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百通（BDC）与Qorvo, Inc.（QRVO）财务数据对比。点击上方公司名可切换其他公司
Qorvo, Inc.的季度营收约是百通的1.4倍（$993.0M vs $720.1M），Qorvo, Inc.净利率更高（16.5% vs 9.4%，领先7.1%），Qorvo, Inc.同比增速更快（8.4% vs 8.1%），Qorvo, Inc.自由现金流更多（$236.9M vs $121.3M），过去两年百通的营收复合增速更高（15.9% vs 2.7%）
百通公司是美国上市跨国企业，专注于端到端网络、安全及连接产品的设计、生产与销售，业务覆盖工业自动化解决方案、智能建筑、宽带及5G三大核心领域，为各行业客户提供可靠的通信连接相关产品与服务。
Qorvo是一家美国跨国企业，专注于无线、有线及电源市场相关产品的研发与供应。该公司由TriQuint半导体与RF Micro Devices合并而来，合并计划于2014年公布，2015年1月1日正式完成，在纳斯达克挂牌上市，股票代码QRVO，原实行双总部制，2016年中起将北卡罗来纳州基地作为总部所在地。
BDC vs QRVO — 直观对比
营收规模更大
QRVO
是对方的1.4倍
$720.1M
营收增速更快
QRVO
高出0.2%
8.1%
净利率更高
QRVO
高出7.1%
9.4%
自由现金流更多
QRVO
多$115.7M
$121.3M
两年增速更快
BDC
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $720.1M | $993.0M |
| 净利润 | $67.9M | $164.1M |
| 毛利率 | 36.6% | 46.7% |
| 营业利润率 | 12.2% | 19.4% |
| 净利率 | 9.4% | 16.5% |
| 营收同比 | 8.1% | 8.4% |
| 净利润同比 | 16.3% | 297.5% |
| 每股收益（稀释后） | $1.70 | $1.75 |
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BDCQRVO
| Q4 25 | $720.1M | $993.0M | ||
| Q3 25 | $698.2M | $1.1B | ||
| Q2 25 | $672.0M | $818.8M | ||
| Q1 25 | $624.9M | $869.5M | ||
| Q4 24 | $666.0M | $916.3M | ||
| Q3 24 | $654.9M | $1.0B | ||
| Q2 24 | $604.3M | $886.7M | ||
| Q1 24 | $535.7M | $941.0M |
净利润BDCQRVO
| Q4 25 | $67.9M | $164.1M | ||
| Q3 25 | $56.7M | $119.6M | ||
| Q2 25 | $61.0M | $25.6M | ||
| Q1 25 | $51.9M | $31.4M | ||
| Q4 24 | $58.4M | $41.3M | ||
| Q3 24 | $53.7M | $-17.4M | ||
| Q2 24 | $49.0M | $414.0K | ||
| Q1 24 | $37.3M | $2.7M |
毛利率BDCQRVO
| Q4 25 | 36.6% | 46.7% | ||
| Q3 25 | 37.7% | 47.0% | ||
| Q2 25 | 38.5% | 40.5% | ||
| Q1 25 | 39.3% | 42.2% | ||
| Q4 24 | 37.5% | 42.7% | ||
| Q3 24 | 37.3% | 42.6% | ||
| Q2 24 | 37.5% | 37.5% | ||
| Q1 24 | 37.6% | 40.6% |
营业利润率BDCQRVO
| Q4 25 | 12.2% | 19.4% | ||
| Q3 25 | 10.9% | 14.9% | ||
| Q2 25 | 11.8% | 3.7% | ||
| Q1 25 | 11.6% | 3.2% | ||
| Q4 24 | 10.4% | 5.8% | ||
| Q3 24 | 11.5% | 0.9% | ||
| Q2 24 | 11.4% | 0.5% | ||
| Q1 24 | 9.9% | 3.2% |
净利率BDCQRVO
| Q4 25 | 9.4% | 16.5% | ||
| Q3 25 | 8.1% | 11.3% | ||
| Q2 25 | 9.1% | 3.1% | ||
| Q1 25 | 8.3% | 3.6% | ||
| Q4 24 | 8.8% | 4.5% | ||
| Q3 24 | 8.2% | -1.7% | ||
| Q2 24 | 8.1% | 0.0% | ||
| Q1 24 | 7.0% | 0.3% |
每股收益（稀释后）BDCQRVO
| Q4 25 | $1.70 | $1.75 | ||
| Q3 25 | $1.41 | $1.28 | ||
| Q2 25 | $1.53 | $0.27 | ||
| Q1 25 | $1.27 | $0.33 | ||
| Q4 24 | $1.41 | $0.43 | ||
| Q3 24 | $1.30 | $-0.18 | ||
| Q2 24 | $1.19 | $0.00 | ||
| Q1 24 | $0.90 | $0.04 |
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 | $389.9M | $1.3B |
| 总债务越低越好 | — | $1.5B |
| 股东权益账面价值 | $1.3B | $3.7B |
| 总资产 | $3.5B | $6.2B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资BDCQRVO
| Q4 25 | $389.9M | $1.3B | ||
| Q3 25 | $314.3M | $1.1B | ||
| Q2 25 | $301.5M | $1.2B | ||
| Q1 25 | $259.0M | $1.0B | ||
| Q4 24 | $370.3M | $769.4M | ||
| Q3 24 | $323.0M | $1.1B | ||
| Q2 24 | $564.8M | $1.1B | ||
| Q1 24 | $506.8M | $1.0B |
总债务BDCQRVO
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.5B |
股东权益BDCQRVO
| Q4 25 | $1.3B | $3.7B | ||
| Q3 25 | $1.2B | $3.5B | ||
| Q2 25 | $1.2B | $3.4B | ||
| Q1 25 | $1.2B | $3.4B | ||
| Q4 24 | $1.3B | $3.4B | ||
| Q3 24 | $1.2B | $3.4B | ||
| Q2 24 | $1.2B | $3.5B | ||
| Q1 24 | $1.2B | $3.6B |
总资产BDCQRVO
| Q4 25 | $3.5B | $6.2B | ||
| Q3 25 | $3.4B | $6.1B | ||
| Q2 25 | $3.4B | $6.0B | ||
| Q1 25 | $3.3B | $5.9B | ||
| Q4 24 | $3.3B | $6.0B | ||
| Q3 24 | $3.3B | $6.5B | ||
| Q2 24 | $3.5B | $6.4B | ||
| Q1 24 | $3.1B | $6.6B |
负债/权益比BDCQRVO
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.45× | ||
| Q1 25 | — | 0.46× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.45× | ||
| Q2 24 | — | 0.44× | ||
| Q1 24 | — | 0.44× |
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 | $160.4M | $265.4M |
| 自由现金流经营现金流 - 资本支出 | $121.3M | $236.9M |
| 自由现金流率自由现金流/营收 | 16.8% | 23.9% |
| 资本支出强度资本支出/营收 | 5.4% | 2.9% |
| 现金转化率经营现金流/净利润 | 2.36× | 1.62× |
| 过去12个月自由现金流最近4个季度 | $218.7M | $595.2M |
8季度趋势，按日历期对齐
经营现金流BDCQRVO
| Q4 25 | $160.4M | $265.4M | ||
| Q3 25 | $105.0M | $84.0M | ||
| Q2 25 | $82.0M | $182.9M | ||
| Q1 25 | $7.4M | $199.2M | ||
| Q4 24 | $174.7M | $214.1M | ||
| Q3 24 | $91.7M | $127.8M | ||
| Q2 24 | $83.0M | $81.1M | ||
| Q1 24 | $2.7M | — |
自由现金流BDCQRVO
| Q4 25 | $121.3M | $236.9M | ||
| Q3 25 | $65.3M | $42.2M | ||
| Q2 25 | $56.9M | $145.4M | ||
| Q1 25 | $-24.8M | $170.7M | ||
| Q4 24 | $116.4M | $176.2M | ||
| Q3 24 | $67.2M | $94.8M | ||
| Q2 24 | $61.0M | $42.9M | ||
| Q1 24 | $-21.5M | — |
自由现金流率BDCQRVO
| Q4 25 | 16.8% | 23.9% | ||
| Q3 25 | 9.4% | 4.0% | ||
| Q2 25 | 8.5% | 17.8% | ||
| Q1 25 | -4.0% | 19.6% | ||
| Q4 24 | 17.5% | 19.2% | ||
| Q3 24 | 10.3% | 9.1% | ||
| Q2 24 | 10.1% | 4.8% | ||
| Q1 24 | -4.0% | — |
资本支出强度BDCQRVO
| Q4 25 | 5.4% | 2.9% | ||
| Q3 25 | 5.7% | 3.9% | ||
| Q2 25 | 3.7% | 4.6% | ||
| Q1 25 | 5.2% | 3.3% | ||
| Q4 24 | 8.8% | 4.1% | ||
| Q3 24 | 3.7% | 3.2% | ||
| Q2 24 | 3.6% | 4.3% | ||
| Q1 24 | 4.5% | — |
现金转化率BDCQRVO
| Q4 25 | 2.36× | 1.62× | ||
| Q3 25 | 1.85× | 0.70× | ||
| Q2 25 | 1.34× | 7.15× | ||
| Q1 25 | 0.14× | 6.35× | ||
| Q4 24 | 2.99× | 5.19× | ||
| Q3 24 | 1.71× | — | ||
| Q2 24 | 1.69× | 195.86× | ||
| Q1 24 | 0.07× | — |
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
BDC
| Automation Solutions Segment | $397.7M | 55% |
| Broadband Solutions | $164.8M | 23% |
| Smart Buildings Solutions | $157.7M | 22% |
QRVO
| ACG | $690.8M | 70% |
| HPA | $190.9M | 19% |
| CSG | $111.3M | 11% |
