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应用材料（AMAT）与MACOM Technology Solutions Holdings, Inc.（MTSI）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MACOM Technology Solutions Holdings, Inc.的25.0倍（$6.8B vs $271.6M），应用材料净利率更高（27.9% vs 18.0%，领先9.9%），MACOM Technology Solutions Holdings, Inc.同比增速更快（24.5% vs -3.5%），应用材料自由现金流更多（$2.0B vs $30.0M），过去两年MACOM Technology Solutions Holdings, Inc.的营收复合增速更高（22.4% 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。
MACOM是美国知名的射频、微波及毫米波半导体器件与组件研发生产商，总部位于马萨诸塞州洛厄尔，2005年曾是当地规模最大的私营雇主。公司已通过ISO9001国际质量体系认证及ISO14001环境管理体系认证，在北美、欧洲、亚洲及澳大利亚均设有设计中心与销售办事处。
AMAT vs MTSI — 直观对比
营收规模更大
AMAT
是对方的25.0倍
$271.6M
营收增速更快
MTSI
高出28.0%
-3.5%
净利率更高
AMAT
高出9.9%
18.0%
自由现金流更多
AMAT
多$2.0B
$30.0M
两年增速更快
MTSI
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.8B | $271.6M |
| 净利润 | $1.9B | $48.8M |
| 毛利率 | 48.0% | 55.9% |
| 营业利润率 | 25.2% | 15.9% |
| 净利率 | 27.9% | 18.0% |
| 营收同比 | -3.5% | 24.5% |
| 净利润同比 | 9.6% | 129.1% |
| 每股收益（稀释后） | $2.36 | $0.64 |
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AMATMTSI
| Q1 26 | — | $271.6M | ||
| Q4 25 | $6.8B | $261.2M | ||
| Q3 25 | $7.3B | $252.1M | ||
| Q2 25 | $7.1B | $235.9M | ||
| Q1 25 | $7.2B | $218.1M | ||
| Q4 24 | $7.0B | — | ||
| Q3 24 | $6.8B | $200.7M | ||
| Q2 24 | $6.6B | $190.5M |
净利润AMATMTSI
| Q1 26 | — | $48.8M | ||
| Q4 25 | $1.9B | $45.1M | ||
| Q3 25 | $1.8B | $36.5M | ||
| Q2 25 | $2.1B | $31.7M | ||
| Q1 25 | $1.2B | $-167.5M | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.7B | $29.4M | ||
| Q2 24 | $1.7B | $19.9M |
毛利率AMATMTSI
| Q1 26 | — | 55.9% | ||
| Q4 25 | 48.0% | 54.5% | ||
| Q3 25 | 48.8% | 55.3% | ||
| Q2 25 | 49.1% | 55.2% | ||
| Q1 25 | 48.8% | 53.7% | ||
| Q4 24 | 47.3% | — | ||
| Q3 24 | 47.3% | 54.7% | ||
| Q2 24 | 47.4% | 53.2% |
营业利润率AMATMTSI
| Q1 26 | — | 15.9% | ||
| Q4 25 | 25.2% | 15.2% | ||
| Q3 25 | 30.6% | 14.9% | ||
| Q2 25 | 30.5% | 14.8% | ||
| Q1 25 | 30.4% | 8.0% | ||
| Q4 24 | 29.0% | — | ||
| Q3 24 | 28.7% | 13.7% | ||
| Q2 24 | 28.8% | 10.4% |
净利率AMATMTSI
| Q1 26 | — | 18.0% | ||
| Q4 25 | 27.9% | 17.3% | ||
| Q3 25 | 24.4% | 14.5% | ||
| Q2 25 | 30.1% | 13.4% | ||
| Q1 25 | 16.5% | -76.8% | ||
| Q4 24 | 24.6% | — | ||
| Q3 24 | 25.2% | 14.7% | ||
| Q2 24 | 25.9% | 10.5% |
每股收益（稀释后）AMATMTSI
| Q1 26 | — | $0.64 | ||
| Q4 25 | $2.36 | $0.67 | ||
| Q3 25 | $2.22 | $0.48 | ||
| Q2 25 | $2.63 | $0.42 | ||
| Q1 25 | $1.45 | $-2.30 | ||
| Q4 24 | $2.09 | — | ||
| Q3 24 | $2.05 | $0.40 | ||
| Q2 24 | $2.06 | $0.27 |
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 | $768.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $20.4B | $1.4B |
| 总资产 | $36.3B | $2.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AMATMTSI
| Q1 26 | — | $768.5M | ||
| Q4 25 | $8.6B | $786.0M | ||
| Q3 25 | $7.0B | $735.2M | ||
| Q2 25 | $6.7B | $681.5M | ||
| Q1 25 | $8.2B | $656.5M | ||
| Q4 24 | $9.5B | — | ||
| Q3 24 | $9.1B | $581.9M | ||
| Q2 24 | $7.6B | $521.5M |
股东权益AMATMTSI
| Q1 26 | — | $1.4B | ||
| Q4 25 | $20.4B | $1.3B | ||
| Q3 25 | $19.5B | $1.3B | ||
| Q2 25 | $19.0B | $1.2B | ||
| Q1 25 | $18.6B | $1.2B | ||
| Q4 24 | $19.0B | — | ||
| Q3 24 | $18.8B | $1.1B | ||
| Q2 24 | $18.2B | $1.1B |
总资产AMATMTSI
| Q1 26 | — | $2.1B | ||
| Q4 25 | $36.3B | $2.1B | ||
| Q3 25 | $34.2B | $2.0B | ||
| Q2 25 | $33.6B | $1.9B | ||
| Q1 25 | $33.3B | $1.8B | ||
| Q4 24 | $34.4B | — | ||
| Q3 24 | $33.6B | $1.8B | ||
| Q2 24 | $31.9B | $1.7B |
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 | $42.9M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $30.0M |
| 自由现金流率自由现金流/营收 | 30.0% | 11.0% |
| 资本支出强度资本支出/营收 | 11.5% | 4.8% |
| 现金转化率经营现金流/净利润 | 1.49× | 0.88× |
| 过去12个月自由现金流最近4个季度 | $5.7B | $161.5M |
8季度趋势，按日历期对齐
经营现金流AMATMTSI
| Q1 26 | — | $42.9M | ||
| Q4 25 | $2.8B | $69.6M | ||
| Q3 25 | $2.6B | $60.4M | ||
| Q2 25 | $1.6B | $38.7M | ||
| Q1 25 | $925.0M | $66.7M | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.4B | $62.3M | ||
| Q2 24 | $1.4B | $49.0M |
自由现金流AMATMTSI
| Q1 26 | — | $30.0M | ||
| Q4 25 | $2.0B | $49.4M | ||
| Q3 25 | $2.0B | $51.6M | ||
| Q2 25 | $1.1B | $30.5M | ||
| Q1 25 | $544.0M | $61.3M | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.1B | $57.1M | ||
| Q2 24 | $1.1B | $41.5M |
自由现金流率AMATMTSI
| Q1 26 | — | 11.0% | ||
| Q4 25 | 30.0% | 18.9% | ||
| Q3 25 | 28.1% | 20.5% | ||
| Q2 25 | 14.9% | 12.9% | ||
| Q1 25 | 7.6% | 28.1% | ||
| Q4 24 | 30.8% | — | ||
| Q3 24 | 30.8% | 28.5% | ||
| Q2 24 | 17.1% | 21.8% |
资本支出强度AMATMTSI
| Q1 26 | — | 4.8% | ||
| Q4 25 | 11.5% | 7.7% | ||
| Q3 25 | 8.0% | 3.5% | ||
| Q2 25 | 7.2% | 3.5% | ||
| Q1 25 | 5.3% | 2.4% | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | 4.4% | 2.6% | ||
| Q2 24 | 3.9% | 3.9% |
现金转化率AMATMTSI
| Q1 26 | — | 0.88× | ||
| Q4 25 | 1.49× | 1.54× | ||
| Q3 25 | 1.48× | 1.65× | ||
| Q2 25 | 0.74× | 1.22× | ||
| Q1 25 | 0.78× | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 1.40× | 2.12× | ||
| Q2 24 | 0.81× | 2.46× |
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% |
MTSI
| Industrial Defense | $117.7M | 43% |
| Data Center | $85.8M | 32% |
| Telecom | $68.1M | 25% |
