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超威半导体（AMD）与纽蒙特（NEM）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纽蒙特的1.4倍（$10.3B vs $7.3B），纽蒙特净利率更高（26.0% vs 14.7%，领先11.3%），超威半导体同比增速更快（34.1% vs -31.4%），超威半导体自由现金流更多（$2.4B vs $1.2B），过去两年超威半导体的营收复合增速更高（37.0% vs 28.8%）
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。
纽蒙特公司是总部位于美国科罗拉多州丹佛市的金矿企业，为全球规模最大的金矿开采集团。公司成立于1921年，在全球十余个国家持有金矿资产，还与巴里克矿业共同持有内华达金矿的部分股权，除黄金外也开采铜、银、锌、铅等多种金属。
AMD vs NEM — 直观对比
营收规模更大
AMD
是对方的1.4倍
$7.3B
营收增速更快
AMD
高出65.5%
-31.4%
净利率更高
NEM
高出11.3%
14.7%
自由现金流更多
AMD
多$1.2B
$1.2B
两年增速更快
AMD
近两年复合增速
28.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $7.3B |
| 净利润 | $1.5B | $1.9B |
| 毛利率 | 54.3% | — |
| 营业利润率 | 17.1% | — |
| 净利率 | 14.7% | 26.0% |
| 营收同比 | 34.1% | -31.4% |
| 净利润同比 | 213.5% | -8.3% |
| 每股收益（稀释后） | $0.92 | $1.68 |
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AMDNEM
| Q1 26 | — | $7.3B | ||
| Q4 25 | $10.3B | $6.8B | ||
| Q3 25 | $9.2B | $5.5B | ||
| Q2 25 | $7.7B | $5.3B | ||
| Q1 25 | $7.4B | $5.0B | ||
| Q4 24 | $7.7B | $5.7B | ||
| Q3 24 | $6.8B | $4.6B | ||
| Q2 24 | $5.8B | $4.4B |
净利润AMDNEM
| Q1 26 | — | $1.9B | ||
| Q4 25 | $1.5B | $1.3B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $872.0M | $2.1B | ||
| Q1 25 | $709.0M | $1.9B | ||
| Q4 24 | $482.0M | $1.4B | ||
| Q3 24 | $771.0M | $922.0M | ||
| Q2 24 | $265.0M | $853.0M |
毛利率AMDNEM
| 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AMDNEM
| Q1 26 | — | — | ||
| Q4 25 | 17.1% | 47.6% | ||
| Q3 25 | 13.7% | 45.4% | ||
| Q2 25 | -1.7% | 58.6% | ||
| Q1 25 | 10.8% | 49.3% | ||
| Q4 24 | 11.4% | 36.3% | ||
| Q3 24 | 10.6% | 23.0% | ||
| Q2 24 | 4.6% | 23.5% |
净利率AMDNEM
| Q1 26 | — | 26.0% | ||
| Q4 25 | 14.7% | 19.1% | ||
| Q3 25 | 13.4% | 33.2% | ||
| Q2 25 | 11.3% | 38.8% | ||
| Q1 25 | 9.5% | 37.7% | ||
| Q4 24 | 6.3% | 24.8% | ||
| Q3 24 | 11.3% | 20.0% | ||
| Q2 24 | 4.5% | 19.4% |
每股收益（稀释后）AMDNEM
| Q1 26 | — | $1.68 | ||
| Q4 25 | $0.92 | $1.19 | ||
| Q3 25 | $0.75 | $1.67 | ||
| Q2 25 | $0.54 | $1.85 | ||
| Q1 25 | $0.44 | $1.68 | ||
| Q4 24 | $0.30 | $1.23 | ||
| Q3 24 | $0.47 | $0.80 | ||
| Q2 24 | $0.16 | $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 | $4.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $63.0B | $31.4B |
| 总资产 | $76.9B | $55.5B |
| 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AMDNEM
| Q1 26 | — | $4.7B | ||
| Q4 25 | $10.6B | $8.2B | ||
| Q3 25 | $7.2B | $6.0B | ||
| Q2 25 | $5.9B | $6.7B | ||
| Q1 25 | $7.3B | $4.7B | ||
| Q4 24 | $5.1B | $3.6B | ||
| Q3 24 | $4.5B | $3.1B | ||
| Q2 24 | $5.3B | $2.7B |
总债务AMDNEM
| Q1 26 | — | — | ||
| Q4 25 | — | $5.1B | ||
| Q3 25 | — | $5.2B | ||
| Q2 25 | — | $7.1B | ||
| Q1 25 | — | $7.5B | ||
| Q4 24 | — | $8.5B | ||
| Q3 24 | — | $8.6B | ||
| Q2 24 | — | $8.7B |
股东权益AMDNEM
| Q1 26 | — | $31.4B | ||
| Q4 25 | $63.0B | $33.9B | ||
| Q3 25 | $60.8B | $33.2B | ||
| Q2 25 | $59.7B | $32.1B | ||
| Q1 25 | $57.9B | $31.2B | ||
| Q4 24 | $57.6B | $29.9B | ||
| Q3 24 | $57.0B | $29.7B | ||
| Q2 24 | $56.5B | $29.4B |
总资产AMDNEM
| Q1 26 | — | $55.5B | ||
| Q4 25 | $76.9B | $57.1B | ||
| Q3 25 | $76.9B | $54.7B | ||
| Q2 25 | $74.8B | $55.2B | ||
| Q1 25 | $71.5B | $55.5B | ||
| Q4 24 | $69.2B | $56.3B | ||
| Q3 24 | $69.6B | $56.2B | ||
| Q2 24 | $67.9B | $55.7B |
负债/权益比AMDNEM
| Q1 26 | — | — | ||
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.22× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | 0.29× | ||
| Q2 24 | — | 0.30× |
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 | $1.2B |
| 自由现金流率自由现金流/营收 | 23.2% | 16.5% |
| 资本支出强度资本支出/营收 | 2.2% | 11.3% |
| 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 | $7.3B |
8季度趋势，按日历期对齐
经营现金流AMDNEM
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $3.6B | ||
| Q3 25 | $2.2B | $2.3B | ||
| Q2 25 | $2.0B | $2.4B | ||
| Q1 25 | $939.0M | $2.0B | ||
| Q4 24 | $1.3B | $2.5B | ||
| Q3 24 | $628.0M | $1.6B | ||
| Q2 24 | $593.0M | $1.4B |
自由现金流AMDNEM
| Q1 26 | — | $1.2B | ||
| Q4 25 | $2.4B | $2.8B | ||
| Q3 25 | $1.9B | $1.6B | ||
| Q2 25 | $1.7B | $1.7B | ||
| Q1 25 | $727.0M | $1.2B | ||
| Q4 24 | $1.1B | $1.6B | ||
| Q3 24 | $496.0M | $771.0M | ||
| Q2 24 | $439.0M | $628.0M |
自由现金流率AMDNEM
| Q1 26 | — | 16.5% | ||
| Q4 25 | 23.2% | 41.3% | ||
| Q3 25 | 20.6% | 28.4% | ||
| Q2 25 | 22.5% | 32.2% | ||
| Q1 25 | 9.8% | 24.1% | ||
| Q4 24 | 14.2% | 28.9% | ||
| Q3 24 | 7.3% | 16.7% | ||
| Q2 24 | 7.5% | 14.3% |
资本支出强度AMDNEM
| Q1 26 | — | 11.3% | ||
| Q4 25 | 2.2% | 11.9% | ||
| Q3 25 | 2.8% | 13.2% | ||
| Q2 25 | 3.7% | 12.7% | ||
| Q1 25 | 2.9% | 16.5% | ||
| Q4 24 | 2.7% | 15.5% | ||
| Q3 24 | 1.9% | 19.0% | ||
| Q2 24 | 2.6% | 18.2% |
现金转化率AMDNEM
| Q1 26 | — | — | ||
| Q4 25 | 1.72× | 2.78× | ||
| Q3 25 | 1.74× | 1.25× | ||
| Q2 25 | 2.31× | 1.16× | ||
| Q1 25 | 1.32× | 1.07× | ||
| Q4 24 | 2.70× | 1.79× | ||
| Q3 24 | 0.81× | 1.79× | ||
| Q2 24 | 2.24× | 1.67× |
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% |
NEM
| Consolidated gold sales, net | $6.0B | 83% |
| Other | $506.0M | 7% |
| Consolidated copper sales, net | $354.0M | 5% |
| Consolidated silver sales, net | $188.0M | 3% |
| Consolidated zinc sales, net | $181.0M | 2% |
| Consolidated lead sales, net | $42.0M | 1% |
