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超威半导体（AMD）与可口可乐公司（KO）财务数据对比。点击上方公司名可切换其他公司
可口可乐公司的季度营收约是超威半导体的1.2倍（$11.8B vs $10.3B），可口可乐公司净利率更高（19.2% vs 14.7%，领先4.5%），超威半导体同比增速更快（34.1% vs 2.4%），可口可乐公司自由现金流更多（$2.9B vs $2.4B），过去两年超威半导体的营收复合增速更高（37.0% vs 2.3%）
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。
可口可乐公司是1892年成立的美国跨国企业，总部位于佐治亚州亚特兰大。公司主营含可口可乐在内的软饮、各类非酒精饮料浓缩液、糖浆及酒精饮料的生产、销售与营销，股票在纽交所上市，是道琼斯工业平均指数、标普500及标普100指数成分股。
AMD vs KO — 直观对比
营收规模更大
KO
是对方的1.2倍
$10.3B
营收增速更快
AMD
高出31.7%
2.4%
净利率更高
KO
高出4.5%
14.7%
自由现金流更多
KO
多$496.0M
$2.4B
两年增速更快
AMD
近两年复合增速
2.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $11.8B |
| 净利润 | $1.5B | $2.3B |
| 毛利率 | 54.3% | 60.0% |
| 营业利润率 | 17.1% | 15.6% |
| 净利率 | 14.7% | 19.2% |
| 营收同比 | 34.1% | 2.4% |
| 净利润同比 | 213.5% | 3.5% |
| 每股收益（稀释后） | $0.92 | $0.53 |
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AMDKO
| Q4 25 | $10.3B | $11.8B | ||
| Q3 25 | $9.2B | $12.5B | ||
| Q2 25 | $7.7B | $12.5B | ||
| Q1 25 | $7.4B | $11.1B | ||
| Q4 24 | $7.7B | $11.5B | ||
| Q3 24 | $6.8B | $11.9B | ||
| Q2 24 | $5.8B | $12.4B | ||
| Q1 24 | $5.5B | $11.3B |
净利润AMDKO
| Q4 25 | $1.5B | $2.3B | ||
| Q3 25 | $1.2B | $3.7B | ||
| Q2 25 | $872.0M | $3.8B | ||
| Q1 25 | $709.0M | $3.3B | ||
| Q4 24 | $482.0M | $2.2B | ||
| Q3 24 | $771.0M | $2.8B | ||
| Q2 24 | $265.0M | $2.4B | ||
| Q1 24 | $123.0M | $3.2B |
毛利率AMDKO
| Q4 25 | 54.3% | 60.0% | ||
| Q3 25 | 51.7% | 61.5% | ||
| Q2 25 | 39.8% | 62.4% | ||
| Q1 25 | 50.2% | 62.6% | ||
| Q4 24 | 50.7% | 60.0% | ||
| Q3 24 | 50.1% | 60.7% | ||
| Q2 24 | 49.1% | 61.1% | ||
| Q1 24 | 46.8% | 62.5% |
营业利润率AMDKO
| Q4 25 | 17.1% | 15.6% | ||
| Q3 25 | 13.7% | 32.0% | ||
| Q2 25 | -1.7% | 34.1% | ||
| Q1 25 | 10.8% | 32.9% | ||
| Q4 24 | 11.4% | 23.5% | ||
| Q3 24 | 10.6% | 21.2% | ||
| Q2 24 | 4.6% | 21.3% | ||
| Q1 24 | 0.7% | 18.9% |
净利率AMDKO
| Q4 25 | 14.7% | 19.2% | ||
| Q3 25 | 13.4% | 29.7% | ||
| Q2 25 | 11.3% | 30.4% | ||
| Q1 25 | 9.5% | 29.9% | ||
| Q4 24 | 6.3% | 19.0% | ||
| Q3 24 | 11.3% | 24.0% | ||
| Q2 24 | 4.5% | 19.5% | ||
| Q1 24 | 2.2% | 28.1% |
每股收益（稀释后）AMDKO
| Q4 25 | $0.92 | $0.53 | ||
| Q3 25 | $0.75 | $0.86 | ||
| Q2 25 | $0.54 | $0.88 | ||
| Q1 25 | $0.44 | $0.77 | ||
| Q4 24 | $0.30 | $0.50 | ||
| Q3 24 | $0.47 | $0.66 | ||
| Q2 24 | $0.16 | $0.56 | ||
| Q1 24 | $0.07 | $0.74 |
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 | $10.3B |
| 总债务越低越好 | — | $42.1B |
| 股东权益账面价值 | $63.0B | $32.2B |
| 总资产 | $76.9B | $104.8B |
| 负债/权益比越低杠杆越低 | — | 1.31× |
8季度趋势，按日历期对齐
现金及短期投资AMDKO
| Q4 25 | $10.6B | $10.3B | ||
| Q3 25 | $7.2B | $12.7B | ||
| Q2 25 | $5.9B | $9.6B | ||
| Q1 25 | $7.3B | $8.4B | ||
| Q4 24 | $5.1B | $10.8B | ||
| Q3 24 | $4.5B | $13.9B | ||
| Q2 24 | $5.3B | $13.7B | ||
| Q1 24 | $6.0B | $10.4B |
总债务AMDKO
| Q4 25 | — | $42.1B | ||
| Q3 25 | — | $43.2B | ||
| Q2 25 | — | $45.0B | ||
| Q1 25 | — | $43.5B | ||
| Q4 24 | — | $42.4B | ||
| Q3 24 | — | $43.0B | ||
| Q2 24 | — | $38.1B | ||
| Q1 24 | — | $36.5B |
股东权益AMDKO
| Q4 25 | $63.0B | $32.2B | ||
| Q3 25 | $60.8B | $31.2B | ||
| Q2 25 | $59.7B | $28.6B | ||
| Q1 25 | $57.9B | $26.2B | ||
| Q4 24 | $57.6B | $24.9B | ||
| Q3 24 | $57.0B | $26.5B | ||
| Q2 24 | $56.5B | $25.9B | ||
| Q1 24 | $56.2B | $26.4B |
总资产AMDKO
| Q4 25 | $76.9B | $104.8B | ||
| Q3 25 | $76.9B | $106.0B | ||
| Q2 25 | $74.8B | $104.3B | ||
| Q1 25 | $71.5B | $101.7B | ||
| Q4 24 | $69.2B | $100.5B | ||
| Q3 24 | $69.6B | $106.3B | ||
| Q2 24 | $67.9B | $101.2B | ||
| Q1 24 | $67.9B | $99.4B |
负债/权益比AMDKO
| Q4 25 | — | 1.31× | ||
| Q3 25 | — | 1.38× | ||
| Q2 25 | — | 1.57× | ||
| Q1 25 | — | 1.66× | ||
| Q4 24 | — | 1.70× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | 1.47× | ||
| 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 | $3.8B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $2.9B |
| 自由现金流率自由现金流/营收 | 23.2% | 24.3% |
| 资本支出强度资本支出/营收 | 2.2% | 7.5% |
| 现金转化率经营现金流/净利润 | 1.72× | 1.65× |
| 过去12个月自由现金流最近4个季度 | $6.7B | $5.3B |
8季度趋势，按日历期对齐
经营现金流AMDKO
| Q4 25 | $2.6B | $3.8B | ||
| Q3 25 | $2.2B | $5.0B | ||
| Q2 25 | $2.0B | $3.8B | ||
| Q1 25 | $939.0M | $-5.2B | ||
| Q4 24 | $1.3B | $4.0B | ||
| Q3 24 | $628.0M | $-1.3B | ||
| Q2 24 | $593.0M | $3.6B | ||
| Q1 24 | $521.0M | $528.0M |
自由现金流AMDKO
| Q4 25 | $2.4B | $2.9B | ||
| Q3 25 | $1.9B | $4.6B | ||
| Q2 25 | $1.7B | $3.4B | ||
| Q1 25 | $727.0M | $-5.5B | ||
| Q4 24 | $1.1B | $3.1B | ||
| Q3 24 | $496.0M | $-1.7B | ||
| Q2 24 | $439.0M | $3.2B | ||
| Q1 24 | $379.0M | $158.0M |
自由现金流率AMDKO
| Q4 25 | 23.2% | 24.3% | ||
| Q3 25 | 20.6% | 36.6% | ||
| Q2 25 | 22.5% | 26.9% | ||
| Q1 25 | 9.8% | -49.5% | ||
| Q4 24 | 14.2% | 27.3% | ||
| Q3 24 | 7.3% | -14.6% | ||
| Q2 24 | 7.5% | 25.6% | ||
| Q1 24 | 6.9% | 1.4% |
资本支出强度AMDKO
| Q4 25 | 2.2% | 7.5% | ||
| Q3 25 | 2.8% | 3.8% | ||
| Q2 25 | 3.7% | 3.5% | ||
| Q1 25 | 2.9% | 2.8% | ||
| Q4 24 | 2.7% | 7.0% | ||
| Q3 24 | 1.9% | 4.0% | ||
| Q2 24 | 2.6% | 3.4% | ||
| Q1 24 | 2.6% | 3.3% |
现金转化率AMDKO
| Q4 25 | 1.72× | 1.65× | ||
| Q3 25 | 1.74× | 1.36× | ||
| Q2 25 | 2.31× | 1.00× | ||
| Q1 25 | 1.32× | -1.56× | ||
| Q4 24 | 2.70× | 1.80× | ||
| Q3 24 | 0.81× | -0.44× | ||
| Q2 24 | 2.24× | 1.49× | ||
| Q1 24 | 4.24× | 0.17× |
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% |
KO
| Other | $7.0B | 59% |
| Finished Product Operations | $2.4B | 21% |
| Concentrate Operations | $2.4B | 20% |
