The finite-time output consensus (FTOC) issue of heterogeneous fractional-order multiagent systems (HFO-MASs) is investigated in this article. First, a new principle of finite-time convergence for absolutely continuous functions is developed if a fractional derivative inequality is satisfied. Next, in order to remove the assumption that the leader's system matrix is known to all agents in previous studies, a distributed adaptive finite-time observer is designed, which can estimate not only the leader's state but also the leader's system matrix. Then, a novel finite-time event-triggered compensator with intermittent communication is constructed to estimate the leader's state by introducing a dynamic threshold for a novel triggering function. In this case, the high frequency triggering is restrained and the triggering number is significantly reduced. The Zeno behavior does not exist by choosing parameters appropriately. In addition, two finite-time control strategies are constructed based on the above distributed observer and event-triggered compensator, respectively, to achieve output consensus in finite time. The feasibility of the proposed method is ensured by the comprehensive theoretical demonstration of the finite-time consensus stability and the analysis of the Zeno behavior. Finally, the examples are given to demonstrate the conclusion.