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超威半导体（AMD）与特斯拉（TSLA）财务数据对比。点击上方公司名可切换其他公司
特斯拉的季度营收约是超威半导体的2.2倍（$22.4B vs $10.3B），超威半导体净利率更高（14.7% vs 2.1%，领先12.6%），超威半导体同比增速更快（34.1% vs 16.0%），超威半导体自由现金流更多（$2.4B vs $1.4B），过去两年超威半导体的营收复合增速更高（37.0% vs -6.3%）
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。
特斯拉是总部位于美国得克萨斯州奥斯汀的跨国汽车与清洁能源企业，主营业务包括纯电动汽车、家用到电网级固定式储能电池、太阳能板及太阳能屋顶瓦的设计、生产与销售，同时提供相关配套产品与服务，致力于推动全球能源向可持续方向转型。
AMD vs TSLA — 直观对比
营收规模更大
TSLA
是对方的2.2倍
$10.3B
营收增速更快
AMD
高出18.1%
16.0%
净利率更高
AMD
高出12.6%
2.1%
自由现金流更多
AMD
多$934.0M
$1.4B
两年增速更快
AMD
近两年复合增速
-6.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $22.4B |
| 净利润 | $1.5B | $477.0M |
| 毛利率 | 54.3% | 21.1% |
| 营业利润率 | 17.1% | 4.2% |
| 净利率 | 14.7% | 2.1% |
| 营收同比 | 34.1% | 16.0% |
| 净利润同比 | 213.5% | 17.0% |
| 每股收益（稀释后） | $0.92 | $0.13 |
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AMDTSLA
| Q1 26 | — | $22.4B | ||
| Q4 25 | $10.3B | $24.9B | ||
| Q3 25 | $9.2B | $28.1B | ||
| Q2 25 | $7.7B | $22.5B | ||
| Q1 25 | $7.4B | $19.3B | ||
| Q4 24 | $7.7B | $25.7B | ||
| Q3 24 | $6.8B | $25.2B | ||
| Q2 24 | $5.8B | $25.5B |
净利润AMDTSLA
| Q1 26 | — | $477.0M | ||
| Q4 25 | $1.5B | $840.0M | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $872.0M | $1.2B | ||
| Q1 25 | $709.0M | $409.0M | ||
| Q4 24 | $482.0M | $2.3B | ||
| Q3 24 | $771.0M | $2.2B | ||
| Q2 24 | $265.0M | $1.5B |
毛利率AMDTSLA
| Q1 26 | — | 21.1% | ||
| Q4 25 | 54.3% | 20.1% | ||
| Q3 25 | 51.7% | 18.0% | ||
| Q2 25 | 39.8% | 17.2% | ||
| Q1 25 | 50.2% | 16.3% | ||
| Q4 24 | 50.7% | 16.3% | ||
| Q3 24 | 50.1% | 19.8% | ||
| Q2 24 | 49.1% | 18.0% |
营业利润率AMDTSLA
| Q1 26 | — | 4.2% | ||
| Q4 25 | 17.1% | 5.7% | ||
| Q3 25 | 13.7% | 5.8% | ||
| Q2 25 | -1.7% | 4.1% | ||
| Q1 25 | 10.8% | 2.1% | ||
| Q4 24 | 11.4% | 6.2% | ||
| Q3 24 | 10.6% | 10.8% | ||
| Q2 24 | 4.6% | 6.3% |
净利率AMDTSLA
| Q1 26 | — | 2.1% | ||
| Q4 25 | 14.7% | 3.4% | ||
| Q3 25 | 13.4% | 4.9% | ||
| Q2 25 | 11.3% | 5.2% | ||
| Q1 25 | 9.5% | 2.1% | ||
| Q4 24 | 6.3% | 9.0% | ||
| Q3 24 | 11.3% | 8.6% | ||
| Q2 24 | 4.5% | 5.8% |
每股收益（稀释后）AMDTSLA
| Q1 26 | — | $0.13 | ||
| Q4 25 | $0.92 | $0.24 | ||
| Q3 25 | $0.75 | $0.39 | ||
| Q2 25 | $0.54 | $0.33 | ||
| Q1 25 | $0.44 | $0.12 | ||
| Q4 24 | $0.30 | $0.66 | ||
| Q3 24 | $0.47 | $0.62 | ||
| Q2 24 | $0.16 | $0.42 |
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 | $81.7B |
| 总债务越低越好 | — | $7.5B |
| 股东权益账面价值 | $63.0B | $74.7B |
| 总资产 | $76.9B | $125.1B |
| 负债/权益比越低杠杆越低 | — | 0.10× |
8季度趋势，按日历期对齐
现金及短期投资AMDTSLA
| Q1 26 | — | $81.7B | ||
| Q4 25 | $10.6B | $44.1B | ||
| Q3 25 | $7.2B | $41.6B | ||
| Q2 25 | $5.9B | $36.8B | ||
| Q1 25 | $7.3B | $37.0B | ||
| Q4 24 | $5.1B | $36.6B | ||
| Q3 24 | $4.5B | $33.6B | ||
| Q2 24 | $5.3B | $30.7B |
总债务AMDTSLA
| Q1 26 | — | $7.5B | ||
| Q4 25 | — | $6.6B | ||
| Q3 25 | — | $5.6B | ||
| Q2 25 | — | $5.0B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $5.5B | ||
| Q3 24 | — | $5.3B | ||
| Q2 24 | — | $5.3B |
股东权益AMDTSLA
| Q1 26 | — | $74.7B | ||
| Q4 25 | $63.0B | $82.1B | ||
| Q3 25 | $60.8B | $80.0B | ||
| Q2 25 | $59.7B | $77.3B | ||
| Q1 25 | $57.9B | $74.7B | ||
| Q4 24 | $57.6B | $72.9B | ||
| Q3 24 | $57.0B | $69.9B | ||
| Q2 24 | $56.5B | $66.5B |
总资产AMDTSLA
| Q1 26 | — | $125.1B | ||
| Q4 25 | $76.9B | $137.8B | ||
| Q3 25 | $76.9B | $133.7B | ||
| Q2 25 | $74.8B | $128.6B | ||
| Q1 25 | $71.5B | $125.1B | ||
| Q4 24 | $69.2B | $122.1B | ||
| Q3 24 | $69.6B | $119.9B | ||
| Q2 24 | $67.9B | $112.8B |
负债/权益比AMDTSLA
| Q1 26 | — | 0.10× | ||
| Q4 25 | — | 0.08× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.06× | ||
| Q1 25 | — | 0.07× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | 0.08× | ||
| Q2 24 | — | 0.08× |
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 | $3.9B |
| 自由现金流经营现金流 - 资本支出 | $2.4B | $1.4B |
| 自由现金流率自由现金流/营收 | 23.2% | 6.5% |
| 资本支出强度资本支出/营收 | 2.2% | 11.1% |
| 现金转化率经营现金流/净利润 | 1.72× | 8.25× |
| 过去12个月自由现金流最近4个季度 | $6.7B | $7.0B |
8季度趋势，按日历期对齐
经营现金流AMDTSLA
| Q1 26 | — | $3.9B | ||
| Q4 25 | $2.6B | $3.8B | ||
| Q3 25 | $2.2B | $6.2B | ||
| Q2 25 | $2.0B | $2.5B | ||
| Q1 25 | $939.0M | $2.2B | ||
| Q4 24 | $1.3B | $4.8B | ||
| Q3 24 | $628.0M | $6.3B | ||
| Q2 24 | $593.0M | $3.6B |
自由现金流AMDTSLA
| Q1 26 | — | $1.4B | ||
| Q4 25 | $2.4B | $1.4B | ||
| Q3 25 | $1.9B | $4.0B | ||
| Q2 25 | $1.7B | $146.0M | ||
| Q1 25 | $727.0M | $664.0M | ||
| Q4 24 | $1.1B | $2.0B | ||
| Q3 24 | $496.0M | $2.7B | ||
| Q2 24 | $439.0M | $1.3B |
自由现金流率AMDTSLA
| Q1 26 | — | 6.5% | ||
| Q4 25 | 23.2% | 5.7% | ||
| Q3 25 | 20.6% | 14.2% | ||
| Q2 25 | 22.5% | 0.6% | ||
| Q1 25 | 9.8% | 3.4% | ||
| Q4 24 | 14.2% | 7.9% | ||
| Q3 24 | 7.3% | 10.9% | ||
| Q2 24 | 7.5% | 5.3% |
资本支出强度AMDTSLA
| Q1 26 | — | 11.1% | ||
| Q4 25 | 2.2% | 9.6% | ||
| Q3 25 | 2.8% | 8.0% | ||
| Q2 25 | 3.7% | 10.6% | ||
| Q1 25 | 2.9% | 7.7% | ||
| Q4 24 | 2.7% | 10.8% | ||
| Q3 24 | 1.9% | 14.0% | ||
| Q2 24 | 2.6% | 8.9% |
现金转化率AMDTSLA
| Q1 26 | — | 8.25× | ||
| Q4 25 | 1.72× | 4.54× | ||
| Q3 25 | 1.74× | 4.54× | ||
| Q2 25 | 2.31× | 2.17× | ||
| Q1 25 | 1.32× | 5.27× | ||
| Q4 24 | 2.70× | 2.08× | ||
| Q3 24 | 0.81× | 2.89× | ||
| Q2 24 | 2.24× | 2.44× |
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% |
TSLA
| Automotive Sales | $15.5B | 69% |
| Services & Other | $3.7B | 17% |
| Energy Generation And Storage | $2.4B | 11% |
| Automotive Leasing | $381.0M | 2% |
| Automotive Regulatory Credits | $380.0M | 2% |
