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超威半导体（AMD）与百时美施贵宝（BMY）财务数据对比。点击上方公司名可切换其他公司
百时美施贵宝的季度营收约是超威半导体的1.2倍（$12.5B vs $10.3B），超威半导体净利率更高（14.7% vs 8.7%，领先6.0%），超威半导体同比增速更快（34.1% vs 1.3%），超威半导体自由现金流更多（$2.4B vs $1.6B），过去两年超威半导体的营收复合增速更高（37.0% vs 2.6%）
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。
百时美施贵宝是总部位于美国新泽西州普林斯顿的跨国制药企业，核心产品覆盖多个治疗领域：包括用于心房颤动治疗的艾乐妥（阿哌沙班）、抗癌药物欧狄沃（纳武利尤单抗）、治疗多发性骨髓瘤的瑞复美（来那度胺），以及用于类风湿性关节炎等自身免疫疾病的恩瑞舒（阿巴西普）。
AMD vs BMY — 直观对比
营收规模更大
BMY
是对方的1.2倍
$10.3B
营收增速更快
AMD
高出32.8%
1.3%
净利率更高
AMD
高出6.0%
8.7%
自由现金流更多
AMD
多$774.0M
$1.6B
两年增速更快
AMD
近两年复合增速
2.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $12.5B |
| 净利润 | $1.5B | $1.1B |
| 毛利率 | 54.3% | 67.2% |
| 营业利润率 | 17.1% | 11.8% |
| 净利率 | 14.7% | 8.7% |
| 营收同比 | 34.1% | 1.3% |
| 净利润同比 | 213.5% | 1409.7% |
| 每股收益（稀释后） | $0.92 | $0.54 |
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AMDBMY
| Q4 25 | $10.3B | $12.5B | ||
| Q3 25 | $9.2B | $12.2B | ||
| Q2 25 | $7.7B | $12.3B | ||
| Q1 25 | $7.4B | $11.2B | ||
| Q4 24 | $7.7B | $12.3B | ||
| Q3 24 | $6.8B | $11.9B | ||
| Q2 24 | $5.8B | $12.2B | ||
| Q1 24 | $5.5B | $11.9B |
净利润AMDBMY
| Q4 25 | $1.5B | $1.1B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $872.0M | $1.3B | ||
| Q1 25 | $709.0M | $2.5B | ||
| Q4 24 | $482.0M | $72.0M | ||
| Q3 24 | $771.0M | $1.2B | ||
| Q2 24 | $265.0M | $1.7B | ||
| Q1 24 | $123.0M | $-11.9B |
毛利率AMDBMY
| Q4 25 | 54.3% | 67.2% | ||
| Q3 25 | 51.7% | 71.9% | ||
| Q2 25 | 39.8% | 72.5% | ||
| Q1 25 | 50.2% | 72.9% | ||
| Q4 24 | 50.7% | 61.0% | ||
| Q3 24 | 50.1% | 75.1% | ||
| Q2 24 | 49.1% | 73.2% | ||
| Q1 24 | 46.8% | 75.3% |
营业利润率AMDBMY
| Q4 25 | 17.1% | 11.8% | ||
| Q3 25 | 13.7% | 25.5% | ||
| Q2 25 | -1.7% | 14.5% | ||
| Q1 25 | 10.8% | 26.5% | ||
| Q4 24 | 11.4% | 1.4% | ||
| Q3 24 | 10.6% | 14.1% | ||
| Q2 24 | 4.6% | 10.5% | ||
| Q1 24 | 0.7% | -97.1% |
净利率AMDBMY
| Q4 25 | 14.7% | 8.7% | ||
| Q3 25 | 13.4% | 18.0% | ||
| Q2 25 | 11.3% | 10.7% | ||
| Q1 25 | 9.5% | 21.9% | ||
| Q4 24 | 6.3% | 0.6% | ||
| Q3 24 | 11.3% | 10.2% | ||
| Q2 24 | 4.5% | 13.8% | ||
| Q1 24 | 2.2% | -100.4% |
每股收益（稀释后）AMDBMY
| Q4 25 | $0.92 | $0.54 | ||
| Q3 25 | $0.75 | $1.08 | ||
| Q2 25 | $0.54 | $0.64 | ||
| Q1 25 | $0.44 | $1.20 | ||
| Q4 24 | $0.30 | $0.05 | ||
| Q3 24 | $0.47 | $0.60 | ||
| Q2 24 | $0.16 | $0.83 | ||
| Q1 24 | $0.07 | $-5.89 |
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 | $10.2B |
| 总债务越低越好 | — | $44.8B |
| 股东权益账面价值 | $63.0B | $18.5B |
| 总资产 | $76.9B | $90.0B |
| 负债/权益比越低杠杆越低 | — | 2.43× |
8季度趋势，按日历期对齐
现金及短期投资AMDBMY
| Q4 25 | $10.6B | $10.2B | ||
| Q3 25 | $7.2B | $15.7B | ||
| Q2 25 | $5.9B | $12.6B | ||
| Q1 25 | $7.3B | $10.9B | ||
| Q4 24 | $5.1B | $10.3B | ||
| Q3 24 | $4.5B | $7.9B | ||
| Q2 24 | $5.3B | $6.3B | ||
| Q1 24 | $6.0B | $9.3B |
总债务AMDBMY
| Q4 25 | — | $44.8B | ||
| Q3 25 | — | $48.7B | ||
| Q2 25 | — | $48.9B | ||
| Q1 25 | — | $49.5B | ||
| Q4 24 | — | $49.4B | ||
| Q3 24 | — | $49.5B | ||
| Q2 24 | — | $52.0B | ||
| Q1 24 | — | $52.4B |
股东权益AMDBMY
| Q4 25 | $63.0B | $18.5B | ||
| Q3 25 | $60.8B | $18.6B | ||
| Q2 25 | $59.7B | $17.4B | ||
| Q1 25 | $57.9B | $17.4B | ||
| Q4 24 | $57.6B | $16.3B | ||
| Q3 24 | $57.0B | $17.1B | ||
| Q2 24 | $56.5B | $17.0B | ||
| Q1 24 | $56.2B | $16.5B |
总资产AMDBMY
| Q4 25 | $76.9B | $90.0B | ||
| Q3 25 | $76.9B | $96.9B | ||
| Q2 25 | $74.8B | $94.7B | ||
| Q1 25 | $71.5B | $92.4B | ||
| Q4 24 | $69.2B | $92.6B | ||
| Q3 24 | $69.6B | $93.7B | ||
| Q2 24 | $67.9B | $94.6B | ||
| Q1 24 | $67.9B | $99.0B |
负债/权益比AMDBMY
| Q4 25 | — | 2.43× | ||
| Q3 25 | — | 2.63× | ||
| Q2 25 | — | 2.81× | ||
| Q1 25 | — | 2.85× | ||
| Q4 24 | — | 3.03× | ||
| Q3 24 | — | 2.89× | ||
| Q2 24 | — | 3.05× | ||
| Q1 24 | — | 3.18× |
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 | $2.0B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $1.6B |
| 自由现金流率自由现金流/营收 | 23.2% | 12.8% |
| 资本支出强度资本支出/营收 | 2.2% | 3.0% |
| 现金转化率经营现金流/净利润 | 1.72× | 1.82× |
| 过去12个月自由现金流最近4个季度 | $6.7B | $12.8B |
8季度趋势，按日历期对齐
经营现金流AMDBMY
| Q4 25 | $2.6B | $2.0B | ||
| Q3 25 | $2.2B | $6.3B | ||
| Q2 25 | $2.0B | $3.9B | ||
| Q1 25 | $939.0M | $2.0B | ||
| Q4 24 | $1.3B | $4.4B | ||
| Q3 24 | $628.0M | $5.6B | ||
| Q2 24 | $593.0M | $2.3B | ||
| Q1 24 | $521.0M | $2.8B |
自由现金流AMDBMY
| Q4 25 | $2.4B | $1.6B | ||
| Q3 25 | $1.9B | $6.0B | ||
| Q2 25 | $1.7B | $3.6B | ||
| Q1 25 | $727.0M | $1.7B | ||
| Q4 24 | $1.1B | $4.1B | ||
| Q3 24 | $496.0M | $5.3B | ||
| Q2 24 | $439.0M | $2.1B | ||
| Q1 24 | $379.0M | $2.5B |
自由现金流率AMDBMY
| Q4 25 | 23.2% | 12.8% | ||
| Q3 25 | 20.6% | 49.0% | ||
| Q2 25 | 22.5% | 29.0% | ||
| Q1 25 | 9.8% | 15.1% | ||
| Q4 24 | 14.2% | 32.9% | ||
| Q3 24 | 7.3% | 44.3% | ||
| Q2 24 | 7.5% | 16.9% | ||
| Q1 24 | 6.9% | 21.5% |
资本支出强度AMDBMY
| Q4 25 | 2.2% | 3.0% | ||
| Q3 25 | 2.8% | 2.6% | ||
| Q2 25 | 3.7% | 2.9% | ||
| Q1 25 | 2.9% | 2.3% | ||
| Q4 24 | 2.7% | 3.1% | ||
| Q3 24 | 1.9% | 2.7% | ||
| Q2 24 | 2.6% | 2.1% | ||
| Q1 24 | 2.6% | 2.4% |
现金转化率AMDBMY
| Q4 25 | 1.72× | 1.82× | ||
| Q3 25 | 1.74× | 2.87× | ||
| Q2 25 | 2.31× | 2.99× | ||
| Q1 25 | 1.32× | 0.80× | ||
| Q4 24 | 2.70× | 61.65× | ||
| Q3 24 | 0.81× | 4.62× | ||
| Q2 24 | 2.24× | 1.38× | ||
| Q1 24 | 4.24× | — |
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% |
BMY
| Net Product Sales | $12.1B | 97% |
| Zeposia | $159.0M | 1% |
| Opdivo Ovantig | $132.0M | 1% |
| Abecma | $100.0M | 1% |
| Sotyktu | $86.0M | 1% |
