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应用材料（AMAT）与安森美半导体（ON）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安森美半导体的4.4倍（$6.8B vs $1.6B），应用材料净利率更高（27.9% vs 16.4%，领先11.5%），应用材料同比增速更快（-3.5% vs -10.0%），应用材料自由现金流更多（$2.0B vs $372.4M），过去两年应用材料的营收复合增速更高（0.7% vs -12.3%）
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。
安森美半导体旗下原仙童半导体是总部位于美国加利福尼亚州圣何塞的半导体企业，1957年由从肖克利半导体实验室离职的“八叛逆”创立，是晶体管和集成电路制造领域的先驱，曾历经多次股权变更，1997年再度独立运营后并入安森美。
AMAT vs ON — 直观对比
营收规模更大
AMAT
是对方的4.4倍
$1.6B
营收增速更快
AMAT
高出6.5%
-10.0%
净利率更高
AMAT
高出11.5%
16.4%
自由现金流更多
AMAT
多$1.7B
$372.4M
两年增速更快
AMAT
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.8B | $1.6B |
| 净利润 | $1.9B | $255.0M |
| 毛利率 | 48.0% | 37.9% |
| 营业利润率 | 25.2% | 17.0% |
| 净利率 | 27.9% | 16.4% |
| 营收同比 | -3.5% | -10.0% |
| 净利润同比 | 9.6% | -32.9% |
| 每股收益（稀释后） | $2.36 | $0.63 |
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AMATON
| Q4 25 | $6.8B | $1.6B | ||
| Q3 25 | $7.3B | $1.5B | ||
| Q2 25 | $7.1B | $1.4B | ||
| Q1 25 | $7.2B | — | ||
| Q4 24 | $7.0B | $1.7B | ||
| Q3 24 | $6.8B | $1.8B | ||
| Q2 24 | $6.6B | $1.7B | ||
| Q1 24 | $6.7B | $1.9B |
净利润AMATON
| Q4 25 | $1.9B | $255.0M | ||
| Q3 25 | $1.8B | $170.3M | ||
| Q2 25 | $2.1B | $-486.1M | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.7B | $379.9M | ||
| Q3 24 | $1.7B | $401.7M | ||
| Q2 24 | $1.7B | $338.2M | ||
| Q1 24 | $2.0B | $453.0M |
毛利率AMATON
| Q4 25 | 48.0% | 37.9% | ||
| Q3 25 | 48.8% | 37.6% | ||
| Q2 25 | 49.1% | 20.3% | ||
| Q1 25 | 48.8% | — | ||
| Q4 24 | 47.3% | 45.2% | ||
| Q3 24 | 47.3% | 45.4% | ||
| Q2 24 | 47.4% | 45.2% | ||
| Q1 24 | 47.8% | 45.8% |
营业利润率AMATON
| Q4 25 | 25.2% | 17.0% | ||
| Q3 25 | 30.6% | 13.2% | ||
| Q2 25 | 30.5% | -39.7% | ||
| Q1 25 | 30.4% | — | ||
| Q4 24 | 29.0% | 23.7% | ||
| Q3 24 | 28.7% | 25.3% | ||
| Q2 24 | 28.8% | 22.4% | ||
| Q1 24 | 29.3% | 28.2% |
净利率AMATON
| Q4 25 | 27.9% | 16.4% | ||
| Q3 25 | 24.4% | 11.6% | ||
| Q2 25 | 30.1% | -33.6% | ||
| Q1 25 | 16.5% | — | ||
| Q4 24 | 24.6% | 22.1% | ||
| Q3 24 | 25.2% | 22.8% | ||
| Q2 24 | 25.9% | 19.5% | ||
| Q1 24 | 30.1% | 24.3% |
每股收益（稀释后）AMATON
| Q4 25 | $2.36 | $0.63 | ||
| Q3 25 | $2.22 | $0.41 | ||
| Q2 25 | $2.63 | $-1.15 | ||
| Q1 25 | $1.45 | — | ||
| Q4 24 | $2.09 | $0.88 | ||
| Q3 24 | $2.05 | $0.93 | ||
| Q2 24 | $2.06 | $0.78 | ||
| Q1 24 | $2.41 | $1.04 |
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 | $2.9B |
| 总债务越低越好 | — | $3.4B |
| 股东权益账面价值 | $20.4B | $7.9B |
| 总资产 | $36.3B | $13.0B |
| 负债/权益比越低杠杆越低 | — | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资AMATON
| Q4 25 | $8.6B | $2.9B | ||
| Q3 25 | $7.0B | $2.8B | ||
| Q2 25 | $6.7B | $3.0B | ||
| Q1 25 | $8.2B | — | ||
| Q4 24 | $9.5B | $3.0B | ||
| Q3 24 | $9.1B | $2.8B | ||
| Q2 24 | $7.6B | $2.7B | ||
| Q1 24 | $7.5B | $2.6B |
总债务AMATON
| Q4 25 | — | $3.4B | ||
| Q3 25 | — | $3.4B | ||
| Q2 25 | — | $3.4B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | $3.4B | ||
| Q2 24 | — | $3.4B | ||
| Q1 24 | — | $3.4B |
股东权益AMATON
| Q4 25 | $20.4B | $7.9B | ||
| Q3 25 | $19.5B | $7.9B | ||
| Q2 25 | $19.0B | $8.0B | ||
| Q1 25 | $18.6B | — | ||
| Q4 24 | $19.0B | $8.8B | ||
| Q3 24 | $18.8B | $8.6B | ||
| Q2 24 | $18.2B | $8.3B | ||
| Q1 24 | $17.4B | $8.1B |
总资产AMATON
| Q4 25 | $36.3B | $13.0B | ||
| Q3 25 | $34.2B | $13.1B | ||
| Q2 25 | $33.6B | $13.3B | ||
| Q1 25 | $33.3B | — | ||
| Q4 24 | $34.4B | $14.1B | ||
| Q3 24 | $33.6B | $13.9B | ||
| Q2 24 | $31.9B | $13.7B | ||
| Q1 24 | $31.5B | $13.5B |
负债/权益比AMATON
| Q4 25 | — | 0.43× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.42× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.38× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | 0.41× | ||
| Q1 24 | — | 0.42× |
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 | $418.7M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $372.4M |
| 自由现金流率自由现金流/营收 | 30.0% | 24.0% |
| 资本支出强度资本支出/营收 | 11.5% | 3.0% |
| 现金转化率经营现金流/净利润 | 1.49× | 1.64× |
| 过去12个月自由现金流最近4个季度 | $5.7B | $1.4B |
8季度趋势，按日历期对齐
经营现金流AMATON
| Q4 25 | $2.8B | $418.7M | ||
| Q3 25 | $2.6B | $184.3M | ||
| Q2 25 | $1.6B | $602.3M | ||
| Q1 25 | $925.0M | — | ||
| Q4 24 | $2.6B | $579.7M | ||
| Q3 24 | $2.4B | $465.8M | ||
| Q2 24 | $1.4B | $362.2M | ||
| Q1 24 | $2.3B | $498.7M |
自由现金流AMATON
| Q4 25 | $2.0B | $372.4M | ||
| Q3 25 | $2.0B | $106.1M | ||
| Q2 25 | $1.1B | $454.7M | ||
| Q1 25 | $544.0M | — | ||
| Q4 24 | $2.2B | $434.8M | ||
| Q3 24 | $2.1B | $293.6M | ||
| Q2 24 | $1.1B | $207.7M | ||
| Q1 24 | $2.1B | $276.3M |
自由现金流率AMATON
| Q4 25 | 30.0% | 24.0% | ||
| Q3 25 | 28.1% | 7.2% | ||
| Q2 25 | 14.9% | 31.5% | ||
| Q1 25 | 7.6% | — | ||
| Q4 24 | 30.8% | 25.2% | ||
| Q3 24 | 30.8% | 16.7% | ||
| Q2 24 | 17.1% | 12.0% | ||
| Q1 24 | 31.3% | 14.8% |
资本支出强度AMATON
| Q4 25 | 11.5% | 3.0% | ||
| Q3 25 | 8.0% | 5.3% | ||
| Q2 25 | 7.2% | 10.2% | ||
| Q1 25 | 5.3% | — | ||
| Q4 24 | 5.8% | 8.4% | ||
| Q3 24 | 4.4% | 9.8% | ||
| Q2 24 | 3.9% | 8.9% | ||
| Q1 24 | 3.4% | 11.9% |
现金转化率AMATON
| Q4 25 | 1.49× | 1.64× | ||
| Q3 25 | 1.48× | 1.08× | ||
| Q2 25 | 0.74× | — | ||
| Q1 25 | 0.78× | — | ||
| Q4 24 | 1.49× | 1.53× | ||
| Q3 24 | 1.40× | 1.16× | ||
| Q2 24 | 0.81× | 1.07× | ||
| Q1 24 | 1.15× | 1.10× |
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% |
ON
| Industrial Segment | $426.3M | 27% |
| Other End Markets Segment | $337.3M | 22% |
| Intelligent Sensing Segments | $284.0M | 18% |
| Direct Customers | $282.4M | 18% |
| Intelligent Sensing Group | $230.0M | 15% |
