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超威半导体（AMD）与Sunoco LP（SUN）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Sunoco LP的1.2倍（$10.3B vs $8.6B），超威半导体净利率更高（14.7% vs 1.2%，领先13.5%），Sunoco LP同比增速更快（63.2% vs 34.1%），过去两年超威半导体的营收复合增速更高（37.0% vs 25.1%）
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。
Sunoco LP是总部位于美国得克萨斯州达拉斯的业主有限合伙企业，在特拉华州注册成立，历史最早可追溯至1886年。公司最初为垂直一体化能源企业，现已转型为燃油分销商及能源基础设施运营商，此前曾涉足油气勘探开采、炼化、化工生产及燃油零售业务，目前上述业务均已剥离。
AMD vs SUN — 直观对比
营收规模更大
AMD
是对方的1.2倍
$8.6B
营收增速更快
SUN
高出29.1%
34.1%
净利率更高
AMD
高出13.5%
1.2%
两年增速更快
AMD
近两年复合增速
25.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $8.6B |
| 净利润 | $1.5B | $101.0M |
| 毛利率 | 54.3% | 10.7% |
| 营业利润率 | 17.1% | 2.1% |
| 净利率 | 14.7% | 1.2% |
| 营收同比 | 34.1% | 63.2% |
| 净利润同比 | 213.5% | -28.4% |
| 每股收益（稀释后） | $0.92 | — |
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AMDSUN
| Q4 25 | $10.3B | $8.6B | ||
| Q3 25 | $9.2B | $6.0B | ||
| Q2 25 | $7.7B | $5.4B | ||
| Q1 25 | $7.4B | $5.2B | ||
| Q4 24 | $7.7B | $5.3B | ||
| Q3 24 | $6.8B | $5.8B | ||
| Q2 24 | $5.8B | $6.2B | ||
| Q1 24 | $5.5B | $5.5B |
净利润AMDSUN
| Q4 25 | $1.5B | $101.0M | ||
| Q3 25 | $1.2B | $133.0M | ||
| Q2 25 | $872.0M | $86.0M | ||
| Q1 25 | $709.0M | $207.0M | ||
| Q4 24 | $482.0M | $141.0M | ||
| Q3 24 | $771.0M | $2.0M | ||
| Q2 24 | $265.0M | $493.0M | ||
| Q1 24 | $123.0M | $230.0M |
毛利率AMDSUN
| Q4 25 | 54.3% | 10.7% | ||
| Q3 25 | 51.7% | 10.7% | ||
| Q2 25 | 39.8% | 10.6% | ||
| Q1 25 | 50.2% | 12.6% | ||
| Q4 24 | 50.7% | 11.9% | ||
| Q3 24 | 50.1% | 7.4% | ||
| Q2 24 | 49.1% | 9.2% | ||
| Q1 24 | 46.8% | 8.8% |
营业利润率AMDSUN
| Q4 25 | 17.1% | 2.1% | ||
| Q3 25 | 13.7% | 4.2% | ||
| Q2 25 | -1.7% | 3.8% | ||
| Q1 25 | 10.8% | 5.7% | ||
| Q4 24 | 11.4% | 4.5% | ||
| Q3 24 | 10.6% | 1.9% | ||
| Q2 24 | 4.6% | 2.4% | ||
| Q1 24 | 0.7% | 5.4% |
净利率AMDSUN
| Q4 25 | 14.7% | 1.2% | ||
| Q3 25 | 13.4% | 2.2% | ||
| Q2 25 | 11.3% | 1.6% | ||
| Q1 25 | 9.5% | 4.0% | ||
| Q4 24 | 6.3% | 2.7% | ||
| Q3 24 | 11.3% | 0.0% | ||
| Q2 24 | 4.5% | 8.0% | ||
| Q1 24 | 2.2% | 4.2% |
每股收益（稀释后）AMDSUN
| Q4 25 | $0.92 | — | ||
| Q3 25 | $0.75 | — | ||
| Q2 25 | $0.54 | — | ||
| Q1 25 | $0.44 | — | ||
| Q4 24 | $0.30 | — | ||
| Q3 24 | $0.47 | — | ||
| Q2 24 | $0.16 | — | ||
| Q1 24 | $0.07 | — |
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 | $891.0M |
| 总债务越低越好 | — | $13.4B |
| 股东权益账面价值 | $63.0B | — |
| 总资产 | $76.9B | $28.4B |
| 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AMDSUN
| Q4 25 | $10.6B | $891.0M | ||
| Q3 25 | $7.2B | — | ||
| Q2 25 | $5.9B | — | ||
| Q1 25 | $7.3B | — | ||
| Q4 24 | $5.1B | $94.0M | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | $6.0B | — |
总债务AMDSUN
| Q4 25 | — | $13.4B | ||
| Q3 25 | — | $9.5B | ||
| Q2 25 | — | $7.8B | ||
| Q1 25 | — | $7.7B | ||
| Q4 24 | — | $7.5B | ||
| Q3 24 | — | $7.3B | ||
| Q2 24 | — | $7.3B | ||
| Q1 24 | — | $3.8B |
股东权益AMDSUN
| Q4 25 | $63.0B | — | ||
| Q3 25 | $60.8B | — | ||
| Q2 25 | $59.7B | — | ||
| Q1 25 | $57.9B | — | ||
| Q4 24 | $57.6B | — | ||
| Q3 24 | $57.0B | — | ||
| Q2 24 | $56.5B | — | ||
| Q1 24 | $56.2B | — |
总资产AMDSUN
| Q4 25 | $76.9B | $28.4B | ||
| Q3 25 | $76.9B | $17.8B | ||
| Q2 25 | $74.8B | $14.4B | ||
| Q1 25 | $71.5B | $14.3B | ||
| Q4 24 | $69.2B | $14.4B | ||
| Q3 24 | $69.6B | $14.1B | ||
| Q2 24 | $67.9B | $14.5B | ||
| Q1 24 | $67.9B | $7.4B |
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 | $392.0M |
| 自由现金流经营现金流 - 资本支出 | $2.4B | — |
| 自由现金流率自由现金流/营收 | 23.2% | — |
| 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× | 3.88× |
| 过去12个月自由现金流最近4个季度 | $6.7B | — |
8季度趋势，按日历期对齐
经营现金流AMDSUN
| Q4 25 | $2.6B | $392.0M | ||
| Q3 25 | $2.2B | $401.0M | ||
| Q2 25 | $2.0B | $243.0M | ||
| Q1 25 | $939.0M | $156.0M | ||
| Q4 24 | $1.3B | $123.0M | ||
| Q3 24 | $628.0M | $210.0M | ||
| Q2 24 | $593.0M | $-70.0M | ||
| Q1 24 | $521.0M | $286.0M |
自由现金流AMDSUN
| Q4 25 | $2.4B | — | ||
| Q3 25 | $1.9B | $244.0M | ||
| Q2 25 | $1.7B | $83.0M | ||
| Q1 25 | $727.0M | $55.0M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $496.0M | $109.0M | ||
| Q2 24 | $439.0M | $-140.0M | ||
| Q1 24 | $379.0M | $245.0M |
自由现金流率AMDSUN
| Q4 25 | 23.2% | — | ||
| Q3 25 | 20.6% | 4.0% | ||
| Q2 25 | 22.5% | 1.5% | ||
| Q1 25 | 9.8% | 1.1% | ||
| Q4 24 | 14.2% | — | ||
| Q3 24 | 7.3% | 1.9% | ||
| Q2 24 | 7.5% | -2.3% | ||
| Q1 24 | 6.9% | 4.5% |
资本支出强度AMDSUN
| Q4 25 | 2.2% | — | ||
| Q3 25 | 2.8% | 2.6% | ||
| Q2 25 | 3.7% | 3.0% | ||
| Q1 25 | 2.9% | 2.0% | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 1.9% | 1.8% | ||
| Q2 24 | 2.6% | 1.1% | ||
| Q1 24 | 2.6% | 0.7% |
现金转化率AMDSUN
| Q4 25 | 1.72× | 3.88× | ||
| Q3 25 | 1.74× | 3.02× | ||
| Q2 25 | 2.31× | 2.83× | ||
| Q1 25 | 1.32× | 0.75× | ||
| Q4 24 | 2.70× | 0.87× | ||
| Q3 24 | 0.81× | 105.00× | ||
| Q2 24 | 2.24× | -0.14× | ||
| 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% |
SUN
| Fuel Distribution | $8.2B | 95% |
| Service Revenue | $440.0M | 5% |
| Lease Revenue | $40.0M | 0% |
| Lease Income | $12.0M | 0% |
