vs
亚马逊（AMZN）与Barnes & Noble Education, Inc.（BNED）财务数据对比。点击上方公司名可切换其他公司
亚马逊的季度营收约是Barnes & Noble Education, Inc.的356.7倍（$213.4B vs $598.2M）。亚马逊净利率更高（9.9% vs 4.2%，领先5.8%）。亚马逊同比增速更快（13.6% vs 6.9%）。亚马逊自由现金流更多（$14.9B vs $61.9M）。过去两年亚马逊的营收复合增速更高（22.0% vs 20.0%）
亚马逊是全球知名的综合电商与科技企业，业务覆盖北美及全球多个地区，设有北美零售、国际零售、亚马逊云科技（AWS）三大业务板块。除运营线上线下零售渠道、提供消费商品售卖与订阅服务外，也为第三方卖家提供销售平台，还自主研发销售Kindle、Fire平板等电子设备。
巴诺教育旗下的巴诺书店是美国门店数量最多的图书零售商，目前在美国各地经营着七百多家线下实体门店，是美国本土颇具影响力的线下图书零售企业，深耕图书零售领域多年。
AMZN vs BNED — 直观对比
营收规模更大
AMZN
是对方的356.7倍
$598.2M
营收增速更快
AMZN
高出6.7%
6.9%
净利率更高
AMZN
高出5.8%
4.2%
自由现金流更多
AMZN
多$14.9B
$61.9M
两年增速更快
AMZN
近两年复合增速
20.0%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $213.4B | $598.2M |
| 净利润 | $21.2B | $25.0M |
| 毛利率 | 48.5% | 21.7% |
| 营业利润率 | 11.7% | 6.8% |
| 净利率 | 9.9% | 4.2% |
| 营收同比 | 13.6% | 6.9% |
| 净利润同比 | 5.9% | -49.7% |
| 每股收益（稀释后） | $1.95 | $0.72 |
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AMZNBNED
| Q4 25 | $213.4B | $598.2M | ||
| Q3 25 | $180.2B | $274.2M | ||
| Q2 25 | $167.7B | $233.0M | ||
| Q1 25 | $155.7B | $419.7M | ||
| Q4 24 | $187.8B | $559.7M | ||
| Q3 24 | $158.9B | $250.9M | ||
| Q2 24 | $148.0B | $192.7M | ||
| Q1 24 | $143.3B | $415.4M |
净利润AMZNBNED
| Q4 25 | $21.2B | $25.0M | ||
| Q3 25 | $21.2B | $-18.3M | ||
| Q2 25 | $18.2B | $-23.0M | ||
| Q1 25 | $17.1B | $17.9M | ||
| Q4 24 | $20.0B | $43.2M | ||
| Q3 24 | $15.3B | $-103.9M | ||
| Q2 24 | $13.5B | $-41.9M | ||
| Q1 24 | $10.4B | $-9.3M |
毛利率AMZNBNED
| Q4 25 | 48.5% | 21.7% | ||
| Q3 25 | 50.8% | 20.2% | ||
| Q2 25 | 51.8% | 30.3% | ||
| Q1 25 | 50.6% | 22.3% | ||
| Q4 24 | 47.3% | 23.0% | ||
| Q3 24 | 49.0% | 17.9% | ||
| Q2 24 | 50.1% | 28.7% | ||
| Q1 24 | 49.3% | 24.2% |
营业利润率AMZNBNED
| Q4 25 | 11.7% | 6.8% | ||
| Q3 25 | 9.7% | -8.4% | ||
| Q2 25 | 11.4% | -4.9% | ||
| Q1 25 | 11.8% | 4.5% | ||
| Q4 24 | 11.3% | 8.4% | ||
| Q3 24 | 11.0% | -15.4% | ||
| Q2 24 | 9.9% | -16.3% | ||
| Q1 24 | 10.7% | 0.4% |
净利率AMZNBNED
| Q4 25 | 9.9% | 4.2% | ||
| Q3 25 | 11.8% | -6.7% | ||
| Q2 25 | 10.8% | -9.9% | ||
| Q1 25 | 11.0% | 4.3% | ||
| Q4 24 | 10.7% | 7.7% | ||
| Q3 24 | 9.6% | -41.4% | ||
| Q2 24 | 9.1% | -21.7% | ||
| Q1 24 | 7.3% | -2.2% |
每股收益（稀释后）AMZNBNED
| Q4 25 | $1.95 | $0.72 | ||
| Q3 25 | $1.95 | $-0.54 | ||
| Q2 25 | $1.68 | $2.97 | ||
| Q1 25 | $1.59 | $0.59 | ||
| Q4 24 | $1.86 | $1.63 | ||
| Q3 24 | $1.43 | $-7.69 | ||
| Q2 24 | $1.26 | $-15.68 | ||
| Q1 24 | $0.98 | $-3.49 |
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 | $123.0B | $11.7M |
| 总债务越低越好 | $68.8B | $122.5M |
| 股东权益账面价值 | $411.1B | $283.2M |
| 总资产 | $818.0B | $1.1B |
| 负债/权益比越低杠杆越低 | 0.17× | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资AMZNBNED
| Q4 25 | $123.0B | $11.7M | ||
| Q3 25 | $94.2B | $7.3M | ||
| Q2 25 | $93.2B | $9.1M | ||
| Q1 25 | $94.6B | $9.2M | ||
| Q4 24 | $101.2B | $11.6M | ||
| Q3 24 | $88.1B | $8.2M | ||
| Q2 24 | $89.1B | $10.5M | ||
| Q1 24 | $85.1B | $8.1M |
总债务AMZNBNED
| Q4 25 | $68.8B | $122.5M | ||
| Q3 25 | $55.1B | $170.0M | ||
| Q2 25 | $56.1B | $103.1M | ||
| Q1 25 | $58.8B | $141.2M | ||
| Q4 24 | $58.0B | $177.6M | ||
| Q3 24 | $60.5B | $221.9M | ||
| Q2 24 | $62.7B | $196.3M | ||
| Q1 24 | $66.9B | $30.2M |
股东权益AMZNBNED
| Q4 25 | $411.1B | $283.2M | ||
| Q3 25 | $369.6B | $256.5M | ||
| Q2 25 | $333.8B | $272.2M | ||
| Q1 25 | $305.9B | $292.9M | ||
| Q4 24 | $286.0B | $211.4M | ||
| Q3 24 | $259.2B | $149.8M | ||
| Q2 24 | $236.4B | $80.4M | ||
| Q1 24 | $216.7B | $121.5M |
总资产AMZNBNED
| Q4 25 | $818.0B | $1.1B | ||
| Q3 25 | $727.9B | $950.8M | ||
| Q2 25 | $682.2B | $790.3M | ||
| Q1 25 | $643.3B | $1.1B | ||
| Q4 24 | $624.9B | $1.0B | ||
| Q3 24 | $584.6B | $973.2M | ||
| Q2 24 | $554.8B | $909.9M | ||
| Q1 24 | $531.0B | $1.2B |
负债/权益比AMZNBNED
| Q4 25 | 0.17× | 0.43× | ||
| Q3 25 | 0.15× | 0.66× | ||
| Q2 25 | 0.17× | 0.38× | ||
| Q1 25 | 0.19× | 0.48× | ||
| Q4 24 | 0.20× | 0.84× | ||
| Q3 24 | 0.23× | 1.48× | ||
| Q2 24 | 0.27× | 2.44× | ||
| Q1 24 | 0.31× | 0.25× |
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 | $54.5B | $66.2M |
| 自由现金流经营现金流 - 资本支出 | $14.9B | $61.9M |
| 自由现金流率自由现金流/营收 | 7.0% | 10.4% |
| 资本支出强度资本支出/营收 | 18.5% | 0.7% |
| 现金转化率经营现金流/净利润 | 2.57× | 2.65× |
| 过去12个月自由现金流最近4个季度 | $7.7B | $-4.6M |
8季度趋势，按日历期对齐
经营现金流AMZNBNED
| Q4 25 | $54.5B | $66.2M | ||
| Q3 25 | $35.5B | $-67.6M | ||
| Q2 25 | $32.5B | $52.6M | ||
| Q1 25 | $17.0B | $-41.9M | ||
| Q4 24 | $45.6B | $47.4M | ||
| Q3 24 | $26.0B | $-143.5M | ||
| Q2 24 | $25.3B | $81.7M | ||
| Q1 24 | $19.0B | $-35.8M |
自由现金流AMZNBNED
| Q4 25 | $14.9B | $61.9M | ||
| Q3 25 | $430.0M | $-71.3M | ||
| Q2 25 | $332.0M | $49.5M | ||
| Q1 25 | $-8.0B | $-44.7M | ||
| Q4 24 | $17.8B | $44.4M | ||
| Q3 24 | $3.4B | $-147.5M | ||
| Q2 24 | $7.7B | $79.1M | ||
| Q1 24 | $4.1B | $-39.0M |
自由现金流率AMZNBNED
| Q4 25 | 7.0% | 10.4% | ||
| Q3 25 | 0.2% | -26.0% | ||
| Q2 25 | 0.2% | 21.3% | ||
| Q1 25 | -5.1% | -10.7% | ||
| Q4 24 | 9.5% | 7.9% | ||
| Q3 24 | 2.1% | -58.8% | ||
| Q2 24 | 5.2% | 41.1% | ||
| Q1 24 | 2.8% | -9.4% |
资本支出强度AMZNBNED
| Q4 25 | 18.5% | 0.7% | ||
| Q3 25 | 19.5% | 1.4% | ||
| Q2 25 | 19.2% | 1.3% | ||
| Q1 25 | 16.1% | 0.7% | ||
| Q4 24 | 14.8% | 0.5% | ||
| Q3 24 | 14.2% | 1.6% | ||
| Q2 24 | 11.9% | 1.4% | ||
| Q1 24 | 10.4% | 0.8% |
现金转化率AMZNBNED
| Q4 25 | 2.57× | 2.65× | ||
| Q3 25 | 1.68× | — | ||
| Q2 25 | 1.79× | — | ||
| Q1 25 | 0.99× | -2.34× | ||
| Q4 24 | 2.28× | 1.10× | ||
| Q3 24 | 1.69× | — | ||
| Q2 24 | 1.87× | — | ||
| Q1 24 | 1.82× | — |
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
AMZN
| Products | $90.0B | 42% |
| Third Party Seller Services | $52.8B | 25% |
| Other | $49.9B | 23% |
| Subscription Services | $13.1B | 6% |
| Physical Stores | $5.9B | 3% |
| Other Services | $1.7B | 1% |
BNED
| Course Materials Product | $459.3M | 77% |
| General Merchandise Product | $112.9M | 19% |
| Serviceand Other | $26.1M | 4% |
