vs
凯雷集团（CG）与Qorvo, Inc.（QRVO）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Qorvo, Inc.的1.9倍（$1.9B vs $993.0M），凯雷集团净利率更高（18.8% vs 16.5%，领先2.3%），凯雷集团同比增速更快（84.1% vs 8.4%），Qorvo, Inc.自由现金流更多（$236.9M vs $-1.2B），过去两年凯雷集团的营收复合增速更高（66.2% vs 2.7%）
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。
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。
CG vs QRVO — 直观对比
营收规模更大
CG
是对方的1.9倍
$993.0M
营收增速更快
CG
高出75.8%
8.4%
净利率更高
CG
高出2.3%
16.5%
自由现金流更多
QRVO
多$1.5B
$-1.2B
两年增速更快
CG
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $993.0M |
| 净利润 | $358.1M | $164.1M |
| 毛利率 | — | 46.7% |
| 营业利润率 | 24.3% | 19.4% |
| 净利率 | 18.8% | 16.5% |
| 营收同比 | 84.1% | 8.4% |
| 净利润同比 | 69.8% | 297.5% |
| 每股收益（稀释后） | $0.96 | $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CGQRVO
| Q4 25 | $1.9B | $993.0M | ||
| Q3 25 | $332.7M | $1.1B | ||
| Q2 25 | $1.6B | $818.8M | ||
| Q1 25 | $973.1M | $869.5M | ||
| Q4 24 | $1.0B | $916.3M | ||
| Q3 24 | $2.6B | $1.0B | ||
| Q2 24 | $1.1B | $886.7M | ||
| Q1 24 | $688.4M | $941.0M |
净利润CGQRVO
| Q4 25 | $358.1M | $164.1M | ||
| Q3 25 | $900.0K | $119.6M | ||
| Q2 25 | $319.7M | $25.6M | ||
| Q1 25 | $130.0M | $31.4M | ||
| Q4 24 | $210.9M | $41.3M | ||
| Q3 24 | $595.7M | $-17.4M | ||
| Q2 24 | $148.2M | $414.0K | ||
| Q1 24 | $65.6M | $2.7M |
毛利率CGQRVO
| Q4 25 | — | 46.7% | ||
| Q3 25 | — | 47.0% | ||
| Q2 25 | — | 40.5% | ||
| Q1 25 | — | 42.2% | ||
| Q4 24 | — | 42.7% | ||
| Q3 24 | — | 42.6% | ||
| Q2 24 | — | 37.5% | ||
| Q1 24 | — | 40.6% |
营业利润率CGQRVO
| Q4 25 | 24.3% | 19.4% | ||
| Q3 25 | 25.8% | 14.9% | ||
| Q2 25 | 28.0% | 3.7% | ||
| Q1 25 | 17.6% | 3.2% | ||
| Q4 24 | 25.7% | 5.8% | ||
| Q3 24 | 29.9% | 0.9% | ||
| Q2 24 | 20.5% | 0.5% | ||
| Q1 24 | 17.5% | 3.2% |
净利率CGQRVO
| Q4 25 | 18.8% | 16.5% | ||
| Q3 25 | 0.3% | 11.3% | ||
| Q2 25 | 20.3% | 3.1% | ||
| Q1 25 | 13.4% | 3.6% | ||
| Q4 24 | 20.4% | 4.5% | ||
| Q3 24 | 22.6% | -1.7% | ||
| Q2 24 | 13.9% | 0.0% | ||
| Q1 24 | 9.5% | 0.3% |
每股收益（稀释后）CGQRVO
| Q4 25 | $0.96 | $1.75 | ||
| Q3 25 | $0.00 | $1.28 | ||
| Q2 25 | $0.87 | $0.27 | ||
| Q1 25 | $0.35 | $0.33 | ||
| Q4 24 | $0.56 | $0.43 | ||
| Q3 24 | $1.63 | $-0.18 | ||
| Q2 24 | $0.40 | $0.00 | ||
| Q1 24 | $0.18 | $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 | $2.0B | $1.3B |
| 总债务越低越好 | — | $1.5B |
| 股东权益账面价值 | $7.1B | $3.7B |
| 总资产 | $29.1B | $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CGQRVO
| Q4 25 | $2.0B | $1.3B | ||
| Q3 25 | $2.2B | $1.1B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $1.3B | $769.4M | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $914.8M | $1.1B | ||
| Q1 24 | $1.3B | $1.0B |
总债务CGQRVO
| 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CGQRVO
| Q4 25 | $7.1B | $3.7B | ||
| Q3 25 | $6.8B | $3.5B | ||
| Q2 25 | $6.7B | $3.4B | ||
| Q1 25 | $6.4B | $3.4B | ||
| Q4 24 | $6.3B | $3.4B | ||
| Q3 24 | $6.3B | $3.4B | ||
| Q2 24 | $5.7B | $3.5B | ||
| Q1 24 | $5.7B | $3.6B |
总资产CGQRVO
| Q4 25 | $29.1B | $6.2B | ||
| Q3 25 | $27.1B | $6.1B | ||
| Q2 25 | $25.1B | $6.0B | ||
| Q1 25 | $24.1B | $5.9B | ||
| Q4 24 | $23.1B | $6.0B | ||
| Q3 24 | $22.7B | $6.5B | ||
| Q2 24 | $22.3B | $6.4B | ||
| Q1 24 | $20.8B | $6.6B |
负债/权益比CGQRVO
| 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 | $-1.2B | $265.4M |
| 自由现金流经营现金流 - 资本支出 | $-1.2B | $236.9M |
| 自由现金流率自由现金流/营收 | -65.1% | 23.9% |
| 资本支出强度资本支出/营收 | 2.2% | 2.9% |
| 现金转化率经营现金流/净利润 | -3.34× | 1.62× |
| 过去12个月自由现金流最近4个季度 | $-3.4B | $595.2M |
8季度趋势，按日历期对齐
经营现金流CGQRVO
| Q4 25 | $-1.2B | $265.4M | ||
| Q3 25 | $-1.6B | $84.0M | ||
| Q2 25 | $-168.8M | $182.9M | ||
| Q1 25 | $-352.1M | $199.2M | ||
| Q4 24 | $-352.8M | $214.1M | ||
| Q3 24 | $791.9M | $127.8M | ||
| Q2 24 | $-1.3B | $81.1M | ||
| Q1 24 | $71.1M | — |
自由现金流CGQRVO
| Q4 25 | $-1.2B | $236.9M | ||
| Q3 25 | $-1.6B | $42.2M | ||
| Q2 25 | $-186.3M | $145.4M | ||
| Q1 25 | $-368.8M | $170.7M | ||
| Q4 24 | $-379.5M | $176.2M | ||
| Q3 24 | $772.8M | $94.8M | ||
| Q2 24 | $-1.3B | $42.9M | ||
| Q1 24 | $56.9M | — |
自由现金流率CGQRVO
| Q4 25 | -65.1% | 23.9% | ||
| Q3 25 | -475.7% | 4.0% | ||
| Q2 25 | -11.8% | 17.8% | ||
| Q1 25 | -37.9% | 19.6% | ||
| Q4 24 | -36.8% | 19.2% | ||
| Q3 24 | 29.3% | 9.1% | ||
| Q2 24 | -120.4% | 4.8% | ||
| Q1 24 | 8.3% | — |
资本支出强度CGQRVO
| Q4 25 | 2.2% | 2.9% | ||
| Q3 25 | 7.0% | 3.9% | ||
| Q2 25 | 1.1% | 4.6% | ||
| Q1 25 | 1.7% | 3.3% | ||
| Q4 24 | 2.6% | 4.1% | ||
| Q3 24 | 0.7% | 3.2% | ||
| Q2 24 | 1.7% | 4.3% | ||
| Q1 24 | 2.1% | — |
现金转化率CGQRVO
| Q4 25 | -3.34× | 1.62× | ||
| Q3 25 | -1732.78× | 0.70× | ||
| Q2 25 | -0.53× | 7.15× | ||
| Q1 25 | -2.71× | 6.35× | ||
| Q4 24 | -1.67× | 5.19× | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | -8.57× | 195.86× | ||
| Q1 24 | 1.08× | — |
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% |
QRVO
| ACG | $690.8M | 70% |
| HPA | $190.9M | 19% |
| CSG | $111.3M | 11% |
