQY
| Q4 25 | -21.5% | 16.0% | ||
| Q3 25 | 64.7% | 18.4% | ||
| Q2 25 | 50.8% | 16.3% | ||
| Q1 25 | 18.2% | 8.5% | ||
| Q4 24 | 91.3% | 1.9% | ||
| Q3 24 | 52.6% | 11.9% | ||
| Q2 24 | 60.7% | 10.0% | ||
| Q1 24 | 58.9% | 10.0% |
每股收益（稀释后）FNFHQY
| Q4 25 | $-0.44 | $0.59 | ||
| Q3 25 | $1.33 | $0.68 | ||
| Q2 25 | $1.02 | $0.61 | ||
| Q1 25 | $0.30 | $0.30 | ||
| Q4 24 | $1.65 | $0.06 | ||
| Q3 24 | $0.97 | $0.40 | ||
| Q2 24 | $1.12 | $0.33 | ||
| Q1 24 | $0.91 | $0.30 |
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 | $2.6B | $309.3M |
| 总债务越低越好 | $4.4B | $982.1M |
| 股东权益账面价值 | $7.4B | $2.1B |
| 总资产 | $109.0B | $3.4B |
| 负债/权益比越低杠杆越低 | 0.59× | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资FNFHQY
| Q4 25 | $2.6B | $309.3M | ||
| Q3 25 | $3.5B | $304.5M | ||
| Q2 25 | $3.3B | $287.9M | ||
| Q1 25 | $4.5B | $295.9M | ||
| Q4 24 | $3.5B | $322.2M | ||
| Q3 24 | $5.0B | $326.9M | ||
| Q2 24 | $4.9B | $251.2M | ||
| Q1 24 | $3.5B | $404.0M |
总债务FNFHQY
| Q4 25 | $4.4B | $982.1M | ||
| Q3 25 | $4.4B | $1.0B | ||
| Q2 25 | $4.4B | $1.1B | ||
| Q1 25 | $4.4B | $1.1B | ||
| Q4 24 | $4.3B | $1.1B | ||
| Q3 24 | $4.2B | $1.1B | ||
| Q2 24 | $4.2B | $925.7M | ||
| Q1 24 | $3.9B | $875.0M |
股东权益FNFHQY
| Q4 25 | $7.4B | $2.1B | ||
| Q3 25 | $8.4B | $2.1B | ||
| Q2 25 | $7.9B | $2.1B | ||
| Q1 25 | $7.9B | $2.1B | ||
| Q4 24 | $7.8B | $2.1B | ||
| Q3 24 | $8.1B | $2.2B | ||
| Q2 24 | $7.3B | $2.1B | ||
| Q1 24 | $7.1B | $2.0B |
总资产FNFHQY
| Q4 25 | $109.0B | $3.4B | ||
| Q3 25 | $106.6B | $3.4B | ||
| Q2 25 | $102.3B | $3.4B | ||
| Q1 25 | $98.2B | $3.4B | ||
| Q4 24 | $95.4B | $3.5B | ||
| Q3 24 | $94.7B | $3.5B | ||
| Q2 24 | $88.8B | $3.2B | ||
| Q1 24 | $84.5B | $3.2B |
负债/权益比FNFHQY
| Q4 25 | 0.59× | 0.46× | ||
| Q3 25 | 0.53× | 0.47× | ||
| Q2 25 | 0.56× | 0.50× | ||
| Q1 25 | 0.56× | 0.50× | ||
| Q4 24 | 0.56× | 0.51× | ||
| Q3 24 | 0.52× | 0.51× | ||
| Q2 24 | 0.58× | 0.44× | ||
| Q1 24 | 0.55× | 0.43× |
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 | $1.5B | $138.6M |
| 自由现金流经营现金流 - 资本支出 | — | $137.8M |
| 自由现金流率自由现金流/营收 | — | 42.8% |
| 资本支出强度资本支出/营收 | — | 0.2% |
| 现金转化率经营现金流/净利润 | — | 2.68× |
| 过去12个月自由现金流最近4个季度 | — | $413.0M |
8季度趋势，按日历期对齐
经营现金流FNFHQY
| Q4 25 | $1.5B | $138.6M | ||
| Q3 25 | $1.3B | $135.9M | ||
| Q2 25 | $1.9B | $64.7M | ||
| Q1 25 | $1.1B | $75.7M | ||
| Q4 24 | $1.5B | $90.5M | ||
| Q3 24 | $2.4B | $108.1M | ||
| Q2 24 | $1.4B | $65.4M | ||
| Q1 24 | $1.6B | $77.1M |
自由现金流FNFHQY
| Q4 25 | — | $137.8M | ||
| Q3 25 | — | $135.1M | ||
| Q2 25 | — | $64.7M | ||
| Q1 25 | — | $75.4M | ||
| Q4 24 | — | $90.3M | ||
| Q3 24 | — | $107.4M | ||
| Q2 24 | — | $64.7M | ||
| Q1 24 | — | $76.5M |
自由现金流率FNFHQY
| Q4 25 | — | 42.8% | ||
| Q3 25 | — | 41.5% | ||
| Q2 25 | — | 19.5% | ||
| Q1 25 | — | 24.2% | ||
| Q4 24 | — | 30.0% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 22.5% | ||
| Q1 24 | — | 29.2% |
资本支出强度FNFHQY
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.2% |
现金转化率FNFHQY
| Q4 25 | — | 2.68× | ||
| Q3 25 | 3.66× | 2.27× | ||
| Q2 25 | 6.82× | 1.20× | ||
| Q1 25 | 13.43× | 2.87× | ||
| Q4 24 | 3.32× | 15.88× | ||
| Q3 24 | 8.89× | 3.02× | ||
| Q2 24 | 4.45× | 2.27× | ||
| Q1 24 | 6.42× | 2.92× |
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
FNF
| Escrow Fees | $241.0M | 44% |
| Other Title Related Fees And Income | $182.0M | 33% |
| Service Link Excluding Title Premiums Escrow Fees And Subservicing Fees | $87.0M | 16% |
| Insurance Contracts Home Warranty | $31.0M | 6% |
HQY
| Financial Service Other | $159.1M | 49% |
| Services | $120.3M | 37% |
| Credit And Debit Card | $42.8M | 13% |
