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树莓派（ARM）与美满电子科技（MRVL）财务数据对比。点击上方公司名可切换其他公司
美满电子科技的季度营收约是树莓派的1.7倍（$2.1B vs $1.2B）。美满电子科技净利率更高（91.7% vs 18.0%，领先73.7%）。美满电子科技同比增速更快（36.8% vs 26.3%）。美满电子科技自由现金流更多（$508.8M vs $186.0M）。过去两年树莓派的营收复合增速更高（24.1% vs 20.6%）
树莓派是英国科技企业，设计并销售同名品牌的单板计算机、半导体及相关配件。初代产品由树莓派基金会研发，旨在推广计算机科学教育，推出后迅速受到爱好者和专业人士欢迎，目前已广泛应用于工业及嵌入式领域。
美满电子科技是总部位于美国加利福尼亚州圣克拉拉的半导体企业，成立于1995年，专注于半导体及相关技术的研发与生产。截至2024年，公司全球员工超6500人，持有全球专利超1万项，2024财年总营收达55亿美元。
ARM vs MRVL — 直观对比
营收规模更大
MRVL
是对方的1.7倍
$1.2B
营收增速更快
MRVL
高出10.5%
26.3%
净利率更高
MRVL
高出73.7%
18.0%
自由现金流更多
MRVL
多$322.8M
$186.0M
两年增速更快
ARM
近两年复合增速
20.6%
损益表 — Q3 2026 vs Q4 2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.1B |
| 净利润 | $223.0M | $1.9B |
| 毛利率 | 97.6% | 51.6% |
| 营业利润率 | 14.9% | 17.2% |
| 净利率 | 18.0% | 91.7% |
| 营收同比 | 26.3% | 36.8% |
| 净利润同比 | -11.5% | 381.1% |
| 每股收益（稀释后） | $0.21 | $2.20 |
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ARMMRVL
| Q4 25 | $1.2B | $2.1B | ||
| Q3 25 | $1.1B | $2.0B | ||
| Q2 25 | $1.1B | $1.9B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | $983.0M | $1.5B | ||
| Q3 24 | $844.0M | $1.3B | ||
| Q2 24 | $939.0M | $1.2B | ||
| Q1 24 | — | $1.4B |
净利润ARMMRVL
| Q4 25 | $223.0M | $1.9B | ||
| Q3 25 | $238.0M | $194.8M | ||
| Q2 25 | $130.0M | $177.9M | ||
| Q1 25 | — | $200.2M | ||
| Q4 24 | $252.0M | $-676.3M | ||
| Q3 24 | $107.0M | $-193.3M | ||
| Q2 24 | $223.0M | $-215.6M | ||
| Q1 24 | — | $-392.7M |
毛利率ARMMRVL
| Q4 25 | 97.6% | 51.6% | ||
| Q3 25 | 97.4% | 50.4% | ||
| Q2 25 | 97.2% | 50.3% | ||
| Q1 25 | — | 50.5% | ||
| Q4 24 | 97.2% | 23.0% | ||
| Q3 24 | 96.2% | 46.2% | ||
| Q2 24 | 96.5% | 45.5% | ||
| Q1 24 | — | 46.6% |
营业利润率ARMMRVL
| Q4 25 | 14.9% | 17.2% | ||
| Q3 25 | 14.4% | 14.5% | ||
| Q2 25 | 10.8% | 14.3% | ||
| Q1 25 | — | 12.9% | ||
| Q4 24 | 17.8% | -46.4% | ||
| Q3 24 | 7.6% | -7.9% | ||
| Q2 24 | 19.4% | -13.1% | ||
| Q1 24 | — | -2.3% |
净利率ARMMRVL
| Q4 25 | 18.0% | 91.7% | ||
| Q3 25 | 21.0% | 9.7% | ||
| Q2 25 | 12.3% | 9.4% | ||
| Q1 25 | — | 11.0% | ||
| Q4 24 | 25.6% | -44.6% | ||
| Q3 24 | 12.7% | -15.2% | ||
| Q2 24 | 23.7% | -18.6% | ||
| Q1 24 | — | -27.5% |
每股收益（稀释后）ARMMRVL
| Q4 25 | $0.21 | $2.20 | ||
| Q3 25 | $0.22 | $0.22 | ||
| Q2 25 | $0.12 | $0.20 | ||
| Q1 25 | — | $0.23 | ||
| Q4 24 | $0.24 | $-0.78 | ||
| Q3 24 | $0.10 | $-0.22 | ||
| Q2 24 | $0.21 | $-0.25 | ||
| Q1 24 | — | $-0.45 |
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 | $3.5B | $2.7B |
| 总债务越低越好 | — | $4.5B |
| 股东权益账面价值 | $7.8B | $14.1B |
| 总资产 | $10.2B | $21.6B |
| 负债/权益比越低杠杆越低 | — | 0.32× |
8季度趋势，按日历期对齐
现金及短期投资ARMMRVL
| Q4 25 | $3.5B | $2.7B | ||
| Q3 25 | $3.3B | $1.2B | ||
| Q2 25 | $2.9B | $885.9M | ||
| Q1 25 | — | $948.3M | ||
| Q4 24 | $2.7B | $868.1M | ||
| Q3 24 | $2.4B | $808.7M | ||
| Q2 24 | $2.5B | $847.7M | ||
| Q1 24 | — | $950.8M |
总债务ARMMRVL
| Q4 25 | — | $4.5B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | — | $4.1B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.1B | ||
| Q1 24 | — | $4.2B |
股东权益ARMMRVL
| Q4 25 | $7.8B | $14.1B | ||
| Q3 25 | $7.4B | $13.4B | ||
| Q2 25 | $7.0B | $13.3B | ||
| Q1 25 | — | $13.4B | ||
| Q4 24 | $6.4B | $13.4B | ||
| Q3 24 | $6.0B | $14.2B | ||
| Q2 24 | $5.7B | $14.5B | ||
| Q1 24 | — | $14.8B |
总资产ARMMRVL
| Q4 25 | $10.2B | $21.6B | ||
| Q3 25 | $9.7B | $20.6B | ||
| Q2 25 | $9.4B | $20.0B | ||
| Q1 25 | — | $20.2B | ||
| Q4 24 | $8.5B | $19.7B | ||
| Q3 24 | $8.1B | $20.3B | ||
| Q2 24 | $7.9B | $20.5B | ||
| Q1 24 | — | $21.2B |
负债/权益比ARMMRVL
| Q4 25 | — | 0.32× | ||
| Q3 25 | — | 0.33× | ||
| Q2 25 | — | 0.32× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 0.31× | ||
| Q3 24 | — | 0.29× | ||
| Q2 24 | — | 0.29× | ||
| Q1 24 | — | 0.28× |
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 | $365.0M | $582.3M |
| 自由现金流经营现金流 - 资本支出 | $186.0M | $508.8M |
| 自由现金流率自由现金流/营收 | 15.0% | 24.5% |
| 资本支出强度资本支出/营收 | 14.4% | 3.5% |
| 现金转化率经营现金流/净利润 | 1.64× | 0.31× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $1.6B |
8季度趋势，按日历期对齐
经营现金流ARMMRVL
| Q4 25 | $365.0M | $582.3M | ||
| Q3 25 | $567.0M | $461.6M | ||
| Q2 25 | $332.0M | $332.9M | ||
| Q1 25 | — | $514.0M | ||
| Q4 24 | $423.0M | $536.3M | ||
| Q3 24 | $6.0M | $306.4M | ||
| Q2 24 | $-290.0M | $324.5M | ||
| Q1 24 | — | $546.6M |
自由现金流ARMMRVL
| Q4 25 | $186.0M | $508.8M | ||
| Q3 25 | $429.0M | $414.1M | ||
| Q2 25 | $178.0M | $214.1M | ||
| Q1 25 | — | $444.1M | ||
| Q4 24 | $360.0M | $461.3M | ||
| Q3 24 | $-47.0M | $258.2M | ||
| Q2 24 | $-319.0M | $233.0M | ||
| Q1 24 | — | $475.6M |
自由现金流率ARMMRVL
| Q4 25 | 15.0% | 24.5% | ||
| Q3 25 | 37.8% | 20.6% | ||
| Q2 25 | 16.9% | 11.3% | ||
| Q1 25 | — | 24.4% | ||
| Q4 24 | 36.6% | 30.4% | ||
| Q3 24 | -5.6% | 20.3% | ||
| Q2 24 | -34.0% | 20.1% | ||
| Q1 24 | — | 33.3% |
资本支出强度ARMMRVL
| Q4 25 | 14.4% | 3.5% | ||
| Q3 25 | 12.2% | 2.4% | ||
| Q2 25 | 14.6% | 6.3% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | 6.4% | 4.9% | ||
| Q3 24 | 6.3% | 3.8% | ||
| Q2 24 | 3.1% | 7.9% | ||
| Q1 24 | — | 5.0% |
现金转化率ARMMRVL
| Q4 25 | 1.64× | 0.31× | ||
| Q3 25 | 2.38× | 2.37× | ||
| Q2 25 | 2.55× | 1.87× | ||
| Q1 25 | — | 2.57× | ||
| Q4 24 | 1.68× | — | ||
| Q3 24 | 0.06× | — | ||
| Q2 24 | -1.30× | — | ||
| Q1 24 | — | — |
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
ARM
| Royalty | $737.0M | 59% |
| Transferred Over Time | $294.0M | 24% |
| Transferred At Point In Time | $211.0M | 17% |
MRVL
暂无分部数据
