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Fidelity National Financial, Inc.（FNF）与SCANSOURCE, INC.（SCSC）财务数据对比。点击上方公司名可切换其他公司
SCANSOURCE, INC.的季度营收约是Fidelity National Financial, Inc.的1.4倍（$766.5M vs $544.0M），SCANSOURCE, INC.净利率更高（2.2% vs -21.5%，领先23.7%），Fidelity National Financial, Inc.同比增速更快（10.3% vs 2.5%），过去两年Fidelity National Financial, Inc.的营收复合增速更高（13.7% vs 0.9%）
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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
FNF vs SCSC — 直观对比
营收规模更大
SCSC
是对方的1.4倍
$544.0M
营收增速更快
FNF
高出7.8%
2.5%
净利率更高
SCSC
高出23.7%
-21.5%
两年增速更快
FNF
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $544.0M | $766.5M |
| 净利润 | $-117.0M | $16.5M |
| 毛利率 | — | 13.4% |
| 营业利润率 | 82.9% | 2.3% |
| 净利率 | -21.5% | 2.2% |
| 营收同比 | 10.3% | 2.5% |
| 净利润同比 | -126.0% | -3.3% |
| 每股收益（稀释后） | $-0.44 | $0.75 |
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FNFSCSC
| Q4 25 | $544.0M | $766.5M | ||
| Q3 25 | $553.0M | $739.6M | ||
| Q2 25 | $547.0M | $812.9M | ||
| Q1 25 | $455.0M | $704.8M | ||
| Q4 24 | $493.0M | $747.5M | ||
| Q3 24 | $506.0M | $775.6M | ||
| Q2 24 | $504.0M | $746.1M | ||
| Q1 24 | $421.0M | $752.6M |
净利润FNFSCSC
| Q4 25 | $-117.0M | $16.5M | ||
| Q3 25 | $358.0M | $19.9M | ||
| Q2 25 | $278.0M | $20.1M | ||
| Q1 25 | $83.0M | $17.4M | ||
| Q4 24 | $450.0M | $17.1M | ||
| Q3 24 | $266.0M | $17.0M | ||
| Q2 24 | $306.0M | $16.1M | ||
| Q1 24 | $248.0M | $12.8M |
毛利率FNFSCSC
| Q4 25 | — | 13.4% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | — | 13.1% | ||
| Q2 24 | — | 13.0% | ||
| Q1 24 | — | 12.6% |
营业利润率FNFSCSC
| Q4 25 | 82.9% | 2.3% | ||
| Q3 25 | 81.9% | 3.5% | ||
| Q2 25 | 69.8% | 3.3% | ||
| Q1 25 | 24.4% | 3.2% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | 61.9% | 2.3% | ||
| Q2 24 | 90.9% | 2.9% | ||
| Q1 24 | 78.6% | 2.3% |
净利率FNFSCSC
| Q4 25 | -21.5% | 2.2% | ||
| Q3 25 | 64.7% | 2.7% | ||
| Q2 25 | 50.8% | 2.5% | ||
| Q1 25 | 18.2% | 2.5% | ||
| Q4 24 | 91.3% | 2.3% | ||
| Q3 24 | 52.6% | 2.2% | ||
| Q2 24 | 60.7% | 2.2% | ||
| Q1 24 | 58.9% | 1.7% |
每股收益（稀释后）FNFSCSC
| Q4 25 | $-0.44 | $0.75 | ||
| Q3 25 | $1.33 | $0.89 | ||
| Q2 25 | $1.02 | $0.87 | ||
| Q1 25 | $0.30 | $0.74 | ||
| Q4 24 | $1.65 | $0.70 | ||
| Q3 24 | $0.97 | $0.69 | ||
| Q2 24 | $1.12 | $0.66 | ||
| Q1 24 | $0.91 | $0.50 |
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 | $83.5M |
| 总债务越低越好 | $4.4B | — |
| 股东权益账面价值 | $7.4B | $910.9M |
| 总资产 | $109.0B | $1.7B |
| 负债/权益比越低杠杆越低 | 0.59× | — |
8季度趋势，按日历期对齐
现金及短期投资FNFSCSC
| Q4 25 | $2.6B | $83.5M | ||
| Q3 25 | $3.5B | $124.9M | ||
| Q2 25 | $3.3B | $126.2M | ||
| Q1 25 | $4.5B | $146.3M | ||
| Q4 24 | $3.5B | $110.5M | ||
| Q3 24 | $5.0B | $145.0M | ||
| Q2 24 | $4.9B | $185.5M | ||
| Q1 24 | $3.5B | $159.1M |
总债务FNFSCSC
| Q4 25 | $4.4B | — | ||
| Q3 25 | $4.4B | — | ||
| Q2 25 | $4.4B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.2B | — | ||
| Q1 24 | $3.9B | — |
股东权益FNFSCSC
| Q4 25 | $7.4B | $910.9M | ||
| Q3 25 | $8.4B | $914.0M | ||
| Q2 25 | $7.9B | $906.4M | ||
| Q1 25 | $7.9B | $901.7M | ||
| Q4 24 | $7.8B | $900.7M | ||
| Q3 24 | $8.1B | $920.9M | ||
| Q2 24 | $7.3B | $924.3M | ||
| Q1 24 | $7.1B | $944.1M |
总资产FNFSCSC
| Q4 25 | $109.0B | $1.7B | ||
| Q3 25 | $106.6B | $1.7B | ||
| Q2 25 | $102.3B | $1.8B | ||
| Q1 25 | $98.2B | $1.7B | ||
| Q4 24 | $95.4B | $1.7B | ||
| Q3 24 | $94.7B | $1.8B | ||
| Q2 24 | $88.8B | $1.8B | ||
| Q1 24 | $84.5B | $1.8B |
负债/权益比FNFSCSC
| Q4 25 | 0.59× | — | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.56× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.56× | — | ||
| Q3 24 | 0.52× | — | ||
| Q2 24 | 0.58× | — | ||
| Q1 24 | 0.55× | — |
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 | $30.8M |
| 自由现金流经营现金流 - 资本支出 | — | $28.9M |
| 自由现金流率自由现金流/营收 | — | 3.8% |
| 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 | — | 1.87× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流FNFSCSC
| Q4 25 | $1.5B | $30.8M | ||
| Q3 25 | $1.3B | $23.2M | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.1B | $66.1M | ||
| Q4 24 | $1.5B | $-6.2M | ||
| Q3 24 | $2.4B | $44.8M | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.6B | $160.2M |
自由现金流FNFSCSC
| Q4 25 | — | $28.9M | ||
| Q3 25 | — | $20.8M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $64.6M | ||
| Q4 24 | — | $-8.2M | ||
| Q3 24 | — | $42.5M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $157.7M |
自由现金流率FNFSCSC
| Q4 25 | — | 3.8% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | 5.5% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 21.0% |
资本支出强度FNFSCSC
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.3% |
现金转化率FNFSCSC
| Q4 25 | — | 1.87× | ||
| Q3 25 | 3.66× | 1.17× | ||
| Q2 25 | 6.82× | — | ||
| Q1 25 | 13.43× | 3.79× | ||
| Q4 24 | 3.32× | -0.36× | ||
| Q3 24 | 8.89× | 2.64× | ||
| Q2 24 | 4.45× | — | ||
| Q1 24 | 6.42× | 12.51× |
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% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
