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应用材料（AMAT）与诺斯罗普·格鲁曼（NOC）财务数据对比。点击上方公司名可切换其他公司
诺斯罗普·格鲁曼的季度营收约是应用材料的1.5倍（$9.9B vs $6.8B），应用材料净利率更高（27.9% vs 8.9%，领先19.0%），诺斯罗普·格鲁曼同比增速更快（4.4% vs -3.5%），应用材料自由现金流更多（$2.0B vs $-1.8B），过去两年应用材料的营收复合增速更高（0.7% vs -1.7%）
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。
诺斯罗普·格鲁曼是总部位于美国弗吉尼亚州西福尔斯彻奇的航空航天及防务企业，研发制造航空、防务、任务系统、航天领域的相关产品与系统，是美国联邦政府第五大承包商，获得的订单金额占美国联邦政府面向承包商总支出的2%以上。
AMAT vs NOC — 直观对比
营收规模更大
NOC
是对方的1.5倍
$6.8B
营收增速更快
NOC
高出7.8%
-3.5%
净利率更高
AMAT
高出19.0%
8.9%
自由现金流更多
AMAT
多$3.9B
$-1.8B
两年增速更快
AMAT
近两年复合增速
-1.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.8B | $9.9B |
| 净利润 | $1.9B | $875.0M |
| 毛利率 | 48.0% | — |
| 营业利润率 | 25.2% | 1.9% |
| 净利率 | 27.9% | 8.9% |
| 营收同比 | -3.5% | 4.4% |
| 净利润同比 | 9.6% | 81.9% |
| 每股收益（稀释后） | $2.36 | $6.14 |
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AMATNOC
| Q1 26 | — | $9.9B | ||
| Q4 25 | $6.8B | $11.7B | ||
| Q3 25 | $7.3B | $10.4B | ||
| Q2 25 | $7.1B | $10.4B | ||
| Q1 25 | $7.2B | $9.5B | ||
| Q4 24 | $7.0B | $10.7B | ||
| Q3 24 | $6.8B | $10.0B | ||
| Q2 24 | $6.6B | $10.2B |
净利润AMATNOC
| Q1 26 | — | $875.0M | ||
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | $1.8B | $1.1B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $1.2B | $481.0M | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $1.7B | $1.0B | ||
| Q2 24 | $1.7B | $940.0M |
毛利率AMATNOC
| Q1 26 | — | — | ||
| 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% | — |
营业利润率AMATNOC
| Q1 26 | — | 1.9% | ||
| Q4 25 | 25.2% | 10.9% | ||
| Q3 25 | 30.6% | 11.9% | ||
| Q2 25 | 30.5% | 13.8% | ||
| Q1 25 | 30.4% | 6.1% | ||
| Q4 24 | 29.0% | 10.2% | ||
| Q3 24 | 28.7% | 11.2% | ||
| Q2 24 | 28.8% | 10.7% |
净利率AMATNOC
| Q1 26 | — | 8.9% | ||
| Q4 25 | 27.9% | 12.2% | ||
| Q3 25 | 24.4% | 10.6% | ||
| Q2 25 | 30.1% | 11.3% | ||
| Q1 25 | 16.5% | 5.1% | ||
| Q4 24 | 24.6% | 11.8% | ||
| Q3 24 | 25.2% | 10.3% | ||
| Q2 24 | 25.9% | 9.2% |
每股收益（稀释后）AMATNOC
| Q1 26 | — | $6.14 | ||
| Q4 25 | $2.36 | $9.94 | ||
| Q3 25 | $2.22 | $7.67 | ||
| Q2 25 | $2.63 | $8.15 | ||
| Q1 25 | $1.45 | $3.32 | ||
| Q4 24 | $2.09 | $8.66 | ||
| Q3 24 | $2.05 | $7.00 | ||
| Q2 24 | $2.06 | $6.36 |
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 | $2.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $20.4B | $17.1B |
| 总资产 | $36.3B | $50.0B |
| 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AMATNOC
| Q1 26 | — | $2.1B | ||
| Q4 25 | $8.6B | $4.4B | ||
| Q3 25 | $7.0B | $2.0B | ||
| Q2 25 | $6.7B | $1.9B | ||
| Q1 25 | $8.2B | $1.7B | ||
| Q4 24 | $9.5B | $4.4B | ||
| Q3 24 | $9.1B | $3.3B | ||
| Q2 24 | $7.6B | $3.3B |
总债务AMATNOC
| Q1 26 | — | — | ||
| Q4 25 | — | $15.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $14.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AMATNOC
| Q1 26 | — | $17.1B | ||
| Q4 25 | $20.4B | $16.7B | ||
| Q3 25 | $19.5B | $16.0B | ||
| Q2 25 | $19.0B | $15.5B | ||
| Q1 25 | $18.6B | $15.0B | ||
| Q4 24 | $19.0B | $15.3B | ||
| Q3 24 | $18.8B | $14.7B | ||
| Q2 24 | $18.2B | $14.3B |
总资产AMATNOC
| Q1 26 | — | $50.0B | ||
| Q4 25 | $36.3B | $51.4B | ||
| Q3 25 | $34.2B | $49.3B | ||
| Q2 25 | $33.6B | $49.5B | ||
| Q1 25 | $33.3B | $48.5B | ||
| Q4 24 | $34.4B | $49.4B | ||
| Q3 24 | $33.6B | $48.3B | ||
| Q2 24 | $31.9B | $47.7B |
负债/权益比AMATNOC
| Q1 26 | — | — | ||
| Q4 25 | — | 0.91× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.96× | ||
| 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 | $-1.7B |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $-1.8B |
| 自由现金流率自由现金流/营收 | 30.0% | -18.4% |
| 资本支出强度资本支出/营收 | 11.5% | 1.7% |
| 现金转化率经营现金流/净利润 | 1.49× | -1.89× |
| 过去12个月自由现金流最近4个季度 | $5.7B | $3.3B |
8季度趋势，按日历期对齐
经营现金流AMATNOC
| Q1 26 | — | $-1.7B | ||
| Q4 25 | $2.8B | $3.9B | ||
| Q3 25 | $2.6B | $1.6B | ||
| Q2 25 | $1.6B | $868.0M | ||
| Q1 25 | $925.0M | $-1.6B | ||
| Q4 24 | $2.6B | $2.6B | ||
| Q3 24 | $2.4B | $1.1B | ||
| Q2 24 | $1.4B | $1.4B |
自由现金流AMATNOC
| Q1 26 | — | $-1.8B | ||
| Q4 25 | $2.0B | $3.2B | ||
| Q3 25 | $2.0B | $1.3B | ||
| Q2 25 | $1.1B | $637.0M | ||
| Q1 25 | $544.0M | $-1.8B | ||
| Q4 24 | $2.2B | $1.8B | ||
| Q3 24 | $2.1B | $730.0M | ||
| Q2 24 | $1.1B | $1.1B |
自由现金流率AMATNOC
| Q1 26 | — | -18.4% | ||
| Q4 25 | 30.0% | 27.6% | ||
| Q3 25 | 28.1% | 12.1% | ||
| Q2 25 | 14.9% | 6.2% | ||
| Q1 25 | 7.6% | -19.2% | ||
| Q4 24 | 30.8% | 16.5% | ||
| Q3 24 | 30.8% | 7.3% | ||
| Q2 24 | 17.1% | 10.8% |
资本支出强度AMATNOC
| Q1 26 | — | 1.7% | ||
| Q4 25 | 11.5% | 5.7% | ||
| Q3 25 | 8.0% | 2.9% | ||
| Q2 25 | 7.2% | 2.2% | ||
| Q1 25 | 5.3% | 2.7% | ||
| Q4 24 | 5.8% | 7.6% | ||
| Q3 24 | 4.4% | 3.6% | ||
| Q2 24 | 3.9% | 3.1% |
现金转化率AMATNOC
| Q1 26 | — | -1.89× | ||
| Q4 25 | 1.49× | 2.73× | ||
| Q3 25 | 1.48× | 1.42× | ||
| Q2 25 | 0.74× | 0.74× | ||
| Q1 25 | 0.78× | -3.25× | ||
| Q4 24 | 1.49× | 2.04× | ||
| Q3 24 | 1.40× | 1.06× | ||
| Q2 24 | 0.81× | 1.52× |
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% |
NOC
| Aeronautics Systems | $3.3B | 33% |
| Mission Systems | $2.9B | 29% |
| Space Systems | $2.5B | 25% |
| Other | $1.3B | 13% |
