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第一太阳能（FSLR）与RUSH ENTERPRISES INC \TX\（RUSHA）财务数据对比。点击上方公司名可切换其他公司
RUSH ENTERPRISES INC \TX\的季度营收约是第一太阳能的1.0倍（$1.7B vs $1.7B），第一太阳能净利率更高（31.0% vs 3.7%，领先27.3%），第一太阳能同比增速更快（11.1% vs -9.0%），第一太阳能自由现金流更多（$1.1B vs $411.6M），过去两年第一太阳能的营收复合增速更高（45.6% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
FSLR vs RUSHA — 直观对比
营收规模更大
RUSHA
是对方的1.0倍
$1.7B
营收增速更快
FSLR
高出20.1%
-9.0%
净利率更高
FSLR
高出27.3%
3.7%
自由现金流更多
FSLR
多$658.6M
$411.6M
两年增速更快
FSLR
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.7B |
| 净利润 | $520.9M | $61.7M |
| 毛利率 | 39.5% | 20.4% |
| 营业利润率 | 32.6% | 4.9% |
| 净利率 | 31.0% | 3.7% |
| 营收同比 | 11.1% | -9.0% |
| 净利润同比 | 32.5% | 1.8% |
| 每股收益（稀释后） | $4.84 | $0.77 |
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FSLRRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.7B | $1.7B | ||
| Q3 25 | $1.6B | $1.8B | ||
| Q2 25 | $1.1B | $1.8B | ||
| Q1 25 | $844.6M | $1.8B | ||
| Q4 24 | $1.5B | $1.9B | ||
| Q3 24 | $887.7M | $1.8B | ||
| Q2 24 | $1.0B | $1.9B |
净利润FSLRRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $520.9M | $64.3M | ||
| Q3 25 | $455.9M | $66.7M | ||
| Q2 25 | $341.9M | $72.4M | ||
| Q1 25 | $209.5M | $60.3M | ||
| Q4 24 | $393.1M | $74.8M | ||
| Q3 24 | $313.0M | $79.1M | ||
| Q2 24 | $349.4M | $78.7M |
毛利率FSLRRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | 39.5% | 20.8% | ||
| Q3 25 | 38.3% | 21.0% | ||
| Q2 25 | 45.6% | 20.7% | ||
| Q1 25 | 40.8% | 20.3% | ||
| Q4 24 | 37.5% | 19.3% | ||
| Q3 24 | 50.2% | 21.0% | ||
| Q2 24 | 49.4% | 20.2% |
营业利润率FSLRRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 32.6% | 5.5% | ||
| Q3 25 | 29.2% | 5.6% | ||
| Q2 25 | 33.0% | 6.0% | ||
| Q1 25 | 26.2% | 5.2% | ||
| Q4 24 | 30.2% | 5.8% | ||
| Q3 24 | 36.3% | 6.7% | ||
| Q2 24 | 36.9% | 6.4% |
净利率FSLRRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 31.0% | 3.8% | ||
| Q3 25 | 28.6% | 3.7% | ||
| Q2 25 | 31.2% | 3.9% | ||
| Q1 25 | 24.8% | 3.4% | ||
| Q4 24 | 26.0% | 3.9% | ||
| Q3 24 | 35.3% | 4.4% | ||
| Q2 24 | 34.6% | 4.1% |
每股收益（稀释后）FSLRRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $4.84 | $0.81 | ||
| Q3 25 | $4.24 | $0.83 | ||
| Q2 25 | $3.18 | $0.90 | ||
| Q1 25 | $1.95 | $0.73 | ||
| Q4 24 | $3.66 | $-95.13 | ||
| Q3 24 | $2.91 | $0.97 | ||
| Q2 24 | $3.25 | $97.00 |
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 | — |
| 总债务越低越好 | — | $277.8M |
| 股东权益账面价值 | $9.5B | $2.3B |
| 总资产 | $13.3B | $4.5B |
| 负债/权益比越低杠杆越低 | — | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资FSLRRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $2.8B | $212.6M | ||
| Q3 25 | $2.0B | $242.0M | ||
| Q2 25 | $1.1B | $211.1M | ||
| Q1 25 | $837.6M | $228.7M | ||
| Q4 24 | $1.6B | $228.1M | ||
| Q3 24 | $1.0B | $185.1M | ||
| Q2 24 | $1.7B | $167.3M |
总债务FSLRRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | — | $274.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $408.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FSLRRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $9.5B | $2.2B | ||
| Q3 25 | $9.0B | $2.2B | ||
| Q2 25 | $8.5B | $2.2B | ||
| Q1 25 | $8.2B | $2.2B | ||
| Q4 24 | $8.0B | $2.1B | ||
| Q3 24 | $7.6B | $2.1B | ||
| Q2 24 | $7.3B | $2.0B |
总资产FSLRRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $13.3B | $4.4B | ||
| Q3 25 | $13.5B | $4.6B | ||
| Q2 25 | $12.9B | $4.7B | ||
| Q1 25 | $12.1B | $4.7B | ||
| Q4 24 | $12.1B | $4.6B | ||
| Q3 24 | $11.4B | $4.6B | ||
| Q2 24 | $11.0B | $4.5B |
负债/权益比FSLRRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.19× | ||
| 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 | $1.2B | — |
| 自由现金流经营现金流 - 资本支出 | $1.1B | $411.6M |
| 自由现金流率自由现金流/营收 | 63.6% | 24.4% |
| 资本支出强度资本支出/营收 | 10.2% | 2.0% |
| 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 | $828.4M |
8季度趋势，按日历期对齐
经营现金流FSLRRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $112.9M | ||
| Q3 25 | $1.3B | $367.8M | ||
| Q2 25 | $149.6M | $227.6M | ||
| Q1 25 | $-608.0M | $153.5M | ||
| Q4 24 | $811.0M | $392.3M | ||
| Q3 24 | $-53.7M | $111.7M | ||
| Q2 24 | $193.0M | $270.6M |
自由现金流FSLRRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $1.1B | $31.9M | ||
| Q3 25 | $1.1B | $271.2M | ||
| Q2 25 | $-138.6M | $113.8M | ||
| Q1 25 | $-813.9M | $45.1M | ||
| Q4 24 | $497.5M | $263.5M | ||
| Q3 24 | $-487.7M | $-20.0M | ||
| Q2 24 | $-172.1M | $177.2M |
自由现金流率FSLRRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 63.6% | 1.9% | ||
| Q3 25 | 67.1% | 15.2% | ||
| Q2 25 | -12.6% | 6.2% | ||
| Q1 25 | -96.4% | 2.6% | ||
| Q4 24 | 32.9% | 13.7% | ||
| Q3 24 | -54.9% | -1.1% | ||
| Q2 24 | -17.0% | 9.1% |
资本支出强度FSLRRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 10.2% | 4.8% | ||
| Q3 25 | 12.8% | 5.4% | ||
| Q2 25 | 26.3% | 6.2% | ||
| Q1 25 | 24.4% | 6.2% | ||
| Q4 24 | 20.7% | 6.7% | ||
| Q3 24 | 48.9% | 7.3% | ||
| Q2 24 | 36.1% | 4.8% |
现金转化率FSLRRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 2.38× | 1.75× | ||
| Q3 25 | 2.79× | 5.51× | ||
| Q2 25 | 0.44× | 3.14× | ||
| Q1 25 | -2.90× | 2.55× | ||
| Q4 24 | 2.06× | 5.25× | ||
| Q3 24 | -0.17× | 1.41× | ||
| Q2 24 | 0.55× | 3.44× |
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
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
