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应用材料（AMAT）与RELIANCE, INC.（RS）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RELIANCE, INC.的1.9倍（$6.8B vs $3.5B），应用材料净利率更高（27.9% vs 3.3%，领先24.6%），RELIANCE, INC.同比增速更快（11.9% vs -3.5%），应用材料自由现金流更多（$2.0B vs $202.9M），过去两年应用材料的营收复合增速更高（0.7% vs -2.0%）
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。
Reliance, Inc.总部位于美国亚利桑那州斯科茨代尔，是北美规模最大的金属服务中心运营商。公司为12.5万家制造商、加工厂等客户提供金属加工服务，经销铝、黄铜、合金、铜、碳钢、不锈钢、钛等约10万种金属及特种金属产品。
AMAT vs RS — 直观对比
营收规模更大
AMAT
是对方的1.9倍
$3.5B
营收增速更快
RS
高出15.4%
-3.5%
净利率更高
AMAT
高出24.6%
3.3%
自由现金流更多
AMAT
多$1.8B
$202.9M
两年增速更快
AMAT
近两年复合增速
-2.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.8B | $3.5B |
| 净利润 | $1.9B | $116.9M |
| 毛利率 | 48.0% | — |
| 营业利润率 | 25.2% | 4.8% |
| 净利率 | 27.9% | 3.3% |
| 营收同比 | -3.5% | 11.9% |
| 净利润同比 | 9.6% | 10.3% |
| 每股收益（稀释后） | $2.36 | $2.23 |
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AMATRS
| Q4 25 | $6.8B | $3.5B | ||
| Q3 25 | $7.3B | $3.7B | ||
| Q2 25 | $7.1B | $3.7B | ||
| Q1 25 | $7.2B | $3.5B | ||
| Q4 24 | $7.0B | $3.1B | ||
| Q3 24 | $6.8B | $3.4B | ||
| Q2 24 | $6.6B | $3.6B | ||
| Q1 24 | $6.7B | $3.6B |
净利润AMATRS
| Q4 25 | $1.9B | $116.9M | ||
| Q3 25 | $1.8B | $189.5M | ||
| Q2 25 | $2.1B | $234.2M | ||
| Q1 25 | $1.2B | $200.5M | ||
| Q4 24 | $1.7B | $106.0M | ||
| Q3 24 | $1.7B | $199.2M | ||
| Q2 24 | $1.7B | $268.3M | ||
| Q1 24 | $2.0B | $303.8M |
毛利率AMATRS
| 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% | — | ||
| Q1 24 | 47.8% | — |
营业利润率AMATRS
| Q4 25 | 25.2% | 4.8% | ||
| Q3 25 | 30.6% | 7.1% | ||
| Q2 25 | 30.5% | 8.5% | ||
| Q1 25 | 30.4% | 7.9% | ||
| Q4 24 | 29.0% | 4.5% | ||
| Q3 24 | 28.7% | 8.0% | ||
| Q2 24 | 28.8% | 9.7% | ||
| Q1 24 | 29.3% | 10.8% |
净利率AMATRS
| Q4 25 | 27.9% | 3.3% | ||
| Q3 25 | 24.4% | 5.2% | ||
| Q2 25 | 30.1% | 6.4% | ||
| Q1 25 | 16.5% | 5.8% | ||
| Q4 24 | 24.6% | 3.4% | ||
| Q3 24 | 25.2% | 5.8% | ||
| Q2 24 | 25.9% | 7.4% | ||
| Q1 24 | 30.1% | 8.3% |
每股收益（稀释后）AMATRS
| Q4 25 | $2.36 | $2.23 | ||
| Q3 25 | $2.22 | $3.59 | ||
| Q2 25 | $2.63 | $4.42 | ||
| Q1 25 | $1.45 | $3.74 | ||
| Q4 24 | $2.09 | $2.05 | ||
| Q3 24 | $2.05 | $3.61 | ||
| Q2 24 | $2.06 | $4.67 | ||
| Q1 24 | $2.41 | $5.23 |
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 | $216.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $20.4B | $7.2B |
| 总资产 | $36.3B | $10.4B |
| 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AMATRS
| Q4 25 | $8.6B | $216.6M | ||
| Q3 25 | $7.0B | $261.2M | ||
| Q2 25 | $6.7B | $239.5M | ||
| Q1 25 | $8.2B | $277.8M | ||
| Q4 24 | $9.5B | $318.1M | ||
| Q3 24 | $9.1B | $314.6M | ||
| Q2 24 | $7.6B | $350.8M | ||
| Q1 24 | $7.5B | $934.9M |
股东权益AMATRS
| Q4 25 | $20.4B | $7.2B | ||
| Q3 25 | $19.5B | $7.3B | ||
| Q2 25 | $19.0B | $7.2B | ||
| Q1 25 | $18.6B | $7.1B | ||
| Q4 24 | $19.0B | $7.2B | ||
| Q3 24 | $18.8B | $7.4B | ||
| Q2 24 | $18.2B | $7.6B | ||
| Q1 24 | $17.4B | $7.9B |
总资产AMATRS
| Q4 25 | $36.3B | $10.4B | ||
| Q3 25 | $34.2B | $10.5B | ||
| Q2 25 | $33.6B | $10.5B | ||
| Q1 25 | $33.3B | $10.4B | ||
| Q4 24 | $34.4B | $10.0B | ||
| Q3 24 | $33.6B | $10.3B | ||
| Q2 24 | $31.9B | $10.4B | ||
| Q1 24 | $31.5B | $10.7B |
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 | $276.1M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $202.9M |
| 自由现金流率自由现金流/营收 | 30.0% | 5.8% |
| 资本支出强度资本支出/营收 | 11.5% | 2.1% |
| 现金转化率经营现金流/净利润 | 1.49× | 2.36× |
| 过去12个月自由现金流最近4个季度 | $5.7B | $502.5M |
8季度趋势，按日历期对齐
经营现金流AMATRS
| Q4 25 | $2.8B | $276.1M | ||
| Q3 25 | $2.6B | $261.8M | ||
| Q2 25 | $1.6B | $229.0M | ||
| Q1 25 | $925.0M | $64.5M | ||
| Q4 24 | $2.6B | $473.3M | ||
| Q3 24 | $2.4B | $463.9M | ||
| Q2 24 | $1.4B | $366.3M | ||
| Q1 24 | $2.3B | $126.3M |
自由现金流AMATRS
| Q4 25 | $2.0B | $202.9M | ||
| Q3 25 | $2.0B | $180.6M | ||
| Q2 25 | $1.1B | $141.4M | ||
| Q1 25 | $544.0M | $-22.4M | ||
| Q4 24 | $2.2B | $362.4M | ||
| Q3 24 | $2.1B | $351.1M | ||
| Q2 24 | $1.1B | $268.1M | ||
| Q1 24 | $2.1B | $17.6M |
自由现金流率AMATRS
| Q4 25 | 30.0% | 5.8% | ||
| Q3 25 | 28.1% | 4.9% | ||
| Q2 25 | 14.9% | 3.9% | ||
| Q1 25 | 7.6% | -0.6% | ||
| Q4 24 | 30.8% | 11.6% | ||
| Q3 24 | 30.8% | 10.3% | ||
| Q2 24 | 17.1% | 7.4% | ||
| Q1 24 | 31.3% | 0.5% |
资本支出强度AMATRS
| Q4 25 | 11.5% | 2.1% | ||
| Q3 25 | 8.0% | 2.2% | ||
| Q2 25 | 7.2% | 2.4% | ||
| Q1 25 | 5.3% | 2.5% | ||
| Q4 24 | 5.8% | 3.5% | ||
| Q3 24 | 4.4% | 3.3% | ||
| Q2 24 | 3.9% | 2.7% | ||
| Q1 24 | 3.4% | 3.0% |
现金转化率AMATRS
| Q4 25 | 1.49× | 2.36× | ||
| Q3 25 | 1.48× | 1.38× | ||
| Q2 25 | 0.74× | 0.98× | ||
| Q1 25 | 0.78× | 0.32× | ||
| Q4 24 | 1.49× | 4.47× | ||
| Q3 24 | 1.40× | 2.33× | ||
| Q2 24 | 0.81× | 1.37× | ||
| Q1 24 | 1.15× | 0.42× |
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% |
RS
| Carbon Steel | $1.9B | 55% |
| Aluminum | $624.5M | 18% |
| Stainless Steel | $467.1M | 13% |
| Alloy Steel | $155.5M | 4% |
| Toll Processing | $155.3M | 4% |
| Copper And Brass | $93.5M | 3% |
| Other Products Or Services | $80.4M | 2% |
