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超威半导体（AMD）与思佳讯（SWKS）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思佳讯的9.9倍（$10.3B vs $1.0B），超威半导体净利率更高（14.7% vs 7.6%，领先7.1%），超威半导体同比增速更快（34.1% vs 8.6%），超威半导体自由现金流更多（$2.4B vs $339.0M），过去两年超威半导体的营收复合增速更高（37.0% vs -0.5%）
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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
AMD vs SWKS — 直观对比
营收规模更大
AMD
是对方的9.9倍
$1.0B
营收增速更快
AMD
高出25.5%
8.6%
净利率更高
AMD
高出7.1%
7.6%
自由现金流更多
AMD
多$2.0B
$339.0M
两年增速更快
AMD
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $1.0B |
| 净利润 | $1.5B | $79.2M |
| 毛利率 | 54.3% | 41.3% |
| 营业利润率 | 17.1% | 10.0% |
| 净利率 | 14.7% | 7.6% |
| 营收同比 | 34.1% | 8.6% |
| 净利润同比 | 213.5% | 15.3% |
| 每股收益（稀释后） | $0.92 | $0.53 |
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AMDSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $10.3B | $1.1B | ||
| Q3 25 | $9.2B | — | ||
| Q2 25 | $7.7B | $965.0M | ||
| Q1 25 | $7.4B | $953.2M | ||
| Q4 24 | $7.7B | $1.1B | ||
| Q3 24 | $6.8B | $1.0B | ||
| Q2 24 | $5.8B | $905.5M |
净利润AMDSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $1.5B | $141.4M | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $872.0M | $105.0M | ||
| Q1 25 | $709.0M | $68.7M | ||
| Q4 24 | $482.0M | $162.0M | ||
| Q3 24 | $771.0M | $60.5M | ||
| Q2 24 | $265.0M | $120.9M |
毛利率AMDSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | 54.3% | 40.7% | ||
| Q3 25 | 51.7% | — | ||
| Q2 25 | 39.8% | 41.6% | ||
| Q1 25 | 50.2% | 41.1% | ||
| Q4 24 | 50.7% | 41.4% | ||
| Q3 24 | 50.1% | 41.9% | ||
| Q2 24 | 49.1% | 40.2% |
营业利润率AMDSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | 17.1% | 10.1% | ||
| Q3 25 | 13.7% | — | ||
| Q2 25 | -1.7% | 11.5% | ||
| Q1 25 | 10.8% | 10.2% | ||
| Q4 24 | 11.4% | 16.9% | ||
| Q3 24 | 10.6% | 5.8% | ||
| Q2 24 | 4.6% | 14.4% |
净利率AMDSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | 14.7% | 12.9% | ||
| Q3 25 | 13.4% | — | ||
| Q2 25 | 11.3% | 10.9% | ||
| Q1 25 | 9.5% | 7.2% | ||
| Q4 24 | 6.3% | 15.2% | ||
| Q3 24 | 11.3% | 5.9% | ||
| Q2 24 | 4.5% | 13.4% |
每股收益（稀释后）AMDSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $0.92 | $0.95 | ||
| Q3 25 | $0.75 | — | ||
| Q2 25 | $0.54 | $0.70 | ||
| Q1 25 | $0.44 | $0.43 | ||
| Q4 24 | $0.30 | $1.00 | ||
| Q3 24 | $0.47 | $0.36 | ||
| Q2 24 | $0.16 | $0.75 |
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 | $1.6B |
| 总债务越低越好 | — | $496.6M |
| 股东权益账面价值 | $63.0B | $5.8B |
| 总资产 | $76.9B | $7.9B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资AMDSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $10.6B | $1.4B | ||
| Q3 25 | $7.2B | — | ||
| Q2 25 | $5.9B | $1.3B | ||
| Q1 25 | $7.3B | $1.5B | ||
| Q4 24 | $5.1B | $1.7B | ||
| Q3 24 | $4.5B | $1.6B | ||
| Q2 24 | $5.3B | $1.3B |
总债务AMDSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | — | $496.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $496.2M | ||
| Q1 25 | — | $995.1M | ||
| Q4 24 | — | $994.7M | ||
| Q3 24 | — | $994.3M | ||
| Q2 24 | — | $994.0M |
股东权益AMDSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $63.0B | $5.8B | ||
| Q3 25 | $60.8B | — | ||
| Q2 25 | $59.7B | $5.7B | ||
| Q1 25 | $57.9B | $5.9B | ||
| Q4 24 | $57.6B | $6.4B | ||
| Q3 24 | $57.0B | $6.3B | ||
| Q2 24 | $56.5B | $6.3B |
总资产AMDSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $76.9B | $7.9B | ||
| Q3 25 | $76.9B | — | ||
| Q2 25 | $74.8B | $7.7B | ||
| Q1 25 | $71.5B | $7.9B | ||
| Q4 24 | $69.2B | $8.3B | ||
| Q3 24 | $69.6B | $8.3B | ||
| Q2 24 | $67.9B | $8.2B |
负债/权益比AMDSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.09× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.16× |
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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $339.0M |
| 自由现金流率自由现金流/营收 | 23.2% | 32.7% |
| 资本支出强度资本支出/营收 | 2.2% | 5.5% |
| 现金转化率经营现金流/净利润 | 1.72× | 4.99× |
| 过去12个月自由现金流最近4个季度 | $6.7B | $1.1B |
8季度趋势，按日历期对齐
经营现金流AMDSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $2.6B | $200.0M | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.0B | $314.2M | ||
| Q1 25 | $939.0M | $409.4M | ||
| Q4 24 | $1.3B | $377.2M | ||
| Q3 24 | $628.0M | $476.1M | ||
| Q2 24 | $593.0M | $273.4M |
自由现金流AMDSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $2.4B | $144.0M | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | $252.7M | ||
| Q1 25 | $727.0M | $370.9M | ||
| Q4 24 | $1.1B | $338.2M | ||
| Q3 24 | $496.0M | $393.3M | ||
| Q2 24 | $439.0M | $249.0M |
自由现金流率AMDSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 23.2% | 13.1% | ||
| Q3 25 | 20.6% | — | ||
| Q2 25 | 22.5% | 26.2% | ||
| Q1 25 | 9.8% | 38.9% | ||
| Q4 24 | 14.2% | 31.7% | ||
| Q3 24 | 7.3% | 38.4% | ||
| Q2 24 | 7.5% | 27.5% |
资本支出强度AMDSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 2.2% | 5.1% | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | 3.7% | 6.4% | ||
| Q1 25 | 2.9% | 4.0% | ||
| Q4 24 | 2.7% | 3.6% | ||
| Q3 24 | 1.9% | 8.1% | ||
| Q2 24 | 2.6% | 2.7% |
现金转化率AMDSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | 1.72× | 1.41× | ||
| Q3 25 | 1.74× | — | ||
| Q2 25 | 2.31× | 2.99× | ||
| Q1 25 | 1.32× | 5.96× | ||
| Q4 24 | 2.70× | 2.33× | ||
| Q3 24 | 0.81× | 7.87× | ||
| Q2 24 | 2.24× | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
