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超威半导体（AMD）与Meta Platforms（META）财务数据对比。点击上方公司名可切换其他公司
Meta Platforms的季度营收约是超威半导体的5.8倍（$59.9B vs $10.3B），Meta Platforms净利率更高（38.0% vs 14.7%，领先23.3%），超威半导体同比增速更快（34.1% vs 23.8%），Meta Platforms自由现金流更多（$14.8B vs $2.4B），过去两年超威半导体的营收复合增速更高（37.0% vs 28.2%）
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。
Meta Platforms是总部位于美国加利福尼亚州门洛帕克的跨国科技巨头，属于全球头部科技企业阵营。旗下运营Facebook、Instagram、WhatsApp、Messenger、Threads等多款知名社交媒体及通讯服务，同时开展自有及第三方站点广告业务，2023年广告收入占其总营收的97.8%。
AMD vs META — 直观对比
营收规模更大
META
是对方的5.8倍
$10.3B
营收增速更快
AMD
高出10.3%
23.8%
净利率更高
META
高出23.3%
14.7%
自由现金流更多
META
多$12.5B
$2.4B
两年增速更快
AMD
近两年复合增速
28.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $59.9B |
| 净利润 | $1.5B | $22.8B |
| 毛利率 | 54.3% | 81.8% |
| 营业利润率 | 17.1% | 41.3% |
| 净利率 | 14.7% | 38.0% |
| 营收同比 | 34.1% | 23.8% |
| 净利润同比 | 213.5% | 9.3% |
| 每股收益（稀释后） | $0.92 | $8.87 |
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AMDMETA
| Q4 25 | $10.3B | $59.9B | ||
| Q3 25 | $9.2B | $51.2B | ||
| Q2 25 | $7.7B | $47.5B | ||
| Q1 25 | $7.4B | $42.3B | ||
| Q4 24 | $7.7B | $48.4B | ||
| Q3 24 | $6.8B | $40.6B | ||
| Q2 24 | $5.8B | $39.1B | ||
| Q1 24 | $5.5B | $36.5B |
净利润AMDMETA
| Q4 25 | $1.5B | $22.8B | ||
| Q3 25 | $1.2B | $2.7B | ||
| Q2 25 | $872.0M | $18.3B | ||
| Q1 25 | $709.0M | $16.6B | ||
| Q4 24 | $482.0M | $20.8B | ||
| Q3 24 | $771.0M | $15.7B | ||
| Q2 24 | $265.0M | $13.5B | ||
| Q1 24 | $123.0M | $12.4B |
毛利率AMDMETA
| Q4 25 | 54.3% | 81.8% | ||
| Q3 25 | 51.7% | 82.0% | ||
| Q2 25 | 39.8% | 82.1% | ||
| Q1 25 | 50.2% | 82.1% | ||
| Q4 24 | 50.7% | 81.7% | ||
| Q3 24 | 50.1% | 81.8% | ||
| Q2 24 | 49.1% | 81.3% | ||
| Q1 24 | 46.8% | 81.8% |
营业利润率AMDMETA
| Q4 25 | 17.1% | 41.3% | ||
| Q3 25 | 13.7% | 40.1% | ||
| Q2 25 | -1.7% | 43.0% | ||
| Q1 25 | 10.8% | 41.5% | ||
| Q4 24 | 11.4% | 48.3% | ||
| Q3 24 | 10.6% | 42.7% | ||
| Q2 24 | 4.6% | 38.0% | ||
| Q1 24 | 0.7% | 37.9% |
净利率AMDMETA
| Q4 25 | 14.7% | 38.0% | ||
| Q3 25 | 13.4% | 5.3% | ||
| Q2 25 | 11.3% | 38.6% | ||
| Q1 25 | 9.5% | 39.3% | ||
| Q4 24 | 6.3% | 43.1% | ||
| Q3 24 | 11.3% | 38.7% | ||
| Q2 24 | 4.5% | 34.5% | ||
| Q1 24 | 2.2% | 33.9% |
每股收益（稀释后）AMDMETA
| Q4 25 | $0.92 | $8.87 | ||
| Q3 25 | $0.75 | $1.05 | ||
| Q2 25 | $0.54 | $7.14 | ||
| Q1 25 | $0.44 | $6.43 | ||
| Q4 24 | $0.30 | $7.96 | ||
| Q3 24 | $0.47 | $6.03 | ||
| Q2 24 | $0.16 | $5.16 | ||
| Q1 24 | $0.07 | $4.71 |
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 | $81.6B |
| 总债务越低越好 | — | $58.7B |
| 股东权益账面价值 | $63.0B | $217.2B |
| 总资产 | $76.9B | $366.0B |
| 负债/权益比越低杠杆越低 | — | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资AMDMETA
| Q4 25 | $10.6B | $81.6B | ||
| Q3 25 | $7.2B | $44.4B | ||
| Q2 25 | $5.9B | $47.1B | ||
| Q1 25 | $7.3B | $70.2B | ||
| Q4 24 | $5.1B | $77.8B | ||
| Q3 24 | $4.5B | $70.9B | ||
| Q2 24 | $5.3B | $58.1B | ||
| Q1 24 | $6.0B | $58.1B |
总债务AMDMETA
| Q4 25 | — | $58.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $28.8B | ||
| Q3 24 | — | $28.8B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AMDMETA
| Q4 25 | $63.0B | $217.2B | ||
| Q3 25 | $60.8B | $194.1B | ||
| Q2 25 | $59.7B | $195.1B | ||
| Q1 25 | $57.9B | $185.0B | ||
| Q4 24 | $57.6B | $182.6B | ||
| Q3 24 | $57.0B | $164.5B | ||
| Q2 24 | $56.5B | $156.8B | ||
| Q1 24 | $56.2B | $149.5B |
总资产AMDMETA
| Q4 25 | $76.9B | $366.0B | ||
| Q3 25 | $76.9B | $303.8B | ||
| Q2 25 | $74.8B | $294.7B | ||
| Q1 25 | $71.5B | $280.2B | ||
| Q4 24 | $69.2B | $276.1B | ||
| Q3 24 | $69.6B | $256.4B | ||
| Q2 24 | $67.9B | $230.2B | ||
| Q1 24 | $67.9B | $222.8B |
负债/权益比AMDMETA
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $36.2B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $14.8B |
| 自由现金流率自由现金流/营收 | 23.2% | 24.8% |
| 资本支出强度资本支出/营收 | 2.2% | 35.7% |
| 现金转化率经营现金流/净利润 | 1.72× | 1.59× |
| 过去12个月自由现金流最近4个季度 | $6.7B | $46.1B |
8季度趋势，按日历期对齐
经营现金流AMDMETA
| Q4 25 | $2.6B | $36.2B | ||
| Q3 25 | $2.2B | $30.0B | ||
| Q2 25 | $2.0B | $25.6B | ||
| Q1 25 | $939.0M | $24.0B | ||
| Q4 24 | $1.3B | $28.0B | ||
| Q3 24 | $628.0M | $24.7B | ||
| Q2 24 | $593.0M | $19.4B | ||
| Q1 24 | $521.0M | $19.2B |
自由现金流AMDMETA
| Q4 25 | $2.4B | $14.8B | ||
| Q3 25 | $1.9B | $11.2B | ||
| Q2 25 | $1.7B | $9.0B | ||
| Q1 25 | $727.0M | $11.1B | ||
| Q4 24 | $1.1B | $13.6B | ||
| Q3 24 | $496.0M | $16.5B | ||
| Q2 24 | $439.0M | $11.2B | ||
| Q1 24 | $379.0M | $12.8B |
自由现金流率AMDMETA
| Q4 25 | 23.2% | 24.8% | ||
| Q3 25 | 20.6% | 21.8% | ||
| Q2 25 | 22.5% | 19.0% | ||
| Q1 25 | 9.8% | 26.2% | ||
| Q4 24 | 14.2% | 28.0% | ||
| Q3 24 | 7.3% | 40.6% | ||
| Q2 24 | 7.5% | 28.7% | ||
| Q1 24 | 6.9% | 35.2% |
资本支出强度AMDMETA
| Q4 25 | 2.2% | 35.7% | ||
| Q3 25 | 2.8% | 36.7% | ||
| Q2 25 | 3.7% | 34.8% | ||
| Q1 25 | 2.9% | 30.6% | ||
| Q4 24 | 2.7% | 29.8% | ||
| Q3 24 | 1.9% | 20.3% | ||
| Q2 24 | 2.6% | 20.9% | ||
| Q1 24 | 2.6% | 17.6% |
现金转化率AMDMETA
| Q4 25 | 1.72× | 1.59× | ||
| Q3 25 | 1.74× | 11.07× | ||
| Q2 25 | 2.31× | 1.39× | ||
| Q1 25 | 1.32× | 1.44× | ||
| Q4 24 | 2.70× | 1.34× | ||
| Q3 24 | 0.81× | 1.58× | ||
| Q2 24 | 2.24× | 1.44× | ||
| Q1 24 | 4.24× | 1.56× |
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% |
META
| Advertising | $58.1B | 97% |
| Reality Labs | $955.0M | 2% |
| Service Other | $801.0M | 1% |
