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第一太阳能（FSLR）与Royalty Pharma plc（RPRX）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Royalty Pharma plc的1.7倍（$1.0B vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 33.2%，领先1.2%），第一太阳能同比增速更快（23.6% vs 4.8%），过去两年Royalty Pharma plc的营收复合增速更高（4.6% 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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
FSLR vs RPRX — 直观对比
营收规模更大
FSLR
是对方的1.7倍
$622.0M
营收增速更快
FSLR
高出18.9%
4.8%
净利率更高
RPRX
高出1.2%
33.2%
两年增速更快
RPRX
近两年复合增速
1.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $622.0M |
| 净利润 | $346.6M | $214.2M |
| 毛利率 | 46.6% | — |
| 营业利润率 | 33.1% | 62.4% |
| 净利率 | 33.2% | 34.4% |
| 营收同比 | 23.6% | 4.8% |
| 净利润同比 | 65.4% | 2.9% |
| 每股收益（稀释后） | $3.22 | $0.49 |
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FSLRRPRX
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.7B | $622.0M | ||
| Q3 25 | $1.6B | $609.3M | ||
| Q2 25 | $1.1B | $578.7M | ||
| Q1 25 | $844.6M | $568.2M | ||
| Q4 24 | $1.5B | $593.6M | ||
| Q3 24 | $887.7M | $564.7M | ||
| Q2 24 | $1.0B | $537.3M |
净利润FSLRRPRX
| Q1 26 | $346.6M | — | ||
| Q4 25 | $520.9M | $214.2M | ||
| Q3 25 | $455.9M | $288.2M | ||
| Q2 25 | $341.9M | $30.2M | ||
| Q1 25 | $209.5M | $238.3M | ||
| Q4 24 | $393.1M | $208.2M | ||
| Q3 24 | $313.0M | $544.0M | ||
| Q2 24 | $349.4M | $102.0M |
毛利率FSLRRPRX
| 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FSLRRPRX
| Q1 26 | 33.1% | — | ||
| Q4 25 | 32.6% | 62.4% | ||
| Q3 25 | 29.2% | 70.1% | ||
| Q2 25 | 33.0% | 36.3% | ||
| Q1 25 | 26.2% | 94.0% | ||
| Q4 24 | 30.2% | 60.9% | ||
| Q3 24 | 36.3% | — | ||
| Q2 24 | 36.9% | 50.2% |
净利率FSLRRPRX
| Q1 26 | 33.2% | — | ||
| Q4 25 | 31.0% | 34.4% | ||
| Q3 25 | 28.6% | 47.3% | ||
| Q2 25 | 31.2% | 5.2% | ||
| Q1 25 | 24.8% | 41.9% | ||
| Q4 24 | 26.0% | 35.1% | ||
| Q3 24 | 35.3% | 96.3% | ||
| Q2 24 | 34.6% | 19.0% |
每股收益（稀释后）FSLRRPRX
| Q1 26 | $3.22 | — | ||
| Q4 25 | $4.84 | $0.49 | ||
| Q3 25 | $4.24 | $0.67 | ||
| Q2 25 | $3.18 | $0.07 | ||
| Q1 25 | $1.95 | $0.55 | ||
| Q4 24 | $3.66 | $0.46 | ||
| Q3 24 | $2.91 | $1.21 | ||
| Q2 24 | $3.25 | $0.23 |
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 | $618.7M |
| 总债务越低越好 | $425.8M | $9.0B |
| 股东权益账面价值 | $9.9B | $9.7B |
| 总资产 | $13.4B | $19.6B |
| 负债/权益比越低杠杆越低 | 0.04× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资FSLRRPRX
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.8B | $618.7M | ||
| Q3 25 | $2.0B | $938.9M | ||
| Q2 25 | $1.1B | $631.9M | ||
| Q1 25 | $837.6M | $1.1B | ||
| Q4 24 | $1.6B | $929.0M | ||
| Q3 24 | $1.0B | $950.1M | ||
| Q2 24 | $1.7B | $1.8B |
总债务FSLRRPRX
| Q1 26 | $425.8M | — | ||
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B |
股东权益FSLRRPRX
| Q1 26 | $9.9B | — | ||
| Q4 25 | $9.5B | $9.7B | ||
| Q3 25 | $9.0B | $9.6B | ||
| Q2 25 | $8.5B | $9.5B | ||
| Q1 25 | $8.2B | $9.8B | ||
| Q4 24 | $8.0B | $10.3B | ||
| Q3 24 | $7.6B | $10.3B | ||
| Q2 24 | $7.3B | $9.8B |
总资产FSLRRPRX
| Q1 26 | $13.4B | — | ||
| Q4 25 | $13.3B | $19.6B | ||
| Q3 25 | $13.5B | $19.3B | ||
| Q2 25 | $12.9B | $18.3B | ||
| Q1 25 | $12.1B | $17.6B | ||
| Q4 24 | $12.1B | $18.2B | ||
| Q3 24 | $11.4B | $18.0B | ||
| Q2 24 | $11.0B | $17.7B |
负债/权益比FSLRRPRX
| Q1 26 | 0.04× | — | ||
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× |
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 | $827.1M |
| 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× | 3.86× |
| 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FSLRRPRX
| Q1 26 | $-214.9M | — | ||
| Q4 25 | $1.2B | $827.1M | ||
| Q3 25 | $1.3B | $702.6M | ||
| Q2 25 | $149.6M | $364.0M | ||
| Q1 25 | $-608.0M | $596.1M | ||
| Q4 24 | $811.0M | $742.5M | ||
| Q3 24 | $-53.7M | $703.6M | ||
| Q2 24 | $193.0M | $658.2M |
自由现金流FSLRRPRX
| 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FSLRRPRX
| 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FSLRRPRX
| 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FSLRRPRX
| Q1 26 | -0.62× | — | ||
| Q4 25 | 2.38× | 3.86× | ||
| Q3 25 | 2.79× | 2.44× | ||
| Q2 25 | 0.44× | 12.06× | ||
| Q1 25 | -2.90× | 2.50× | ||
| Q4 24 | 2.06× | 3.57× | ||
| Q3 24 | -0.17× | 1.29× | ||
| Q2 24 | 0.55× | 6.45× |
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
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
