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康卡斯特（CMCSA）与Meta Platforms（META）财务数据对比。点击上方公司名可切换其他公司
Meta Platforms的季度营收约是康卡斯特的1.9倍（$59.9B vs $31.5B）。Meta Platforms净利率更高（38.0% vs 6.9%，领先31.1%）。Meta Platforms同比增速更快（23.8% vs 5.3%）。Meta Platforms自由现金流更多（$14.8B vs $3.9B）。过去两年Meta Platforms的营收复合增速更高（28.2% vs 2.9%）
康卡斯特是美国跨国大众传媒、电信及娱乐综合集团，总部位于费城康卡斯特中心，旗下NBC环球、纽约业务及其他核心资产总部设于纽约曼哈顿中城洛克菲勒广场30号，2023年位列福布斯全球企业2000强第51位，是全球传媒娱乐领域的头部企业。
Meta Platforms是总部位于美国加利福尼亚州门洛帕克的跨国科技巨头，属于全球头部科技企业阵营。旗下运营Facebook、Instagram、WhatsApp、Messenger、Threads等多款知名社交媒体及通讯服务，同时开展自有及第三方站点广告业务，2023年广告收入占其总营收的97.8%。
CMCSA vs META — 直观对比
营收规模更大
META
是对方的1.9倍
$31.5B
营收增速更快
META
高出18.5%
5.3%
净利率更高
META
高出31.1%
6.9%
自由现金流更多
META
多$10.9B
$3.9B
两年增速更快
META
近两年复合增速
2.9%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $31.5B | $59.9B |
| 净利润 | $2.2B | $22.8B |
| 毛利率 | — | 81.8% |
| 营业利润率 | 13.1% | 41.3% |
| 净利率 | 6.9% | 38.0% |
| 营收同比 | 5.3% | 23.8% |
| 净利润同比 | -35.6% | 9.3% |
| 每股收益（稀释后） | $0.60 | $8.87 |
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CMCSAMETA
| Q1 26 | $31.5B | — | ||
| Q4 25 | $32.3B | $59.9B | ||
| Q3 25 | $31.2B | $51.2B | ||
| Q2 25 | $30.3B | $47.5B | ||
| Q1 25 | $29.9B | $42.3B | ||
| Q4 24 | $31.9B | $48.4B | ||
| Q3 24 | $32.1B | $40.6B | ||
| Q2 24 | $29.7B | $39.1B |
净利润CMCSAMETA
| Q1 26 | $2.2B | — | ||
| Q4 25 | $2.2B | $22.8B | ||
| Q3 25 | $3.3B | $2.7B | ||
| Q2 25 | $11.1B | $18.3B | ||
| Q1 25 | $3.4B | $16.6B | ||
| Q4 24 | $4.8B | $20.8B | ||
| Q3 24 | $3.6B | $15.7B | ||
| Q2 24 | $3.9B | $13.5B |
毛利率CMCSAMETA
| Q1 26 | — | — | ||
| Q4 25 | — | 81.8% | ||
| Q3 25 | — | 82.0% | ||
| Q2 25 | — | 82.1% | ||
| Q1 25 | — | 82.1% | ||
| Q4 24 | — | 81.7% | ||
| Q3 24 | — | 81.8% | ||
| Q2 24 | — | 81.3% |
营业利润率CMCSAMETA
| Q1 26 | 13.1% | — | ||
| Q4 25 | 10.8% | 41.3% | ||
| Q3 25 | 17.7% | 40.1% | ||
| Q2 25 | 19.8% | 43.0% | ||
| Q1 25 | 18.9% | 41.5% | ||
| Q4 24 | 15.6% | 48.3% | ||
| Q3 24 | 18.3% | 42.7% | ||
| Q2 24 | 22.3% | 38.0% |
净利率CMCSAMETA
| Q1 26 | 6.9% | — | ||
| Q4 25 | 6.7% | 38.0% | ||
| Q3 25 | 10.7% | 5.3% | ||
| Q2 25 | 36.7% | 38.6% | ||
| Q1 25 | 11.3% | 39.3% | ||
| Q4 24 | 15.0% | 43.1% | ||
| Q3 24 | 11.3% | 38.7% | ||
| Q2 24 | 13.2% | 34.5% |
每股收益（稀释后）CMCSAMETA
| Q1 26 | $0.60 | — | ||
| Q4 25 | $0.62 | $8.87 | ||
| Q3 25 | $0.90 | $1.05 | ||
| Q2 25 | $2.98 | $7.14 | ||
| Q1 25 | $0.89 | $6.43 | ||
| Q4 24 | $1.23 | $7.96 | ||
| Q3 24 | $0.94 | $6.03 | ||
| Q2 24 | $1.00 | $5.16 |
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 | $9.5B | $81.6B |
| 总债务越低越好 | $5.4B | $58.7B |
| 股东权益账面价值 | $88.3B | $217.2B |
| 总资产 | $260.0B | $366.0B |
| 负债/权益比越低杠杆越低 | 0.06× | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资CMCSAMETA
| Q1 26 | $9.5B | — | ||
| Q4 25 | $9.5B | $81.6B | ||
| Q3 25 | $9.3B | $44.4B | ||
| Q2 25 | $9.7B | $47.1B | ||
| Q1 25 | $8.6B | $70.2B | ||
| Q4 24 | $7.3B | $77.8B | ||
| Q3 24 | $8.9B | $70.9B | ||
| Q2 24 | $6.2B | $58.1B |
总债务CMCSAMETA
| Q1 26 | $5.4B | — | ||
| Q4 25 | $93.0B | $58.7B | ||
| Q3 25 | $93.2B | — | ||
| Q2 25 | $95.8B | — | ||
| Q1 25 | $92.3B | — | ||
| Q4 24 | $94.2B | $28.8B | ||
| Q3 24 | $98.8B | $28.8B | ||
| Q2 24 | $97.1B | — |
股东权益CMCSAMETA
| Q1 26 | $88.3B | — | ||
| Q4 25 | $96.9B | $217.2B | ||
| Q3 25 | $97.1B | $194.1B | ||
| Q2 25 | $96.9B | $195.1B | ||
| Q1 25 | $86.6B | $185.0B | ||
| Q4 24 | $85.6B | $182.6B | ||
| Q3 24 | $85.8B | $164.5B | ||
| Q2 24 | $83.2B | $156.8B |
总资产CMCSAMETA
| Q1 26 | $260.0B | — | ||
| Q4 25 | $272.6B | $366.0B | ||
| Q3 25 | $273.0B | $303.8B | ||
| Q2 25 | $273.9B | $294.7B | ||
| Q1 25 | $267.8B | $280.2B | ||
| Q4 24 | $266.2B | $276.1B | ||
| Q3 24 | $269.9B | $256.4B | ||
| Q2 24 | $262.6B | $230.2B |
负债/权益比CMCSAMETA
| Q1 26 | 0.06× | — | ||
| Q4 25 | 0.96× | 0.27× | ||
| Q3 25 | 0.96× | — | ||
| Q2 25 | 0.99× | — | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 1.10× | 0.16× | ||
| Q3 24 | 1.15× | 0.18× | ||
| Q2 24 | 1.17× | — |
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 | $6.9B | $36.2B |
| 自由现金流经营现金流 - 资本支出 | $3.9B | $14.8B |
| 自由现金流率自由现金流/营收 | 12.4% | 24.8% |
| 资本支出强度资本支出/营收 | 7.5% | 35.7% |
| 现金转化率经营现金流/净利润 | 3.17× | 1.59× |
| 过去12个月自由现金流最近4个季度 | $19.8B | $46.1B |
8季度趋势，按日历期对齐
经营现金流CMCSAMETA
| Q1 26 | $6.9B | — | ||
| Q4 25 | $8.8B | $36.2B | ||
| Q3 25 | $8.7B | $30.0B | ||
| Q2 25 | $7.8B | $25.6B | ||
| Q1 25 | $8.3B | $24.0B | ||
| Q4 24 | $8.1B | $28.0B | ||
| Q3 24 | $7.0B | $24.7B | ||
| Q2 24 | $4.7B | $19.4B |
自由现金流CMCSAMETA
| Q1 26 | $3.9B | — | ||
| Q4 25 | $5.1B | $14.8B | ||
| Q3 25 | $5.6B | $11.2B | ||
| Q2 25 | $5.1B | $9.0B | ||
| Q1 25 | $6.0B | $11.1B | ||
| Q4 24 | $4.2B | $13.6B | ||
| Q3 24 | $4.1B | $16.5B | ||
| Q2 24 | $2.0B | $11.2B |
自由现金流率CMCSAMETA
| Q1 26 | 12.4% | — | ||
| Q4 25 | 15.8% | 24.8% | ||
| Q3 25 | 18.0% | 21.8% | ||
| Q2 25 | 16.9% | 19.0% | ||
| Q1 25 | 20.2% | 26.2% | ||
| Q4 24 | 13.1% | 28.0% | ||
| Q3 24 | 12.8% | 40.6% | ||
| Q2 24 | 6.7% | 28.7% |
资本支出强度CMCSAMETA
| Q1 26 | 7.5% | — | ||
| Q4 25 | 11.6% | 35.7% | ||
| Q3 25 | 9.8% | 36.7% | ||
| Q2 25 | 8.8% | 34.8% | ||
| Q1 25 | 7.5% | 30.6% | ||
| Q4 24 | 12.3% | 29.8% | ||
| Q3 24 | 9.1% | 20.3% | ||
| Q2 24 | 9.2% | 20.9% |
现金转化率CMCSAMETA
| Q1 26 | 3.17× | — | ||
| Q4 25 | 4.08× | 1.59× | ||
| Q3 25 | 2.61× | 11.07× | ||
| Q2 25 | 0.70× | 1.39× | ||
| Q1 25 | 2.46× | 1.44× | ||
| Q4 24 | 1.69× | 1.34× | ||
| Q3 24 | 1.93× | 1.58× | ||
| Q2 24 | 1.20× | 1.44× |
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
CMCSA
| Connectivity & Platforms | $20.0B | 63% |
| Content & Experiences | $11.9B | 38% |
META
| Advertising | $58.1B | 97% |
| Reality Labs | $955.0M | 2% |
| Service Other | $801.0M | 1% |
