vs
亚马逊（AMZN）与惠而浦（WHR）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惠而浦的52.1倍（$213.4B vs $4.1B）。亚马逊净利率更高（9.9% vs 2.7%，领先7.3%）。亚马逊同比增速更快（13.6% vs -0.9%）。亚马逊自由现金流更多（$14.9B vs $989.0M）。过去两年亚马逊的营收复合增速更高（22.0% vs -4.5%）
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。
惠而浦是总部位于美国密歇根州本顿特许镇的跨国家电研发、生产及销售企业，位列《财富》世界500强。2023年集团年销售额约190亿美元，全球员工规模近5.9万人，在世界各地布局超55座生产及技术研发中心。
AMZN vs WHR — 直观对比
营收规模更大
AMZN
是对方的52.1倍
$4.1B
营收增速更快
AMZN
高出14.5%
-0.9%
净利率更高
AMZN
高出7.3%
2.7%
自由现金流更多
AMZN
多$13.9B
$989.0M
两年增速更快
AMZN
近两年复合增速
-4.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $213.4B | $4.1B |
| 净利润 | $21.2B | $109.0M |
| 毛利率 | 48.5% | 14.0% |
| 营业利润率 | 11.7% | 6.0% |
| 净利率 | 9.9% | 2.7% |
| 营收同比 | 13.6% | -0.9% |
| 净利润同比 | 5.9% | 127.8% |
| 每股收益（稀释后） | $1.95 | $1.92 |
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AMZNWHR
| Q4 25 | $213.4B | $4.1B | ||
| Q3 25 | $180.2B | $4.0B | ||
| Q2 25 | $167.7B | $3.8B | ||
| Q1 25 | $155.7B | $3.6B | ||
| Q4 24 | $187.8B | $4.1B | ||
| Q3 24 | $158.9B | $4.0B | ||
| Q2 24 | $148.0B | $4.0B | ||
| Q1 24 | $143.3B | $4.5B |
净利润AMZNWHR
| Q4 25 | $21.2B | $109.0M | ||
| Q3 25 | $21.2B | $73.0M | ||
| Q2 25 | $18.2B | $65.0M | ||
| Q1 25 | $17.1B | $71.0M | ||
| Q4 24 | $20.0B | $-392.0M | ||
| Q3 24 | $15.3B | $109.0M | ||
| Q2 24 | $13.5B | $219.0M | ||
| Q1 24 | $10.4B | $-259.0M |
毛利率AMZNWHR
| Q4 25 | 48.5% | 14.0% | ||
| Q3 25 | 50.8% | 14.7% | ||
| Q2 25 | 51.8% | 16.2% | ||
| Q1 25 | 50.6% | 16.8% | ||
| Q4 24 | 47.3% | 16.2% | ||
| Q3 24 | 49.0% | 16.1% | ||
| Q2 24 | 50.1% | 15.7% | ||
| Q1 24 | 49.3% | 14.3% |
营业利润率AMZNWHR
| Q4 25 | 11.7% | 6.0% | ||
| Q3 25 | 9.7% | 5.1% | ||
| Q2 25 | 11.4% | 5.4% | ||
| Q1 25 | 11.8% | 5.1% | ||
| Q4 24 | 11.3% | -3.3% | ||
| Q3 24 | 11.0% | 6.6% | ||
| Q2 24 | 9.9% | 3.3% | ||
| Q1 24 | 10.7% | -2.6% |
净利率AMZNWHR
| Q4 25 | 9.9% | 2.7% | ||
| Q3 25 | 11.8% | 1.8% | ||
| Q2 25 | 10.8% | 1.7% | ||
| Q1 25 | 11.0% | 2.0% | ||
| Q4 24 | 10.7% | -9.5% | ||
| Q3 24 | 9.6% | 2.7% | ||
| Q2 24 | 9.1% | 5.5% | ||
| Q1 24 | 7.3% | -5.8% |
每股收益（稀释后）AMZNWHR
| Q4 25 | $1.95 | $1.92 | ||
| Q3 25 | $1.95 | $1.29 | ||
| Q2 25 | $1.68 | $1.17 | ||
| Q1 25 | $1.59 | $1.28 | ||
| Q4 24 | $1.86 | $-7.11 | ||
| Q3 24 | $1.43 | $2.00 | ||
| Q2 24 | $1.26 | $3.96 | ||
| Q1 24 | $0.98 | $-4.72 |
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 | $669.0M |
| 总债务越低越好 | $68.8B | $6.2B |
| 股东权益账面价值 | $411.1B | $2.7B |
| 总资产 | $818.0B | $16.0B |
| 负债/权益比越低杠杆越低 | 0.17× | 2.26× |
8季度趋势，按日历期对齐
现金及短期投资AMZNWHR
| Q4 25 | $123.0B | $669.0M | ||
| Q3 25 | $94.2B | $934.0M | ||
| Q2 25 | $93.2B | $1.1B | ||
| Q1 25 | $94.6B | $1.0B | ||
| Q4 24 | $101.2B | $1.3B | ||
| Q3 24 | $88.1B | $1.1B | ||
| Q2 24 | $89.1B | $1.2B | ||
| Q1 24 | $85.1B | $1.2B |
总债务AMZNWHR
| Q4 25 | $68.8B | $6.2B | ||
| Q3 25 | $55.1B | — | ||
| Q2 25 | $56.1B | — | ||
| Q1 25 | $58.8B | — | ||
| Q4 24 | $58.0B | $6.6B | ||
| Q3 24 | $60.5B | — | ||
| Q2 24 | $62.7B | — | ||
| Q1 24 | $66.9B | — |
股东权益AMZNWHR
| Q4 25 | $411.1B | $2.7B | ||
| Q3 25 | $369.6B | $2.6B | ||
| Q2 25 | $333.8B | $2.6B | ||
| Q1 25 | $305.9B | $2.6B | ||
| Q4 24 | $286.0B | $2.7B | ||
| Q3 24 | $259.2B | $3.0B | ||
| Q2 24 | $236.4B | $3.1B | ||
| Q1 24 | $216.7B | $2.4B |
总资产AMZNWHR
| Q4 25 | $818.0B | $16.0B | ||
| Q3 25 | $727.9B | $16.9B | ||
| Q2 25 | $682.2B | $16.8B | ||
| Q1 25 | $643.3B | $16.5B | ||
| Q4 24 | $624.9B | $16.3B | ||
| Q3 24 | $584.6B | $17.2B | ||
| Q2 24 | $554.8B | $17.3B | ||
| Q1 24 | $531.0B | $17.4B |
负债/权益比AMZNWHR
| Q4 25 | 0.17× | 2.26× | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | 0.19× | — | ||
| Q4 24 | 0.20× | 2.46× | ||
| 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 | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $14.9B | $989.0M |
| 自由现金流率自由现金流/营收 | 7.0% | 24.1% |
| 资本支出强度资本支出/营收 | 18.5% | 3.7% |
| 现金转化率经营现金流/净利润 | 2.57× | 10.45× |
| 过去12个月自由现金流最近4个季度 | $7.7B | $81.0M |
8季度趋势，按日历期对齐
经营现金流AMZNWHR
| Q4 25 | $54.5B | $1.1B | ||
| Q3 25 | $35.5B | $33.0M | ||
| Q2 25 | $32.5B | $19.0M | ||
| Q1 25 | $17.0B | $-721.0M | ||
| Q4 24 | $45.6B | $1.1B | ||
| Q3 24 | $26.0B | $214.0M | ||
| Q2 24 | $25.3B | $388.0M | ||
| Q1 24 | $19.0B | $-873.0M |
自由现金流AMZNWHR
| Q4 25 | $14.9B | $989.0M | ||
| Q3 25 | $430.0M | $-52.0M | ||
| Q2 25 | $332.0M | $-63.0M | ||
| Q1 25 | $-8.0B | $-793.0M | ||
| Q4 24 | $17.8B | $970.0M | ||
| Q3 24 | $3.4B | $127.0M | ||
| Q2 24 | $7.7B | $275.0M | ||
| Q1 24 | $4.1B | $-988.0M |
自由现金流率AMZNWHR
| Q4 25 | 7.0% | 24.1% | ||
| Q3 25 | 0.2% | -1.3% | ||
| Q2 25 | 0.2% | -1.7% | ||
| Q1 25 | -5.1% | -21.9% | ||
| Q4 24 | 9.5% | 23.5% | ||
| Q3 24 | 2.1% | 3.2% | ||
| Q2 24 | 5.2% | 6.9% | ||
| Q1 24 | 2.8% | -22.0% |
资本支出强度AMZNWHR
| Q4 25 | 18.5% | 3.7% | ||
| Q3 25 | 19.5% | 2.1% | ||
| Q2 25 | 19.2% | 2.2% | ||
| Q1 25 | 16.1% | 2.0% | ||
| Q4 24 | 14.8% | 3.3% | ||
| Q3 24 | 14.2% | 2.2% | ||
| Q2 24 | 11.9% | 2.8% | ||
| Q1 24 | 10.4% | 2.6% |
现金转化率AMZNWHR
| Q4 25 | 2.57× | 10.45× | ||
| Q3 25 | 1.68× | 0.45× | ||
| Q2 25 | 1.79× | 0.29× | ||
| Q1 25 | 0.99× | -10.15× | ||
| Q4 24 | 2.28× | — | ||
| Q3 24 | 1.69× | 1.96× | ||
| Q2 24 | 1.87× | 1.77× | ||
| 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% |
WHR
| Refrigeration | $1.2B | 30% |
| Laundry | $1.1B | 27% |
| Cooking | $1.1B | 26% |
| Dishwashing | $299.0M | 7% |
| Other | $266.0M | 6% |
| Spare Parts And Warranties | $139.0M | 3% |
