vs
FEDERAL SIGNAL CORP（FSS）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
思佳讯的季度营收约是FEDERAL SIGNAL CORP的1.7倍（$1.0B vs $597.1M），FEDERAL SIGNAL CORP净利率更高（10.2% vs 7.6%，领先2.5%），FEDERAL SIGNAL CORP同比增速更快（26.5% vs 8.6%），思佳讯自由现金流更多（$339.0M vs $89.5M），过去两年FEDERAL SIGNAL CORP的营收复合增速更高（18.5% vs -0.5%）
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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
FSS vs SWKS — 直观对比
营收规模更大
SWKS
是对方的1.7倍
$597.1M
营收增速更快
FSS
高出17.9%
8.6%
净利率更高
FSS
高出2.5%
7.6%
自由现金流更多
SWKS
多$249.5M
$89.5M
两年增速更快
FSS
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $597.1M | $1.0B |
| 净利润 | $60.8M | $79.2M |
| 毛利率 | 28.4% | 41.3% |
| 营业利润率 | 14.0% | 10.0% |
| 净利率 | 10.2% | 7.6% |
| 营收同比 | 26.5% | 8.6% |
| 净利润同比 | 21.6% | 15.3% |
| 每股收益（稀释后） | $0.99 | $0.53 |
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FSSSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $597.1M | $1.1B | ||
| Q3 25 | $555.0M | — | ||
| Q2 25 | $564.6M | $965.0M | ||
| Q1 25 | $463.8M | $953.2M | ||
| Q4 24 | $472.0M | $1.1B | ||
| Q3 24 | $474.2M | $1.0B | ||
| Q2 24 | $490.4M | $905.5M |
净利润FSSSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $60.8M | $141.4M | ||
| Q3 25 | $68.1M | — | ||
| Q2 25 | $71.4M | $105.0M | ||
| Q1 25 | $46.3M | $68.7M | ||
| Q4 24 | $50.0M | $162.0M | ||
| Q3 24 | $53.9M | $60.5M | ||
| Q2 24 | $60.8M | $120.9M |
毛利率FSSSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | 28.4% | 40.7% | ||
| Q3 25 | 29.1% | — | ||
| Q2 25 | 30.0% | 41.6% | ||
| Q1 25 | 28.2% | 41.1% | ||
| Q4 24 | 28.1% | 41.4% | ||
| Q3 24 | 29.6% | 41.9% | ||
| Q2 24 | 29.4% | 40.2% |
营业利润率FSSSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | 14.0% | 10.1% | ||
| Q3 25 | 16.9% | — | ||
| Q2 25 | 17.3% | 11.5% | ||
| Q1 25 | 14.2% | 10.2% | ||
| Q4 24 | 14.9% | 16.9% | ||
| Q3 24 | 16.0% | 5.8% | ||
| Q2 24 | 16.5% | 14.4% |
净利率FSSSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | 10.2% | 12.9% | ||
| Q3 25 | 12.3% | — | ||
| Q2 25 | 12.6% | 10.9% | ||
| Q1 25 | 10.0% | 7.2% | ||
| Q4 24 | 10.6% | 15.2% | ||
| Q3 24 | 11.4% | 5.9% | ||
| Q2 24 | 12.4% | 13.4% |
每股收益（稀释后）FSSSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $0.99 | $0.95 | ||
| Q3 25 | $1.11 | — | ||
| Q2 25 | $1.16 | $0.70 | ||
| Q1 25 | $0.75 | $0.43 | ||
| Q4 24 | $0.80 | $1.00 | ||
| Q3 24 | $0.87 | $0.36 | ||
| Q2 24 | $0.99 | $0.75 |
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 | $1.6B |
| 总债务越低越好 | $564.6M | $496.6M |
| 股东权益账面价值 | $1.4B | $5.8B |
| 总资产 | $2.4B | $7.9B |
| 负债/权益比越低杠杆越低 | 0.41× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资FSSSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $63.7M | $1.4B | ||
| Q3 25 | $54.4M | — | ||
| Q2 25 | $64.7M | $1.3B | ||
| Q1 25 | $57.5M | $1.5B | ||
| Q4 24 | $91.1M | $1.7B | ||
| Q3 24 | $73.7M | $1.6B | ||
| Q2 24 | $48.6M | $1.3B |
总债务FSSSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | $564.6M | $496.4M | ||
| Q3 25 | $201.2M | — | ||
| Q2 25 | $258.3M | $496.2M | ||
| Q1 25 | $266.9M | $995.1M | ||
| Q4 24 | $204.4M | $994.7M | ||
| Q3 24 | $223.3M | $994.3M | ||
| Q2 24 | $248.8M | $994.0M |
股东权益FSSSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $1.4B | $5.8B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | $5.7B | ||
| Q1 25 | $1.2B | $5.9B | ||
| Q4 24 | $1.2B | $6.4B | ||
| Q3 24 | $1.1B | $6.3B | ||
| Q2 24 | $1.1B | $6.3B |
总资产FSSSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $2.4B | $7.9B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.9B | $7.7B | ||
| Q1 25 | $1.9B | $7.9B | ||
| Q4 24 | $1.8B | $8.3B | ||
| Q3 24 | $1.7B | $8.3B | ||
| Q2 24 | $1.7B | $8.2B |
负债/权益比FSSSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | 0.41× | 0.09× | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 0.20× | 0.09× | ||
| Q1 25 | 0.22× | 0.17× | ||
| Q4 24 | 0.17× | 0.16× | ||
| Q3 24 | 0.19× | 0.16× | ||
| Q2 24 | 0.23× | 0.16× |
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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $89.5M | $339.0M |
| 自由现金流率自由现金流/营收 | 15.0% | 32.7% |
| 资本支出强度资本支出/营收 | 1.3% | 5.5% |
| 现金转化率经营现金流/净利润 | 1.60× | 4.99× |
| 过去12个月自由现金流最近4个季度 | $227.1M | $1.1B |
8季度趋势，按日历期对齐
经营现金流FSSSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $97.2M | $200.0M | ||
| Q3 25 | $61.1M | — | ||
| Q2 25 | $59.7M | $314.2M | ||
| Q1 25 | $36.7M | $409.4M | ||
| Q4 24 | $90.6M | $377.2M | ||
| Q3 24 | $68.8M | $476.1M | ||
| Q2 24 | $40.6M | $273.4M |
自由现金流FSSSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $89.5M | $144.0M | ||
| Q3 25 | $54.1M | — | ||
| Q2 25 | $52.4M | $252.7M | ||
| Q1 25 | $31.1M | $370.9M | ||
| Q4 24 | $82.1M | $338.2M | ||
| Q3 24 | $60.9M | $393.3M | ||
| Q2 24 | $24.8M | $249.0M |
自由现金流率FSSSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 15.0% | 13.1% | ||
| Q3 25 | 9.7% | — | ||
| Q2 25 | 9.3% | 26.2% | ||
| Q1 25 | 6.7% | 38.9% | ||
| Q4 24 | 17.4% | 31.7% | ||
| Q3 24 | 12.8% | 38.4% | ||
| Q2 24 | 5.1% | 27.5% |
资本支出强度FSSSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 1.3% | 5.1% | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 1.3% | 6.4% | ||
| Q1 25 | 1.2% | 4.0% | ||
| Q4 24 | 1.8% | 3.6% | ||
| Q3 24 | 1.7% | 8.1% | ||
| Q2 24 | 3.2% | 2.7% |
现金转化率FSSSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | 1.60× | 1.41× | ||
| Q3 25 | 0.90× | — | ||
| Q2 25 | 0.84× | 2.99× | ||
| Q1 25 | 0.79× | 5.96× | ||
| Q4 24 | 1.81× | 2.33× | ||
| Q3 24 | 1.28× | 7.87× | ||
| Q2 24 | 0.67× | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
