vs
开市客（COST）与台积电（TSM）财务数据对比。点击上方公司名可切换其他公司
开市客的季度营收约是台积电的1.9倍（$67.3B vs $35.5B），台积电净利率更高（50.5% vs 3.0%，领先47.5%）
开市客是起源于美国的跨国连锁会员制仓储量贩集团，为全球第三大零售企业。截至2024年8月，开市客是全球规模最大的牛肉、禽肉、有机农产品及葡萄酒零售商，约有近三分之一的美国消费者定期前往其线下门店消费。
台积电是全球规模最大的专业独立半导体晶圆代工厂，总部位于中国台湾新竹，主要为无晶圆厂客户代工生产先进逻辑芯片，服务客户包括苹果、英伟达、AMD、高通和博通等，在3纳米、5纳米、7纳米等先进制程节点领域处于行业领先地位。
COST vs TSM — 直观对比
营收规模更大
COST
是对方的1.9倍
$35.5B
净利率更高
TSM
高出47.5%
3.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $67.3B | $35.5B |
| 净利润 | $2.0B | $17.9B |
| 毛利率 | 13.1% | 66.2% |
| 营业利润率 | 3.7% | 58.0% |
| 净利率 | 3.0% | 50.5% |
| 营收同比 | 8.3% | — |
| 净利润同比 | 11.3% | — |
| 每股收益（稀释后） | $4.50 | $111.55 |
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COSTTSM
| Q1 26 | — | $35.5B | ||
| Q4 25 | $67.3B | $32.7B | ||
| Q3 25 | $86.2B | $30.7B | ||
| Q2 25 | $63.2B | $28.9B | ||
| Q1 25 | $63.7B | $26.0B | ||
| Q4 24 | $62.2B | $88.3B | ||
| Q2 24 | $58.5B | — | ||
| Q1 24 | $58.4B | — |
净利润COSTTSM
| Q1 26 | — | $17.9B | ||
| Q4 25 | $2.0B | $15.8B | ||
| Q3 25 | $2.6B | $14.0B | ||
| Q2 25 | $1.9B | $12.3B | ||
| Q1 25 | $1.8B | $11.2B | ||
| Q4 24 | $1.8B | $35.3B | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.7B | — |
毛利率COSTTSM
| Q1 26 | — | 66.2% | ||
| Q4 25 | 13.1% | 62.3% | ||
| Q3 25 | 12.9% | 59.5% | ||
| Q2 25 | 13.0% | 58.6% | ||
| Q1 25 | 12.5% | 58.8% | ||
| Q4 24 | 12.9% | 56.1% | ||
| Q2 24 | 12.5% | — | ||
| Q1 24 | 12.5% | — |
营业利润率COSTTSM
| Q1 26 | — | 58.0% | ||
| Q4 25 | 3.7% | 53.9% | ||
| Q3 25 | 3.9% | 50.6% | ||
| Q2 25 | 4.0% | 49.6% | ||
| Q1 25 | 3.6% | 48.5% | ||
| Q4 24 | 3.5% | 45.7% | ||
| Q2 24 | 3.8% | — | ||
| Q1 24 | 3.5% | — |
净利率COSTTSM
| Q1 26 | — | 50.5% | ||
| Q4 25 | 3.0% | 48.3% | ||
| Q3 25 | 3.0% | 45.7% | ||
| Q2 25 | 3.0% | 42.7% | ||
| Q1 25 | 2.8% | 43.1% | ||
| Q4 24 | 2.9% | 40.0% | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 3.0% | — |
每股收益（稀释后）COSTTSM
| Q1 26 | — | $111.55 | ||
| Q4 25 | $4.50 | $98.45 | ||
| Q3 25 | $5.87 | $87.20 | ||
| Q2 25 | $4.28 | $76.80 | ||
| Q1 25 | $4.02 | $69.70 | ||
| Q4 24 | $4.04 | $1.36 | ||
| Q2 24 | $3.78 | — | ||
| Q1 24 | $3.92 | — |
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 | $17.2B | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $30.3B | — |
| 总资产 | $82.8B | — |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资COSTTSM
| Q1 26 | — | — | ||
| Q4 25 | $17.2B | — | ||
| Q3 25 | $15.3B | — | ||
| Q2 25 | $14.8B | — | ||
| Q1 25 | $13.2B | — | ||
| Q4 24 | $11.8B | $64.9B | ||
| Q2 24 | $11.5B | — | ||
| Q1 24 | $10.3B | — |
股东权益COSTTSM
| Q1 26 | — | — | ||
| Q4 25 | $30.3B | — | ||
| Q3 25 | $29.2B | — | ||
| Q2 25 | $27.1B | — | ||
| Q1 25 | $25.6B | — | ||
| Q4 24 | $24.5B | $130.5B | ||
| Q2 24 | $21.8B | — | ||
| Q1 24 | $20.8B | — |
总资产COSTTSM
| Q1 26 | — | — | ||
| Q4 25 | $82.8B | — | ||
| Q3 25 | $77.1B | — | ||
| Q2 25 | $75.5B | — | ||
| Q1 25 | $73.2B | — | ||
| Q4 24 | $73.4B | $204.1B | ||
| Q2 24 | $67.9B | — | ||
| Q1 24 | $66.3B | — |
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 | $4.7B | — |
| 自由现金流经营现金流 - 资本支出 | $3.2B | — |
| 自由现金流率自由现金流/营收 | 4.7% | — |
| 资本支出强度资本支出/营收 | 2.3% | — |
| 现金转化率经营现金流/净利润 | 2.34× | — |
| 过去12个月自由现金流最近4个季度 | $9.0B | — |
8季度趋势，按日历期对齐
经营现金流COSTTSM
| Q1 26 | — | — | ||
| Q4 25 | $4.7B | — | ||
| Q3 25 | $3.9B | — | ||
| Q2 25 | $3.5B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $3.3B | $55.7B | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $731.0M | — |
自由现金流COSTTSM
| Q1 26 | — | — | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $2.0B | $26.5B | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $-300.0M | — |
自由现金流率COSTTSM
| Q1 26 | — | — | ||
| Q4 25 | 4.7% | — | ||
| Q3 25 | 2.2% | — | ||
| Q2 25 | 3.7% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 3.2% | 30.1% | ||
| Q2 24 | 3.3% | — | ||
| Q1 24 | -0.5% | — |
资本支出强度COSTTSM
| Q1 26 | — | — | ||
| Q4 25 | 2.3% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 2.0% | 33.0% | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 1.8% | — |
现金转化率COSTTSM
| Q1 26 | — | — | ||
| Q4 25 | 2.34× | — | ||
| Q3 25 | 1.48× | — | ||
| Q2 25 | 1.82× | — | ||
| Q1 25 | 1.54× | — | ||
| Q4 24 | 1.81× | 1.58× | ||
| Q2 24 | 1.78× | — | ||
| Q1 24 | 0.42× | — |
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
COST
| Foods And Sundries | $27.1B | 40% |
| Non Foods | $19.2B | 28% |
| Other | $12.1B | 18% |
| Fresh Foods | $9.9B | 15% |
| Membership | $1.4B | 2% |
TSM
暂无分部数据
