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第一太阳能（FSLR）与EPLUS INC（PLUS）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EPLUS INC的1.7倍（$1.0B vs $614.8M），第一太阳能净利率更高（33.2% vs 5.7%，领先27.5%），第一太阳能同比增速更快（23.6% vs 20.3%），过去两年EPLUS INC的营收复合增速更高（2.3% 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。
ePlus Inc.是美国的科技咨询解决方案提供商，业务覆盖网络安全、云计算、网络架构、协作办公、人工智能及前沿技术领域，为超5000家客户提供定制化解决方案、专业咨询与托管服务，助力企业实现数字化转型与技术升级。
FSLR vs PLUS — 直观对比
营收规模更大
FSLR
是对方的1.7倍
$614.8M
营收增速更快
FSLR
高出3.3%
20.3%
净利率更高
FSLR
高出27.5%
5.7%
两年增速更快
PLUS
近两年复合增速
1.7%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $614.8M |
| 净利润 | $346.6M | $35.1M |
| 毛利率 | 46.6% | 25.8% |
| 营业利润率 | 33.1% | 7.1% |
| 净利率 | 33.2% | 5.7% |
| 营收同比 | 23.6% | 20.3% |
| 净利润同比 | 65.4% | 45.2% |
| 每股收益（稀释后） | $3.22 | $1.33 |
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FSLRPLUS
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.7B | $614.8M | ||
| Q3 25 | $1.6B | $608.8M | ||
| Q2 25 | $1.1B | $637.3M | ||
| Q1 25 | $844.6M | — | ||
| Q4 24 | $1.5B | $493.2M | ||
| Q3 24 | $887.7M | $493.4M | ||
| Q2 24 | $1.0B | $535.7M |
净利润FSLRPLUS
| Q1 26 | $346.6M | — | ||
| Q4 25 | $520.9M | $35.1M | ||
| Q3 25 | $455.9M | $34.9M | ||
| Q2 25 | $341.9M | $37.7M | ||
| Q1 25 | $209.5M | — | ||
| Q4 24 | $393.1M | $24.1M | ||
| Q3 24 | $313.0M | $31.3M | ||
| Q2 24 | $349.4M | $27.3M |
毛利率FSLRPLUS
| Q1 26 | 46.6% | — | ||
| Q4 25 | 39.5% | 25.8% | ||
| Q3 25 | 38.3% | 26.6% | ||
| Q2 25 | 45.6% | 23.3% | ||
| Q1 25 | 40.8% | — | ||
| Q4 24 | 37.5% | 25.4% | ||
| Q3 24 | 50.2% | 25.8% | ||
| Q2 24 | 49.4% | 23.7% |
营业利润率FSLRPLUS
| Q1 26 | 33.1% | — | ||
| Q4 25 | 32.6% | 7.1% | ||
| Q3 25 | 29.2% | 8.0% | ||
| Q2 25 | 33.0% | 5.7% | ||
| Q1 25 | 26.2% | — | ||
| Q4 24 | 30.2% | 3.3% | ||
| Q3 24 | 36.3% | 5.5% | ||
| Q2 24 | 36.9% | 5.9% |
净利率FSLRPLUS
| Q1 26 | 33.2% | — | ||
| Q4 25 | 31.0% | 5.7% | ||
| Q3 25 | 28.6% | 5.7% | ||
| Q2 25 | 31.2% | 5.9% | ||
| Q1 25 | 24.8% | — | ||
| Q4 24 | 26.0% | 4.9% | ||
| Q3 24 | 35.3% | 6.3% | ||
| Q2 24 | 34.6% | 5.1% |
每股收益（稀释后）FSLRPLUS
| Q1 26 | $3.22 | — | ||
| Q4 25 | $4.84 | $1.33 | ||
| Q3 25 | $4.24 | $1.32 | ||
| Q2 25 | $3.18 | $1.43 | ||
| Q1 25 | $1.95 | — | ||
| Q4 24 | $3.66 | $0.91 | ||
| Q3 24 | $2.91 | $1.17 | ||
| Q2 24 | $3.25 | $1.02 |
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 | $326.3M |
| 总债务越低越好 | $425.8M | — |
| 股东权益账面价值 | $9.9B | $1.1B |
| 总资产 | $13.4B | $1.8B |
| 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FSLRPLUS
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.8B | $326.3M | ||
| Q3 25 | $2.0B | $402.2M | ||
| Q2 25 | $1.1B | $480.2M | ||
| Q1 25 | $837.6M | — | ||
| Q4 24 | $1.6B | $253.1M | ||
| Q3 24 | $1.0B | $187.5M | ||
| Q2 24 | $1.7B | $349.9M |
总债务FSLRPLUS
| Q1 26 | $425.8M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FSLRPLUS
| Q1 26 | $9.9B | — | ||
| Q4 25 | $9.5B | $1.1B | ||
| Q3 25 | $9.0B | $1.0B | ||
| Q2 25 | $8.5B | $1.0B | ||
| Q1 25 | $8.2B | — | ||
| Q4 24 | $8.0B | $962.3M | ||
| Q3 24 | $7.6B | $947.0M | ||
| Q2 24 | $7.3B | $921.9M |
总资产FSLRPLUS
| Q1 26 | $13.4B | — | ||
| Q4 25 | $13.3B | $1.8B | ||
| Q3 25 | $13.5B | $1.8B | ||
| Q2 25 | $12.9B | $1.8B | ||
| Q1 25 | $12.1B | — | ||
| Q4 24 | $12.1B | $1.8B | ||
| Q3 24 | $11.4B | $1.7B | ||
| Q2 24 | $11.0B | $1.7B |
负债/权益比FSLRPLUS
| 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 | $-87.4M |
| 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 | — | — |
| 现金转化率经营现金流/净利润 | -0.62× | -2.49× |
| 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FSLRPLUS
| Q1 26 | $-214.9M | — | ||
| Q4 25 | $1.2B | $-87.4M | ||
| Q3 25 | $1.3B | $-34.8M | ||
| Q2 25 | $149.6M | $-99.0M | ||
| Q1 25 | $-608.0M | — | ||
| Q4 24 | $811.0M | $65.7M | ||
| Q3 24 | $-53.7M | $-21.6M | ||
| Q2 24 | $193.0M | $97.1M |
自由现金流FSLRPLUS
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $-138.6M | — | ||
| Q1 25 | $-813.9M | — | ||
| Q4 24 | $497.5M | — | ||
| Q3 24 | $-487.7M | — | ||
| Q2 24 | $-172.1M | — |
自由现金流率FSLRPLUS
| Q1 26 | — | — | ||
| Q4 25 | 63.6% | — | ||
| Q3 25 | 67.1% | — | ||
| Q2 25 | -12.6% | — | ||
| Q1 25 | -96.4% | — | ||
| Q4 24 | 32.9% | — | ||
| Q3 24 | -54.9% | — | ||
| Q2 24 | -17.0% | — |
资本支出强度FSLRPLUS
| Q1 26 | — | — | ||
| Q4 25 | 10.2% | — | ||
| Q3 25 | 12.8% | — | ||
| Q2 25 | 26.3% | — | ||
| Q1 25 | 24.4% | — | ||
| Q4 24 | 20.7% | — | ||
| Q3 24 | 48.9% | — | ||
| Q2 24 | 36.1% | — |
现金转化率FSLRPLUS
| Q1 26 | -0.62× | — | ||
| Q4 25 | 2.38× | -2.49× | ||
| Q3 25 | 2.79× | -1.00× | ||
| Q2 25 | 0.44× | -2.63× | ||
| Q1 25 | -2.90× | — | ||
| Q4 24 | 2.06× | 2.72× | ||
| Q3 24 | -0.17× | -0.69× | ||
| Q2 24 | 0.55× | 3.55× |
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
PLUS
| All Others Customer End Market | $107.0M | 17% |
| Technology Customer End Market | $89.4M | 15% |
| Health Care Customer End Market | $81.5M | 13% |
| Financial Services Customer End Market | $66.1M | 11% |
| Professional Services Reporting Unit | $64.1M | 10% |
| Security | $61.1M | 10% |
| State And Local Government And Educational Institutions | $59.9M | 10% |
| Managed Services Reporting Unit | $48.8M | 8% |
| Other Product | $21.1M | 3% |
| Collaboration | $13.4M | 2% |
