vs
艾睿电子（ARW）与拼多多（PDD）财务数据对比。点击上方公司名可切换其他公司
拼多多的季度营收约是艾睿电子的1.7倍（$15.2B vs $8.7B），拼多多净利率更高（27.1% vs 2.2%，领先24.9%），过去两年拼多多的营收复合增速更高（74.6% vs 12.4%）
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。
PDD控股是总部位于爱尔兰的跨国企业，旗下拥有中国头部线上零售平台拼多多和跨境电商平台Temu。拼多多主打农业供应链数字化升级，助力农产品直接对接广大消费者需求。
ARW vs PDD — 直观对比
营收规模更大
PDD
是对方的1.7倍
$8.7B
净利率更高
PDD
高出24.9%
2.2%
两年增速更快
PDD
近两年复合增速
12.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $8.7B | $15.2B |
| 净利润 | $194.6M | $4.1B |
| 毛利率 | 11.5% | 56.7% |
| 营业利润率 | 3.4% | 23.1% |
| 净利率 | 2.2% | 27.1% |
| 营收同比 | 20.1% | — |
| 净利润同比 | 96.2% | — |
| 每股收益（稀释后） | $3.74 | — |
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ARWPDD
| Q4 25 | $8.7B | — | ||
| Q3 25 | $7.7B | $15.2B | ||
| Q2 25 | $7.6B | $14.5B | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | $6.8B | $14.2B | ||
| Q2 24 | $6.9B | — | ||
| Q1 24 | $6.9B | $12.0B |
净利润ARWPDD
| Q4 25 | $194.6M | — | ||
| Q3 25 | $109.2M | $4.1B | ||
| Q2 25 | $187.7M | $4.3B | ||
| Q1 25 | $79.7M | — | ||
| Q4 24 | $99.2M | — | ||
| Q3 24 | $100.6M | $3.6B | ||
| Q2 24 | $108.7M | — | ||
| Q1 24 | $83.6M | $3.9B |
毛利率ARWPDD
| Q4 25 | 11.5% | — | ||
| Q3 25 | 10.8% | 56.7% | ||
| Q2 25 | 11.2% | 55.9% | ||
| Q1 25 | 11.4% | — | ||
| Q4 24 | 11.0% | — | ||
| Q3 24 | 11.5% | 60.0% | ||
| Q2 24 | 12.3% | — | ||
| Q1 24 | 12.4% | 62.3% |
营业利润率ARWPDD
| Q4 25 | 3.4% | — | ||
| Q3 25 | 2.3% | 23.1% | ||
| Q2 25 | 2.5% | 24.8% | ||
| Q1 25 | 2.3% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 2.6% | 24.5% | ||
| Q2 24 | 3.1% | — | ||
| Q1 24 | 2.7% | 29.9% |
净利率ARWPDD
| Q4 25 | 2.2% | — | ||
| Q3 25 | 1.4% | 27.1% | ||
| Q2 25 | 2.5% | 29.6% | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.5% | 25.1% | ||
| Q2 24 | 1.6% | — | ||
| Q1 24 | 1.2% | 32.3% |
每股收益（稀释后）ARWPDD
| Q4 25 | $3.74 | — | ||
| Q3 25 | $2.09 | — | ||
| Q2 25 | $3.59 | — | ||
| Q1 25 | $1.51 | — | ||
| Q4 24 | $1.87 | — | ||
| Q3 24 | $1.88 | — | ||
| Q2 24 | $2.01 | — | ||
| Q1 24 | $1.53 | — |
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 | $13.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.6B | $55.0B |
| 总资产 | $29.1B | $86.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ARWPDD
| Q4 25 | $306.5M | — | ||
| Q3 25 | $213.6M | $13.0B | ||
| Q2 25 | $222.0M | $8.8B | ||
| Q1 25 | $231.9M | — | ||
| Q4 24 | $188.8M | — | ||
| Q3 24 | $248.0M | $9.3B | ||
| Q2 24 | $213.0M | — | ||
| Q1 24 | $242.8M | $7.7B |
股东权益ARWPDD
| Q4 25 | $6.6B | — | ||
| Q3 25 | $6.4B | $55.0B | ||
| Q2 25 | $6.3B | $50.5B | ||
| Q1 25 | $5.9B | — | ||
| Q4 24 | $5.8B | — | ||
| Q3 24 | $6.0B | $39.7B | ||
| Q2 24 | $5.7B | — | ||
| Q1 24 | $5.7B | $30.3B |
总资产ARWPDD
| Q4 25 | $29.1B | — | ||
| Q3 25 | $24.5B | $86.2B | ||
| Q2 25 | $24.3B | $79.2B | ||
| Q1 25 | $21.4B | — | ||
| Q4 24 | $21.8B | — | ||
| Q3 24 | $20.9B | $66.5B | ||
| Q2 24 | $20.1B | — | ||
| Q1 24 | $20.3B | $52.3B |
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 | $6.4B |
| 自由现金流经营现金流 - 资本支出 | $172.6M | — |
| 自由现金流率自由现金流/营收 | 2.0% | — |
| 资本支出强度资本支出/营收 | 0.3% | — |
| 现金转化率经营现金流/净利润 | 1.03× | 1.56× |
| 过去12个月自由现金流最近4个季度 | $-37.2M | — |
8季度趋势，按日历期对齐
经营现金流ARWPDD
| Q4 25 | $199.9M | — | ||
| Q3 25 | $-281.7M | $6.4B | ||
| Q2 25 | $-205.9M | $3.0B | ||
| Q1 25 | $351.7M | — | ||
| Q4 24 | $326.5M | — | ||
| Q3 24 | $80.6M | $3.9B | ||
| Q2 24 | $320.2M | — | ||
| Q1 24 | $403.2M | $2.9B |
自由现金流ARWPDD
| Q4 25 | $172.6M | — | ||
| Q3 25 | $-312.0M | — | ||
| Q2 25 | $-224.5M | — | ||
| Q1 25 | $326.7M | — | ||
| Q4 24 | $303.9M | — | ||
| Q3 24 | $62.0M | — | ||
| Q2 24 | $298.1M | — | ||
| Q1 24 | $373.7M | — |
自由现金流率ARWPDD
| Q4 25 | 2.0% | — | ||
| Q3 25 | -4.0% | — | ||
| Q2 25 | -3.0% | — | ||
| Q1 25 | 4.8% | — | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 4.3% | — | ||
| Q1 24 | 5.4% | — |
资本支出强度ARWPDD
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.3% | — | ||
| Q2 24 | 0.3% | — | ||
| Q1 24 | 0.4% | — |
现金转化率ARWPDD
| Q4 25 | 1.03× | — | ||
| Q3 25 | -2.58× | 1.56× | ||
| Q2 25 | -1.10× | 0.70× | ||
| Q1 25 | 4.41× | — | ||
| Q4 24 | 3.29× | — | ||
| Q3 24 | 0.80× | 1.10× | ||
| Q2 24 | 2.95× | — | ||
| Q1 24 | 4.82× | 0.75× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
