vs
亚马逊（AMZN）与CIENA CORP（CIEN）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CIENA CORP的175.0倍（$213.4B vs $1.2B）。亚马逊净利率更高（9.9% vs 4.1%，领先5.8%）。亚马逊自由现金流更多（$14.9B vs $134.6M）。过去两年亚马逊的营收复合增速更高（22.0% vs 3.9%）
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。
Ciena是总部位于美国马里兰州汉诺威的光网络系统及软件提供商，是光连接领域的核心参与者。截至2025年11月，公司营收达48亿美元，全球员工超9000人，由加里·史密斯担任总裁兼首席执行官。
AMZN vs CIEN — 直观对比
营收规模更大
AMZN
是对方的175.0倍
$1.2B
净利率更高
AMZN
高出5.8%
4.1%
自由现金流更多
AMZN
多$14.8B
$134.6M
两年增速更快
AMZN
近两年复合增速
3.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $213.4B | $1.2B |
| 净利润 | $21.2B | $50.3M |
| 毛利率 | 48.5% | 41.3% |
| 营业利润率 | 11.7% | 6.0% |
| 净利率 | 9.9% | 4.1% |
| 营收同比 | 13.6% | — |
| 净利润同比 | 5.9% | — |
| 每股收益（稀释后） | $1.95 | $0.35 |
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AMZNCIEN
| Q4 25 | $213.4B | — | ||
| Q3 25 | $180.2B | $1.2B | ||
| Q2 25 | $167.7B | $1.1B | ||
| Q1 25 | $155.7B | $1.1B | ||
| Q4 24 | $187.8B | $1.1B | ||
| Q3 24 | $158.9B | $942.3M | ||
| Q2 24 | $148.0B | $910.8M | ||
| Q1 24 | $143.3B | $1.0B |
净利润AMZNCIEN
| Q4 25 | $21.2B | — | ||
| Q3 25 | $21.2B | $50.3M | ||
| Q2 25 | $18.2B | $9.0M | ||
| Q1 25 | $17.1B | $44.6M | ||
| Q4 24 | $20.0B | $37.0M | ||
| Q3 24 | $15.3B | $14.2M | ||
| Q2 24 | $13.5B | $-16.8M | ||
| Q1 24 | $10.4B | $49.5M |
毛利率AMZNCIEN
| Q4 25 | 48.5% | — | ||
| Q3 25 | 50.8% | 41.3% | ||
| Q2 25 | 51.8% | 40.2% | ||
| Q1 25 | 50.6% | 44.0% | ||
| Q4 24 | 47.3% | 40.9% | ||
| Q3 24 | 49.0% | 42.9% | ||
| Q2 24 | 50.1% | 42.7% | ||
| Q1 24 | 49.3% | 45.0% |
营业利润率AMZNCIEN
| Q4 25 | 11.7% | — | ||
| Q3 25 | 9.7% | 6.0% | ||
| Q2 25 | 11.4% | 2.9% | ||
| Q1 25 | 11.8% | 7.5% | ||
| Q4 24 | 11.3% | 5.3% | ||
| Q3 24 | 11.0% | 2.8% | ||
| Q2 24 | 9.9% | -0.4% | ||
| Q1 24 | 10.7% | 8.2% |
净利率AMZNCIEN
| Q4 25 | 9.9% | — | ||
| Q3 25 | 11.8% | 4.1% | ||
| Q2 25 | 10.8% | 0.8% | ||
| Q1 25 | 11.0% | 4.2% | ||
| Q4 24 | 10.7% | 3.3% | ||
| Q3 24 | 9.6% | 1.5% | ||
| Q2 24 | 9.1% | -1.8% | ||
| Q1 24 | 7.3% | 4.8% |
每股收益（稀释后）AMZNCIEN
| Q4 25 | $1.95 | — | ||
| Q3 25 | $1.95 | $0.35 | ||
| Q2 25 | $1.68 | $0.06 | ||
| Q1 25 | $1.59 | $0.31 | ||
| Q4 24 | $1.86 | $0.26 | ||
| Q3 24 | $1.43 | $0.10 | ||
| Q2 24 | $1.26 | $-0.12 | ||
| Q1 24 | $0.98 | $0.34 |
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 | $1.3B |
| 总债务越低越好 | $68.8B | — |
| 股东权益账面价值 | $411.1B | $2.8B |
| 总资产 | $818.0B | $5.7B |
| 负债/权益比越低杠杆越低 | 0.17× | — |
8季度趋势，按日历期对齐
现金及短期投资AMZNCIEN
| Q4 25 | $123.0B | — | ||
| Q3 25 | $94.2B | $1.3B | ||
| Q2 25 | $93.2B | $1.3B | ||
| Q1 25 | $94.6B | $1.2B | ||
| Q4 24 | $101.2B | $1.3B | ||
| Q3 24 | $88.1B | $1.1B | ||
| Q2 24 | $89.1B | $1.3B | ||
| Q1 24 | $85.1B | $1.4B |
总债务AMZNCIEN
| Q4 25 | $68.8B | — | ||
| Q3 25 | $55.1B | — | ||
| Q2 25 | $56.1B | — | ||
| Q1 25 | $58.8B | — | ||
| Q4 24 | $58.0B | — | ||
| Q3 24 | $60.5B | — | ||
| Q2 24 | $62.7B | — | ||
| Q1 24 | $66.9B | — |
股东权益AMZNCIEN
| Q4 25 | $411.1B | — | ||
| Q3 25 | $369.6B | $2.8B | ||
| Q2 25 | $333.8B | $2.8B | ||
| Q1 25 | $305.9B | $2.8B | ||
| Q4 24 | $286.0B | $2.8B | ||
| Q3 24 | $259.2B | $2.9B | ||
| Q2 24 | $236.4B | $2.9B | ||
| Q1 24 | $216.7B | $2.9B |
总资产AMZNCIEN
| Q4 25 | $818.0B | — | ||
| Q3 25 | $727.9B | $5.7B | ||
| Q2 25 | $682.2B | $5.7B | ||
| Q1 25 | $643.3B | $5.6B | ||
| Q4 24 | $624.9B | $5.6B | ||
| Q3 24 | $584.6B | $5.6B | ||
| Q2 24 | $554.8B | $5.6B | ||
| Q1 24 | $531.0B | $5.6B |
负债/权益比AMZNCIEN
| Q4 25 | 0.17× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | 0.19× | — | ||
| Q4 24 | 0.20× | — | ||
| Q3 24 | 0.23× | — | ||
| Q2 24 | 0.27× | — | ||
| Q1 24 | 0.31× | — |
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 | $174.3M |
| 自由现金流经营现金流 - 资本支出 | $14.9B | $134.6M |
| 自由现金流率自由现金流/营收 | 7.0% | 11.0% |
| 资本支出强度资本支出/营收 | 18.5% | 3.3% |
| 现金转化率经营现金流/净利润 | 2.57× | 3.47× |
| 过去12个月自由现金流最近4个季度 | $7.7B | $605.5M |
8季度趋势，按日历期对齐
经营现金流AMZNCIEN
| Q4 25 | $54.5B | — | ||
| Q3 25 | $35.5B | $174.3M | ||
| Q2 25 | $32.5B | $156.9M | ||
| Q1 25 | $17.0B | $103.7M | ||
| Q4 24 | $45.6B | $349.4M | ||
| Q3 24 | $26.0B | $-159.4M | ||
| Q2 24 | $25.3B | $58.5M | ||
| Q1 24 | $19.0B | $266.1M |
自由现金流AMZNCIEN
| Q4 25 | $14.9B | — | ||
| Q3 25 | $430.0M | $134.6M | ||
| Q2 25 | $332.0M | $128.2M | ||
| Q1 25 | $-8.0B | $76.8M | ||
| Q4 24 | $17.8B | $265.8M | ||
| Q3 24 | $3.4B | $-179.0M | ||
| Q2 24 | $7.7B | $41.6M | ||
| Q1 24 | $4.1B | $249.5M |
自由现金流率AMZNCIEN
| Q4 25 | 7.0% | — | ||
| Q3 25 | 0.2% | 11.0% | ||
| Q2 25 | 0.2% | 11.4% | ||
| Q1 25 | -5.1% | 7.2% | ||
| Q4 24 | 9.5% | 23.6% | ||
| Q3 24 | 2.1% | -19.0% | ||
| Q2 24 | 5.2% | 4.6% | ||
| Q1 24 | 2.8% | 24.0% |
资本支出强度AMZNCIEN
| Q4 25 | 18.5% | — | ||
| Q3 25 | 19.5% | 3.3% | ||
| Q2 25 | 19.2% | 2.6% | ||
| Q1 25 | 16.1% | 2.5% | ||
| Q4 24 | 14.8% | 7.4% | ||
| Q3 24 | 14.2% | 2.1% | ||
| Q2 24 | 11.9% | 1.9% | ||
| Q1 24 | 10.4% | 1.6% |
现金转化率AMZNCIEN
| Q4 25 | 2.57× | — | ||
| Q3 25 | 1.68× | 3.47× | ||
| Q2 25 | 1.79× | 17.50× | ||
| Q1 25 | 0.99× | 2.33× | ||
| Q4 24 | 2.28× | 9.44× | ||
| Q3 24 | 1.69× | -11.20× | ||
| Q2 24 | 1.87× | — | ||
| Q1 24 | 1.82× | 5.37× |
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% |
CIEN
| Optical Networking | $815.5M | 67% |
| Routing And Switching | $125.9M | 10% |
| Platform Softwareand Services Segment | $90.0M | 7% |
| Maintenance Support And Training | $80.7M | 7% |
| Installation And Deployment | $65.9M | 5% |
| Blue Planet Automation Softwareand Services Segment | $27.8M | 2% |
| Consulting And Network Design | $13.6M | 1% |
