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阿里巴巴集团控股有限公司（BABA）与宝洁（PG）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宝洁的1.7倍（$38.8B vs $22.2B），宝洁净利率更高（19.4% vs 5.8%，领先13.7%）
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。
宝洁是总部位于美国俄亥俄州辛辛那提的跨国消费品巨头，业务覆盖美容护理、家居清洁、个人护理、母婴护理等多个品类，旗下拥有大量知名消费品牌，产品行销全球绝大多数国家和地区，广受各地消费者的信赖与喜爱。
BABA vs PG — 直观对比
营收规模更大
BABA
是对方的1.7倍
$22.2B
净利率更高
PG
高出13.7%
5.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $38.8B | $22.2B |
| 净利润 | $2.2B | $4.3B |
| 毛利率 | 40.2% | 51.2% |
| 营业利润率 | 6.6% | 24.2% |
| 净利率 | 5.8% | 19.4% |
| 营收同比 | — | 1.5% |
| 净利润同比 | — | -6.7% |
| 每股收益（稀释后） | $6.64 | $1.78 |
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BABAPG
| Q4 25 | $38.8B | $22.2B | ||
| Q3 25 | $34.2B | $22.4B | ||
| Q2 25 | $32.6B | $20.9B | ||
| Q1 25 | — | $19.8B | ||
| Q4 24 | $38.7B | $21.9B | ||
| Q3 24 | — | $21.7B | ||
| Q2 24 | — | $20.5B | ||
| Q1 24 | — | $20.2B |
净利润BABAPG
| Q4 25 | $2.2B | $4.3B | ||
| Q3 25 | $2.9B | $4.8B | ||
| Q2 25 | $1.7B | $3.6B | ||
| Q1 25 | — | $3.8B | ||
| Q4 24 | $6.8B | $4.6B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $3.1B | ||
| Q1 24 | — | $3.8B |
毛利率BABAPG
| Q4 25 | 40.2% | 51.2% | ||
| Q3 25 | 39.2% | 51.4% | ||
| Q2 25 | 38.4% | 49.1% | ||
| Q1 25 | — | 51.0% | ||
| Q4 24 | 42.0% | 52.4% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | — | 49.6% | ||
| Q1 24 | — | 51.2% |
营业利润率BABAPG
| Q4 25 | 6.6% | 24.2% | ||
| Q3 25 | 2.2% | 26.2% | ||
| Q2 25 | 12.0% | 20.8% | ||
| Q1 25 | — | 23.0% | ||
| Q4 24 | 14.7% | 26.2% | ||
| Q3 24 | — | 26.7% | ||
| Q2 24 | — | 18.9% | ||
| Q1 24 | — | 22.1% |
净利率BABAPG
| Q4 25 | 5.8% | 19.4% | ||
| Q3 25 | 8.5% | 21.2% | ||
| Q2 25 | 5.3% | 17.3% | ||
| Q1 25 | — | 19.1% | ||
| Q4 24 | 17.5% | 21.2% | ||
| Q3 24 | — | 18.2% | ||
| Q2 24 | — | 15.3% | ||
| Q1 24 | — | 18.6% |
每股收益（稀释后）BABAPG
| Q4 25 | $6.64 | $1.78 | ||
| Q3 25 | $8.72 | $1.95 | ||
| Q2 25 | $5.20 | $1.48 | ||
| Q1 25 | — | $1.54 | ||
| Q4 24 | $20.40 | $1.88 | ||
| Q3 24 | — | $1.61 | ||
| Q2 24 | — | $1.27 | ||
| Q1 24 | — | $1.52 |
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 | — | — |
| 股东权益账面价值 | $148.7B | $53.3B |
| 总资产 | $268.6B | $127.3B |
| 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BABAPG
| Q4 25 | $18.3B | — | ||
| Q3 25 | $19.0B | — | ||
| Q2 25 | $20.0B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $22.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益BABAPG
| Q4 25 | $148.7B | $53.3B | ||
| Q3 25 | $145.0B | $53.6B | ||
| Q2 25 | $139.2B | $52.3B | ||
| Q1 25 | — | $52.5B | ||
| Q4 24 | $137.2B | $51.4B | ||
| Q3 24 | — | $52.1B | ||
| Q2 24 | — | $50.6B | ||
| Q1 24 | — | $50.3B |
总资产BABAPG
| Q4 25 | $268.6B | $127.3B | ||
| Q3 25 | $264.6B | $127.6B | ||
| Q2 25 | $248.6B | $125.2B | ||
| Q1 25 | — | $123.0B | ||
| Q4 24 | $254.1B | $122.6B | ||
| Q3 24 | — | $126.5B | ||
| Q2 24 | — | $122.4B | ||
| Q1 24 | — | $119.6B |
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 | $5.0B |
| 自由现金流经营现金流 - 资本支出 | — | $3.8B |
| 自由现金流率自由现金流/营收 | — | 17.1% |
| 资本支出强度资本支出/营收 | — | 5.3% |
| 现金转化率经营现金流/净利润 | 2.31× | 1.15× |
| 过去12个月自由现金流最近4个季度 | — | $14.8B |
8季度趋势，按日历期对齐
经营现金流BABAPG
| Q4 25 | $5.2B | $5.0B | ||
| Q3 25 | $1.4B | $5.4B | ||
| Q2 25 | $3.8B | $5.0B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | $9.7B | $4.8B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $5.8B | ||
| Q1 24 | — | $4.1B |
自由现金流BABAPG
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $4.2B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $3.9B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | — | $5.0B | ||
| Q1 24 | — | $3.3B |
自由现金流率BABAPG
| Q4 25 | — | 17.1% | ||
| Q3 25 | — | 18.8% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 14.4% | ||
| Q4 24 | — | 17.8% | ||
| Q3 24 | — | 15.2% | ||
| Q2 24 | — | 24.2% | ||
| Q1 24 | — | 16.3% |
资本支出强度BABAPG
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 5.4% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 4.2% | ||
| Q3 24 | — | 4.6% | ||
| Q2 24 | — | 3.8% | ||
| Q1 24 | — | 3.9% |
现金转化率BABAPG
| Q4 25 | 2.31× | 1.15× | ||
| Q3 25 | 0.49× | 1.14× | ||
| Q2 25 | 2.19× | 1.38× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | 1.43× | 1.04× | ||
| Q3 24 | — | 1.09× | ||
| Q2 24 | — | 1.83× | ||
| Q1 24 | — | 1.09× |
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% |
PG
| Fabric Home Care Segment | $7.7B | 35% |
| Baby Feminine Family Care Segment | $5.1B | 23% |
| Beauty Segment | $4.0B | 18% |
| Health Care Segment | $3.4B | 15% |
| Grooming Segment | $1.8B | 8% |
