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Coinbase（COIN）与美满电子科技（MRVL）财务数据对比。点击上方公司名可切换其他公司
美满电子科技的季度营收约是Coinbase的1.2倍（$2.1B vs $1.8B），美满电子科技净利率更高（91.7% vs -37.4%，领先129.1%），美满电子科技同比增速更快（36.8% vs -21.6%），过去两年美满电子科技的营收复合增速更高（20.6% vs 4.3%）
Coinbase是美国知名加密货币交易所，2012年由布莱恩·阿姆斯特朗与弗雷德·埃尔萨姆联合创立。截至2024年，平台拥有超1亿用户，业务覆盖100多个国家，是美国最大加密货币交易所、全球最大比特币托管机构，托管总资产近5160亿美元，持有约12%的流通比特币及11%的质押以太币。
美满电子科技是总部位于美国加利福尼亚州圣克拉拉的半导体企业，成立于1995年，专注于半导体及相关技术的研发与生产。截至2024年，公司全球员工超6500人，持有全球专利超1万项，2024财年总营收达55亿美元。
COIN vs MRVL — 直观对比
营收规模更大
MRVL
是对方的1.2倍
$1.8B
营收增速更快
MRVL
高出58.4%
-21.6%
净利率更高
MRVL
高出129.1%
-37.4%
两年增速更快
MRVL
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.1B |
| 净利润 | $-666.7M | $1.9B |
| 毛利率 | — | 51.6% |
| 营业利润率 | 15.4% | 17.2% |
| 净利率 | -37.4% | 91.7% |
| 营收同比 | -21.6% | 36.8% |
| 净利润同比 | -151.6% | 381.1% |
| 每股收益（稀释后） | $-2.43 | $2.20 |
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COINMRVL
| Q4 25 | $1.8B | $2.1B | ||
| Q3 25 | $1.9B | $2.0B | ||
| Q2 25 | $1.5B | $1.9B | ||
| Q1 25 | $2.0B | $1.8B | ||
| Q4 24 | $2.3B | $1.5B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.6B | $1.4B |
净利润COINMRVL
| Q4 25 | $-666.7M | $1.9B | ||
| Q3 25 | $432.6M | $194.8M | ||
| Q2 25 | $1.4B | $177.9M | ||
| Q1 25 | $65.6M | $200.2M | ||
| Q4 24 | $1.3B | $-676.3M | ||
| Q3 24 | $75.5M | $-193.3M | ||
| Q2 24 | $36.1M | $-215.6M | ||
| Q1 24 | $1.2B | $-392.7M |
毛利率COINMRVL
| Q4 25 | — | 51.6% | ||
| Q3 25 | — | 50.4% | ||
| Q2 25 | — | 50.3% | ||
| Q1 25 | — | 50.5% | ||
| Q4 24 | — | 23.0% | ||
| Q3 24 | — | 46.2% | ||
| Q2 24 | — | 45.5% | ||
| Q1 24 | — | 46.6% |
营业利润率COINMRVL
| Q4 25 | 15.4% | 17.2% | ||
| Q3 25 | 25.7% | 14.5% | ||
| Q2 25 | -1.6% | 14.3% | ||
| Q1 25 | 34.7% | 12.9% | ||
| Q4 24 | 45.5% | -46.4% | ||
| Q3 24 | 14.1% | -7.9% | ||
| Q2 24 | 23.7% | -13.1% | ||
| Q1 24 | 46.4% | -2.3% |
净利率COINMRVL
| Q4 25 | -37.4% | 91.7% | ||
| Q3 25 | 23.1% | 9.7% | ||
| Q2 25 | 95.4% | 9.4% | ||
| Q1 25 | 3.2% | 11.0% | ||
| Q4 24 | 56.8% | -44.6% | ||
| Q3 24 | 6.3% | -15.2% | ||
| Q2 24 | 2.5% | -18.6% | ||
| Q1 24 | 71.8% | -27.5% |
每股收益（稀释后）COINMRVL
| Q4 25 | $-2.43 | $2.20 | ||
| Q3 25 | $1.50 | $0.22 | ||
| Q2 25 | $5.14 | $0.20 | ||
| Q1 25 | $0.24 | $0.23 | ||
| Q4 24 | $4.66 | $-0.78 | ||
| Q3 24 | $0.28 | $-0.22 | ||
| Q2 24 | $0.14 | $-0.25 | ||
| Q1 24 | $4.40 | $-0.45 |
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 | $11.6B | $2.7B |
| 总债务越低越好 | $7.2B | $4.5B |
| 股东权益账面价值 | $14.8B | $14.1B |
| 总资产 | $29.7B | $21.6B |
| 负债/权益比越低杠杆越低 | 0.49× | 0.32× |
8季度趋势，按日历期对齐
现金及短期投资COINMRVL
| Q4 25 | $11.6B | $2.7B | ||
| Q3 25 | $9.8B | $1.2B | ||
| Q2 25 | $7.5B | $885.9M | ||
| Q1 25 | $8.1B | $948.3M | ||
| Q4 24 | $8.5B | $868.1M | ||
| Q3 24 | $7.7B | $808.7M | ||
| Q2 24 | $7.2B | $847.7M | ||
| Q1 24 | $6.7B | $950.8M |
总债务COINMRVL
| Q4 25 | $7.2B | $4.5B | ||
| Q3 25 | $7.2B | $4.5B | ||
| Q2 25 | $4.2B | $4.2B | ||
| Q1 25 | $4.2B | $4.1B | ||
| Q4 24 | $4.2B | $4.1B | ||
| Q3 24 | $4.2B | $4.1B | ||
| Q2 24 | $4.2B | $4.1B | ||
| Q1 24 | $4.2B | $4.2B |
股东权益COINMRVL
| Q4 25 | $14.8B | $14.1B | ||
| Q3 25 | $16.0B | $13.4B | ||
| Q2 25 | $12.1B | $13.3B | ||
| Q1 25 | $10.5B | $13.4B | ||
| Q4 24 | $10.3B | $13.4B | ||
| Q3 24 | $8.7B | $14.2B | ||
| Q2 24 | $8.4B | $14.5B | ||
| Q1 24 | $8.1B | $14.8B |
总资产COINMRVL
| Q4 25 | $29.7B | $21.6B | ||
| Q3 25 | $31.4B | $20.6B | ||
| Q2 25 | $23.5B | $20.0B | ||
| Q1 25 | $21.7B | $20.2B | ||
| Q4 24 | $22.5B | $19.7B | ||
| Q3 24 | $290.6B | $20.3B | ||
| Q2 24 | $287.0B | $20.5B | ||
| Q1 24 | $348.0B | $21.2B |
负债/权益比COINMRVL
| Q4 25 | 0.49× | 0.32× | ||
| Q3 25 | 0.45× | 0.33× | ||
| Q2 25 | 0.35× | 0.32× | ||
| Q1 25 | 0.40× | 0.30× | ||
| Q4 24 | 0.41× | 0.31× | ||
| Q3 24 | 0.48× | 0.29× | ||
| Q2 24 | 0.51× | 0.29× | ||
| Q1 24 | 0.52× | 0.28× |
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 | $3.1B | $582.3M |
| 自由现金流经营现金流 - 资本支出 | — | $508.8M |
| 自由现金流率自由现金流/营收 | — | 24.5% |
| 资本支出强度资本支出/营收 | — | 3.5% |
| 现金转化率经营现金流/净利润 | — | 0.31× |
| 过去12个月自由现金流最近4个季度 | — | $1.6B |
8季度趋势，按日历期对齐
经营现金流COINMRVL
| Q4 25 | $3.1B | $582.3M | ||
| Q3 25 | $-784.5M | $461.6M | ||
| Q2 25 | $328.5M | $332.9M | ||
| Q1 25 | $-182.7M | $514.0M | ||
| Q4 24 | $964.6M | $536.3M | ||
| Q3 24 | $696.5M | $306.4M | ||
| Q2 24 | $484.2M | $324.5M | ||
| Q1 24 | $411.5M | $546.6M |
自由现金流COINMRVL
| Q4 25 | — | $508.8M | ||
| Q3 25 | — | $414.1M | ||
| Q2 25 | — | $214.1M | ||
| Q1 25 | — | $444.1M | ||
| Q4 24 | — | $461.3M | ||
| Q3 24 | — | $258.2M | ||
| Q2 24 | — | $233.0M | ||
| Q1 24 | — | $475.6M |
自由现金流率COINMRVL
| Q4 25 | — | 24.5% | ||
| Q3 25 | — | 20.6% | ||
| Q2 25 | — | 11.3% | ||
| Q1 25 | — | 24.4% | ||
| Q4 24 | — | 30.4% | ||
| Q3 24 | — | 20.3% | ||
| Q2 24 | — | 20.1% | ||
| Q1 24 | — | 33.3% |
资本支出强度COINMRVL
| Q4 25 | — | 3.5% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 4.9% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 7.9% | ||
| Q1 24 | — | 5.0% |
现金转化率COINMRVL
| Q4 25 | — | 0.31× | ||
| Q3 25 | -1.81× | 2.37× | ||
| Q2 25 | 0.23× | 1.87× | ||
| Q1 25 | -2.79× | 2.57× | ||
| Q4 24 | 0.75× | — | ||
| Q3 24 | 9.23× | — | ||
| Q2 24 | 13.39× | — | ||
| Q1 24 | 0.35× | — |
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
COIN
| Bank Servicing Consumer Net | $733.9M | 41% |
| Subscription And Circulation | $727.4M | 41% |
| Bank Servicing Institutional | $185.0M | 10% |
| Other Revenue | $71.1M | 4% |
| Bank Servicing Other | $63.8M | 4% |
| Related Party | $1.3M | 0% |
MRVL
暂无分部数据
