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第一太阳能（FSLR）与TRINET GROUP, INC.（TNET）财务数据对比。点击上方公司名可切换其他公司
TRINET GROUP, INC.的季度营收约是第一太阳能的1.2倍（$1.2B vs $1.0B），第一太阳能同比增速更快（23.6% vs -2.2%），过去两年第一太阳能的营收复合增速更高（1.7% vs -0.6%）
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。
TriNet Group, Inc.是一家面向中小企业的专业雇主组织，总部位于加州都柏林，服务员工规模在3至2500人之间的各类机构。可提供薪资管理、健康福利管理服务，还能为客户提供劳动法规合规、风险降低相关咨询，可作为外包人力资源部门为企业分担人事相关事务。
FSLR vs TNET — 直观对比
营收规模更大
TNET
是对方的1.2倍
$1.0B
营收增速更快
FSLR
高出25.8%
-2.2%
两年增速更快
FSLR
近两年复合增速
-0.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.2B |
| 净利润 | $346.6M | — |
| 毛利率 | 46.6% | — |
| 营业利润率 | 33.1% | 0.1% |
| 净利率 | 33.2% | — |
| 营收同比 | 23.6% | -2.2% |
| 净利润同比 | 65.4% | — |
| 每股收益（稀释后） | $3.22 | $0.02 |
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FSLRTNET
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $844.6M | $1.3B | ||
| Q4 24 | $1.5B | $1.3B | ||
| Q3 24 | $887.7M | $1.2B | ||
| Q2 24 | $1.0B | $1.2B |
净利润FSLRTNET
| Q1 26 | $346.6M | — | ||
| Q4 25 | $520.9M | — | ||
| Q3 25 | $455.9M | $34.0M | ||
| Q2 25 | $341.9M | $37.0M | ||
| Q1 25 | $209.5M | $85.0M | ||
| Q4 24 | $393.1M | — | ||
| Q3 24 | $313.0M | $45.0M | ||
| Q2 24 | $349.4M | $60.0M |
毛利率FSLRTNET
| 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FSLRTNET
| Q1 26 | 33.1% | — | ||
| Q4 25 | 32.6% | 0.1% | ||
| Q3 25 | 29.2% | 4.1% | ||
| Q2 25 | 33.0% | 4.1% | ||
| Q1 25 | 26.2% | 8.9% | ||
| Q4 24 | 30.2% | -2.9% | ||
| Q3 24 | 36.3% | 4.7% | ||
| Q2 24 | 36.9% | 6.5% |
净利率FSLRTNET
| Q1 26 | 33.2% | — | ||
| Q4 25 | 31.0% | — | ||
| Q3 25 | 28.6% | 2.8% | ||
| Q2 25 | 31.2% | 3.0% | ||
| Q1 25 | 24.8% | 6.6% | ||
| Q4 24 | 26.0% | — | ||
| Q3 24 | 35.3% | 3.6% | ||
| Q2 24 | 34.6% | 4.9% |
每股收益（稀释后）FSLRTNET
| Q1 26 | $3.22 | — | ||
| Q4 25 | $4.84 | $0.02 | ||
| Q3 25 | $4.24 | $0.70 | ||
| Q2 25 | $3.18 | $0.77 | ||
| Q1 25 | $1.95 | $1.71 | ||
| Q4 24 | $3.66 | $-0.44 | ||
| Q3 24 | $2.91 | $0.89 | ||
| Q2 24 | $3.25 | $1.20 |
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 | $287.0M |
| 总债务越低越好 | $425.8M | — |
| 股东权益账面价值 | $9.9B | $54.0M |
| 总资产 | $13.4B | $3.8B |
| 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FSLRTNET
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.8B | $287.0M | ||
| Q3 25 | $2.0B | $321.0M | ||
| Q2 25 | $1.1B | $407.0M | ||
| Q1 25 | $837.6M | $349.0M | ||
| Q4 24 | $1.6B | $360.0M | ||
| Q3 24 | $1.0B | $301.0M | ||
| Q2 24 | $1.7B | $249.0M |
总债务FSLRTNET
| Q1 26 | $425.8M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FSLRTNET
| Q1 26 | $9.9B | — | ||
| Q4 25 | $9.5B | $54.0M | ||
| Q3 25 | $9.0B | $110.0M | ||
| Q2 25 | $8.5B | $107.0M | ||
| Q1 25 | $8.2B | $63.0M | ||
| Q4 24 | $8.0B | $69.0M | ||
| Q3 24 | $7.6B | $129.0M | ||
| Q2 24 | $7.3B | $100.0M |
总资产FSLRTNET
| Q1 26 | $13.4B | — | ||
| Q4 25 | $13.3B | $3.8B | ||
| Q3 25 | $13.5B | $3.4B | ||
| Q2 25 | $12.9B | $3.7B | ||
| Q1 25 | $12.1B | $3.8B | ||
| Q4 24 | $12.1B | $4.1B | ||
| Q3 24 | $11.4B | $3.7B | ||
| Q2 24 | $11.0B | $3.7B |
负债/权益比FSLRTNET
| 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 | $61.0M |
| 自由现金流经营现金流 - 资本支出 | — | $43.0M |
| 自由现金流率自由现金流/营收 | — | 3.4% |
| 资本支出强度资本支出/营收 | — | 1.4% |
| 现金转化率经营现金流/净利润 | -0.62× | — |
| 过去12个月自由现金流最近4个季度 | — | $234.0M |
8季度趋势，按日历期对齐
经营现金流FSLRTNET
| Q1 26 | $-214.9M | — | ||
| Q4 25 | $1.2B | $61.0M | ||
| Q3 25 | $1.3B | $72.0M | ||
| Q2 25 | $149.6M | $75.0M | ||
| Q1 25 | $-608.0M | $95.0M | ||
| Q4 24 | $811.0M | $65.0M | ||
| Q3 24 | $-53.7M | $84.0M | ||
| Q2 24 | $193.0M | $39.0M |
自由现金流FSLRTNET
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $43.0M | ||
| Q3 25 | $1.1B | $55.0M | ||
| Q2 25 | $-138.6M | $57.0M | ||
| Q1 25 | $-813.9M | $79.0M | ||
| Q4 24 | $497.5M | $47.0M | ||
| Q3 24 | $-487.7M | $59.0M | ||
| Q2 24 | $-172.1M | $22.0M |
自由现金流率FSLRTNET
| Q1 26 | — | — | ||
| Q4 25 | 63.6% | 3.4% | ||
| Q3 25 | 67.1% | 4.5% | ||
| Q2 25 | -12.6% | 4.6% | ||
| Q1 25 | -96.4% | 6.1% | ||
| Q4 24 | 32.9% | 3.7% | ||
| Q3 24 | -54.9% | 4.8% | ||
| Q2 24 | -17.0% | 1.8% |
资本支出强度FSLRTNET
| Q1 26 | — | — | ||
| Q4 25 | 10.2% | 1.4% | ||
| Q3 25 | 12.8% | 1.4% | ||
| Q2 25 | 26.3% | 1.5% | ||
| Q1 25 | 24.4% | 1.2% | ||
| Q4 24 | 20.7% | 1.4% | ||
| Q3 24 | 48.9% | 2.0% | ||
| Q2 24 | 36.1% | 1.4% |
现金转化率FSLRTNET
| Q1 26 | -0.62× | — | ||
| Q4 25 | 2.38× | — | ||
| Q3 25 | 2.79× | 2.12× | ||
| Q2 25 | 0.44× | 2.03× | ||
| Q1 25 | -2.90× | 1.12× | ||
| Q4 24 | 2.06× | — | ||
| Q3 24 | -0.17× | 1.87× | ||
| Q2 24 | 0.55× | 0.65× |
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
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
