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凌云逻辑（CRUS）与达尔科技（DIOD）财务数据对比。点击上方公司名可切换其他公司
凌云逻辑的季度营收约是达尔科技的1.5倍（$580.6M vs $391.6M），凌云逻辑净利率更高（24.2% vs 2.6%，领先21.6%），达尔科技同比增速更快（15.4% vs 4.5%），凌云逻辑自由现金流更多（$285.7M vs $12.4M），过去两年凌云逻辑的营收复合增速更高（25.0% vs 13.9%）
凌云逻辑（Cirrus Logic）是美国无晶圆厂半导体供应商，专注于模拟、混合信号及音频数字信号处理集成电路的研发与供应，1998年起总部设立于得克萨斯州奥斯汀市，产品广泛应用于消费电子、智能音频等多个领域。
达尔科技是一家全球性半导体制造商，主营分立器件、模拟及混合信号半导体产品的设计、生产与销售，产品广泛应用于汽车、工业、消费电子、计算及通信基础设施等核心领域，服务全球各地客户。
CRUS vs DIOD — 直观对比
营收规模更大
CRUS
是对方的1.5倍
$391.6M
营收增速更快
DIOD
高出10.9%
4.5%
净利率更高
CRUS
高出21.6%
2.6%
自由现金流更多
CRUS
多$273.3M
$12.4M
两年增速更快
CRUS
近两年复合增速
13.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $580.6M | $391.6M |
| 净利润 | $140.3M | $10.2M |
| 毛利率 | 53.1% | 31.1% |
| 营业利润率 | 26.3% | 3.4% |
| 净利率 | 24.2% | 2.6% |
| 营收同比 | 4.5% | 15.4% |
| 净利润同比 | 21.0% | 23.8% |
| 每股收益（稀释后） | $2.66 | $0.23 |
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CRUSDIOD
| Q4 25 | $580.6M | $391.6M | ||
| Q3 25 | $561.0M | $392.2M | ||
| Q2 25 | $407.3M | $366.2M | ||
| Q1 25 | $424.5M | $332.1M | ||
| Q4 24 | $555.7M | $339.3M | ||
| Q3 24 | $541.9M | $350.1M | ||
| Q2 24 | $374.0M | $319.8M | ||
| Q1 24 | $371.8M | $302.0M |
净利润CRUSDIOD
| Q4 25 | $140.3M | $10.2M | ||
| Q3 25 | $131.6M | $14.3M | ||
| Q2 25 | $60.7M | $46.1M | ||
| Q1 25 | $71.3M | $-4.4M | ||
| Q4 24 | $116.0M | $8.2M | ||
| Q3 24 | $102.1M | $13.7M | ||
| Q2 24 | $42.1M | $8.0M | ||
| Q1 24 | $44.8M | $14.0M |
毛利率CRUSDIOD
| Q4 25 | 53.1% | 31.1% | ||
| Q3 25 | 52.5% | 30.7% | ||
| Q2 25 | 52.6% | 31.5% | ||
| Q1 25 | 53.4% | 31.5% | ||
| Q4 24 | 53.6% | 32.7% | ||
| Q3 24 | 52.2% | 33.7% | ||
| Q2 24 | 50.5% | 33.6% | ||
| Q1 24 | 51.8% | 33.0% |
营业利润率CRUSDIOD
| Q4 25 | 26.3% | 3.4% | ||
| Q3 25 | 25.8% | 3.0% | ||
| Q2 25 | 17.8% | 2.6% | ||
| Q1 25 | 20.2% | 0.4% | ||
| Q4 24 | 26.2% | 3.5% | ||
| Q3 24 | 24.3% | 6.2% | ||
| Q2 24 | 12.5% | 1.2% | ||
| Q1 24 | 14.1% | 4.3% |
净利率CRUSDIOD
| Q4 25 | 24.2% | 2.6% | ||
| Q3 25 | 23.5% | 3.6% | ||
| Q2 25 | 14.9% | 12.6% | ||
| Q1 25 | 16.8% | -1.3% | ||
| Q4 24 | 20.9% | 2.4% | ||
| Q3 24 | 18.8% | 3.9% | ||
| Q2 24 | 11.3% | 2.5% | ||
| Q1 24 | 12.1% | 4.6% |
每股收益（稀释后）CRUSDIOD
| Q4 25 | $2.66 | $0.23 | ||
| Q3 25 | $2.48 | $0.31 | ||
| Q2 25 | $1.14 | $0.99 | ||
| Q1 25 | $1.30 | $-0.10 | ||
| Q4 24 | $2.11 | $0.18 | ||
| Q3 24 | $1.83 | $0.30 | ||
| Q2 24 | $0.76 | $0.17 | ||
| Q1 24 | $0.78 | $0.30 |
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 | $778.1M | $377.0M |
| 总债务越低越好 | — | $25.7M |
| 股东权益账面价值 | $2.1B | $1.9B |
| 总资产 | $2.5B | $2.4B |
| 负债/权益比越低杠杆越低 | — | 0.01× |
8季度趋势，按日历期对齐
现金及短期投资CRUSDIOD
| Q4 25 | $778.1M | $377.0M | ||
| Q3 25 | $593.5M | $386.4M | ||
| Q2 25 | $548.9M | $327.3M | ||
| Q1 25 | $539.6M | $343.9M | ||
| Q4 24 | $526.4M | $316.1M | ||
| Q3 24 | $445.8M | $319.3M | ||
| Q2 24 | $491.4M | $273.9M | ||
| Q1 24 | $502.8M | $276.0M |
总债务CRUSDIOD
| Q4 25 | — | $25.7M | ||
| Q3 25 | — | $24.9M | ||
| Q2 25 | — | $26.4M | ||
| Q1 25 | — | $20.5M | ||
| Q4 24 | — | $20.7M | ||
| Q3 24 | — | $22.2M | ||
| Q2 24 | — | $20.3M | ||
| Q1 24 | — | $20.9M |
股东权益CRUSDIOD
| Q4 25 | $2.1B | $1.9B | ||
| Q3 25 | $2.0B | $1.9B | ||
| Q2 25 | $1.9B | $1.9B | ||
| Q1 25 | $1.9B | $1.8B | ||
| Q4 24 | $2.0B | $1.8B | ||
| Q3 24 | $1.9B | $1.8B | ||
| Q2 24 | $1.8B | $1.8B | ||
| Q1 24 | $1.8B | $1.7B |
总资产CRUSDIOD
| Q4 25 | $2.5B | $2.4B | ||
| Q3 25 | $2.4B | $2.5B | ||
| Q2 25 | $2.3B | $2.5B | ||
| Q1 25 | $2.3B | $2.4B | ||
| Q4 24 | $2.4B | $2.4B | ||
| Q3 24 | $2.4B | $2.4B | ||
| Q2 24 | $2.3B | $2.4B | ||
| Q1 24 | $2.2B | $2.4B |
负债/权益比CRUSDIOD
| Q4 25 | — | 0.01× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.01× | ||
| Q1 25 | — | 0.01× | ||
| Q4 24 | — | 0.01× | ||
| Q3 24 | — | 0.01× | ||
| Q2 24 | — | 0.01× | ||
| Q1 24 | — | 0.01× |
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 | $290.8M | $38.1M |
| 自由现金流经营现金流 - 资本支出 | $285.7M | $12.4M |
| 自由现金流率自由现金流/营收 | 49.2% | 3.2% |
| 资本支出强度资本支出/营收 | 0.9% | 6.6% |
| 现金转化率经营现金流/净利润 | 2.07× | 3.74× |
| 过去12个月自由现金流最近4个季度 | $614.5M | $137.2M |
8季度趋势，按日历期对齐
经营现金流CRUSDIOD
| Q4 25 | $290.8M | $38.1M | ||
| Q3 25 | $92.2M | $79.1M | ||
| Q2 25 | $116.1M | $41.5M | ||
| Q1 25 | $130.4M | $56.7M | ||
| Q4 24 | $218.6M | $81.8M | ||
| Q3 24 | $8.2M | $54.4M | ||
| Q2 24 | $87.2M | $14.4M | ||
| Q1 24 | $170.5M | $-31.1M |
自由现金流CRUSDIOD
| Q4 25 | $285.7M | $12.4M | ||
| Q3 25 | $88.3M | $62.8M | ||
| Q2 25 | $113.5M | $21.1M | ||
| Q1 25 | $127.0M | $40.8M | ||
| Q4 24 | $211.9M | $62.1M | ||
| Q3 24 | $5.6M | $39.4M | ||
| Q2 24 | $77.2M | $-3.5M | ||
| Q1 24 | $163.5M | $-51.5M |
自由现金流率CRUSDIOD
| Q4 25 | 49.2% | 3.2% | ||
| Q3 25 | 15.7% | 16.0% | ||
| Q2 25 | 27.9% | 5.8% | ||
| Q1 25 | 29.9% | 12.3% | ||
| Q4 24 | 38.1% | 18.3% | ||
| Q3 24 | 1.0% | 11.2% | ||
| Q2 24 | 20.6% | -1.1% | ||
| Q1 24 | 44.0% | -17.1% |
资本支出强度CRUSDIOD
| Q4 25 | 0.9% | 6.6% | ||
| Q3 25 | 0.7% | 4.2% | ||
| Q2 25 | 0.6% | 5.6% | ||
| Q1 25 | 0.8% | 4.8% | ||
| Q4 24 | 1.2% | 5.8% | ||
| Q3 24 | 0.5% | 4.3% | ||
| Q2 24 | 2.7% | 5.6% | ||
| Q1 24 | 1.9% | 6.7% |
现金转化率CRUSDIOD
| Q4 25 | 2.07× | 3.74× | ||
| Q3 25 | 0.70× | 5.54× | ||
| Q2 25 | 1.91× | 0.90× | ||
| Q1 25 | 1.83× | — | ||
| Q4 24 | 1.88× | 9.93× | ||
| Q3 24 | 0.08× | 3.95× | ||
| Q2 24 | 2.07× | 1.80× | ||
| Q1 24 | 3.80× | -2.22× |
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
CRUS
| Audio Products Segment | $344.5M | 59% |
| High Performance Mixed Signal Products | $236.2M | 41% |
DIOD
| Distributor | $253.1M | 65% |
| Direct Sales | $138.5M | 35% |
