vs
飞塔（FTNT）与罗致恒富（RHI）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罗致恒富的1.5倍（$1.9B vs $1.3B），飞塔同比增速更快（14.8% vs -5.8%），飞塔自由现金流更多（$577.4M vs $170.8M），过去两年飞塔的营收复合增速更高（18.6% vs -6.1%）
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。
罗致恒富是1948年成立的国际人力资源咨询机构，总部位于加利福尼亚州门洛帕克和圣拉蒙，是全球规模领先的会计与金融领域人才派遣服务商之一，在全球范围内设有超过345个办公点。
FTNT vs RHI — 直观对比
营收规模更大
FTNT
是对方的1.5倍
$1.3B
营收增速更快
FTNT
高出20.5%
-5.8%
自由现金流更多
FTNT
多$406.6M
$170.8M
两年增速更快
FTNT
近两年复合增速
-6.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.3B |
| 净利润 | $506.0M | — |
| 毛利率 | 79.6% | 37.6% |
| 营业利润率 | 32.8% | 1.7% |
| 净利率 | 26.6% | — |
| 营收同比 | 14.8% | -5.8% |
| 净利润同比 | -3.8% | — |
| 每股收益（稀释后） | $0.67 | $0.32 |
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FTNTRHI
| Q4 25 | $1.9B | $1.3B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $1.6B | $1.4B | ||
| Q1 25 | $1.5B | $1.4B | ||
| Q4 24 | $1.7B | $1.4B | ||
| Q3 24 | $1.5B | $1.5B | ||
| Q2 24 | $1.4B | $1.5B | ||
| Q1 24 | $1.4B | $1.5B |
净利润FTNTRHI
| Q4 25 | $506.0M | — | ||
| Q3 25 | $473.9M | $42.9M | ||
| Q2 25 | $440.1M | $41.0M | ||
| Q1 25 | $433.4M | $17.4M | ||
| Q4 24 | $526.2M | — | ||
| Q3 24 | $539.9M | $65.5M | ||
| Q2 24 | $379.8M | $68.2M | ||
| Q1 24 | $299.3M | $63.7M |
毛利率FTNTRHI
| Q4 25 | 79.6% | 37.6% | ||
| Q3 25 | 80.8% | 37.2% | ||
| Q2 25 | 80.7% | 37.2% | ||
| Q1 25 | 81.0% | 36.9% | ||
| Q4 24 | 81.1% | 38.8% | ||
| Q3 24 | 82.5% | 39.0% | ||
| Q2 24 | 80.8% | 39.2% | ||
| Q1 24 | 77.5% | 38.1% |
营业利润率FTNTRHI
| Q4 25 | 32.8% | 1.7% | ||
| Q3 25 | 31.7% | 1.0% | ||
| Q2 25 | 28.1% | 0.1% | ||
| Q1 25 | 29.5% | 2.9% | ||
| Q4 24 | 34.6% | 4.7% | ||
| Q3 24 | 31.2% | 4.1% | ||
| Q2 24 | 30.5% | 5.1% | ||
| Q1 24 | 23.7% | 2.8% |
净利率FTNTRHI
| Q4 25 | 26.6% | — | ||
| Q3 25 | 27.5% | 3.2% | ||
| Q2 25 | 27.0% | 3.0% | ||
| Q1 25 | 28.1% | 1.3% | ||
| Q4 24 | 31.7% | — | ||
| Q3 24 | 35.8% | 4.5% | ||
| Q2 24 | 26.5% | 4.6% | ||
| Q1 24 | 22.1% | 4.3% |
每股收益（稀释后）FTNTRHI
| Q4 25 | $0.67 | $0.32 | ||
| Q3 25 | $0.62 | $0.43 | ||
| Q2 25 | $0.57 | $0.41 | ||
| Q1 25 | $0.56 | $0.17 | ||
| Q4 24 | $0.68 | $0.53 | ||
| Q3 24 | $0.70 | $0.64 | ||
| Q2 24 | $0.49 | $0.66 | ||
| Q1 24 | $0.39 | $0.61 |
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 | $464.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.2B | $1.3B |
| 总资产 | $10.4B | $2.9B |
| 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FTNTRHI
| Q4 25 | $2.5B | $464.4M | ||
| Q3 25 | $2.0B | $365.3M | ||
| Q2 25 | $3.4B | $380.5M | ||
| Q1 25 | $3.6B | $342.5M | ||
| Q4 24 | $2.9B | $537.6M | ||
| Q3 24 | $2.5B | $570.5M | ||
| Q2 24 | $2.2B | $547.4M | ||
| Q1 24 | $1.9B | $540.9M |
股东权益FTNTRHI
| Q4 25 | $1.2B | $1.3B | ||
| Q3 25 | $735.1M | $1.3B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $2.0B | $1.3B | ||
| Q4 24 | $1.5B | $1.4B | ||
| Q3 24 | $908.1M | $1.5B | ||
| Q2 24 | $288.2M | $1.5B | ||
| Q1 24 | $-137.5M | $1.5B |
总资产FTNTRHI
| Q4 25 | $10.4B | $2.9B | ||
| Q3 25 | $9.4B | $2.8B | ||
| Q2 25 | $10.6B | $2.8B | ||
| Q1 25 | $10.4B | $2.7B | ||
| Q4 24 | $9.8B | $2.9B | ||
| Q3 24 | $8.9B | $3.0B | ||
| Q2 24 | $8.1B | $2.9B | ||
| Q1 24 | $7.7B | $2.9B |
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 | $182.5M |
| 自由现金流经营现金流 - 资本支出 | $577.4M | $170.8M |
| 自由现金流率自由现金流/营收 | 30.3% | 13.1% |
| 资本支出强度资本支出/营收 | 2.2% | 0.9% |
| 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 | $266.8M |
8季度趋势，按日历期对齐
经营现金流FTNTRHI
| Q4 25 | $620.2M | $182.5M | ||
| Q3 25 | $655.2M | $77.4M | ||
| Q2 25 | $451.9M | $119.4M | ||
| Q1 25 | $863.3M | $-59.3M | ||
| Q4 24 | $477.6M | $154.8M | ||
| Q3 24 | $608.1M | $129.6M | ||
| Q2 24 | $342.0M | $142.0M | ||
| Q1 24 | $830.4M | $-15.9M |
自由现金流FTNTRHI
| Q4 25 | $577.4M | $170.8M | ||
| Q3 25 | $567.5M | $63.6M | ||
| Q2 25 | $284.1M | $104.2M | ||
| Q1 25 | $796.8M | $-71.7M | ||
| Q4 24 | $380.0M | $140.5M | ||
| Q3 24 | $571.8M | $111.8M | ||
| Q2 24 | $318.9M | $129.6M | ||
| Q1 24 | $608.5M | $-27.7M |
自由现金流率FTNTRHI
| Q4 25 | 30.3% | 13.1% | ||
| Q3 25 | 32.9% | 4.7% | ||
| Q2 25 | 17.4% | 7.6% | ||
| Q1 25 | 51.8% | -5.3% | ||
| Q4 24 | 22.9% | 10.2% | ||
| Q3 24 | 37.9% | 7.6% | ||
| Q2 24 | 22.2% | 8.8% | ||
| Q1 24 | 45.0% | -1.9% |
资本支出强度FTNTRHI
| Q4 25 | 2.2% | 0.9% | ||
| Q3 25 | 5.1% | 1.0% | ||
| Q2 25 | 10.3% | 1.1% | ||
| Q1 25 | 4.3% | 0.9% | ||
| Q4 24 | 5.9% | 1.0% | ||
| Q3 24 | 2.4% | 1.2% | ||
| Q2 24 | 1.6% | 0.8% | ||
| Q1 24 | 16.4% | 0.8% |
现金转化率FTNTRHI
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.38× | 1.80× | ||
| Q2 25 | 1.03× | 2.91× | ||
| Q1 25 | 1.99× | -3.42× | ||
| Q4 24 | 0.91× | — | ||
| Q3 24 | 1.13× | 1.98× | ||
| Q2 24 | 0.90× | 2.08× | ||
| Q1 24 | 2.77× | -0.25× |
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% |
RHI
| Finance And Accounting | $535.2M | 41% |
| Protiviti | $479.0M | 37% |
| Technology | $156.4M | 12% |
| Permanent Placement Talent Solutions | $102.6M | 8% |
| Other | $29.2M | 2% |
