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应用材料（AMAT）与Molina Healthcare（MOH）财务数据对比。点击上方公司名可切换其他公司
Molina Healthcare的季度营收约是应用材料的1.6倍（$10.8B vs $6.8B），应用材料净利率更高（27.9% vs 0.1%，领先27.8%），Molina Healthcare同比增速更快（-3.1% vs -3.5%），过去两年Molina Healthcare的营收复合增速更高（4.5% 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。
Molina Healthcare是总部位于美国加利福尼亚州长滩的管理式医疗企业，主要通过医疗补助、联邦医疗保险等政府公共医保项目为个人提供健康保险服务，覆盖大量符合公共医保参保资格的群体。
AMAT vs MOH — 直观对比
营收规模更大
MOH
是对方的1.6倍
$6.8B
营收增速更快
MOH
高出0.3%
-3.5%
净利率更高
AMAT
高出27.8%
0.1%
两年增速更快
MOH
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.8B | $10.8B |
| 净利润 | $1.9B | $14.0M |
| 毛利率 | 48.0% | — |
| 营业利润率 | 25.2% | 0.8% |
| 净利率 | 27.9% | 0.1% |
| 营收同比 | -3.5% | -3.1% |
| 净利润同比 | 9.6% | -64.0% |
| 每股收益（稀释后） | $2.36 | $0.27 |
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AMATMOH
| Q1 26 | — | $10.8B | ||
| Q4 25 | $6.8B | $11.4B | ||
| Q3 25 | $7.3B | $11.5B | ||
| Q2 25 | $7.1B | $11.4B | ||
| Q1 25 | $7.2B | $11.1B | ||
| Q4 24 | $7.0B | $10.5B | ||
| Q3 24 | $6.8B | $10.3B | ||
| Q2 24 | $6.6B | $9.9B |
净利润AMATMOH
| Q1 26 | — | $14.0M | ||
| Q4 25 | $1.9B | $-160.0M | ||
| Q3 25 | $1.8B | $79.0M | ||
| Q2 25 | $2.1B | $255.0M | ||
| Q1 25 | $1.2B | $298.0M | ||
| Q4 24 | $1.7B | $251.0M | ||
| Q3 24 | $1.7B | $326.0M | ||
| Q2 24 | $1.7B | $301.0M |
毛利率AMATMOH
| Q1 26 | — | — | ||
| Q4 25 | 48.0% | 10.9% | ||
| Q3 25 | 48.8% | 12.5% | ||
| Q2 25 | 49.1% | 14.0% | ||
| Q1 25 | 48.8% | 15.0% | ||
| Q4 24 | 47.3% | 14.2% | ||
| Q3 24 | 47.3% | 16.4% | ||
| Q2 24 | 47.4% | 15.3% |
营业利润率AMATMOH
| Q1 26 | — | 0.8% | ||
| Q4 25 | 25.2% | -1.4% | ||
| Q3 25 | 30.6% | 1.2% | ||
| Q2 25 | 30.5% | 3.3% | ||
| Q1 25 | 30.4% | 3.9% | ||
| Q4 24 | 29.0% | 3.6% | ||
| Q3 24 | 28.7% | 4.5% | ||
| Q2 24 | 28.8% | 4.4% |
净利率AMATMOH
| Q1 26 | — | 0.1% | ||
| Q4 25 | 27.9% | -1.4% | ||
| Q3 25 | 24.4% | 0.7% | ||
| Q2 25 | 30.1% | 2.2% | ||
| Q1 25 | 16.5% | 2.7% | ||
| Q4 24 | 24.6% | 2.4% | ||
| Q3 24 | 25.2% | 3.2% | ||
| Q2 24 | 25.9% | 3.0% |
每股收益（稀释后）AMATMOH
| Q1 26 | — | $0.27 | ||
| Q4 25 | $2.36 | $-2.79 | ||
| Q3 25 | $2.22 | $1.51 | ||
| Q2 25 | $2.63 | $4.75 | ||
| Q1 25 | $1.45 | $5.45 | ||
| Q4 24 | $2.09 | $4.43 | ||
| Q3 24 | $2.05 | $5.65 | ||
| Q2 24 | $2.06 | $5.17 |
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 | $5.3B |
| 总债务越低越好 | — | $3.8B |
| 股东权益账面价值 | $20.4B | $4.1B |
| 总资产 | $36.3B | $16.4B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资AMATMOH
| Q1 26 | — | $5.3B | ||
| Q4 25 | $8.6B | $8.3B | ||
| Q3 25 | $7.0B | $8.4B | ||
| Q2 25 | $6.7B | $8.8B | ||
| Q1 25 | $8.2B | $9.3B | ||
| Q4 24 | $9.5B | $9.0B | ||
| Q3 24 | $9.1B | $9.2B | ||
| Q2 24 | $7.6B | $8.7B |
总债务AMATMOH
| Q1 26 | — | $3.8B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AMATMOH
| Q1 26 | — | $4.1B | ||
| Q4 25 | $20.4B | $4.1B | ||
| Q3 25 | $19.5B | $4.2B | ||
| Q2 25 | $19.0B | $4.6B | ||
| Q1 25 | $18.6B | $4.3B | ||
| Q4 24 | $19.0B | $4.5B | ||
| Q3 24 | $18.8B | $4.8B | ||
| Q2 24 | $18.2B | $4.8B |
总资产AMATMOH
| Q1 26 | — | $16.4B | ||
| Q4 25 | $36.3B | $15.6B | ||
| Q3 25 | $34.2B | $15.7B | ||
| Q2 25 | $33.6B | $16.2B | ||
| Q1 25 | $33.3B | $16.4B | ||
| Q4 24 | $34.4B | $15.6B | ||
| Q3 24 | $33.6B | $15.8B | ||
| Q2 24 | $31.9B | $15.2B |
负债/权益比AMATMOH
| Q1 26 | — | 0.92× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $2.0B | — |
| 自由现金流率自由现金流/营收 | 30.0% | — |
| 资本支出强度资本支出/营收 | 11.5% | — |
| 现金转化率经营现金流/净利润 | 1.49× | 77.29× |
| 过去12个月自由现金流最近4个季度 | $5.7B | — |
8季度趋势，按日历期对齐
经营现金流AMATMOH
| Q1 26 | — | $1.1B | ||
| Q4 25 | $2.8B | $-298.0M | ||
| Q3 25 | $2.6B | $-125.0M | ||
| Q2 25 | $1.6B | $-302.0M | ||
| Q1 25 | $925.0M | $190.0M | ||
| Q4 24 | $2.6B | $-224.0M | ||
| Q3 24 | $2.4B | $873.0M | ||
| Q2 24 | $1.4B | $-219.0M |
自由现金流AMATMOH
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $-299.0M | ||
| Q3 25 | $2.0B | $-163.0M | ||
| Q2 25 | $1.1B | $-344.0M | ||
| Q1 25 | $544.0M | $168.0M | ||
| Q4 24 | $2.2B | $-235.0M | ||
| Q3 24 | $2.1B | $838.0M | ||
| Q2 24 | $1.1B | $-246.0M |
自由现金流率AMATMOH
| Q1 26 | — | — | ||
| Q4 25 | 30.0% | -2.6% | ||
| Q3 25 | 28.1% | -1.4% | ||
| Q2 25 | 14.9% | -3.0% | ||
| Q1 25 | 7.6% | 1.5% | ||
| Q4 24 | 30.8% | -2.2% | ||
| Q3 24 | 30.8% | 8.1% | ||
| Q2 24 | 17.1% | -2.5% |
资本支出强度AMATMOH
| Q1 26 | — | — | ||
| Q4 25 | 11.5% | 0.0% | ||
| Q3 25 | 8.0% | 0.3% | ||
| Q2 25 | 7.2% | 0.4% | ||
| Q1 25 | 5.3% | 0.2% | ||
| Q4 24 | 5.8% | 0.1% | ||
| Q3 24 | 4.4% | 0.3% | ||
| Q2 24 | 3.9% | 0.3% |
现金转化率AMATMOH
| Q1 26 | — | 77.29× | ||
| Q4 25 | 1.49× | — | ||
| Q3 25 | 1.48× | -1.58× | ||
| Q2 25 | 0.74× | -1.18× | ||
| Q1 25 | 0.78× | 0.64× | ||
| Q4 24 | 1.49× | -0.89× | ||
| Q3 24 | 1.40× | 2.68× | ||
| Q2 24 | 0.81× | -0.73× |
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% |
MOH
| Premium revenue | $10.2B | 94% |
| Premium tax revenue | $504.0M | 5% |
| Investment income | $98.0M | 1% |
| Other revenue | $22.0M | 0% |
