vs
应用材料（AMAT）与杜克能源（DUK）财务数据对比。点击上方公司名可切换其他公司
杜克能源的季度营收约是应用材料的1.1倍（$7.8B vs $6.8B），应用材料净利率更高（27.9% vs 15.2%，领先12.7%），杜克能源同比增速更快（7.4% vs -3.5%），应用材料自由现金流更多（$2.0B vs $-485.0M），过去两年杜克能源的营收复合增速更高（1.6% vs 0.7%）
应用材料是总部位于美国加利福尼亚州圣克拉拉的企业，为全球第二大半导体设备供应商，主营半导体芯片、消费电子平板显示、太阳能产品制造所需的设备、服务及软件，同时供应柔性电子、封装等领域的涂层生产设备。
杜克能源是总部位于美国北卡罗来纳州夏洛特的电力及天然气控股企业，服务范围覆盖美国东部地区，客户总量超700万。2024年该企业位列美国财富500强第141位，创下其在该榜单的历史最高排名。
AMAT vs DUK — 直观对比
营收规模更大
DUK
是对方的1.1倍
$6.8B
营收增速更快
DUK
高出10.8%
-3.5%
净利率更高
AMAT
高出12.7%
15.2%
自由现金流更多
AMAT
多$2.5B
$-485.0M
两年增速更快
DUK
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.8B | $7.8B |
| 净利润 | $1.9B | $1.2B |
| 毛利率 | 48.0% | — |
| 营业利润率 | 25.2% | 27.3% |
| 净利率 | 27.9% | 15.2% |
| 营收同比 | -3.5% | 7.4% |
| 净利润同比 | 9.6% | -1.7% |
| 每股收益（稀释后） | $2.36 | $1.49 |
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AMATDUK
| Q4 25 | $6.8B | $7.8B | ||
| Q3 25 | $7.3B | $8.4B | ||
| Q2 25 | $7.1B | $7.4B | ||
| Q1 25 | $7.2B | $8.2B | ||
| Q4 24 | $7.0B | $7.2B | ||
| Q3 24 | $6.8B | $8.1B | ||
| Q2 24 | $6.6B | $7.2B | ||
| Q1 24 | $6.7B | $7.5B |
净利润AMATDUK
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $1.8B | $1.4B | ||
| Q2 25 | $2.1B | $984.0M | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.7B | $1.2B | ||
| Q3 24 | $1.7B | $1.3B | ||
| Q2 24 | $1.7B | $900.0M | ||
| Q1 24 | $2.0B | $1.1B |
毛利率AMATDUK
| Q4 25 | 48.0% | — | ||
| Q3 25 | 48.8% | — | ||
| Q2 25 | 49.1% | — | ||
| Q1 25 | 48.8% | — | ||
| Q4 24 | 47.3% | — | ||
| Q3 24 | 47.3% | — | ||
| Q2 24 | 47.4% | — | ||
| Q1 24 | 47.8% | — |
营业利润率AMATDUK
| Q4 25 | 25.2% | 27.3% | ||
| Q3 25 | 30.6% | 27.9% | ||
| Q2 25 | 30.5% | 24.8% | ||
| Q1 25 | 30.4% | 28.5% | ||
| Q4 24 | 29.0% | 29.2% | ||
| Q3 24 | 28.7% | 26.4% | ||
| Q2 24 | 28.8% | 23.9% | ||
| Q1 24 | 29.3% | 26.1% |
净利率AMATDUK
| Q4 25 | 27.9% | 15.2% | ||
| Q3 25 | 24.4% | 17.0% | ||
| Q2 25 | 30.1% | 13.3% | ||
| Q1 25 | 16.5% | 16.8% | ||
| Q4 24 | 24.6% | 16.6% | ||
| Q3 24 | 25.2% | 15.8% | ||
| Q2 24 | 25.9% | 12.6% | ||
| Q1 24 | 30.1% | 15.1% |
每股收益（稀释后）AMATDUK
| Q4 25 | $2.36 | $1.49 | ||
| Q3 25 | $2.22 | $1.81 | ||
| Q2 25 | $2.63 | $1.25 | ||
| Q1 25 | $1.45 | $1.76 | ||
| Q4 24 | $2.09 | $1.54 | ||
| Q3 24 | $2.05 | $1.60 | ||
| Q2 24 | $2.06 | $1.13 | ||
| Q1 24 | $2.41 | $1.44 |
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 | $8.6B | $245.0M |
| 总债务越低越好 | — | $80.1B |
| 股东权益账面价值 | $20.4B | $51.8B |
| 总资产 | $36.3B | $195.7B |
| 负债/权益比越低杠杆越低 | — | 1.55× |
8季度趋势，按日历期对齐
现金及短期投资AMATDUK
| Q4 25 | $8.6B | $245.0M | ||
| Q3 25 | $7.0B | $688.0M | ||
| Q2 25 | $6.7B | $344.0M | ||
| Q1 25 | $8.2B | $475.0M | ||
| Q4 24 | $9.5B | $314.0M | ||
| Q3 24 | $9.1B | $376.0M | ||
| Q2 24 | $7.6B | $390.0M | ||
| Q1 24 | $7.5B | $459.0M |
总债务AMATDUK
| Q4 25 | — | $80.1B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $76.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AMATDUK
| Q4 25 | $20.4B | $51.8B | ||
| Q3 25 | $19.5B | $51.5B | ||
| Q2 25 | $19.0B | $50.9B | ||
| Q1 25 | $18.6B | $50.7B | ||
| Q4 24 | $19.0B | $50.1B | ||
| Q3 24 | $18.8B | $49.1B | ||
| Q2 24 | $18.2B | $49.7B | ||
| Q1 24 | $17.4B | $49.6B |
总资产AMATDUK
| Q4 25 | $36.3B | $195.7B | ||
| Q3 25 | $34.2B | $192.3B | ||
| Q2 25 | $33.6B | $189.7B | ||
| Q1 25 | $33.3B | $187.5B | ||
| Q4 24 | $34.4B | $186.3B | ||
| Q3 24 | $33.6B | $183.6B | ||
| Q2 24 | $31.9B | $181.6B | ||
| Q1 24 | $31.5B | $178.7B |
负债/权益比AMATDUK
| Q4 25 | — | 1.55× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.52× | ||
| 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 | $2.8B | $3.7B |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $-485.0M |
| 自由现金流率自由现金流/营收 | 30.0% | -6.2% |
| 资本支出强度资本支出/营收 | 11.5% | 53.3% |
| 现金转化率经营现金流/净利润 | 1.49× | 3.09× |
| 过去12个月自由现金流最近4个季度 | $5.7B | $-1.7B |
8季度趋势，按日历期对齐
经营现金流AMATDUK
| Q4 25 | $2.8B | $3.7B | ||
| Q3 25 | $2.6B | $3.6B | ||
| Q2 25 | $1.6B | $2.9B | ||
| Q1 25 | $925.0M | $2.2B | ||
| Q4 24 | $2.6B | $3.4B | ||
| Q3 24 | $2.4B | $3.5B | ||
| Q2 24 | $1.4B | $3.0B | ||
| Q1 24 | $2.3B | $2.5B |
自由现金流AMATDUK
| Q4 25 | $2.0B | $-485.0M | ||
| Q3 25 | $2.0B | $179.0M | ||
| Q2 25 | $1.1B | $-417.0M | ||
| Q1 25 | $544.0M | $-971.0M | ||
| Q4 24 | $2.2B | $288.0M | ||
| Q3 24 | $2.1B | $537.0M | ||
| Q2 24 | $1.1B | $-43.0M | ||
| Q1 24 | $2.1B | $-734.0M |
自由现金流率AMATDUK
| Q4 25 | 30.0% | -6.2% | ||
| Q3 25 | 28.1% | 2.1% | ||
| Q2 25 | 14.9% | -5.7% | ||
| Q1 25 | 7.6% | -11.8% | ||
| Q4 24 | 30.8% | 4.0% | ||
| Q3 24 | 30.8% | 6.6% | ||
| Q2 24 | 17.1% | -0.6% | ||
| Q1 24 | 31.3% | -9.7% |
资本支出强度AMATDUK
| Q4 25 | 11.5% | 53.3% | ||
| Q3 25 | 8.0% | 41.2% | ||
| Q2 25 | 7.2% | 44.5% | ||
| Q1 25 | 5.3% | 38.3% | ||
| Q4 24 | 5.8% | 42.7% | ||
| Q3 24 | 4.4% | 36.8% | ||
| Q2 24 | 3.9% | 41.9% | ||
| Q1 24 | 3.4% | 42.6% |
现金转化率AMATDUK
| Q4 25 | 1.49× | 3.09× | ||
| Q3 25 | 1.48× | 2.56× | ||
| Q2 25 | 0.74× | 2.91× | ||
| Q1 25 | 0.78× | 1.58× | ||
| Q4 24 | 1.49× | 2.80× | ||
| Q3 24 | 1.40× | 2.75× | ||
| Q2 24 | 0.81× | 3.28× | ||
| Q1 24 | 1.15× | 2.17× |
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
AMAT
| Semiconductor Systems Segment | $4.8B | 70% |
| Applied Global Services Segment | $1.6B | 24% |
| Other | $415.0M | 6% |
DUK
| Electric Utilitiesand Infrastructure | $7.0B | 90% |
| Other Revenues | $741.0M | 10% |
