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飞塔（FTNT）与史丹利百得（SWK）财务数据对比。点击上方公司名可切换其他公司
史丹利百得的季度营收约是飞塔的2.0倍（$3.8B vs $1.9B），飞塔净利率更高（26.6% vs 1.4%，领先25.2%），飞塔同比增速更快（14.8% vs 0.1%），飞塔自由现金流更多（$577.4M vs $155.3M），过去两年飞塔的营收复合增速更高（18.6% vs 0.3%）
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。
史丹利百得是美国知名的工业工具、家用五金产品制造商，同时提供安防类产品，前身为史丹利工具有限公司，由史丹利与百得于2010年3月12日合并而来，总部位于康涅狄格州大哈特福德地区的新不列颠市。
FTNT vs SWK — 直观对比
营收规模更大
SWK
是对方的2.0倍
$1.9B
营收增速更快
FTNT
高出14.6%
0.1%
净利率更高
FTNT
高出25.2%
1.4%
自由现金流更多
FTNT
多$422.1M
$155.3M
两年增速更快
FTNT
近两年复合增速
0.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $3.8B |
| 净利润 | $506.0M | $51.4M |
| 毛利率 | 79.6% | 31.4% |
| 营业利润率 | 32.8% | — |
| 净利率 | 26.6% | 1.4% |
| 营收同比 | 14.8% | 0.1% |
| 净利润同比 | -3.8% | -43.6% |
| 每股收益（稀释后） | $0.67 | $0.34 |
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FTNTSWK
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.7B | $3.8B | ||
| Q2 25 | $1.6B | $3.9B | ||
| Q1 25 | $1.5B | $3.7B | ||
| Q4 24 | $1.7B | $3.7B | ||
| Q3 24 | $1.5B | $3.8B | ||
| Q2 24 | $1.4B | $4.0B | ||
| Q1 24 | $1.4B | $3.9B |
净利润FTNTSWK
| Q4 25 | $506.0M | — | ||
| Q3 25 | $473.9M | $51.4M | ||
| Q2 25 | $440.1M | $101.9M | ||
| Q1 25 | $433.4M | $90.4M | ||
| Q4 24 | $526.2M | $194.9M | ||
| Q3 24 | $539.9M | $91.1M | ||
| Q2 24 | $379.8M | $-11.2M | ||
| Q1 24 | $299.3M | $19.5M |
毛利率FTNTSWK
| Q4 25 | 79.6% | — | ||
| Q3 25 | 80.8% | 31.4% | ||
| Q2 25 | 80.7% | 27.0% | ||
| Q1 25 | 81.0% | 29.9% | ||
| Q4 24 | 81.1% | 30.8% | ||
| Q3 24 | 82.5% | 29.9% | ||
| Q2 24 | 80.8% | 28.4% | ||
| Q1 24 | 77.5% | 28.6% |
营业利润率FTNTSWK
| Q4 25 | 32.8% | — | ||
| Q3 25 | 31.7% | — | ||
| Q2 25 | 28.1% | — | ||
| Q1 25 | 29.5% | — | ||
| Q4 24 | 34.6% | 3.4% | ||
| Q3 24 | 31.2% | 10.6% | ||
| Q2 24 | 30.5% | 9.5% | ||
| Q1 24 | 23.7% | 8.3% |
净利率FTNTSWK
| Q4 25 | 26.6% | — | ||
| Q3 25 | 27.5% | 1.4% | ||
| Q2 25 | 27.0% | 2.6% | ||
| Q1 25 | 28.1% | 2.4% | ||
| Q4 24 | 31.7% | 5.2% | ||
| Q3 24 | 35.8% | 2.4% | ||
| Q2 24 | 26.5% | -0.3% | ||
| Q1 24 | 22.1% | 0.5% |
每股收益（稀释后）FTNTSWK
| Q4 25 | $0.67 | — | ||
| Q3 25 | $0.62 | $0.34 | ||
| Q2 25 | $0.57 | $0.67 | ||
| Q1 25 | $0.56 | $0.60 | ||
| Q4 24 | $0.68 | $1.29 | ||
| Q3 24 | $0.70 | $0.60 | ||
| Q2 24 | $0.49 | $-0.07 | ||
| Q1 24 | $0.39 | $0.13 |
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 | $268.3M |
| 总债务越低越好 | — | $5.3B |
| 股东权益账面价值 | $1.2B | $9.0B |
| 总资产 | $10.4B | $21.8B |
| 负债/权益比越低杠杆越低 | — | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资FTNTSWK
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.0B | $268.3M | ||
| Q2 25 | $3.4B | $311.8M | ||
| Q1 25 | $3.6B | $344.8M | ||
| Q4 24 | $2.9B | $290.5M | ||
| Q3 24 | $2.5B | $298.7M | ||
| Q2 24 | $2.2B | $318.5M | ||
| Q1 24 | $1.9B | $476.6M |
总债务FTNTSWK
| Q4 25 | — | — | ||
| Q3 25 | — | $5.3B | ||
| Q2 25 | — | $5.6B | ||
| Q1 25 | — | $5.6B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | — | $6.1B |
股东权益FTNTSWK
| Q4 25 | $1.2B | — | ||
| Q3 25 | $735.1M | $9.0B | ||
| Q2 25 | $2.1B | $9.1B | ||
| Q1 25 | $2.0B | $8.8B | ||
| Q4 24 | $1.5B | $8.7B | ||
| Q3 24 | $908.1M | $8.9B | ||
| Q2 24 | $288.2M | $8.7B | ||
| Q1 24 | $-137.5M | $8.9B |
总资产FTNTSWK
| Q4 25 | $10.4B | — | ||
| Q3 25 | $9.4B | $21.8B | ||
| Q2 25 | $10.6B | $22.5B | ||
| Q1 25 | $10.4B | $22.5B | ||
| Q4 24 | $9.8B | $21.8B | ||
| Q3 24 | $8.9B | $22.5B | ||
| Q2 24 | $8.1B | $22.5B | ||
| Q1 24 | $7.7B | $23.9B |
负债/权益比FTNTSWK
| Q4 25 | — | — | ||
| Q3 25 | — | 0.59× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.63× | ||
| Q4 24 | — | 0.70× | ||
| Q3 24 | — | 0.69× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.69× |
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 | $221.2M |
| 自由现金流经营现金流 - 资本支出 | $577.4M | $155.3M |
| 自由现金流率自由现金流/营收 | 30.3% | 4.1% |
| 资本支出强度资本支出/营收 | 2.2% | 1.8% |
| 现金转化率经营现金流/净利润 | 1.23× | 4.30× |
| 过去12个月自由现金流最近4个季度 | $2.2B | $369.6M |
8季度趋势，按日历期对齐
经营现金流FTNTSWK
| Q4 25 | $620.2M | — | ||
| Q3 25 | $655.2M | $221.2M | ||
| Q2 25 | $451.9M | $214.3M | ||
| Q1 25 | $863.3M | $-420.0M | ||
| Q4 24 | $477.6M | $679.1M | ||
| Q3 24 | $608.1M | $285.8M | ||
| Q2 24 | $342.0M | $573.0M | ||
| Q1 24 | $830.4M | $-431.0M |
自由现金流FTNTSWK
| Q4 25 | $577.4M | — | ||
| Q3 25 | $567.5M | $155.3M | ||
| Q2 25 | $284.1M | $134.7M | ||
| Q1 25 | $796.8M | $-485.0M | ||
| Q4 24 | $380.0M | $564.6M | ||
| Q3 24 | $571.8M | $199.3M | ||
| Q2 24 | $318.9M | $485.8M | ||
| Q1 24 | $608.5M | $-496.7M |
自由现金流率FTNTSWK
| Q4 25 | 30.3% | — | ||
| Q3 25 | 32.9% | 4.1% | ||
| Q2 25 | 17.4% | 3.4% | ||
| Q1 25 | 51.8% | -13.0% | ||
| Q4 24 | 22.9% | 15.2% | ||
| Q3 24 | 37.9% | 5.3% | ||
| Q2 24 | 22.2% | 12.1% | ||
| Q1 24 | 45.0% | -12.8% |
资本支出强度FTNTSWK
| Q4 25 | 2.2% | — | ||
| Q3 25 | 5.1% | 1.8% | ||
| Q2 25 | 10.3% | 2.0% | ||
| Q1 25 | 4.3% | 1.7% | ||
| Q4 24 | 5.9% | 3.1% | ||
| Q3 24 | 2.4% | 2.3% | ||
| Q2 24 | 1.6% | 2.2% | ||
| Q1 24 | 16.4% | 1.7% |
现金转化率FTNTSWK
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.38× | 4.30× | ||
| Q2 25 | 1.03× | 2.10× | ||
| Q1 25 | 1.99× | -4.65× | ||
| Q4 24 | 0.91× | 3.48× | ||
| Q3 24 | 1.13× | 3.14× | ||
| Q2 24 | 0.90× | — | ||
| Q1 24 | 2.77× | -22.10× |
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% |
SWK
| Tools And Outdoor Segment | $3.3B | 87% |
| Engineered Fastening Segment | $500.5M | 13% |
