vs
思科（CSCO）与GE Vernova（GEV）财务数据对比。点击上方公司名可切换其他公司
思科的季度营收约是GE Vernova的1.6倍（$15.3B vs $9.3B），GE Vernova净利率更高（50.9% vs 20.7%，领先30.2%），GE Vernova同比增速更快（16.3% vs 9.7%），GE Vernova自由现金流更多（$4.8B vs $1.5B），过去两年思科的营收复合增速更高（9.9% vs 6.7%）
思科是总部位于美国加利福尼亚州圣何塞的跨国数字通信科技集团，专注于研发、生产及销售网络硬件、软件、通信设备等各类高科技产品，同时提供配套高端技术服务，为全球各领域客户提供可靠的数字化通信相关解决方案。
GE Vernova是总部位于美国马萨诸塞州剑桥市的能源设备制造及服务企业，下设三大核心业务板块：电力板块主营燃气、核电、水电、蒸汽技术的设计、制造与运维；风电板块提供陆上风电机组、海上风电机组及叶片；电气化板块覆盖电网解决方案、电能转换、光储方案及输配电管理相关数字技术。
CSCO vs GEV — 直观对比
营收规模更大
CSCO
是对方的1.6倍
$9.3B
营收增速更快
GEV
高出6.6%
9.7%
净利率更高
GEV
高出30.2%
20.7%
自由现金流更多
GEV
多$3.3B
$1.5B
两年增速更快
CSCO
近两年复合增速
6.7%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $15.3B | $9.3B |
| 净利润 | $3.2B | $4.8B |
| 毛利率 | 65.0% | — |
| 营业利润率 | 24.6% | — |
| 净利率 | 20.7% | 50.9% |
| 营收同比 | 9.7% | 16.3% |
| 净利润同比 | 30.8% | 5.9% |
| 每股收益（稀释后） | $0.80 | $17.44 |
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CSCOGEV
| Q1 26 | $15.3B | $9.3B | ||
| Q4 25 | $14.9B | $11.0B | ||
| Q3 25 | $14.7B | $10.0B | ||
| Q2 25 | $14.1B | $9.1B | ||
| Q1 25 | $14.0B | $8.0B | ||
| Q4 24 | $13.8B | $10.6B | ||
| Q3 24 | $13.6B | $8.9B | ||
| Q2 24 | $12.7B | $8.2B |
净利润CSCOGEV
| Q1 26 | $3.2B | $4.8B | ||
| Q4 25 | $2.9B | $3.7B | ||
| Q3 25 | $2.5B | $452.0M | ||
| Q2 25 | $2.5B | $514.0M | ||
| Q1 25 | $2.4B | $254.0M | ||
| Q4 24 | $2.7B | $484.0M | ||
| Q3 24 | $2.2B | $-96.0M | ||
| Q2 24 | $1.9B | $1.3B |
毛利率CSCOGEV
| Q1 26 | 65.0% | — | ||
| Q4 25 | 65.5% | 21.2% | ||
| Q3 25 | 63.2% | 19.0% | ||
| Q2 25 | 65.6% | 20.3% | ||
| Q1 25 | 65.1% | 18.3% | ||
| Q4 24 | 65.9% | 20.1% | ||
| Q3 24 | 64.4% | 12.4% | ||
| Q2 24 | 65.1% | 20.7% |
营业利润率CSCOGEV
| Q1 26 | 24.6% | — | ||
| Q4 25 | 22.6% | 5.5% | ||
| Q3 25 | 21.0% | 3.7% | ||
| Q2 25 | 22.6% | 4.1% | ||
| Q1 25 | 22.3% | 0.5% | ||
| Q4 24 | 17.0% | 5.6% | ||
| Q3 24 | 19.2% | -4.0% | ||
| Q2 24 | 17.2% | 6.4% |
净利率CSCOGEV
| Q1 26 | 20.7% | 50.9% | ||
| Q4 25 | 19.2% | 33.4% | ||
| Q3 25 | 17.4% | 4.5% | ||
| Q2 25 | 17.6% | 5.6% | ||
| Q1 25 | 17.4% | 3.2% | ||
| Q4 24 | 19.6% | 4.6% | ||
| Q3 24 | 15.8% | -1.1% | ||
| Q2 24 | 14.8% | 15.8% |
每股收益（稀释后）CSCOGEV
| Q1 26 | $0.80 | $17.44 | ||
| Q4 25 | $0.72 | $13.28 | ||
| Q3 25 | $0.64 | $1.64 | ||
| Q2 25 | $0.62 | $1.86 | ||
| Q1 25 | $0.61 | $0.91 | ||
| Q4 24 | $0.68 | $1.75 | ||
| Q3 24 | $0.54 | $-0.35 | ||
| Q2 24 | $0.46 | $4.65 |
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 | $15.8B | — |
| 总债务越低越好 | $24.6B | — |
| 股东权益账面价值 | $47.7B | — |
| 总资产 | $123.4B | — |
| 负债/权益比越低杠杆越低 | 0.52× | — |
8季度趋势，按日历期对齐
现金及短期投资CSCOGEV
| Q1 26 | $15.8B | — | ||
| Q4 25 | $15.7B | — | ||
| Q3 25 | $16.1B | — | ||
| Q2 25 | $15.6B | — | ||
| Q1 25 | $16.9B | — | ||
| Q4 24 | $18.7B | — | ||
| Q3 24 | $17.9B | — | ||
| Q2 24 | $18.8B | — |
总债务CSCOGEV
| Q1 26 | $24.6B | — | ||
| Q4 25 | $24.6B | — | ||
| Q3 25 | $24.6B | — | ||
| Q2 25 | $25.1B | — | ||
| Q1 25 | $20.1B | — | ||
| Q4 24 | $20.1B | — | ||
| Q3 24 | $20.1B | — | ||
| Q2 24 | $20.1B | — |
股东权益CSCOGEV
| Q1 26 | $47.7B | — | ||
| Q4 25 | $46.9B | $11.2B | ||
| Q3 25 | $46.8B | $8.6B | ||
| Q2 25 | $45.9B | $8.9B | ||
| Q1 25 | $45.5B | $8.6B | ||
| Q4 24 | $45.3B | $9.5B | ||
| Q3 24 | $45.5B | $9.5B | ||
| Q2 24 | $45.8B | $9.1B |
总资产CSCOGEV
| Q1 26 | $123.4B | — | ||
| Q4 25 | $121.1B | $63.0B | ||
| Q3 25 | $122.3B | $54.4B | ||
| Q2 25 | $119.8B | $53.1B | ||
| Q1 25 | $121.4B | $51.6B | ||
| Q4 24 | $123.3B | $51.5B | ||
| Q3 24 | $124.4B | $50.9B | ||
| Q2 24 | $123.0B | $48.1B |
负债/权益比CSCOGEV
| Q1 26 | 0.52× | — | ||
| Q4 25 | 0.53× | — | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.55× | — | ||
| Q1 25 | 0.44× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.44× | — | ||
| Q2 24 | 0.44× | — |
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 | $1.8B | — |
| 自由现金流经营现金流 - 资本支出 | $1.5B | $4.8B |
| 自由现金流率自由现金流/营收 | 10.0% | 51.3% |
| 资本支出强度资本支出/营收 | 1.8% | — |
| 现金转化率经营现金流/净利润 | 0.57× | — |
| 过去12个月自由现金流最近4个季度 | $12.2B | $7.5B |
8季度趋势，按日历期对齐
经营现金流CSCOGEV
| Q1 26 | $1.8B | — | ||
| Q4 25 | $3.2B | $2.5B | ||
| Q3 25 | $4.2B | $980.0M | ||
| Q2 25 | $4.1B | $367.0M | ||
| Q1 25 | $2.2B | $1.2B | ||
| Q4 24 | $3.7B | $921.0M | ||
| Q3 24 | $3.7B | $1.1B | ||
| Q2 24 | $4.0B | $979.0M |
自由现金流CSCOGEV
| Q1 26 | $1.5B | $4.8B | ||
| Q4 25 | $2.9B | $1.8B | ||
| Q3 25 | $4.0B | $733.0M | ||
| Q2 25 | $3.8B | $194.0M | ||
| Q1 25 | $2.0B | $975.0M | ||
| Q4 24 | $3.4B | $571.0M | ||
| Q3 24 | $3.5B | $968.0M | ||
| Q2 24 | $3.8B | $822.0M |
自由现金流率CSCOGEV
| Q1 26 | 10.0% | 51.3% | ||
| Q4 25 | 19.4% | 16.5% | ||
| Q3 25 | 27.4% | 7.4% | ||
| Q2 25 | 26.8% | 2.1% | ||
| Q1 25 | 14.5% | 12.1% | ||
| Q4 24 | 24.9% | 5.4% | ||
| Q3 24 | 25.9% | 10.9% | ||
| Q2 24 | 29.9% | 10.0% |
资本支出强度CSCOGEV
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.2% | 6.1% | ||
| Q3 25 | 1.5% | 2.5% | ||
| Q2 25 | 1.8% | 1.9% | ||
| Q1 25 | 1.5% | 2.3% | ||
| Q4 24 | 1.6% | 3.3% | ||
| Q3 24 | 1.5% | 1.8% | ||
| Q2 24 | 1.3% | 1.9% |
现金转化率CSCOGEV
| Q1 26 | 0.57× | — | ||
| Q4 25 | 1.12× | 0.68× | ||
| Q3 25 | 1.66× | 2.17× | ||
| Q2 25 | 1.63× | 0.71× | ||
| Q1 25 | 0.92× | 4.57× | ||
| Q4 24 | 1.35× | 1.90× | ||
| Q3 24 | 1.73× | — | ||
| Q2 24 | 2.11× | 0.76× |
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
CSCO
| Networking | $8.3B | 54% |
| Services | $3.7B | 24% |
| Security | $2.0B | 13% |
| Collaboration | $1.1B | 7% |
| Observability | $277.0M | 2% |
GEV
| Organic revenues | $8.6B | 92% |
| Other | $752.0M | 8% |
