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超威半导体（AMD）与花旗集团（C）财务数据对比。点击上方公司名可切换其他公司
花旗集团的季度营收约是超威半导体的1.9倍（$19.9B vs $10.3B），超威半导体净利率更高（14.7% vs 12.4%，领先2.3%），花旗集团自由现金流更多（$24.9B vs $2.4B）
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。
花旗集团（常简称Citi）是总部位于美国纽约的跨国投资银行及金融服务巨头。集团于1998年由花旗银行的控股公司花旗公司与旅行者集团合并成立，2002年旅行者相关业务被拆分独立运营。
AMD vs C — 直观对比
营收规模更大
C
是对方的1.9倍
$10.3B
净利率更高
AMD
高出2.3%
12.4%
自由现金流更多
C
多$22.5B
$2.4B
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $19.9B |
| 净利润 | $1.5B | $2.5B |
| 毛利率 | 54.3% | — |
| 营业利润率 | 17.1% | 19.2% |
| 净利率 | 14.7% | 12.4% |
| 营收同比 | 34.1% | — |
| 净利润同比 | 213.5% | — |
| 每股收益（稀释后） | $0.92 | $1.21 |
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AMDC
| Q4 25 | $10.3B | $19.9B | ||
| Q3 25 | $9.2B | $22.1B | ||
| Q2 25 | $7.7B | $21.7B | ||
| Q1 25 | $7.4B | $21.6B | ||
| Q4 24 | $7.7B | — | ||
| Q3 24 | $6.8B | $20.3B | ||
| Q2 24 | $5.8B | $20.1B | ||
| Q1 24 | $5.5B | $21.1B |
净利润AMDC
| Q4 25 | $1.5B | $2.5B | ||
| Q3 25 | $1.2B | $3.8B | ||
| Q2 25 | $872.0M | $4.0B | ||
| Q1 25 | $709.0M | $4.1B | ||
| Q4 24 | $482.0M | — | ||
| Q3 24 | $771.0M | $3.2B | ||
| Q2 24 | $265.0M | $3.2B | ||
| Q1 24 | $123.0M | $3.4B |
毛利率AMDC
| 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AMDC
| Q4 25 | 17.1% | 19.2% | ||
| Q3 25 | 13.7% | 24.2% | ||
| Q2 25 | -1.7% | 24.1% | ||
| Q1 25 | 10.8% | 25.2% | ||
| Q4 24 | 11.4% | — | ||
| Q3 24 | 10.6% | 21.6% | ||
| Q2 24 | 4.6% | 21.4% | ||
| Q1 24 | 0.7% | 21.5% |
净利率AMDC
| Q4 25 | 14.7% | 12.4% | ||
| Q3 25 | 13.4% | 17.0% | ||
| Q2 25 | 11.3% | 18.5% | ||
| Q1 25 | 9.5% | 18.8% | ||
| Q4 24 | 6.3% | — | ||
| Q3 24 | 11.3% | 15.9% | ||
| Q2 24 | 4.5% | 16.0% | ||
| Q1 24 | 2.2% | 16.0% |
每股收益（稀释后）AMDC
| Q4 25 | $0.92 | $1.21 | ||
| Q3 25 | $0.75 | $1.86 | ||
| Q2 25 | $0.54 | $1.96 | ||
| Q1 25 | $0.44 | $1.96 | ||
| Q4 24 | $0.30 | — | ||
| Q3 24 | $0.47 | $1.51 | ||
| Q2 24 | $0.16 | $1.52 | ||
| Q1 24 | $0.07 | $1.58 |
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 | — | $315.8B |
| 股东权益账面价值 | $63.0B | $212.3B |
| 总资产 | $76.9B | $2657.2B |
| 负债/权益比越低杠杆越低 | — | 1.49× |
8季度趋势，按日历期对齐
现金及短期投资AMDC
| 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AMDC
| Q4 25 | — | $315.8B | ||
| Q3 25 | — | $315.8B | ||
| Q2 25 | — | $317.8B | ||
| Q1 25 | — | $295.7B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $299.1B | ||
| Q2 24 | — | $280.3B | ||
| Q1 24 | — | $285.5B |
股东权益AMDC
| Q4 25 | $63.0B | $212.3B | ||
| Q3 25 | $60.8B | $213.0B | ||
| Q2 25 | $59.7B | $213.2B | ||
| Q1 25 | $57.9B | $212.4B | ||
| Q4 24 | $57.6B | — | ||
| Q3 24 | $57.0B | $209.1B | ||
| Q2 24 | $56.5B | $208.3B | ||
| Q1 24 | $56.2B | $206.6B |
总资产AMDC
| Q4 25 | $76.9B | $2657.2B | ||
| Q3 25 | $76.9B | $2642.5B | ||
| Q2 25 | $74.8B | $2622.8B | ||
| Q1 25 | $71.5B | $2571.5B | ||
| Q4 24 | $69.2B | — | ||
| Q3 24 | $69.6B | $2430.7B | ||
| Q2 24 | $67.9B | $2405.7B | ||
| Q1 24 | $67.9B | $2432.5B |
负债/权益比AMDC
| Q4 25 | — | 1.49× | ||
| Q3 25 | — | 1.48× | ||
| Q2 25 | — | 1.49× | ||
| Q1 25 | — | 1.39× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.43× | ||
| Q2 24 | — | 1.35× | ||
| Q1 24 | — | 1.38× |
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 | $26.6B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $24.9B |
| 自由现金流率自由现金流/营收 | 23.2% | 125.4% |
| 资本支出强度资本支出/营收 | 2.2% | 8.2% |
| 现金转化率经营现金流/净利润 | 1.72× | 10.75× |
| 过去12个月自由现金流最近4个季度 | $6.7B | $-74.2B |
8季度趋势，按日历期对齐
经营现金流AMDC
| Q4 25 | $2.6B | $26.6B | ||
| Q3 25 | $2.2B | $1.1B | ||
| Q2 25 | $2.0B | $-36.6B | ||
| Q1 25 | $939.0M | $-58.7B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $628.0M | — | ||
| Q2 24 | $593.0M | — | ||
| Q1 24 | $521.0M | $-10.8B |
自由现金流AMDC
| Q4 25 | $2.4B | $24.9B | ||
| Q3 25 | $1.9B | $-517.0M | ||
| Q2 25 | $1.7B | $-38.3B | ||
| Q1 25 | $727.0M | $-60.2B | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $496.0M | — | ||
| Q2 24 | $439.0M | — | ||
| Q1 24 | $379.0M | $-12.4B |
自由现金流率AMDC
| Q4 25 | 23.2% | 125.4% | ||
| Q3 25 | 20.6% | -2.3% | ||
| Q2 25 | 22.5% | -176.9% | ||
| Q1 25 | 9.8% | -278.9% | ||
| Q4 24 | 14.2% | — | ||
| Q3 24 | 7.3% | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 24 | 6.9% | -58.9% |
资本支出强度AMDC
| Q4 25 | 2.2% | 8.2% | ||
| Q3 25 | 2.8% | 7.3% | ||
| Q2 25 | 3.7% | 8.1% | ||
| Q1 25 | 2.9% | 7.0% | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 2.6% | — | ||
| Q1 24 | 2.6% | 7.6% |
现金转化率AMDC
| Q4 25 | 1.72× | 10.75× | ||
| Q3 25 | 1.74× | 0.29× | ||
| Q2 25 | 2.31× | -9.10× | ||
| Q1 25 | 1.32× | -14.45× | ||
| Q4 24 | 2.70× | — | ||
| Q3 24 | 0.81× | — | ||
| Q2 24 | 2.24× | — | ||
| Q1 24 | 4.24× | -3.21× |
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% |
C
| Services | $5.9B | 30% |
| Markets | $4.5B | 23% |
| Commissions And Fees | $3.1B | 16% |
| Banking Segment | $2.2B | 11% |
| Wealth | $2.1B | 11% |
| Commercial Portfolio Segment | $1.7B | 9% |
| Brokerage Commissions | $249.0M | 1% |
