vs
美国运通（AXP）与英特尔（INTC）财务数据对比。点击上方公司名可切换其他公司
英特尔的季度营收约是美国运通的1.2倍（$13.6B vs $10.9B），美国运通净利率更高（22.5% vs -6.5%，领先29.0%），美国运通同比增速更快（9.9% vs 7.0%），美国运通自由现金流更多（$2.3B vs $-2.0B），过去两年美国运通的营收复合增速更高（8.2% vs 2.9%）
美国运通是全球知名的支付服务提供商，主营签账卡、信用卡产品及旅行相关服务，下设全球消费者服务、全球商业服务、全球商户与网络服务三大业务板块，还提供支付融资、网络服务、应付账款费用管理、旅行生活服务等多元解决方案。
英特尔是总部位于美国加利福尼亚州圣克拉拉的跨国科技企业，主营CPU等计算机核心零部件的研发、生产与销售，产品覆盖企业级及消费级市场。2024年按营收统计为全球第三大半导体芯片制造商，自2007年起持续入选美国财富500强榜单。
AXP vs INTC — 直观对比
营收规模更大
INTC
是对方的1.2倍
$10.9B
营收增速更快
AXP
高出2.9%
7.0%
净利率更高
AXP
高出29.0%
-6.5%
自由现金流更多
AXP
多$4.4B
$-2.0B
两年增速更快
AXP
近两年复合增速
2.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $10.9B | $13.6B |
| 净利润 | $2.5B | $-887.0M |
| 毛利率 | — | 34.4% |
| 营业利润率 | 28.2% | — |
| 净利率 | 22.5% | -6.5% |
| 营收同比 | 9.9% | 7.0% |
| 净利润同比 | 13.5% | -382.6% |
| 每股收益（稀释后） | $3.52 | $-0.73 |
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AXPINTC
| Q1 26 | — | $13.6B | ||
| Q4 25 | $10.9B | $13.7B | ||
| Q3 25 | $10.4B | $13.7B | ||
| Q2 25 | $10.3B | $12.9B | ||
| Q1 25 | $9.6B | $12.7B | ||
| Q4 24 | $10.0B | $14.3B | ||
| Q3 24 | $9.7B | $13.3B | ||
| Q2 24 | $9.8B | $12.8B |
净利润AXPINTC
| Q1 26 | — | $-887.0M | ||
| Q4 25 | $2.5B | $-591.0M | ||
| Q3 25 | $2.9B | $4.1B | ||
| Q2 25 | $2.9B | $-2.9B | ||
| Q1 25 | $2.6B | $-821.0M | ||
| Q4 24 | $2.2B | $-126.0M | ||
| Q3 24 | $2.5B | $-16.6B | ||
| Q2 24 | $3.0B | $-1.6B |
毛利率AXPINTC
| Q1 26 | — | 34.4% | ||
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 38.2% | ||
| Q2 25 | — | 27.5% | ||
| Q1 25 | — | 36.9% | ||
| Q4 24 | — | 39.2% | ||
| Q3 24 | — | 15.0% | ||
| Q2 24 | — | 35.4% |
营业利润率AXPINTC
| Q1 26 | — | — | ||
| Q4 25 | 28.2% | 4.2% | ||
| Q3 25 | 36.7% | 5.0% | ||
| Q2 25 | 34.4% | -24.7% | ||
| Q1 25 | 34.6% | -2.4% | ||
| Q4 24 | 27.7% | 2.9% | ||
| Q3 24 | 33.0% | -68.2% | ||
| Q2 24 | 38.6% | -15.3% |
净利率AXPINTC
| Q1 26 | — | -6.5% | ||
| Q4 25 | 22.5% | -4.3% | ||
| Q3 25 | 27.9% | 29.8% | ||
| Q2 25 | 28.0% | -22.7% | ||
| Q1 25 | 26.8% | -6.5% | ||
| Q4 24 | 21.8% | -0.9% | ||
| Q3 24 | 25.8% | -125.3% | ||
| Q2 24 | 30.7% | -12.5% |
每股收益（稀释后）AXPINTC
| Q1 26 | — | $-0.73 | ||
| Q4 25 | $3.52 | $-0.10 | ||
| Q3 25 | $4.14 | $0.90 | ||
| Q2 25 | $4.08 | $-0.67 | ||
| Q1 25 | $3.64 | $-0.19 | ||
| Q4 24 | $3.04 | $-0.03 | ||
| Q3 24 | $3.49 | $-3.88 | ||
| Q2 24 | $4.15 | $-0.38 |
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 | $742.0M | $32.8B |
| 总债务越低越好 | $56.4B | $2.0B |
| 股东权益账面价值 | $33.5B | $125.0B |
| 总资产 | $300.1B | $205.3B |
| 负债/权益比越低杠杆越低 | 1.68× | 0.02× |
8季度趋势，按日历期对齐
现金及短期投资AXPINTC
| Q1 26 | — | $32.8B | ||
| Q4 25 | $742.0M | $14.3B | ||
| Q3 25 | $1.3B | $11.1B | ||
| Q2 25 | $197.0M | $9.6B | ||
| Q1 25 | $261.0M | — | ||
| Q4 24 | $221.0M | $8.2B | ||
| Q3 24 | $120.0M | — | ||
| Q2 24 | $188.0M | — |
总债务AXPINTC
| Q1 26 | — | $2.0B | ||
| Q4 25 | $56.4B | $46.6B | ||
| Q3 25 | $57.8B | — | ||
| Q2 25 | $58.2B | — | ||
| Q1 25 | $51.2B | — | ||
| Q4 24 | $49.7B | $50.0B | ||
| Q3 24 | $53.5B | — | ||
| Q2 24 | $51.5B | — |
股东权益AXPINTC
| Q1 26 | — | $125.0B | ||
| Q4 25 | $33.5B | $114.3B | ||
| Q3 25 | $32.4B | $106.4B | ||
| Q2 25 | $32.3B | $97.9B | ||
| Q1 25 | $31.2B | $99.8B | ||
| Q4 24 | $30.3B | $99.3B | ||
| Q3 24 | $29.7B | $99.5B | ||
| Q2 24 | $29.5B | $115.2B |
总资产AXPINTC
| Q1 26 | — | $205.3B | ||
| Q4 25 | $300.1B | $211.4B | ||
| Q3 25 | $297.6B | $204.5B | ||
| Q2 25 | $295.6B | $192.5B | ||
| Q1 25 | $282.2B | $192.2B | ||
| Q4 24 | $271.5B | $196.5B | ||
| Q3 24 | $271.0B | $193.5B | ||
| Q2 24 | $272.2B | $206.2B |
负债/权益比AXPINTC
| Q1 26 | — | 0.02× | ||
| Q4 25 | 1.68× | 0.41× | ||
| Q3 25 | 1.78× | — | ||
| Q2 25 | 1.80× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.64× | 0.50× | ||
| Q3 24 | 1.80× | — | ||
| Q2 24 | 1.74× | — |
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 | $3.1B | — |
| 自由现金流经营现金流 - 资本支出 | $2.3B | $-2.0B |
| 自由现金流率自由现金流/营收 | 21.4% | -14.8% |
| 资本支出强度资本支出/营收 | 6.6% | 36.6% |
| 现金转化率经营现金流/净利润 | 1.25× | — |
| 过去12个月自由现金流最近4个季度 | $16.0B | $-2.6B |
8季度趋势，按日历期对齐
经营现金流AXPINTC
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $4.3B | ||
| Q3 25 | $6.2B | $2.5B | ||
| Q2 25 | $4.4B | $2.0B | ||
| Q1 25 | $4.8B | $813.0M | ||
| Q4 24 | $5.8B | $3.2B | ||
| Q3 24 | $-1.8B | $4.1B | ||
| Q2 24 | $4.5B | $2.3B |
自由现金流AXPINTC
| Q1 26 | — | $-2.0B | ||
| Q4 25 | $2.3B | $800.0M | ||
| Q3 25 | $5.6B | $121.0M | ||
| Q2 25 | $3.7B | $-1.5B | ||
| Q1 25 | $4.3B | $-4.4B | ||
| Q4 24 | $5.3B | $-2.7B | ||
| Q3 24 | $-2.3B | $-2.4B | ||
| Q2 24 | $4.0B | $-3.4B |
自由现金流率AXPINTC
| Q1 26 | — | -14.8% | ||
| Q4 25 | 21.4% | 5.9% | ||
| Q3 25 | 53.6% | 0.9% | ||
| Q2 25 | 36.3% | -11.7% | ||
| Q1 25 | 45.0% | -34.5% | ||
| Q4 24 | 53.1% | -18.7% | ||
| Q3 24 | -23.3% | -18.1% | ||
| Q2 24 | 40.4% | -26.4% |
资本支出强度AXPINTC
| Q1 26 | — | 36.6% | ||
| Q4 25 | 6.6% | 25.5% | ||
| Q3 25 | 6.3% | 17.8% | ||
| Q2 25 | 6.0% | 27.6% | ||
| Q1 25 | 4.5% | 40.9% | ||
| Q4 24 | 5.0% | 40.9% | ||
| Q3 24 | 4.7% | 48.6% | ||
| Q2 24 | 5.8% | 44.3% |
现金转化率AXPINTC
| Q1 26 | — | — | ||
| Q4 25 | 1.25× | — | ||
| Q3 25 | 2.15× | 0.63× | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 1.84× | — | ||
| Q4 24 | 2.66× | — | ||
| Q3 24 | -0.72× | — | ||
| Q2 24 | 1.50× | — |
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
AXP
| US Consumer Services Segment | $4.2B | 38% |
| Commercial Services Segment | $3.1B | 28% |
| International Card Services Segment | $2.1B | 19% |
| Global Merchant And Network Services Segment | $1.7B | 15% |
| Financial Service Other | $471.0M | 4% |
INTC
| Intel Products | $12.8B | 94% |
| All other | $600.0M | 4% |
