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FIRST MERCHANTS CORP（FRME）与STURM RUGER & CO INC（RGR）财务数据对比。点击上方公司名可切换其他公司
FIRST MERCHANTS CORP的季度营收约是STURM RUGER & CO INC的1.0倍（$157.1M vs $151.1M），过去两年STURM RUGER & CO INC的营收复合增速更高（5.1% vs -0.9%）
第一商人集团是总部位于美国印第安纳州曼西的金融控股公司，业务覆盖印第安纳州中部地区，旗下拥有第一商人银行、第一商人私人财富顾问两大板块，在纳斯达克上市，股票代码为FRME。截至2023年3月，集团总资产达182亿美元，为客户提供商业银行、个人银行及投资顾问服务。
鲁格公司（Ruger）是总部位于美国康涅狄格州绍斯波特的枪械制造企业，除总部外，还在新罕布什尔州纽波特、北卡罗来纳州梅约丹以及亚利桑那州普雷斯科特设有生产工厂。公司由亚历山大·麦考密克·斯特姆与威廉·B·鲁格于1949年共同创立，自1969年起公开上市交易。
FRME vs RGR — 直观对比
营收规模更大
FRME
是对方的1.0倍
$151.1M
两年增速更快
RGR
近两年复合增速
-0.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $157.1M | $151.1M |
| 净利润 | $28.2M | — |
| 毛利率 | — | 17.8% |
| 营业利润率 | — | 2.3% |
| 净利率 | 17.9% | — |
| 营收同比 | — | 3.6% |
| 净利润同比 | -49.1% | — |
| 每股收益（稀释后） | $0.45 | $0.22 |
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FRMERGR
| Q1 26 | $157.1M | — | ||
| Q4 25 | $172.2M | $151.1M | ||
| Q3 25 | $166.1M | $126.8M | ||
| Q2 25 | $164.3M | $132.5M | ||
| Q1 25 | $160.3M | $135.7M | ||
| Q4 24 | $177.1M | $145.8M | ||
| Q3 24 | $156.0M | $122.3M | ||
| Q2 24 | $159.9M | $130.8M |
净利润FRMERGR
| Q1 26 | $28.2M | — | ||
| Q4 25 | $57.1M | — | ||
| Q3 25 | $56.8M | $1.6M | ||
| Q2 25 | $56.8M | $-17.2M | ||
| Q1 25 | $55.3M | $7.8M | ||
| Q4 24 | $64.3M | — | ||
| Q3 24 | $49.2M | $4.7M | ||
| Q2 24 | $39.9M | $8.3M |
毛利率FRMERGR
| Q1 26 | — | — | ||
| Q4 25 | — | 17.8% | ||
| Q3 25 | — | 15.1% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | 22.0% | ||
| Q4 24 | — | 22.8% | ||
| Q3 24 | — | 18.5% | ||
| Q2 24 | — | 22.3% |
营业利润率FRMERGR
| Q1 26 | — | — | ||
| Q4 25 | 38.0% | 2.3% | ||
| Q3 25 | 39.3% | -2.7% | ||
| Q2 25 | 39.6% | -15.6% | ||
| Q1 25 | 39.4% | 6.2% | ||
| Q4 24 | 43.3% | 7.8% | ||
| Q3 24 | 36.1% | 3.1% | ||
| Q2 24 | 27.5% | 6.9% |
净利率FRMERGR
| Q1 26 | 17.9% | — | ||
| Q4 25 | 33.1% | — | ||
| Q3 25 | 34.2% | 1.2% | ||
| Q2 25 | 34.6% | -13.0% | ||
| Q1 25 | 34.5% | 5.7% | ||
| Q4 24 | 36.3% | — | ||
| Q3 24 | 31.5% | 3.9% | ||
| Q2 24 | 25.0% | 6.3% |
每股收益（稀释后）FRMERGR
| Q1 26 | $0.45 | — | ||
| Q4 25 | $0.98 | $0.22 | ||
| Q3 25 | $0.98 | $0.10 | ||
| Q2 25 | $0.98 | $-1.05 | ||
| Q1 25 | $0.94 | $0.46 | ||
| Q4 24 | $1.09 | $0.62 | ||
| Q3 24 | $0.84 | $0.28 | ||
| Q2 24 | $0.68 | $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 | — | $92.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.7B | $283.8M |
| 总资产 | $21.1B | $342.0M |
| 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FRMERGR
| Q1 26 | — | — | ||
| Q4 25 | — | $92.5M | ||
| Q3 25 | — | $80.8M | ||
| Q2 25 | — | $101.4M | ||
| Q1 25 | — | $108.3M | ||
| Q4 24 | — | $105.5M | ||
| Q3 24 | — | $96.0M | ||
| Q2 24 | — | $105.6M |
股东权益FRMERGR
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.5B | $283.8M | ||
| Q3 25 | $2.4B | $279.6M | ||
| Q2 25 | $2.3B | $289.3M | ||
| Q1 25 | $2.3B | $321.5M | ||
| Q4 24 | $2.3B | $319.6M | ||
| Q3 24 | $2.3B | $314.9M | ||
| Q2 24 | $2.2B | $321.5M |
总资产FRMERGR
| Q1 26 | $21.1B | — | ||
| Q4 25 | $19.0B | $342.0M | ||
| Q3 25 | $18.8B | $342.3M | ||
| Q2 25 | $18.6B | $349.5M | ||
| Q1 25 | $18.4B | $379.0M | ||
| Q4 24 | $18.3B | $384.0M | ||
| Q3 24 | $18.3B | $373.5M | ||
| Q2 24 | $18.3B | $376.7M |
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 | — | $15.5M |
| 自由现金流经营现金流 - 资本支出 | — | $12.3M |
| 自由现金流率自由现金流/营收 | — | 8.2% |
| 资本支出强度资本支出/营收 | — | 2.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $38.5M |
8季度趋势，按日历期对齐
经营现金流FRMERGR
| Q1 26 | — | — | ||
| Q4 25 | $283.6M | $15.5M | ||
| Q3 25 | $87.6M | $12.9M | ||
| Q2 25 | $53.7M | $14.7M | ||
| Q1 25 | $61.7M | $11.1M | ||
| Q4 24 | $266.2M | $20.0M | ||
| Q3 24 | $76.8M | $9.4M | ||
| Q2 24 | $63.0M | $18.7M |
自由现金流FRMERGR
| Q1 26 | — | — | ||
| Q4 25 | — | $12.3M | ||
| Q3 25 | — | $7.0M | ||
| Q2 25 | — | $9.1M | ||
| Q1 25 | — | $10.0M | ||
| Q4 24 | — | $16.4M | ||
| Q3 24 | — | $2.6M | ||
| Q2 24 | — | $10.1M |
自由现金流率FRMERGR
| Q1 26 | — | — | ||
| Q4 25 | — | 8.2% | ||
| Q3 25 | — | 5.5% | ||
| Q2 25 | — | 6.9% | ||
| Q1 25 | — | 7.4% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | 7.7% |
资本支出强度FRMERGR
| Q1 26 | — | — | ||
| Q4 25 | — | 2.1% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 4.2% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 5.5% | ||
| Q2 24 | — | 6.6% |
现金转化率FRMERGR
| Q1 26 | — | — | ||
| Q4 25 | 4.97× | — | ||
| Q3 25 | 1.54× | 8.15× | ||
| Q2 25 | 0.94× | — | ||
| Q1 25 | 1.11× | 1.43× | ||
| Q4 24 | 4.14× | — | ||
| Q3 24 | 1.56× | 1.98× | ||
| Q2 24 | 1.58× | 2.27× |
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
FRME
| Net Interest Income | $151.3M | 96% |
| Noninterest Income | $5.8M | 4% |
RGR
| Firearms | $150.6M | 100% |
| Castings | $7.3M | 5% |
