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飞塔（FTNT）与Liberty Global Ltd.（LBTYA）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Liberty Global Ltd.的1.5倍（$1.9B vs $1.2B），飞塔净利率更高（26.6% vs -237.0%，领先263.5%），Liberty Global Ltd.同比增速更快（187.2% vs 14.8%），飞塔自由现金流更多（$577.4M vs $193.3M），过去两年飞塔的营收复合增速更高（18.6% vs -20.4%）
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。
自由全球有限公司是一家英荷美合资的跨国电信企业，注册地位于百慕大，在伦敦、阿姆斯特丹和丹佛均设有总部。公司旗下拥有英国自由全球控股有限公司、荷兰自由全球有限公司及美国自由全球公司三大主体，其中英国主体为上市实体。企业由自由媒体国际业务部与UnitedGlobalCom于2005年合并成立，在全球电信服务领域拥有深厚的行业积累。
FTNT vs LBTYA — 直观对比
营收规模更大
FTNT
是对方的1.5倍
$1.2B
营收增速更快
LBTYA
高出172.4%
14.8%
净利率更高
FTNT
高出263.5%
-237.0%
自由现金流更多
FTNT
多$384.1M
$193.3M
两年增速更快
FTNT
近两年复合增速
-20.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.2B |
| 净利润 | $506.0M | $-2.9B |
| 毛利率 | 79.6% | 66.8% |
| 营业利润率 | 32.8% | -8.6% |
| 净利率 | 26.6% | -237.0% |
| 营收同比 | 14.8% | 187.2% |
| 净利润同比 | -3.8% | -230.0% |
| 每股收益（稀释后） | $0.67 | $-8.66 |
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FTNTLBTYA
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.6B | $1.3B | ||
| Q1 25 | $1.5B | $1.2B | ||
| Q4 24 | $1.7B | $-1.4B | ||
| Q3 24 | $1.5B | $1.9B | ||
| Q2 24 | $1.4B | $1.9B | ||
| Q1 24 | $1.4B | $1.9B |
净利润FTNTLBTYA
| Q4 25 | $506.0M | $-2.9B | ||
| Q3 25 | $473.9M | $-90.7M | ||
| Q2 25 | $440.1M | $-2.8B | ||
| Q1 25 | $433.4M | $-1.3B | ||
| Q4 24 | $526.2M | $2.2B | ||
| Q3 24 | $539.9M | $-1.4B | ||
| Q2 24 | $379.8M | $268.1M | ||
| Q1 24 | $299.3M | $510.0M |
毛利率FTNTLBTYA
| Q4 25 | 79.6% | 66.8% | ||
| Q3 25 | 80.8% | 67.5% | ||
| Q2 25 | 80.7% | 63.3% | ||
| Q1 25 | 81.0% | 65.6% | ||
| Q4 24 | 81.1% | — | ||
| Q3 24 | 82.5% | 69.4% | ||
| Q2 24 | 80.8% | 68.5% | ||
| Q1 24 | 77.5% | 65.4% |
营业利润率FTNTLBTYA
| Q4 25 | 32.8% | -8.6% | ||
| Q3 25 | 31.7% | -0.7% | ||
| Q2 25 | 28.1% | 2.3% | ||
| Q1 25 | 29.5% | 5.2% | ||
| Q4 24 | 34.6% | — | ||
| Q3 24 | 31.2% | 5.2% | ||
| Q2 24 | 30.5% | 1.0% | ||
| Q1 24 | 23.7% | 1.2% |
净利率FTNTLBTYA
| Q4 25 | 26.6% | -237.0% | ||
| Q3 25 | 27.5% | -7.5% | ||
| Q2 25 | 27.0% | -220.1% | ||
| Q1 25 | 28.1% | -114.2% | ||
| Q4 24 | 31.7% | -158.9% | ||
| Q3 24 | 35.8% | -74.1% | ||
| Q2 24 | 26.5% | 14.3% | ||
| Q1 24 | 22.1% | 26.2% |
每股收益（稀释后）FTNTLBTYA
| Q4 25 | $0.67 | $-8.66 | ||
| Q3 25 | $0.62 | $-0.27 | ||
| Q2 25 | $0.57 | $-8.09 | ||
| Q1 25 | $0.56 | $-3.84 | ||
| Q4 24 | $0.68 | $6.15 | ||
| Q3 24 | $0.70 | $-3.95 | ||
| Q2 24 | $0.49 | $0.71 | ||
| Q1 24 | $0.39 | $1.32 |
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 | $2.2B |
| 总债务越低越好 | — | $7.8B |
| 股东权益账面价值 | $1.2B | $9.7B |
| 总资产 | $10.4B | $22.6B |
| 负债/权益比越低杠杆越低 | — | 0.80× |
8季度趋势，按日历期对齐
现金及短期投资FTNTLBTYA
| Q4 25 | $2.5B | $2.2B | ||
| Q3 25 | $2.0B | $1.7B | ||
| Q2 25 | $3.4B | $3.1B | ||
| Q1 25 | $3.6B | $2.0B | ||
| Q4 24 | $2.9B | $2.2B | ||
| Q3 24 | $2.5B | $3.3B | ||
| Q2 24 | $2.2B | $3.2B | ||
| Q1 24 | $1.9B | $2.8B |
总债务FTNTLBTYA
| Q4 25 | — | $7.8B | ||
| Q3 25 | — | $7.8B | ||
| Q2 25 | — | $7.8B | ||
| Q1 25 | — | $8.2B | ||
| Q4 24 | — | $8.2B | ||
| Q3 24 | — | $14.9B | ||
| Q2 24 | — | $14.7B | ||
| Q1 24 | — | $14.8B |
股东权益FTNTLBTYA
| Q4 25 | $1.2B | $9.7B | ||
| Q3 25 | $735.1M | $12.7B | ||
| Q2 25 | $2.1B | $13.0B | ||
| Q1 25 | $2.0B | $12.6B | ||
| Q4 24 | $1.5B | $12.4B | ||
| Q3 24 | $908.1M | $18.7B | ||
| Q2 24 | $288.2M | $18.3B | ||
| Q1 24 | $-137.5M | $18.4B |
总资产FTNTLBTYA
| Q4 25 | $10.4B | $22.6B | ||
| Q3 25 | $9.4B | $25.4B | ||
| Q2 25 | $10.6B | $27.2B | ||
| Q1 25 | $10.4B | $26.0B | ||
| Q4 24 | $9.8B | $25.4B | ||
| Q3 24 | $8.9B | $41.8B | ||
| Q2 24 | $8.1B | $40.8B | ||
| Q1 24 | $7.7B | $40.6B |
负债/权益比FTNTLBTYA
| Q4 25 | — | 0.80× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | — | 0.80× | ||
| Q2 24 | — | 0.80× | ||
| Q1 24 | — | 0.80× |
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 | $630.9M |
| 自由现金流经营现金流 - 资本支出 | $577.4M | $193.3M |
| 自由现金流率自由现金流/营收 | 30.3% | 15.7% |
| 资本支出强度资本支出/营收 | 2.2% | 35.5% |
| 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 | $-132.0M |
8季度趋势，按日历期对齐
经营现金流FTNTLBTYA
| Q4 25 | $620.2M | $630.9M | ||
| Q3 25 | $655.2M | $301.8M | ||
| Q2 25 | $451.9M | $149.2M | ||
| Q1 25 | $863.3M | $129.2M | ||
| Q4 24 | $477.6M | $791.6M | ||
| Q3 24 | $608.1M | $449.5M | ||
| Q2 24 | $342.0M | $546.1M | ||
| Q1 24 | $830.4M | $245.7M |
自由现金流FTNTLBTYA
| Q4 25 | $577.4M | $193.3M | ||
| Q3 25 | $567.5M | $-41.1M | ||
| Q2 25 | $284.1M | $-170.1M | ||
| Q1 25 | $796.8M | $-114.1M | ||
| Q4 24 | $380.0M | $712.9M | ||
| Q3 24 | $571.8M | $102.4M | ||
| Q2 24 | $318.9M | $256.8M | ||
| Q1 24 | $608.5M | $-105.1M |
自由现金流率FTNTLBTYA
| Q4 25 | 30.3% | 15.7% | ||
| Q3 25 | 32.9% | -3.4% | ||
| Q2 25 | 17.4% | -13.4% | ||
| Q1 25 | 51.8% | -9.7% | ||
| Q4 24 | 22.9% | -50.5% | ||
| Q3 24 | 37.9% | 5.3% | ||
| Q2 24 | 22.2% | 13.7% | ||
| Q1 24 | 45.0% | -5.4% |
资本支出强度FTNTLBTYA
| Q4 25 | 2.2% | 35.5% | ||
| Q3 25 | 5.1% | 28.4% | ||
| Q2 25 | 10.3% | 25.2% | ||
| Q1 25 | 4.3% | 20.8% | ||
| Q4 24 | 5.9% | -5.6% | ||
| Q3 24 | 2.4% | 17.9% | ||
| Q2 24 | 1.6% | 15.4% | ||
| Q1 24 | 16.4% | 18.0% |
现金转化率FTNTLBTYA
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.38× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 1.99× | — | ||
| Q4 24 | 0.91× | 0.35× | ||
| Q3 24 | 1.13× | — | ||
| Q2 24 | 0.90× | 2.04× | ||
| Q1 24 | 2.77× | 0.48× |
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% |
LBTYA
暂无分部数据
