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阿里巴巴集团控股有限公司（BABA）与美国银行（BAC）财务数据对比。点击上方公司名可切换其他公司
阿里巴巴集团控股有限公司的季度营收约是美国银行的1.2倍（$38.8B vs $31.2B），美国银行净利率更高（24.1% vs 5.8%，领先18.4%）
阿里巴巴集团控股有限公司是1999年6月28日于浙江杭州创立的中国跨国科技企业，核心业务覆盖电商、零售、互联网及科技领域，运营面向中国及全球市场的C2C、B2C、B2B交易平台，同时提供本地生活服务、数字媒体娱乐、物流、云计算等多元服务，服务全球海量消费者与企业客户。
美国银行是美国知名跨国投资银行及金融服务控股集团，总部位于北卡罗来纳州夏洛特的美国银行企业中心，在曼哈顿设有投行业务及辅助办公总部，1998年由国民银行与原美国银行合并组建，为全球客户提供多元化综合金融服务。
BABA vs BAC — 直观对比
营收规模更大
BABA
是对方的1.2倍
$31.2B
净利率更高
BAC
高出18.4%
5.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $38.8B | $31.2B |
| 净利润 | $2.2B | $7.5B |
| 毛利率 | 40.2% | — |
| 营业利润率 | 6.6% | 39.9% |
| 净利率 | 5.8% | 24.1% |
| 营收同比 | — | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $6.64 | $0.96 |
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BABABAC
| Q4 25 | $38.8B | $31.2B | ||
| Q3 25 | $34.2B | $28.1B | ||
| Q2 25 | $32.6B | $26.5B | ||
| Q1 25 | — | $27.4B | ||
| Q4 24 | $38.7B | — | ||
| Q3 24 | — | $25.3B | ||
| Q2 24 | — | $25.4B | ||
| Q1 24 | — | $25.8B |
净利润BABABAC
| Q4 25 | $2.2B | $7.5B | ||
| Q3 25 | $2.9B | $8.5B | ||
| Q2 25 | $1.7B | $7.1B | ||
| Q1 25 | — | $7.4B | ||
| Q4 24 | $6.8B | — | ||
| Q3 24 | — | $6.9B | ||
| Q2 24 | — | $6.9B | ||
| Q1 24 | — | $6.7B |
毛利率BABABAC
| Q4 25 | 40.2% | — | ||
| Q3 25 | 39.2% | — | ||
| Q2 25 | 38.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 42.0% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率BABABAC
| Q4 25 | 6.6% | 39.9% | ||
| Q3 25 | 2.2% | 33.7% | ||
| Q2 25 | 12.0% | 29.1% | ||
| Q1 25 | — | 29.7% | ||
| Q4 24 | 14.7% | — | ||
| Q3 24 | — | 28.9% | ||
| Q2 24 | — | 29.8% | ||
| Q1 24 | — | 28.1% |
净利率BABABAC
| Q4 25 | 5.8% | 24.1% | ||
| Q3 25 | 8.5% | 30.2% | ||
| Q2 25 | 5.3% | 26.9% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | 17.5% | — | ||
| Q3 24 | — | 27.2% | ||
| Q2 24 | — | 27.2% | ||
| Q1 24 | — | 25.9% |
每股收益（稀释后）BABABAC
| Q4 25 | $6.64 | $0.96 | ||
| Q3 25 | $8.72 | $1.06 | ||
| Q2 25 | $5.20 | $0.89 | ||
| Q1 25 | — | $0.90 | ||
| Q4 24 | $20.40 | — | ||
| Q3 24 | — | $0.81 | ||
| Q2 24 | — | $0.83 | ||
| Q1 24 | — | $0.76 |
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 | $18.3B | — |
| 总债务越低越好 | — | $317.8B |
| 股东权益账面价值 | $148.7B | $303.2B |
| 总资产 | $268.6B | $3411.7B |
| 负债/权益比越低杠杆越低 | — | 1.05× |
8季度趋势，按日历期对齐
现金及短期投资BABABAC
| Q4 25 | $18.3B | — | ||
| Q3 25 | $19.0B | — | ||
| Q2 25 | $20.0B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $22.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
总债务BABABAC
| Q4 25 | — | $317.8B | ||
| Q3 25 | — | $311.5B | ||
| Q2 25 | — | $313.4B | ||
| Q1 25 | — | $304.1B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $296.9B | ||
| Q2 24 | — | $290.5B | ||
| Q1 24 | — | $296.3B |
股东权益BABABAC
| Q4 25 | $148.7B | $303.2B | ||
| Q3 25 | $145.0B | $304.2B | ||
| Q2 25 | $139.2B | $299.6B | ||
| Q1 25 | — | $295.6B | ||
| Q4 24 | $137.2B | — | ||
| Q3 24 | — | $296.5B | ||
| Q2 24 | — | $293.9B | ||
| Q1 24 | — | $293.6B |
总资产BABABAC
| Q4 25 | $268.6B | $3411.7B | ||
| Q3 25 | $264.6B | $3403.7B | ||
| Q2 25 | $248.6B | $3441.1B | ||
| Q1 25 | — | $3349.4B | ||
| Q4 24 | $254.1B | — | ||
| Q3 24 | — | $3324.3B | ||
| Q2 24 | — | $3258.0B | ||
| Q1 24 | — | $3273.8B |
负债/权益比BABABAC
| Q4 25 | — | 1.05× | ||
| Q3 25 | — | 1.02× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 0.99× | ||
| Q1 24 | — | 1.01× |
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 | $5.2B | $-22.9B |
| 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 | — | — |
| 现金转化率经营现金流/净利润 | 2.31× | -3.05× |
| 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BABABAC
| Q4 25 | $5.2B | $-22.9B | ||
| Q3 25 | $1.4B | $46.9B | ||
| Q2 25 | $3.8B | $-9.1B | ||
| Q1 25 | — | $-2.2B | ||
| Q4 24 | $9.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-15.5B |
现金转化率BABABAC
| Q4 25 | 2.31× | -3.05× | ||
| Q3 25 | 0.49× | 5.53× | ||
| Q2 25 | 2.19× | -1.28× | ||
| Q1 25 | — | -0.30× | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -2.33× |
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
BABA
| Alibaba China E-commerce Group | $22.8B | 59% |
| All others | $9.6B | 25% |
| Cloud Intelligence Group | $6.2B | 16% |
BAC
| Other | $7.0B | 22% |
| Global Wealth And Investment Management Segment | $6.6B | 21% |
| Global Banking Segment | $6.2B | 20% |
| Global Markets Segment | $5.3B | 17% |
| Investment And Brokerage Services Asset Management Fees | $4.2B | 13% |
| Investment Banking Income Underwriting Income | $752.0M | 2% |
| Investment Banking Income Financial Advisory Services | $590.0M | 2% |
| Investment Banking Income Syndication Fees | $324.0M | 1% |
| Corporate Securities Trading Loansand Other | $184.0M | 1% |
| Mortgage Trading Loans Mortgage Backed Securities And Asset Backed Securities | $31.0M | 0% |
| Equity Securities | $12.0M | 0% |
| Accrued Expensesand Other Liabilities | $11.0M | 0% |
