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树莓派（ARM）与Qorvo, Inc.（QRVO）财务数据对比。点击上方公司名可切换其他公司
树莓派的季度营收约是Qorvo, Inc.的1.3倍（$1.2B vs $993.0M），树莓派净利率更高（18.0% vs 16.5%，领先1.4%），树莓派同比增速更快（26.3% vs 8.4%），Qorvo, Inc.自由现金流更多（$236.9M vs $186.0M），过去两年树莓派的营收复合增速更高（24.1% vs 2.7%）
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。
Qorvo是一家美国跨国企业，专注于无线、有线及电源市场相关产品的研发与供应。该公司由TriQuint半导体与RF Micro Devices合并而来，合并计划于2014年公布，2015年1月1日正式完成，在纳斯达克挂牌上市，股票代码QRVO，原实行双总部制，2016年中起将北卡罗来纳州基地作为总部所在地。
ARM vs QRVO — 直观对比
营收规模更大
ARM
是对方的1.3倍
$993.0M
营收增速更快
ARM
高出18.0%
8.4%
净利率更高
ARM
高出1.4%
16.5%
自由现金流更多
QRVO
多$50.9M
$186.0M
两年增速更快
ARM
近两年复合增速
2.7%
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $993.0M |
| 净利润 | $223.0M | $164.1M |
| 毛利率 | 97.6% | 46.7% |
| 营业利润率 | 14.9% | 19.4% |
| 净利率 | 18.0% | 16.5% |
| 营收同比 | 26.3% | 8.4% |
| 净利润同比 | -11.5% | 297.5% |
| 每股收益（稀释后） | $0.21 | $1.75 |
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ARMQRVO
| Q4 25 | $1.2B | $993.0M | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.1B | $818.8M | ||
| Q1 25 | — | $869.5M | ||
| Q4 24 | $983.0M | $916.3M | ||
| Q3 24 | $844.0M | $1.0B | ||
| Q2 24 | $939.0M | $886.7M | ||
| Q1 24 | — | $941.0M |
净利润ARMQRVO
| Q4 25 | $223.0M | $164.1M | ||
| Q3 25 | $238.0M | $119.6M | ||
| Q2 25 | $130.0M | $25.6M | ||
| Q1 25 | — | $31.4M | ||
| Q4 24 | $252.0M | $41.3M | ||
| Q3 24 | $107.0M | $-17.4M | ||
| Q2 24 | $223.0M | $414.0K | ||
| Q1 24 | — | $2.7M |
毛利率ARMQRVO
| Q4 25 | 97.6% | 46.7% | ||
| Q3 25 | 97.4% | 47.0% | ||
| Q2 25 | 97.2% | 40.5% | ||
| Q1 25 | — | 42.2% | ||
| Q4 24 | 97.2% | 42.7% | ||
| Q3 24 | 96.2% | 42.6% | ||
| Q2 24 | 96.5% | 37.5% | ||
| Q1 24 | — | 40.6% |
营业利润率ARMQRVO
| Q4 25 | 14.9% | 19.4% | ||
| Q3 25 | 14.4% | 14.9% | ||
| Q2 25 | 10.8% | 3.7% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | 17.8% | 5.8% | ||
| Q3 24 | 7.6% | 0.9% | ||
| Q2 24 | 19.4% | 0.5% | ||
| Q1 24 | — | 3.2% |
净利率ARMQRVO
| Q4 25 | 18.0% | 16.5% | ||
| Q3 25 | 21.0% | 11.3% | ||
| Q2 25 | 12.3% | 3.1% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | 25.6% | 4.5% | ||
| Q3 24 | 12.7% | -1.7% | ||
| Q2 24 | 23.7% | 0.0% | ||
| Q1 24 | — | 0.3% |
每股收益（稀释后）ARMQRVO
| Q4 25 | $0.21 | $1.75 | ||
| Q3 25 | $0.22 | $1.28 | ||
| Q2 25 | $0.12 | $0.27 | ||
| Q1 25 | — | $0.33 | ||
| Q4 24 | $0.24 | $0.43 | ||
| Q3 24 | $0.10 | $-0.18 | ||
| Q2 24 | $0.21 | $0.00 | ||
| Q1 24 | — | $0.04 |
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 | $1.3B |
| 总债务越低越好 | — | $1.5B |
| 股东权益账面价值 | $7.8B | $3.7B |
| 总资产 | $10.2B | $6.2B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资ARMQRVO
| Q4 25 | $3.5B | $1.3B | ||
| Q3 25 | $3.3B | $1.1B | ||
| Q2 25 | $2.9B | $1.2B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | $2.7B | $769.4M | ||
| Q3 24 | $2.4B | $1.1B | ||
| Q2 24 | $2.5B | $1.1B | ||
| Q1 24 | — | $1.0B |
总债务ARMQRVO
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.5B |
股东权益ARMQRVO
| Q4 25 | $7.8B | $3.7B | ||
| Q3 25 | $7.4B | $3.5B | ||
| Q2 25 | $7.0B | $3.4B | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | $6.4B | $3.4B | ||
| Q3 24 | $6.0B | $3.4B | ||
| Q2 24 | $5.7B | $3.5B | ||
| Q1 24 | — | $3.6B |
总资产ARMQRVO
| Q4 25 | $10.2B | $6.2B | ||
| Q3 25 | $9.7B | $6.1B | ||
| Q2 25 | $9.4B | $6.0B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | $8.5B | $6.0B | ||
| Q3 24 | $8.1B | $6.5B | ||
| Q2 24 | $7.9B | $6.4B | ||
| Q1 24 | — | $6.6B |
负债/权益比ARMQRVO
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.45× | ||
| Q1 25 | — | 0.46× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.45× | ||
| Q2 24 | — | 0.44× | ||
| Q1 24 | — | 0.44× |
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 | $265.4M |
| 自由现金流经营现金流 - 资本支出 | $186.0M | $236.9M |
| 自由现金流率自由现金流/营收 | 15.0% | 23.9% |
| 资本支出强度资本支出/营收 | 14.4% | 2.9% |
| 现金转化率经营现金流/净利润 | 1.64× | 1.62× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $595.2M |
8季度趋势，按日历期对齐
经营现金流ARMQRVO
| Q4 25 | $365.0M | $265.4M | ||
| Q3 25 | $567.0M | $84.0M | ||
| Q2 25 | $332.0M | $182.9M | ||
| Q1 25 | — | $199.2M | ||
| Q4 24 | $423.0M | $214.1M | ||
| Q3 24 | $6.0M | $127.8M | ||
| Q2 24 | $-290.0M | $81.1M | ||
| Q1 24 | — | — |
自由现金流ARMQRVO
| Q4 25 | $186.0M | $236.9M | ||
| Q3 25 | $429.0M | $42.2M | ||
| Q2 25 | $178.0M | $145.4M | ||
| Q1 25 | — | $170.7M | ||
| Q4 24 | $360.0M | $176.2M | ||
| Q3 24 | $-47.0M | $94.8M | ||
| Q2 24 | $-319.0M | $42.9M | ||
| Q1 24 | — | — |
自由现金流率ARMQRVO
| Q4 25 | 15.0% | 23.9% | ||
| Q3 25 | 37.8% | 4.0% | ||
| Q2 25 | 16.9% | 17.8% | ||
| Q1 25 | — | 19.6% | ||
| Q4 24 | 36.6% | 19.2% | ||
| Q3 24 | -5.6% | 9.1% | ||
| Q2 24 | -34.0% | 4.8% | ||
| Q1 24 | — | — |
资本支出强度ARMQRVO
| Q4 25 | 14.4% | 2.9% | ||
| Q3 25 | 12.2% | 3.9% | ||
| Q2 25 | 14.6% | 4.6% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | 6.4% | 4.1% | ||
| Q3 24 | 6.3% | 3.2% | ||
| Q2 24 | 3.1% | 4.3% | ||
| Q1 24 | — | — |
现金转化率ARMQRVO
| Q4 25 | 1.64× | 1.62× | ||
| Q3 25 | 2.38× | 0.70× | ||
| Q2 25 | 2.55× | 7.15× | ||
| Q1 25 | — | 6.35× | ||
| Q4 24 | 1.68× | 5.19× | ||
| Q3 24 | 0.06× | — | ||
| Q2 24 | -1.30× | 195.86× | ||
| 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% |
QRVO
| ACG | $690.8M | 70% |
| HPA | $190.9M | 19% |
| CSG | $111.3M | 11% |
