vs
亚德诺半导体（ADI）与西部数据（WDC）财务数据对比。点击上方公司名可切换其他公司
亚德诺半导体的季度营收约是西部数据的1.0倍（$3.2B vs $3.0B），西部数据净利率更高（61.1% vs 26.3%，领先34.8%），西部数据同比增速更快（31.5% vs 30.4%），过去两年亚德诺半导体的营收复合增速更高（21.0% vs -6.6%）
亚德诺半导体（ADI）是总部位于美国马萨诸塞州威尔明顿的跨国半导体企业，专注于数据转换、信号处理与电源管理技术研发，相关产品广泛应用于通信、工业、汽车等多个领域，是全球模拟芯片领域的领先厂商。
西部数据（简称WD）是总部位于美国加利福尼亚州圣何塞的知名数据存储企业，成立于1970年，是全球最大的硬盘驱动器（HDD）制造商之一，产品覆盖消费级、企业级等多元存储场景，为全球客户提供高性能、高可靠性的存储解决方案。
ADI vs WDC — 直观对比
营收规模更大
ADI
是对方的1.0倍
$3.0B
营收增速更快
WDC
高出1.1%
30.4%
净利率更高
WDC
高出34.8%
26.3%
两年增速更快
ADI
近两年复合增速
-6.6%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $3.0B |
| 净利润 | $830.8M | $1.8B |
| 毛利率 | 64.7% | 45.7% |
| 营业利润率 | 31.5% | 30.1% |
| 净利率 | 26.3% | 61.1% |
| 营收同比 | 30.4% | 31.5% |
| 净利润同比 | 112.3% | 254.2% |
| 每股收益（稀释后） | $1.69 | $4.73 |
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ADIWDC
| Q1 26 | $3.2B | $3.0B | ||
| Q4 25 | $3.1B | $2.8B | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $2.6B | $-1.2B | ||
| Q1 25 | $2.4B | $2.3B | ||
| Q4 24 | $2.4B | $4.3B | ||
| Q3 24 | $2.3B | $4.1B | ||
| Q2 24 | $2.2B | $3.8B |
净利润ADIWDC
| Q1 26 | $830.8M | $1.8B | ||
| Q4 25 | $787.7M | $1.2B | ||
| Q3 25 | $518.5M | — | ||
| Q2 25 | $569.8M | $282.0M | ||
| Q1 25 | $391.3M | $520.0M | ||
| Q4 24 | $478.1M | $594.0M | ||
| Q3 24 | $392.2M | $493.0M | ||
| Q2 24 | $302.2M | $39.0M |
毛利率ADIWDC
| Q1 26 | 64.7% | 45.7% | ||
| Q4 25 | 63.1% | 43.5% | ||
| Q3 25 | 62.1% | — | ||
| Q2 25 | 61.0% | — | ||
| Q1 25 | 59.0% | 39.8% | ||
| Q4 24 | 58.0% | 35.4% | ||
| Q3 24 | 56.7% | 37.9% | ||
| Q2 24 | 54.7% | 35.9% |
营业利润率ADIWDC
| Q1 26 | 31.5% | 30.1% | ||
| Q4 25 | 30.7% | 28.1% | ||
| Q3 25 | 28.4% | — | ||
| Q2 25 | 25.7% | — | ||
| Q1 25 | 20.3% | 33.1% | ||
| Q4 24 | 23.3% | 19.9% | ||
| Q3 24 | 21.2% | 18.1% | ||
| Q2 24 | 17.9% | 5.7% |
净利率ADIWDC
| Q1 26 | 26.3% | 61.1% | ||
| Q4 25 | 25.6% | 41.9% | ||
| Q3 25 | 18.0% | — | ||
| Q2 25 | 21.6% | -24.4% | ||
| Q1 25 | 16.1% | 22.7% | ||
| Q4 24 | 19.6% | 13.9% | ||
| Q3 24 | 17.0% | 12.0% | ||
| Q2 24 | 14.0% | 1.0% |
每股收益（稀释后）ADIWDC
| Q1 26 | $1.69 | $4.73 | ||
| Q4 25 | $1.60 | $3.07 | ||
| Q3 25 | $1.04 | — | ||
| Q2 25 | $1.14 | $0.72 | ||
| Q1 25 | $0.78 | $1.42 | ||
| Q4 24 | $0.95 | $1.63 | ||
| Q3 24 | $0.79 | $1.35 | ||
| Q2 24 | $0.61 | $0.15 |
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 | $2.9B | $2.0B |
| 总债务越低越好 | — | $4.7B |
| 股东权益账面价值 | $33.8B | $7.1B |
| 总资产 | $48.0B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 0.65× |
8季度趋势，按日历期对齐
现金及短期投资ADIWDC
| Q1 26 | $2.9B | $2.0B | ||
| Q4 25 | $3.7B | $2.0B | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.4B | $2.1B | ||
| Q1 25 | $2.3B | $3.5B | ||
| Q4 24 | $2.4B | $2.3B | ||
| Q3 24 | $2.1B | $1.7B | ||
| Q2 24 | $2.4B | $1.9B |
总债务ADIWDC
| Q1 26 | — | $4.7B | ||
| Q4 25 | — | $4.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $4.7B | ||
| Q1 25 | — | $7.3B | ||
| Q4 24 | — | $7.4B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $7.4B |
股东权益ADIWDC
| Q1 26 | $33.8B | $7.1B | ||
| Q4 25 | $33.8B | $5.9B | ||
| Q3 25 | $34.1B | — | ||
| Q2 25 | $35.0B | $5.3B | ||
| Q1 25 | $35.1B | $5.2B | ||
| Q4 24 | $35.2B | $12.1B | ||
| Q3 24 | $35.2B | $11.6B | ||
| Q2 24 | $35.2B | $10.8B |
总资产ADIWDC
| Q1 26 | $48.0B | $15.6B | ||
| Q4 25 | $48.0B | $14.4B | ||
| Q3 25 | $48.2B | — | ||
| Q2 25 | $47.3B | $14.0B | ||
| Q1 25 | $48.0B | $16.4B | ||
| Q4 24 | $48.2B | $25.5B | ||
| Q3 24 | $48.6B | $24.8B | ||
| Q2 24 | $48.9B | $24.2B |
负债/权益比ADIWDC
| Q1 26 | — | 0.65× | ||
| Q4 25 | — | 0.80× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.89× | ||
| Q1 25 | — | 1.42× | ||
| Q4 24 | — | 0.61× | ||
| Q3 24 | — | 0.64× | ||
| Q2 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 | $1.4B | — |
| 自由现金流经营现金流 - 资本支出 | $1.3B | — |
| 自由现金流率自由现金流/营收 | 39.8% | — |
| 资本支出强度资本支出/营收 | 3.5% | — |
| 现金转化率经营现金流/净利润 | 1.65× | — |
| 过去12个月自由现金流最近4个季度 | $4.6B | — |
8季度趋势，按日历期对齐
经营现金流ADIWDC
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.7B | $672.0M | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $819.5M | $746.0M | ||
| Q1 25 | $1.1B | $508.0M | ||
| Q4 24 | $1.1B | $403.0M | ||
| Q3 24 | $855.0M | $34.0M | ||
| Q2 24 | $807.9M | $366.0M |
自由现金流ADIWDC
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $599.0M | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $729.2M | $675.0M | ||
| Q1 25 | $977.8M | $379.0M | ||
| Q4 24 | $885.4M | $287.0M | ||
| Q3 24 | $701.1M | $-62.0M | ||
| Q2 24 | $619.7M | $250.0M |
自由现金流率ADIWDC
| Q1 26 | 39.8% | — | ||
| Q4 25 | 48.3% | 21.3% | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 27.6% | -58.5% | ||
| Q1 25 | 40.4% | 16.5% | ||
| Q4 24 | 36.2% | 6.7% | ||
| Q3 24 | 30.3% | -1.5% | ||
| Q2 24 | 28.7% | 6.6% |
资本支出强度ADIWDC
| Q1 26 | 3.5% | — | ||
| Q4 25 | 7.0% | 2.6% | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 3.4% | -6.2% | ||
| Q1 25 | 6.1% | 5.6% | ||
| Q4 24 | 6.8% | 2.7% | ||
| Q3 24 | 6.7% | 2.3% | ||
| Q2 24 | 8.7% | 3.1% |
现金转化率ADIWDC
| Q1 26 | 1.65× | — | ||
| Q4 25 | 2.16× | 0.57× | ||
| Q3 25 | 2.25× | — | ||
| Q2 25 | 1.44× | 2.65× | ||
| Q1 25 | 2.88× | 0.98× | ||
| Q4 24 | 2.20× | 0.68× | ||
| Q3 24 | 2.18× | 0.07× | ||
| Q2 24 | 2.67× | 9.38× |
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
ADI
| Sales Channel Directly To Consumer | $1.4B | 44% |
| Automotive | $794.4M | 25% |
| Communications | $476.8M | 15% |
| Consumer | $399.8M | 13% |
| Other | $71.3M | 2% |
| Sales Channel Other | $40.8M | 1% |
WDC
| Cloud | $2.7B | 89% |
| Client Devices | $176.0M | 6% |
| Consumer | $168.0M | 6% |
