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应用材料（AMAT）与PG&E Corporation（PCG）财务数据对比。点击上方公司名可切换其他公司
PG&E Corporation的季度营收约是应用材料的1.0倍（$6.9B vs $6.8B），应用材料净利率更高（27.9% vs 12.9%，领先15.0%），PG&E Corporation同比增速更快（15.0% vs -3.5%），过去两年PG&E Corporation的营收复合增速更高（7.2% 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。
PG&E Corporation是美国由投资者持有运营的公用事业企业，总部坐落于加利福尼亚州奥克兰市凯撒中心，为加州北部三分之二区域的520万户家庭提供天然气与电力供应服务，服务范围涵盖贝克斯菲尔德、圣巴巴拉县北部，几乎延伸至俄勒冈州与内华达州的州界。
AMAT vs PCG — 直观对比
营收规模更大
PCG
是对方的1.0倍
$6.8B
营收增速更快
PCG
高出18.5%
-3.5%
净利率更高
AMAT
高出15.0%
12.9%
两年增速更快
PCG
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.8B | $6.9B |
| 净利润 | $1.9B | $885.0M |
| 毛利率 | 48.0% | — |
| 营业利润率 | 25.2% | 21.4% |
| 净利率 | 27.9% | 12.9% |
| 营收同比 | -3.5% | 15.0% |
| 净利润同比 | 9.6% | 39.6% |
| 每股收益（稀释后） | $2.36 | $0.39 |
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AMATPCG
| Q1 26 | — | $6.9B | ||
| Q4 25 | $6.8B | $6.8B | ||
| Q3 25 | $7.3B | $6.3B | ||
| Q2 25 | $7.1B | $5.9B | ||
| Q1 25 | $7.2B | $6.0B | ||
| Q4 24 | $7.0B | $6.6B | ||
| Q3 24 | $6.8B | $5.9B | ||
| Q2 24 | $6.6B | $6.0B |
净利润AMATPCG
| Q1 26 | — | $885.0M | ||
| Q4 25 | $1.9B | $670.0M | ||
| Q3 25 | $1.8B | $850.0M | ||
| Q2 25 | $2.1B | $549.0M | ||
| Q1 25 | $1.2B | $634.0M | ||
| Q4 24 | $1.7B | $674.0M | ||
| Q3 24 | $1.7B | $579.0M | ||
| Q2 24 | $1.7B | $524.0M |
毛利率AMATPCG
| 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AMATPCG
| Q1 26 | — | 21.4% | ||
| Q4 25 | 25.2% | 18.0% | ||
| Q3 25 | 30.6% | 19.3% | ||
| Q2 25 | 30.5% | 18.6% | ||
| Q1 25 | 30.4% | 20.4% | ||
| Q4 24 | 29.0% | 15.4% | ||
| Q3 24 | 28.7% | 17.3% | ||
| Q2 24 | 28.8% | 18.9% |
净利率AMATPCG
| Q1 26 | — | 12.9% | ||
| Q4 25 | 27.9% | 9.8% | ||
| Q3 25 | 24.4% | 13.6% | ||
| Q2 25 | 30.1% | 9.3% | ||
| Q1 25 | 16.5% | 10.6% | ||
| Q4 24 | 24.6% | 10.2% | ||
| Q3 24 | 25.2% | 9.7% | ||
| Q2 24 | 25.9% | 8.8% |
每股收益（稀释后）AMATPCG
| Q1 26 | — | $0.39 | ||
| Q4 25 | $2.36 | $0.29 | ||
| Q3 25 | $2.22 | $0.37 | ||
| Q2 25 | $2.63 | $0.24 | ||
| Q1 25 | $1.45 | $0.28 | ||
| Q4 24 | $2.09 | $0.30 | ||
| Q3 24 | $2.05 | $0.27 | ||
| Q2 24 | $2.06 | $0.24 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $20.4B | — |
| 总资产 | $36.3B | — |
| 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AMATPCG
| Q1 26 | — | — | ||
| Q4 25 | $8.6B | $713.0M | ||
| Q3 25 | $7.0B | $404.0M | ||
| Q2 25 | $6.7B | $494.0M | ||
| Q1 25 | $8.2B | $2.0B | ||
| Q4 24 | $9.5B | $940.0M | ||
| Q3 24 | $9.1B | $895.0M | ||
| Q2 24 | $7.6B | $1.3B |
总债务AMATPCG
| Q1 26 | — | — | ||
| Q4 25 | — | $57.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $53.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AMATPCG
| Q1 26 | — | — | ||
| Q4 25 | $20.4B | $32.5B | ||
| Q3 25 | $19.5B | $32.0B | ||
| Q2 25 | $19.0B | $31.2B | ||
| Q1 25 | $18.6B | $30.7B | ||
| Q4 24 | $19.0B | $30.1B | ||
| Q3 24 | $18.8B | $26.8B | ||
| Q2 24 | $18.2B | $26.3B |
总资产AMATPCG
| Q1 26 | — | — | ||
| Q4 25 | $36.3B | $141.6B | ||
| Q3 25 | $34.2B | $138.2B | ||
| Q2 25 | $33.6B | $136.4B | ||
| Q1 25 | $33.3B | $135.4B | ||
| Q4 24 | $34.4B | $133.7B | ||
| Q3 24 | $33.6B | $132.3B | ||
| Q2 24 | $31.9B | $130.8B |
负债/权益比AMATPCG
| Q1 26 | — | — | ||
| Q4 25 | — | 1.76× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.78× | ||
| 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 | — |
| 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× | — |
| 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AMATPCG
| Q1 26 | — | — | ||
| Q4 25 | $2.8B | $2.0B | ||
| Q3 25 | $2.6B | $2.9B | ||
| Q2 25 | $1.6B | $1.1B | ||
| Q1 25 | $925.0M | $2.8B | ||
| Q4 24 | $2.6B | $1.9B | ||
| Q3 24 | $2.4B | $3.1B | ||
| Q2 24 | $1.4B | $711.0M |
自由现金流AMATPCG
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $-1.2B | ||
| Q3 25 | $2.0B | $-80.0M | ||
| Q2 25 | $1.1B | $-2.0B | ||
| Q1 25 | $544.0M | $213.0M | ||
| Q4 24 | $2.2B | $-896.0M | ||
| Q3 24 | $2.1B | $526.0M | ||
| Q2 24 | $1.1B | $-1.6B |
自由现金流率AMATPCG
| Q1 26 | — | — | ||
| Q4 25 | 30.0% | -17.6% | ||
| Q3 25 | 28.1% | -1.3% | ||
| Q2 25 | 14.9% | -34.0% | ||
| Q1 25 | 7.6% | 3.6% | ||
| Q4 24 | 30.8% | -13.5% | ||
| Q3 24 | 30.8% | 8.9% | ||
| Q2 24 | 17.1% | -26.5% |
资本支出强度AMATPCG
| Q1 26 | — | — | ||
| Q4 25 | 11.5% | 46.4% | ||
| Q3 25 | 8.0% | 46.9% | ||
| Q2 25 | 7.2% | 52.0% | ||
| Q1 25 | 5.3% | 44.0% | ||
| Q4 24 | 5.8% | 42.6% | ||
| Q3 24 | 4.4% | 43.8% | ||
| Q2 24 | 3.9% | 38.4% |
现金转化率AMATPCG
| Q1 26 | — | — | ||
| Q4 25 | 1.49× | 2.93× | ||
| Q3 25 | 1.48× | 3.35× | ||
| Q2 25 | 0.74× | 1.93× | ||
| Q1 25 | 0.78× | 4.49× | ||
| Q4 24 | 1.49× | 2.87× | ||
| Q3 24 | 1.40× | 5.41× | ||
| Q2 24 | 0.81× | 1.36× |
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% |
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
