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超威半导体（AMD）与亚马逊（AMZN）财务数据对比。点击上方公司名可切换其他公司
亚马逊的季度营收约是超威半导体的20.8倍（$213.4B vs $10.3B），超威半导体净利率更高（14.7% vs 9.9%，领先4.8%），超威半导体同比增速更快（34.1% vs 13.6%），亚马逊自由现金流更多（$14.9B vs $2.4B），过去两年超威半导体的营收复合增速更高（37.0% vs 22.0%）
超威半导体（AMD）是总部位于美国加利福尼亚州圣克拉拉的跨国半导体企业，专注研发生产面向数据中心、游戏、个人电脑、嵌入式系统的高性能CPU、GPU及自适应片上系统，旗下拥有锐龙、霄龙、镭龙、Instinct等核心产品线，2022年收购赛灵思后拓展了FPGA及自适应计算业务，直接与英特尔、英伟达展开竞争。
亚马逊是全球知名的综合电商与科技企业，业务覆盖北美及全球多个地区，设有北美零售、国际零售、亚马逊云科技（AWS）三大业务板块。除运营线上线下零售渠道、提供消费商品售卖与订阅服务外，也为第三方卖家提供销售平台，还自主研发销售Kindle、Fire平板等电子设备。
AMD vs AMZN — 直观对比
营收规模更大
AMZN
是对方的20.8倍
$10.3B
营收增速更快
AMD
高出20.5%
13.6%
净利率更高
AMD
高出4.8%
9.9%
自由现金流更多
AMZN
多$12.6B
$2.4B
两年增速更快
AMD
近两年复合增速
22.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $213.4B |
| 净利润 | $1.5B | $21.2B |
| 毛利率 | 54.3% | 48.5% |
| 营业利润率 | 17.1% | 11.7% |
| 净利率 | 14.7% | 9.9% |
| 营收同比 | 34.1% | 13.6% |
| 净利润同比 | 213.5% | 5.9% |
| 每股收益（稀释后） | $0.92 | $1.95 |
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AMDAMZN
| Q4 25 | $10.3B | $213.4B | ||
| Q3 25 | $9.2B | $180.2B | ||
| Q2 25 | $7.7B | $167.7B | ||
| Q1 25 | $7.4B | $155.7B | ||
| Q4 24 | $7.7B | $187.8B | ||
| Q3 24 | $6.8B | $158.9B | ||
| Q2 24 | $5.8B | $148.0B | ||
| Q1 24 | $5.5B | $143.3B |
净利润AMDAMZN
| Q4 25 | $1.5B | $21.2B | ||
| Q3 25 | $1.2B | $21.2B | ||
| Q2 25 | $872.0M | $18.2B | ||
| Q1 25 | $709.0M | $17.1B | ||
| Q4 24 | $482.0M | $20.0B | ||
| Q3 24 | $771.0M | $15.3B | ||
| Q2 24 | $265.0M | $13.5B | ||
| Q1 24 | $123.0M | $10.4B |
毛利率AMDAMZN
| Q4 25 | 54.3% | 48.5% | ||
| Q3 25 | 51.7% | 50.8% | ||
| Q2 25 | 39.8% | 51.8% | ||
| Q1 25 | 50.2% | 50.6% | ||
| Q4 24 | 50.7% | 47.3% | ||
| Q3 24 | 50.1% | 49.0% | ||
| Q2 24 | 49.1% | 50.1% | ||
| Q1 24 | 46.8% | 49.3% |
营业利润率AMDAMZN
| Q4 25 | 17.1% | 11.7% | ||
| Q3 25 | 13.7% | 9.7% | ||
| Q2 25 | -1.7% | 11.4% | ||
| Q1 25 | 10.8% | 11.8% | ||
| Q4 24 | 11.4% | 11.3% | ||
| Q3 24 | 10.6% | 11.0% | ||
| Q2 24 | 4.6% | 9.9% | ||
| Q1 24 | 0.7% | 10.7% |
净利率AMDAMZN
| Q4 25 | 14.7% | 9.9% | ||
| Q3 25 | 13.4% | 11.8% | ||
| Q2 25 | 11.3% | 10.8% | ||
| Q1 25 | 9.5% | 11.0% | ||
| Q4 24 | 6.3% | 10.7% | ||
| Q3 24 | 11.3% | 9.6% | ||
| Q2 24 | 4.5% | 9.1% | ||
| Q1 24 | 2.2% | 7.3% |
每股收益（稀释后）AMDAMZN
| Q4 25 | $0.92 | $1.95 | ||
| Q3 25 | $0.75 | $1.95 | ||
| Q2 25 | $0.54 | $1.68 | ||
| Q1 25 | $0.44 | $1.59 | ||
| Q4 24 | $0.30 | $1.86 | ||
| Q3 24 | $0.47 | $1.43 | ||
| Q2 24 | $0.16 | $1.26 | ||
| Q1 24 | $0.07 | $0.98 |
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 | $10.6B | $123.0B |
| 总债务越低越好 | — | $68.8B |
| 股东权益账面价值 | $63.0B | $411.1B |
| 总资产 | $76.9B | $818.0B |
| 负债/权益比越低杠杆越低 | — | 0.17× |
8季度趋势，按日历期对齐
现金及短期投资AMDAMZN
| Q4 25 | $10.6B | $123.0B | ||
| Q3 25 | $7.2B | $94.2B | ||
| Q2 25 | $5.9B | $93.2B | ||
| Q1 25 | $7.3B | $94.6B | ||
| Q4 24 | $5.1B | $101.2B | ||
| Q3 24 | $4.5B | $88.1B | ||
| Q2 24 | $5.3B | $89.1B | ||
| Q1 24 | $6.0B | $85.1B |
总债务AMDAMZN
| Q4 25 | — | $68.8B | ||
| Q3 25 | — | $55.1B | ||
| Q2 25 | — | $56.1B | ||
| Q1 25 | — | $58.8B | ||
| Q4 24 | — | $58.0B | ||
| Q3 24 | — | $60.5B | ||
| Q2 24 | — | $62.7B | ||
| Q1 24 | — | $66.9B |
股东权益AMDAMZN
| Q4 25 | $63.0B | $411.1B | ||
| Q3 25 | $60.8B | $369.6B | ||
| Q2 25 | $59.7B | $333.8B | ||
| Q1 25 | $57.9B | $305.9B | ||
| Q4 24 | $57.6B | $286.0B | ||
| Q3 24 | $57.0B | $259.2B | ||
| Q2 24 | $56.5B | $236.4B | ||
| Q1 24 | $56.2B | $216.7B |
总资产AMDAMZN
| Q4 25 | $76.9B | $818.0B | ||
| Q3 25 | $76.9B | $727.9B | ||
| Q2 25 | $74.8B | $682.2B | ||
| Q1 25 | $71.5B | $643.3B | ||
| Q4 24 | $69.2B | $624.9B | ||
| Q3 24 | $69.6B | $584.6B | ||
| Q2 24 | $67.9B | $554.8B | ||
| Q1 24 | $67.9B | $531.0B |
负债/权益比AMDAMZN
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 0.20× | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | — | 0.27× | ||
| Q1 24 | — | 0.31× |
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 | $2.6B | $54.5B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $14.9B |
| 自由现金流率自由现金流/营收 | 23.2% | 7.0% |
| 资本支出强度资本支出/营收 | 2.2% | 18.5% |
| 现金转化率经营现金流/净利润 | 1.72× | 2.57× |
| 过去12个月自由现金流最近4个季度 | $6.7B | $7.7B |
8季度趋势，按日历期对齐
经营现金流AMDAMZN
| Q4 25 | $2.6B | $54.5B | ||
| Q3 25 | $2.2B | $35.5B | ||
| Q2 25 | $2.0B | $32.5B | ||
| Q1 25 | $939.0M | $17.0B | ||
| Q4 24 | $1.3B | $45.6B | ||
| Q3 24 | $628.0M | $26.0B | ||
| Q2 24 | $593.0M | $25.3B | ||
| Q1 24 | $521.0M | $19.0B |
自由现金流AMDAMZN
| Q4 25 | $2.4B | $14.9B | ||
| Q3 25 | $1.9B | $430.0M | ||
| Q2 25 | $1.7B | $332.0M | ||
| Q1 25 | $727.0M | $-8.0B | ||
| Q4 24 | $1.1B | $17.8B | ||
| Q3 24 | $496.0M | $3.4B | ||
| Q2 24 | $439.0M | $7.7B | ||
| Q1 24 | $379.0M | $4.1B |
自由现金流率AMDAMZN
| Q4 25 | 23.2% | 7.0% | ||
| Q3 25 | 20.6% | 0.2% | ||
| Q2 25 | 22.5% | 0.2% | ||
| Q1 25 | 9.8% | -5.1% | ||
| Q4 24 | 14.2% | 9.5% | ||
| Q3 24 | 7.3% | 2.1% | ||
| Q2 24 | 7.5% | 5.2% | ||
| Q1 24 | 6.9% | 2.8% |
资本支出强度AMDAMZN
| Q4 25 | 2.2% | 18.5% | ||
| Q3 25 | 2.8% | 19.5% | ||
| Q2 25 | 3.7% | 19.2% | ||
| Q1 25 | 2.9% | 16.1% | ||
| Q4 24 | 2.7% | 14.8% | ||
| Q3 24 | 1.9% | 14.2% | ||
| Q2 24 | 2.6% | 11.9% | ||
| Q1 24 | 2.6% | 10.4% |
现金转化率AMDAMZN
| Q4 25 | 1.72× | 2.57× | ||
| Q3 25 | 1.74× | 1.68× | ||
| Q2 25 | 2.31× | 1.79× | ||
| Q1 25 | 1.32× | 0.99× | ||
| Q4 24 | 2.70× | 2.28× | ||
| Q3 24 | 0.81× | 1.69× | ||
| Q2 24 | 2.24× | 1.87× | ||
| Q1 24 | 4.24× | 1.82× |
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
AMD
| Other | $5.4B | 52% |
| Client | $3.1B | 30% |
| Embedded | $950.0M | 9% |
| Gaming | $843.0M | 8% |
AMZN
| Products | $90.0B | 42% |
| Third Party Seller Services | $52.8B | 25% |
| Other | $49.9B | 23% |
| Subscription Services | $13.1B | 6% |
| Physical Stores | $5.9B | 3% |
| Other Services | $1.7B | 1% |
