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安富利（AVT）与贝宝（PYPL）财务数据对比。点击上方公司名可切换其他公司
贝宝的季度营收约是安富利的1.4倍（$8.7B vs $6.3B），贝宝净利率更高（16.6% vs 1.0%，领先15.6%），安富利同比增速更快（11.6% vs 3.7%），贝宝自由现金流更多（$2.2B vs $192.9M），过去两年贝宝的营收复合增速更高（6.2% vs 5.7%）
安富利是全球知名的电子元器件分销商，总部位于美国亚利桑那州凤凰城，由查尔斯·安富利于1921年创立，最初起步于曼哈顿无线电街。1955年公司正式注册成立，1961年在纽约证券交易所上市，2018年5月8日转至纳斯达克挂牌交易，股票代码仍为AVT。
贝宝控股（PayPal Holdings, Inc.）是美国跨国金融科技企业，在全球多数支持线上转账的国家运营在线支付系统，可作为支票、汇票等传统纸质支付方式的电子替代选项，同时为线上商户、拍卖网站及各类商业用户提供支付处理服务。
AVT vs PYPL — 直观对比
营收规模更大
PYPL
是对方的1.4倍
$6.3B
营收增速更快
AVT
高出7.9%
3.7%
净利率更高
PYPL
高出15.6%
1.0%
自由现金流更多
PYPL
多$2.0B
$192.9M
两年增速更快
PYPL
近两年复合增速
5.7%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $8.7B |
| 净利润 | $61.7M | $1.4B |
| 毛利率 | 10.5% | — |
| 营业利润率 | 2.3% | 17.4% |
| 净利率 | 1.0% | 16.6% |
| 营收同比 | 11.6% | 3.7% |
| 净利润同比 | -29.2% | 28.2% |
| 每股收益（稀释后） | $0.75 | $1.53 |
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AVTPYPL
| Q4 25 | $6.3B | $8.7B | ||
| Q3 25 | $5.9B | $8.4B | ||
| Q2 25 | $5.6B | $8.3B | ||
| Q1 25 | $5.3B | $7.8B | ||
| Q4 24 | $5.7B | $8.4B | ||
| Q3 24 | $5.6B | $7.8B | ||
| Q2 24 | $5.6B | $7.9B | ||
| Q1 24 | $5.7B | $7.7B |
净利润AVTPYPL
| Q4 25 | $61.7M | $1.4B | ||
| Q3 25 | $51.7M | $1.2B | ||
| Q2 25 | $6.1M | $1.3B | ||
| Q1 25 | $87.9M | $1.3B | ||
| Q4 24 | $87.3M | $1.1B | ||
| Q3 24 | $59.0M | $1.0B | ||
| Q2 24 | $82.7M | $1.1B | ||
| Q1 24 | $88.8M | $888.0M |
毛利率AVTPYPL
| Q4 25 | 10.5% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 10.6% | — | ||
| Q1 25 | 11.1% | — | ||
| Q4 24 | 10.5% | — | ||
| Q3 24 | 10.8% | — | ||
| Q2 24 | 11.6% | — | ||
| Q1 24 | 11.8% | — |
营业利润率AVTPYPL
| Q4 25 | 2.3% | 17.4% | ||
| Q3 25 | 2.4% | 18.1% | ||
| Q2 25 | 1.3% | 18.1% | ||
| Q1 25 | 2.7% | 19.6% | ||
| Q4 24 | 2.7% | 17.2% | ||
| Q3 24 | 2.5% | 17.7% | ||
| Q2 24 | 3.0% | 16.8% | ||
| Q1 24 | 3.4% | 15.2% |
净利率AVTPYPL
| Q4 25 | 1.0% | 16.6% | ||
| Q3 25 | 0.9% | 14.8% | ||
| Q2 25 | 0.1% | 15.2% | ||
| Q1 25 | 1.7% | 16.5% | ||
| Q4 24 | 1.5% | 13.4% | ||
| Q3 24 | 1.1% | 12.9% | ||
| Q2 24 | 1.5% | 14.3% | ||
| Q1 24 | 1.6% | 11.5% |
每股收益（稀释后）AVTPYPL
| Q4 25 | $0.75 | $1.53 | ||
| Q3 25 | $0.61 | $1.30 | ||
| Q2 25 | $0.09 | $1.29 | ||
| Q1 25 | $1.01 | $1.29 | ||
| Q4 24 | $0.99 | $1.09 | ||
| Q3 24 | $0.66 | $0.99 | ||
| Q2 24 | $0.93 | $1.08 | ||
| Q1 24 | $0.97 | $0.83 |
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 | $286.5M | $10.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.9B | $20.3B |
| 总资产 | $13.2B | $80.2B |
| 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AVTPYPL
| Q4 25 | $286.5M | $10.4B | ||
| Q3 25 | $175.5M | $10.8B | ||
| Q2 25 | $192.4M | $10.0B | ||
| Q1 25 | $188.9M | $11.2B | ||
| Q4 24 | $172.1M | $10.8B | ||
| Q3 24 | $267.5M | $11.9B | ||
| Q2 24 | $310.9M | $13.6B | ||
| Q1 24 | $218.5M | $14.3B |
股东权益AVTPYPL
| Q4 25 | $4.9B | $20.3B | ||
| Q3 25 | $4.8B | $20.2B | ||
| Q2 25 | $5.0B | $20.2B | ||
| Q1 25 | $4.9B | $20.3B | ||
| Q4 24 | $4.8B | $20.4B | ||
| Q3 24 | $5.0B | $20.2B | ||
| Q2 24 | $4.9B | $20.6B | ||
| Q1 24 | $5.0B | $20.7B |
总资产AVTPYPL
| Q4 25 | $13.2B | $80.2B | ||
| Q3 25 | $12.4B | $79.8B | ||
| Q2 25 | $12.1B | $79.8B | ||
| Q1 25 | $11.7B | $81.3B | ||
| Q4 24 | $11.9B | $81.6B | ||
| Q3 24 | $12.6B | $83.5B | ||
| Q2 24 | $12.2B | $84.0B | ||
| Q1 24 | $12.3B | $83.3B |
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 | $208.2M | $2.4B |
| 自由现金流经营现金流 - 资本支出 | $192.9M | $2.2B |
| 自由现金流率自由现金流/营收 | 3.1% | 25.2% |
| 资本支出强度资本支出/营收 | 0.2% | 2.2% |
| 现金转化率经营现金流/净利润 | 3.37× | 1.66× |
| 过去12个月自由现金流最近4个季度 | $217.7M | $5.6B |
8季度趋势，按日历期对齐
经营现金流AVTPYPL
| Q4 25 | $208.2M | $2.4B | ||
| Q3 25 | $-144.6M | $2.0B | ||
| Q2 25 | $139.5M | $898.0M | ||
| Q1 25 | $140.9M | $1.2B | ||
| Q4 24 | $337.8M | $2.4B | ||
| Q3 24 | $106.3M | $1.6B | ||
| Q2 24 | $274.3M | $1.5B | ||
| Q1 24 | $499.3M | $1.9B |
自由现金流AVTPYPL
| Q4 25 | $192.9M | $2.2B | ||
| Q3 25 | $-169.2M | $1.7B | ||
| Q2 25 | $79.9M | $692.0M | ||
| Q1 25 | $114.1M | $964.0M | ||
| Q4 24 | $308.5M | $2.2B | ||
| Q3 24 | $74.5M | $1.4B | ||
| Q2 24 | $248.0M | $1.4B | ||
| Q1 24 | $457.2M | $1.8B |
自由现金流率AVTPYPL
| Q4 25 | 3.1% | 25.2% | ||
| Q3 25 | -2.9% | 20.4% | ||
| Q2 25 | 1.4% | 8.3% | ||
| Q1 25 | 2.1% | 12.4% | ||
| Q4 24 | 5.4% | 26.2% | ||
| Q3 24 | 1.3% | 18.4% | ||
| Q2 24 | 4.5% | 17.3% | ||
| Q1 24 | 8.1% | 22.9% |
资本支出强度AVTPYPL
| Q4 25 | 0.2% | 2.2% | ||
| Q3 25 | 0.4% | 3.0% | ||
| Q2 25 | 1.1% | 2.5% | ||
| Q1 25 | 0.5% | 2.5% | ||
| Q4 24 | 0.5% | 2.4% | ||
| Q3 24 | 0.6% | 2.2% | ||
| Q2 24 | 0.5% | 2.0% | ||
| Q1 24 | 0.7% | 2.0% |
现金转化率AVTPYPL
| Q4 25 | 3.37× | 1.66× | ||
| Q3 25 | -2.79× | 1.58× | ||
| Q2 25 | 22.91× | 0.71× | ||
| Q1 25 | 1.60× | 0.90× | ||
| Q4 24 | 3.87× | 2.14× | ||
| Q3 24 | 1.80× | 1.60× | ||
| Q2 24 | 3.32× | 1.35× | ||
| Q1 24 | 5.62× | 2.16× |
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
AVT
| Electronic Components | $5.9B | 93% |
| Premier Farnell | $427.1M | 7% |
PYPL
| US | $4.9B | 57% |
| Non Us | $3.7B | 43% |
