vs
凌云逻辑（CRUS）与RBC Bearings INC（RBC）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RBC Bearings INC的1.3倍（$580.6M vs $461.6M），凌云逻辑净利率更高（24.2% vs 14.6%，领先9.6%），RBC Bearings INC同比增速更快（17.0% vs 4.5%），凌云逻辑自由现金流更多（$285.7M vs $99.1M），过去两年凌云逻辑的营收复合增速更高（25.0% vs 5.6%）
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。
该文本实际介绍的并非RBC Bearings，而是美国多佛公司。多佛是一家工业产品综合制造商，1955年成立，总部位于伊利诺伊州当纳斯格罗夫。2021年其业务分为五大板块：工程产品、清洁能源与加注、成像与识别、泵与工艺解决方案、气候与可持续技术，是标普500成分股，在纽约证券交易所上市。
CRUS vs RBC — 直观对比
营收规模更大
CRUS
是对方的1.3倍
$461.6M
营收增速更快
RBC
高出12.6%
4.5%
净利率更高
CRUS
高出9.6%
14.6%
自由现金流更多
CRUS
多$186.6M
$99.1M
两年增速更快
CRUS
近两年复合增速
5.6%
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $580.6M | $461.6M |
| 净利润 | $140.3M | $67.4M |
| 毛利率 | 53.1% | 44.3% |
| 营业利润率 | 26.3% | 22.3% |
| 净利率 | 24.2% | 14.6% |
| 营收同比 | 4.5% | 17.0% |
| 净利润同比 | 21.0% | 16.4% |
| 每股收益（稀释后） | $2.66 | $2.13 |
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CRUSRBC
| Q4 25 | $580.6M | $461.6M | ||
| Q3 25 | $561.0M | $455.3M | ||
| Q2 25 | $407.3M | $436.0M | ||
| Q1 25 | $424.5M | $437.7M | ||
| Q4 24 | $555.7M | $394.4M | ||
| Q3 24 | $541.9M | $397.9M | ||
| Q2 24 | $374.0M | $406.3M | ||
| Q1 24 | $371.8M | $413.7M |
净利润CRUSRBC
| Q4 25 | $140.3M | $67.4M | ||
| Q3 25 | $131.6M | $60.0M | ||
| Q2 25 | $60.7M | $68.5M | ||
| Q1 25 | $71.3M | $72.7M | ||
| Q4 24 | $116.0M | $57.9M | ||
| Q3 24 | $102.1M | $54.2M | ||
| Q2 24 | $42.1M | $61.4M | ||
| Q1 24 | $44.8M | — |
毛利率CRUSRBC
| Q4 25 | 53.1% | 44.3% | ||
| Q3 25 | 52.5% | 44.1% | ||
| Q2 25 | 52.6% | 44.8% | ||
| Q1 25 | 53.4% | 44.2% | ||
| Q4 24 | 53.6% | 44.3% | ||
| Q3 24 | 52.2% | 43.7% | ||
| Q2 24 | 50.5% | 45.3% | ||
| Q1 24 | 51.8% | 43.1% |
营业利润率CRUSRBC
| Q4 25 | 26.3% | 22.3% | ||
| Q3 25 | 25.8% | 21.5% | ||
| Q2 25 | 17.8% | 23.2% | ||
| Q1 25 | 20.2% | 23.0% | ||
| Q4 24 | 26.2% | 21.7% | ||
| Q3 24 | 24.3% | 21.6% | ||
| Q2 24 | 12.5% | 24.0% | ||
| Q1 24 | 14.1% | 22.8% |
净利率CRUSRBC
| Q4 25 | 24.2% | 14.6% | ||
| Q3 25 | 23.5% | 13.2% | ||
| Q2 25 | 14.9% | 15.7% | ||
| Q1 25 | 16.8% | 16.6% | ||
| Q4 24 | 20.9% | 14.7% | ||
| Q3 24 | 18.8% | 13.6% | ||
| Q2 24 | 11.3% | 15.1% | ||
| Q1 24 | 12.1% | — |
每股收益（稀释后）CRUSRBC
| Q4 25 | $2.66 | $2.13 | ||
| Q3 25 | $2.48 | $1.90 | ||
| Q2 25 | $1.14 | $2.17 | ||
| Q1 25 | $1.30 | $2.33 | ||
| Q4 24 | $2.11 | $1.82 | ||
| Q3 24 | $1.83 | $1.65 | ||
| Q2 24 | $0.76 | $1.90 | ||
| Q1 24 | $0.78 | $1.92 |
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 | $778.1M | $107.6M |
| 总债务越低越好 | — | $990.2M |
| 股东权益账面价值 | $2.1B | $3.3B |
| 总资产 | $2.5B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资CRUSRBC
| Q4 25 | $778.1M | $107.6M | ||
| Q3 25 | $593.5M | $91.2M | ||
| Q2 25 | $548.9M | $132.9M | ||
| Q1 25 | $539.6M | $36.8M | ||
| Q4 24 | $526.4M | — | ||
| Q3 24 | $445.8M | — | ||
| Q2 24 | $491.4M | $76.8M | ||
| Q1 24 | $502.8M | $63.5M |
总债务CRUSRBC
| Q4 25 | — | $990.2M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $915.6M | ||
| Q1 25 | — | $920.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.2B |
股东权益CRUSRBC
| Q4 25 | $2.1B | $3.3B | ||
| Q3 25 | $2.0B | $3.2B | ||
| Q2 25 | $1.9B | $3.1B | ||
| Q1 25 | $1.9B | $3.0B | ||
| Q4 24 | $2.0B | $2.9B | ||
| Q3 24 | $1.9B | $2.9B | ||
| Q2 24 | $1.8B | $2.8B | ||
| Q1 24 | $1.8B | $2.8B |
总资产CRUSRBC
| Q4 25 | $2.5B | $5.1B | ||
| Q3 25 | $2.4B | $5.1B | ||
| Q2 25 | $2.3B | $4.8B | ||
| Q1 25 | $2.3B | $4.7B | ||
| Q4 24 | $2.4B | $4.7B | ||
| Q3 24 | $2.4B | $4.7B | ||
| Q2 24 | $2.3B | $4.7B | ||
| Q1 24 | $2.2B | $4.7B |
负债/权益比CRUSRBC
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.43× |
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 | $122.1M |
| 自由现金流经营现金流 - 资本支出 | $285.7M | $99.1M |
| 自由现金流率自由现金流/营收 | 49.2% | 21.5% |
| 资本支出强度资本支出/营收 | 0.9% | 5.0% |
| 现金转化率经营现金流/净利润 | 2.07× | 1.81× |
| 过去12个月自由现金流最近4个季度 | $614.5M | — |
8季度趋势，按日历期对齐
经营现金流CRUSRBC
| Q4 25 | $290.8M | $122.1M | ||
| Q3 25 | $92.2M | $88.4M | ||
| Q2 25 | $116.1M | $120.0M | ||
| Q1 25 | $130.4M | — | ||
| Q4 24 | $218.6M | $84.0M | ||
| Q3 24 | $8.2M | — | ||
| Q2 24 | $87.2M | $97.4M | ||
| Q1 24 | $170.5M | — |
自由现金流CRUSRBC
| Q4 25 | $285.7M | $99.1M | ||
| Q3 25 | $88.3M | $71.7M | ||
| Q2 25 | $113.5M | $104.3M | ||
| Q1 25 | $127.0M | — | ||
| Q4 24 | $211.9M | $73.6M | ||
| Q3 24 | $5.6M | — | ||
| Q2 24 | $77.2M | $88.4M | ||
| Q1 24 | $163.5M | — |
自由现金流率CRUSRBC
| Q4 25 | 49.2% | 21.5% | ||
| Q3 25 | 15.7% | 15.7% | ||
| Q2 25 | 27.9% | 23.9% | ||
| Q1 25 | 29.9% | — | ||
| Q4 24 | 38.1% | 18.7% | ||
| Q3 24 | 1.0% | — | ||
| Q2 24 | 20.6% | 21.8% | ||
| Q1 24 | 44.0% | — |
资本支出强度CRUSRBC
| Q4 25 | 0.9% | 5.0% | ||
| Q3 25 | 0.7% | 3.7% | ||
| Q2 25 | 0.6% | 3.6% | ||
| Q1 25 | 0.8% | 3.2% | ||
| Q4 24 | 1.2% | 2.6% | ||
| Q3 24 | 0.5% | 4.1% | ||
| Q2 24 | 2.7% | 2.2% | ||
| Q1 24 | 1.9% | — |
现金转化率CRUSRBC
| Q4 25 | 2.07× | 1.81× | ||
| Q3 25 | 0.70× | 1.47× | ||
| Q2 25 | 1.91× | 1.75× | ||
| Q1 25 | 1.83× | — | ||
| Q4 24 | 1.88× | 1.45× | ||
| Q3 24 | 0.08× | — | ||
| Q2 24 | 2.07× | 1.59× | ||
| Q1 24 | 3.80× | — |
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% |
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
