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安进（AMGN）与高通（QCOM）财务数据对比。点击上方公司名可切换其他公司
高通的季度营收约是安进的1.2倍（$12.3B vs $9.9B），高通净利率更高（24.5% vs 13.5%，领先11.0%），安进同比增速更快（8.6% vs 5.0%），高通自由现金流更多（$4.4B vs $961.0M），过去两年安进的营收复合增速更高（15.1% vs 14.2%）
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。
高通是总部位于美国加利福尼亚州圣迭戈、在特拉华州注册的跨国企业，主营无线技术相关的半导体、软件及服务业务，持有5G、4G、CDMA2000、TD-SCDMA、WCDMA等移动通信标准的核心专利，是全球无线通信领域的核心供应商。
AMGN vs QCOM — 直观对比
营收规模更大
QCOM
是对方的1.2倍
$9.9B
营收增速更快
AMGN
高出3.6%
5.0%
净利率更高
QCOM
高出11.0%
13.5%
自由现金流更多
QCOM
多$3.5B
$961.0M
两年增速更快
AMGN
近两年复合增速
14.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $12.3B |
| 净利润 | $1.3B | $3.0B |
| 毛利率 | 69.8% | 54.6% |
| 营业利润率 | 27.6% | 27.5% |
| 净利率 | 13.5% | 24.5% |
| 营收同比 | 8.6% | 5.0% |
| 净利润同比 | 112.6% | -5.5% |
| 每股收益（稀释后） | $2.45 | $2.78 |
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AMGNQCOM
| Q4 25 | $9.9B | $12.3B | ||
| Q3 25 | $9.6B | $11.3B | ||
| Q2 25 | $9.2B | $10.4B | ||
| Q1 25 | $8.1B | $11.0B | ||
| Q4 24 | $9.1B | $11.7B | ||
| Q3 24 | $8.5B | $10.2B | ||
| Q2 24 | $8.4B | $9.4B | ||
| Q1 24 | $7.4B | $9.4B |
净利润AMGNQCOM
| Q4 25 | $1.3B | $3.0B | ||
| Q3 25 | $3.2B | $-3.1B | ||
| Q2 25 | $1.4B | $2.7B | ||
| Q1 25 | $1.7B | $2.8B | ||
| Q4 24 | $627.0M | $3.2B | ||
| Q3 24 | $2.8B | $2.9B | ||
| Q2 24 | $746.0M | $2.1B | ||
| Q1 24 | $-113.0M | $2.3B |
毛利率AMGNQCOM
| Q4 25 | 69.8% | 54.6% | ||
| Q3 25 | 67.8% | 55.3% | ||
| Q2 25 | 67.2% | 55.6% | ||
| Q1 25 | 63.6% | 55.0% | ||
| Q4 24 | 65.7% | 55.8% | ||
| Q3 24 | 61.1% | 56.4% | ||
| Q2 24 | 61.4% | 55.6% | ||
| Q1 24 | 57.0% | 56.3% |
营业利润率AMGNQCOM
| Q4 25 | 27.6% | 27.5% | ||
| Q3 25 | 26.4% | 25.9% | ||
| Q2 25 | 28.9% | 26.6% | ||
| Q1 25 | 14.5% | 28.4% | ||
| Q4 24 | 25.4% | 30.5% | ||
| Q3 24 | 24.1% | 25.2% | ||
| Q2 24 | 22.8% | 23.6% | ||
| Q1 24 | 13.3% | 24.9% |
净利率AMGNQCOM
| Q4 25 | 13.5% | 24.5% | ||
| Q3 25 | 33.7% | -27.7% | ||
| Q2 25 | 15.6% | 25.7% | ||
| Q1 25 | 21.2% | 25.6% | ||
| Q4 24 | 6.9% | 27.3% | ||
| Q3 24 | 33.3% | 28.5% | ||
| Q2 24 | 8.9% | 22.7% | ||
| Q1 24 | -1.5% | 24.8% |
每股收益（稀释后）AMGNQCOM
| Q4 25 | $2.45 | $2.78 | ||
| Q3 25 | $5.93 | $-2.77 | ||
| Q2 25 | $2.65 | $2.43 | ||
| Q1 25 | $3.20 | $2.52 | ||
| Q4 24 | $1.17 | $2.83 | ||
| Q3 24 | $5.22 | $2.57 | ||
| Q2 24 | $1.38 | $1.88 | ||
| Q1 24 | $-0.21 | $2.06 |
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 | $11.8B |
| 总债务越低越好 | $54.6B | $14.8B |
| 股东权益账面价值 | $8.7B | $23.1B |
| 总资产 | $90.6B | $53.0B |
| 负债/权益比越低杠杆越低 | 6.31× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资AMGNQCOM
| Q4 25 | $9.1B | $11.8B | ||
| Q3 25 | $9.4B | $10.2B | ||
| Q2 25 | $8.0B | $10.0B | ||
| Q1 25 | $8.8B | $13.8B | ||
| Q4 24 | $12.0B | $14.3B | ||
| Q3 24 | $9.0B | $13.3B | ||
| Q2 24 | $9.3B | $13.0B | ||
| Q1 24 | $9.7B | $13.9B |
总债务AMGNQCOM
| Q4 25 | $54.6B | $14.8B | ||
| Q3 25 | $54.6B | $14.8B | ||
| Q2 25 | $56.2B | $14.8B | ||
| Q1 25 | $57.4B | $13.3B | ||
| Q4 24 | $60.1B | $13.2B | ||
| Q3 24 | $60.4B | $13.3B | ||
| Q2 24 | $62.6B | $13.2B | ||
| Q1 24 | $64.0B | $14.5B |
股东权益AMGNQCOM
| Q4 25 | $8.7B | $23.1B | ||
| Q3 25 | $9.6B | $21.2B | ||
| Q2 25 | $7.4B | $27.2B | ||
| Q1 25 | $6.2B | $27.7B | ||
| Q4 24 | $5.9B | $26.9B | ||
| Q3 24 | $7.5B | $26.3B | ||
| Q2 24 | $5.9B | $24.7B | ||
| Q1 24 | $5.0B | $24.5B |
总资产AMGNQCOM
| Q4 25 | $90.6B | $53.0B | ||
| Q3 25 | $90.1B | $50.1B | ||
| Q2 25 | $87.9B | $54.9B | ||
| Q1 25 | $89.4B | $55.4B | ||
| Q4 24 | $91.8B | $55.6B | ||
| Q3 24 | $90.9B | $55.2B | ||
| Q2 24 | $90.9B | $52.7B | ||
| Q1 24 | $93.0B | $53.2B |
负债/权益比AMGNQCOM
| Q4 25 | 6.31× | 0.64× | ||
| Q3 25 | 5.67× | 0.70× | ||
| Q2 25 | 7.57× | 0.54× | ||
| Q1 25 | 9.24× | 0.48× | ||
| Q4 24 | 10.23× | 0.49× | ||
| Q3 24 | 8.02× | 0.51× | ||
| Q2 24 | 10.57× | 0.53× | ||
| Q1 24 | 12.75× | 0.59× |
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 | $5.0B |
| 自由现金流经营现金流 - 资本支出 | $961.0M | $4.4B |
| 自由现金流率自由现金流/营收 | 9.7% | 36.0% |
| 资本支出强度资本支出/营收 | 6.5% | 4.5% |
| 现金转化率经营现金流/净利润 | 1.20× | 1.65× |
| 过去12个月自由现金流最近4个季度 | $8.1B | $12.9B |
8季度趋势，按日历期对齐
经营现金流AMGNQCOM
| Q4 25 | $1.6B | $5.0B | ||
| Q3 25 | $4.7B | $4.0B | ||
| Q2 25 | $2.3B | $2.9B | ||
| Q1 25 | $1.4B | $2.6B | ||
| Q4 24 | $4.8B | $4.6B | ||
| Q3 24 | $3.6B | $2.6B | ||
| Q2 24 | $2.5B | $3.1B | ||
| Q1 24 | $689.0M | $3.6B |
自由现金流AMGNQCOM
| Q4 25 | $961.0M | $4.4B | ||
| Q3 25 | $4.2B | $3.6B | ||
| Q2 25 | $1.9B | $2.6B | ||
| Q1 25 | $980.0M | $2.3B | ||
| Q4 24 | $4.4B | $4.3B | ||
| Q3 24 | $3.3B | $2.4B | ||
| Q2 24 | $2.2B | $2.7B | ||
| Q1 24 | $459.0M | $3.4B |
自由现金流率AMGNQCOM
| Q4 25 | 9.7% | 36.0% | ||
| Q3 25 | 44.4% | 31.8% | ||
| Q2 25 | 20.8% | 24.9% | ||
| Q1 25 | 12.0% | 21.3% | ||
| Q4 24 | 48.4% | 36.9% | ||
| Q3 24 | 39.0% | 23.3% | ||
| Q2 24 | 26.5% | 28.4% | ||
| Q1 24 | 6.2% | 35.9% |
资本支出强度AMGNQCOM
| Q4 25 | 6.5% | 4.5% | ||
| Q3 25 | 4.6% | 3.6% | ||
| Q2 25 | 4.0% | 2.8% | ||
| Q1 25 | 5.0% | 1.9% | ||
| Q4 24 | 4.1% | 2.4% | ||
| Q3 24 | 3.0% | 2.5% | ||
| Q2 24 | 2.8% | 4.1% | ||
| Q1 24 | 3.1% | 2.0% |
现金转化率AMGNQCOM
| Q4 25 | 1.20× | 1.65× | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.59× | 1.08× | ||
| Q1 25 | 0.80× | 0.91× | ||
| Q4 24 | 7.61× | 1.44× | ||
| Q3 24 | 1.26× | 0.91× | ||
| Q2 24 | 3.30× | 1.43× | ||
| Q1 24 | — | 1.53× |
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% |
QCOM
| Handsets | $7.8B | 64% |
| Io T | $1.7B | 14% |
| Qtl | $1.6B | 13% |
| Automotive | $1.1B | 9% |
