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第一太阳能（FSLR）与Ubiquiti Inc.（UI）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Ubiquiti Inc.的1.3倍（$1.0B vs $814.9M），第一太阳能净利率更高（33.2% vs 28.7%，领先4.5%），Ubiquiti Inc.同比增速更快（35.8% vs 23.6%），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% 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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
FSLR vs UI — 直观对比
营收规模更大
FSLR
是对方的1.3倍
$814.9M
营收增速更快
UI
高出12.2%
23.6%
净利率更高
FSLR
高出4.5%
28.7%
两年增速更快
UI
近两年复合增速
1.7%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $814.9M |
| 净利润 | $346.6M | $233.6M |
| 毛利率 | 46.6% | 45.9% |
| 营业利润率 | 33.1% | 35.9% |
| 净利率 | 33.2% | 28.7% |
| 营收同比 | 23.6% | 35.8% |
| 净利润同比 | 65.4% | 70.8% |
| 每股收益（稀释后） | $3.22 | $3.86 |
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FSLRUI
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.7B | $814.9M | ||
| Q3 25 | $1.6B | $733.8M | ||
| Q2 25 | $1.1B | $759.2M | ||
| Q1 25 | $844.6M | $664.2M | ||
| Q4 24 | $1.5B | $599.9M | ||
| Q3 24 | $887.7M | $550.3M | ||
| Q2 24 | $1.0B | $507.5M |
净利润FSLRUI
| Q1 26 | $346.6M | — | ||
| Q4 25 | $520.9M | $233.6M | ||
| Q3 25 | $455.9M | $207.9M | ||
| Q2 25 | $341.9M | $266.7M | ||
| Q1 25 | $209.5M | $180.4M | ||
| Q4 24 | $393.1M | $136.8M | ||
| Q3 24 | $313.0M | $128.0M | ||
| Q2 24 | $349.4M | $103.8M |
毛利率FSLRUI
| Q1 26 | 46.6% | — | ||
| Q4 25 | 39.5% | 45.9% | ||
| Q3 25 | 38.3% | 46.0% | ||
| Q2 25 | 45.6% | 45.1% | ||
| Q1 25 | 40.8% | 44.5% | ||
| Q4 24 | 37.5% | 41.2% | ||
| Q3 24 | 50.2% | 42.1% | ||
| Q2 24 | 49.4% | 40.2% |
营业利润率FSLRUI
| Q1 26 | 33.1% | — | ||
| Q4 25 | 32.6% | 35.9% | ||
| Q3 25 | 29.2% | 35.7% | ||
| Q2 25 | 33.0% | 34.4% | ||
| Q1 25 | 26.2% | 34.2% | ||
| Q4 24 | 30.2% | 29.8% | ||
| Q3 24 | 36.3% | 30.7% | ||
| Q2 24 | 36.9% | 27.3% |
净利率FSLRUI
| Q1 26 | 33.2% | — | ||
| Q4 25 | 31.0% | 28.7% | ||
| Q3 25 | 28.6% | 28.3% | ||
| Q2 25 | 31.2% | 35.1% | ||
| Q1 25 | 24.8% | 27.2% | ||
| Q4 24 | 26.0% | 22.8% | ||
| Q3 24 | 35.3% | 23.3% | ||
| Q2 24 | 34.6% | 20.5% |
每股收益（稀释后）FSLRUI
| Q1 26 | $3.22 | — | ||
| Q4 25 | $4.84 | $3.86 | ||
| Q3 25 | $4.24 | $3.43 | ||
| Q2 25 | $3.18 | $4.40 | ||
| Q1 25 | $1.95 | $2.98 | ||
| Q4 24 | $3.66 | $2.26 | ||
| Q3 24 | $2.91 | $2.12 | ||
| Q2 24 | $3.25 | $1.72 |
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 | $302.8M |
| 总债务越低越好 | $425.8M | $47.5M |
| 股东权益账面价值 | $9.9B | $1.0B |
| 总资产 | $13.4B | $1.6B |
| 负债/权益比越低杠杆越低 | 0.04× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资FSLRUI
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.8B | $302.8M | ||
| Q3 25 | $2.0B | $177.2M | ||
| Q2 25 | $1.1B | $149.7M | ||
| Q1 25 | $837.6M | $151.0M | ||
| Q4 24 | $1.6B | $133.1M | ||
| Q3 24 | $1.0B | $165.2M | ||
| Q2 24 | $1.7B | $126.3M |
总债务FSLRUI
| Q1 26 | $425.8M | — | ||
| Q4 25 | — | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M |
股东权益FSLRUI
| Q1 26 | $9.9B | — | ||
| Q4 25 | $9.5B | $1.0B | ||
| Q3 25 | $9.0B | $828.4M | ||
| Q2 25 | $8.5B | $668.3M | ||
| Q1 25 | $8.2B | $436.1M | ||
| Q4 24 | $8.0B | $290.4M | ||
| Q3 24 | $7.6B | $188.1M | ||
| Q2 24 | $7.3B | $95.1M |
总资产FSLRUI
| Q1 26 | $13.4B | — | ||
| Q4 25 | $13.3B | $1.6B | ||
| Q3 25 | $13.5B | $1.5B | ||
| Q2 25 | $12.9B | $1.5B | ||
| Q1 25 | $12.1B | $1.3B | ||
| Q4 24 | $12.1B | $1.2B | ||
| Q3 24 | $11.4B | $1.2B | ||
| Q2 24 | $11.0B | $1.2B |
负债/权益比FSLRUI
| Q1 26 | 0.04× | — | ||
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | — | $260.3M |
| 自由现金流率自由现金流/营收 | — | 31.9% |
| 资本支出强度资本支出/营收 | — | 0.4% |
| 现金转化率经营现金流/净利润 | -0.62× | 1.13× |
| 过去12个月自由现金流最近4个季度 | — | $699.5M |
8季度趋势，按日历期对齐
经营现金流FSLRUI
| Q1 26 | $-214.9M | — | ||
| Q4 25 | $1.2B | $263.9M | ||
| Q3 25 | $1.3B | $198.5M | ||
| Q2 25 | $149.6M | $130.4M | ||
| Q1 25 | $-608.0M | $123.6M | ||
| Q4 24 | $811.0M | $152.4M | ||
| Q3 24 | $-53.7M | $233.7M | ||
| Q2 24 | $193.0M | $231.4M |
自由现金流FSLRUI
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $260.3M | ||
| Q3 25 | $1.1B | $193.3M | ||
| Q2 25 | $-138.6M | $125.2M | ||
| Q1 25 | $-813.9M | $120.7M | ||
| Q4 24 | $497.5M | $150.4M | ||
| Q3 24 | $-487.7M | $231.1M | ||
| Q2 24 | $-172.1M | $229.5M |
自由现金流率FSLRUI
| Q1 26 | — | — | ||
| Q4 25 | 63.6% | 31.9% | ||
| Q3 25 | 67.1% | 26.3% | ||
| Q2 25 | -12.6% | 16.5% | ||
| Q1 25 | -96.4% | 18.2% | ||
| Q4 24 | 32.9% | 25.1% | ||
| Q3 24 | -54.9% | 42.0% | ||
| Q2 24 | -17.0% | 45.2% |
资本支出强度FSLRUI
| Q1 26 | — | — | ||
| Q4 25 | 10.2% | 0.4% | ||
| Q3 25 | 12.8% | 0.7% | ||
| Q2 25 | 26.3% | 0.7% | ||
| Q1 25 | 24.4% | 0.4% | ||
| Q4 24 | 20.7% | 0.3% | ||
| Q3 24 | 48.9% | 0.5% | ||
| Q2 24 | 36.1% | 0.4% |
现金转化率FSLRUI
| Q1 26 | -0.62× | — | ||
| Q4 25 | 2.38× | 1.13× | ||
| Q3 25 | 2.79× | 0.95× | ||
| Q2 25 | 0.44× | 0.49× | ||
| Q1 25 | -2.90× | 0.68× | ||
| Q4 24 | 2.06× | 1.11× | ||
| Q3 24 | -0.17× | 1.83× | ||
| Q2 24 | 0.55× | 2.23× |
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
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
