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Fidelity National Financial, Inc.（FNF）与PTC Inc.（PTC）财务数据对比。点击上方公司名可切换其他公司
PTC Inc.的季度营收约是Fidelity National Financial, Inc.的1.3倍（$685.8M vs $544.0M），PTC Inc.净利率更高（24.3% vs -21.5%，领先45.8%），PTC Inc.同比增速更快（21.4% vs 10.3%），过去两年Fidelity National Financial, Inc.的营收复合增速更高（13.7% vs 6.6%）
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。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
FNF vs PTC — 直观对比
营收规模更大
PTC
是对方的1.3倍
$544.0M
营收增速更快
PTC
高出11.0%
10.3%
净利率更高
PTC
高出45.8%
-21.5%
两年增速更快
FNF
近两年复合增速
6.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $544.0M | $685.8M |
| 净利润 | $-117.0M | $166.5M |
| 毛利率 | — | 82.8% |
| 营业利润率 | 82.9% | 32.2% |
| 净利率 | -21.5% | 24.3% |
| 营收同比 | 10.3% | 21.4% |
| 净利润同比 | -126.0% | 102.5% |
| 每股收益（稀释后） | $-0.44 | $1.39 |
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FNFPTC
| Q4 25 | $544.0M | $685.8M | ||
| Q3 25 | $553.0M | $893.8M | ||
| Q2 25 | $547.0M | $643.9M | ||
| Q1 25 | $455.0M | $636.4M | ||
| Q4 24 | $493.0M | $565.1M | ||
| Q3 24 | $506.0M | $626.5M | ||
| Q2 24 | $504.0M | $518.6M | ||
| Q1 24 | $421.0M | $603.1M |
净利润FNFPTC
| Q4 25 | $-117.0M | $166.5M | ||
| Q3 25 | $358.0M | $347.8M | ||
| Q2 25 | $278.0M | $141.3M | ||
| Q1 25 | $83.0M | $162.6M | ||
| Q4 24 | $450.0M | $82.2M | ||
| Q3 24 | $266.0M | $126.5M | ||
| Q2 24 | $306.0M | $69.0M | ||
| Q1 24 | $248.0M | $114.4M |
毛利率FNFPTC
| Q4 25 | — | 82.8% | ||
| Q3 25 | — | 86.9% | ||
| Q2 25 | — | 82.9% | ||
| Q1 25 | — | 83.3% | ||
| Q4 24 | — | 80.2% | ||
| Q3 24 | — | 82.0% | ||
| Q2 24 | — | 78.4% | ||
| Q1 24 | — | 81.8% |
营业利润率FNFPTC
| Q4 25 | 82.9% | 32.2% | ||
| Q3 25 | 81.9% | 48.5% | ||
| Q2 25 | 69.8% | 32.6% | ||
| Q1 25 | 24.4% | 35.1% | ||
| Q4 24 | — | 20.4% | ||
| Q3 24 | 61.9% | 31.0% | ||
| Q2 24 | 90.9% | 18.5% | ||
| Q1 24 | 78.6% | 29.8% |
净利率FNFPTC
| Q4 25 | -21.5% | 24.3% | ||
| Q3 25 | 64.7% | 38.9% | ||
| Q2 25 | 50.8% | 21.9% | ||
| Q1 25 | 18.2% | 25.6% | ||
| Q4 24 | 91.3% | 14.6% | ||
| Q3 24 | 52.6% | 20.2% | ||
| Q2 24 | 60.7% | 13.3% | ||
| Q1 24 | 58.9% | 19.0% |
每股收益（稀释后）FNFPTC
| Q4 25 | $-0.44 | $1.39 | ||
| Q3 25 | $1.33 | $2.88 | ||
| Q2 25 | $1.02 | $1.17 | ||
| Q1 25 | $0.30 | $1.35 | ||
| Q4 24 | $1.65 | $0.68 | ||
| Q3 24 | $0.97 | $1.05 | ||
| Q2 24 | $1.12 | $0.57 | ||
| Q1 24 | $0.91 | $0.95 |
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 | $209.7M |
| 总债务越低越好 | $4.4B | $1.2B |
| 股东权益账面价值 | $7.4B | $3.8B |
| 总资产 | $109.0B | $6.4B |
| 负债/权益比越低杠杆越低 | 0.59× | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资FNFPTC
| Q4 25 | $2.6B | $209.7M | ||
| Q3 25 | $3.5B | $184.4M | ||
| Q2 25 | $3.3B | $199.3M | ||
| Q1 25 | $4.5B | $235.2M | ||
| Q4 24 | $3.5B | $196.3M | ||
| Q3 24 | $5.0B | $265.8M | ||
| Q2 24 | $4.9B | $247.7M | ||
| Q1 24 | $3.5B | $249.0M |
总债务FNFPTC
| Q4 25 | $4.4B | $1.2B | ||
| Q3 25 | $4.4B | $1.2B | ||
| Q2 25 | $4.4B | $1.2B | ||
| Q1 25 | $4.4B | $1.4B | ||
| Q4 24 | $4.3B | $1.0B | ||
| Q3 24 | $4.2B | $1.2B | ||
| Q2 24 | $4.2B | $1.3B | ||
| Q1 24 | $3.9B | $1.5B |
股东权益FNFPTC
| Q4 25 | $7.4B | $3.8B | ||
| Q3 25 | $8.4B | $3.8B | ||
| Q2 25 | $7.9B | $3.5B | ||
| Q1 25 | $7.9B | $3.4B | ||
| Q4 24 | $7.8B | $3.2B | ||
| Q3 24 | $8.1B | $3.2B | ||
| Q2 24 | $7.3B | $3.0B | ||
| Q1 24 | $7.1B | $2.9B |
总资产FNFPTC
| Q4 25 | $109.0B | $6.4B | ||
| Q3 25 | $106.6B | $6.6B | ||
| Q2 25 | $102.3B | $6.2B | ||
| Q1 25 | $98.2B | $6.2B | ||
| Q4 24 | $95.4B | $6.1B | ||
| Q3 24 | $94.7B | $6.4B | ||
| Q2 24 | $88.8B | $6.1B | ||
| Q1 24 | $84.5B | $6.2B |
负债/权益比FNFPTC
| Q4 25 | 0.59× | 0.31× | ||
| Q3 25 | 0.53× | 0.31× | ||
| Q2 25 | 0.56× | 0.34× | ||
| Q1 25 | 0.56× | 0.40× | ||
| Q4 24 | 0.56× | 0.32× | ||
| Q3 24 | 0.52× | 0.38× | ||
| Q2 24 | 0.58× | 0.43× | ||
| Q1 24 | 0.55× | 0.51× |
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 | $269.7M |
| 自由现金流经营现金流 - 资本支出 | — | $267.4M |
| 自由现金流率自由现金流/营收 | — | 39.0% |
| 资本支出强度资本支出/营收 | — | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.62× |
| 过去12个月自由现金流最近4个季度 | — | $888.4M |
8季度趋势，按日历期对齐
经营现金流FNFPTC
| Q4 25 | $1.5B | $269.7M | ||
| Q3 25 | $1.3B | $104.0M | ||
| Q2 25 | $1.9B | $243.9M | ||
| Q1 25 | $1.1B | $281.3M | ||
| Q4 24 | $1.5B | $238.4M | ||
| Q3 24 | $2.4B | $98.1M | ||
| Q2 24 | $1.4B | $213.8M | ||
| Q1 24 | $1.6B | $250.7M |
自由现金流FNFPTC
| Q4 25 | — | $267.4M | ||
| Q3 25 | — | $100.5M | ||
| Q2 25 | — | $242.0M | ||
| Q1 25 | — | $278.5M | ||
| Q4 24 | — | $235.7M | ||
| Q3 24 | — | $93.6M | ||
| Q2 24 | — | $212.2M | ||
| Q1 24 | — | $247.1M |
自由现金流率FNFPTC
| Q4 25 | — | 39.0% | ||
| Q3 25 | — | 11.2% | ||
| Q2 25 | — | 37.6% | ||
| Q1 25 | — | 43.8% | ||
| Q4 24 | — | 41.7% | ||
| Q3 24 | — | 14.9% | ||
| Q2 24 | — | 40.9% | ||
| Q1 24 | — | 41.0% |
资本支出强度FNFPTC
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.6% |
现金转化率FNFPTC
| Q4 25 | — | 1.62× | ||
| Q3 25 | 3.66× | 0.30× | ||
| Q2 25 | 6.82× | 1.73× | ||
| Q1 25 | 13.43× | 1.73× | ||
| Q4 24 | 3.32× | 2.90× | ||
| Q3 24 | 8.89× | 0.78× | ||
| Q2 24 | 4.45× | 3.10× | ||
| Q1 24 | 6.42× | 2.19× |
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% |
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
