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超威半导体（AMD）与特灵科技（TT）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特灵科技的2.0倍（$10.3B vs $5.1B），超威半导体净利率更高（14.7% vs 11.5%，领先3.2%），超威半导体同比增速更快（34.1% vs 5.5%），过去两年超威半导体的营收复合增速更高（37.0% vs 10.5%）
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。
特灵科技是一家注册地位于爱尔兰的企业，核心业务覆盖采暖、通风、空调及制冷系统领域。品牌历史可追溯至150多年前，历经多次并购与分拆：2008年暖通空调厂商特灵被美国工业工具制造商英格索兰收购，2020年工具业务分拆独立为英格索兰，剩余业务正式更名特灵科技。
AMD vs TT — 直观对比
营收规模更大
AMD
是对方的2.0倍
$5.1B
营收增速更快
AMD
高出28.6%
5.5%
净利率更高
AMD
高出3.2%
11.5%
两年增速更快
AMD
近两年复合增速
10.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $5.1B |
| 净利润 | $1.5B | $591.3M |
| 毛利率 | 54.3% | — |
| 营业利润率 | 17.1% | 15.9% |
| 净利率 | 14.7% | 11.5% |
| 营收同比 | 34.1% | 5.5% |
| 净利润同比 | 213.5% | -2.2% |
| 每股收益（稀释后） | $0.92 | $2.64 |
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AMDTT
| Q4 25 | $10.3B | $5.1B | ||
| Q3 25 | $9.2B | $5.7B | ||
| Q2 25 | $7.7B | $5.7B | ||
| Q1 25 | $7.4B | $4.7B | ||
| Q4 24 | $7.7B | $4.9B | ||
| Q3 24 | $6.8B | $5.4B | ||
| Q2 24 | $5.8B | $5.3B | ||
| Q1 24 | $5.5B | $4.2B |
净利润AMDTT
| Q4 25 | $1.5B | $591.3M | ||
| Q3 25 | $1.2B | $847.6M | ||
| Q2 25 | $872.0M | $874.8M | ||
| Q1 25 | $709.0M | $604.9M | ||
| Q4 24 | $482.0M | $604.3M | ||
| Q3 24 | $771.0M | $772.0M | ||
| Q2 24 | $265.0M | $755.3M | ||
| Q1 24 | $123.0M | $436.3M |
毛利率AMDTT
| Q4 25 | 54.3% | — | ||
| Q3 25 | 51.7% | 36.9% | ||
| Q2 25 | 39.8% | 37.6% | ||
| Q1 25 | 50.2% | 35.8% | ||
| Q4 24 | 50.7% | — | ||
| Q3 24 | 50.1% | 36.3% | ||
| Q2 24 | 49.1% | 36.5% | ||
| Q1 24 | 46.8% | 34.6% |
营业利润率AMDTT
| Q4 25 | 17.1% | 15.9% | ||
| Q3 25 | 13.7% | 20.3% | ||
| Q2 25 | -1.7% | 20.3% | ||
| Q1 25 | 10.8% | 17.5% | ||
| Q4 24 | 11.4% | 16.6% | ||
| Q3 24 | 10.6% | 18.8% | ||
| Q2 24 | 4.6% | 19.5% | ||
| Q1 24 | 0.7% | 15.0% |
净利率AMDTT
| Q4 25 | 14.7% | 11.5% | ||
| Q3 25 | 13.4% | 14.8% | ||
| Q2 25 | 11.3% | 15.2% | ||
| Q1 25 | 9.5% | 12.9% | ||
| Q4 24 | 6.3% | 12.4% | ||
| Q3 24 | 11.3% | 14.2% | ||
| Q2 24 | 4.5% | 14.2% | ||
| Q1 24 | 2.2% | 10.3% |
每股收益（稀释后）AMDTT
| Q4 25 | $0.92 | $2.64 | ||
| Q3 25 | $0.75 | $3.78 | ||
| Q2 25 | $0.54 | $3.89 | ||
| Q1 25 | $0.44 | $2.67 | ||
| Q4 24 | $0.30 | $2.65 | ||
| Q3 24 | $0.47 | $3.39 | ||
| Q2 24 | $0.16 | $3.30 | ||
| Q1 24 | $0.07 | $1.90 |
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 | $1.8B |
| 总债务越低越好 | — | $4.6B |
| 股东权益账面价值 | $63.0B | $8.6B |
| 总资产 | $76.9B | $21.4B |
| 负债/权益比越低杠杆越低 | — | 0.54× |
8季度趋势，按日历期对齐
现金及短期投资AMDTT
| Q4 25 | $10.6B | $1.8B | ||
| Q3 25 | $7.2B | — | ||
| Q2 25 | $5.9B | — | ||
| Q1 25 | $7.3B | — | ||
| Q4 24 | $5.1B | $1.6B | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | $6.0B | — |
总债务AMDTT
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $4.8B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AMDTT
| Q4 25 | $63.0B | $8.6B | ||
| Q3 25 | $60.8B | $8.3B | ||
| Q2 25 | $59.7B | $7.8B | ||
| Q1 25 | $57.9B | $7.5B | ||
| Q4 24 | $57.6B | $7.5B | ||
| Q3 24 | $57.0B | $7.6B | ||
| Q2 24 | $56.5B | $6.9B | ||
| Q1 24 | $56.2B | $6.9B |
总资产AMDTT
| Q4 25 | $76.9B | $21.4B | ||
| Q3 25 | $76.9B | $21.4B | ||
| Q2 25 | $74.8B | $21.0B | ||
| Q1 25 | $71.5B | $20.1B | ||
| Q4 24 | $69.2B | $20.1B | ||
| Q3 24 | $69.6B | $20.9B | ||
| Q2 24 | $67.9B | $20.2B | ||
| Q1 24 | $67.9B | $19.3B |
负债/权益比AMDTT
| Q4 25 | — | 0.54× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.64× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $1.2B |
| 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× | 1.96× |
| 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AMDTT
| Q4 25 | $2.6B | $1.2B | ||
| Q3 25 | $2.2B | $1.0B | ||
| Q2 25 | $2.0B | $692.1M | ||
| Q1 25 | $939.0M | $339.5M | ||
| Q4 24 | $1.3B | $899.9M | ||
| Q3 24 | $628.0M | $1.3B | ||
| Q2 24 | $593.0M | $695.9M | ||
| Q1 24 | $521.0M | $247.2M |
自由现金流AMDTT
| Q4 25 | $2.4B | — | ||
| Q3 25 | $1.9B | $935.6M | ||
| Q2 25 | $1.7B | $602.2M | ||
| Q1 25 | $727.0M | $220.6M | ||
| Q4 24 | $1.1B | $774.3M | ||
| Q3 24 | $496.0M | $1.2B | ||
| Q2 24 | $439.0M | $623.0M | ||
| Q1 24 | $379.0M | $163.4M |
自由现金流率AMDTT
| Q4 25 | 23.2% | — | ||
| Q3 25 | 20.6% | 16.3% | ||
| Q2 25 | 22.5% | 10.5% | ||
| Q1 25 | 9.8% | 4.7% | ||
| Q4 24 | 14.2% | 15.9% | ||
| Q3 24 | 7.3% | 22.3% | ||
| Q2 24 | 7.5% | 11.7% | ||
| Q1 24 | 6.9% | 3.9% |
资本支出强度AMDTT
| Q4 25 | 2.2% | — | ||
| Q3 25 | 2.8% | 1.2% | ||
| Q2 25 | 3.7% | 1.6% | ||
| Q1 25 | 2.9% | 2.5% | ||
| Q4 24 | 2.7% | 2.6% | ||
| Q3 24 | 1.9% | 1.6% | ||
| Q2 24 | 2.6% | 1.4% | ||
| Q1 24 | 2.6% | 2.0% |
现金转化率AMDTT
| Q4 25 | 1.72× | 1.96× | ||
| Q3 25 | 1.74× | 1.18× | ||
| Q2 25 | 2.31× | 0.79× | ||
| Q1 25 | 1.32× | 0.56× | ||
| Q4 24 | 2.70× | 1.49× | ||
| Q3 24 | 0.81× | 1.69× | ||
| Q2 24 | 2.24× | 0.92× | ||
| Q1 24 | 4.24× | 0.57× |
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% |
TT
| Services | $2.8B | 55% |
| Other | $2.3B | 45% |
