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飞塔（FTNT）与Tri Pointe Homes, Inc.（TPH）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Tri Pointe Homes, Inc.的2.0倍（$1.9B vs $972.6M），飞塔净利率更高（26.6% vs 6.2%，领先20.4%），飞塔同比增速更快（14.8% vs -22.4%），飞塔自由现金流更多（$577.4M vs $213.2M），过去两年飞塔的营收复合增速更高（18.6% vs 1.8%）
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。
Tri Pointe Homes, Inc.是总部位于美国内华达州inclinet村的住宅建筑企业，为购房者提供融资及保险服务，业务覆盖亚利桑那、加利福尼亚、内华达、华盛顿、科罗拉多、得克萨斯、哥伦比亚特区、马里兰、北卡罗来纳、南卡罗来纳、弗吉尼亚等地区，按房屋交付量计算是美国第18大住宅建筑商。
FTNT vs TPH — 直观对比
营收规模更大
FTNT
是对方的2.0倍
$972.6M
营收增速更快
FTNT
高出37.2%
-22.4%
净利率更高
FTNT
高出20.4%
6.2%
自由现金流更多
FTNT
多$364.2M
$213.2M
两年增速更快
FTNT
近两年复合增速
1.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $972.6M |
| 净利润 | $506.0M | $60.2M |
| 毛利率 | 79.6% | — |
| 营业利润率 | 32.8% | 8.1% |
| 净利率 | 26.6% | 6.2% |
| 营收同比 | 14.8% | -22.4% |
| 净利润同比 | -3.8% | -53.4% |
| 每股收益（稀释后） | $0.67 | $0.70 |
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FTNTTPH
| Q4 25 | $1.9B | $972.6M | ||
| Q3 25 | $1.7B | $854.7M | ||
| Q2 25 | $1.6B | $902.4M | ||
| Q1 25 | $1.5B | $740.9M | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $1.5B | $1.1B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.4B | $939.4M |
净利润FTNTTPH
| Q4 25 | $506.0M | $60.2M | ||
| Q3 25 | $473.9M | $56.1M | ||
| Q2 25 | $440.1M | $60.7M | ||
| Q1 25 | $433.4M | $64.0M | ||
| Q4 24 | $526.2M | $129.2M | ||
| Q3 24 | $539.9M | $111.8M | ||
| Q2 24 | $379.8M | $118.0M | ||
| Q1 24 | $299.3M | $99.1M |
毛利率FTNTTPH
| 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FTNTTPH
| Q4 25 | 32.8% | 8.1% | ||
| Q3 25 | 31.7% | 8.1% | ||
| Q2 25 | 28.1% | 8.5% | ||
| Q1 25 | 29.5% | 10.4% | ||
| Q4 24 | 34.6% | 13.4% | ||
| Q3 24 | 31.2% | 12.6% | ||
| Q2 24 | 30.5% | 12.9% | ||
| Q1 24 | 23.7% | 12.3% |
净利率FTNTTPH
| Q4 25 | 26.6% | 6.2% | ||
| Q3 25 | 27.5% | 6.6% | ||
| Q2 25 | 27.0% | 6.7% | ||
| Q1 25 | 28.1% | 8.6% | ||
| Q4 24 | 31.7% | 10.3% | ||
| Q3 24 | 35.8% | 9.8% | ||
| Q2 24 | 26.5% | 10.2% | ||
| Q1 24 | 22.1% | 10.5% |
每股收益（稀释后）FTNTTPH
| Q4 25 | $0.67 | $0.70 | ||
| Q3 25 | $0.62 | $0.64 | ||
| Q2 25 | $0.57 | $0.68 | ||
| Q1 25 | $0.56 | $0.70 | ||
| Q4 24 | $0.68 | $1.37 | ||
| Q3 24 | $0.70 | $1.18 | ||
| Q2 24 | $0.49 | $1.25 | ||
| Q1 24 | $0.39 | $1.03 |
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 | $982.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.2B | $3.3B |
| 总资产 | $10.4B | $5.0B |
| 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FTNTTPH
| Q4 25 | $2.5B | $982.8M | ||
| Q3 25 | $2.0B | $792.0M | ||
| Q2 25 | $3.4B | $622.6M | ||
| Q1 25 | $3.6B | $812.9M | ||
| Q4 24 | $2.9B | $970.0M | ||
| Q3 24 | $2.5B | $676.0M | ||
| Q2 24 | $2.2B | $492.9M | ||
| Q1 24 | $1.9B | $944.0M |
总债务FTNTTPH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $646.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益FTNTTPH
| Q4 25 | $1.2B | $3.3B | ||
| Q3 25 | $735.1M | $3.3B | ||
| Q2 25 | $2.1B | $3.3B | ||
| Q1 25 | $2.0B | $3.3B | ||
| Q4 24 | $1.5B | $3.3B | ||
| Q3 24 | $908.1M | $3.2B | ||
| Q2 24 | $288.2M | $3.1B | ||
| Q1 24 | $-137.5M | $3.0B |
总资产FTNTTPH
| Q4 25 | $10.4B | $5.0B | ||
| Q3 25 | $9.4B | $5.0B | ||
| Q2 25 | $10.6B | $4.8B | ||
| Q1 25 | $10.4B | $4.8B | ||
| Q4 24 | $9.8B | $4.9B | ||
| Q3 24 | $8.9B | $4.8B | ||
| Q2 24 | $8.1B | $4.6B | ||
| Q1 24 | $7.7B | $5.0B |
负债/权益比FTNTTPH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.19× | ||
| 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 | $221.0M |
| 自由现金流经营现金流 - 资本支出 | $577.4M | $213.2M |
| 自由现金流率自由现金流/营收 | 30.3% | 21.9% |
| 资本支出强度资本支出/营收 | 2.2% | 0.8% |
| 现金转化率经营现金流/净利润 | 1.23× | 3.67× |
| 过去12个月自由现金流最近4个季度 | $2.2B | $128.5M |
8季度趋势，按日历期对齐
经营现金流FTNTTPH
| Q4 25 | $620.2M | $221.0M | ||
| Q3 25 | $655.2M | $45.9M | ||
| Q2 25 | $451.9M | $-74.3M | ||
| Q1 25 | $863.3M | $-31.2M | ||
| Q4 24 | $477.6M | $360.3M | ||
| Q3 24 | $608.1M | $167.9M | ||
| Q2 24 | $342.0M | $23.1M | ||
| Q1 24 | $830.4M | $144.7M |
自由现金流FTNTTPH
| Q4 25 | $577.4M | $213.2M | ||
| Q3 25 | $567.5M | $39.1M | ||
| Q2 25 | $284.1M | $-84.5M | ||
| Q1 25 | $796.8M | $-39.3M | ||
| Q4 24 | $380.0M | $355.9M | ||
| Q3 24 | $571.8M | $161.5M | ||
| Q2 24 | $318.9M | $17.0M | ||
| Q1 24 | $608.5M | $138.3M |
自由现金流率FTNTTPH
| Q4 25 | 30.3% | 21.9% | ||
| Q3 25 | 32.9% | 4.6% | ||
| Q2 25 | 17.4% | -9.4% | ||
| Q1 25 | 51.8% | -5.3% | ||
| Q4 24 | 22.9% | 28.4% | ||
| Q3 24 | 37.9% | 14.1% | ||
| Q2 24 | 22.2% | 1.5% | ||
| Q1 24 | 45.0% | 14.7% |
资本支出强度FTNTTPH
| Q4 25 | 2.2% | 0.8% | ||
| Q3 25 | 5.1% | 0.8% | ||
| Q2 25 | 10.3% | 1.1% | ||
| Q1 25 | 4.3% | 1.1% | ||
| Q4 24 | 5.9% | 0.3% | ||
| Q3 24 | 2.4% | 0.6% | ||
| Q2 24 | 1.6% | 0.5% | ||
| Q1 24 | 16.4% | 0.7% |
现金转化率FTNTTPH
| Q4 25 | 1.23× | 3.67× | ||
| Q3 25 | 1.38× | 0.82× | ||
| Q2 25 | 1.03× | -1.22× | ||
| Q1 25 | 1.99× | -0.49× | ||
| Q4 24 | 0.91× | 2.79× | ||
| Q3 24 | 1.13× | 1.50× | ||
| Q2 24 | 0.90× | 0.20× | ||
| Q1 24 | 2.77× | 1.46× |
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% |
TPH
| West | $547.8M | 56% |
| Central | $245.1M | 25% |
| East | $161.8M | 17% |
| Financial Services Segment | $18.0M | 2% |
| Land | $7.9M | 1% |
