vs
FEDERAL SIGNAL CORP（FSS）与ORMAT TECHNOLOGIES, INC.（ORA）财务数据对比。点击上方公司名可切换其他公司
FEDERAL SIGNAL CORP的季度营收约是ORMAT TECHNOLOGIES, INC.的1.5倍（$597.1M vs $403.9M），ORMAT TECHNOLOGIES, INC.净利率更高（10.9% vs 10.2%，领先0.7%），ORMAT TECHNOLOGIES, INC.同比增速更快（75.8% vs 26.5%），过去两年ORMAT TECHNOLOGIES, INC.的营收复合增速更高（37.7% 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。
Ormat Technologies是总部位于美国内华达州里诺的跨国企业，主打可再生地热能源技术，累计建成超190座电站，总装机容量超3200兆瓦；截至2021年1月自主运营933兆瓦地热及余热回收电站，还向全球多国供应超千台涡轮增压器。
FSS vs ORA — 直观对比
营收规模更大
FSS
是对方的1.5倍
$403.9M
营收增速更快
ORA
高出49.3%
26.5%
净利率更高
ORA
高出0.7%
10.2%
两年增速更快
ORA
近两年复合增速
18.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $597.1M | $403.9M |
| 净利润 | $60.8M | $44.1M |
| 毛利率 | 28.4% | 29.8% |
| 营业利润率 | 14.0% | 19.9% |
| 净利率 | 10.2% | 10.9% |
| 营收同比 | 26.5% | 75.8% |
| 净利润同比 | 21.6% | 9.2% |
| 每股收益（稀释后） | $0.99 | $0.71 |
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FSSORA
| Q1 26 | — | $403.9M | ||
| Q4 25 | $597.1M | $276.0M | ||
| Q3 25 | $555.0M | $249.7M | ||
| Q2 25 | $564.6M | $234.0M | ||
| Q1 25 | $463.8M | $229.8M | ||
| Q4 24 | $472.0M | $230.7M | ||
| Q3 24 | $474.2M | $211.8M | ||
| Q2 24 | $490.4M | $213.0M |
净利润FSSORA
| Q1 26 | — | $44.1M | ||
| Q4 25 | $60.8M | $31.4M | ||
| Q3 25 | $68.1M | $24.1M | ||
| Q2 25 | $71.4M | $28.0M | ||
| Q1 25 | $46.3M | $40.4M | ||
| Q4 24 | $50.0M | $40.8M | ||
| Q3 24 | $53.9M | $22.1M | ||
| Q2 24 | $60.8M | $22.2M |
毛利率FSSORA
| Q1 26 | — | 29.8% | ||
| Q4 25 | 28.4% | 28.6% | ||
| Q3 25 | 29.1% | 25.6% | ||
| Q2 25 | 30.0% | 24.3% | ||
| Q1 25 | 28.2% | 31.7% | ||
| Q4 24 | 28.1% | 31.9% | ||
| Q3 24 | 29.6% | 27.8% | ||
| Q2 24 | 29.4% | 28.8% |
营业利润率FSSORA
| Q1 26 | — | 19.9% | ||
| Q4 25 | 14.0% | 15.4% | ||
| Q3 25 | 16.9% | 16.2% | ||
| Q2 25 | 17.3% | 15.1% | ||
| Q1 25 | 14.2% | 22.2% | ||
| Q4 24 | 14.9% | 21.3% | ||
| Q3 24 | 16.0% | 16.8% | ||
| Q2 24 | 16.5% | 16.5% |
净利率FSSORA
| Q1 26 | — | 10.9% | ||
| Q4 25 | 10.2% | 11.4% | ||
| Q3 25 | 12.3% | 9.7% | ||
| Q2 25 | 12.6% | 12.0% | ||
| Q1 25 | 10.0% | 17.6% | ||
| Q4 24 | 10.6% | 17.7% | ||
| Q3 24 | 11.4% | 10.4% | ||
| Q2 24 | 12.4% | 10.4% |
每股收益（稀释后）FSSORA
| Q1 26 | — | $0.71 | ||
| Q4 25 | $0.99 | $0.51 | ||
| Q3 25 | $1.11 | $0.39 | ||
| Q2 25 | $1.16 | $0.46 | ||
| Q1 25 | $0.75 | $0.66 | ||
| Q4 24 | $0.80 | $0.67 | ||
| Q3 24 | $0.87 | $0.36 | ||
| Q2 24 | $0.99 | $0.37 |
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 | $654.6M |
| 总债务越低越好 | $564.6M | — |
| 股东权益账面价值 | $1.4B | $2.7B |
| 总资产 | $2.4B | $6.8B |
| 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FSSORA
| Q1 26 | — | $654.6M | ||
| Q4 25 | $63.7M | $147.4M | ||
| Q3 25 | $54.4M | $79.6M | ||
| Q2 25 | $64.7M | $88.5M | ||
| Q1 25 | $57.5M | $112.7M | ||
| Q4 24 | $91.1M | $94.4M | ||
| Q3 24 | $73.7M | $88.1M | ||
| Q2 24 | $48.6M | $66.3M |
总债务FSSORA
| Q1 26 | — | — | ||
| Q4 25 | $564.6M | $2.7B | ||
| Q3 25 | $201.2M | — | ||
| Q2 25 | $258.3M | — | ||
| Q1 25 | $266.9M | — | ||
| Q4 24 | $204.4M | $2.3B | ||
| Q3 24 | $223.3M | — | ||
| Q2 24 | $248.8M | — |
股东权益FSSORA
| Q1 26 | — | $2.7B | ||
| Q4 25 | $1.4B | $2.5B | ||
| Q3 25 | $1.3B | $2.5B | ||
| Q2 25 | $1.3B | $2.5B | ||
| Q1 25 | $1.2B | $2.5B | ||
| Q4 24 | $1.2B | $2.4B | ||
| Q3 24 | $1.1B | $2.4B | ||
| Q2 24 | $1.1B | $2.4B |
总资产FSSORA
| Q1 26 | — | $6.8B | ||
| Q4 25 | $2.4B | $6.2B | ||
| Q3 25 | $1.9B | $6.1B | ||
| Q2 25 | $1.9B | $6.0B | ||
| Q1 25 | $1.9B | $5.8B | ||
| Q4 24 | $1.8B | $5.7B | ||
| Q3 24 | $1.7B | $5.6B | ||
| Q2 24 | $1.7B | $5.5B |
负债/权益比FSSORA
| Q1 26 | — | — | ||
| Q4 25 | 0.41× | 1.05× | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.17× | 0.97× | ||
| Q3 24 | 0.19× | — | ||
| Q2 24 | 0.23× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $89.5M | — |
| 自由现金流率自由现金流/营收 | 15.0% | — |
| 资本支出强度资本支出/营收 | 1.3% | — |
| 现金转化率经营现金流/净利润 | 1.60× | — |
| 过去12个月自由现金流最近4个季度 | $227.1M | — |
8季度趋势，按日历期对齐
经营现金流FSSORA
| Q1 26 | — | — | ||
| Q4 25 | $97.2M | $105.0M | ||
| Q3 25 | $61.1M | $45.2M | ||
| Q2 25 | $59.7M | $96.9M | ||
| Q1 25 | $36.7M | $88.0M | ||
| Q4 24 | $90.6M | $158.6M | ||
| Q3 24 | $68.8M | $106.4M | ||
| Q2 24 | $40.6M | $30.7M |
自由现金流FSSORA
| Q1 26 | — | — | ||
| Q4 25 | $89.5M | $-40.0M | ||
| Q3 25 | $54.1M | $-102.1M | ||
| Q2 25 | $52.4M | $-37.9M | ||
| Q1 25 | $31.1M | $-104.6M | ||
| Q4 24 | $82.1M | $30.9M | ||
| Q3 24 | $60.9M | $-3.3M | ||
| Q2 24 | $24.8M | $-116.1M |
自由现金流率FSSORA
| Q1 26 | — | — | ||
| Q4 25 | 15.0% | -14.5% | ||
| Q3 25 | 9.7% | -40.9% | ||
| Q2 25 | 9.3% | -16.2% | ||
| Q1 25 | 6.7% | -45.5% | ||
| Q4 24 | 17.4% | 13.4% | ||
| Q3 24 | 12.8% | -1.6% | ||
| Q2 24 | 5.1% | -54.5% |
资本支出强度FSSORA
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 52.6% | ||
| Q3 25 | 1.3% | 59.0% | ||
| Q2 25 | 1.3% | 57.6% | ||
| Q1 25 | 1.2% | 83.8% | ||
| Q4 24 | 1.8% | 55.4% | ||
| Q3 24 | 1.7% | 51.8% | ||
| Q2 24 | 3.2% | 69.0% |
现金转化率FSSORA
| Q1 26 | — | — | ||
| Q4 25 | 1.60× | 3.35× | ||
| Q3 25 | 0.90× | 1.87× | ||
| Q2 25 | 0.84× | 3.45× | ||
| Q1 25 | 0.79× | 2.18× | ||
| Q4 24 | 1.81× | 3.89× | ||
| Q3 24 | 1.28× | 4.82× | ||
| Q2 24 | 0.67× | 1.38× |
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% |
ORA
| Electricity | $181.6M | 45% |
| Product | $177.4M | 44% |
| Energy storage | $44.9M | 11% |
