vs
博通（AVGO）与银河数字（GLXY）财务数据对比。点击上方公司名可切换其他公司
银河数字的季度营收约是博通的1.3倍（$23.3B vs $18.0B），博通净利率更高（47.3% vs -3.3%，领先50.6%）
博通公司是美国跨国企业，主营各类半导体与基础设施软件产品的设计、研发、生产及全球供应，产品广泛服务于数据中心、网络、软件、宽带、无线、存储及工业领域。借AI发展热潮，2025年博通已跻身全球顶级企业行列，为“七巨头”科技阵营成员。
Galaxy Digital 是一家专注于数字资产与区块链的金融服务公司，总部位于美国纽约，由 Michael Novogratz 于 2018 年创立。公司面向机构客户提供资产管理、交易、投资银行业务，以及涵盖数据中心和高性能算力的数字基础设施服务，业务覆盖加密货币与更广义的数字经济领域，股票在纳斯达克以代码 GLXY 交易。
AVGO vs GLXY — 直观对比
营收规模更大
GL
GLXY
是对方的1.3倍
GL
$23.3B$18.0B
净利率更高
AVGO
高出50.6%
-3.3%
GL
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | GL GLXY |
|---|---|---|
| 营收 | $18.0B | $23.3B |
| 净利润 | $8.5B | $-777.1M |
| 毛利率 | 68.0% | — |
| 营业利润率 | 41.7% | -3.7% |
| 净利率 | 47.3% | -3.3% |
| 营收同比 | 28.2% | — |
| 净利润同比 | 97.0% | — |
| 每股收益（稀释后） | $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AVGO
GL
GLXY| Q4 25 | $18.0B | $23.3B | ||
| Q3 25 | $16.0B | $28.4B | ||
| Q2 25 | $15.0B | $8.6B | ||
| Q1 25 | $14.9B | $0 | ||
| Q4 24 | $14.1B | — | ||
| Q3 24 | $13.1B | $8.5B | ||
| Q2 24 | $12.5B | $8.9B | ||
| Q1 24 | $12.0B | $0 |
净利润AVGO
GL
GLXY| Q4 25 | $8.5B | $-777.1M | ||
| Q3 25 | $4.1B | $505.1M | ||
| Q2 25 | $5.0B | $30.7M | ||
| Q1 25 | $5.5B | $0 | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $-1.9B | $-33.3M | ||
| Q2 24 | $2.1B | $-125.6M | ||
| Q1 24 | $1.3B | $-1.0K |
毛利率AVGO
GL
GLXY| Q4 25 | 68.0% | — | ||
| Q3 25 | 67.1% | — | ||
| Q2 25 | 68.0% | — | ||
| Q1 25 | 68.0% | — | ||
| Q4 24 | 64.1% | — | ||
| Q3 24 | 63.9% | — | ||
| Q2 24 | 62.3% | — | ||
| Q1 24 | 61.7% | — |
营业利润率AVGO
GL
GLXY| Q4 25 | 41.7% | -3.7% | ||
| Q3 25 | 36.9% | 1.9% | ||
| Q2 25 | 38.8% | 0.5% | ||
| Q1 25 | 42.0% | — | ||
| Q4 24 | 32.9% | — | ||
| Q3 24 | 29.0% | -0.5% | ||
| Q2 24 | 23.7% | -1.6% | ||
| Q1 24 | 17.4% | — |
净利率AVGO
GL
GLXY| Q4 25 | 47.3% | -3.3% | ||
| Q3 25 | 26.0% | 1.8% | ||
| Q2 25 | 33.1% | 0.4% | ||
| Q1 25 | 36.9% | — | ||
| Q4 24 | 30.8% | — | ||
| Q3 24 | -14.3% | -0.4% | ||
| Q2 24 | 17.0% | -1.4% | ||
| Q1 24 | 11.1% | — |
每股收益（稀释后）AVGO
GL
GLXY| Q4 25 | $1.75 | — | ||
| Q3 25 | $0.85 | — | ||
| Q2 25 | $1.03 | — | ||
| Q1 25 | $1.14 | — | ||
| Q4 24 | $-5.63 | — | ||
| Q3 24 | $-0.40 | — | ||
| Q2 24 | $4.42 | — | ||
| Q1 24 | $2.84 | — |
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 | | GL GLXY |
|---|---|---|
| 现金及短期投资手头流动性 | $16.2B | $2.0B |
| 总债务越低越好 | $62.0B | — |
| 股东权益账面价值 | $81.3B | $2.0B |
| 总资产 | $171.1B | $11.3B |
| 负债/权益比越低杠杆越低 | 0.76× | — |
8季度趋势，按日历期对齐
现金及短期投资AVGO
GL
GLXY| Q4 25 | $16.2B | $2.0B | ||
| Q3 25 | $10.7B | $2.0B | ||
| Q2 25 | $9.5B | $1.4B | ||
| Q1 25 | $9.3B | $1.0K | ||
| Q4 24 | $9.3B | — | ||
| Q3 24 | $10.0B | — | ||
| Q2 24 | $9.8B | — | ||
| Q1 24 | $11.9B | — |
总债务AVGO
GL
GLXY| Q4 25 | $62.0B | — | ||
| Q3 25 | $62.8B | — | ||
| Q2 25 | $61.8B | — | ||
| Q1 25 | $60.9B | — | ||
| Q4 24 | $66.3B | — | ||
| Q3 24 | $66.8B | — | ||
| Q2 24 | $71.6B | — | ||
| Q1 24 | $73.5B | — |
股东权益AVGO
GL
GLXY| Q4 25 | $81.3B | $2.0B | ||
| Q3 25 | $73.3B | $1.8B | ||
| Q2 25 | $69.6B | $1.5B | ||
| Q1 25 | $69.8B | $1.0K | ||
| Q4 24 | $67.7B | — | ||
| Q3 24 | $65.7B | $2.1B | ||
| Q2 24 | $70.0B | $2.1B | ||
| Q1 24 | $70.3B | $2.0K |
总资产AVGO
GL
GLXY| Q4 25 | $171.1B | $11.3B | ||
| Q3 25 | $165.6B | $11.5B | ||
| Q2 25 | $164.6B | $9.1B | ||
| Q1 25 | $165.4B | $1.0K | ||
| Q4 24 | $165.6B | — | ||
| Q3 24 | $168.0B | — | ||
| Q2 24 | $175.2B | — | ||
| Q1 24 | $177.9B | — |
负债/权益比AVGO
GL
GLXY| Q4 25 | 0.76× | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.89× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | 0.98× | — | ||
| Q3 24 | 1.02× | — | ||
| Q2 24 | 1.02× | — | ||
| Q1 24 | 1.05× | — |
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 | | GL GLXY |
|---|---|---|
| 经营现金流最新季度 | $7.7B | $-1.1B |
| 自由现金流经营现金流 - 资本支出 | $7.5B | — |
| 自由现金流率自由现金流/营收 | 41.4% | — |
| 资本支出强度资本支出/营收 | 1.3% | — |
| 现金转化率经营现金流/净利润 | 0.90× | — |
| 过去12个月自由现金流最近4个季度 | $26.9B | — |
8季度趋势，按日历期对齐
经营现金流AVGO
GL
GLXY| Q4 25 | $7.7B | $-1.1B | ||
| Q3 25 | $7.2B | $427.7M | ||
| Q2 25 | $6.6B | $329.3M | ||
| Q1 25 | $6.1B | $0 | ||
| Q4 24 | $5.6B | — | ||
| Q3 24 | $5.0B | — | ||
| Q2 24 | $4.6B | — | ||
| Q1 24 | $4.8B | $-1.0K |
自由现金流AVGO
GL
GLXY| Q4 25 | $7.5B | — | ||
| Q3 25 | $7.0B | $189.6M | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.0B | — | ||
| Q4 24 | $5.5B | — | ||
| Q3 24 | $4.8B | — | ||
| Q2 24 | $4.4B | — | ||
| Q1 24 | $4.7B | — |
自由现金流率AVGO
GL
GLXY| Q4 25 | 41.4% | — | ||
| Q3 25 | 44.0% | 0.7% | ||
| Q2 25 | 42.7% | — | ||
| Q1 25 | 40.3% | — | ||
| Q4 24 | 39.0% | — | ||
| Q3 24 | 36.7% | — | ||
| Q2 24 | 35.6% | — | ||
| Q1 24 | 39.2% | — |
资本支出强度AVGO
GL
GLXY| Q4 25 | 1.3% | — | ||
| Q3 25 | 0.9% | 0.8% | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 1.0% | — |
现金转化率AVGO
GL
GLXY| Q4 25 | 0.90× | — | ||
| Q3 25 | 1.73× | 0.85× | ||
| Q2 25 | 1.32× | 10.73× | ||
| Q1 25 | 1.11× | — | ||
| Q4 24 | 1.30× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.16× | — | ||
| Q1 24 | 3.63× | — |
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
AVGO
| Semiconductor Solutions | $11.1B | 61% |
| Infrastructure Software | $6.9B | 39% |
GLGLXY
| Other | $13.0B | 56% |
| Digital Assets Sales | $10.2B | 44% |
| Blockchain Rewards | $57.0M | 0% |
| Fee | $27.4M | 0% |
| Blockchain Rewards From Non Customers | $1.7M | 0% |
