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超威半导体（AMD）与阿波罗全球管理（APO）财务数据对比。点击上方公司名可切换其他公司
超威半导体的季度营收约是阿波罗全球管理的1.0倍（$10.3B vs $9.9B），超威半导体净利率更高（14.7% vs 6.9%，领先7.8%），阿波罗全球管理同比增速更快（86.7% vs 34.1%），过去两年超威半导体的营收复合增速更高（37.0% vs 18.4%）
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。
阿波罗全球管理是美国头部另类资产管理机构，截至2025年总资产管理规模达8400亿美元，业务涵盖3920亿美元的信贷类资产（含夹层资本、对冲基金、不良贷款、担保贷款凭证等）、990亿美元私募股权，以及462亿美元的地产、基建等实体资产，为全球客户提供专业资产管理服务。
AMD vs APO — 直观对比
营收规模更大
AMD
是对方的1.0倍
$9.9B
营收增速更快
APO
高出52.6%
34.1%
净利率更高
AMD
高出7.8%
6.9%
两年增速更快
AMD
近两年复合增速
18.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $9.9B |
| 净利润 | $1.5B | $684.0M |
| 毛利率 | 54.3% | — |
| 营业利润率 | 17.1% | 17.8% |
| 净利率 | 14.7% | 6.9% |
| 营收同比 | 34.1% | 86.7% |
| 净利润同比 | 213.5% | -54.0% |
| 每股收益（稀释后） | $0.92 | $1.09 |
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AMDAPO
| Q4 25 | $10.3B | $9.9B | ||
| Q3 25 | $9.2B | $9.8B | ||
| Q2 25 | $7.7B | $6.8B | ||
| Q1 25 | $7.4B | $5.5B | ||
| Q4 24 | $7.7B | $5.3B | ||
| Q3 24 | $6.8B | $7.8B | ||
| Q2 24 | $5.8B | $6.0B | ||
| Q1 24 | $5.5B | $7.0B |
净利润AMDAPO
| Q4 25 | $1.5B | $684.0M | ||
| Q3 25 | $1.2B | $1.7B | ||
| Q2 25 | $872.0M | $630.0M | ||
| Q1 25 | $709.0M | $442.0M | ||
| Q4 24 | $482.0M | $1.5B | ||
| Q3 24 | $771.0M | $811.0M | ||
| Q2 24 | $265.0M | $853.0M | ||
| Q1 24 | $123.0M | $1.4B |
毛利率AMDAPO
| Q4 25 | 54.3% | — | ||
| Q3 25 | 51.7% | — | ||
| Q2 25 | 39.8% | — | ||
| Q1 25 | 50.2% | — | ||
| Q4 24 | 50.7% | — | ||
| Q3 24 | 50.1% | — | ||
| Q2 24 | 49.1% | — | ||
| Q1 24 | 46.8% | — |
营业利润率AMDAPO
| Q4 25 | 17.1% | 17.8% | ||
| Q3 25 | 13.7% | 29.5% | ||
| Q2 25 | -1.7% | 12.4% | ||
| Q1 25 | 10.8% | 21.3% | ||
| Q4 24 | 11.4% | 32.6% | ||
| Q3 24 | 10.6% | 26.8% | ||
| Q2 24 | 4.6% | 23.9% | ||
| Q1 24 | 0.7% | 31.1% |
净利率AMDAPO
| Q4 25 | 14.7% | 6.9% | ||
| Q3 25 | 13.4% | 17.7% | ||
| Q2 25 | 11.3% | 9.2% | ||
| Q1 25 | 9.5% | 8.0% | ||
| Q4 24 | 6.3% | 28.1% | ||
| Q3 24 | 11.3% | 10.4% | ||
| Q2 24 | 4.5% | 14.2% | ||
| Q1 24 | 2.2% | 20.3% |
每股收益（稀释后）AMDAPO
| Q4 25 | $0.92 | $1.09 | ||
| Q3 25 | $0.75 | $2.78 | ||
| Q2 25 | $0.54 | $0.99 | ||
| Q1 25 | $0.44 | $0.68 | ||
| Q4 24 | $0.30 | $2.41 | ||
| Q3 24 | $0.47 | $1.29 | ||
| Q2 24 | $0.16 | $1.35 | ||
| Q1 24 | $0.07 | $2.28 |
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 | — |
| 总债务越低越好 | — | $13.4B |
| 股东权益账面价值 | $63.0B | $23.3B |
| 总资产 | $76.9B | $460.9B |
| 负债/权益比越低杠杆越低 | — | 0.57× |
8季度趋势，按日历期对齐
现金及短期投资AMDAPO
| Q4 25 | $10.6B | — | ||
| Q3 25 | $7.2B | — | ||
| Q2 25 | $5.9B | — | ||
| Q1 25 | $7.3B | — | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | $6.0B | — |
总债务AMDAPO
| Q4 25 | — | $13.4B | ||
| Q3 25 | — | $12.6B | ||
| Q2 25 | — | $12.1B | ||
| Q1 25 | — | $10.6B | ||
| Q4 24 | — | $10.6B | ||
| Q3 24 | — | $9.8B | ||
| Q2 24 | — | $9.8B | ||
| Q1 24 | — | $9.6B |
股东权益AMDAPO
| Q4 25 | $63.0B | $23.3B | ||
| Q3 25 | $60.8B | $23.1B | ||
| Q2 25 | $59.7B | $19.3B | ||
| Q1 25 | $57.9B | $18.0B | ||
| Q4 24 | $57.6B | $17.3B | ||
| Q3 24 | $57.0B | $17.9B | ||
| Q2 24 | $56.5B | $15.3B | ||
| Q1 24 | $56.2B | $14.8B |
总资产AMDAPO
| Q4 25 | $76.9B | $460.9B | ||
| Q3 25 | $76.9B | $449.5B | ||
| Q2 25 | $74.8B | $419.6B | ||
| Q1 25 | $71.5B | $395.0B | ||
| Q4 24 | $69.2B | $377.9B | ||
| Q3 24 | $69.6B | $368.7B | ||
| Q2 24 | $67.9B | $346.5B | ||
| Q1 24 | $67.9B | $334.1B |
负债/权益比AMDAPO
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.59× | ||
| Q4 24 | — | 0.61× | ||
| Q3 24 | — | 0.55× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.65× |
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 | $4.7B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | — |
| 自由现金流率自由现金流/营收 | 23.2% | — |
| 资本支出强度资本支出/营收 | 2.2% | — |
| 现金转化率经营现金流/净利润 | 1.72× | 6.83× |
| 过去12个月自由现金流最近4个季度 | $6.7B | — |
8季度趋势，按日历期对齐
经营现金流AMDAPO
| Q4 25 | $2.6B | $4.7B | ||
| Q3 25 | $2.2B | $303.0M | ||
| Q2 25 | $2.0B | $1.3B | ||
| Q1 25 | $939.0M | $1.0B | ||
| Q4 24 | $1.3B | $-4.0M | ||
| Q3 24 | $628.0M | $1.9B | ||
| Q2 24 | $593.0M | $1.3B | ||
| Q1 24 | $521.0M | $70.0M |
自由现金流AMDAPO
| Q4 25 | $2.4B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $727.0M | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $496.0M | — | ||
| Q2 24 | $439.0M | — | ||
| Q1 24 | $379.0M | — |
自由现金流率AMDAPO
| Q4 25 | 23.2% | — | ||
| Q3 25 | 20.6% | — | ||
| Q2 25 | 22.5% | — | ||
| Q1 25 | 9.8% | — | ||
| Q4 24 | 14.2% | — | ||
| Q3 24 | 7.3% | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 24 | 6.9% | — |
资本支出强度AMDAPO
| Q4 25 | 2.2% | — | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | 3.7% | — | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 2.6% | — | ||
| Q1 24 | 2.6% | — |
现金转化率AMDAPO
| Q4 25 | 1.72× | 6.83× | ||
| Q3 25 | 1.74× | 0.17× | ||
| Q2 25 | 2.31× | 2.00× | ||
| Q1 25 | 1.32× | 2.29× | ||
| Q4 24 | 2.70× | -0.00× | ||
| Q3 24 | 0.81× | 2.29× | ||
| Q2 24 | 2.24× | 1.56× | ||
| Q1 24 | 4.24× | 0.05× |
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% |
APO
| Retirement Services Segment | $8.5B | 86% |
| Asset Management1 | $681.0M | 7% |
| Principal Investing Segment | $624.0M | 6% |
| Management Service Incentive | $96.0M | 1% |
