vs
凯雷集团（CG）与微芯科技（MCHP）财务数据对比。点击上方公司名可切换其他公司
凯雷集团的季度营收约是微芯科技的1.6倍（$1.9B vs $1.2B），凯雷集团净利率更高（18.8% vs 5.3%，领先13.5%），凯雷集团同比增速更快（84.1% vs 15.6%），微芯科技自由现金流更多（$318.9M vs $-1.2B），过去两年凯雷集团的营收复合增速更高（66.2% vs -5.4%）
凯雷集团是美国知名跨国企业，核心业务涵盖私募股权投资、另类资产管理及金融服务领域。截至2023年，公司管理资产总规模达4260亿美元，是全球另类资管行业的重要参与者。
微芯科技（Microchip Technology）是美国知名上市半导体企业，主营微控制器、混合信号芯片、模拟芯片及闪存知识产权（Flash-IP）相关集成电路的研发、生产与销售，产品覆盖工业控制、汽车电子、消费电子、物联网等众多领域，在全球半导体细分市场拥有领先地位。
CG vs MCHP — 直观对比
营收规模更大
CG
是对方的1.6倍
$1.2B
营收增速更快
CG
高出68.5%
15.6%
净利率更高
CG
高出13.5%
5.3%
自由现金流更多
MCHP
多$1.6B
$-1.2B
两年增速更快
CG
近两年复合增速
-5.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.2B |
| 净利润 | $358.1M | $62.7M |
| 毛利率 | — | 59.6% |
| 营业利润率 | 24.3% | 12.8% |
| 净利率 | 18.8% | 5.3% |
| 营收同比 | 84.1% | 15.6% |
| 净利润同比 | 69.8% | 217.0% |
| 每股收益（稀释后） | $0.96 | $0.06 |
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CGMCHP
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $332.7M | $1.1B | ||
| Q2 25 | $1.6B | $1.1B | ||
| Q1 25 | $973.1M | $970.5M | ||
| Q4 24 | $1.0B | $1.0B | ||
| Q3 24 | $2.6B | $1.2B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $688.4M | $1.3B |
净利润CGMCHP
| Q4 25 | $358.1M | $62.7M | ||
| Q3 25 | $900.0K | $41.7M | ||
| Q2 25 | $319.7M | $-18.6M | ||
| Q1 25 | $130.0M | $-154.6M | ||
| Q4 24 | $210.9M | $-53.6M | ||
| Q3 24 | $595.7M | $78.4M | ||
| Q2 24 | $148.2M | $129.3M | ||
| Q1 24 | $65.6M | $154.7M |
毛利率CGMCHP
| Q4 25 | — | 59.6% | ||
| Q3 25 | — | 55.9% | ||
| Q2 25 | — | 53.6% | ||
| Q1 25 | — | 51.6% | ||
| Q4 24 | — | 54.7% | ||
| Q3 24 | — | 57.4% | ||
| Q2 24 | — | 59.4% | ||
| Q1 24 | — | 59.6% |
营业利润率CGMCHP
| Q4 25 | 24.3% | 12.8% | ||
| Q3 25 | 25.8% | 7.8% | ||
| Q2 25 | 28.0% | 3.0% | ||
| Q1 25 | 17.6% | -10.3% | ||
| Q4 24 | 25.7% | 3.0% | ||
| Q3 24 | 29.9% | 12.6% | ||
| Q2 24 | 20.5% | 17.7% | ||
| Q1 24 | 17.5% | 19.1% |
净利率CGMCHP
| Q4 25 | 18.8% | 5.3% | ||
| Q3 25 | 0.3% | 3.7% | ||
| Q2 25 | 20.3% | -1.7% | ||
| Q1 25 | 13.4% | -15.9% | ||
| Q4 24 | 20.4% | -5.2% | ||
| Q3 24 | 22.6% | 6.7% | ||
| Q2 24 | 13.9% | 10.4% | ||
| Q1 24 | 9.5% | 11.7% |
每股收益（稀释后）CGMCHP
| Q4 25 | $0.96 | $0.06 | ||
| Q3 25 | $0.00 | $0.03 | ||
| Q2 25 | $0.87 | $-0.09 | ||
| Q1 25 | $0.35 | $-0.29 | ||
| Q4 24 | $0.56 | $-0.10 | ||
| Q3 24 | $1.63 | $0.14 | ||
| Q2 24 | $0.40 | $0.24 | ||
| Q1 24 | $0.18 | $0.29 |
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 | $2.0B | $250.7M |
| 总债务越低越好 | — | $5.4B |
| 股东权益账面价值 | $7.1B | $6.6B |
| 总资产 | $29.1B | $14.3B |
| 负债/权益比越低杠杆越低 | — | 0.82× |
8季度趋势，按日历期对齐
现金及短期投资CGMCHP
| Q4 25 | $2.0B | $250.7M | ||
| Q3 25 | $2.2B | $236.8M | ||
| Q2 25 | $1.3B | $566.5M | ||
| Q1 25 | $1.2B | $771.7M | ||
| Q4 24 | $1.3B | $586.0M | ||
| Q3 24 | $1.4B | $286.1M | ||
| Q2 24 | $914.8M | $315.1M | ||
| Q1 24 | $1.3B | $319.7M |
总债务CGMCHP
| Q4 25 | — | $5.4B | ||
| Q3 25 | — | $5.4B | ||
| Q2 25 | — | $5.5B | ||
| Q1 25 | — | $5.6B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.2B | ||
| Q1 24 | — | $6.0B |
股东权益CGMCHP
| Q4 25 | $7.1B | $6.6B | ||
| Q3 25 | $6.8B | $6.7B | ||
| Q2 25 | $6.7B | $6.9B | ||
| Q1 25 | $6.4B | $7.1B | ||
| Q4 24 | $6.3B | $6.0B | ||
| Q3 24 | $6.3B | $6.3B | ||
| Q2 24 | $5.7B | $6.4B | ||
| Q1 24 | $5.7B | $6.7B |
总资产CGMCHP
| Q4 25 | $29.1B | $14.3B | ||
| Q3 25 | $27.1B | $14.5B | ||
| Q2 25 | $25.1B | $15.0B | ||
| Q1 25 | $24.1B | $15.4B | ||
| Q4 24 | $23.1B | $15.6B | ||
| Q3 24 | $22.7B | $15.6B | ||
| Q2 24 | $22.3B | $15.8B | ||
| Q1 24 | $20.8B | $15.9B |
负债/权益比CGMCHP
| Q4 25 | — | 0.82× | ||
| Q3 25 | — | 0.80× | ||
| Q2 25 | — | 0.80× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | 1.02× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | — | 0.90× |
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 | $-1.2B | $341.4M |
| 自由现金流经营现金流 - 资本支出 | $-1.2B | $318.9M |
| 自由现金流率自由现金流/营收 | -65.1% | 26.9% |
| 资本支出强度资本支出/营收 | 2.2% | 1.9% |
| 现金转化率经营现金流/净利润 | -3.34× | 5.44× |
| 过去12个月自由现金流最近4个季度 | $-3.4B | $819.9M |
8季度趋势，按日历期对齐
经营现金流CGMCHP
| Q4 25 | $-1.2B | $341.4M | ||
| Q3 25 | $-1.6B | $88.1M | ||
| Q2 25 | $-168.8M | $275.6M | ||
| Q1 25 | $-352.1M | $205.9M | ||
| Q4 24 | $-352.8M | $271.5M | ||
| Q3 24 | $791.9M | $43.6M | ||
| Q2 24 | $-1.3B | $377.1M | ||
| Q1 24 | $71.1M | $430.0M |
自由现金流CGMCHP
| Q4 25 | $-1.2B | $318.9M | ||
| Q3 25 | $-1.6B | $51.6M | ||
| Q2 25 | $-186.3M | $257.7M | ||
| Q1 25 | $-368.8M | $191.7M | ||
| Q4 24 | $-379.5M | $253.4M | ||
| Q3 24 | $772.8M | $22.8M | ||
| Q2 24 | $-1.3B | $304.2M | ||
| Q1 24 | $56.9M | $389.9M |
自由现金流率CGMCHP
| Q4 25 | -65.1% | 26.9% | ||
| Q3 25 | -475.7% | 4.5% | ||
| Q2 25 | -11.8% | 24.0% | ||
| Q1 25 | -37.9% | 19.8% | ||
| Q4 24 | -36.8% | 24.7% | ||
| Q3 24 | 29.3% | 2.0% | ||
| Q2 24 | -120.4% | 24.5% | ||
| Q1 24 | 8.3% | 29.4% |
资本支出强度CGMCHP
| Q4 25 | 2.2% | 1.9% | ||
| Q3 25 | 7.0% | 3.2% | ||
| Q2 25 | 1.1% | 1.7% | ||
| Q1 25 | 1.7% | 1.5% | ||
| Q4 24 | 2.6% | 1.8% | ||
| Q3 24 | 0.7% | 1.8% | ||
| Q2 24 | 1.7% | 5.9% | ||
| Q1 24 | 2.1% | 3.0% |
现金转化率CGMCHP
| Q4 25 | -3.34× | 5.44× | ||
| Q3 25 | -1732.78× | 2.11× | ||
| Q2 25 | -0.53× | — | ||
| Q1 25 | -2.71× | — | ||
| Q4 24 | -1.67× | — | ||
| Q3 24 | 1.33× | 0.56× | ||
| Q2 24 | -8.57× | 2.92× | ||
| Q1 24 | 1.08× | 2.78× |
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
CG
| Fund Management Fee | $606.8M | 32% |
| Other | $528.7M | 28% |
| Global Private Equity Segment | $307.3M | 16% |
| Global Credit Segment | $238.0M | 13% |
| Carlyle Alp Invest Segment | $124.6M | 7% |
| Incentive Fee | $55.4M | 3% |
| Fee Related Performance Revenues | $29.2M | 2% |
| Investment Advice | $11.1M | 1% |
MCHP
| Mixed Signal Microcontrollers | $586.5M | 49% |
| Analog | $322.9M | 27% |
| Other Product Line | $276.6M | 23% |
