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飞塔（FTNT）与IMMERSION CORP（IMMR）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IMMERSION CORP的5.1倍（$1.9B vs $372.9M）。飞塔净利率更高（26.6% vs -4.6%，领先31.1%）。IMMERSION CORP同比增速更快（750.4% vs 14.8%）。过去两年IMMERSION CORP的营收复合增速更高（416.0% 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。
Immersion Corporation总部位于佛罗里达州阿文图拉，主要研发并授权触觉反馈技术（即触感技术）。公司由路易斯·罗森伯格于1993年创立，目前由律师弗朗西斯·何塞掌管，他同时担任首席执行官与总法律顾问一职。
FTNT vs IMMR — 直观对比
营收规模更大
FTNT
是对方的5.1倍
$372.9M
营收增速更快
IMMR
高出735.7%
14.8%
净利率更高
FTNT
高出31.1%
-4.6%
两年增速更快
IMMR
近两年复合增速
18.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $372.9M |
| 净利润 | $506.0M | $-17.0M |
| 毛利率 | 79.6% | — |
| 营业利润率 | 32.8% | -2.8% |
| 净利率 | 26.6% | -4.6% |
| 营收同比 | 14.8% | 750.4% |
| 净利润同比 | -3.8% | -191.3% |
| 每股收益（稀释后） | $0.67 | $-0.57 |
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FTNTIMMR
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.6B | $372.9M | ||
| Q1 25 | $1.5B | $471.3M | ||
| Q4 24 | $1.7B | $616.2M | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.4B | $95.5M | ||
| Q1 24 | $1.4B | — |
净利润FTNTIMMR
| Q4 25 | $506.0M | — | ||
| Q3 25 | $473.9M | — | ||
| Q2 25 | $440.1M | $-17.0M | ||
| Q1 25 | $433.4M | $24.1M | ||
| Q4 24 | $526.2M | $30.8M | ||
| Q3 24 | $539.9M | — | ||
| Q2 24 | $379.8M | $26.4M | ||
| Q1 24 | $299.3M | — |
毛利率FTNTIMMR
| 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FTNTIMMR
| Q4 25 | 32.8% | — | ||
| Q3 25 | 31.7% | — | ||
| Q2 25 | 28.1% | -2.8% | ||
| Q1 25 | 29.5% | 7.5% | ||
| Q4 24 | 34.6% | 11.4% | ||
| Q3 24 | 31.2% | — | ||
| Q2 24 | 30.5% | 23.7% | ||
| Q1 24 | 23.7% | — |
净利率FTNTIMMR
| Q4 25 | 26.6% | — | ||
| Q3 25 | 27.5% | — | ||
| Q2 25 | 27.0% | -4.6% | ||
| Q1 25 | 28.1% | 5.1% | ||
| Q4 24 | 31.7% | 5.0% | ||
| Q3 24 | 35.8% | — | ||
| Q2 24 | 26.5% | 27.7% | ||
| Q1 24 | 22.1% | — |
每股收益（稀释后）FTNTIMMR
| Q4 25 | $0.67 | — | ||
| Q3 25 | $0.62 | — | ||
| Q2 25 | $0.57 | $-0.57 | ||
| Q1 25 | $0.56 | $0.73 | ||
| Q4 24 | $0.68 | $0.93 | ||
| Q3 24 | $0.70 | — | ||
| Q2 24 | $0.49 | $0.81 | ||
| Q1 24 | $0.39 | — |
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 | $161.4M |
| 总债务越低越好 | — | $103.1M |
| 股东权益账面价值 | $1.2B | $298.1M |
| 总资产 | $10.4B | $1.1B |
| 负债/权益比越低杠杆越低 | — | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资FTNTIMMR
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $3.4B | $161.4M | ||
| Q1 25 | $3.6B | $153.9M | ||
| Q4 24 | $2.9B | $159.3M | ||
| Q3 24 | $2.5B | — | ||
| Q2 24 | $2.2B | $133.4M | ||
| Q1 24 | $1.9B | — |
总债务FTNTIMMR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $103.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益FTNTIMMR
| Q4 25 | $1.2B | — | ||
| Q3 25 | $735.1M | — | ||
| Q2 25 | $2.1B | $298.1M | ||
| Q1 25 | $2.0B | $317.9M | ||
| Q4 24 | $1.5B | $305.5M | ||
| Q3 24 | $908.1M | — | ||
| Q2 24 | $288.2M | $273.4M | ||
| Q1 24 | $-137.5M | — |
总资产FTNTIMMR
| Q4 25 | $10.4B | — | ||
| Q3 25 | $9.4B | — | ||
| Q2 25 | $10.6B | $1.1B | ||
| Q1 25 | $10.4B | $1.4B | ||
| Q4 24 | $9.8B | $1.4B | ||
| Q3 24 | $8.9B | — | ||
| Q2 24 | $8.1B | $1.2B | ||
| Q1 24 | $7.7B | — |
负债/权益比FTNTIMMR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $577.4M | — |
| 自由现金流率自由现金流/营收 | 30.3% | — |
| 资本支出强度资本支出/营收 | 2.2% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流FTNTIMMR
| Q4 25 | $620.2M | — | ||
| Q3 25 | $655.2M | — | ||
| Q2 25 | $451.9M | — | ||
| Q1 25 | $863.3M | $-43.7M | ||
| Q4 24 | $477.6M | — | ||
| Q3 24 | $608.1M | — | ||
| Q2 24 | $342.0M | $-85.9M | ||
| Q1 24 | $830.4M | — |
自由现金流FTNTIMMR
| Q4 25 | $577.4M | — | ||
| Q3 25 | $567.5M | — | ||
| Q2 25 | $284.1M | — | ||
| Q1 25 | $796.8M | $-46.2M | ||
| Q4 24 | $380.0M | — | ||
| Q3 24 | $571.8M | — | ||
| Q2 24 | $318.9M | — | ||
| Q1 24 | $608.5M | — |
自由现金流率FTNTIMMR
| Q4 25 | 30.3% | — | ||
| Q3 25 | 32.9% | — | ||
| Q2 25 | 17.4% | — | ||
| Q1 25 | 51.8% | -9.8% | ||
| Q4 24 | 22.9% | — | ||
| Q3 24 | 37.9% | — | ||
| Q2 24 | 22.2% | — | ||
| Q1 24 | 45.0% | — |
资本支出强度FTNTIMMR
| Q4 25 | 2.2% | — | ||
| Q3 25 | 5.1% | — | ||
| Q2 25 | 10.3% | — | ||
| Q1 25 | 4.3% | 0.5% | ||
| Q4 24 | 5.9% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 1.6% | — | ||
| Q1 24 | 16.4% | — |
现金转化率FTNTIMMR
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.38× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 1.99× | -1.82× | ||
| Q4 24 | 0.91× | — | ||
| Q3 24 | 1.13× | — | ||
| Q2 24 | 0.90× | -3.25× | ||
| 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% |
IMMR
| Course Material Sale | $150.9M | 40% |
| General Merchandise Sale | $138.0M | 37% |
| Rental Services | $51.8M | 14% |
| Services And Other Revenue | $25.6M | 7% |
| Per Unit Royalties | $1.8M | 0% |
