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FEDERAL SIGNAL CORP（FSS）与RAYONIER ADVANCED MATERIALS INC.（RYAM）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RAYONIER ADVANCED MATERIALS INC.的1.4倍（$597.1M vs $417.5M），FEDERAL SIGNAL CORP净利率更高（10.2% vs -5.0%，领先15.2%），FEDERAL SIGNAL CORP同比增速更快（26.5% vs -1.2%），过去两年FEDERAL SIGNAL CORP的营收复合增速更高（18.5% vs 3.8%）
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。
RYAM（原雷尼尔先进材料公司）是一家美国全球性纤维素技术企业，主打高纯度特种纤维素产品，所生产的天然聚合物广泛应用于过滤器生产、食品加工、医药制造及各类工业领域，同时也为造纸和包装行业供应相关产品，在纤维素技术领域拥有较高的行业认可度。
FSS vs RYAM — 直观对比
营收规模更大
FSS
是对方的1.4倍
$417.5M
营收增速更快
FSS
高出27.7%
-1.2%
净利率更高
FSS
高出15.2%
-5.0%
两年增速更快
FSS
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $597.1M | $417.5M |
| 净利润 | $60.8M | $-21.1M |
| 毛利率 | 28.4% | 8.9% |
| 营业利润率 | 14.0% | 2.6% |
| 净利率 | 10.2% | -5.0% |
| 营收同比 | 26.5% | -1.2% |
| 净利润同比 | 21.6% | -31.9% |
| 每股收益（稀释后） | $0.99 | $-0.33 |
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FSSRYAM
| Q4 25 | $597.1M | $417.5M | ||
| Q3 25 | $555.0M | $352.8M | ||
| Q2 25 | $564.6M | $340.0M | ||
| Q1 25 | $463.8M | $356.0M | ||
| Q4 24 | $472.0M | $422.5M | ||
| Q3 24 | $474.2M | $401.1M | ||
| Q2 24 | $490.4M | $419.0M | ||
| Q1 24 | $424.9M | $387.7M |
净利润FSSRYAM
| Q4 25 | $60.8M | $-21.1M | ||
| Q3 25 | $68.1M | $-4.5M | ||
| Q2 25 | $71.4M | $-363.2M | ||
| Q1 25 | $46.3M | $-32.0M | ||
| Q4 24 | $50.0M | $-16.0M | ||
| Q3 24 | $53.9M | $-32.6M | ||
| Q2 24 | $60.8M | $11.4M | ||
| Q1 24 | $51.6M | $-1.6M |
毛利率FSSRYAM
| Q4 25 | 28.4% | 8.9% | ||
| Q3 25 | 29.1% | 9.7% | ||
| Q2 25 | 30.0% | 7.0% | ||
| Q1 25 | 28.2% | 6.8% | ||
| Q4 24 | 28.1% | 8.7% | ||
| Q3 24 | 29.6% | 10.9% | ||
| Q2 24 | 29.4% | 11.5% | ||
| Q1 24 | 27.3% | 9.5% |
营业利润率FSSRYAM
| Q4 25 | 14.0% | 2.6% | ||
| Q3 25 | 16.9% | 2.8% | ||
| Q2 25 | 17.3% | -0.4% | ||
| Q1 25 | 14.2% | -4.2% | ||
| Q4 24 | 14.9% | 2.6% | ||
| Q3 24 | 16.0% | -4.2% | ||
| Q2 24 | 16.5% | 6.7% | ||
| Q1 24 | 12.8% | 4.4% |
净利率FSSRYAM
| Q4 25 | 10.2% | -5.0% | ||
| Q3 25 | 12.3% | -1.3% | ||
| Q2 25 | 12.6% | -106.8% | ||
| Q1 25 | 10.0% | -9.0% | ||
| Q4 24 | 10.6% | -3.8% | ||
| Q3 24 | 11.4% | -8.1% | ||
| Q2 24 | 12.4% | 2.7% | ||
| Q1 24 | 12.1% | -0.4% |
每股收益（稀释后）FSSRYAM
| Q4 25 | $0.99 | $-0.33 | ||
| Q3 25 | $1.11 | $-0.07 | ||
| Q2 25 | $1.16 | $-5.44 | ||
| Q1 25 | $0.75 | $-0.49 | ||
| Q4 24 | $0.80 | $-0.25 | ||
| Q3 24 | $0.87 | $-0.49 | ||
| Q2 24 | $0.99 | $0.17 | ||
| Q1 24 | $0.84 | $-0.02 |
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 | $75.4M |
| 总债务越低越好 | $564.6M | $758.1M |
| 股东权益账面价值 | $1.4B | $316.6M |
| 总资产 | $2.4B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.41× | 2.39× |
8季度趋势，按日历期对齐
现金及短期投资FSSRYAM
| Q4 25 | $63.7M | $75.4M | ||
| Q3 25 | $54.4M | $77.0M | ||
| Q2 25 | $64.7M | $70.7M | ||
| Q1 25 | $57.5M | $129.9M | ||
| Q4 24 | $91.1M | $125.2M | ||
| Q3 24 | $73.7M | $136.1M | ||
| Q2 24 | $48.6M | $114.1M | ||
| Q1 24 | $48.9M | $54.6M |
总债务FSSRYAM
| Q4 25 | $564.6M | $758.1M | ||
| Q3 25 | $201.2M | $763.5M | ||
| Q2 25 | $258.3M | $720.4M | ||
| Q1 25 | $266.9M | $707.0M | ||
| Q4 24 | $204.4M | $706.4M | ||
| Q3 24 | $223.3M | $747.7M | ||
| Q2 24 | $248.8M | $752.8M | ||
| Q1 24 | $266.8M | $755.6M |
股东权益FSSRYAM
| Q4 25 | $1.4B | $316.6M | ||
| Q3 25 | $1.3B | $338.2M | ||
| Q2 25 | $1.3B | $342.3M | ||
| Q1 25 | $1.2B | $688.1M | ||
| Q4 24 | $1.2B | $713.9M | ||
| Q3 24 | $1.1B | $732.7M | ||
| Q2 24 | $1.1B | $755.1M | ||
| Q1 24 | $1.0B | $741.8M |
总资产FSSRYAM
| Q4 25 | $2.4B | $1.8B | ||
| Q3 25 | $1.9B | $1.8B | ||
| Q2 25 | $1.9B | $1.8B | ||
| Q1 25 | $1.9B | $2.1B | ||
| Q4 24 | $1.8B | $2.1B | ||
| Q3 24 | $1.7B | $2.2B | ||
| Q2 24 | $1.7B | $2.2B | ||
| Q1 24 | $1.7B | $2.1B |
负债/权益比FSSRYAM
| Q4 25 | 0.41× | 2.39× | ||
| Q3 25 | 0.15× | 2.26× | ||
| Q2 25 | 0.20× | 2.10× | ||
| Q1 25 | 0.22× | 1.03× | ||
| Q4 24 | 0.17× | 0.99× | ||
| Q3 24 | 0.19× | 1.02× | ||
| Q2 24 | 0.23× | 1.00× | ||
| Q1 24 | 0.26× | 1.02× |
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 | $32.3M |
| 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FSSRYAM
| Q4 25 | $97.2M | $32.3M | ||
| Q3 25 | $61.1M | $-17.8M | ||
| Q2 25 | $59.7M | $-30.2M | ||
| Q1 25 | $36.7M | $39.6M | ||
| Q4 24 | $90.6M | $54.9M | ||
| Q3 24 | $68.8M | $49.8M | ||
| Q2 24 | $40.6M | $87.6M | ||
| Q1 24 | $31.3M | $11.3M |
自由现金流FSSRYAM
| Q4 25 | $89.5M | — | ||
| Q3 25 | $54.1M | — | ||
| Q2 25 | $52.4M | — | ||
| Q1 25 | $31.1M | — | ||
| Q4 24 | $82.1M | — | ||
| Q3 24 | $60.9M | — | ||
| Q2 24 | $24.8M | — | ||
| Q1 24 | $22.9M | — |
自由现金流率FSSRYAM
| Q4 25 | 15.0% | — | ||
| Q3 25 | 9.7% | — | ||
| Q2 25 | 9.3% | — | ||
| Q1 25 | 6.7% | — | ||
| Q4 24 | 17.4% | — | ||
| Q3 24 | 12.8% | — | ||
| Q2 24 | 5.1% | — | ||
| Q1 24 | 5.4% | — |
资本支出强度FSSRYAM
| Q4 25 | 1.3% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 2.0% | — |
现金转化率FSSRYAM
| Q4 25 | 1.60× | — | ||
| Q3 25 | 0.90× | — | ||
| Q2 25 | 0.84× | — | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.28× | — | ||
| Q2 24 | 0.67× | 7.69× | ||
| 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% |
RYAM
| Cellulose Specialties | $249.6M | 60% |
| Other | $86.2M | 21% |
| Paperboard | $44.2M | 11% |
| High Yield Pulp | $28.3M | 7% |
| Biomaterials | $9.2M | 2% |
