vs
安进（AMGN）与思科（CSCO）财务数据对比。点击上方公司名可切换其他公司
思科的季度营收约是安进的1.6倍（$15.3B vs $9.9B），思科净利率更高（20.7% vs 13.5%，领先7.2%），思科同比增速更快（9.7% vs 8.6%），思科自由现金流更多（$1.5B vs $961.0M），过去两年安进的营收复合增速更高（15.1% vs 9.9%）
安进是总部位于美国加利福尼亚州千橡市的跨国生物制药企业，公司名称取自最初的全称「应用分子遗传学」的缩写组合，按营收规模排名位列全球生物医药企业第18位，专注于研发、生产及商业化创新生物药物，为全球患者提供优质治疗选择。
思科是总部位于美国加利福尼亚州圣何塞的跨国数字通信科技集团，专注于研发、生产及销售网络硬件、软件、通信设备等各类高科技产品，同时提供配套高端技术服务，为全球各领域客户提供可靠的数字化通信相关解决方案。
AMGN vs CSCO — 直观对比
营收规模更大
CSCO
是对方的1.6倍
$9.9B
营收增速更快
CSCO
高出1.1%
8.6%
净利率更高
CSCO
高出7.2%
13.5%
自由现金流更多
CSCO
多$578.0M
$961.0M
两年增速更快
AMGN
近两年复合增速
9.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $15.3B |
| 净利润 | $1.3B | $3.2B |
| 毛利率 | 69.8% | 65.0% |
| 营业利润率 | 27.6% | 24.6% |
| 净利率 | 13.5% | 20.7% |
| 营收同比 | 8.6% | 9.7% |
| 净利润同比 | 112.6% | 30.8% |
| 每股收益（稀释后） | $2.45 | $0.80 |
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AMGNCSCO
| Q1 26 | — | $15.3B | ||
| Q4 25 | $9.9B | $14.9B | ||
| Q3 25 | $9.6B | $14.7B | ||
| Q2 25 | $9.2B | $14.1B | ||
| Q1 25 | $8.1B | $14.0B | ||
| Q4 24 | $9.1B | $13.8B | ||
| Q3 24 | $8.5B | $13.6B | ||
| Q2 24 | $8.4B | $12.7B |
净利润AMGNCSCO
| Q1 26 | — | $3.2B | ||
| Q4 25 | $1.3B | $2.9B | ||
| Q3 25 | $3.2B | $2.5B | ||
| Q2 25 | $1.4B | $2.5B | ||
| Q1 25 | $1.7B | $2.4B | ||
| Q4 24 | $627.0M | $2.7B | ||
| Q3 24 | $2.8B | $2.2B | ||
| Q2 24 | $746.0M | $1.9B |
毛利率AMGNCSCO
| Q1 26 | — | 65.0% | ||
| Q4 25 | 69.8% | 65.5% | ||
| Q3 25 | 67.8% | 63.2% | ||
| Q2 25 | 67.2% | 65.6% | ||
| Q1 25 | 63.6% | 65.1% | ||
| Q4 24 | 65.7% | 65.9% | ||
| Q3 24 | 61.1% | 64.4% | ||
| Q2 24 | 61.4% | 65.1% |
营业利润率AMGNCSCO
| Q1 26 | — | 24.6% | ||
| Q4 25 | 27.6% | 22.6% | ||
| Q3 25 | 26.4% | 21.0% | ||
| Q2 25 | 28.9% | 22.6% | ||
| Q1 25 | 14.5% | 22.3% | ||
| Q4 24 | 25.4% | 17.0% | ||
| Q3 24 | 24.1% | 19.2% | ||
| Q2 24 | 22.8% | 17.2% |
净利率AMGNCSCO
| Q1 26 | — | 20.7% | ||
| Q4 25 | 13.5% | 19.2% | ||
| Q3 25 | 33.7% | 17.4% | ||
| Q2 25 | 15.6% | 17.6% | ||
| Q1 25 | 21.2% | 17.4% | ||
| Q4 24 | 6.9% | 19.6% | ||
| Q3 24 | 33.3% | 15.8% | ||
| Q2 24 | 8.9% | 14.8% |
每股收益（稀释后）AMGNCSCO
| Q1 26 | — | $0.80 | ||
| Q4 25 | $2.45 | $0.72 | ||
| Q3 25 | $5.93 | $0.64 | ||
| Q2 25 | $2.65 | $0.62 | ||
| Q1 25 | $3.20 | $0.61 | ||
| Q4 24 | $1.17 | $0.68 | ||
| Q3 24 | $5.22 | $0.54 | ||
| Q2 24 | $1.38 | $0.46 |
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 | $9.1B | $15.8B |
| 总债务越低越好 | $54.6B | $24.6B |
| 股东权益账面价值 | $8.7B | $47.7B |
| 总资产 | $90.6B | $123.4B |
| 负债/权益比越低杠杆越低 | 6.31× | 0.52× |
8季度趋势，按日历期对齐
现金及短期投资AMGNCSCO
| Q1 26 | — | $15.8B | ||
| Q4 25 | $9.1B | $15.7B | ||
| Q3 25 | $9.4B | $16.1B | ||
| Q2 25 | $8.0B | $15.6B | ||
| Q1 25 | $8.8B | $16.9B | ||
| Q4 24 | $12.0B | $18.7B | ||
| Q3 24 | $9.0B | $17.9B | ||
| Q2 24 | $9.3B | $18.8B |
总债务AMGNCSCO
| Q1 26 | — | $24.6B | ||
| Q4 25 | $54.6B | $24.6B | ||
| Q3 25 | $54.6B | $24.6B | ||
| Q2 25 | $56.2B | $25.1B | ||
| Q1 25 | $57.4B | $20.1B | ||
| Q4 24 | $60.1B | $20.1B | ||
| Q3 24 | $60.4B | $20.1B | ||
| Q2 24 | $62.6B | $20.1B |
股东权益AMGNCSCO
| Q1 26 | — | $47.7B | ||
| Q4 25 | $8.7B | $46.9B | ||
| Q3 25 | $9.6B | $46.8B | ||
| Q2 25 | $7.4B | $45.9B | ||
| Q1 25 | $6.2B | $45.5B | ||
| Q4 24 | $5.9B | $45.3B | ||
| Q3 24 | $7.5B | $45.5B | ||
| Q2 24 | $5.9B | $45.8B |
总资产AMGNCSCO
| Q1 26 | — | $123.4B | ||
| Q4 25 | $90.6B | $121.1B | ||
| Q3 25 | $90.1B | $122.3B | ||
| Q2 25 | $87.9B | $119.8B | ||
| Q1 25 | $89.4B | $121.4B | ||
| Q4 24 | $91.8B | $123.3B | ||
| Q3 24 | $90.9B | $124.4B | ||
| Q2 24 | $90.9B | $123.0B |
负债/权益比AMGNCSCO
| Q1 26 | — | 0.52× | ||
| Q4 25 | 6.31× | 0.53× | ||
| Q3 25 | 5.67× | 0.53× | ||
| Q2 25 | 7.57× | 0.55× | ||
| Q1 25 | 9.24× | 0.44× | ||
| Q4 24 | 10.23× | 0.44× | ||
| Q3 24 | 8.02× | 0.44× | ||
| Q2 24 | 10.57× | 0.44× |
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 | $1.6B | $1.8B |
| 自由现金流经营现金流 - 资本支出 | $961.0M | $1.5B |
| 自由现金流率自由现金流/营收 | 9.7% | 10.0% |
| 资本支出强度资本支出/营收 | 6.5% | 1.8% |
| 现金转化率经营现金流/净利润 | 1.20× | 0.57× |
| 过去12个月自由现金流最近4个季度 | $8.1B | $12.2B |
8季度趋势，按日历期对齐
经营现金流AMGNCSCO
| Q1 26 | — | $1.8B | ||
| Q4 25 | $1.6B | $3.2B | ||
| Q3 25 | $4.7B | $4.2B | ||
| Q2 25 | $2.3B | $4.1B | ||
| Q1 25 | $1.4B | $2.2B | ||
| Q4 24 | $4.8B | $3.7B | ||
| Q3 24 | $3.6B | $3.7B | ||
| Q2 24 | $2.5B | $4.0B |
自由现金流AMGNCSCO
| Q1 26 | — | $1.5B | ||
| Q4 25 | $961.0M | $2.9B | ||
| Q3 25 | $4.2B | $4.0B | ||
| Q2 25 | $1.9B | $3.8B | ||
| Q1 25 | $980.0M | $2.0B | ||
| Q4 24 | $4.4B | $3.4B | ||
| Q3 24 | $3.3B | $3.5B | ||
| Q2 24 | $2.2B | $3.8B |
自由现金流率AMGNCSCO
| Q1 26 | — | 10.0% | ||
| Q4 25 | 9.7% | 19.4% | ||
| Q3 25 | 44.4% | 27.4% | ||
| Q2 25 | 20.8% | 26.8% | ||
| Q1 25 | 12.0% | 14.5% | ||
| Q4 24 | 48.4% | 24.9% | ||
| Q3 24 | 39.0% | 25.9% | ||
| Q2 24 | 26.5% | 29.9% |
资本支出强度AMGNCSCO
| Q1 26 | — | 1.8% | ||
| Q4 25 | 6.5% | 2.2% | ||
| Q3 25 | 4.6% | 1.5% | ||
| Q2 25 | 4.0% | 1.8% | ||
| Q1 25 | 5.0% | 1.5% | ||
| Q4 24 | 4.1% | 1.6% | ||
| Q3 24 | 3.0% | 1.5% | ||
| Q2 24 | 2.8% | 1.3% |
现金转化率AMGNCSCO
| Q1 26 | — | 0.57× | ||
| Q4 25 | 1.20× | 1.12× | ||
| Q3 25 | 1.46× | 1.66× | ||
| Q2 25 | 1.59× | 1.63× | ||
| Q1 25 | 0.80× | 0.92× | ||
| Q4 24 | 7.61× | 1.35× | ||
| Q3 24 | 1.26× | 1.73× | ||
| Q2 24 | 3.30× | 2.11× |
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
AMGN
| Products | $9.4B | 95% |
| Xgeva | $291.0M | 3% |
| Vectibix | $163.0M | 2% |
| Aranesp | $115.0M | 1% |
CSCO
| Networking | $8.3B | 54% |
| Services | $3.7B | 24% |
| Security | $2.0B | 13% |
| Collaboration | $1.1B | 7% |
| Observability | $277.0M | 2% |
