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第一太阳能（FSLR）与IES Holdings, Inc.（IESC）财务数据对比。点击上方公司名可切换其他公司
第一太阳能的季度营收约是IES Holdings, Inc.的1.2倍（$1.0B vs $871.0M），第一太阳能净利率更高（33.2% vs 10.5%，领先22.7%），第一太阳能同比增速更快（23.6% vs 16.2%），过去两年IES Holdings, Inc.的营收复合增速更高（11.1% vs 1.7%）
第一太阳能是美国上市光伏面板制造商，1990年成立时名为Solar Cells, Inc.，1999年被True North Partners收购后改为现名。公司采用碲化镉（CdTe）半导体技术生产刚性薄膜光伏面板，旗下所有生产基地均提供退役面板回收服务。
IES Holdings, Inc.前身为Integrated Electrical Services, Inc.，主营业务为集成电气及技术系统的设计与安装，同时面向数据中心、住宅、商业和工业设施等多元终端市场提供基础设施类产品及相关服务。
FSLR vs IESC — 直观对比
营收规模更大
FSLR
是对方的1.2倍
$871.0M
营收增速更快
FSLR
高出7.4%
16.2%
净利率更高
FSLR
高出22.7%
10.5%
两年增速更快
IESC
近两年复合增速
1.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $871.0M |
| 净利润 | $346.6M | $91.8M |
| 毛利率 | 46.6% | 25.3% |
| 营业利润率 | 33.1% | 11.2% |
| 净利率 | 33.2% | 10.5% |
| 营收同比 | 23.6% | 16.2% |
| 净利润同比 | 65.4% | 59.1% |
| 每股收益（稀释后） | $3.22 | $4.51 |
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FSLRIESC
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.7B | $871.0M | ||
| Q3 25 | $1.6B | $897.8M | ||
| Q2 25 | $1.1B | $890.2M | ||
| Q1 25 | $844.6M | $834.0M | ||
| Q4 24 | $1.5B | $749.5M | ||
| Q3 24 | $887.7M | $775.8M | ||
| Q2 24 | $1.0B | $768.4M |
净利润FSLRIESC
| Q1 26 | $346.6M | — | ||
| Q4 25 | $520.9M | $91.8M | ||
| Q3 25 | $455.9M | $102.3M | ||
| Q2 25 | $341.9M | $79.3M | ||
| Q1 25 | $209.5M | $72.6M | ||
| Q4 24 | $393.1M | $57.7M | ||
| Q3 24 | $313.0M | $65.5M | ||
| Q2 24 | $349.4M | $66.6M |
毛利率FSLRIESC
| Q1 26 | 46.6% | — | ||
| Q4 25 | 39.5% | 25.3% | ||
| Q3 25 | 38.3% | 26.0% | ||
| Q2 25 | 45.6% | 26.9% | ||
| Q1 25 | 40.8% | 25.0% | ||
| Q4 24 | 37.5% | 23.8% | ||
| Q3 24 | 50.2% | 24.0% | ||
| Q2 24 | 49.4% | 25.3% |
营业利润率FSLRIESC
| Q1 26 | 33.1% | — | ||
| Q4 25 | 32.6% | 11.2% | ||
| Q3 25 | 29.2% | 11.6% | ||
| Q2 25 | 33.0% | 12.6% | ||
| Q1 25 | 26.2% | 11.1% | ||
| Q4 24 | 30.2% | 10.0% | ||
| Q3 24 | 36.3% | 9.7% | ||
| Q2 24 | 36.9% | 11.7% |
净利率FSLRIESC
| Q1 26 | 33.2% | — | ||
| Q4 25 | 31.0% | 10.5% | ||
| Q3 25 | 28.6% | 11.4% | ||
| Q2 25 | 31.2% | 8.9% | ||
| Q1 25 | 24.8% | 8.7% | ||
| Q4 24 | 26.0% | 7.7% | ||
| Q3 24 | 35.3% | 8.4% | ||
| Q2 24 | 34.6% | 8.7% |
每股收益（稀释后）FSLRIESC
| Q1 26 | $3.22 | — | ||
| Q4 25 | $4.84 | $4.51 | ||
| Q3 25 | $4.24 | $4.99 | ||
| Q2 25 | $3.18 | $3.81 | ||
| Q1 25 | $1.95 | $3.50 | ||
| Q4 24 | $3.66 | $2.72 | ||
| Q3 24 | $2.91 | $3.06 | ||
| Q2 24 | $3.25 | $2.67 |
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 | $2.4B | $258.7M |
| 总债务越低越好 | $425.8M | — |
| 股东权益账面价值 | $9.9B | $961.1M |
| 总资产 | $13.4B | $1.7B |
| 负债/权益比越低杠杆越低 | 0.04× | — |
8季度趋势，按日历期对齐
现金及短期投资FSLRIESC
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.8B | $258.7M | ||
| Q3 25 | $2.0B | $231.8M | ||
| Q2 25 | $1.1B | $168.3M | ||
| Q1 25 | $837.6M | $88.3M | ||
| Q4 24 | $1.6B | $112.0M | ||
| Q3 24 | $1.0B | $135.8M | ||
| Q2 24 | $1.7B | $44.9M |
总债务FSLRIESC
| Q1 26 | $425.8M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FSLRIESC
| Q1 26 | $9.9B | — | ||
| Q4 25 | $9.5B | $961.1M | ||
| Q3 25 | $9.0B | $884.0M | ||
| Q2 25 | $8.5B | $781.4M | ||
| Q1 25 | $8.2B | $705.8M | ||
| Q4 24 | $8.0B | $652.4M | ||
| Q3 24 | $7.6B | $611.1M | ||
| Q2 24 | $7.3B | $567.5M |
总资产FSLRIESC
| Q1 26 | $13.4B | — | ||
| Q4 25 | $13.3B | $1.7B | ||
| Q3 25 | $13.5B | $1.6B | ||
| Q2 25 | $12.9B | $1.5B | ||
| Q1 25 | $12.1B | $1.4B | ||
| Q4 24 | $12.1B | $1.3B | ||
| Q3 24 | $11.4B | $1.2B | ||
| Q2 24 | $11.0B | $1.2B |
负债/权益比FSLRIESC
| Q1 26 | 0.04× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $-214.9M | $27.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-18.9M |
| 自由现金流率自由现金流/营收 | — | -2.2% |
| 资本支出强度资本支出/营收 | — | 5.3% |
| 现金转化率经营现金流/净利润 | -0.62× | 0.30× |
| 过去12个月自由现金流最近4个季度 | — | $175.9M |
8季度趋势，按日历期对齐
经营现金流FSLRIESC
| Q1 26 | $-214.9M | — | ||
| Q4 25 | $1.2B | $27.7M | ||
| Q3 25 | $1.3B | $132.0M | ||
| Q2 25 | $149.6M | $92.0M | ||
| Q1 25 | $-608.0M | $24.8M | ||
| Q4 24 | $811.0M | $37.3M | ||
| Q3 24 | $-53.7M | $92.8M | ||
| Q2 24 | $193.0M | $82.9M |
自由现金流FSLRIESC
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $-18.9M | ||
| Q3 25 | $1.1B | $112.0M | ||
| Q2 25 | $-138.6M | $74.8M | ||
| Q1 25 | $-813.9M | $7.9M | ||
| Q4 24 | $497.5M | $24.1M | ||
| Q3 24 | $-487.7M | $78.5M | ||
| Q2 24 | $-172.1M | $65.4M |
自由现金流率FSLRIESC
| Q1 26 | — | — | ||
| Q4 25 | 63.6% | -2.2% | ||
| Q3 25 | 67.1% | 12.5% | ||
| Q2 25 | -12.6% | 8.4% | ||
| Q1 25 | -96.4% | 0.9% | ||
| Q4 24 | 32.9% | 3.2% | ||
| Q3 24 | -54.9% | 10.1% | ||
| Q2 24 | -17.0% | 8.5% |
资本支出强度FSLRIESC
| Q1 26 | — | — | ||
| Q4 25 | 10.2% | 5.3% | ||
| Q3 25 | 12.8% | 2.2% | ||
| Q2 25 | 26.3% | 1.9% | ||
| Q1 25 | 24.4% | 2.0% | ||
| Q4 24 | 20.7% | 1.8% | ||
| Q3 24 | 48.9% | 1.8% | ||
| Q2 24 | 36.1% | 2.3% |
现金转化率FSLRIESC
| Q1 26 | -0.62× | — | ||
| Q4 25 | 2.38× | 0.30× | ||
| Q3 25 | 2.79× | 1.29× | ||
| Q2 25 | 0.44× | 1.16× | ||
| Q1 25 | -2.90× | 0.34× | ||
| Q4 24 | 2.06× | 0.65× | ||
| Q3 24 | -0.17× | 1.42× | ||
| Q2 24 | 0.55× | 1.24× |
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
FSLR
暂无分部数据
IESC
| Communications | $351.9M | 40% |
| Single Family Electrical Contracts | $137.0M | 16% |
| Custom Engineered Solutions | $116.0M | 13% |
| Commercialand Industrial | $94.8M | 11% |
| Single Family Contracts Plumbing HVAC | $82.9M | 10% |
| Multi Familyand Other | $64.2M | 7% |
| Industrial Services | $24.2M | 3% |
