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Salesforce（CRM）与百事公司（PFGC）财务数据对比。点击上方公司名可切换其他公司
百事公司的季度营收约是Salesforce的1.6倍（$16.4B vs $10.3B），Salesforce净利率更高（20.3% vs 0.4%，领先20.0%），Salesforce同比增速更快（8.6% vs 5.2%），Salesforce自由现金流更多（$2.2B vs $487.8M），过去两年百事公司的营收复合增速更高（8.9% vs 5.1%）
Salesforce是总部位于美国加利福尼亚州旧金山的云软件企业，提供销售管理、客户服务、营销自动化、电子商务、数据分析、人工智能、代理式AI及应用开发等领域的企业级数字化解决方案，助力企业提升运营效率、优化客户关系管理。
百事公司是总部位于美国纽约州珀彻斯的跨国食品饮料企业，1965年由百事可乐公司与菲多利合并成立。业务覆盖食品饮料全领域，负责旗下产品的生产、分销与市场营销，产品矩阵从最初的百事可乐扩展到了丰富多元的知名品牌组合。
CRM vs PFGC — 直观对比
营收规模更大
PFGC
是对方的1.6倍
$10.3B
营收增速更快
CRM
高出3.5%
5.2%
净利率更高
CRM
高出20.0%
0.4%
自由现金流更多
CRM
多$1.7B
$487.8M
两年增速更快
PFGC
近两年复合增速
5.1%
损益表 — Q3 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $16.4B |
| 净利润 | $2.1B | $61.7M |
| 毛利率 | 78.0% | 12.0% |
| 营业利润率 | 21.3% | 1.2% |
| 净利率 | 20.3% | 0.4% |
| 营收同比 | 8.6% | 5.2% |
| 净利润同比 | 36.6% | 45.5% |
| 每股收益（稀释后） | $2.19 | $0.39 |
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CRMPFGC
| Q4 25 | $10.3B | $16.4B | ||
| Q3 25 | $10.2B | $17.1B | ||
| Q2 25 | $9.8B | $16.9B | ||
| Q1 25 | $10.0B | $15.3B | ||
| Q4 24 | $9.4B | $15.6B | ||
| Q3 24 | $9.3B | $15.4B | ||
| Q2 24 | $9.1B | $15.2B | ||
| Q1 24 | $9.3B | $13.9B |
净利润CRMPFGC
| Q4 25 | $2.1B | $61.7M | ||
| Q3 25 | $1.9B | $93.6M | ||
| Q2 25 | $1.5B | $131.5M | ||
| Q1 25 | $1.7B | $58.3M | ||
| Q4 24 | $1.5B | $42.4M | ||
| Q3 24 | $1.4B | $108.0M | ||
| Q2 24 | $1.5B | $166.5M | ||
| Q1 24 | $1.4B | $70.4M |
毛利率CRMPFGC
| Q4 25 | 78.0% | 12.0% | ||
| Q3 25 | 78.1% | 11.8% | ||
| Q2 25 | 77.0% | 11.8% | ||
| Q1 25 | 77.8% | 11.9% | ||
| Q4 24 | 77.7% | 11.7% | ||
| Q3 24 | 76.8% | 11.4% | ||
| Q2 24 | 76.3% | 11.5% | ||
| Q1 24 | 76.9% | 11.3% |
营业利润率CRMPFGC
| Q4 25 | 21.3% | 1.2% | ||
| Q3 25 | 22.8% | 1.3% | ||
| Q2 25 | 19.8% | 1.6% | ||
| Q1 25 | 18.2% | 1.1% | ||
| Q4 24 | 20.0% | 1.0% | ||
| Q3 24 | 19.1% | 1.4% | ||
| Q2 24 | 18.7% | 1.9% | ||
| Q1 24 | 17.5% | 1.1% |
净利率CRMPFGC
| Q4 25 | 20.3% | 0.4% | ||
| Q3 25 | 18.4% | 0.5% | ||
| Q2 25 | 15.7% | 0.8% | ||
| Q1 25 | 17.1% | 0.4% | ||
| Q4 24 | 16.2% | 0.3% | ||
| Q3 24 | 15.3% | 0.7% | ||
| Q2 24 | 16.8% | 1.1% | ||
| Q1 24 | 15.6% | 0.5% |
每股收益（稀释后）CRMPFGC
| Q4 25 | $2.19 | $0.39 | ||
| Q3 25 | $1.96 | $0.60 | ||
| Q2 25 | $1.59 | $0.85 | ||
| Q1 25 | $1.75 | $0.37 | ||
| Q4 24 | $1.58 | $0.27 | ||
| Q3 24 | $1.47 | $0.69 | ||
| Q2 24 | $1.56 | $1.07 | ||
| Q1 24 | $1.47 | $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 | $9.0B | — |
| 总债务越低越好 | $8.4B | $5.3B |
| 股东权益账面价值 | $60.0B | $4.6B |
| 总资产 | $95.1B | $18.2B |
| 负债/权益比越低杠杆越低 | 0.14× | 1.13× |
8季度趋势，按日历期对齐
现金及短期投资CRMPFGC
| Q4 25 | $9.0B | — | ||
| Q3 25 | $10.4B | — | ||
| Q2 25 | $10.9B | — | ||
| Q1 25 | $8.8B | — | ||
| Q4 24 | $8.0B | — | ||
| Q3 24 | $7.7B | — | ||
| Q2 24 | $10.0B | — | ||
| Q1 24 | $8.5B | — |
总债务CRMPFGC
| Q4 25 | $8.4B | $5.3B | ||
| Q3 25 | $8.4B | $5.6B | ||
| Q2 25 | $8.4B | $5.4B | ||
| Q1 25 | $8.4B | $5.4B | ||
| Q4 24 | $8.4B | $5.7B | ||
| Q3 24 | $8.4B | $3.9B | ||
| Q2 24 | $9.4B | $3.2B | ||
| Q1 24 | $9.4B | $3.2B |
股东权益CRMPFGC
| Q4 25 | $60.0B | $4.6B | ||
| Q3 25 | $61.3B | $4.6B | ||
| Q2 25 | $60.7B | $4.5B | ||
| Q1 25 | $61.2B | $4.3B | ||
| Q4 24 | $58.5B | $4.3B | ||
| Q3 24 | $57.6B | $4.2B | ||
| Q2 24 | $59.7B | $4.1B | ||
| Q1 24 | $59.6B | $4.0B |
总资产CRMPFGC
| Q4 25 | $95.1B | $18.2B | ||
| Q3 25 | $97.6B | $18.4B | ||
| Q2 25 | $98.6B | $17.9B | ||
| Q1 25 | $102.9B | $17.1B | ||
| Q4 24 | $91.4B | $17.1B | ||
| Q3 24 | $92.2B | $14.4B | ||
| Q2 24 | $96.2B | $13.4B | ||
| Q1 24 | $99.8B | $12.9B |
负债/权益比CRMPFGC
| Q4 25 | 0.14× | 1.13× | ||
| Q3 25 | 0.14× | 1.23× | ||
| Q2 25 | 0.14× | 1.20× | ||
| Q1 25 | 0.14× | 1.25× | ||
| Q4 24 | 0.14× | 1.34× | ||
| Q3 24 | 0.15× | 0.93× | ||
| Q2 24 | 0.16× | 0.78× | ||
| Q1 24 | 0.16× | 0.81× |
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 | $2.3B | $601.2M |
| 自由现金流经营现金流 - 资本支出 | $2.2B | $487.8M |
| 自由现金流率自由现金流/营收 | 21.2% | 3.0% |
| 资本支出强度资本支出/营收 | 1.4% | 0.7% |
| 现金转化率经营现金流/净利润 | 1.11× | 9.74× |
| 过去12个月自由现金流最近4个季度 | $12.9B | $792.7M |
8季度趋势，按日历期对齐
经营现金流CRMPFGC
| Q4 25 | $2.3B | $601.2M | ||
| Q3 25 | $740.0M | $-145.2M | ||
| Q2 25 | $6.5B | $383.0M | ||
| Q1 25 | $4.0B | $448.1M | ||
| Q4 24 | $2.0B | $325.5M | ||
| Q3 24 | $892.0M | $53.5M | ||
| Q2 24 | $6.2B | $206.3M | ||
| Q1 24 | $3.4B | $402.7M |
自由现金流CRMPFGC
| Q4 25 | $2.2B | $487.8M | ||
| Q3 25 | $605.0M | $-224.1M | ||
| Q2 25 | $6.3B | $209.7M | ||
| Q1 25 | $3.8B | $319.3M | ||
| Q4 24 | $1.8B | $218.1M | ||
| Q3 24 | $755.0M | $-43.0M | ||
| Q2 24 | $6.1B | $55.1M | ||
| Q1 24 | $3.3B | $305.4M |
自由现金流率CRMPFGC
| Q4 25 | 21.2% | 3.0% | ||
| Q3 25 | 5.9% | -1.3% | ||
| Q2 25 | 64.1% | 1.2% | ||
| Q1 25 | 38.2% | 2.1% | ||
| Q4 24 | 18.8% | 1.4% | ||
| Q3 24 | 8.1% | -0.3% | ||
| Q2 24 | 66.6% | 0.4% | ||
| Q1 24 | 35.1% | 2.2% |
资本支出强度CRMPFGC
| Q4 25 | 1.4% | 0.7% | ||
| Q3 25 | 1.3% | 0.5% | ||
| Q2 25 | 1.8% | 1.0% | ||
| Q1 25 | 1.5% | 0.8% | ||
| Q4 24 | 2.2% | 0.7% | ||
| Q3 24 | 1.5% | 0.6% | ||
| Q2 24 | 1.8% | 1.0% | ||
| Q1 24 | 1.6% | 0.7% |
现金转化率CRMPFGC
| Q4 25 | 1.11× | 9.74× | ||
| Q3 25 | 0.39× | -1.55× | ||
| Q2 25 | 4.20× | 2.91× | ||
| Q1 25 | 2.32× | 7.69× | ||
| Q4 24 | 1.30× | 7.68× | ||
| Q3 24 | 0.62× | 0.50× | ||
| Q2 24 | 4.08× | 1.24× | ||
| Q1 24 | 2.35× | 5.72× |
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
CRM
| Agentforce Service | $2.5B | 24% |
| Agentforce Sales | $2.3B | 22% |
| Agentforce360Platform Slack And Other | $2.2B | 21% |
| Agentforce Integration And Agentforce Analytics | $1.4B | 14% |
| Agentforce Marketing And Agentforce Commerce | $1.4B | 13% |
| Professional Servicesand Other | $533.0M | 5% |
PFGC
| Foodservice | $8.8B | 54% |
| Convenience | $6.3B | 38% |
| Specialty | $1.3B | 8% |
