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合众银行（FSBC）与System1, Inc.（SST）财务数据对比。点击上方公司名可切换其他公司
System1, Inc.的季度营收约是合众银行的1.2倍（$51.9M vs $45.1M），合众银行净利率更高（41.3% vs -26.0%，领先67.2%），过去两年合众银行的营收复合增速更高（21.3% vs -21.8%）
合众银行是总部设在美国明尼阿波利斯、在特拉华州注册的美国跨国银行机构，截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为具有系统重要性的银行。它旗下核心运营实体为美国银行全国协会，以US Bank品牌开展业务，提供银行、投资、抵押等金融服务。
System1是一家美国互联网广告企业，成立于2013年，前身为OpenMail，总部位于加利福尼亚州玛丽娜德尔雷。该公司主打获客响应营销平台业务，将隐私保护作为核心经营重点之一，但也曾因对Startpage.com等主打隐私的平台的影响受到批评。
FSBC vs SST — 直观对比
营收规模更大
SST
是对方的1.2倍
$45.1M
净利率更高
FSBC
高出67.2%
-26.0%
两年增速更快
FSBC
近两年复合增速
-21.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $45.1M | $51.9M |
| 净利润 | $18.6M | $-13.5M |
| 毛利率 | — | 41.0% |
| 营业利润率 | — | -33.6% |
| 净利率 | 41.3% | -26.0% |
| 营收同比 | — | -31.3% |
| 净利润同比 | 42.0% | 4.8% |
| 每股收益（稀释后） | $0.87 | $-3.58 |
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FSBCSST
| Q1 26 | $45.1M | — | ||
| Q4 25 | $43.5M | $51.9M | ||
| Q3 25 | $41.3M | $61.6M | ||
| Q2 25 | $38.3M | $78.1M | ||
| Q1 25 | $35.3M | $74.5M | ||
| Q4 24 | $35.2M | $75.6M | ||
| Q3 24 | $31.8M | $88.8M | ||
| Q2 24 | $30.7M | $94.6M |
净利润FSBCSST
| Q1 26 | $18.6M | — | ||
| Q4 25 | $17.6M | $-13.5M | ||
| Q3 25 | $16.3M | $-18.5M | ||
| Q2 25 | $14.5M | $-17.5M | ||
| Q1 25 | $13.1M | $-15.9M | ||
| Q4 24 | $13.3M | $-14.2M | ||
| Q3 24 | $10.9M | $-23.6M | ||
| Q2 24 | $10.8M | $-26.4M |
毛利率FSBCSST
| Q1 26 | — | — | ||
| Q4 25 | — | 41.0% | ||
| Q3 25 | — | 36.9% | ||
| Q2 25 | — | 35.7% | ||
| Q1 25 | — | 38.2% | ||
| Q4 24 | — | 42.1% | ||
| Q3 24 | — | 28.0% | ||
| Q2 24 | — | 27.6% |
营业利润率FSBCSST
| Q1 26 | — | — | ||
| Q4 25 | 52.9% | -33.6% | ||
| Q3 25 | 53.8% | -25.3% | ||
| Q2 25 | 52.4% | -20.4% | ||
| Q1 25 | 52.0% | -17.6% | ||
| Q4 24 | 55.1% | -15.7% | ||
| Q3 24 | 48.0% | -24.6% | ||
| Q2 24 | 49.4% | -30.8% |
净利率FSBCSST
| Q1 26 | 41.3% | — | ||
| Q4 25 | 40.6% | -26.0% | ||
| Q3 25 | 39.6% | -30.1% | ||
| Q2 25 | 37.9% | -22.4% | ||
| Q1 25 | 37.1% | -21.3% | ||
| Q4 24 | 37.9% | -18.7% | ||
| Q3 24 | 34.4% | -26.6% | ||
| Q2 24 | 35.2% | -27.9% |
每股收益（稀释后）FSBCSST
| Q1 26 | $0.87 | — | ||
| Q4 25 | $0.83 | $-3.58 | ||
| Q3 25 | $0.77 | $-2.30 | ||
| Q2 25 | $0.68 | $-2.23 | ||
| Q1 25 | $0.62 | $-0.21 | ||
| Q4 24 | $0.61 | $-3.41 | ||
| Q3 24 | $0.52 | $-3.37 | ||
| Q2 24 | $0.51 | $-3.80 |
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 | $644.4M | $86.9M |
| 总债务越低越好 | — | $305.1M |
| 股东权益账面价值 | $458.5M | $30.5M |
| 总资产 | $5.0B | $405.0M |
| 负债/权益比越低杠杆越低 | — | 10.01× |
8季度趋势，按日历期对齐
现金及短期投资FSBCSST
| Q1 26 | $644.4M | — | ||
| Q4 25 | — | $86.9M | ||
| Q3 25 | — | $54.6M | ||
| Q2 25 | — | $63.6M | ||
| Q1 25 | — | $43.9M | ||
| Q4 24 | — | $63.6M | ||
| Q3 24 | — | $69.1M | ||
| Q2 24 | — | $75.7M |
总债务FSBCSST
| Q1 26 | — | — | ||
| Q4 25 | — | $305.1M | ||
| Q3 25 | — | $259.2M | ||
| Q2 25 | — | $263.3M | ||
| Q1 25 | — | $267.4M | ||
| Q4 24 | — | $255.1M | ||
| Q3 24 | — | $259.2M | ||
| Q2 24 | — | $263.3M |
股东权益FSBCSST
| Q1 26 | $458.5M | — | ||
| Q4 25 | $445.8M | $30.5M | ||
| Q3 25 | $431.3M | $42.7M | ||
| Q2 25 | $416.7M | $58.2M | ||
| Q1 25 | $406.5M | $67.2M | ||
| Q4 24 | $396.6M | $80.3M | ||
| Q3 24 | $389.9M | $90.3M | ||
| Q2 24 | $380.5M | $109.4M |
总资产FSBCSST
| Q1 26 | $5.0B | — | ||
| Q4 25 | $4.8B | $405.0M | ||
| Q3 25 | $4.6B | $385.2M | ||
| Q2 25 | $4.4B | $429.2M | ||
| Q1 25 | $4.2B | $419.2M | ||
| Q4 24 | $4.1B | $459.1M | ||
| Q3 24 | $3.9B | $479.3M | ||
| Q2 24 | $3.6B | $511.3M |
负债/权益比FSBCSST
| Q1 26 | — | — | ||
| Q4 25 | — | 10.01× | ||
| Q3 25 | — | 6.07× | ||
| Q2 25 | — | 4.53× | ||
| Q1 25 | — | 3.98× | ||
| Q4 24 | — | 3.18× | ||
| Q3 24 | — | 2.87× | ||
| Q2 24 | — | 2.41× |
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 | — | $-10.6M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | 0.0% |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流FSBCSST
| Q1 26 | — | — | ||
| Q4 25 | $72.6M | $-10.6M | ||
| Q3 25 | $18.8M | $-2.1M | ||
| Q2 25 | $17.8M | $24.5M | ||
| Q1 25 | $15.5M | $-15.9M | ||
| Q4 24 | $51.8M | $772.0K | ||
| Q3 24 | $17.5M | $-5.0K | ||
| Q2 24 | $16.0M | $10.0M |
自由现金流FSBCSST
| Q1 26 | — | — | ||
| Q4 25 | $71.4M | — | ||
| Q3 25 | $18.6M | — | ||
| Q2 25 | $17.5M | — | ||
| Q1 25 | $15.4M | $-16.0M | ||
| Q4 24 | $51.2M | — | ||
| Q3 24 | $17.3M | $-36.0K | ||
| Q2 24 | $15.8M | — |
自由现金流率FSBCSST
| Q1 26 | — | — | ||
| Q4 25 | 164.3% | — | ||
| Q3 25 | 45.0% | — | ||
| Q2 25 | 45.8% | — | ||
| Q1 25 | 43.5% | -21.5% | ||
| Q4 24 | 145.5% | — | ||
| Q3 24 | 54.5% | -0.0% | ||
| Q2 24 | 51.6% | — |
资本支出强度FSBCSST
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 0.0% | ||
| Q3 25 | 0.5% | 0.0% | ||
| Q2 25 | 0.6% | 0.0% | ||
| Q1 25 | 0.3% | 0.1% | ||
| Q4 24 | 1.8% | 0.0% | ||
| Q3 24 | 0.7% | 0.0% | ||
| Q2 24 | 0.7% | 0.0% |
现金转化率FSBCSST
| Q1 26 | — | — | ||
| Q4 25 | 4.12× | — | ||
| Q3 25 | 1.15× | — | ||
| Q2 25 | 1.23× | — | ||
| Q1 25 | 1.18× | — | ||
| Q4 24 | 3.89× | — | ||
| Q3 24 | 1.60× | — | ||
| Q2 24 | 1.49× | — |
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
FSBC
| Net Interest Income | $43.5M | 96% |
| Noninterest Income | $1.6M | 4% |
SST
暂无分部数据
