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艾睿电子（ARW）与Salesforce（CRM）财务数据对比。点击上方公司名可切换其他公司
Salesforce的季度营收约是艾睿电子的1.2倍（$10.3B vs $8.7B），Salesforce净利率更高（20.3% vs 2.2%，领先18.1%），艾睿电子同比增速更快（20.1% vs 8.6%），Salesforce自由现金流更多（$2.2B vs $172.6M），过去两年艾睿电子的营收复合增速更高（12.4% vs 5.1%）
艾睿电子是总部位于美国科罗拉多州森特纳尼尔的企业，为全球客户提供电子元器件与企业计算产品，面向原始设备制造商、增值经销商、合同制造商等商业客户提供分销及增值服务，位列美国财富500强第154位。
Salesforce是总部位于美国加利福尼亚州旧金山的云软件企业，提供销售管理、客户服务、营销自动化、电子商务、数据分析、人工智能、代理式AI及应用开发等领域的企业级数字化解决方案，助力企业提升运营效率、优化客户关系管理。
ARW vs CRM — 直观对比
营收规模更大
CRM
是对方的1.2倍
$8.7B
营收增速更快
ARW
高出11.5%
8.6%
净利率更高
CRM
高出18.1%
2.2%
自由现金流更多
CRM
多$2.0B
$172.6M
两年增速更快
ARW
近两年复合增速
5.1%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $8.7B | $10.3B |
| 净利润 | $194.6M | $2.1B |
| 毛利率 | 11.5% | 78.0% |
| 营业利润率 | 3.4% | 21.3% |
| 净利率 | 2.2% | 20.3% |
| 营收同比 | 20.1% | 8.6% |
| 净利润同比 | 96.2% | 36.6% |
| 每股收益（稀释后） | $3.74 | $2.19 |
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ARWCRM
| Q4 25 | $8.7B | $10.3B | ||
| Q3 25 | $7.7B | $10.2B | ||
| Q2 25 | $7.6B | $9.8B | ||
| Q1 25 | $6.8B | $10.0B | ||
| Q4 24 | $7.3B | $9.4B | ||
| Q3 24 | $6.8B | $9.3B | ||
| Q2 24 | $6.9B | $9.1B | ||
| Q1 24 | $6.9B | $9.3B |
净利润ARWCRM
| Q4 25 | $194.6M | $2.1B | ||
| Q3 25 | $109.2M | $1.9B | ||
| Q2 25 | $187.7M | $1.5B | ||
| Q1 25 | $79.7M | $1.7B | ||
| Q4 24 | $99.2M | $1.5B | ||
| Q3 24 | $100.6M | $1.4B | ||
| Q2 24 | $108.7M | $1.5B | ||
| Q1 24 | $83.6M | $1.4B |
毛利率ARWCRM
| Q4 25 | 11.5% | 78.0% | ||
| Q3 25 | 10.8% | 78.1% | ||
| Q2 25 | 11.2% | 77.0% | ||
| Q1 25 | 11.4% | 77.8% | ||
| Q4 24 | 11.0% | 77.7% | ||
| Q3 24 | 11.5% | 76.8% | ||
| Q2 24 | 12.3% | 76.3% | ||
| Q1 24 | 12.4% | 76.9% |
营业利润率ARWCRM
| Q4 25 | 3.4% | 21.3% | ||
| Q3 25 | 2.3% | 22.8% | ||
| Q2 25 | 2.5% | 19.8% | ||
| Q1 25 | 2.3% | 18.2% | ||
| Q4 24 | 2.7% | 20.0% | ||
| Q3 24 | 2.6% | 19.1% | ||
| Q2 24 | 3.1% | 18.7% | ||
| Q1 24 | 2.7% | 17.5% |
净利率ARWCRM
| Q4 25 | 2.2% | 20.3% | ||
| Q3 25 | 1.4% | 18.4% | ||
| Q2 25 | 2.5% | 15.7% | ||
| Q1 25 | 1.2% | 17.1% | ||
| Q4 24 | 1.4% | 16.2% | ||
| Q3 24 | 1.5% | 15.3% | ||
| Q2 24 | 1.6% | 16.8% | ||
| Q1 24 | 1.2% | 15.6% |
每股收益（稀释后）ARWCRM
| Q4 25 | $3.74 | $2.19 | ||
| Q3 25 | $2.09 | $1.96 | ||
| Q2 25 | $3.59 | $1.59 | ||
| Q1 25 | $1.51 | $1.75 | ||
| Q4 24 | $1.87 | $1.58 | ||
| Q3 24 | $1.88 | $1.47 | ||
| Q2 24 | $2.01 | $1.56 | ||
| Q1 24 | $1.53 | $1.47 |
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 | $306.5M | $9.0B |
| 总债务越低越好 | — | $8.4B |
| 股东权益账面价值 | $6.6B | $60.0B |
| 总资产 | $29.1B | $95.1B |
| 负债/权益比越低杠杆越低 | — | 0.14× |
8季度趋势，按日历期对齐
现金及短期投资ARWCRM
| Q4 25 | $306.5M | $9.0B | ||
| Q3 25 | $213.6M | $10.4B | ||
| Q2 25 | $222.0M | $10.9B | ||
| Q1 25 | $231.9M | $8.8B | ||
| Q4 24 | $188.8M | $8.0B | ||
| Q3 24 | $248.0M | $7.7B | ||
| Q2 24 | $213.0M | $10.0B | ||
| Q1 24 | $242.8M | $8.5B |
总债务ARWCRM
| Q4 25 | — | $8.4B | ||
| Q3 25 | — | $8.4B | ||
| Q2 25 | — | $8.4B | ||
| Q1 25 | — | $8.4B | ||
| Q4 24 | — | $8.4B | ||
| Q3 24 | — | $8.4B | ||
| Q2 24 | — | $9.4B | ||
| Q1 24 | — | $9.4B |
股东权益ARWCRM
| Q4 25 | $6.6B | $60.0B | ||
| Q3 25 | $6.4B | $61.3B | ||
| Q2 25 | $6.3B | $60.7B | ||
| Q1 25 | $5.9B | $61.2B | ||
| Q4 24 | $5.8B | $58.5B | ||
| Q3 24 | $6.0B | $57.6B | ||
| Q2 24 | $5.7B | $59.7B | ||
| Q1 24 | $5.7B | $59.6B |
总资产ARWCRM
| Q4 25 | $29.1B | $95.1B | ||
| Q3 25 | $24.5B | $97.6B | ||
| Q2 25 | $24.3B | $98.6B | ||
| Q1 25 | $21.4B | $102.9B | ||
| Q4 24 | $21.8B | $91.4B | ||
| Q3 24 | $20.9B | $92.2B | ||
| Q2 24 | $20.1B | $96.2B | ||
| Q1 24 | $20.3B | $99.8B |
负债/权益比ARWCRM
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 0.14× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | 0.14× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.16× | ||
| Q1 24 | — | 0.16× |
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 | $199.9M | $2.3B |
| 自由现金流经营现金流 - 资本支出 | $172.6M | $2.2B |
| 自由现金流率自由现金流/营收 | 2.0% | 21.2% |
| 资本支出强度资本支出/营收 | 0.3% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.03× | 1.11× |
| 过去12个月自由现金流最近4个季度 | $-37.2M | $12.9B |
8季度趋势，按日历期对齐
经营现金流ARWCRM
| Q4 25 | $199.9M | $2.3B | ||
| Q3 25 | $-281.7M | $740.0M | ||
| Q2 25 | $-205.9M | $6.5B | ||
| Q1 25 | $351.7M | $4.0B | ||
| Q4 24 | $326.5M | $2.0B | ||
| Q3 24 | $80.6M | $892.0M | ||
| Q2 24 | $320.2M | $6.2B | ||
| Q1 24 | $403.2M | $3.4B |
自由现金流ARWCRM
| Q4 25 | $172.6M | $2.2B | ||
| Q3 25 | $-312.0M | $605.0M | ||
| Q2 25 | $-224.5M | $6.3B | ||
| Q1 25 | $326.7M | $3.8B | ||
| Q4 24 | $303.9M | $1.8B | ||
| Q3 24 | $62.0M | $755.0M | ||
| Q2 24 | $298.1M | $6.1B | ||
| Q1 24 | $373.7M | $3.3B |
自由现金流率ARWCRM
| Q4 25 | 2.0% | 21.2% | ||
| Q3 25 | -4.0% | 5.9% | ||
| Q2 25 | -3.0% | 64.1% | ||
| Q1 25 | 4.8% | 38.2% | ||
| Q4 24 | 4.2% | 18.8% | ||
| Q3 24 | 0.9% | 8.1% | ||
| Q2 24 | 4.3% | 66.6% | ||
| Q1 24 | 5.4% | 35.1% |
资本支出强度ARWCRM
| Q4 25 | 0.3% | 1.4% | ||
| Q3 25 | 0.4% | 1.3% | ||
| Q2 25 | 0.2% | 1.8% | ||
| Q1 25 | 0.4% | 1.5% | ||
| Q4 24 | 0.3% | 2.2% | ||
| Q3 24 | 0.3% | 1.5% | ||
| Q2 24 | 0.3% | 1.8% | ||
| Q1 24 | 0.4% | 1.6% |
现金转化率ARWCRM
| Q4 25 | 1.03× | 1.11× | ||
| Q3 25 | -2.58× | 0.39× | ||
| Q2 25 | -1.10× | 4.20× | ||
| Q1 25 | 4.41× | 2.32× | ||
| Q4 24 | 3.29× | 1.30× | ||
| Q3 24 | 0.80× | 0.62× | ||
| Q2 24 | 2.95× | 4.08× | ||
| Q1 24 | 4.82× | 2.35× |
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
ARW
暂无分部数据
CRM
| Agentforce Service | $2.5B | 24% |
| Agentforce Sales | $2.3B | 22% |
| Agentforce360Platform Slack And Other | $2.2B | 21% |
| Agentforce Integration And Agentforce Analytics | $1.4B | 14% |
| Agentforce Marketing And Agentforce Commerce | $1.4B | 13% |
| Professional Servicesand Other | $533.0M | 5% |
