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第一太阳能（FSLR）与美森（MATX）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美森的1.2倍（$1.0B vs $851.9M），第一太阳能净利率更高（33.2% vs 16.8%，领先16.4%），第一太阳能同比增速更快（23.6% vs -4.3%），过去两年美森的营收复合增速更高（8.6% 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。
美森公司（Matson, Inc.）是美国知名航运服务企业，总部位于夏威夷州火奴鲁鲁，成立于1882年。旗下子公司美森航运主营跨太平洋海运业务，服务覆盖夏威夷、阿拉斯加、关岛、密克罗尼西亚、太平洋诸岛、中国及日本等地区。
FSLR vs MATX — 直观对比
营收规模更大
FSLR
是对方的1.2倍
$851.9M
营收增速更快
FSLR
高出28.0%
-4.3%
净利率更高
FSLR
高出16.4%
16.8%
两年增速更快
MATX
近两年复合增速
1.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $851.9M |
| 净利润 | $346.6M | $143.1M |
| 毛利率 | 46.6% | — |
| 营业利润率 | 33.1% | 16.9% |
| 净利率 | 33.2% | 16.8% |
| 营收同比 | 23.6% | -4.3% |
| 净利润同比 | 65.4% | 11.8% |
| 每股收益（稀释后） | $3.22 | $4.47 |
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FSLRMATX
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.7B | $851.9M | ||
| Q3 25 | $1.6B | $880.1M | ||
| Q2 25 | $1.1B | $830.5M | ||
| Q1 25 | $844.6M | $782.0M | ||
| Q4 24 | $1.5B | $890.3M | ||
| Q3 24 | $887.7M | $962.0M | ||
| Q2 24 | $1.0B | $847.4M |
净利润FSLRMATX
| Q1 26 | $346.6M | — | ||
| Q4 25 | $520.9M | $143.1M | ||
| Q3 25 | $455.9M | $134.7M | ||
| Q2 25 | $341.9M | $94.7M | ||
| Q1 25 | $209.5M | $72.3M | ||
| Q4 24 | $393.1M | $128.0M | ||
| Q3 24 | $313.0M | $199.1M | ||
| Q2 24 | $349.4M | $113.2M |
毛利率FSLRMATX
| Q1 26 | 46.6% | — | ||
| Q4 25 | 39.5% | — | ||
| Q3 25 | 38.3% | — | ||
| Q2 25 | 45.6% | — | ||
| Q1 25 | 40.8% | — | ||
| Q4 24 | 37.5% | — | ||
| Q3 24 | 50.2% | — | ||
| Q2 24 | 49.4% | — |
营业利润率FSLRMATX
| Q1 26 | 33.1% | — | ||
| Q4 25 | 32.6% | 16.9% | ||
| Q3 25 | 29.2% | 18.3% | ||
| Q2 25 | 33.0% | 13.6% | ||
| Q1 25 | 26.2% | 10.5% | ||
| Q4 24 | 30.2% | 16.6% | ||
| Q3 24 | 36.3% | 25.2% | ||
| Q2 24 | 36.9% | 14.7% |
净利率FSLRMATX
| Q1 26 | 33.2% | — | ||
| Q4 25 | 31.0% | 16.8% | ||
| Q3 25 | 28.6% | 15.3% | ||
| Q2 25 | 31.2% | 11.4% | ||
| Q1 25 | 24.8% | 9.2% | ||
| Q4 24 | 26.0% | 14.4% | ||
| Q3 24 | 35.3% | 20.7% | ||
| Q2 24 | 34.6% | 13.4% |
每股收益（稀释后）FSLRMATX
| Q1 26 | $3.22 | — | ||
| Q4 25 | $4.84 | $4.47 | ||
| Q3 25 | $4.24 | $4.24 | ||
| Q2 25 | $3.18 | $2.92 | ||
| Q1 25 | $1.95 | $2.18 | ||
| Q4 24 | $3.66 | $3.69 | ||
| Q3 24 | $2.91 | $5.89 | ||
| Q2 24 | $3.25 | $3.31 |
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 | $141.9M |
| 总债务越低越好 | $425.8M | $361.2M |
| 股东权益账面价值 | $9.9B | $2.8B |
| 总资产 | $13.4B | $4.6B |
| 负债/权益比越低杠杆越低 | 0.04× | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资FSLRMATX
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.8B | $141.9M | ||
| Q3 25 | $2.0B | $92.7M | ||
| Q2 25 | $1.1B | $59.1M | ||
| Q1 25 | $837.6M | $122.0M | ||
| Q4 24 | $1.6B | $266.8M | ||
| Q3 24 | $1.0B | $270.3M | ||
| Q2 24 | $1.7B | $168.2M |
总债务FSLRMATX
| Q1 26 | $425.8M | — | ||
| Q4 25 | — | $361.2M | ||
| Q3 25 | — | $370.9M | ||
| Q2 25 | — | $341.3M | ||
| Q1 25 | — | $351.1M | ||
| Q4 24 | — | $361.2M | ||
| Q3 24 | — | $370.9M | ||
| Q2 24 | — | $381.0M |
股东权益FSLRMATX
| Q1 26 | $9.9B | — | ||
| Q4 25 | $9.5B | $2.8B | ||
| Q3 25 | $9.0B | $2.7B | ||
| Q2 25 | $8.5B | $2.6B | ||
| Q1 25 | $8.2B | $2.6B | ||
| Q4 24 | $8.0B | $2.7B | ||
| Q3 24 | $7.6B | $2.6B | ||
| Q2 24 | $7.3B | $2.4B |
总资产FSLRMATX
| Q1 26 | $13.4B | — | ||
| Q4 25 | $13.3B | $4.6B | ||
| Q3 25 | $13.5B | $4.6B | ||
| Q2 25 | $12.9B | $4.5B | ||
| Q1 25 | $12.1B | $4.5B | ||
| Q4 24 | $12.1B | $4.6B | ||
| Q3 24 | $11.4B | $4.4B | ||
| Q2 24 | $11.0B | $4.3B |
负债/权益比FSLRMATX
| Q1 26 | 0.04× | — | ||
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.14× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.16× |
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 | $176.9M |
| 自由现金流经营现金流 - 资本支出 | — | $42.2M |
| 自由现金流率自由现金流/营收 | — | 5.0% |
| 资本支出强度资本支出/营收 | — | 15.8% |
| 现金转化率经营现金流/净利润 | -0.62× | 1.24× |
| 过去12个月自由现金流最近4个季度 | — | $153.7M |
8季度趋势，按日历期对齐
经营现金流FSLRMATX
| Q1 26 | $-214.9M | — | ||
| Q4 25 | $1.2B | $176.9M | ||
| Q3 25 | $1.3B | $175.6M | ||
| Q2 25 | $149.6M | $105.6M | ||
| Q1 25 | $-608.0M | $89.0M | ||
| Q4 24 | $811.0M | $174.7M | ||
| Q3 24 | $-53.7M | $248.6M | ||
| Q2 24 | $193.0M | $307.9M |
自由现金流FSLRMATX
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $42.2M | ||
| Q3 25 | $1.1B | $92.4M | ||
| Q2 25 | $-138.6M | $19.3M | ||
| Q1 25 | $-813.9M | $-200.0K | ||
| Q4 24 | $497.5M | $49.3M | ||
| Q3 24 | $-487.7M | $189.0M | ||
| Q2 24 | $-172.1M | $238.1M |
自由现金流率FSLRMATX
| Q1 26 | — | — | ||
| Q4 25 | 63.6% | 5.0% | ||
| Q3 25 | 67.1% | 10.5% | ||
| Q2 25 | -12.6% | 2.3% | ||
| Q1 25 | -96.4% | -0.0% | ||
| Q4 24 | 32.9% | 5.5% | ||
| Q3 24 | -54.9% | 19.6% | ||
| Q2 24 | -17.0% | 28.1% |
资本支出强度FSLRMATX
| Q1 26 | — | — | ||
| Q4 25 | 10.2% | 15.8% | ||
| Q3 25 | 12.8% | 9.5% | ||
| Q2 25 | 26.3% | 10.4% | ||
| Q1 25 | 24.4% | 11.4% | ||
| Q4 24 | 20.7% | 14.1% | ||
| Q3 24 | 48.9% | 6.2% | ||
| Q2 24 | 36.1% | 8.2% |
现金转化率FSLRMATX
| Q1 26 | -0.62× | — | ||
| Q4 25 | 2.38× | 1.24× | ||
| Q3 25 | 2.79× | 1.30× | ||
| Q2 25 | 0.44× | 1.12× | ||
| Q1 25 | -2.90× | 1.23× | ||
| Q4 24 | 2.06× | 1.36× | ||
| Q3 24 | -0.17× | 1.25× | ||
| Q2 24 | 0.55× | 2.72× |
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
MATX
| Ocean Transportation Segment | $704.2M | 83% |
| Logistics Services Segment | $147.7M | 17% |
