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超威半导体（AMD）与Coinbase（COIN）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Coinbase的5.8倍（$10.3B vs $1.8B），超威半导体净利率更高（14.7% vs -37.4%，领先52.1%），超威半导体同比增速更快（34.1% vs -21.6%），过去两年超威半导体的营收复合增速更高（37.0% vs 4.3%）
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。
Coinbase是美国知名加密货币交易所，2012年由布莱恩·阿姆斯特朗与弗雷德·埃尔萨姆联合创立。截至2024年，平台拥有超1亿用户，业务覆盖100多个国家，是美国最大加密货币交易所、全球最大比特币托管机构，托管总资产近5160亿美元，持有约12%的流通比特币及11%的质押以太币。
AMD vs COIN — 直观对比
营收规模更大
AMD
是对方的5.8倍
$1.8B
营收增速更快
AMD
高出55.7%
-21.6%
净利率更高
AMD
高出52.1%
-37.4%
两年增速更快
AMD
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $1.8B |
| 净利润 | $1.5B | $-666.7M |
| 毛利率 | 54.3% | — |
| 营业利润率 | 17.1% | 15.4% |
| 净利率 | 14.7% | -37.4% |
| 营收同比 | 34.1% | -21.6% |
| 净利润同比 | 213.5% | -151.6% |
| 每股收益（稀释后） | $0.92 | $-2.43 |
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AMDCOIN
| Q4 25 | $10.3B | $1.8B | ||
| Q3 25 | $9.2B | $1.9B | ||
| Q2 25 | $7.7B | $1.5B | ||
| Q1 25 | $7.4B | $2.0B | ||
| Q4 24 | $7.7B | $2.3B | ||
| Q3 24 | $6.8B | $1.2B | ||
| Q2 24 | $5.8B | $1.4B | ||
| Q1 24 | $5.5B | $1.6B |
净利润AMDCOIN
| Q4 25 | $1.5B | $-666.7M | ||
| Q3 25 | $1.2B | $432.6M | ||
| Q2 25 | $872.0M | $1.4B | ||
| Q1 25 | $709.0M | $65.6M | ||
| Q4 24 | $482.0M | $1.3B | ||
| Q3 24 | $771.0M | $75.5M | ||
| Q2 24 | $265.0M | $36.1M | ||
| Q1 24 | $123.0M | $1.2B |
毛利率AMDCOIN
| 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AMDCOIN
| Q4 25 | 17.1% | 15.4% | ||
| Q3 25 | 13.7% | 25.7% | ||
| Q2 25 | -1.7% | -1.6% | ||
| Q1 25 | 10.8% | 34.7% | ||
| Q4 24 | 11.4% | 45.5% | ||
| Q3 24 | 10.6% | 14.1% | ||
| Q2 24 | 4.6% | 23.7% | ||
| Q1 24 | 0.7% | 46.4% |
净利率AMDCOIN
| Q4 25 | 14.7% | -37.4% | ||
| Q3 25 | 13.4% | 23.1% | ||
| Q2 25 | 11.3% | 95.4% | ||
| Q1 25 | 9.5% | 3.2% | ||
| Q4 24 | 6.3% | 56.8% | ||
| Q3 24 | 11.3% | 6.3% | ||
| Q2 24 | 4.5% | 2.5% | ||
| Q1 24 | 2.2% | 71.8% |
每股收益（稀释后）AMDCOIN
| Q4 25 | $0.92 | $-2.43 | ||
| Q3 25 | $0.75 | $1.50 | ||
| Q2 25 | $0.54 | $5.14 | ||
| Q1 25 | $0.44 | $0.24 | ||
| Q4 24 | $0.30 | $4.66 | ||
| Q3 24 | $0.47 | $0.28 | ||
| Q2 24 | $0.16 | $0.14 | ||
| Q1 24 | $0.07 | $4.40 |
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 | $11.6B |
| 总债务越低越好 | — | $7.2B |
| 股东权益账面价值 | $63.0B | $14.8B |
| 总资产 | $76.9B | $29.7B |
| 负债/权益比越低杠杆越低 | — | 0.49× |
8季度趋势，按日历期对齐
现金及短期投资AMDCOIN
| Q4 25 | $10.6B | $11.6B | ||
| Q3 25 | $7.2B | $9.8B | ||
| Q2 25 | $5.9B | $7.5B | ||
| Q1 25 | $7.3B | $8.1B | ||
| Q4 24 | $5.1B | $8.5B | ||
| Q3 24 | $4.5B | $7.7B | ||
| Q2 24 | $5.3B | $7.2B | ||
| Q1 24 | $6.0B | $6.7B |
总债务AMDCOIN
| Q4 25 | — | $7.2B | ||
| Q3 25 | — | $7.2B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.2B |
股东权益AMDCOIN
| Q4 25 | $63.0B | $14.8B | ||
| Q3 25 | $60.8B | $16.0B | ||
| Q2 25 | $59.7B | $12.1B | ||
| Q1 25 | $57.9B | $10.5B | ||
| Q4 24 | $57.6B | $10.3B | ||
| Q3 24 | $57.0B | $8.7B | ||
| Q2 24 | $56.5B | $8.4B | ||
| Q1 24 | $56.2B | $8.1B |
总资产AMDCOIN
| Q4 25 | $76.9B | $29.7B | ||
| Q3 25 | $76.9B | $31.4B | ||
| Q2 25 | $74.8B | $23.5B | ||
| Q1 25 | $71.5B | $21.7B | ||
| Q4 24 | $69.2B | $22.5B | ||
| Q3 24 | $69.6B | $290.6B | ||
| Q2 24 | $67.9B | $287.0B | ||
| Q1 24 | $67.9B | $348.0B |
负债/权益比AMDCOIN
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.41× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.51× | ||
| Q1 24 | — | 0.52× |
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 | $3.1B |
| 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× | — |
| 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AMDCOIN
| Q4 25 | $2.6B | $3.1B | ||
| Q3 25 | $2.2B | $-784.5M | ||
| Q2 25 | $2.0B | $328.5M | ||
| Q1 25 | $939.0M | $-182.7M | ||
| Q4 24 | $1.3B | $964.6M | ||
| Q3 24 | $628.0M | $696.5M | ||
| Q2 24 | $593.0M | $484.2M | ||
| Q1 24 | $521.0M | $411.5M |
自由现金流AMDCOIN
| 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AMDCOIN
| 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AMDCOIN
| 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AMDCOIN
| Q4 25 | 1.72× | — | ||
| Q3 25 | 1.74× | -1.81× | ||
| Q2 25 | 2.31× | 0.23× | ||
| Q1 25 | 1.32× | -2.79× | ||
| Q4 24 | 2.70× | 0.75× | ||
| Q3 24 | 0.81× | 9.23× | ||
| Q2 24 | 2.24× | 13.39× | ||
| Q1 24 | 4.24× | 0.35× |
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% |
COIN
| Bank Servicing Consumer Net | $733.9M | 41% |
| Subscription And Circulation | $727.4M | 41% |
| Bank Servicing Institutional | $185.0M | 10% |
| Other Revenue | $71.1M | 4% |
| Bank Servicing Other | $63.8M | 4% |
| Related Party | $1.3M | 0% |
