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应用材料（AMAT）与史丹利百得（SWK）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史丹利百得的1.8倍（$6.8B vs $3.8B），应用材料净利率更高（27.9% vs 1.4%，领先26.5%），史丹利百得同比增速更快（0.1% vs -3.5%），应用材料自由现金流更多（$2.0B vs $155.3M），过去两年应用材料的营收复合增速更高（0.7% vs 0.3%）
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。
史丹利百得是美国知名的工业工具、家用五金产品制造商，同时提供安防类产品，前身为史丹利工具有限公司，由史丹利与百得于2010年3月12日合并而来，总部位于康涅狄格州大哈特福德地区的新不列颠市。
AMAT vs SWK — 直观对比
营收规模更大
AMAT
是对方的1.8倍
$3.8B
营收增速更快
SWK
高出3.6%
-3.5%
净利率更高
AMAT
高出26.5%
1.4%
自由现金流更多
AMAT
多$1.9B
$155.3M
两年增速更快
AMAT
近两年复合增速
0.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.8B | $3.8B |
| 净利润 | $1.9B | $51.4M |
| 毛利率 | 48.0% | 31.4% |
| 营业利润率 | 25.2% | — |
| 净利率 | 27.9% | 1.4% |
| 营收同比 | -3.5% | 0.1% |
| 净利润同比 | 9.6% | -43.6% |
| 每股收益（稀释后） | $2.36 | $0.34 |
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AMATSWK
| Q4 25 | $6.8B | — | ||
| Q3 25 | $7.3B | $3.8B | ||
| Q2 25 | $7.1B | $3.9B | ||
| Q1 25 | $7.2B | $3.7B | ||
| Q4 24 | $7.0B | $3.7B | ||
| Q3 24 | $6.8B | $3.8B | ||
| Q2 24 | $6.6B | $4.0B | ||
| Q1 24 | $6.7B | $3.9B |
净利润AMATSWK
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.8B | $51.4M | ||
| Q2 25 | $2.1B | $101.9M | ||
| Q1 25 | $1.2B | $90.4M | ||
| Q4 24 | $1.7B | $194.9M | ||
| Q3 24 | $1.7B | $91.1M | ||
| Q2 24 | $1.7B | $-11.2M | ||
| Q1 24 | $2.0B | $19.5M |
毛利率AMATSWK
| Q4 25 | 48.0% | — | ||
| Q3 25 | 48.8% | 31.4% | ||
| Q2 25 | 49.1% | 27.0% | ||
| Q1 25 | 48.8% | 29.9% | ||
| Q4 24 | 47.3% | 30.8% | ||
| Q3 24 | 47.3% | 29.9% | ||
| Q2 24 | 47.4% | 28.4% | ||
| Q1 24 | 47.8% | 28.6% |
营业利润率AMATSWK
| Q4 25 | 25.2% | — | ||
| Q3 25 | 30.6% | — | ||
| Q2 25 | 30.5% | — | ||
| Q1 25 | 30.4% | — | ||
| Q4 24 | 29.0% | 3.4% | ||
| Q3 24 | 28.7% | 10.6% | ||
| Q2 24 | 28.8% | 9.5% | ||
| Q1 24 | 29.3% | 8.3% |
净利率AMATSWK
| Q4 25 | 27.9% | — | ||
| Q3 25 | 24.4% | 1.4% | ||
| Q2 25 | 30.1% | 2.6% | ||
| Q1 25 | 16.5% | 2.4% | ||
| Q4 24 | 24.6% | 5.2% | ||
| Q3 24 | 25.2% | 2.4% | ||
| Q2 24 | 25.9% | -0.3% | ||
| Q1 24 | 30.1% | 0.5% |
每股收益（稀释后）AMATSWK
| Q4 25 | $2.36 | — | ||
| Q3 25 | $2.22 | $0.34 | ||
| Q2 25 | $2.63 | $0.67 | ||
| Q1 25 | $1.45 | $0.60 | ||
| Q4 24 | $2.09 | $1.29 | ||
| Q3 24 | $2.05 | $0.60 | ||
| Q2 24 | $2.06 | $-0.07 | ||
| Q1 24 | $2.41 | $0.13 |
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 | $268.3M |
| 总债务越低越好 | — | $5.3B |
| 股东权益账面价值 | $20.4B | $9.0B |
| 总资产 | $36.3B | $21.8B |
| 负债/权益比越低杠杆越低 | — | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资AMATSWK
| Q4 25 | $8.6B | — | ||
| Q3 25 | $7.0B | $268.3M | ||
| Q2 25 | $6.7B | $311.8M | ||
| Q1 25 | $8.2B | $344.8M | ||
| Q4 24 | $9.5B | $290.5M | ||
| Q3 24 | $9.1B | $298.7M | ||
| Q2 24 | $7.6B | $318.5M | ||
| Q1 24 | $7.5B | $476.6M |
总债务AMATSWK
| Q4 25 | — | — | ||
| Q3 25 | — | $5.3B | ||
| Q2 25 | — | $5.6B | ||
| Q1 25 | — | $5.6B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | — | $6.1B |
股东权益AMATSWK
| Q4 25 | $20.4B | — | ||
| Q3 25 | $19.5B | $9.0B | ||
| Q2 25 | $19.0B | $9.1B | ||
| Q1 25 | $18.6B | $8.8B | ||
| Q4 24 | $19.0B | $8.7B | ||
| Q3 24 | $18.8B | $8.9B | ||
| Q2 24 | $18.2B | $8.7B | ||
| Q1 24 | $17.4B | $8.9B |
总资产AMATSWK
| Q4 25 | $36.3B | — | ||
| Q3 25 | $34.2B | $21.8B | ||
| Q2 25 | $33.6B | $22.5B | ||
| Q1 25 | $33.3B | $22.5B | ||
| Q4 24 | $34.4B | $21.8B | ||
| Q3 24 | $33.6B | $22.5B | ||
| Q2 24 | $31.9B | $22.5B | ||
| Q1 24 | $31.5B | $23.9B |
负债/权益比AMATSWK
| Q4 25 | — | — | ||
| Q3 25 | — | 0.59× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.63× | ||
| Q4 24 | — | 0.70× | ||
| Q3 24 | — | 0.69× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.69× |
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 | $221.2M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $155.3M |
| 自由现金流率自由现金流/营收 | 30.0% | 4.1% |
| 资本支出强度资本支出/营收 | 11.5% | 1.8% |
| 现金转化率经营现金流/净利润 | 1.49× | 4.30× |
| 过去12个月自由现金流最近4个季度 | $5.7B | $369.6M |
8季度趋势，按日历期对齐
经营现金流AMATSWK
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.6B | $221.2M | ||
| Q2 25 | $1.6B | $214.3M | ||
| Q1 25 | $925.0M | $-420.0M | ||
| Q4 24 | $2.6B | $679.1M | ||
| Q3 24 | $2.4B | $285.8M | ||
| Q2 24 | $1.4B | $573.0M | ||
| Q1 24 | $2.3B | $-431.0M |
自由现金流AMATSWK
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.0B | $155.3M | ||
| Q2 25 | $1.1B | $134.7M | ||
| Q1 25 | $544.0M | $-485.0M | ||
| Q4 24 | $2.2B | $564.6M | ||
| Q3 24 | $2.1B | $199.3M | ||
| Q2 24 | $1.1B | $485.8M | ||
| Q1 24 | $2.1B | $-496.7M |
自由现金流率AMATSWK
| Q4 25 | 30.0% | — | ||
| Q3 25 | 28.1% | 4.1% | ||
| Q2 25 | 14.9% | 3.4% | ||
| Q1 25 | 7.6% | -13.0% | ||
| Q4 24 | 30.8% | 15.2% | ||
| Q3 24 | 30.8% | 5.3% | ||
| Q2 24 | 17.1% | 12.1% | ||
| Q1 24 | 31.3% | -12.8% |
资本支出强度AMATSWK
| Q4 25 | 11.5% | — | ||
| Q3 25 | 8.0% | 1.8% | ||
| Q2 25 | 7.2% | 2.0% | ||
| Q1 25 | 5.3% | 1.7% | ||
| Q4 24 | 5.8% | 3.1% | ||
| Q3 24 | 4.4% | 2.3% | ||
| Q2 24 | 3.9% | 2.2% | ||
| Q1 24 | 3.4% | 1.7% |
现金转化率AMATSWK
| Q4 25 | 1.49× | — | ||
| Q3 25 | 1.48× | 4.30× | ||
| Q2 25 | 0.74× | 2.10× | ||
| Q1 25 | 0.78× | -4.65× | ||
| Q4 24 | 1.49× | 3.48× | ||
| Q3 24 | 1.40× | 3.14× | ||
| Q2 24 | 0.81× | — | ||
| Q1 24 | 1.15× | -22.10× |
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% |
SWK
| Tools And Outdoor Segment | $3.3B | 87% |
| Engineered Fastening Segment | $500.5M | 13% |
