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超威半导体（AMD）与高盛（GS）财务数据对比。点击上方公司名可切换其他公司
高盛的季度营收约是超威半导体的1.3倍（$13.5B vs $10.3B），高盛净利率更高（34.3% vs 14.7%，领先19.6%），超威半导体自由现金流更多（$2.4B vs $-16.8B）
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。
高盛集团是美国跨国投资银行及金融服务提供商，创立于1869年，总部位于纽约市曼哈顿下城，在全球多个国际金融中心设有区域总部。按营收计算，高盛是全球规模最大的投资银行之一，位列美国《财富》500强总营收榜单第55位。
AMD vs GS — 直观对比
营收规模更大
GS
是对方的1.3倍
$10.3B
净利率更高
GS
高出19.6%
14.7%
自由现金流更多
AMD
多$19.2B
$-16.8B
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $13.5B |
| 净利润 | $1.5B | $4.6B |
| 毛利率 | 54.3% | — |
| 营业利润率 | 17.1% | 43.5% |
| 净利率 | 14.7% | 34.3% |
| 营收同比 | 34.1% | — |
| 净利润同比 | 213.5% | — |
| 每股收益（稀释后） | $0.92 | $14.04 |
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AMDGS
| Q4 25 | $10.3B | $13.5B | ||
| Q3 25 | $9.2B | $15.2B | ||
| Q2 25 | $7.7B | $14.6B | ||
| Q1 25 | $7.4B | $15.1B | ||
| Q4 24 | $7.7B | — | ||
| Q3 24 | $6.8B | $12.7B | ||
| Q2 24 | $5.8B | $12.7B | ||
| Q1 24 | $5.5B | $14.2B |
净利润AMDGS
| Q4 25 | $1.5B | $4.6B | ||
| Q3 25 | $1.2B | $4.1B | ||
| Q2 25 | $872.0M | $3.7B | ||
| Q1 25 | $709.0M | $4.7B | ||
| Q4 24 | $482.0M | — | ||
| Q3 24 | $771.0M | $3.0B | ||
| Q2 24 | $265.0M | $3.0B | ||
| Q1 24 | $123.0M | $4.1B |
毛利率AMDGS
| 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AMDGS
| Q4 25 | 17.1% | 43.5% | ||
| Q3 25 | 13.7% | 35.5% | ||
| Q2 25 | -1.7% | 34.0% | ||
| Q1 25 | 10.8% | 37.5% | ||
| Q4 24 | 11.4% | — | ||
| Q3 24 | 10.6% | 31.4% | ||
| Q2 24 | 4.6% | 30.8% | ||
| Q1 24 | 0.7% | 36.8% |
净利率AMDGS
| Q4 25 | 14.7% | 34.3% | ||
| Q3 25 | 13.4% | 27.0% | ||
| Q2 25 | 11.3% | 25.5% | ||
| Q1 25 | 9.5% | 31.5% | ||
| Q4 24 | 6.3% | — | ||
| Q3 24 | 11.3% | 23.5% | ||
| Q2 24 | 4.5% | 23.9% | ||
| Q1 24 | 2.2% | 29.1% |
每股收益（稀释后）AMDGS
| Q4 25 | $0.92 | $14.04 | ||
| Q3 25 | $0.75 | $12.25 | ||
| Q2 25 | $0.54 | $10.91 | ||
| Q1 25 | $0.44 | $14.12 | ||
| Q4 24 | $0.30 | — | ||
| Q3 24 | $0.47 | $8.40 | ||
| Q2 24 | $0.16 | $8.62 | ||
| Q1 24 | $0.07 | $11.58 |
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 | $164.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $63.0B | $125.0B |
| 总资产 | $76.9B | $1809.3B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AMDGS
| Q4 25 | $10.6B | $164.3B | ||
| Q3 25 | $7.2B | $169.6B | ||
| Q2 25 | $5.9B | $153.0B | ||
| Q1 25 | $7.3B | $167.4B | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $4.5B | $154.7B | ||
| Q2 24 | $5.3B | $206.3B | ||
| Q1 24 | $6.0B | $209.4B |
股东权益AMDGS
| Q4 25 | $63.0B | $125.0B | ||
| Q3 25 | $60.8B | $124.4B | ||
| Q2 25 | $59.7B | $124.1B | ||
| Q1 25 | $57.9B | $124.3B | ||
| Q4 24 | $57.6B | — | ||
| Q3 24 | $57.0B | $121.2B | ||
| Q2 24 | $56.5B | $119.5B | ||
| Q1 24 | $56.2B | $118.5B |
总资产AMDGS
| Q4 25 | $76.9B | $1809.3B | ||
| Q3 25 | $76.9B | $1808.0B | ||
| Q2 25 | $74.8B | $1785.0B | ||
| Q1 25 | $71.5B | $1766.2B | ||
| Q4 24 | $69.2B | — | ||
| Q3 24 | $69.6B | $1728.1B | ||
| Q2 24 | $67.9B | $1653.3B | ||
| Q1 24 | $67.9B | $1698.4B |
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 | $-16.3B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $-16.8B |
| 自由现金流率自由现金流/营收 | 23.2% | -124.9% |
| 资本支出强度资本支出/营收 | 2.2% | 3.9% |
| 现金转化率经营现金流/净利润 | 1.72× | -3.53× |
| 过去12个月自由现金流最近4个季度 | $6.7B | $-47.2B |
8季度趋势，按日历期对齐
经营现金流AMDGS
| Q4 25 | $2.6B | $-16.3B | ||
| Q3 25 | $2.2B | $2.7B | ||
| Q2 25 | $2.0B | $5.7B | ||
| Q1 25 | $939.0M | $-37.2B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $628.0M | — | ||
| Q2 24 | $593.0M | — | ||
| Q1 24 | $521.0M | $-28.0B |
自由现金流AMDGS
| Q4 25 | $2.4B | $-16.8B | ||
| Q3 25 | $1.9B | $2.1B | ||
| Q2 25 | $1.7B | $5.2B | ||
| Q1 25 | $727.0M | $-37.7B | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $496.0M | — | ||
| Q2 24 | $439.0M | — | ||
| Q1 24 | $379.0M | $-28.5B |
自由现金流率AMDGS
| Q4 25 | 23.2% | -124.9% | ||
| Q3 25 | 20.6% | 14.0% | ||
| Q2 25 | 22.5% | 35.6% | ||
| Q1 25 | 9.8% | -250.5% | ||
| Q4 24 | 14.2% | — | ||
| Q3 24 | 7.3% | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 24 | 6.9% | -200.8% |
资本支出强度AMDGS
| Q4 25 | 2.2% | 3.9% | ||
| Q3 25 | 2.8% | 3.7% | ||
| Q2 25 | 3.7% | 3.3% | ||
| Q1 25 | 2.9% | 3.3% | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 2.6% | — | ||
| Q1 24 | 2.6% | 3.5% |
现金转化率AMDGS
| Q4 25 | 1.72× | -3.53× | ||
| Q3 25 | 1.74× | 0.65× | ||
| Q2 25 | 2.31× | 1.52× | ||
| Q1 25 | 1.32× | -7.86× | ||
| Q4 24 | 2.70× | — | ||
| Q3 24 | 0.81× | — | ||
| Q2 24 | 2.24× | — | ||
| Q1 24 | 4.24× | -6.79× |
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% |
GS
| Global Banking And Markets | $10.5B | 78% |
| Other | $2.9B | 22% |
