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应用材料（AMAT）与特灵科技（TT）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特灵科技的1.3倍（$6.8B vs $5.1B），应用材料净利率更高（27.9% vs 11.5%，领先16.4%），特灵科技同比增速更快（5.5% vs -3.5%），过去两年特灵科技的营收复合增速更高（10.5% 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。
特灵科技是一家注册地位于爱尔兰的企业，核心业务覆盖采暖、通风、空调及制冷系统领域。品牌历史可追溯至150多年前，历经多次并购与分拆：2008年暖通空调厂商特灵被美国工业工具制造商英格索兰收购，2020年工具业务分拆独立为英格索兰，剩余业务正式更名特灵科技。
AMAT vs TT — 直观对比
营收规模更大
AMAT
是对方的1.3倍
$5.1B
营收增速更快
TT
高出9.0%
-3.5%
净利率更高
AMAT
高出16.4%
11.5%
两年增速更快
TT
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.8B | $5.1B |
| 净利润 | $1.9B | $591.3M |
| 毛利率 | 48.0% | — |
| 营业利润率 | 25.2% | 15.9% |
| 净利率 | 27.9% | 11.5% |
| 营收同比 | -3.5% | 5.5% |
| 净利润同比 | 9.6% | -2.2% |
| 每股收益（稀释后） | $2.36 | $2.64 |
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AMATTT
| Q4 25 | $6.8B | $5.1B | ||
| Q3 25 | $7.3B | $5.7B | ||
| Q2 25 | $7.1B | $5.7B | ||
| Q1 25 | $7.2B | $4.7B | ||
| Q4 24 | $7.0B | $4.9B | ||
| Q3 24 | $6.8B | $5.4B | ||
| Q2 24 | $6.6B | $5.3B | ||
| Q1 24 | $6.7B | $4.2B |
净利润AMATTT
| Q4 25 | $1.9B | $591.3M | ||
| Q3 25 | $1.8B | $847.6M | ||
| Q2 25 | $2.1B | $874.8M | ||
| Q1 25 | $1.2B | $604.9M | ||
| Q4 24 | $1.7B | $604.3M | ||
| Q3 24 | $1.7B | $772.0M | ||
| Q2 24 | $1.7B | $755.3M | ||
| Q1 24 | $2.0B | $436.3M |
毛利率AMATTT
| Q4 25 | 48.0% | — | ||
| Q3 25 | 48.8% | 36.9% | ||
| Q2 25 | 49.1% | 37.6% | ||
| Q1 25 | 48.8% | 35.8% | ||
| Q4 24 | 47.3% | — | ||
| Q3 24 | 47.3% | 36.3% | ||
| Q2 24 | 47.4% | 36.5% | ||
| Q1 24 | 47.8% | 34.6% |
营业利润率AMATTT
| Q4 25 | 25.2% | 15.9% | ||
| Q3 25 | 30.6% | 20.3% | ||
| Q2 25 | 30.5% | 20.3% | ||
| Q1 25 | 30.4% | 17.5% | ||
| Q4 24 | 29.0% | 16.6% | ||
| Q3 24 | 28.7% | 18.8% | ||
| Q2 24 | 28.8% | 19.5% | ||
| Q1 24 | 29.3% | 15.0% |
净利率AMATTT
| Q4 25 | 27.9% | 11.5% | ||
| Q3 25 | 24.4% | 14.8% | ||
| Q2 25 | 30.1% | 15.2% | ||
| Q1 25 | 16.5% | 12.9% | ||
| Q4 24 | 24.6% | 12.4% | ||
| Q3 24 | 25.2% | 14.2% | ||
| Q2 24 | 25.9% | 14.2% | ||
| Q1 24 | 30.1% | 10.3% |
每股收益（稀释后）AMATTT
| Q4 25 | $2.36 | $2.64 | ||
| Q3 25 | $2.22 | $3.78 | ||
| Q2 25 | $2.63 | $3.89 | ||
| Q1 25 | $1.45 | $2.67 | ||
| Q4 24 | $2.09 | $2.65 | ||
| Q3 24 | $2.05 | $3.39 | ||
| Q2 24 | $2.06 | $3.30 | ||
| Q1 24 | $2.41 | $1.90 |
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 | $1.8B |
| 总债务越低越好 | — | $4.6B |
| 股东权益账面价值 | $20.4B | $8.6B |
| 总资产 | $36.3B | $21.4B |
| 负债/权益比越低杠杆越低 | — | 0.54× |
8季度趋势，按日历期对齐
现金及短期投资AMATTT
| Q4 25 | $8.6B | $1.8B | ||
| Q3 25 | $7.0B | — | ||
| Q2 25 | $6.7B | — | ||
| Q1 25 | $8.2B | — | ||
| Q4 24 | $9.5B | $1.6B | ||
| Q3 24 | $9.1B | — | ||
| Q2 24 | $7.6B | — | ||
| Q1 24 | $7.5B | — |
总债务AMATTT
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $4.8B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AMATTT
| Q4 25 | $20.4B | $8.6B | ||
| Q3 25 | $19.5B | $8.3B | ||
| Q2 25 | $19.0B | $7.8B | ||
| Q1 25 | $18.6B | $7.5B | ||
| Q4 24 | $19.0B | $7.5B | ||
| Q3 24 | $18.8B | $7.6B | ||
| Q2 24 | $18.2B | $6.9B | ||
| Q1 24 | $17.4B | $6.9B |
总资产AMATTT
| Q4 25 | $36.3B | $21.4B | ||
| Q3 25 | $34.2B | $21.4B | ||
| Q2 25 | $33.6B | $21.0B | ||
| Q1 25 | $33.3B | $20.1B | ||
| Q4 24 | $34.4B | $20.1B | ||
| Q3 24 | $33.6B | $20.9B | ||
| Q2 24 | $31.9B | $20.2B | ||
| Q1 24 | $31.5B | $19.3B |
负债/权益比AMATTT
| Q4 25 | — | 0.54× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.64× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $1.2B |
| 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× | 1.96× |
| 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AMATTT
| Q4 25 | $2.8B | $1.2B | ||
| Q3 25 | $2.6B | $1.0B | ||
| Q2 25 | $1.6B | $692.1M | ||
| Q1 25 | $925.0M | $339.5M | ||
| Q4 24 | $2.6B | $899.9M | ||
| Q3 24 | $2.4B | $1.3B | ||
| Q2 24 | $1.4B | $695.9M | ||
| Q1 24 | $2.3B | $247.2M |
自由现金流AMATTT
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.0B | $935.6M | ||
| Q2 25 | $1.1B | $602.2M | ||
| Q1 25 | $544.0M | $220.6M | ||
| Q4 24 | $2.2B | $774.3M | ||
| Q3 24 | $2.1B | $1.2B | ||
| Q2 24 | $1.1B | $623.0M | ||
| Q1 24 | $2.1B | $163.4M |
自由现金流率AMATTT
| Q4 25 | 30.0% | — | ||
| Q3 25 | 28.1% | 16.3% | ||
| Q2 25 | 14.9% | 10.5% | ||
| Q1 25 | 7.6% | 4.7% | ||
| Q4 24 | 30.8% | 15.9% | ||
| Q3 24 | 30.8% | 22.3% | ||
| Q2 24 | 17.1% | 11.7% | ||
| Q1 24 | 31.3% | 3.9% |
资本支出强度AMATTT
| Q4 25 | 11.5% | — | ||
| Q3 25 | 8.0% | 1.2% | ||
| Q2 25 | 7.2% | 1.6% | ||
| Q1 25 | 5.3% | 2.5% | ||
| Q4 24 | 5.8% | 2.6% | ||
| Q3 24 | 4.4% | 1.6% | ||
| Q2 24 | 3.9% | 1.4% | ||
| Q1 24 | 3.4% | 2.0% |
现金转化率AMATTT
| Q4 25 | 1.49× | 1.96× | ||
| Q3 25 | 1.48× | 1.18× | ||
| Q2 25 | 0.74× | 0.79× | ||
| Q1 25 | 0.78× | 0.56× | ||
| Q4 24 | 1.49× | 1.49× | ||
| Q3 24 | 1.40× | 1.69× | ||
| Q2 24 | 0.81× | 0.92× | ||
| Q1 24 | 1.15× | 0.57× |
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% |
TT
| Services | $2.8B | 55% |
| Other | $2.3B | 45% |
