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美国运通（AXP）与美光科技（MU）财务数据对比。点击上方公司名可切换其他公司
美光科技的季度营收约是美国运通的1.3倍（$23.9B vs $18.9B），美光科技净利率更高（57.8% vs 15.7%，领先42.1%），美光科技同比增速更快（196.3% vs 11.4%），过去两年美光科技的营收复合增速更高（75.5% vs 38.8%）
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。
美光科技是总部位于美国爱达荷州博伊西的半导体厂商，专注于计算机内存及数据存储产品的研发生产，核心产品涵盖动态随机存取存储器（DRAM）、闪存、固态硬盘（SSD）等，是全球知名的存储解决方案供应商，产品广泛应用于消费电子、数据中心等诸多领域。
AXP vs MU — 直观对比
营收规模更大
MU
是对方的1.3倍
$18.9B
营收增速更快
MU
高出184.9%
11.4%
净利率更高
MU
高出42.1%
15.7%
两年增速更快
MU
近两年复合增速
38.8%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $18.9B | $23.9B |
| 净利润 | $3.0B | $13.8B |
| 毛利率 | — | 74.4% |
| 营业利润率 | — | 67.6% |
| 净利率 | 15.7% | 57.8% |
| 营收同比 | 11.4% | 196.3% |
| 净利润同比 | 15.0% | 770.8% |
| 每股收益（稀释后） | $4.28 | $12.07 |
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AXPMU
| Q2 26 | — | $23.9B | ||
| Q1 26 | $18.9B | $23.9B | ||
| Q4 25 | $10.9B | $13.6B | ||
| Q3 25 | $10.4B | $11.3B | ||
| Q2 25 | $10.3B | $9.3B | ||
| Q1 25 | $9.6B | $8.1B | ||
| Q4 24 | $10.0B | $8.7B | ||
| Q3 24 | $9.7B | $7.8B |
净利润AXPMU
| Q2 26 | — | $13.8B | ||
| Q1 26 | $3.0B | $13.8B | ||
| Q4 25 | $2.5B | $5.2B | ||
| Q3 25 | $2.9B | $3.2B | ||
| Q2 25 | $2.9B | $1.9B | ||
| Q1 25 | $2.6B | $1.6B | ||
| Q4 24 | $2.2B | $1.9B | ||
| Q3 24 | $2.5B | — |
毛利率AXPMU
| Q2 26 | — | 74.4% | ||
| Q1 26 | — | 74.4% | ||
| Q4 25 | — | 56.0% | ||
| Q3 25 | — | 44.7% | ||
| Q2 25 | — | 37.7% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 38.4% | ||
| Q3 24 | — | 35.3% |
营业利润率AXPMU
| Q2 26 | — | 67.6% | ||
| Q1 26 | — | 67.6% | ||
| Q4 25 | 28.2% | 45.0% | ||
| Q3 25 | 36.7% | 32.3% | ||
| Q2 25 | 34.4% | 23.3% | ||
| Q1 25 | 34.6% | 22.0% | ||
| Q4 24 | 27.7% | 25.0% | ||
| Q3 24 | 33.0% | — |
净利率AXPMU
| Q2 26 | — | 57.8% | ||
| Q1 26 | 15.7% | 57.8% | ||
| Q4 25 | 22.5% | 38.4% | ||
| Q3 25 | 27.9% | 28.3% | ||
| Q2 25 | 28.0% | 20.3% | ||
| Q1 25 | 26.8% | 19.7% | ||
| Q4 24 | 21.8% | 21.5% | ||
| Q3 24 | 25.8% | — |
每股收益（稀释后）AXPMU
| Q2 26 | — | $12.07 | ||
| Q1 26 | $4.28 | $12.07 | ||
| Q4 25 | $3.52 | $4.60 | ||
| Q3 25 | $4.14 | $2.83 | ||
| Q2 25 | $4.08 | $1.68 | ||
| Q1 25 | $3.64 | $1.41 | ||
| Q4 24 | $3.04 | $1.67 | ||
| Q3 24 | $3.49 | — |
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 | — | $14.6B |
| 总债务越低越好 | $60.4M | $9.6B |
| 股东权益账面价值 | $34.0M | $72.5B |
| 总资产 | $308.9M | $101.5B |
| 负债/权益比越低杠杆越低 | 1.78× | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资AXPMU
| Q2 26 | — | $14.6B | ||
| Q1 26 | — | $13.9B | ||
| Q4 25 | $742.0M | $9.7B | ||
| Q3 25 | $1.3B | $9.6B | ||
| Q2 25 | $197.0M | $10.2B | ||
| Q1 25 | $261.0M | $7.6B | ||
| Q4 24 | $221.0M | $6.7B | ||
| Q3 24 | $120.0M | $7.0B |
总债务AXPMU
| Q2 26 | — | $9.6B | ||
| Q1 26 | $60.4M | $9.6B | ||
| Q4 25 | $56.4B | $11.2B | ||
| Q3 25 | $57.8B | $14.0B | ||
| Q2 25 | $58.2B | $15.0B | ||
| Q1 25 | $51.2B | $13.9B | ||
| Q4 24 | $49.7B | $13.3B | ||
| Q3 24 | $53.5B | $13.0B |
股东权益AXPMU
| Q2 26 | — | $72.5B | ||
| Q1 26 | $34.0M | $72.5B | ||
| Q4 25 | $33.5B | $58.8B | ||
| Q3 25 | $32.4B | $54.2B | ||
| Q2 25 | $32.3B | $50.7B | ||
| Q1 25 | $31.2B | $48.6B | ||
| Q4 24 | $30.3B | $46.8B | ||
| Q3 24 | $29.7B | $45.1B |
总资产AXPMU
| Q2 26 | — | $101.5B | ||
| Q1 26 | $308.9M | $101.5B | ||
| Q4 25 | $300.1B | $86.0B | ||
| Q3 25 | $297.6B | $82.8B | ||
| Q2 25 | $295.6B | $78.4B | ||
| Q1 25 | $282.2B | $73.1B | ||
| Q4 24 | $271.5B | $71.5B | ||
| Q3 24 | $271.0B | $69.4B |
负债/权益比AXPMU
| Q2 26 | — | 0.13× | ||
| Q1 26 | 1.78× | 0.13× | ||
| Q4 25 | 1.68× | 0.19× | ||
| Q3 25 | 1.78× | 0.26× | ||
| Q2 25 | 1.80× | 0.30× | ||
| Q1 25 | 1.64× | 0.28× | ||
| Q4 24 | 1.64× | 0.28× | ||
| Q3 24 | 1.80× | 0.29× |
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 | — | $20.3B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | 21.0% |
| 现金转化率经营现金流/净利润 | — | 1.47× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流AXPMU
| Q2 26 | — | $20.3B | ||
| Q1 26 | — | $11.9B | ||
| Q4 25 | $3.1B | $8.4B | ||
| Q3 25 | $6.2B | $17.5B | ||
| Q2 25 | $4.4B | $4.6B | ||
| Q1 25 | $4.8B | $3.9B | ||
| Q4 24 | $5.8B | $3.2B | ||
| Q3 24 | $-1.8B | $8.5B |
自由现金流AXPMU
| Q2 26 | — | — | ||
| Q1 26 | — | $5.5B | ||
| Q4 25 | $2.3B | $3.0B | ||
| Q3 25 | $5.6B | $1.7B | ||
| Q2 25 | $3.7B | $1.7B | ||
| Q1 25 | $4.3B | $-113.0M | ||
| Q4 24 | $5.3B | $38.0M | ||
| Q3 24 | $-2.3B | $121.0M |
自由现金流率AXPMU
| Q2 26 | — | — | ||
| Q1 26 | — | 23.1% | ||
| Q4 25 | 21.4% | 22.2% | ||
| Q3 25 | 53.6% | 14.7% | ||
| Q2 25 | 36.3% | 18.0% | ||
| Q1 25 | 45.0% | -1.4% | ||
| Q4 24 | 53.1% | 0.4% | ||
| Q3 24 | -23.3% | 1.6% |
资本支出强度AXPMU
| Q2 26 | — | 21.0% | ||
| Q1 26 | — | 26.8% | ||
| Q4 25 | 6.6% | 39.5% | ||
| Q3 25 | 6.3% | 140.1% | ||
| Q2 25 | 6.0% | 31.6% | ||
| Q1 25 | 4.5% | 50.4% | ||
| Q4 24 | 5.0% | 36.8% | ||
| Q3 24 | 4.7% | 108.2% |
现金转化率AXPMU
| Q2 26 | — | 1.47× | ||
| Q1 26 | — | 0.86× | ||
| Q4 25 | 1.25× | 1.61× | ||
| Q3 25 | 2.15× | 5.47× | ||
| Q2 25 | 1.51× | 2.45× | ||
| Q1 25 | 1.84× | 2.49× | ||
| Q4 24 | 2.66× | 1.73× | ||
| Q3 24 | -0.72× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
