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超威半导体（AMD）与3M（MMM）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3M的1.7倍（$10.3B vs $6.0B），超威半导体净利率更高（14.7% vs 10.8%，领先3.9%），超威半导体同比增速更快（34.1% vs 1.3%），超威半导体自由现金流更多（$2.4B vs $2.0B），过去两年超威半导体的营收复合增速更高（37.0% vs -1.8%）
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。
3M是美国知名跨国综合企业，业务覆盖工业、劳动者安全防护、消费品等多个领域，总部位于圣保罗郊区的枫木市。公司现有超6万款产品，涵盖胶粘剂、研磨材料、防火防护产品、个人防护装备、窗膜、车漆保护膜、电子连接绝缘材料、汽车养护产品、光学膜等品类。
AMD vs MMM — 直观对比
营收规模更大
AMD
是对方的1.7倍
$6.0B
营收增速更快
AMD
高出32.8%
1.3%
净利率更高
AMD
高出3.9%
10.8%
自由现金流更多
AMD
多$352.0M
$2.0B
两年增速更快
AMD
近两年复合增速
-1.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $6.0B |
| 净利润 | $1.5B | $653.0M |
| 毛利率 | 54.3% | 40.7% |
| 营业利润率 | 17.1% | 23.2% |
| 净利率 | 14.7% | 10.8% |
| 营收同比 | 34.1% | 1.3% |
| 净利润同比 | 213.5% | -41.5% |
| 每股收益（稀释后） | $0.92 | $1.23 |
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AMDMMM
| Q1 26 | — | $6.0B | ||
| Q4 25 | $10.3B | $6.1B | ||
| Q3 25 | $9.2B | $6.5B | ||
| Q2 25 | $7.7B | $6.3B | ||
| Q1 25 | $7.4B | $6.0B | ||
| Q4 24 | $7.7B | $6.0B | ||
| Q3 24 | $6.8B | $6.3B | ||
| Q2 24 | $5.8B | $6.3B |
净利润AMDMMM
| Q1 26 | — | $653.0M | ||
| Q4 25 | $1.5B | $577.0M | ||
| Q3 25 | $1.2B | $834.0M | ||
| Q2 25 | $872.0M | $723.0M | ||
| Q1 25 | $709.0M | $1.1B | ||
| Q4 24 | $482.0M | $728.0M | ||
| Q3 24 | $771.0M | $1.4B | ||
| Q2 24 | $265.0M | $1.1B |
毛利率AMDMMM
| Q1 26 | — | 40.7% | ||
| Q4 25 | 54.3% | 33.6% | ||
| Q3 25 | 51.7% | 41.8% | ||
| Q2 25 | 39.8% | 42.5% | ||
| Q1 25 | 50.2% | 41.6% | ||
| Q4 24 | 50.7% | 51.7% | ||
| Q3 24 | 50.1% | 42.1% | ||
| Q2 24 | 49.1% | 42.9% |
营业利润率AMDMMM
| Q1 26 | — | 23.2% | ||
| Q4 25 | 17.1% | 13.0% | ||
| Q3 25 | 13.7% | 22.2% | ||
| Q2 25 | -1.7% | 18.0% | ||
| Q1 25 | 10.8% | 20.9% | ||
| Q4 24 | 11.4% | 12.2% | ||
| Q3 24 | 10.6% | 20.9% | ||
| Q2 24 | 4.6% | 20.3% |
净利率AMDMMM
| Q1 26 | — | 10.8% | ||
| Q4 25 | 14.7% | 9.4% | ||
| Q3 25 | 13.4% | 12.8% | ||
| Q2 25 | 11.3% | 11.4% | ||
| Q1 25 | 9.5% | 18.7% | ||
| Q4 24 | 6.3% | 12.1% | ||
| Q3 24 | 11.3% | 21.8% | ||
| Q2 24 | 4.5% | 18.3% |
每股收益（稀释后）AMDMMM
| Q1 26 | — | $1.23 | ||
| Q4 25 | $0.92 | $1.07 | ||
| Q3 25 | $0.75 | $1.55 | ||
| Q2 25 | $0.54 | $1.34 | ||
| Q1 25 | $0.44 | $2.04 | ||
| Q4 24 | $0.30 | $1.33 | ||
| Q3 24 | $0.47 | $2.48 | ||
| Q2 24 | $0.16 | $2.07 |
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 | $3.7B |
| 总债务越低越好 | — | $10.9B |
| 股东权益账面价值 | $63.0B | $3.3B |
| 总资产 | $76.9B | $35.4B |
| 负债/权益比越低杠杆越低 | — | 3.29× |
8季度趋势，按日历期对齐
现金及短期投资AMDMMM
| Q1 26 | — | $3.7B | ||
| Q4 25 | $10.6B | — | ||
| Q3 25 | $7.2B | — | ||
| Q2 25 | $5.9B | — | ||
| Q1 25 | $7.3B | — | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $5.3B | — |
总债务AMDMMM
| Q1 26 | — | $10.9B | ||
| Q4 25 | — | $12.6B | ||
| Q3 25 | — | $12.6B | ||
| Q2 25 | — | $13.1B | ||
| Q1 25 | — | $13.5B | ||
| Q4 24 | — | $13.0B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | $13.1B |
股东权益AMDMMM
| Q1 26 | — | $3.3B | ||
| Q4 25 | $63.0B | $4.7B | ||
| Q3 25 | $60.8B | $4.6B | ||
| Q2 25 | $59.7B | $4.3B | ||
| Q1 25 | $57.9B | $4.5B | ||
| Q4 24 | $57.6B | $3.8B | ||
| Q3 24 | $57.0B | $4.6B | ||
| Q2 24 | $56.5B | $3.9B |
总资产AMDMMM
| Q1 26 | — | $35.4B | ||
| Q4 25 | $76.9B | $37.7B | ||
| Q3 25 | $76.9B | $37.6B | ||
| Q2 25 | $74.8B | $38.0B | ||
| Q1 25 | $71.5B | $40.0B | ||
| Q4 24 | $69.2B | $39.9B | ||
| Q3 24 | $69.6B | $40.9B | ||
| Q2 24 | $67.9B | $43.4B |
负债/权益比AMDMMM
| Q1 26 | — | 3.29× | ||
| Q4 25 | — | 2.68× | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 3.06× | ||
| Q1 25 | — | 3.02× | ||
| Q4 24 | — | 3.40× | ||
| Q3 24 | — | 2.84× | ||
| Q2 24 | — | 3.34× |
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 | $2.0B |
| 自由现金流率自由现金流/营收 | 23.2% | 33.6% |
| 资本支出强度资本支出/营收 | 2.2% | — |
| 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 | $3.7B |
8季度趋势，按日历期对齐
经营现金流AMDMMM
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $1.6B | ||
| Q3 25 | $2.2B | $1.8B | ||
| Q2 25 | $2.0B | $-954.0M | ||
| Q1 25 | $939.0M | $-79.0M | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $628.0M | $-1.8B | ||
| Q2 24 | $593.0M | $1.0B |
自由现金流AMDMMM
| Q1 26 | — | $2.0B | ||
| Q4 25 | $2.4B | $1.3B | ||
| Q3 25 | $1.9B | $1.5B | ||
| Q2 25 | $1.7B | $-1.2B | ||
| Q1 25 | $727.0M | $-315.0M | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | $496.0M | $-2.0B | ||
| Q2 24 | $439.0M | $752.0M |
自由现金流率AMDMMM
| Q1 26 | — | 33.6% | ||
| Q4 25 | 23.2% | 21.8% | ||
| Q3 25 | 20.6% | 23.6% | ||
| Q2 25 | 22.5% | -18.3% | ||
| Q1 25 | 9.8% | -5.3% | ||
| Q4 24 | 14.2% | 25.4% | ||
| Q3 24 | 7.3% | -32.3% | ||
| Q2 24 | 7.5% | 12.0% |
资本支出强度AMDMMM
| Q1 26 | — | — | ||
| Q4 25 | 2.2% | 4.0% | ||
| Q3 25 | 2.8% | 3.3% | ||
| Q2 25 | 3.7% | 3.3% | ||
| Q1 25 | 2.9% | 4.0% | ||
| Q4 24 | 2.7% | 4.8% | ||
| Q3 24 | 1.9% | 3.9% | ||
| Q2 24 | 2.6% | 4.3% |
现金转化率AMDMMM
| Q1 26 | — | — | ||
| Q4 25 | 1.72× | 2.74× | ||
| Q3 25 | 1.74× | 2.11× | ||
| Q2 25 | 2.31× | -1.32× | ||
| Q1 25 | 1.32× | -0.07× | ||
| Q4 24 | 2.70× | 2.50× | ||
| Q3 24 | 0.81× | -1.30× | ||
| Q2 24 | 2.24× | 0.89× |
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% |
MMM
| Safety and Industrial business segment | $2.9B | 49% |
| Transportation and Electronics business segment | $1.8B | 31% |
| Consumer business segment | $1.1B | 19% |
| Corporate | $121.0M | 2% |
