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波音（BA）与康卡斯特（CMCSA）财务数据对比。点击上方公司名可切换其他公司
康卡斯特的季度营收约是波音的1.4倍（$31.5B vs $22.2B），康卡斯特净利率更高（6.9% vs -0.0%，领先6.9%），波音同比增速更快（14.0% vs 5.3%），康卡斯特自由现金流更多（$3.9B vs $-1.5B），过去两年波音的营收复合增速更高（14.8% vs 2.9%）
波音公司是美国跨国航空航天企业，1916年成立，业务覆盖民用飞机、旋翼机、火箭、卫星、导弹的设计、制造与全球销售，同时提供租赁及产品配套支持服务。作为全球头部航空航天制造商，按2022年营收计为全球第四大国防承包商，也是美国按金额计算的最大出口企业。
康卡斯特是美国跨国大众传媒、电信及娱乐综合集团，总部位于费城康卡斯特中心，旗下NBC环球、纽约业务及其他核心资产总部设于纽约曼哈顿中城洛克菲勒广场30号，2023年位列福布斯全球企业2000强第51位，是全球传媒娱乐领域的头部企业。
BA vs CMCSA — 直观对比
营收规模更大
CMCSA
是对方的1.4倍
$22.2B
营收增速更快
BA
高出8.7%
5.3%
净利率更高
CMCSA
高出6.9%
-0.0%
自由现金流更多
CMCSA
多$5.4B
$-1.5B
两年增速更快
BA
近两年复合增速
2.9%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $22.2B | $31.5B |
| 净利润 | $-7.0M | $2.2B |
| 毛利率 | — | — |
| 营业利润率 | 2.0% | 13.1% |
| 净利率 | -0.0% | 6.9% |
| 营收同比 | 14.0% | 5.3% |
| 净利润同比 | 77.4% | -35.6% |
| 每股收益（稀释后） | $-0.11 | $0.60 |
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BACMCSA
| Q1 26 | $22.2B | $31.5B | ||
| Q4 25 | $23.9B | $32.3B | ||
| Q3 25 | $23.3B | $31.2B | ||
| Q2 25 | $22.7B | $30.3B | ||
| Q1 25 | $19.5B | $29.9B | ||
| Q4 24 | $15.2B | $31.9B | ||
| Q3 24 | $17.8B | $32.1B | ||
| Q2 24 | $16.9B | $29.7B |
净利润BACMCSA
| Q1 26 | $-7.0M | $2.2B | ||
| Q4 25 | $8.2B | $2.2B | ||
| Q3 25 | $-5.3B | $3.3B | ||
| Q2 25 | $-611.0M | $11.1B | ||
| Q1 25 | $-37.0M | $3.4B | ||
| Q4 24 | $-3.9B | $4.8B | ||
| Q3 24 | $-6.2B | $3.6B | ||
| Q2 24 | $-1.4B | $3.9B |
毛利率BACMCSA
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | — | ||
| Q3 25 | -10.2% | — | ||
| Q2 25 | 10.7% | — | ||
| Q1 25 | 12.4% | — | ||
| Q4 24 | -10.4% | — | ||
| Q3 24 | -19.7% | — | ||
| Q2 24 | 7.3% | — |
营业利润率BACMCSA
| Q1 26 | 2.0% | 13.1% | ||
| Q4 25 | 36.7% | 10.8% | ||
| Q3 25 | -20.5% | 17.7% | ||
| Q2 25 | -0.8% | 19.8% | ||
| Q1 25 | 2.4% | 18.9% | ||
| Q4 24 | -24.7% | 15.6% | ||
| Q3 24 | -32.3% | 18.3% | ||
| Q2 24 | -6.5% | 22.3% |
净利率BACMCSA
| Q1 26 | -0.0% | 6.9% | ||
| Q4 25 | 34.3% | 6.7% | ||
| Q3 25 | -22.9% | 10.7% | ||
| Q2 25 | -2.7% | 36.7% | ||
| Q1 25 | -0.2% | 11.3% | ||
| Q4 24 | -25.4% | 15.0% | ||
| Q3 24 | -34.6% | 11.3% | ||
| Q2 24 | -8.5% | 13.2% |
每股收益（稀释后）BACMCSA
| Q1 26 | $-0.11 | $0.60 | ||
| Q4 25 | $10.70 | $0.62 | ||
| Q3 25 | $-7.14 | $0.90 | ||
| Q2 25 | $-0.92 | $2.98 | ||
| Q1 25 | $-0.16 | $0.89 | ||
| Q4 24 | $-5.50 | $1.23 | ||
| Q3 24 | $-9.97 | $0.94 | ||
| Q2 24 | $-2.33 | $1.00 |
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 | $9.4B | $9.5B |
| 总债务越低越好 | $44.4B | $5.4B |
| 股东权益账面价值 | $6.0B | $88.3B |
| 总资产 | $164.8B | $260.0B |
| 负债/权益比越低杠杆越低 | 7.41× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资BACMCSA
| Q1 26 | $9.4B | $9.5B | ||
| Q4 25 | $29.4B | $9.5B | ||
| Q3 25 | $23.0B | $9.3B | ||
| Q2 25 | $23.0B | $9.7B | ||
| Q1 25 | $23.7B | $8.6B | ||
| Q4 24 | $26.3B | $7.3B | ||
| Q3 24 | $10.5B | $8.9B | ||
| Q2 24 | $12.6B | $6.2B |
总债务BACMCSA
| Q1 26 | $44.4B | $5.4B | ||
| Q4 25 | $45.6B | $93.0B | ||
| Q3 25 | $44.6B | $93.2B | ||
| Q2 25 | $44.6B | $95.8B | ||
| Q1 25 | $45.7B | $92.3B | ||
| Q4 24 | $52.6B | $94.2B | ||
| Q3 24 | $53.2B | $98.8B | ||
| Q2 24 | $53.2B | $97.1B |
股东权益BACMCSA
| Q1 26 | $6.0B | $88.3B | ||
| Q4 25 | $5.5B | $96.9B | ||
| Q3 25 | $-8.3B | $97.1B | ||
| Q2 25 | $-3.3B | $96.9B | ||
| Q1 25 | $-3.3B | $86.6B | ||
| Q4 24 | $-3.9B | $85.6B | ||
| Q3 24 | $-23.6B | $85.8B | ||
| Q2 24 | $-18.0B | $83.2B |
总资产BACMCSA
| Q1 26 | $164.8B | $260.0B | ||
| Q4 25 | $168.2B | $272.6B | ||
| Q3 25 | $150.0B | $273.0B | ||
| Q2 25 | $155.1B | $273.9B | ||
| Q1 25 | $156.5B | $267.8B | ||
| Q4 24 | $156.4B | $266.2B | ||
| Q3 24 | $137.7B | $269.9B | ||
| Q2 24 | $142.7B | $262.6B |
负债/权益比BACMCSA
| Q1 26 | 7.41× | 0.06× | ||
| Q4 25 | 8.37× | 0.96× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.99× | ||
| Q1 25 | — | 1.07× | ||
| Q4 24 | — | 1.10× | ||
| Q3 24 | — | 1.15× | ||
| Q2 24 | — | 1.17× |
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 | — | $6.9B |
| 自由现金流经营现金流 - 资本支出 | $-1.5B | $3.9B |
| 自由现金流率自由现金流/营收 | -6.5% | 12.4% |
| 资本支出强度资本支出/营收 | — | 7.5% |
| 现金转化率经营现金流/净利润 | — | 3.17× |
| 过去12个月自由现金流最近4个季度 | $-1.0B | $19.8B |
8季度趋势，按日历期对齐
经营现金流BACMCSA
| Q1 26 | — | $6.9B | ||
| Q4 25 | $1.3B | $8.8B | ||
| Q3 25 | $1.1B | $8.7B | ||
| Q2 25 | $227.0M | $7.8B | ||
| Q1 25 | $-1.6B | $8.3B | ||
| Q4 24 | $-3.5B | $8.1B | ||
| Q3 24 | $-1.3B | $7.0B | ||
| Q2 24 | $-3.9B | $4.7B |
自由现金流BACMCSA
| Q1 26 | $-1.5B | $3.9B | ||
| Q4 25 | $375.0M | $5.1B | ||
| Q3 25 | $238.0M | $5.6B | ||
| Q2 25 | $-200.0M | $5.1B | ||
| Q1 25 | $-2.3B | $6.0B | ||
| Q4 24 | $-4.1B | $4.2B | ||
| Q3 24 | $-2.0B | $4.1B | ||
| Q2 24 | $-4.3B | $2.0B |
自由现金流率BACMCSA
| Q1 26 | -6.5% | 12.4% | ||
| Q4 25 | 1.6% | 15.8% | ||
| Q3 25 | 1.0% | 18.0% | ||
| Q2 25 | -0.9% | 16.9% | ||
| Q1 25 | -11.7% | 20.2% | ||
| Q4 24 | -26.9% | 13.1% | ||
| Q3 24 | -11.0% | 12.8% | ||
| Q2 24 | -25.7% | 6.7% |
资本支出强度BACMCSA
| Q1 26 | — | 7.5% | ||
| Q4 25 | 4.0% | 11.6% | ||
| Q3 25 | 3.8% | 9.8% | ||
| Q2 25 | 1.9% | 8.8% | ||
| Q1 25 | 3.5% | 7.5% | ||
| Q4 24 | 4.3% | 12.3% | ||
| Q3 24 | 3.4% | 9.1% | ||
| Q2 24 | 2.4% | 9.2% |
现金转化率BACMCSA
| Q1 26 | — | 3.17× | ||
| Q4 25 | 0.16× | 4.08× | ||
| Q3 25 | — | 2.61× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | 2.46× | ||
| Q4 24 | — | 1.69× | ||
| Q3 24 | — | 1.93× | ||
| Q2 24 | — | 1.20× |
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
BA
| Commercial Airplanes | $9.2B | 41% |
| Defense, Space & Security | $7.6B | 34% |
| Global Services | $5.4B | 24% |
CMCSA
| Connectivity & Platforms | $20.0B | 63% |
| Content & Experiences | $11.9B | 38% |
