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FEDERAL SIGNAL CORP（FSS）与SLM Corp（SLM）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SLM Corp的1.1倍（$597.1M vs $560.0M），SLM Corp净利率更高（55.0% vs 10.2%，领先44.8%），过去两年SLM Corp的营收复合增速更高（22.7% 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。
尼康旗下SLM Solutions AG总部位于德国吕贝克，是金属3D打印机领域的上市生产商，共同拥有SLM文字商标，集团股份自2014年5月9日起在法兰克福证券交易所高级市场板块挂牌交易。
FSS vs SLM — 直观对比
营收规模更大
FSS
是对方的1.1倍
$560.0M
净利率更高
SLM
高出44.8%
10.2%
两年增速更快
SLM
近两年复合增速
18.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $597.1M | $560.0M |
| 净利润 | $60.8M | $308.0M |
| 毛利率 | 28.4% | — |
| 营业利润率 | 14.0% | — |
| 净利率 | 10.2% | 55.0% |
| 营收同比 | 26.5% | — |
| 净利润同比 | 21.6% | 1.0% |
| 每股收益（稀释后） | $0.99 | $1.54 |
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FSSSLM
| Q1 26 | — | $560.0M | ||
| Q4 25 | $597.1M | $377.1M | ||
| Q3 25 | $555.0M | $373.0M | ||
| Q2 25 | $564.6M | $376.8M | ||
| Q1 25 | $463.8M | $375.0M | ||
| Q4 24 | $472.0M | $362.2M | ||
| Q3 24 | $474.2M | $359.4M | ||
| Q2 24 | $490.4M | $372.2M |
净利润FSSSLM
| Q1 26 | — | $308.0M | ||
| Q4 25 | $60.8M | $233.2M | ||
| Q3 25 | $68.1M | $135.8M | ||
| Q2 25 | $71.4M | $71.3M | ||
| Q1 25 | $46.3M | $304.5M | ||
| Q4 24 | $50.0M | $111.6M | ||
| Q3 24 | $53.9M | $-45.2M | ||
| Q2 24 | $60.8M | $252.0M |
毛利率FSSSLM
| Q1 26 | — | — | ||
| Q4 25 | 28.4% | — | ||
| Q3 25 | 29.1% | — | ||
| Q2 25 | 30.0% | — | ||
| Q1 25 | 28.2% | — | ||
| Q4 24 | 28.1% | — | ||
| Q3 24 | 29.6% | — | ||
| Q2 24 | 29.4% | — |
营业利润率FSSSLM
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 83.8% | ||
| Q3 25 | 16.9% | 49.8% | ||
| Q2 25 | 17.3% | 23.3% | ||
| Q1 25 | 14.2% | — | ||
| Q4 24 | 14.9% | 36.5% | ||
| Q3 24 | 16.0% | -16.6% | ||
| Q2 24 | 16.5% | 91.0% |
净利率FSSSLM
| Q1 26 | — | 55.0% | ||
| Q4 25 | 10.2% | 61.8% | ||
| Q3 25 | 12.3% | 36.4% | ||
| Q2 25 | 12.6% | 18.9% | ||
| Q1 25 | 10.0% | 81.2% | ||
| Q4 24 | 10.6% | 30.8% | ||
| Q3 24 | 11.4% | -12.6% | ||
| Q2 24 | 12.4% | 67.7% |
每股收益（稀释后）FSSSLM
| Q1 26 | — | $1.54 | ||
| Q4 25 | $0.99 | $1.11 | ||
| Q3 25 | $1.11 | $0.63 | ||
| Q2 25 | $1.16 | $0.32 | ||
| Q1 25 | $0.75 | $1.40 | ||
| Q4 24 | $0.80 | $0.53 | ||
| Q3 24 | $0.87 | $-0.23 | ||
| Q2 24 | $0.99 | $1.11 |
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 | $5.2B |
| 总债务越低越好 | $564.6M | $6.2B |
| 股东权益账面价值 | $1.4B | $2.4B |
| 总资产 | $2.4B | $29.4B |
| 负债/权益比越低杠杆越低 | 0.41× | 2.53× |
8季度趋势，按日历期对齐
现金及短期投资FSSSLM
| Q1 26 | — | $5.2B | ||
| Q4 25 | $63.7M | $4.2B | ||
| Q3 25 | $54.4M | $3.5B | ||
| Q2 25 | $64.7M | $4.1B | ||
| Q1 25 | $57.5M | $3.7B | ||
| Q4 24 | $91.1M | $4.7B | ||
| Q3 24 | $73.7M | $4.5B | ||
| Q2 24 | $48.6M | $5.3B |
总债务FSSSLM
| Q1 26 | — | $6.2B | ||
| Q4 25 | $564.6M | $5.4B | ||
| Q3 25 | $201.2M | $6.8B | ||
| Q2 25 | $258.3M | $6.4B | ||
| Q1 25 | $266.9M | $6.1B | ||
| Q4 24 | $204.4M | $6.4B | ||
| Q3 24 | $223.3M | $6.0B | ||
| Q2 24 | $248.8M | $5.4B |
股东权益FSSSLM
| Q1 26 | — | $2.4B | ||
| Q4 25 | $1.4B | $2.5B | ||
| Q3 25 | $1.3B | $2.3B | ||
| Q2 25 | $1.3B | $2.4B | ||
| Q1 25 | $1.2B | $2.4B | ||
| Q4 24 | $1.2B | $2.2B | ||
| Q3 24 | $1.1B | $2.1B | ||
| Q2 24 | $1.1B | $2.3B |
总资产FSSSLM
| Q1 26 | — | $29.4B | ||
| Q4 25 | $2.4B | $29.7B | ||
| Q3 25 | $1.9B | $29.6B | ||
| Q2 25 | $1.9B | $29.6B | ||
| Q1 25 | $1.9B | $28.9B | ||
| Q4 24 | $1.8B | $30.1B | ||
| Q3 24 | $1.7B | $30.0B | ||
| Q2 24 | $1.7B | $28.8B |
负债/权益比FSSSLM
| Q1 26 | — | 2.53× | ||
| Q4 25 | 0.41× | 2.19× | ||
| Q3 25 | 0.15× | 2.92× | ||
| Q2 25 | 0.20× | 2.70× | ||
| Q1 25 | 0.22× | 2.56× | ||
| Q4 24 | 0.17× | 2.98× | ||
| Q3 24 | 0.19× | 2.83× | ||
| Q2 24 | 0.23× | 2.37× |
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FSSSLM
| Q1 26 | — | — | ||
| Q4 25 | $97.2M | $-64.5M | ||
| Q3 25 | $61.1M | $-49.3M | ||
| Q2 25 | $59.7M | $-138.7M | ||
| Q1 25 | $36.7M | $-146.1M | ||
| Q4 24 | $90.6M | $4.5M | ||
| Q3 24 | $68.8M | $-113.4M | ||
| Q2 24 | $40.6M | $-143.8M |
自由现金流FSSSLM
| Q1 26 | — | — | ||
| 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 | — |
自由现金流率FSSSLM
| Q1 26 | — | — | ||
| 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% | — |
资本支出强度FSSSLM
| Q1 26 | — | — | ||
| 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% | — |
现金转化率FSSSLM
| Q1 26 | — | — | ||
| Q4 25 | 1.60× | -0.28× | ||
| Q3 25 | 0.90× | -0.36× | ||
| Q2 25 | 0.84× | -1.95× | ||
| Q1 25 | 0.79× | -0.48× | ||
| Q4 24 | 1.81× | 0.04× | ||
| Q3 24 | 1.28× | — | ||
| Q2 24 | 0.67× | -0.57× |
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% |
SLM
| Net Interest Income | $375.0M | 67% |
| Noninterest Income | $185.0M | 33% |
