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超威半导体（AMD）与哈里伯顿（HAL）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哈里伯顿的1.9倍（$10.3B vs $5.4B），超威半导体净利率更高（14.7% vs 8.6%，领先6.1%），超威半导体同比增速更快（34.1% vs -4.5%），超威半导体自由现金流更多（$2.4B vs $123.0M），过去两年超威半导体的营收复合增速更高（37.0% vs -3.8%）
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。
哈里伯顿是源自美国的跨国企业，为全球第二大油田服务提供商，承接了全球绝大多数水力压裂作业项目。公司在美国注册，设有休斯敦与迪拜双总部，业务覆盖全球主要油气开采市场。
AMD vs HAL — 直观对比
营收规模更大
AMD
是对方的1.9倍
$5.4B
营收增速更快
AMD
高出38.6%
-4.5%
净利率更高
AMD
高出6.1%
8.6%
自由现金流更多
AMD
多$2.3B
$123.0M
两年增速更快
AMD
近两年复合增速
-3.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $5.4B |
| 净利润 | $1.5B | $464.0M |
| 毛利率 | 54.3% | — |
| 营业利润率 | 17.1% | 12.6% |
| 净利率 | 14.7% | 8.6% |
| 营收同比 | 34.1% | -4.5% |
| 净利润同比 | 213.5% | -21.2% |
| 每股收益（稀释后） | $0.92 | $0.55 |
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AMDHAL
| Q1 26 | — | $5.4B | ||
| Q4 25 | $10.3B | $5.7B | ||
| Q3 25 | $9.2B | $5.6B | ||
| Q2 25 | $7.7B | $5.5B | ||
| Q1 25 | $7.4B | $5.4B | ||
| Q4 24 | $7.7B | $5.6B | ||
| Q3 24 | $6.8B | $5.7B | ||
| Q2 24 | $5.8B | $5.8B |
净利润AMDHAL
| Q1 26 | — | $464.0M | ||
| Q4 25 | $1.5B | $589.0M | ||
| Q3 25 | $1.2B | $18.0M | ||
| Q2 25 | $872.0M | $472.0M | ||
| Q1 25 | $709.0M | $204.0M | ||
| Q4 24 | $482.0M | $615.0M | ||
| Q3 24 | $771.0M | $571.0M | ||
| Q2 24 | $265.0M | $709.0M |
毛利率AMDHAL
| Q1 26 | — | — | ||
| 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% | — |
营业利润率AMDHAL
| Q1 26 | — | 12.6% | ||
| Q4 25 | 17.1% | 13.2% | ||
| Q3 25 | 13.7% | 6.4% | ||
| Q2 25 | -1.7% | 13.2% | ||
| Q1 25 | 10.8% | 8.0% | ||
| Q4 24 | 11.4% | 16.6% | ||
| Q3 24 | 10.6% | 15.3% | ||
| Q2 24 | 4.6% | 17.7% |
净利率AMDHAL
| Q1 26 | — | 8.6% | ||
| Q4 25 | 14.7% | 10.4% | ||
| Q3 25 | 13.4% | 0.3% | ||
| Q2 25 | 11.3% | 8.6% | ||
| Q1 25 | 9.5% | 3.8% | ||
| Q4 24 | 6.3% | 11.0% | ||
| Q3 24 | 11.3% | 10.0% | ||
| Q2 24 | 4.5% | 12.2% |
每股收益（稀释后）AMDHAL
| Q1 26 | — | $0.55 | ||
| Q4 25 | $0.92 | — | ||
| Q3 25 | $0.75 | $0.02 | ||
| Q2 25 | $0.54 | $0.55 | ||
| Q1 25 | $0.44 | $0.24 | ||
| Q4 24 | $0.30 | — | ||
| Q3 24 | $0.47 | $650000.00 | ||
| Q2 24 | $0.16 | $800000.00 |
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 | $2.0M |
| 总债务越低越好 | — | $7.2M |
| 股东权益账面价值 | $63.0B | $10.8M |
| 总资产 | $76.9B | $25.1M |
| 负债/权益比越低杠杆越低 | — | 0.66× |
8季度趋势，按日历期对齐
现金及短期投资AMDHAL
| Q1 26 | — | $2.0M | ||
| Q4 25 | $10.6B | $2.2B | ||
| Q3 25 | $7.2B | $2.0B | ||
| Q2 25 | $5.9B | — | ||
| Q1 25 | $7.3B | — | ||
| Q4 24 | $5.1B | $2.6B | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $5.3B | — |
总债务AMDHAL
| Q1 26 | — | $7.2M | ||
| Q4 25 | — | $7.2B | ||
| Q3 25 | — | $7.2B | ||
| Q2 25 | — | $7.2B | ||
| Q1 25 | — | $7.2B | ||
| Q4 24 | — | $7.2B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B |
股东权益AMDHAL
| Q1 26 | — | $10.8M | ||
| Q4 25 | $63.0B | $10.5B | ||
| Q3 25 | $60.8B | $10.2B | ||
| Q2 25 | $59.7B | $10.5B | ||
| Q1 25 | $57.9B | $10.4B | ||
| Q4 24 | $57.6B | $10.5B | ||
| Q3 24 | $57.0B | $10.3B | ||
| Q2 24 | $56.5B | $10.0B |
总资产AMDHAL
| Q1 26 | — | $25.1M | ||
| Q4 25 | $76.9B | $25.0B | ||
| Q3 25 | $76.9B | $25.2B | ||
| Q2 25 | $74.8B | $25.4B | ||
| Q1 25 | $71.5B | $25.2B | ||
| Q4 24 | $69.2B | $25.6B | ||
| Q3 24 | $69.6B | $25.3B | ||
| Q2 24 | $67.9B | $25.2B |
负债/权益比AMDHAL
| Q1 26 | — | 0.66× | ||
| Q4 25 | — | 0.68× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | — | 0.68× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.76× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $123.0M |
| 自由现金流率自由现金流/营收 | 23.2% | 2.3% |
| 资本支出强度资本支出/营收 | 2.2% | 3.6% |
| 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 | $1.7B |
8季度趋势，按日历期对齐
经营现金流AMDHAL
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $1.2B | ||
| Q3 25 | $2.2B | $488.0M | ||
| Q2 25 | $2.0B | $896.0M | ||
| Q1 25 | $939.0M | $377.0M | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $628.0M | $841.0M | ||
| Q2 24 | $593.0M | $1.1B |
自由现金流AMDHAL
| Q1 26 | — | $123.0M | ||
| Q4 25 | $2.4B | $828.0M | ||
| Q3 25 | $1.9B | $227.0M | ||
| Q2 25 | $1.7B | $542.0M | ||
| Q1 25 | $727.0M | $75.0M | ||
| Q4 24 | $1.1B | $1.0B | ||
| Q3 24 | $496.0M | $502.0M | ||
| Q2 24 | $439.0M | $734.0M |
自由现金流率AMDHAL
| Q1 26 | — | 2.3% | ||
| Q4 25 | 23.2% | 14.6% | ||
| Q3 25 | 20.6% | 4.1% | ||
| Q2 25 | 22.5% | 9.8% | ||
| Q1 25 | 9.8% | 1.4% | ||
| Q4 24 | 14.2% | 18.4% | ||
| Q3 24 | 7.3% | 8.8% | ||
| Q2 24 | 7.5% | 12.6% |
资本支出强度AMDHAL
| Q1 26 | — | 3.6% | ||
| Q4 25 | 2.2% | 6.0% | ||
| Q3 25 | 2.8% | 4.7% | ||
| Q2 25 | 3.7% | 6.4% | ||
| Q1 25 | 2.9% | 5.6% | ||
| Q4 24 | 2.7% | 7.6% | ||
| Q3 24 | 1.9% | 6.0% | ||
| Q2 24 | 2.6% | 5.9% |
现金转化率AMDHAL
| Q1 26 | — | — | ||
| Q4 25 | 1.72× | 1.98× | ||
| Q3 25 | 1.74× | 27.11× | ||
| Q2 25 | 2.31× | 1.90× | ||
| Q1 25 | 1.32× | 1.85× | ||
| Q4 24 | 2.70× | 2.37× | ||
| Q3 24 | 0.81× | 1.47× | ||
| Q2 24 | 2.24× | 1.52× |
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% |
HAL
| Completion and Production | $3.0B | 56% |
| Middle East/Asia | $1.3B | 24% |
| Europe/Africa/CIS | $858.0M | 16% |
| Other | $210.0M | 4% |
