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第一太阳能（FSLR）与朗美通（LITE）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朗美通的1.6倍（$1.0B vs $665.5M），第一太阳能净利率更高（33.2% vs 11.8%，领先21.4%），朗美通同比增速更快（65.5% vs 23.6%），过去两年朗美通的营收复合增速更高（34.8% 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。
朗美通控股（Lumentum Holdings Inc.）是全球知名光电产品供应商，前身为美国捷迪讯（JDSU）旗下光电器件及激光业务板块，2015年8月随捷迪讯分拆独立运营，总部位于美国加利福尼亚州米尔皮塔斯，主营光通信网络设备、激光器、定制光学解决方案等多元产品。
FSLR vs LITE — 直观对比
营收规模更大
FSLR
是对方的1.6倍
$665.5M
营收增速更快
LITE
高出41.8%
23.6%
净利率更高
FSLR
高出21.4%
11.8%
两年增速更快
LITE
近两年复合增速
1.7%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $665.5M |
| 净利润 | $346.6M | $78.2M |
| 毛利率 | 46.6% | 36.1% |
| 营业利润率 | 33.1% | 9.7% |
| 净利率 | 33.2% | 11.8% |
| 营收同比 | 23.6% | 65.5% |
| 净利润同比 | 65.4% | 228.4% |
| 每股收益（稀释后） | $3.22 | $0.89 |
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FSLRLITE
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.7B | $665.5M | ||
| Q3 25 | $1.6B | $533.8M | ||
| Q2 25 | $1.1B | $480.7M | ||
| Q1 25 | $844.6M | $425.2M | ||
| Q4 24 | $1.5B | $402.2M | ||
| Q3 24 | $887.7M | $336.9M | ||
| Q2 24 | $1.0B | $308.3M |
净利润FSLRLITE
| Q1 26 | $346.6M | — | ||
| Q4 25 | $520.9M | $78.2M | ||
| Q3 25 | $455.9M | $4.2M | ||
| Q2 25 | $341.9M | $213.3M | ||
| Q1 25 | $209.5M | $-44.1M | ||
| Q4 24 | $393.1M | $-60.9M | ||
| Q3 24 | $313.0M | $-82.4M | ||
| Q2 24 | $349.4M | $-252.5M |
毛利率FSLRLITE
| Q1 26 | 46.6% | — | ||
| Q4 25 | 39.5% | 36.1% | ||
| Q3 25 | 38.3% | 34.0% | ||
| Q2 25 | 45.6% | 33.3% | ||
| Q1 25 | 40.8% | 28.8% | ||
| Q4 24 | 37.5% | 24.8% | ||
| Q3 24 | 50.2% | 23.1% | ||
| Q2 24 | 49.4% | 16.6% |
营业利润率FSLRLITE
| Q1 26 | 33.1% | — | ||
| Q4 25 | 32.6% | 9.7% | ||
| Q3 25 | 29.2% | 1.3% | ||
| Q2 25 | 33.0% | -1.7% | ||
| Q1 25 | 26.2% | -8.9% | ||
| Q4 24 | 30.2% | -12.8% | ||
| Q3 24 | 36.3% | -24.5% | ||
| Q2 24 | 36.9% | -43.3% |
净利率FSLRLITE
| Q1 26 | 33.2% | — | ||
| Q4 25 | 31.0% | 11.8% | ||
| Q3 25 | 28.6% | 0.8% | ||
| Q2 25 | 31.2% | 44.4% | ||
| Q1 25 | 24.8% | -10.4% | ||
| Q4 24 | 26.0% | -15.1% | ||
| Q3 24 | 35.3% | -24.5% | ||
| Q2 24 | 34.6% | -81.9% |
每股收益（稀释后）FSLRLITE
| Q1 26 | $3.22 | — | ||
| Q4 25 | $4.84 | $0.89 | ||
| Q3 25 | $4.24 | $0.05 | ||
| Q2 25 | $3.18 | $3.10 | ||
| Q1 25 | $1.95 | $-0.64 | ||
| Q4 24 | $3.66 | $-0.88 | ||
| Q3 24 | $2.91 | $-1.21 | ||
| Q2 24 | $3.25 | $-3.75 |
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 | $1.2B |
| 总债务越低越好 | $425.8M | — |
| 股东权益账面价值 | $9.9B | $846.6M |
| 总资产 | $13.4B | $4.8B |
| 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FSLRLITE
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.8B | $1.2B | ||
| Q3 25 | $2.0B | $1.1B | ||
| Q2 25 | $1.1B | $877.1M | ||
| Q1 25 | $837.6M | $866.7M | ||
| Q4 24 | $1.6B | $896.7M | ||
| Q3 24 | $1.0B | $916.1M | ||
| Q2 24 | $1.7B | $887.0M |
总债务FSLRLITE
| Q1 26 | $425.8M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FSLRLITE
| Q1 26 | $9.9B | — | ||
| Q4 25 | $9.5B | $846.6M | ||
| Q3 25 | $9.0B | $780.8M | ||
| Q2 25 | $8.5B | $1.1B | ||
| Q1 25 | $8.2B | $879.5M | ||
| Q4 24 | $8.0B | $872.3M | ||
| Q3 24 | $7.6B | $895.9M | ||
| Q2 24 | $7.3B | $957.3M |
总资产FSLRLITE
| Q1 26 | $13.4B | — | ||
| Q4 25 | $13.3B | $4.8B | ||
| Q3 25 | $13.5B | $4.6B | ||
| Q2 25 | $12.9B | $4.2B | ||
| Q1 25 | $12.1B | $4.0B | ||
| Q4 24 | $12.1B | $4.0B | ||
| Q3 24 | $11.4B | $4.0B | ||
| Q2 24 | $11.0B | $3.9B |
负债/权益比FSLRLITE
| 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 | $126.7M |
| 自由现金流经营现金流 - 资本支出 | — | $43.1M |
| 自由现金流率自由现金流/营收 | — | 6.5% |
| 资本支出强度资本支出/营收 | — | 12.6% |
| 现金转化率经营现金流/净利润 | -0.62× | 1.62× |
| 过去12个月自由现金流最近4个季度 | — | $-29.5M |
8季度趋势，按日历期对齐
经营现金流FSLRLITE
| Q1 26 | $-214.9M | — | ||
| Q4 25 | $1.2B | $126.7M | ||
| Q3 25 | $1.3B | $57.9M | ||
| Q2 25 | $149.6M | $64.0M | ||
| Q1 25 | $-608.0M | $-1.6M | ||
| Q4 24 | $811.0M | $24.3M | ||
| Q3 24 | $-53.7M | $39.6M | ||
| Q2 24 | $193.0M | $35.5M |
自由现金流FSLRLITE
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $43.1M | ||
| Q3 25 | $1.1B | $-18.3M | ||
| Q2 25 | $-138.6M | $10.1M | ||
| Q1 25 | $-813.9M | $-64.4M | ||
| Q4 24 | $497.5M | $-15.9M | ||
| Q3 24 | $-487.7M | $-34.5M | ||
| Q2 24 | $-172.1M | $10.9M |
自由现金流率FSLRLITE
| Q1 26 | — | — | ||
| Q4 25 | 63.6% | 6.5% | ||
| Q3 25 | 67.1% | -3.4% | ||
| Q2 25 | -12.6% | 2.1% | ||
| Q1 25 | -96.4% | -15.1% | ||
| Q4 24 | 32.9% | -4.0% | ||
| Q3 24 | -54.9% | -10.2% | ||
| Q2 24 | -17.0% | 3.5% |
资本支出强度FSLRLITE
| Q1 26 | — | — | ||
| Q4 25 | 10.2% | 12.6% | ||
| Q3 25 | 12.8% | 14.3% | ||
| Q2 25 | 26.3% | 11.2% | ||
| Q1 25 | 24.4% | 14.8% | ||
| Q4 24 | 20.7% | 10.0% | ||
| Q3 24 | 48.9% | 22.0% | ||
| Q2 24 | 36.1% | 8.0% |
现金转化率FSLRLITE
| Q1 26 | -0.62× | — | ||
| Q4 25 | 2.38× | 1.62× | ||
| Q3 25 | 2.79× | 13.79× | ||
| Q2 25 | 0.44× | 0.30× | ||
| Q1 25 | -2.90× | — | ||
| Q4 24 | 2.06× | — | ||
| Q3 24 | -0.17× | — | ||
| Q2 24 | 0.55× | — |
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
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
