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应用材料（AMAT）与力特（LFUS）财务数据对比。点击上方公司名可切换其他公司
应用材料的季度营收约是力特的11.4倍（$6.8B vs $593.9M）。应用材料净利率更高（27.9% vs -40.8%，领先68.7%）。力特同比增速更快（12.2% vs -3.5%）。应用材料自由现金流更多（$2.0B vs $119.7M）。过去两年力特的营收复合增速更高（5.3% 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。
力特是全球领先的电路保护、传感及控制组件制造商，主营保险丝、半导体保护器件、功率开关、传感器、断路器等产品，服务汽车、工业电子、消费电子、通信及可再生能源等领域，为全球客户提供提升设备安全可靠性的解决方案。
AMAT vs LFUS — 直观对比
营收规模更大
AMAT
是对方的11.4倍
$593.9M
营收增速更快
LFUS
高出15.6%
-3.5%
净利率更高
AMAT
高出68.7%
-40.8%
自由现金流更多
AMAT
多$1.9B
$119.7M
两年增速更快
LFUS
近两年复合增速
0.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.8B | $593.9M |
| 净利润 | $1.9B | $-242.1M |
| 毛利率 | 48.0% | 38.0% |
| 营业利润率 | 25.2% | -37.5% |
| 净利率 | 27.9% | -40.8% |
| 营收同比 | -3.5% | 12.2% |
| 净利润同比 | 9.6% | -367.6% |
| 每股收益（稀释后） | $2.36 | $-9.71 |
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AMATLFUS
| Q4 25 | $6.8B | $593.9M | ||
| Q3 25 | $7.3B | $624.6M | ||
| Q2 25 | $7.1B | $613.4M | ||
| Q1 25 | $7.2B | $554.3M | ||
| Q4 24 | $7.0B | $529.5M | ||
| Q3 24 | $6.8B | $567.4M | ||
| Q2 24 | $6.6B | $558.5M | ||
| Q1 24 | $6.7B | $535.4M |
净利润AMATLFUS
| Q4 25 | $1.9B | $-242.1M | ||
| Q3 25 | $1.8B | $69.5M | ||
| Q2 25 | $2.1B | $57.3M | ||
| Q1 25 | $1.2B | $43.6M | ||
| Q4 24 | $1.7B | $-51.8M | ||
| Q3 24 | $1.7B | $58.1M | ||
| Q2 24 | $1.7B | $45.5M | ||
| Q1 24 | $2.0B | $48.5M |
毛利率AMATLFUS
| Q4 25 | 48.0% | 38.0% | ||
| Q3 25 | 48.8% | 38.6% | ||
| Q2 25 | 49.1% | 37.8% | ||
| Q1 25 | 48.8% | 37.4% | ||
| Q4 24 | 47.3% | 33.4% | ||
| Q3 24 | 47.3% | 38.1% | ||
| Q2 24 | 47.4% | 37.1% | ||
| Q1 24 | 47.8% | 35.1% |
营业利润率AMATLFUS
| Q4 25 | 25.2% | -37.5% | ||
| Q3 25 | 30.6% | 15.6% | ||
| Q2 25 | 30.5% | 15.1% | ||
| Q1 25 | 30.4% | 12.7% | ||
| Q4 24 | 29.0% | -9.3% | ||
| Q3 24 | 28.7% | 15.5% | ||
| Q2 24 | 28.8% | 11.7% | ||
| Q1 24 | 29.3% | 10.3% |
净利率AMATLFUS
| Q4 25 | 27.9% | -40.8% | ||
| Q3 25 | 24.4% | 11.1% | ||
| Q2 25 | 30.1% | 9.3% | ||
| Q1 25 | 16.5% | 7.9% | ||
| Q4 24 | 24.6% | -9.8% | ||
| Q3 24 | 25.2% | 10.2% | ||
| Q2 24 | 25.9% | 8.1% | ||
| Q1 24 | 30.1% | 9.0% |
每股收益（稀释后）AMATLFUS
| Q4 25 | $2.36 | $-9.71 | ||
| Q3 25 | $2.22 | $2.77 | ||
| Q2 25 | $2.63 | $2.30 | ||
| Q1 25 | $1.45 | $1.75 | ||
| Q4 24 | $2.09 | $-2.07 | ||
| Q3 24 | $2.05 | $2.32 | ||
| Q2 24 | $2.06 | $1.82 | ||
| Q1 24 | $2.41 | $1.93 |
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 | $563.7M |
| 总债务越低越好 | — | $802.6M |
| 股东权益账面价值 | $20.4B | $2.4B |
| 总资产 | $36.3B | $4.0B |
| 负债/权益比越低杠杆越低 | — | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资AMATLFUS
| Q4 25 | $8.6B | $563.7M | ||
| Q3 25 | $7.0B | $815.0M | ||
| Q2 25 | $6.7B | $685.5M | ||
| Q1 25 | $8.2B | $619.7M | ||
| Q4 24 | $9.5B | $725.9M | ||
| Q3 24 | $9.1B | $630.7M | ||
| Q2 24 | $7.6B | $562.7M | ||
| Q1 24 | $7.5B | $562.4M |
总债务AMATLFUS
| Q4 25 | — | $802.6M | ||
| Q3 25 | — | $805.8M | ||
| Q2 25 | — | $810.2M | ||
| Q1 25 | — | $805.7M | ||
| Q4 24 | — | $856.1M | ||
| Q3 24 | — | $867.7M | ||
| Q2 24 | — | $863.5M | ||
| Q1 24 | — | $866.7M |
股东权益AMATLFUS
| Q4 25 | $20.4B | $2.4B | ||
| Q3 25 | $19.5B | $2.7B | ||
| Q2 25 | $19.0B | $2.6B | ||
| Q1 25 | $18.6B | $2.5B | ||
| Q4 24 | $19.0B | $2.4B | ||
| Q3 24 | $18.8B | $2.6B | ||
| Q2 24 | $18.2B | $2.5B | ||
| Q1 24 | $17.4B | $2.5B |
总资产AMATLFUS
| Q4 25 | $36.3B | $4.0B | ||
| Q3 25 | $34.2B | $4.2B | ||
| Q2 25 | $33.6B | $4.1B | ||
| Q1 25 | $33.3B | $3.9B | ||
| Q4 24 | $34.4B | $3.9B | ||
| Q3 24 | $33.6B | $4.1B | ||
| Q2 24 | $31.9B | $3.9B | ||
| Q1 24 | $31.5B | $3.9B |
负债/权益比AMATLFUS
| Q4 25 | — | 0.33× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.35× | ||
| Q3 24 | — | 0.34× | ||
| Q2 24 | — | 0.35× | ||
| Q1 24 | — | 0.35× |
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 | $138.7M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $119.7M |
| 自由现金流率自由现金流/营收 | 30.0% | 20.2% |
| 资本支出强度资本支出/营收 | 11.5% | 3.2% |
| 现金转化率经营现金流/净利润 | 1.49× | — |
| 过去12个月自由现金流最近4个季度 | $5.7B | $366.1M |
8季度趋势，按日历期对齐
经营现金流AMATLFUS
| Q4 25 | $2.8B | $138.7M | ||
| Q3 25 | $2.6B | $146.9M | ||
| Q2 25 | $1.6B | $82.5M | ||
| Q1 25 | $925.0M | $65.8M | ||
| Q4 24 | $2.6B | $160.6M | ||
| Q3 24 | $2.4B | $80.4M | ||
| Q2 24 | $1.4B | $69.4M | ||
| Q1 24 | $2.3B | $57.1M |
自由现金流AMATLFUS
| Q4 25 | $2.0B | $119.7M | ||
| Q3 25 | $2.0B | $131.2M | ||
| Q2 25 | $1.1B | $72.6M | ||
| Q1 25 | $544.0M | $42.7M | ||
| Q4 24 | $2.2B | $134.8M | ||
| Q3 24 | $2.1B | $65.0M | ||
| Q2 24 | $1.1B | $50.3M | ||
| Q1 24 | $2.1B | $41.6M |
自由现金流率AMATLFUS
| Q4 25 | 30.0% | 20.2% | ||
| Q3 25 | 28.1% | 21.0% | ||
| Q2 25 | 14.9% | 11.8% | ||
| Q1 25 | 7.6% | 7.7% | ||
| Q4 24 | 30.8% | 25.5% | ||
| Q3 24 | 30.8% | 11.5% | ||
| Q2 24 | 17.1% | 9.0% | ||
| Q1 24 | 31.3% | 7.8% |
资本支出强度AMATLFUS
| Q4 25 | 11.5% | 3.2% | ||
| Q3 25 | 8.0% | 2.5% | ||
| Q2 25 | 7.2% | 1.6% | ||
| Q1 25 | 5.3% | 4.2% | ||
| Q4 24 | 5.8% | 4.9% | ||
| Q3 24 | 4.4% | 2.7% | ||
| Q2 24 | 3.9% | 3.4% | ||
| Q1 24 | 3.4% | 2.9% |
现金转化率AMATLFUS
| Q4 25 | 1.49× | — | ||
| Q3 25 | 1.48× | 2.11× | ||
| Q2 25 | 0.74× | 1.44× | ||
| Q1 25 | 0.78× | 1.51× | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 1.40× | 1.39× | ||
| Q2 24 | 0.81× | 1.53× | ||
| Q1 24 | 1.15× | 1.18× |
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% |
LFUS
| Electronics Passive Products And Sensors | $174.9M | 29% |
| Electronics Semiconductor | $170.3M | 29% |
| Industrial Products | $85.0M | 14% |
| Commercial Vehicle Products | $76.2M | 13% |
| Passenger Car Products | $72.8M | 12% |
| Automotive Sensors | $14.7M | 2% |
| Dortmund Fab | $12.5M | 2% |
