vs
亚马逊（AMZN）与康宝莱（HLF）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康宝莱的166.3倍（$213.4B vs $1.3B）。亚马逊净利率更高（9.9% vs 6.7%，领先3.3%）。亚马逊同比增速更快（13.6% vs 6.3%）。亚马逊自由现金流更多（$14.9B vs $79.8M）。过去两年亚马逊的营收复合增速更高（22.0% vs 0.7%）
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。
康宝莱是美国跨国多层次营销企业，主营膳食补充剂的研发与销售。该公司曾被指控涉嫌金字塔骗局欺诈运营，2016年与美国证监会达成协议后调整了薪酬体系，将经销商奖励与可核实的实际销售额挂钩。此外其部分产品曾被曝出引发急性肝炎的相关问题。
AMZN vs HLF — 直观对比
营收规模更大
AMZN
是对方的166.3倍
$1.3B
营收增速更快
AMZN
高出7.4%
6.3%
净利率更高
AMZN
高出3.3%
6.7%
自由现金流更多
AMZN
多$14.9B
$79.8M
两年增速更快
AMZN
近两年复合增速
0.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $213.4B | $1.3B |
| 净利润 | $21.2B | $85.4M |
| 毛利率 | 48.5% | 77.5% |
| 营业利润率 | 11.7% | 7.8% |
| 净利率 | 9.9% | 6.7% |
| 营收同比 | 13.6% | 6.3% |
| 净利润同比 | 5.9% | -52.0% |
| 每股收益（稀释后） | $1.95 | $0.81 |
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AMZNHLF
| Q4 25 | $213.4B | $1.3B | ||
| Q3 25 | $180.2B | $1.3B | ||
| Q2 25 | $167.7B | $1.3B | ||
| Q1 25 | $155.7B | $1.2B | ||
| Q4 24 | $187.8B | $1.2B | ||
| Q3 24 | $158.9B | $1.2B | ||
| Q2 24 | $148.0B | $1.3B | ||
| Q1 24 | $143.3B | $1.3B |
净利润AMZNHLF
| Q4 25 | $21.2B | $85.4M | ||
| Q3 25 | $21.2B | $43.2M | ||
| Q2 25 | $18.2B | $49.3M | ||
| Q1 25 | $17.1B | $50.4M | ||
| Q4 24 | $20.0B | $177.9M | ||
| Q3 24 | $15.3B | $47.4M | ||
| Q2 24 | $13.5B | $4.7M | ||
| Q1 24 | $10.4B | $24.3M |
毛利率AMZNHLF
| Q4 25 | 48.5% | 77.5% | ||
| Q3 25 | 50.8% | 77.7% | ||
| Q2 25 | 51.8% | 78.0% | ||
| Q1 25 | 50.6% | 78.3% | ||
| Q4 24 | 47.3% | 77.8% | ||
| Q3 24 | 49.0% | 78.3% | ||
| Q2 24 | 50.1% | 77.9% | ||
| Q1 24 | 49.3% | 77.5% |
营业利润率AMZNHLF
| Q4 25 | 11.7% | 7.8% | ||
| Q3 25 | 9.7% | 9.9% | ||
| Q2 25 | 11.4% | 10.5% | ||
| Q1 25 | 11.8% | 10.1% | ||
| Q4 24 | 11.3% | 8.8% | ||
| Q3 24 | 11.0% | 10.2% | ||
| Q2 24 | 9.9% | 6.3% | ||
| Q1 24 | 10.7% | 5.7% |
净利率AMZNHLF
| Q4 25 | 9.9% | 6.7% | ||
| Q3 25 | 11.8% | 3.4% | ||
| Q2 25 | 10.8% | 3.9% | ||
| Q1 25 | 11.0% | 4.1% | ||
| Q4 24 | 10.7% | 14.7% | ||
| Q3 24 | 9.6% | 3.8% | ||
| Q2 24 | 9.1% | 0.4% | ||
| Q1 24 | 7.3% | 1.9% |
每股收益（稀释后）AMZNHLF
| Q4 25 | $1.95 | $0.81 | ||
| Q3 25 | $1.95 | $0.42 | ||
| Q2 25 | $1.68 | $0.48 | ||
| Q1 25 | $1.59 | $0.49 | ||
| Q4 24 | $1.86 | $1.75 | ||
| Q3 24 | $1.43 | $0.46 | ||
| Q2 24 | $1.26 | $0.05 | ||
| Q1 24 | $0.98 | $0.24 |
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 | $353.1M |
| 总债务越低越好 | $68.8B | $2.0B |
| 股东权益账面价值 | $411.1B | $-515.1M |
| 总资产 | $818.0B | $2.8B |
| 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AMZNHLF
| Q4 25 | $123.0B | $353.1M | ||
| Q3 25 | $94.2B | $305.5M | ||
| Q2 25 | $93.2B | $320.9M | ||
| Q1 25 | $94.6B | $329.4M | ||
| Q4 24 | $101.2B | $415.3M | ||
| Q3 24 | $88.1B | $402.5M | ||
| Q2 24 | $89.1B | $374.0M | ||
| Q1 24 | $85.1B | $398.3M |
总债务AMZNHLF
| Q4 25 | $68.8B | $2.0B | ||
| Q3 25 | $55.1B | $2.0B | ||
| Q2 25 | $56.1B | $2.1B | ||
| Q1 25 | $58.8B | $2.2B | ||
| Q4 24 | $58.0B | $2.3B | ||
| Q3 24 | $60.5B | $2.3B | ||
| Q2 24 | $62.7B | $2.3B | ||
| Q1 24 | $66.9B | $2.4B |
股东权益AMZNHLF
| Q4 25 | $411.1B | $-515.1M | ||
| Q3 25 | $369.6B | $-612.0M | ||
| Q2 25 | $333.8B | $-660.5M | ||
| Q1 25 | $305.9B | $-736.0M | ||
| Q4 24 | $286.0B | $-801.1M | ||
| Q3 24 | $259.2B | $-954.2M | ||
| Q2 24 | $236.4B | $-1.0B | ||
| Q1 24 | $216.7B | $-1.0B |
总资产AMZNHLF
| Q4 25 | $818.0B | $2.8B | ||
| Q3 25 | $727.9B | $2.7B | ||
| Q2 25 | $682.2B | $2.7B | ||
| Q1 25 | $643.3B | $2.7B | ||
| Q4 24 | $624.9B | $2.7B | ||
| Q3 24 | $584.6B | $2.7B | ||
| Q2 24 | $554.8B | $2.6B | ||
| Q1 24 | $531.0B | $2.6B |
负债/权益比AMZNHLF
| 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 | $98.3M |
| 自由现金流经营现金流 - 资本支出 | $14.9B | $79.8M |
| 自由现金流率自由现金流/营收 | 7.0% | 6.2% |
| 资本支出强度资本支出/营收 | 18.5% | 1.4% |
| 现金转化率经营现金流/净利润 | 2.57× | 1.15× |
| 过去12个月自由现金流最近4个季度 | $7.7B | $252.9M |
8季度趋势，按日历期对齐
经营现金流AMZNHLF
| Q4 25 | $54.5B | $98.3M | ||
| Q3 25 | $35.5B | $138.8M | ||
| Q2 25 | $32.5B | $96.0M | ||
| Q1 25 | $17.0B | $200.0K | ||
| Q4 24 | $45.6B | $69.6M | ||
| Q3 24 | $26.0B | $99.5M | ||
| Q2 24 | $25.3B | $102.5M | ||
| Q1 24 | $19.0B | $13.8M |
自由现金流AMZNHLF
| Q4 25 | $14.9B | $79.8M | ||
| Q3 25 | $430.0M | $118.0M | ||
| Q2 25 | $332.0M | $73.2M | ||
| Q1 25 | $-8.0B | $-18.1M | ||
| Q4 24 | $17.8B | $43.9M | ||
| Q3 24 | $3.4B | $72.4M | ||
| Q2 24 | $7.7B | $66.2M | ||
| Q1 24 | $4.1B | $-19.1M |
自由现金流率AMZNHLF
| Q4 25 | 7.0% | 6.2% | ||
| Q3 25 | 0.2% | 9.3% | ||
| Q2 25 | 0.2% | 5.8% | ||
| Q1 25 | -5.1% | -1.5% | ||
| Q4 24 | 9.5% | 3.6% | ||
| Q3 24 | 2.1% | 5.8% | ||
| Q2 24 | 5.2% | 5.2% | ||
| Q1 24 | 2.8% | -1.5% |
资本支出强度AMZNHLF
| Q4 25 | 18.5% | 1.4% | ||
| Q3 25 | 19.5% | 1.6% | ||
| Q2 25 | 19.2% | 1.8% | ||
| Q1 25 | 16.1% | 1.5% | ||
| Q4 24 | 14.8% | 2.1% | ||
| Q3 24 | 14.2% | 2.2% | ||
| Q2 24 | 11.9% | 2.8% | ||
| Q1 24 | 10.4% | 2.6% |
现金转化率AMZNHLF
| Q4 25 | 2.57× | 1.15× | ||
| Q3 25 | 1.68× | 3.21× | ||
| Q2 25 | 1.79× | 1.95× | ||
| Q1 25 | 0.99× | 0.00× | ||
| Q4 24 | 2.28× | 0.39× | ||
| Q3 24 | 1.69× | 2.10× | ||
| Q2 24 | 1.87× | 21.81× | ||
| Q1 24 | 1.82× | 0.57× |
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% |
HLF
| Others | $514.4M | 40% |
| Other | $300.0M | 23% |
| IN | $250.3M | 20% |
| MX | $147.2M | 11% |
| VN | $71.1M | 6% |
