vs
超威半导体（AMD）与美国联合航空（UAL）财务数据对比。点击上方公司名可切换其他公司
美国联合航空的季度营收约是超威半导体的1.4倍（$14.6B vs $10.3B），超威半导体净利率更高（13.5% vs 4.8%，领先8.7%），超威半导体同比增速更快（37.8% vs 10.6%），超威半导体自由现金流更多（$2.6B vs $2.0B），过去两年超威半导体的营收复合增速更高（32.6% vs -1.3%）
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。
美国联合航空是美国主要航企，总部位于伊利诺伊州芝加哥，运营覆盖美国本土及六大洲的广阔国内外航线网络，区域航线由独立航司以美联航快运品牌运营，作为星空联盟五大创始航司之一，其航线网络可辐射全球各地。
AMD vs UAL — 直观对比
营收规模更大
UAL
是对方的1.4倍
$10.3B
营收增速更快
AMD
高出27.3%
10.6%
净利率更高
AMD
高出8.7%
4.8%
自由现金流更多
AMD
多$540.0M
$2.0B
两年增速更快
AMD
近两年复合增速
-1.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $14.6B |
| 净利润 | $1.4B | $699.0M |
| 毛利率 | 52.8% | — |
| 营业利润率 | 14.4% | 6.8% |
| 净利率 | 13.5% | 4.8% |
| 营收同比 | 37.8% | 10.6% |
| 净利润同比 | 95.1% | 769.4% |
| 每股收益（稀释后） | $0.84 | $2.14 |
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AMDUAL
| Q1 26 | $10.3B | $14.6B | ||
| Q4 25 | $10.3B | $15.4B | ||
| Q3 25 | $9.2B | $15.2B | ||
| Q2 25 | $7.7B | $15.2B | ||
| Q1 25 | $7.4B | $13.2B | ||
| Q4 24 | $7.7B | $14.7B | ||
| Q3 24 | $6.8B | $14.8B | ||
| Q2 24 | $5.8B | $15.0B |
净利润AMDUAL
| Q1 26 | $1.4B | $699.0M | ||
| Q4 25 | $1.5B | $1.0B | ||
| Q3 25 | $1.2B | $949.0M | ||
| Q2 25 | $872.0M | $973.0M | ||
| Q1 25 | $709.0M | $387.0M | ||
| Q4 24 | $482.0M | $985.0M | ||
| Q3 24 | $771.0M | $965.0M | ||
| Q2 24 | $265.0M | $1.3B |
毛利率AMDUAL
| Q1 26 | 52.8% | — | ||
| Q4 25 | 54.3% | — | ||
| Q3 25 | 51.7% | — | ||
| Q2 25 | 39.8% | — | ||
| Q1 25 | 50.2% | — | ||
| Q4 24 | 50.7% | — | ||
| Q3 24 | 50.1% | — | ||
| Q2 24 | 49.1% | — |
营业利润率AMDUAL
| Q1 26 | 14.4% | 6.8% | ||
| Q4 25 | 17.1% | 9.0% | ||
| Q3 25 | 13.7% | 9.2% | ||
| Q2 25 | -1.7% | 8.7% | ||
| Q1 25 | 10.8% | 4.6% | ||
| Q4 24 | 11.4% | 10.2% | ||
| Q3 24 | 10.6% | 10.5% | ||
| Q2 24 | 4.6% | 12.9% |
净利率AMDUAL
| Q1 26 | 13.5% | 4.8% | ||
| Q4 25 | 14.7% | 6.8% | ||
| Q3 25 | 13.4% | 6.2% | ||
| Q2 25 | 11.3% | 6.4% | ||
| Q1 25 | 9.5% | 2.9% | ||
| Q4 24 | 6.3% | 6.7% | ||
| Q3 24 | 11.3% | 6.5% | ||
| Q2 24 | 4.5% | 8.8% |
每股收益（稀释后）AMDUAL
| Q1 26 | $0.84 | $2.14 | ||
| Q4 25 | $0.92 | $3.17 | ||
| Q3 25 | $0.75 | $2.90 | ||
| Q2 25 | $0.54 | $2.97 | ||
| Q1 25 | $0.44 | $1.16 | ||
| Q4 24 | $0.30 | $2.97 | ||
| Q3 24 | $0.47 | $2.90 | ||
| Q2 24 | $0.16 | $3.96 |
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 | $12.3B | $14.2B |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $64.5B | $15.9B |
| 总资产 | $79.6B | $80.9B |
| 负债/权益比越低杠杆越低 | 0.04× | — |
8季度趋势，按日历期对齐
现金及短期投资AMDUAL
| Q1 26 | $12.3B | $14.2B | ||
| Q4 25 | $10.6B | $12.2B | ||
| Q3 25 | $7.2B | $13.3B | ||
| Q2 25 | $5.9B | $15.6B | ||
| Q1 25 | $7.3B | $15.3B | ||
| Q4 24 | $5.1B | $14.5B | ||
| Q3 24 | $4.5B | $14.2B | ||
| Q2 24 | $5.3B | $15.2B |
总债务AMDUAL
| Q1 26 | $2.4B | — | ||
| Q4 25 | — | $20.6B | ||
| Q3 25 | — | $20.8B | ||
| Q2 25 | — | $20.9B | ||
| Q1 25 | — | $24.4B | ||
| Q4 24 | — | $25.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AMDUAL
| Q1 26 | $64.5B | $15.9B | ||
| Q4 25 | $63.0B | $15.3B | ||
| Q3 25 | $60.8B | $14.3B | ||
| Q2 25 | $59.7B | $13.4B | ||
| Q1 25 | $57.9B | $12.6B | ||
| Q4 24 | $57.6B | $12.7B | ||
| Q3 24 | $57.0B | $11.4B | ||
| Q2 24 | $56.5B | $10.5B |
总资产AMDUAL
| Q1 26 | $79.6B | $80.9B | ||
| Q4 25 | $76.9B | $76.4B | ||
| Q3 25 | $76.9B | $76.3B | ||
| Q2 25 | $74.8B | $77.2B | ||
| Q1 25 | $71.5B | $76.1B | ||
| Q4 24 | $69.2B | $74.1B | ||
| Q3 24 | $69.6B | $72.6B | ||
| Q2 24 | $67.9B | $73.3B |
负债/权益比AMDUAL
| Q1 26 | 0.04× | — | ||
| Q4 25 | — | 1.35× | ||
| Q3 25 | — | 1.45× | ||
| Q2 25 | — | 1.56× | ||
| Q1 25 | — | 1.93× | ||
| Q4 24 | — | 1.99× | ||
| Q3 24 | — | — | ||
| Q2 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 | $3.0B | $4.8B |
| 自由现金流经营现金流 - 资本支出 | $2.6B | $2.0B |
| 自由现金流率自由现金流/营收 | 25.0% | 13.9% |
| 资本支出强度资本支出/营收 | 3.8% | 13.9% |
| 现金转化率经营现金流/净利润 | 2.14× | 6.87× |
| 过去12个月自由现金流最近4个季度 | $8.6B | $2.1B |
8季度趋势，按日历期对齐
经营现金流AMDUAL
| Q1 26 | $3.0B | $4.8B | ||
| Q4 25 | $2.6B | $1.3B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $2.0B | $2.2B | ||
| Q1 25 | $939.0M | $3.7B | ||
| Q4 24 | $1.3B | $2.2B | ||
| Q3 24 | $628.0M | $1.5B | ||
| Q2 24 | $593.0M | $2.9B |
自由现金流AMDUAL
| Q1 26 | $2.6B | $2.0B | ||
| Q4 25 | $2.4B | $-604.0M | ||
| Q3 25 | $1.9B | $-246.0M | ||
| Q2 25 | $1.7B | $930.0M | ||
| Q1 25 | $727.0M | $2.5B | ||
| Q4 24 | $1.1B | $549.0M | ||
| Q3 24 | $496.0M | $88.0M | ||
| Q2 24 | $439.0M | $1.7B |
自由现金流率AMDUAL
| Q1 26 | 25.0% | 13.9% | ||
| Q4 25 | 23.2% | -3.9% | ||
| Q3 25 | 20.6% | -1.6% | ||
| Q2 25 | 22.5% | 6.1% | ||
| Q1 25 | 9.8% | 18.7% | ||
| Q4 24 | 14.2% | 3.7% | ||
| Q3 24 | 7.3% | 0.6% | ||
| Q2 24 | 7.5% | 11.4% |
资本支出强度AMDUAL
| Q1 26 | 3.8% | 13.9% | ||
| Q4 25 | 2.2% | 12.3% | ||
| Q3 25 | 2.8% | 9.6% | ||
| Q2 25 | 3.7% | 8.4% | ||
| Q1 25 | 2.9% | 9.3% | ||
| Q4 24 | 2.7% | 11.4% | ||
| Q3 24 | 1.9% | 9.5% | ||
| Q2 24 | 2.6% | 7.8% |
现金转化率AMDUAL
| Q1 26 | 2.14× | 6.87× | ||
| Q4 25 | 1.72× | 1.23× | ||
| Q3 25 | 1.74× | 1.28× | ||
| Q2 25 | 2.31× | 2.28× | ||
| Q1 25 | 1.32× | 9.59× | ||
| Q4 24 | 2.70× | 2.26× | ||
| Q3 24 | 0.81× | 1.55× | ||
| Q2 24 | 2.24× | 2.17× |
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
| Data Center Segment | $5.8B | 56% |
| Client | $2.9B | 28% |
| Embedded Segment | $873.0M | 9% |
| Gaming | $720.0M | 7% |
UAL
| Passenger revenue | $13.2B | 90% |
| Other | $1.0B | 7% |
| Cargo revenue | $422.0M | 3% |
