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FEDERAL SIGNAL CORP（FSS）与VinFast Auto Ltd.（VFS）财务数据对比。点击上方公司名可切换其他公司
VinFast Auto Ltd.的季度营收约是FEDERAL SIGNAL CORP的1.2倍（$718.6M vs $597.1M），FEDERAL SIGNAL CORP净利率更高（10.2% vs -2.8%，领先13.0%）
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。
VinFast Auto Ltd.是越南跨国汽车企业，由越南最大私营综合企业集团之一Vingroup创立。Vingroup由越南知名企业家潘日旺创办，业务覆盖地产、零售、医疗、科技等多个领域，是越南本土头部企业集团。
FSS vs VFS — 直观对比
营收规模更大
VFS
是对方的1.2倍
$597.1M
净利率更高
FSS
高出13.0%
-2.8%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $597.1M | $718.6M |
| 净利润 | $60.8M | $-20.0M |
| 毛利率 | 28.4% | — |
| 营业利润率 | 14.0% | -96.1% |
| 净利率 | 10.2% | -2.8% |
| 营收同比 | 26.5% | — |
| 净利润同比 | 21.6% | — |
| 每股收益（稀释后） | $0.99 | — |
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FSSVFS
| Q4 25 | $597.1M | — | ||
| Q3 25 | $555.0M | $718.6M | ||
| Q2 25 | $564.6M | $663.0M | ||
| Q1 25 | $463.8M | $656.5M | ||
| Q4 24 | $472.0M | — | ||
| Q3 24 | $474.2M | $511.6M | ||
| Q2 24 | $490.4M | — | ||
| Q1 24 | $424.9M | $302.6M |
净利润FSSVFS
| Q4 25 | $60.8M | — | ||
| Q3 25 | $68.1M | $-20.0M | ||
| Q2 25 | $71.4M | $-51.8M | ||
| Q1 25 | $46.3M | $-26.1M | ||
| Q4 24 | $50.0M | — | ||
| Q3 24 | $53.9M | $-10.4M | ||
| Q2 24 | $60.8M | — | ||
| Q1 24 | $51.6M | $-618.3M |
毛利率FSSVFS
| 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% | — | ||
| Q1 24 | 27.3% | — |
营业利润率FSSVFS
| Q4 25 | 14.0% | — | ||
| Q3 25 | 16.9% | -96.1% | ||
| Q2 25 | 17.3% | -79.0% | ||
| Q1 25 | 14.2% | -74.0% | ||
| Q4 24 | 14.9% | — | ||
| Q3 24 | 16.0% | -65.9% | ||
| Q2 24 | 16.5% | — | ||
| Q1 24 | 12.8% | -139.4% |
净利率FSSVFS
| Q4 25 | 10.2% | — | ||
| Q3 25 | 12.3% | -2.8% | ||
| Q2 25 | 12.6% | -7.8% | ||
| Q1 25 | 10.0% | -4.0% | ||
| Q4 24 | 10.6% | — | ||
| Q3 24 | 11.4% | -2.0% | ||
| Q2 24 | 12.4% | — | ||
| Q1 24 | 12.1% | -204.3% |
每股收益（稀释后）FSSVFS
| Q4 25 | $0.99 | — | ||
| Q3 25 | $1.11 | — | ||
| Q2 25 | $1.16 | — | ||
| Q1 25 | $0.75 | — | ||
| Q4 24 | $0.80 | — | ||
| Q3 24 | $0.87 | — | ||
| Q2 24 | $0.99 | — | ||
| Q1 24 | $0.84 | — |
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 | $8.8M |
| 总债务越低越好 | $564.6M | — |
| 股东权益账面价值 | $1.4B | — |
| 总资产 | $2.4B | $183.2M |
| 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FSSVFS
| Q4 25 | $63.7M | — | ||
| Q3 25 | $54.4M | $8.8M | ||
| Q2 25 | $64.7M | $650.0M | ||
| Q1 25 | $57.5M | $2.4M | ||
| Q4 24 | $91.1M | — | ||
| Q3 24 | $73.7M | $1.9M | ||
| Q2 24 | $48.6M | — | ||
| Q1 24 | $48.9M | $3.0M |
总债务FSSVFS
| 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FSSVFS
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | $-7.2B | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.0B | — |
总资产FSSVFS
| Q4 25 | $2.4B | — | ||
| Q3 25 | $1.9B | $183.2M | ||
| Q2 25 | $1.9B | $7.2B | ||
| Q1 25 | $1.9B | $158.2M | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.7B | $151.8M | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.7B | $145.6M |
负债/权益比FSSVFS
| 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 | — |
| 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FSSVFS
| Q4 25 | $97.2M | — | ||
| Q3 25 | $61.1M | — | ||
| Q2 25 | $59.7M | — | ||
| Q1 25 | $36.7M | — | ||
| Q4 24 | $90.6M | — | ||
| Q3 24 | $68.8M | — | ||
| Q2 24 | $40.6M | — | ||
| Q1 24 | $31.3M | — |
自由现金流FSSVFS
| 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FSSVFS
| 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FSSVFS
| 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FSSVFS
| 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× | — | ||
| 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% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
