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超威半导体（AMD）与麦当劳（MCD）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麦当劳的1.5倍（$10.3B vs $7.0B），麦当劳净利率更高（30.9% vs 14.7%，领先16.2%），超威半导体同比增速更快（34.1% vs 9.7%），超威半导体自由现金流更多（$2.4B vs $1.6B），过去两年超威半导体的营收复合增速更高（37.0% vs 6.6%）
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。
麦当劳是源自美国的知名跨国连锁快餐品牌，主营汉堡、薯条、炸鸡等快餐食品，业务覆盖全球多个国家和地区。截至2024年，其全球门店数量在所有餐饮连锁品牌中位列第二，仅次于中国本土品牌蜜雪冰城。
AMD vs MCD — 直观对比
营收规模更大
AMD
是对方的1.5倍
$7.0B
营收增速更快
AMD
高出24.4%
9.7%
净利率更高
MCD
高出16.2%
14.7%
自由现金流更多
AMD
多$740.0M
$1.6B
两年增速更快
AMD
近两年复合增速
6.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $7.0B |
| 净利润 | $1.5B | $2.2B |
| 毛利率 | 54.3% | — |
| 营业利润率 | 17.1% | 45.0% |
| 净利率 | 14.7% | 30.9% |
| 营收同比 | 34.1% | 9.7% |
| 净利润同比 | 213.5% | 7.3% |
| 每股收益（稀释后） | $0.92 | $3.03 |
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AMDMCD
| Q4 25 | $10.3B | $7.0B | ||
| Q3 25 | $9.2B | $7.1B | ||
| Q2 25 | $7.7B | $6.8B | ||
| Q1 25 | $7.4B | $6.0B | ||
| Q4 24 | $7.7B | $6.4B | ||
| Q3 24 | $6.8B | $6.9B | ||
| Q2 24 | $5.8B | $6.5B | ||
| Q1 24 | $5.5B | $6.2B |
净利润AMDMCD
| Q4 25 | $1.5B | $2.2B | ||
| Q3 25 | $1.2B | $2.3B | ||
| Q2 25 | $872.0M | $2.3B | ||
| Q1 25 | $709.0M | $1.9B | ||
| Q4 24 | $482.0M | $2.0B | ||
| Q3 24 | $771.0M | $2.3B | ||
| Q2 24 | $265.0M | $2.0B | ||
| Q1 24 | $123.0M | $1.9B |
毛利率AMDMCD
| Q4 25 | 54.3% | — | ||
| Q3 25 | 51.7% | 90.6% | ||
| Q2 25 | 39.8% | 90.4% | ||
| Q1 25 | 50.2% | 89.6% | ||
| Q4 24 | 50.7% | — | ||
| Q3 24 | 50.1% | 90.6% | ||
| Q2 24 | 49.1% | 90.3% | ||
| Q1 24 | 46.8% | 89.8% |
营业利润率AMDMCD
| Q4 25 | 17.1% | 45.0% | ||
| Q3 25 | 13.7% | 47.4% | ||
| Q2 25 | -1.7% | 47.2% | ||
| Q1 25 | 10.8% | 44.5% | ||
| Q4 24 | 11.4% | 44.9% | ||
| Q3 24 | 10.6% | 46.4% | ||
| Q2 24 | 4.6% | 45.0% | ||
| Q1 24 | 0.7% | 44.4% |
净利率AMDMCD
| Q4 25 | 14.7% | 30.9% | ||
| Q3 25 | 13.4% | 32.2% | ||
| Q2 25 | 11.3% | 32.9% | ||
| Q1 25 | 9.5% | 31.4% | ||
| Q4 24 | 6.3% | 31.6% | ||
| Q3 24 | 11.3% | 32.8% | ||
| Q2 24 | 4.5% | 31.2% | ||
| Q1 24 | 2.2% | 31.3% |
每股收益（稀释后）AMDMCD
| Q4 25 | $0.92 | $3.03 | ||
| Q3 25 | $0.75 | $3.18 | ||
| Q2 25 | $0.54 | $3.14 | ||
| Q1 25 | $0.44 | $2.60 | ||
| Q4 24 | $0.30 | $2.80 | ||
| Q3 24 | $0.47 | $3.13 | ||
| Q2 24 | $0.16 | $2.80 | ||
| Q1 24 | $0.07 | $2.66 |
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 | $774.0M |
| 总债务越低越好 | — | $40.0B |
| 股东权益账面价值 | $63.0B | $-1.8B |
| 总资产 | $76.9B | $59.5B |
| 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AMDMCD
| Q4 25 | $10.6B | $774.0M | ||
| Q3 25 | $7.2B | $2.4B | ||
| Q2 25 | $5.9B | $1.9B | ||
| Q1 25 | $7.3B | $1.2B | ||
| Q4 24 | $5.1B | $1.1B | ||
| Q3 24 | $4.5B | $1.2B | ||
| Q2 24 | $5.3B | $792.0M | ||
| Q1 24 | $6.0B | $838.0M |
总债务AMDMCD
| Q4 25 | — | $40.0B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $38.4B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AMDMCD
| Q4 25 | $63.0B | $-1.8B | ||
| Q3 25 | $60.8B | $-2.2B | ||
| Q2 25 | $59.7B | $-2.8B | ||
| Q1 25 | $57.9B | $-3.5B | ||
| Q4 24 | $57.6B | $-3.8B | ||
| Q3 24 | $57.0B | $-5.2B | ||
| Q2 24 | $56.5B | $-4.8B | ||
| Q1 24 | $56.2B | $-4.8B |
总资产AMDMCD
| Q4 25 | $76.9B | $59.5B | ||
| Q3 25 | $76.9B | $60.6B | ||
| Q2 25 | $74.8B | $59.6B | ||
| Q1 25 | $71.5B | $56.3B | ||
| Q4 24 | $69.2B | $55.2B | ||
| Q3 24 | $69.6B | $56.2B | ||
| Q2 24 | $67.9B | $53.8B | ||
| Q1 24 | $67.9B | $53.5B |
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 | $2.7B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $1.6B |
| 自由现金流率自由现金流/营收 | 23.2% | 23.4% |
| 资本支出强度资本支出/营收 | 2.2% | 15.1% |
| 现金转化率经营现金流/净利润 | 1.72× | 1.25× |
| 过去12个月自由现金流最近4个季度 | $6.7B | $7.2B |
8季度趋势，按日历期对齐
经营现金流AMDMCD
| Q4 25 | $2.6B | $2.7B | ||
| Q3 25 | $2.2B | $3.4B | ||
| Q2 25 | $2.0B | $2.0B | ||
| Q1 25 | $939.0M | $2.4B | ||
| Q4 24 | $1.3B | $2.6B | ||
| Q3 24 | $628.0M | $2.7B | ||
| Q2 24 | $593.0M | $1.7B | ||
| Q1 24 | $521.0M | $2.4B |
自由现金流AMDMCD
| Q4 25 | $2.4B | $1.6B | ||
| Q3 25 | $1.9B | $2.4B | ||
| Q2 25 | $1.7B | $1.3B | ||
| Q1 25 | $727.0M | $1.9B | ||
| Q4 24 | $1.1B | $1.8B | ||
| Q3 24 | $496.0M | $1.9B | ||
| Q2 24 | $439.0M | $1.1B | ||
| Q1 24 | $379.0M | $1.8B |
自由现金流率AMDMCD
| Q4 25 | 23.2% | 23.4% | ||
| Q3 25 | 20.6% | 34.1% | ||
| Q2 25 | 22.5% | 18.3% | ||
| Q1 25 | 9.8% | 31.5% | ||
| Q4 24 | 14.2% | 28.6% | ||
| Q3 24 | 7.3% | 28.3% | ||
| Q2 24 | 7.5% | 16.3% | ||
| Q1 24 | 6.9% | 29.9% |
资本支出强度AMDMCD
| Q4 25 | 2.2% | 15.1% | ||
| Q3 25 | 2.8% | 14.3% | ||
| Q2 25 | 3.7% | 10.9% | ||
| Q1 25 | 2.9% | 9.3% | ||
| Q4 24 | 2.7% | 12.6% | ||
| Q3 24 | 1.9% | 11.6% | ||
| Q2 24 | 2.6% | 9.7% | ||
| Q1 24 | 2.6% | 8.9% |
现金转化率AMDMCD
| Q4 25 | 1.72× | 1.25× | ||
| Q3 25 | 1.74× | 1.50× | ||
| Q2 25 | 2.31× | 0.89× | ||
| Q1 25 | 1.32× | 1.30× | ||
| Q4 24 | 2.70× | 1.30× | ||
| Q3 24 | 0.81× | 1.21× | ||
| Q2 24 | 2.24× | 0.84× | ||
| Q1 24 | 4.24× | 1.24× |
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% |
MCD
| International Operated Markets | $3.6B | 51% |
| Other | $2.8B | 40% |
| International Developmental Licensed Marketsand Corporate | $633.0M | 9% |
