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FEDERAL SIGNAL CORP（FSS）与朗美通（LITE）财务数据对比。点击上方公司名可切换其他公司
朗美通的季度营收约是FEDERAL SIGNAL CORP的1.1倍（$665.5M vs $597.1M），朗美通净利率更高（11.8% vs 10.2%，领先1.6%），朗美通同比增速更快（65.5% vs 26.5%），FEDERAL SIGNAL CORP自由现金流更多（$89.5M vs $43.1M），过去两年朗美通的营收复合增速更高（34.8% vs 18.5%）
联邦信号公司是20世纪早期的美国企业，主营铁路信号设备的制造业务，总部坐落于美国纽约州奥尔巴尼市，其生产的相关信号产品在当时的美国轨道交通行业得到了广泛应用，具备一定的行业知名度。
朗美通控股（Lumentum Holdings Inc.）是全球知名光电产品供应商，前身为美国捷迪讯（JDSU）旗下光电器件及激光业务板块，2015年8月随捷迪讯分拆独立运营，总部位于美国加利福尼亚州米尔皮塔斯，主营光通信网络设备、激光器、定制光学解决方案等多元产品。
FSS vs LITE — 直观对比
营收规模更大
LITE
是对方的1.1倍
$597.1M
营收增速更快
LITE
高出39.0%
26.5%
净利率更高
LITE
高出1.6%
10.2%
自由现金流更多
FSS
多$46.4M
$43.1M
两年增速更快
LITE
近两年复合增速
18.5%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $597.1M | $665.5M |
| 净利润 | $60.8M | $78.2M |
| 毛利率 | 28.4% | 36.1% |
| 营业利润率 | 14.0% | 9.7% |
| 净利率 | 10.2% | 11.8% |
| 营收同比 | 26.5% | 65.5% |
| 净利润同比 | 21.6% | 228.4% |
| 每股收益（稀释后） | $0.99 | $0.89 |
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FSSLITE
| Q4 25 | $597.1M | $665.5M | ||
| Q3 25 | $555.0M | $533.8M | ||
| Q2 25 | $564.6M | $480.7M | ||
| Q1 25 | $463.8M | $425.2M | ||
| Q4 24 | $472.0M | $402.2M | ||
| Q3 24 | $474.2M | $336.9M | ||
| Q2 24 | $490.4M | $308.3M | ||
| Q1 24 | $424.9M | $366.5M |
净利润FSSLITE
| Q4 25 | $60.8M | $78.2M | ||
| Q3 25 | $68.1M | $4.2M | ||
| Q2 25 | $71.4M | $213.3M | ||
| Q1 25 | $46.3M | $-44.1M | ||
| Q4 24 | $50.0M | $-60.9M | ||
| Q3 24 | $53.9M | $-82.4M | ||
| Q2 24 | $60.8M | $-252.5M | ||
| Q1 24 | $51.6M | $-127.0M |
毛利率FSSLITE
| Q4 25 | 28.4% | 36.1% | ||
| Q3 25 | 29.1% | 34.0% | ||
| Q2 25 | 30.0% | 33.3% | ||
| Q1 25 | 28.2% | 28.8% | ||
| Q4 24 | 28.1% | 24.8% | ||
| Q3 24 | 29.6% | 23.1% | ||
| Q2 24 | 29.4% | 16.6% | ||
| Q1 24 | 27.3% | 16.2% |
营业利润率FSSLITE
| Q4 25 | 14.0% | 9.7% | ||
| Q3 25 | 16.9% | 1.3% | ||
| Q2 25 | 17.3% | -1.7% | ||
| Q1 25 | 14.2% | -8.9% | ||
| Q4 24 | 14.9% | -12.8% | ||
| Q3 24 | 16.0% | -24.5% | ||
| Q2 24 | 16.5% | -43.3% | ||
| Q1 24 | 12.8% | -31.3% |
净利率FSSLITE
| Q4 25 | 10.2% | 11.8% | ||
| Q3 25 | 12.3% | 0.8% | ||
| Q2 25 | 12.6% | 44.4% | ||
| Q1 25 | 10.0% | -10.4% | ||
| Q4 24 | 10.6% | -15.1% | ||
| Q3 24 | 11.4% | -24.5% | ||
| Q2 24 | 12.4% | -81.9% | ||
| Q1 24 | 12.1% | -34.7% |
每股收益（稀释后）FSSLITE
| Q4 25 | $0.99 | $0.89 | ||
| Q3 25 | $1.11 | $0.05 | ||
| Q2 25 | $1.16 | $3.10 | ||
| Q1 25 | $0.75 | $-0.64 | ||
| Q4 24 | $0.80 | $-0.88 | ||
| Q3 24 | $0.87 | $-1.21 | ||
| Q2 24 | $0.99 | $-3.75 | ||
| Q1 24 | $0.84 | $-1.88 |
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 | $63.7M | $1.2B |
| 总债务越低越好 | $564.6M | — |
| 股东权益账面价值 | $1.4B | $846.6M |
| 总资产 | $2.4B | $4.8B |
| 负债/权益比越低杠杆越低 | 0.41× | — |
8季度趋势，按日历期对齐
现金及短期投资FSSLITE
| Q4 25 | $63.7M | $1.2B | ||
| Q3 25 | $54.4M | $1.1B | ||
| Q2 25 | $64.7M | $877.1M | ||
| Q1 25 | $57.5M | $866.7M | ||
| Q4 24 | $91.1M | $896.7M | ||
| Q3 24 | $73.7M | $916.1M | ||
| Q2 24 | $48.6M | $887.0M | ||
| Q1 24 | $48.9M | $870.9M |
总债务FSSLITE
| Q4 25 | $564.6M | — | ||
| Q3 25 | $201.2M | — | ||
| Q2 25 | $258.3M | — | ||
| Q1 25 | $266.9M | — | ||
| Q4 24 | $204.4M | — | ||
| Q3 24 | $223.3M | — | ||
| Q2 24 | $248.8M | — | ||
| Q1 24 | $266.8M | — |
股东权益FSSLITE
| Q4 25 | $1.4B | $846.6M | ||
| Q3 25 | $1.3B | $780.8M | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.2B | $879.5M | ||
| Q4 24 | $1.2B | $872.3M | ||
| Q3 24 | $1.1B | $895.9M | ||
| Q2 24 | $1.1B | $957.3M | ||
| Q1 24 | $1.0B | $1.2B |
总资产FSSLITE
| Q4 25 | $2.4B | $4.8B | ||
| Q3 25 | $1.9B | $4.6B | ||
| Q2 25 | $1.9B | $4.2B | ||
| Q1 25 | $1.9B | $4.0B | ||
| Q4 24 | $1.8B | $4.0B | ||
| Q3 24 | $1.7B | $4.0B | ||
| Q2 24 | $1.7B | $3.9B | ||
| Q1 24 | $1.7B | $4.2B |
负债/权益比FSSLITE
| Q4 25 | 0.41× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.17× | — | ||
| Q3 24 | 0.19× | — | ||
| Q2 24 | 0.23× | — | ||
| Q1 24 | 0.26× | — |
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 | $97.2M | $126.7M |
| 自由现金流经营现金流 - 资本支出 | $89.5M | $43.1M |
| 自由现金流率自由现金流/营收 | 15.0% | 6.5% |
| 资本支出强度资本支出/营收 | 1.3% | 12.6% |
| 现金转化率经营现金流/净利润 | 1.60× | 1.62× |
| 过去12个月自由现金流最近4个季度 | $227.1M | $-29.5M |
8季度趋势，按日历期对齐
经营现金流FSSLITE
| Q4 25 | $97.2M | $126.7M | ||
| Q3 25 | $61.1M | $57.9M | ||
| Q2 25 | $59.7M | $64.0M | ||
| Q1 25 | $36.7M | $-1.6M | ||
| Q4 24 | $90.6M | $24.3M | ||
| Q3 24 | $68.8M | $39.6M | ||
| Q2 24 | $40.6M | $35.5M | ||
| Q1 24 | $31.3M | $-7.0M |
自由现金流FSSLITE
| Q4 25 | $89.5M | $43.1M | ||
| Q3 25 | $54.1M | $-18.3M | ||
| Q2 25 | $52.4M | $10.1M | ||
| Q1 25 | $31.1M | $-64.4M | ||
| Q4 24 | $82.1M | $-15.9M | ||
| Q3 24 | $60.9M | $-34.5M | ||
| Q2 24 | $24.8M | $10.9M | ||
| Q1 24 | $22.9M | $-26.6M |
自由现金流率FSSLITE
| Q4 25 | 15.0% | 6.5% | ||
| Q3 25 | 9.7% | -3.4% | ||
| Q2 25 | 9.3% | 2.1% | ||
| Q1 25 | 6.7% | -15.1% | ||
| Q4 24 | 17.4% | -4.0% | ||
| Q3 24 | 12.8% | -10.2% | ||
| Q2 24 | 5.1% | 3.5% | ||
| Q1 24 | 5.4% | -7.3% |
资本支出强度FSSLITE
| Q4 25 | 1.3% | 12.6% | ||
| Q3 25 | 1.3% | 14.3% | ||
| Q2 25 | 1.3% | 11.2% | ||
| Q1 25 | 1.2% | 14.8% | ||
| Q4 24 | 1.8% | 10.0% | ||
| Q3 24 | 1.7% | 22.0% | ||
| Q2 24 | 3.2% | 8.0% | ||
| Q1 24 | 2.0% | 5.3% |
现金转化率FSSLITE
| Q4 25 | 1.60× | 1.62× | ||
| Q3 25 | 0.90× | 13.79× | ||
| Q2 25 | 0.84× | 0.30× | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.28× | — | ||
| Q2 24 | 0.67× | — | ||
| Q1 24 | 0.61× | — |
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
FSS
| Vehiclesandequipment | $403.4M | 68% |
| Parts | $66.8M | 11% |
| Publicsafetyandsecurityequipment | $62.2M | 10% |
| Rentalincome | $19.0M | 3% |
| Industrialsignalingequipment | $18.2M | 3% |
| Other | $14.9M | 2% |
| Warningsystems | $12.6M | 2% |
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
