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超威半导体（AMD）与辉瑞（PFE）财务数据对比。点击上方公司名可切换其他公司
辉瑞的季度营收约是超威半导体的1.7倍（$17.6B vs $10.3B），超威半导体净利率更高（14.7% vs -9.4%，领先24.1%），超威半导体同比增速更快（34.1% vs -1.2%），辉瑞自由现金流更多（$4.5B vs $2.4B），过去两年超威半导体的营收复合增速更高（37.0% vs 8.6%）
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。
辉瑞是总部位于美国纽约曼哈顿The Spiral的跨国制药及生物技术企业，由德国企业家查尔斯·辉瑞与查尔斯·F·埃尔哈特于1849年在纽约创立，是北美地区历史最悠久的制药企业之一，在全球医药健康领域拥有较高的行业影响力。
AMD vs PFE — 直观对比
营收规模更大
PFE
是对方的1.7倍
$10.3B
营收增速更快
AMD
高出35.3%
-1.2%
净利率更高
AMD
高出24.1%
-9.4%
自由现金流更多
PFE
多$2.1B
$2.4B
两年增速更快
AMD
近两年复合增速
8.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $17.6B |
| 净利润 | $1.5B | $-1.6B |
| 毛利率 | 54.3% | 70.0% |
| 营业利润率 | 17.1% | -9.4% |
| 净利率 | 14.7% | -9.4% |
| 营收同比 | 34.1% | -1.2% |
| 净利润同比 | 213.5% | -501.7% |
| 每股收益（稀释后） | $0.92 | $-0.29 |
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AMDPFE
| Q4 25 | $10.3B | $17.6B | ||
| Q3 25 | $9.2B | $16.7B | ||
| Q2 25 | $7.7B | $14.7B | ||
| Q1 25 | $7.4B | $13.7B | ||
| Q4 24 | $7.7B | $17.8B | ||
| Q3 24 | $6.8B | $17.7B | ||
| Q2 24 | $5.8B | $13.3B | ||
| Q1 24 | $5.5B | $14.9B |
净利润AMDPFE
| Q4 25 | $1.5B | $-1.6B | ||
| Q3 25 | $1.2B | $3.5B | ||
| Q2 25 | $872.0M | $2.9B | ||
| Q1 25 | $709.0M | $3.0B | ||
| Q4 24 | $482.0M | $410.0M | ||
| Q3 24 | $771.0M | $4.5B | ||
| Q2 24 | $265.0M | $41.0M | ||
| Q1 24 | $123.0M | $3.1B |
毛利率AMDPFE
| Q4 25 | 54.3% | 70.0% | ||
| Q3 25 | 51.7% | 74.9% | ||
| Q2 25 | 39.8% | 74.2% | ||
| Q1 25 | 50.2% | 79.3% | ||
| Q4 24 | 50.7% | 66.7% | ||
| Q3 24 | 50.1% | 70.3% | ||
| Q2 24 | 49.1% | 75.2% | ||
| Q1 24 | 46.8% | 77.3% |
营业利润率AMDPFE
| Q4 25 | 17.1% | -9.4% | ||
| Q3 25 | 13.7% | 20.0% | ||
| Q2 25 | -1.7% | 20.8% | ||
| Q1 25 | 10.8% | 20.3% | ||
| Q4 24 | 11.4% | -0.1% | ||
| Q3 24 | 10.6% | 26.6% | ||
| Q2 24 | 4.6% | -0.8% | ||
| Q1 24 | 0.7% | 23.0% |
净利率AMDPFE
| Q4 25 | 14.7% | -9.4% | ||
| Q3 25 | 13.4% | 21.3% | ||
| Q2 25 | 11.3% | 19.9% | ||
| Q1 25 | 9.5% | 21.6% | ||
| Q4 24 | 6.3% | 2.3% | ||
| Q3 24 | 11.3% | 25.2% | ||
| Q2 24 | 4.5% | 0.3% | ||
| Q1 24 | 2.2% | 20.9% |
每股收益（稀释后）AMDPFE
| Q4 25 | $0.92 | $-0.29 | ||
| Q3 25 | $0.75 | $0.62 | ||
| Q2 25 | $0.54 | $0.51 | ||
| Q1 25 | $0.44 | $0.52 | ||
| Q4 24 | $0.30 | $0.07 | ||
| Q3 24 | $0.47 | $0.78 | ||
| Q2 24 | $0.16 | $0.01 | ||
| Q1 24 | $0.07 | $0.55 |
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 | $1.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $63.0B | $86.5B |
| 总资产 | $76.9B | $208.2B |
| 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AMDPFE
| Q4 25 | $10.6B | $1.1B | ||
| Q3 25 | $7.2B | $1.3B | ||
| Q2 25 | $5.9B | $1.6B | ||
| Q1 25 | $7.3B | $1.4B | ||
| Q4 24 | $5.1B | $1.0B | ||
| Q3 24 | $4.5B | $1.1B | ||
| Q2 24 | $5.3B | $1.1B | ||
| Q1 24 | $6.0B | $719.0M |
股东权益AMDPFE
| Q4 25 | $63.0B | $86.5B | ||
| Q3 25 | $60.8B | $92.8B | ||
| Q2 25 | $59.7B | $88.7B | ||
| Q1 25 | $57.9B | $90.3B | ||
| Q4 24 | $57.6B | $88.2B | ||
| Q3 24 | $57.0B | $92.3B | ||
| Q2 24 | $56.5B | $87.7B | ||
| Q1 24 | $56.2B | $92.3B |
总资产AMDPFE
| Q4 25 | $76.9B | $208.2B | ||
| Q3 25 | $76.9B | $208.7B | ||
| Q2 25 | $74.8B | $206.1B | ||
| Q1 25 | $71.5B | $208.0B | ||
| Q4 24 | $69.2B | $213.4B | ||
| Q3 24 | $69.6B | $219.5B | ||
| Q2 24 | $67.9B | $216.2B | ||
| Q1 24 | $67.9B | $221.1B |
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 | $5.3B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $4.5B |
| 自由现金流率自由现金流/营收 | 23.2% | 25.6% |
| 资本支出强度资本支出/营收 | 2.2% | 4.8% |
| 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 | $9.1B |
8季度趋势，按日历期对齐
经营现金流AMDPFE
| Q4 25 | $2.6B | $5.3B | ||
| Q3 25 | $2.2B | $4.6B | ||
| Q2 25 | $2.0B | $-582.0M | ||
| Q1 25 | $939.0M | $2.3B | ||
| Q4 24 | $1.3B | $6.7B | ||
| Q3 24 | $628.0M | $6.7B | ||
| Q2 24 | $593.0M | $-1.8B | ||
| Q1 24 | $521.0M | $1.1B |
自由现金流AMDPFE
| Q4 25 | $2.4B | $4.5B | ||
| Q3 25 | $1.9B | $4.0B | ||
| Q2 25 | $1.7B | $-1.2B | ||
| Q1 25 | $727.0M | $1.8B | ||
| Q4 24 | $1.1B | $5.8B | ||
| Q3 24 | $496.0M | $6.1B | ||
| Q2 24 | $439.0M | $-2.4B | ||
| Q1 24 | $379.0M | $386.0M |
自由现金流率AMDPFE
| Q4 25 | 23.2% | 25.6% | ||
| Q3 25 | 20.6% | 24.0% | ||
| Q2 25 | 22.5% | -8.2% | ||
| Q1 25 | 9.8% | 12.9% | ||
| Q4 24 | 14.2% | 32.7% | ||
| Q3 24 | 7.3% | 34.3% | ||
| Q2 24 | 7.5% | -18.2% | ||
| Q1 24 | 6.9% | 2.6% |
资本支出强度AMDPFE
| Q4 25 | 2.2% | 4.8% | ||
| Q3 25 | 2.8% | 3.6% | ||
| Q2 25 | 3.7% | 4.2% | ||
| Q1 25 | 2.9% | 4.1% | ||
| Q4 24 | 2.7% | 5.2% | ||
| Q3 24 | 1.9% | 3.7% | ||
| Q2 24 | 2.6% | 4.8% | ||
| Q1 24 | 2.6% | 4.7% |
现金转化率AMDPFE
| Q4 25 | 1.72× | — | ||
| Q3 25 | 1.74× | 1.30× | ||
| Q2 25 | 2.31× | -0.20× | ||
| Q1 25 | 1.32× | 0.79× | ||
| Q4 24 | 2.70× | 16.39× | ||
| Q3 24 | 0.81× | 1.50× | ||
| Q2 24 | 2.24× | -43.44× | ||
| Q1 24 | 4.24× | 0.35× |
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% |
PFE
| U.S.Commercial Division | $9.0B | 51% |
| Specialty Care | $4.8B | 27% |
| Total Alliance Biopharmaceuticals | $2.6B | 15% |
| Royalty | $480.0M | 3% |
| Pfizer Centre One | $409.0M | 2% |
