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第一太阳能（FSLR）与RENAISSANCERE HOLDINGS LTD（RNR）财务数据对比。点击上方公司名可切换其他公司
RENAISSANCERE HOLDINGS LTD的季度营收约是第一太阳能的1.3倍（$2.2B vs $1.7B），第一太阳能净利率更高（31.0% vs 23.5%，领先7.5%），第一太阳能同比增速更快（11.1% vs -36.8%），过去两年第一太阳能的营收复合增速更高（45.6% vs -11.9%）
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。
RenaissanceRe Holdings Ltd是总部位于百慕大的保险及相关商业服务提供商，核心业务覆盖再保险、常规保险两大板块，同时运营风险相关创新投资业务，为全球客户提供专业的风险对冲与保险解决方案。
FSLR vs RNR — 直观对比
营收规模更大
RNR
是对方的1.3倍
$1.7B
营收增速更快
FSLR
高出47.9%
-36.8%
净利率更高
FSLR
高出7.5%
23.5%
两年增速更快
FSLR
近两年复合增速
-11.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $2.2B |
| 净利润 | $520.9M | $515.8M |
| 毛利率 | 39.5% | — |
| 营业利润率 | 32.6% | — |
| 净利率 | 31.0% | 23.5% |
| 营收同比 | 11.1% | -36.8% |
| 净利润同比 | 32.5% | 72.6% |
| 每股收益（稀释后） | $4.84 | $6.57 |
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FSLRRNR
| Q1 26 | — | $2.2B | ||
| Q4 25 | $1.7B | $3.0B | ||
| Q3 25 | $1.6B | $3.2B | ||
| Q2 25 | $1.1B | $3.2B | ||
| Q1 25 | $844.6M | $3.5B | ||
| Q4 24 | $1.5B | $2.3B | ||
| Q3 24 | $887.7M | $4.0B | ||
| Q2 24 | $1.0B | $2.8B |
净利润FSLRRNR
| Q1 26 | — | $515.8M | ||
| Q4 25 | $520.9M | $760.5M | ||
| Q3 25 | $455.9M | $916.5M | ||
| Q2 25 | $341.9M | $835.4M | ||
| Q1 25 | $209.5M | $170.0M | ||
| Q4 24 | $393.1M | $-189.7M | ||
| Q3 24 | $313.0M | $1.2B | ||
| Q2 24 | $349.4M | $503.9M |
毛利率FSLRRNR
| Q1 26 | — | — | ||
| 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FSLRRNR
| Q1 26 | — | — | ||
| Q4 25 | 32.6% | 42.5% | ||
| Q3 25 | 29.2% | 46.3% | ||
| Q2 25 | 33.0% | 41.8% | ||
| Q1 25 | 26.2% | -2.0% | ||
| Q4 24 | 30.2% | -3.6% | ||
| Q3 24 | 36.3% | 43.7% | ||
| Q2 24 | 36.9% | 25.0% |
净利率FSLRRNR
| Q1 26 | — | 23.5% | ||
| Q4 25 | 31.0% | 25.6% | ||
| Q3 25 | 28.6% | 28.7% | ||
| Q2 25 | 31.2% | 26.1% | ||
| Q1 25 | 24.8% | 4.9% | ||
| Q4 24 | 26.0% | -8.3% | ||
| Q3 24 | 35.3% | 29.8% | ||
| Q2 24 | 34.6% | 17.8% |
每股收益（稀释后）FSLRRNR
| Q1 26 | — | $6.57 | ||
| Q4 25 | $4.84 | $16.16 | ||
| Q3 25 | $4.24 | $19.40 | ||
| Q2 25 | $3.18 | $17.20 | ||
| Q1 25 | $1.95 | $3.27 | ||
| Q4 24 | $3.66 | $-3.76 | ||
| Q3 24 | $2.91 | $22.62 | ||
| Q2 24 | $3.25 | $9.41 |
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 | $2.8B | $1.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $9.5B | $4.3B |
| 总资产 | $13.3B | $53.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资FSLRRNR
| Q1 26 | — | $1.6B | ||
| Q4 25 | $2.8B | $1.7B | ||
| Q3 25 | $2.0B | $1.7B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $837.6M | $1.6B | ||
| Q4 24 | $1.6B | $1.7B | ||
| Q3 24 | $1.0B | $1.6B | ||
| Q2 24 | $1.7B | $1.6B |
总债务FSLRRNR
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $2.0B |
股东权益FSLRRNR
| Q1 26 | — | $4.3B | ||
| Q4 25 | $9.5B | $11.6B | ||
| Q3 25 | $9.0B | $11.5B | ||
| Q2 25 | $8.5B | $10.8B | ||
| Q1 25 | $8.2B | $10.3B | ||
| Q4 24 | $8.0B | $10.6B | ||
| Q3 24 | $7.6B | $11.2B | ||
| Q2 24 | $7.3B | $10.2B |
总资产FSLRRNR
| Q1 26 | — | $53.7B | ||
| Q4 25 | $13.3B | $53.8B | ||
| Q3 25 | $13.5B | $54.5B | ||
| Q2 25 | $12.9B | $54.7B | ||
| Q1 25 | $12.1B | $53.6B | ||
| Q4 24 | $12.1B | $50.7B | ||
| Q3 24 | $11.4B | $52.8B | ||
| Q2 24 | $11.0B | $51.6B |
负债/权益比FSLRRNR
| Q1 26 | — | — | ||
| Q4 25 | — | 0.20× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.21× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.17× | ||
| Q2 24 | — | 0.19× |
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 | $1.2B | — |
| 自由现金流经营现金流 - 资本支出 | $1.1B | — |
| 自由现金流率自由现金流/营收 | 63.6% | — |
| 资本支出强度资本支出/营收 | 10.2% | — |
| 现金转化率经营现金流/净利润 | 2.38× | — |
| 过去12个月自由现金流最近4个季度 | $1.2B | — |
8季度趋势，按日历期对齐
经营现金流FSLRRNR
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $483.0M | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $149.6M | $1.5B | ||
| Q1 25 | $-608.0M | $157.8M | ||
| Q4 24 | $811.0M | $778.9M | ||
| Q3 24 | $-53.7M | $1.5B | ||
| Q2 24 | $193.0M | $1.2B |
自由现金流FSLRRNR
| 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FSLRRNR
| 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FSLRRNR
| 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FSLRRNR
| Q1 26 | — | — | ||
| Q4 25 | 2.38× | 0.64× | ||
| Q3 25 | 2.79× | 1.73× | ||
| Q2 25 | 0.44× | 1.76× | ||
| Q1 25 | -2.90× | 0.93× | ||
| Q4 24 | 2.06× | — | ||
| Q3 24 | -0.17× | 1.26× | ||
| Q2 24 | 0.55× | 2.41× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
