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飞塔（FTNT）与罗克韦尔自动化（ROK）财务数据对比。点击上方公司名可切换其他公司
罗克韦尔自动化的季度营收约是飞塔的1.1倍（$2.1B vs $1.9B），飞塔净利率更高（26.6% vs 14.5%，领先12.1%），飞塔同比增速更快（14.8% vs 11.9%），飞塔自由现金流更多（$577.4M vs $170.0M），过去两年飞塔的营收复合增速更高（18.6% vs -0.5%）
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。
罗克韦尔自动化是总部位于美国威斯康星州密尔沃基的工业自动化及数字化转型技术提供商，旗下拥有Allen-Bradley、FactoryTalk软件、LifecycleIQ服务等核心品牌，全球员工约2.7万人，服务覆盖100多个国家和地区的客户。
FTNT vs ROK — 直观对比
营收规模更大
ROK
是对方的1.1倍
$1.9B
营收增速更快
FTNT
高出2.8%
11.9%
净利率更高
FTNT
高出12.1%
14.5%
自由现金流更多
FTNT
多$407.4M
$170.0M
两年增速更快
FTNT
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.1B |
| 净利润 | $506.0M | $305.0M |
| 毛利率 | 79.6% | 48.3% |
| 营业利润率 | 32.8% | 20.7% |
| 净利率 | 26.6% | 14.5% |
| 营收同比 | 14.8% | 11.9% |
| 净利润同比 | -3.8% | 65.8% |
| 每股收益（稀释后） | $0.67 | $2.69 |
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FTNTROK
| Q4 25 | $1.9B | $2.1B | ||
| Q3 25 | $1.7B | $2.3B | ||
| Q2 25 | $1.6B | $2.1B | ||
| Q1 25 | $1.5B | $2.0B | ||
| Q4 24 | $1.7B | $1.9B | ||
| Q3 24 | $1.5B | $2.0B | ||
| Q2 24 | $1.4B | $2.1B | ||
| Q1 24 | $1.4B | $2.1B |
净利润FTNTROK
| Q4 25 | $506.0M | $305.0M | ||
| Q3 25 | $473.9M | $138.0M | ||
| Q2 25 | $440.1M | $295.0M | ||
| Q1 25 | $433.4M | $252.0M | ||
| Q4 24 | $526.2M | $184.0M | ||
| Q3 24 | $539.9M | $239.1M | ||
| Q2 24 | $379.8M | $232.0M | ||
| Q1 24 | $299.3M | $266.2M |
毛利率FTNTROK
| Q4 25 | 79.6% | 48.3% | ||
| Q3 25 | 80.8% | 69.4% | ||
| Q2 25 | 80.7% | 40.9% | ||
| Q1 25 | 81.0% | 40.5% | ||
| Q4 24 | 81.1% | 38.4% | ||
| Q3 24 | 82.5% | 37.9% | ||
| Q2 24 | 80.8% | 38.8% | ||
| Q1 24 | 77.5% | 39.2% |
营业利润率FTNTROK
| Q4 25 | 32.8% | 20.7% | ||
| Q3 25 | 31.7% | 2.7% | ||
| Q2 25 | 28.1% | 16.0% | ||
| Q1 25 | 29.5% | 14.9% | ||
| Q4 24 | 34.6% | 17.1% | ||
| Q3 24 | 31.2% | 13.5% | ||
| Q2 24 | 30.5% | 12.4% | ||
| Q1 24 | 23.7% | 14.6% |
净利率FTNTROK
| Q4 25 | 26.6% | 14.5% | ||
| Q3 25 | 27.5% | 6.0% | ||
| Q2 25 | 27.0% | 13.8% | ||
| Q1 25 | 28.1% | 12.6% | ||
| Q4 24 | 31.7% | 9.8% | ||
| Q3 24 | 35.8% | 11.7% | ||
| Q2 24 | 26.5% | 11.3% | ||
| Q1 24 | 22.1% | 12.5% |
每股收益（稀释后）FTNTROK
| Q4 25 | $0.67 | $2.69 | ||
| Q3 25 | $0.62 | $1.24 | ||
| Q2 25 | $0.57 | $2.60 | ||
| Q1 25 | $0.56 | $2.22 | ||
| Q4 24 | $0.68 | $1.61 | ||
| Q3 24 | $0.70 | $2.09 | ||
| Q2 24 | $0.49 | $2.02 | ||
| Q1 24 | $0.39 | $2.31 |
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 | $444.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.2B | $3.7B |
| 总资产 | $10.4B | $11.2B |
| 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FTNTROK
| Q4 25 | $2.5B | $444.0M | ||
| Q3 25 | $2.0B | $468.0M | ||
| Q2 25 | $3.4B | $495.0M | ||
| Q1 25 | $3.6B | $456.0M | ||
| Q4 24 | $2.9B | $477.0M | ||
| Q3 24 | $2.5B | $471.3M | ||
| Q2 24 | $2.2B | $407.0M | ||
| Q1 24 | $1.9B | $470.5M |
总债务FTNTROK
| Q4 25 | — | — | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益FTNTROK
| Q4 25 | $1.2B | $3.7B | ||
| Q3 25 | $735.1M | $3.7B | ||
| Q2 25 | $2.1B | $3.5B | ||
| Q1 25 | $2.0B | $3.4B | ||
| Q4 24 | $1.5B | $3.4B | ||
| Q3 24 | $908.1M | $3.5B | ||
| Q2 24 | $288.2M | $3.3B | ||
| Q1 24 | $-137.5M | $3.5B |
总资产FTNTROK
| Q4 25 | $10.4B | $11.2B | ||
| Q3 25 | $9.4B | $11.2B | ||
| Q2 25 | $10.6B | $11.2B | ||
| Q1 25 | $10.4B | $11.0B | ||
| Q4 24 | $9.8B | $10.9B | ||
| Q3 24 | $8.9B | $11.2B | ||
| Q2 24 | $8.1B | $11.2B | ||
| Q1 24 | $7.7B | $11.4B |
负债/权益比FTNTROK
| Q4 25 | — | — | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.73× | ||
| 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 | $234.0M |
| 自由现金流经营现金流 - 资本支出 | $577.4M | $170.0M |
| 自由现金流率自由现金流/营收 | 30.3% | 8.1% |
| 资本支出强度资本支出/营收 | 2.2% | 3.0% |
| 现金转化率经营现金流/净利润 | 1.23× | 0.77× |
| 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FTNTROK
| Q4 25 | $620.2M | $234.0M | ||
| Q3 25 | $655.2M | $454.0M | ||
| Q2 25 | $451.9M | $527.0M | ||
| Q1 25 | $863.3M | $199.0M | ||
| Q4 24 | $477.6M | $364.0M | ||
| Q3 24 | $608.1M | $432.3M | ||
| Q2 24 | $342.0M | $279.1M | ||
| Q1 24 | $830.4M | $119.8M |
自由现金流FTNTROK
| Q4 25 | $577.4M | $170.0M | ||
| Q3 25 | $567.5M | — | ||
| Q2 25 | $284.1M | $489.0M | ||
| Q1 25 | $796.8M | $171.0M | ||
| Q4 24 | $380.0M | $293.0M | ||
| Q3 24 | $571.8M | — | ||
| Q2 24 | $318.9M | $238.4M | ||
| Q1 24 | $608.5M | $68.6M |
自由现金流率FTNTROK
| Q4 25 | 30.3% | 8.1% | ||
| Q3 25 | 32.9% | — | ||
| Q2 25 | 17.4% | 22.8% | ||
| Q1 25 | 51.8% | 8.5% | ||
| Q4 24 | 22.9% | 15.6% | ||
| Q3 24 | 37.9% | — | ||
| Q2 24 | 22.2% | 11.6% | ||
| Q1 24 | 45.0% | 3.2% |
资本支出强度FTNTROK
| Q4 25 | 2.2% | 3.0% | ||
| Q3 25 | 5.1% | — | ||
| Q2 25 | 10.3% | 1.8% | ||
| Q1 25 | 4.3% | 1.4% | ||
| Q4 24 | 5.9% | 3.8% | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 1.6% | 2.0% | ||
| Q1 24 | 16.4% | 2.4% |
现金转化率FTNTROK
| Q4 25 | 1.23× | 0.77× | ||
| Q3 25 | 1.38× | 3.29× | ||
| Q2 25 | 1.03× | 1.79× | ||
| Q1 25 | 1.99× | 0.79× | ||
| Q4 24 | 0.91× | 1.98× | ||
| Q3 24 | 1.13× | 1.81× | ||
| Q2 24 | 0.90× | 1.20× | ||
| Q1 24 | 2.77× | 0.45× |
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% |
ROK
| Productsand Solutions | $1.9B | 89% |
| Lifecycle Services Segment | $259.0M | 12% |
