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FIRST MERCHANTS CORP（FRME）与GIBRALTAR INDUSTRIES, INC.（ROCK）财务数据对比。点击上方公司名可切换其他公司
GIBRALTAR INDUSTRIES, INC.的季度营收约是FIRST MERCHANTS CORP的1.4倍（$225.0M vs $157.1M），过去两年FIRST MERCHANTS CORP的营收复合增速更高（-0.9% vs -12.3%）
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。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
FRME vs ROCK — 直观对比
营收规模更大
ROCK
是对方的1.4倍
$157.1M
两年增速更快
FRME
近两年复合增速
-12.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $157.1M | $225.0M |
| 净利润 | $28.2M | — |
| 毛利率 | — | 25.3% |
| 营业利润率 | — | 7.9% |
| 净利率 | 17.9% | — |
| 营收同比 | — | 24.9% |
| 净利润同比 | -49.1% | — |
| 每股收益（稀释后） | $0.45 | — |
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FRMEROCK
| Q1 26 | $157.1M | — | ||
| Q4 25 | $172.2M | $225.0M | ||
| Q3 25 | $166.1M | $310.9M | ||
| Q2 25 | $164.3M | $309.5M | ||
| Q1 25 | $160.3M | $290.0M | ||
| Q4 24 | $177.1M | $180.1M | ||
| Q3 24 | $156.0M | $277.1M | ||
| Q2 24 | $159.9M | $273.6M |
净利润FRMEROCK
| Q1 26 | $28.2M | — | ||
| Q4 25 | $57.1M | — | ||
| Q3 25 | $56.8M | $-89.1M | ||
| Q2 25 | $56.8M | $26.0M | ||
| Q1 25 | $55.3M | $21.1M | ||
| Q4 24 | $64.3M | — | ||
| Q3 24 | $49.2M | $34.0M | ||
| Q2 24 | $39.9M | $32.2M |
毛利率FRMEROCK
| Q1 26 | — | — | ||
| Q4 25 | — | 25.3% | ||
| Q3 25 | — | 26.6% | ||
| Q2 25 | — | 28.4% | ||
| Q1 25 | — | 26.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 30.5% |
营业利润率FRMEROCK
| Q1 26 | — | — | ||
| Q4 25 | 38.0% | 7.9% | ||
| Q3 25 | 39.3% | 12.8% | ||
| Q2 25 | 39.6% | 12.8% | ||
| Q1 25 | 39.4% | 8.8% | ||
| Q4 24 | 43.3% | 13.3% | ||
| Q3 24 | 36.1% | 15.6% | ||
| Q2 24 | 27.5% | 14.9% |
净利率FRMEROCK
| Q1 26 | 17.9% | — | ||
| Q4 25 | 33.1% | — | ||
| Q3 25 | 34.2% | -28.6% | ||
| Q2 25 | 34.6% | 8.4% | ||
| Q1 25 | 34.5% | 7.3% | ||
| Q4 24 | 36.3% | — | ||
| Q3 24 | 31.5% | 12.3% | ||
| Q2 24 | 25.0% | 11.8% |
每股收益（稀释后）FRMEROCK
| Q1 26 | $0.45 | — | ||
| Q4 25 | $0.98 | — | ||
| Q3 25 | $0.98 | $-2.98 | ||
| Q2 25 | $0.98 | $0.87 | ||
| Q1 25 | $0.94 | — | ||
| Q4 24 | $1.09 | — | ||
| Q3 24 | $0.84 | $1.11 | ||
| Q2 24 | $0.68 | $1.05 |
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 | — | $115.7M |
| 总债务越低越好 | — | $0 |
| 股东权益账面价值 | $2.7B | $950.4M |
| 总资产 | $21.1B | $1.4B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资FRMEROCK
| Q1 26 | — | — | ||
| Q4 25 | — | $115.7M | ||
| Q3 25 | — | $89.4M | ||
| Q2 25 | — | $43.3M | ||
| Q1 25 | — | $25.1M | ||
| Q4 24 | — | $269.5M | ||
| Q3 24 | — | $228.9M | ||
| Q2 24 | — | $179.1M |
总债务FRMEROCK
| Q1 26 | — | — | ||
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 |
股东权益FRMEROCK
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.5B | $950.4M | ||
| Q3 25 | $2.4B | $951.8M | ||
| Q2 25 | $2.3B | $1.0B | ||
| Q1 25 | $2.3B | $1.0B | ||
| Q4 24 | $2.3B | $1.0B | ||
| Q3 24 | $2.3B | $1.0B | ||
| Q2 24 | $2.2B | $975.7M |
总资产FRMEROCK
| Q1 26 | $21.1B | — | ||
| Q4 25 | $19.0B | $1.4B | ||
| Q3 25 | $18.8B | $1.4B | ||
| Q2 25 | $18.6B | $1.5B | ||
| Q1 25 | $18.4B | $1.4B | ||
| Q4 24 | $18.3B | $1.4B | ||
| Q3 24 | $18.3B | $1.4B | ||
| Q2 24 | $18.3B | $1.4B |
负债/权益比FRMEROCK
| Q1 26 | — | — | ||
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× |
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 | — | $35.5M |
| 自由现金流经营现金流 - 资本支出 | — | $26.2M |
| 自由现金流率自由现金流/营收 | — | 11.7% |
| 资本支出强度资本支出/营收 | — | 4.1% |
| 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 | — | $120.6M |
8季度趋势，按日历期对齐
经营现金流FRMEROCK
| Q1 26 | — | — | ||
| Q4 25 | $283.6M | $35.5M | ||
| Q3 25 | $87.6M | $73.0M | ||
| Q2 25 | $53.7M | $44.9M | ||
| Q1 25 | $61.7M | $13.7M | ||
| Q4 24 | $266.2M | $19.9M | ||
| Q3 24 | $76.8M | $64.7M | ||
| Q2 24 | $63.0M | $36.5M |
自由现金流FRMEROCK
| Q1 26 | — | — | ||
| Q4 25 | — | $26.2M | ||
| Q3 25 | — | $64.8M | ||
| Q2 25 | — | $27.3M | ||
| Q1 25 | — | $2.3M | ||
| Q4 24 | — | $14.1M | ||
| Q3 24 | — | $60.5M | ||
| Q2 24 | — | $33.5M |
自由现金流率FRMEROCK
| Q1 26 | — | — | ||
| Q4 25 | — | 11.7% | ||
| Q3 25 | — | 20.8% | ||
| Q2 25 | — | 8.8% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | — | 12.2% |
资本支出强度FRMEROCK
| Q1 26 | — | — | ||
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 5.7% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.1% |
现金转化率FRMEROCK
| Q1 26 | — | — | ||
| Q4 25 | 4.97× | — | ||
| Q3 25 | 1.54× | — | ||
| Q2 25 | 0.94× | 1.73× | ||
| Q1 25 | 1.11× | 0.65× | ||
| Q4 24 | 4.14× | — | ||
| Q3 24 | 1.56× | 1.90× | ||
| Q2 24 | 1.58× | 1.13× |
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% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
