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第一太阳能（FSLR）与Masco（MAS）财务数据对比。点击上方公司名可切换其他公司
Masco的季度营收约是第一太阳能的1.8倍（$1.9B vs $1.0B），第一太阳能净利率更高（33.2% vs 11.9%，领先21.3%），第一太阳能同比增速更快（23.6% vs 6.5%），过去两年第一太阳能的营收复合增速更高（1.7% vs -4.2%）
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。
美国家居建材企业Masco主营家装及新建住宅市场相关产品，旗下拥有20余家子公司，在全球运营近80座生产工厂，其中美国本土近60座，海外地区超20座。公司1969年于纽交所挂牌上市，后实现快速增长，成功跻身美国财富500强榜单。
FSLR vs MAS — 直观对比
营收规模更大
MAS
是对方的1.8倍
$1.0B
营收增速更快
FSLR
高出17.1%
6.5%
净利率更高
FSLR
高出21.3%
11.9%
两年增速更快
FSLR
近两年复合增速
-4.2%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.9B |
| 净利润 | $346.6M | $228.0M |
| 毛利率 | 46.6% | 35.8% |
| 营业利润率 | 33.1% | 16.5% |
| 净利率 | 33.2% | 11.9% |
| 营收同比 | 23.6% | 6.5% |
| 净利润同比 | 65.4% | 14.5% |
| 每股收益（稀释后） | $3.22 | — |
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FSLRMAS
| Q1 26 | $1.0B | $1.9B | ||
| Q4 25 | $1.7B | $1.8B | ||
| Q3 25 | $1.6B | $1.9B | ||
| Q2 25 | $1.1B | $2.1B | ||
| Q1 25 | $844.6M | $1.8B | ||
| Q4 24 | $1.5B | $1.8B | ||
| Q3 24 | $887.7M | $2.0B | ||
| Q2 24 | $1.0B | $2.1B |
净利润FSLRMAS
| Q1 26 | $346.6M | $228.0M | ||
| Q4 25 | $520.9M | $165.0M | ||
| Q3 25 | $455.9M | $189.0M | ||
| Q2 25 | $341.9M | $270.0M | ||
| Q1 25 | $209.5M | $186.0M | ||
| Q4 24 | $393.1M | $182.0M | ||
| Q3 24 | $313.0M | $167.0M | ||
| Q2 24 | $349.4M | $258.0M |
毛利率FSLRMAS
| Q1 26 | 46.6% | 35.8% | ||
| Q4 25 | 39.5% | 33.9% | ||
| Q3 25 | 38.3% | 34.2% | ||
| Q2 25 | 45.6% | 37.6% | ||
| Q1 25 | 40.8% | 35.8% | ||
| Q4 24 | 37.5% | 34.8% | ||
| Q3 24 | 50.2% | 36.6% | ||
| Q2 24 | 49.4% | 37.5% |
营业利润率FSLRMAS
| Q1 26 | 33.1% | 16.5% | ||
| Q4 25 | 32.6% | 13.8% | ||
| Q3 25 | 29.2% | 15.8% | ||
| Q2 25 | 33.0% | 20.1% | ||
| Q1 25 | 26.2% | 15.9% | ||
| Q4 24 | 30.2% | 15.9% | ||
| Q3 24 | 36.3% | 18.0% | ||
| Q2 24 | 36.9% | 19.0% |
净利率FSLRMAS
| Q1 26 | 33.2% | 11.9% | ||
| Q4 25 | 31.0% | 9.2% | ||
| Q3 25 | 28.6% | 9.9% | ||
| Q2 25 | 31.2% | 13.2% | ||
| Q1 25 | 24.8% | 10.3% | ||
| Q4 24 | 26.0% | 10.0% | ||
| Q3 24 | 35.3% | 8.4% | ||
| Q2 24 | 34.6% | 12.3% |
每股收益（稀释后）FSLRMAS
| Q1 26 | $3.22 | — | ||
| Q4 25 | $4.84 | $0.81 | ||
| Q3 25 | $4.24 | $0.90 | ||
| Q2 25 | $3.18 | $1.28 | ||
| Q1 25 | $1.95 | $0.87 | ||
| Q4 24 | $3.66 | $0.85 | ||
| Q3 24 | $2.91 | $0.77 | ||
| Q2 24 | $3.25 | $1.17 |
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 | — |
| 总债务越低越好 | $425.8M | $2.9B |
| 股东权益账面价值 | $9.9B | $27.0M |
| 总资产 | $13.4B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.04× | 109.07× |
8季度趋势，按日历期对齐
现金及短期投资FSLRMAS
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.8B | $647.0M | ||
| Q3 25 | $2.0B | $559.0M | ||
| Q2 25 | $1.1B | $390.0M | ||
| Q1 25 | $837.6M | $377.0M | ||
| Q4 24 | $1.6B | $634.0M | ||
| Q3 24 | $1.0B | $646.0M | ||
| Q2 24 | $1.7B | $398.0M |
总债务FSLRMAS
| Q1 26 | $425.8M | $2.9B | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FSLRMAS
| Q1 26 | $9.9B | $27.0M | ||
| Q4 25 | $9.5B | $-185.0M | ||
| Q3 25 | $9.0B | $-78.0M | ||
| Q2 25 | $8.5B | $-84.0M | ||
| Q1 25 | $8.2B | $-254.0M | ||
| Q4 24 | $8.0B | $-279.0M | ||
| Q3 24 | $7.6B | $-88.0M | ||
| Q2 24 | $7.3B | $-26.0M |
总资产FSLRMAS
| Q1 26 | $13.4B | $5.2B | ||
| Q4 25 | $13.3B | $5.2B | ||
| Q3 25 | $13.5B | $5.3B | ||
| Q2 25 | $12.9B | $5.3B | ||
| Q1 25 | $12.1B | $5.1B | ||
| Q4 24 | $12.1B | $5.0B | ||
| Q3 24 | $11.4B | $5.3B | ||
| Q2 24 | $11.0B | $5.4B |
负债/权益比FSLRMAS
| Q1 26 | 0.04× | 109.07× | ||
| 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 | — |
| 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 | — | 1.8% |
| 现金转化率经营现金流/净利润 | -0.62× | — |
| 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FSLRMAS
| Q1 26 | $-214.9M | — | ||
| Q4 25 | $1.2B | $418.0M | ||
| Q3 25 | $1.3B | $456.0M | ||
| Q2 25 | $149.6M | $306.0M | ||
| Q1 25 | $-608.0M | $-158.0M | ||
| Q4 24 | $811.0M | $407.0M | ||
| Q3 24 | $-53.7M | $416.0M | ||
| Q2 24 | $193.0M | $346.0M |
自由现金流FSLRMAS
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $371.0M | ||
| Q3 25 | $1.1B | $415.0M | ||
| Q2 25 | $-138.6M | $270.0M | ||
| Q1 25 | $-813.9M | $-190.0M | ||
| Q4 24 | $497.5M | $351.0M | ||
| Q3 24 | $-487.7M | $378.0M | ||
| Q2 24 | $-172.1M | $303.0M |
自由现金流率FSLRMAS
| Q1 26 | — | — | ||
| Q4 25 | 63.6% | 20.7% | ||
| Q3 25 | 67.1% | 21.6% | ||
| Q2 25 | -12.6% | 13.2% | ||
| Q1 25 | -96.4% | -10.5% | ||
| Q4 24 | 32.9% | 19.2% | ||
| Q3 24 | -54.9% | 19.1% | ||
| Q2 24 | -17.0% | 14.5% |
资本支出强度FSLRMAS
| Q1 26 | — | 1.8% | ||
| Q4 25 | 10.2% | 2.6% | ||
| Q3 25 | 12.8% | 2.1% | ||
| Q2 25 | 26.3% | 1.8% | ||
| Q1 25 | 24.4% | 1.8% | ||
| Q4 24 | 20.7% | 3.1% | ||
| Q3 24 | 48.9% | 1.9% | ||
| Q2 24 | 36.1% | 2.1% |
现金转化率FSLRMAS
| Q1 26 | -0.62× | — | ||
| Q4 25 | 2.38× | 2.53× | ||
| Q3 25 | 2.79× | 2.41× | ||
| Q2 25 | 0.44× | 1.13× | ||
| Q1 25 | -2.90× | -0.85× | ||
| Q4 24 | 2.06× | 2.24× | ||
| Q3 24 | -0.17× | 2.49× | ||
| Q2 24 | 0.55× | 1.34× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
