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博通（AVGO）与L3Harris（LHX）财务数据对比。点击上方公司名可切换其他公司
L3Harris的季度营收约是博通的1.2倍（$21.9B vs $18.0B），博通同比增速更快（28.2% vs 2.5%），过去两年L3Harris的营收复合增速更高（102.4% vs 22.7%）
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。
L3Harris Technologies是美国科技企业、国防承包商及信息技术服务提供商，产品涵盖指挥控制系统、无线设备、战术电台、航电与电子系统、夜视设备、C3ISR系统、海洋系统、导航产品、训练设备及服务、陆基与星载天线等，主要服务政府领域客户。
AVGO vs LHX — 直观对比
营收规模更大
LHX
是对方的1.2倍
$18.0B
营收增速更快
AVGO
高出25.7%
2.5%
两年增速更快
LHX
近两年复合增速
22.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $18.0B | $21.9B |
| 净利润 | $8.5B | — |
| 毛利率 | 68.0% | 25.7% |
| 营业利润率 | 41.7% | 9.7% |
| 净利率 | 47.3% | — |
| 营收同比 | 28.2% | 2.5% |
| 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AVGOLHX
| Q1 26 | — | $21.9B | ||
| Q4 25 | $18.0B | $5.7B | ||
| Q3 25 | $16.0B | — | ||
| Q2 25 | $15.0B | $5.4B | ||
| Q1 25 | $14.9B | $5.5B | ||
| Q4 24 | $14.1B | — | ||
| Q3 24 | $13.1B | $5.3B | ||
| Q2 24 | $12.5B | $5.3B |
净利润AVGOLHX
| Q1 26 | — | — | ||
| Q4 25 | $8.5B | $462.0M | ||
| Q3 25 | $4.1B | — | ||
| Q2 25 | $5.0B | $458.0M | ||
| Q1 25 | $5.5B | $453.0M | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $-1.9B | $400.0M | ||
| Q2 24 | $2.1B | $366.0M |
毛利率AVGOLHX
| Q1 26 | — | 25.7% | ||
| Q4 25 | 68.0% | 26.4% | ||
| Q3 25 | 67.1% | — | ||
| Q2 25 | 68.0% | 24.6% | ||
| Q1 25 | 68.0% | 25.3% | ||
| Q4 24 | 64.1% | — | ||
| Q3 24 | 63.9% | 26.8% | ||
| Q2 24 | 62.3% | 25.7% |
营业利润率AVGOLHX
| Q1 26 | — | 9.7% | ||
| Q4 25 | 41.7% | 11.0% | ||
| Q3 25 | 36.9% | — | ||
| Q2 25 | 38.8% | 10.5% | ||
| Q1 25 | 42.0% | 10.3% | ||
| Q4 24 | 32.9% | — | ||
| Q3 24 | 29.0% | 9.4% | ||
| Q2 24 | 23.7% | 9.0% |
净利率AVGOLHX
| Q1 26 | — | — | ||
| Q4 25 | 47.3% | 8.2% | ||
| Q3 25 | 26.0% | — | ||
| Q2 25 | 33.1% | 8.4% | ||
| Q1 25 | 36.9% | 8.2% | ||
| Q4 24 | 30.8% | — | ||
| Q3 24 | -14.3% | 7.6% | ||
| Q2 24 | 17.0% | 6.9% |
每股收益（稀释后）AVGOLHX
| Q1 26 | — | — | ||
| Q4 25 | $1.75 | $2.46 | ||
| Q3 25 | $0.85 | — | ||
| Q2 25 | $1.03 | $2.44 | ||
| Q1 25 | $1.14 | $2.37 | ||
| Q4 24 | $-5.63 | — | ||
| Q3 24 | $-0.40 | $2.10 | ||
| Q2 24 | $4.42 | $1.92 |
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 | $16.2B | $1.1B |
| 总债务越低越好 | $62.0B | $10.4B |
| 股东权益账面价值 | $81.3B | $19.6B |
| 总资产 | $171.1B | $41.2B |
| 负债/权益比越低杠杆越低 | 0.76× | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资AVGOLHX
| Q1 26 | — | $1.1B | ||
| Q4 25 | $16.2B | $339.0M | ||
| Q3 25 | $10.7B | — | ||
| Q2 25 | $9.5B | $482.0M | ||
| Q1 25 | $9.3B | $615.0M | ||
| Q4 24 | $9.3B | — | ||
| Q3 24 | $10.0B | $539.0M | ||
| Q2 24 | $9.8B | $547.0M |
总债务AVGOLHX
| Q1 26 | — | $10.4B | ||
| Q4 25 | $62.0B | $11.0B | ||
| Q3 25 | $62.8B | — | ||
| Q2 25 | $61.8B | $11.0B | ||
| Q1 25 | $60.9B | $11.1B | ||
| Q4 24 | $66.3B | — | ||
| Q3 24 | $66.8B | $11.1B | ||
| Q2 24 | $71.6B | $10.5B |
股东权益AVGOLHX
| Q1 26 | — | $19.6B | ||
| Q4 25 | $81.3B | $19.5B | ||
| Q3 25 | $73.3B | — | ||
| Q2 25 | $69.6B | $19.3B | ||
| Q1 25 | $69.8B | $19.5B | ||
| Q4 24 | $67.7B | — | ||
| Q3 24 | $65.7B | $19.0B | ||
| Q2 24 | $70.0B | $18.8B |
总资产AVGOLHX
| Q1 26 | — | $41.2B | ||
| Q4 25 | $171.1B | $41.0B | ||
| Q3 25 | $165.6B | — | ||
| Q2 25 | $164.6B | $41.2B | ||
| Q1 25 | $165.4B | $42.0B | ||
| Q4 24 | $165.6B | — | ||
| Q3 24 | $168.0B | $41.9B | ||
| Q2 24 | $175.2B | $41.7B |
负债/权益比AVGOLHX
| Q1 26 | — | 0.53× | ||
| Q4 25 | 0.76× | 0.56× | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.89× | 0.57× | ||
| Q1 25 | 0.87× | 0.57× | ||
| Q4 24 | 0.98× | — | ||
| Q3 24 | 1.02× | 0.58× | ||
| Q2 24 | 1.02× | 0.56× |
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 | $7.7B | — |
| 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AVGOLHX
| Q1 26 | — | — | ||
| Q4 25 | $7.7B | $546.0M | ||
| Q3 25 | $7.2B | — | ||
| Q2 25 | $6.6B | $640.0M | ||
| Q1 25 | $6.1B | $1.1B | ||
| Q4 24 | $5.6B | — | ||
| Q3 24 | $5.0B | $780.0M | ||
| Q2 24 | $4.6B | $754.0M |
自由现金流AVGOLHX
| Q1 26 | — | — | ||
| Q4 25 | $7.5B | $427.0M | ||
| Q3 25 | $7.0B | — | ||
| Q2 25 | $6.4B | $552.0M | ||
| Q1 25 | $6.0B | $1.0B | ||
| Q4 24 | $5.5B | — | ||
| Q3 24 | $4.8B | $702.0M | ||
| Q2 24 | $4.4B | $657.0M |
自由现金流率AVGOLHX
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 7.5% | ||
| Q3 25 | 44.0% | — | ||
| Q2 25 | 42.7% | 10.2% | ||
| Q1 25 | 40.3% | 18.3% | ||
| Q4 24 | 39.0% | — | ||
| Q3 24 | 36.7% | 13.3% | ||
| Q2 24 | 35.6% | 12.4% |
资本支出强度AVGOLHX
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 2.1% | ||
| Q3 25 | 0.9% | — | ||
| Q2 25 | 1.0% | 1.6% | ||
| Q1 25 | 0.7% | 2.1% | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.3% | 1.5% | ||
| Q2 24 | 1.1% | 1.8% |
现金转化率AVGOLHX
| Q1 26 | — | — | ||
| Q4 25 | 0.90× | 1.18× | ||
| Q3 25 | 1.73× | — | ||
| Q2 25 | 1.32× | 1.40× | ||
| Q1 25 | 1.11× | 2.49× | ||
| Q4 24 | 1.30× | — | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | 2.16× | 2.06× |
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% |
LHX
| Space And Airborne Systems Segment | $6.9B | 32% |
| Integrated Mission Systems Segment | $6.6B | 30% |
| Communication Systems Segment | $5.7B | 26% |
| Aerojet Rocketdyne Segment | $2.8B | 13% |
