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飞塔（FTNT）与iHeartMedia, Inc.（IHRT）财务数据对比。点击上方公司名可切换其他公司
飞塔的季度营收约是iHeartMedia, Inc.的1.7倍（$1.9B vs $1.1B），飞塔净利率更高（26.6% vs -3.7%，领先30.3%），飞塔同比增速更快（14.8% vs 0.8%），飞塔自由现金流更多（$577.4M vs $137.6M），过去两年iHeartMedia, Inc.的营收复合增速更高（18.8% vs 18.6%）
飞塔（Fortinet）是总部位于美国加利福尼亚州森尼韦尔的网络安全企业，专注于研发与销售防火墙、终端安全、入侵检测系统等各类网络安全产品，目前在美国、加拿大、英国等多个国家设有办事机构。
iHeartMedia是一家总部位于美国德克萨斯州圣安东尼奥的大众传媒企业，前身为清晰频道通信公司，1972年由劳里·梅斯与雷德·麦库姆斯创立，2008年由贝恩资本和托马斯·李合作伙伴公司通过杠杆收购完成私有化，目前是美国知名的传媒控股集团。
FTNT vs IHRT — 直观对比
营收规模更大
FTNT
是对方的1.7倍
$1.1B
营收增速更快
FTNT
高出14.0%
0.8%
净利率更高
FTNT
高出30.3%
-3.7%
自由现金流更多
FTNT
多$439.8M
$137.6M
两年增速更快
IHRT
近两年复合增速
18.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.1B |
| 净利润 | $506.0M | $-41.9M |
| 毛利率 | 79.6% | — |
| 营业利润率 | 32.8% | 7.6% |
| 净利率 | 26.6% | -3.7% |
| 营收同比 | 14.8% | 0.8% |
| 净利润同比 | -3.8% | -233.1% |
| 每股收益（稀释后） | $0.67 | $-0.25 |
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FTNTIHRT
| Q4 25 | $1.9B | $1.1B | ||
| Q3 25 | $1.7B | $997.0M | ||
| Q2 25 | $1.6B | $933.7M | ||
| Q1 25 | $1.5B | $807.1M | ||
| Q4 24 | $1.7B | $1.1B | ||
| Q3 24 | $1.5B | $1.0B | ||
| Q2 24 | $1.4B | $929.1M | ||
| Q1 24 | $1.4B | $799.0M |
净利润FTNTIHRT
| Q4 25 | $506.0M | $-41.9M | ||
| Q3 25 | $473.9M | $-66.3M | ||
| Q2 25 | $440.1M | $-83.5M | ||
| Q1 25 | $433.4M | $-281.2M | ||
| Q4 24 | $526.2M | $31.5M | ||
| Q3 24 | $539.9M | $-41.3M | ||
| Q2 24 | $379.8M | $-981.7M | ||
| Q1 24 | $299.3M | $-18.5M |
毛利率FTNTIHRT
| Q4 25 | 79.6% | — | ||
| Q3 25 | 80.8% | — | ||
| Q2 25 | 80.7% | — | ||
| Q1 25 | 81.0% | — | ||
| Q4 24 | 81.1% | — | ||
| Q3 24 | 82.5% | — | ||
| Q2 24 | 80.8% | — | ||
| Q1 24 | 77.5% | — |
营业利润率FTNTIHRT
| Q4 25 | 32.8% | 7.6% | ||
| Q3 25 | 31.7% | -11.7% | ||
| Q2 25 | 28.1% | 3.8% | ||
| Q1 25 | 29.5% | -3.2% | ||
| Q4 24 | 34.6% | 9.3% | ||
| Q3 24 | 31.2% | 7.6% | ||
| Q2 24 | 30.5% | -97.9% | ||
| Q1 24 | 23.7% | -4.3% |
净利率FTNTIHRT
| Q4 25 | 26.6% | -3.7% | ||
| Q3 25 | 27.5% | -6.6% | ||
| Q2 25 | 27.0% | -8.9% | ||
| Q1 25 | 28.1% | -34.8% | ||
| Q4 24 | 31.7% | 2.8% | ||
| Q3 24 | 35.8% | -4.1% | ||
| Q2 24 | 26.5% | -105.7% | ||
| Q1 24 | 22.1% | -2.3% |
每股收益（稀释后）FTNTIHRT
| Q4 25 | $0.67 | $-0.25 | ||
| Q3 25 | $0.62 | $-0.43 | ||
| Q2 25 | $0.57 | $-0.54 | ||
| Q1 25 | $0.56 | $-1.84 | ||
| Q4 24 | $0.68 | $0.21 | ||
| Q3 24 | $0.70 | $-0.27 | ||
| Q2 24 | $0.49 | $-6.50 | ||
| Q1 24 | $0.39 | $-0.12 |
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 | $2.5B | $270.9M |
| 总债务越低越好 | — | $5.1B |
| 股东权益账面价值 | $1.2B | $-1.8B |
| 总资产 | $10.4B | $5.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资FTNTIHRT
| Q4 25 | $2.5B | $270.9M | ||
| Q3 25 | $2.0B | $192.2M | ||
| Q2 25 | $3.4B | $235.9M | ||
| Q1 25 | $3.6B | $167.7M | ||
| Q4 24 | $2.9B | $259.6M | ||
| Q3 24 | $2.5B | $431.8M | ||
| Q2 24 | $2.2B | $364.7M | ||
| Q1 24 | $1.9B | $361.4M |
总债务FTNTIHRT
| Q4 25 | — | $5.1B | ||
| Q3 25 | — | $5.1B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.2B | ||
| Q1 24 | — | $5.1B |
股东权益FTNTIHRT
| Q4 25 | $1.2B | $-1.8B | ||
| Q3 25 | $735.1M | $-1.8B | ||
| Q2 25 | $2.1B | $-1.7B | ||
| Q1 25 | $2.0B | $-1.6B | ||
| Q4 24 | $1.5B | $-1.4B | ||
| Q3 24 | $908.1M | $-1.4B | ||
| Q2 24 | $288.2M | $-1.4B | ||
| Q1 24 | $-137.5M | $-398.6M |
总资产FTNTIHRT
| Q4 25 | $10.4B | $5.1B | ||
| Q3 25 | $9.4B | $5.1B | ||
| Q2 25 | $10.6B | $5.4B | ||
| Q1 25 | $10.4B | $5.3B | ||
| Q4 24 | $9.8B | $5.6B | ||
| Q3 24 | $8.9B | $5.8B | ||
| Q2 24 | $8.1B | $5.8B | ||
| Q1 24 | $7.7B | $6.8B |
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 | $620.2M | $156.3M |
| 自由现金流经营现金流 - 资本支出 | $577.4M | $137.6M |
| 自由现金流率自由现金流/营收 | 30.3% | 12.2% |
| 资本支出强度资本支出/营收 | 2.2% | 1.7% |
| 现金转化率经营现金流/净利润 | 1.23× | — |
| 过去12个月自由现金流最近4个季度 | $2.2B | $10.9M |
8季度趋势，按日历期对齐
经营现金流FTNTIHRT
| Q4 25 | $620.2M | $156.3M | ||
| Q3 25 | $655.2M | $-9.5M | ||
| Q2 25 | $451.9M | $6.8M | ||
| Q1 25 | $863.3M | $-60.9M | ||
| Q4 24 | $477.6M | $1.2M | ||
| Q3 24 | $608.1M | $102.8M | ||
| Q2 24 | $342.0M | $26.7M | ||
| Q1 24 | $830.4M | $-59.3M |
自由现金流FTNTIHRT
| Q4 25 | $577.4M | $137.6M | ||
| Q3 25 | $567.5M | $-32.8M | ||
| Q2 25 | $284.1M | $-13.2M | ||
| Q1 25 | $796.8M | $-80.7M | ||
| Q4 24 | $380.0M | $-24.2M | ||
| Q3 24 | $571.8M | $73.3M | ||
| Q2 24 | $318.9M | $5.6M | ||
| Q1 24 | $608.5M | $-80.9M |
自由现金流率FTNTIHRT
| Q4 25 | 30.3% | 12.2% | ||
| Q3 25 | 32.9% | -3.3% | ||
| Q2 25 | 17.4% | -1.4% | ||
| Q1 25 | 51.8% | -10.0% | ||
| Q4 24 | 22.9% | -2.2% | ||
| Q3 24 | 37.9% | 7.3% | ||
| Q2 24 | 22.2% | 0.6% | ||
| Q1 24 | 45.0% | -10.1% |
资本支出强度FTNTIHRT
| Q4 25 | 2.2% | 1.7% | ||
| Q3 25 | 5.1% | 2.3% | ||
| Q2 25 | 10.3% | 2.1% | ||
| Q1 25 | 4.3% | 2.4% | ||
| Q4 24 | 5.9% | 2.3% | ||
| Q3 24 | 2.4% | 2.9% | ||
| Q2 24 | 1.6% | 2.3% | ||
| Q1 24 | 16.4% | 2.7% |
现金转化率FTNTIHRT
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.38× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 1.99× | — | ||
| Q4 24 | 0.91× | 0.04× | ||
| Q3 24 | 1.13× | — | ||
| Q2 24 | 0.90× | — | ||
| Q1 24 | 2.77× | — |
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
FTNT
| Services | $1.2B | 64% |
| Security Subscription | $693.7M | 36% |
IHRT
| Broadcast Radio | $469.9M | 42% |
| Digital Non Podcast | $212.9M | 19% |
| Tradeand Barter Transactions | $124.4M | 11% |
| Networks | $118.2M | 10% |
| Audio And Media Services Group Segment | $78.9M | 7% |
| Sponsorship And Events | $71.4M | 6% |
| Advertising Trade And Barter Transactions | $23.7M | 2% |
| Other | $22.7M | 2% |
