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雪佛龙（CVX）与Meta Platforms（META）财务数据对比。点击上方公司名可切换其他公司
Meta Platforms的季度营收约是雪佛龙的1.3倍（$59.9B vs $45.8B），Meta Platforms净利率更高（38.0% vs 6.0%，领先32.0%），Meta Platforms同比增速更快（23.8% vs -5.3%），Meta Platforms自由现金流更多（$14.8B vs $5.5B），过去两年Meta Platforms的营收复合增速更高（28.2% vs -0.9%）
雪佛龙是美国知名跨国能源企业，主营业务为石油和天然气相关业务，是标准石油拆分后的第二大直系子公司，前身为加利福尼亚标准石油公司，目前业务布局覆盖全球超过180个国家，在全球能源市场占据重要地位。
Meta Platforms是总部位于美国加利福尼亚州门洛帕克的跨国科技巨头，属于全球头部科技企业阵营。旗下运营Facebook、Instagram、WhatsApp、Messenger、Threads等多款知名社交媒体及通讯服务，同时开展自有及第三方站点广告业务，2023年广告收入占其总营收的97.8%。
CVX vs META — 直观对比
营收规模更大
META
是对方的1.3倍
$45.8B
营收增速更快
META
高出29.1%
-5.3%
净利率更高
META
高出32.0%
6.0%
自由现金流更多
META
多$9.3B
$5.5B
两年增速更快
META
近两年复合增速
-0.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $45.8B | $59.9B |
| 净利润 | $2.8B | $22.8B |
| 毛利率 | 44.6% | 81.8% |
| 营业利润率 | 10.0% | 41.3% |
| 净利率 | 6.0% | 38.0% |
| 营收同比 | -5.3% | 23.8% |
| 净利润同比 | -14.5% | 9.3% |
| 每股收益（稀释后） | $1.36 | $8.87 |
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CVXMETA
| Q4 25 | $45.8B | $59.9B | ||
| Q3 25 | $48.2B | $51.2B | ||
| Q2 25 | $44.4B | $47.5B | ||
| Q1 25 | $46.1B | $42.3B | ||
| Q4 24 | $48.3B | $48.4B | ||
| Q3 24 | $48.9B | $40.6B | ||
| Q2 24 | $49.6B | $39.1B | ||
| Q1 24 | $46.6B | $36.5B |
净利润CVXMETA
| Q4 25 | $2.8B | $22.8B | ||
| Q3 25 | $3.5B | $2.7B | ||
| Q2 25 | $2.5B | $18.3B | ||
| Q1 25 | $3.5B | $16.6B | ||
| Q4 24 | $3.2B | $20.8B | ||
| Q3 24 | $4.5B | $15.7B | ||
| Q2 24 | $4.4B | $13.5B | ||
| Q1 24 | $5.5B | $12.4B |
毛利率CVXMETA
| Q4 25 | 44.6% | 81.8% | ||
| Q3 25 | 43.1% | 82.0% | ||
| Q2 25 | 39.5% | 82.1% | ||
| Q1 25 | 37.9% | 82.1% | ||
| Q4 24 | 37.6% | 81.7% | ||
| Q3 24 | 37.8% | 81.8% | ||
| Q2 24 | 37.7% | 81.3% | ||
| Q1 24 | 40.4% | 81.8% |
营业利润率CVXMETA
| Q4 25 | 10.0% | 41.3% | ||
| Q3 25 | 11.2% | 40.1% | ||
| Q2 25 | 9.3% | 43.0% | ||
| Q1 25 | 12.1% | 41.5% | ||
| Q4 24 | 12.5% | 48.3% | ||
| Q3 24 | 13.3% | 42.7% | ||
| Q2 24 | 14.2% | 38.0% | ||
| Q1 24 | 17.0% | 37.9% |
净利率CVXMETA
| Q4 25 | 6.0% | 38.0% | ||
| Q3 25 | 7.3% | 5.3% | ||
| Q2 25 | 5.6% | 38.6% | ||
| Q1 25 | 7.6% | 39.3% | ||
| Q4 24 | 6.7% | 43.1% | ||
| Q3 24 | 9.2% | 38.7% | ||
| Q2 24 | 8.9% | 34.5% | ||
| Q1 24 | 11.8% | 33.9% |
每股收益（稀释后）CVXMETA
| Q4 25 | $1.36 | $8.87 | ||
| Q3 25 | $1.82 | $1.05 | ||
| Q2 25 | $1.45 | $7.14 | ||
| Q1 25 | $2.00 | $6.43 | ||
| Q4 24 | $1.84 | $7.96 | ||
| Q3 24 | $2.48 | $6.03 | ||
| Q2 24 | $2.43 | $5.16 | ||
| Q1 24 | $2.97 | $4.71 |
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 | — | $81.6B |
| 总债务越低越好 | $39.8B | $58.7B |
| 股东权益账面价值 | $186.4B | $217.2B |
| 总资产 | $324.0B | $366.0B |
| 负债/权益比越低杠杆越低 | 0.21× | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资CVXMETA
| Q4 25 | — | $81.6B | ||
| Q3 25 | — | $44.4B | ||
| Q2 25 | — | $47.1B | ||
| Q1 25 | — | $70.2B | ||
| Q4 24 | — | $77.8B | ||
| Q3 24 | — | $70.9B | ||
| Q2 24 | $4.0B | $58.1B | ||
| Q1 24 | $6.3B | $58.1B |
总债务CVXMETA
| Q4 25 | $39.8B | $58.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $20.1B | $28.8B | ||
| Q3 24 | — | $28.8B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CVXMETA
| Q4 25 | $186.4B | $217.2B | ||
| Q3 25 | $189.8B | $194.1B | ||
| Q2 25 | $146.4B | $195.1B | ||
| Q1 25 | $149.2B | $185.0B | ||
| Q4 24 | $152.3B | $182.6B | ||
| Q3 24 | $156.2B | $164.5B | ||
| Q2 24 | $159.2B | $156.8B | ||
| Q1 24 | $160.6B | $149.5B |
总资产CVXMETA
| Q4 25 | $324.0B | $366.0B | ||
| Q3 25 | $326.5B | $303.8B | ||
| Q2 25 | $250.8B | $294.7B | ||
| Q1 25 | $256.4B | $280.2B | ||
| Q4 24 | $256.9B | $276.1B | ||
| Q3 24 | $259.2B | $256.4B | ||
| Q2 24 | $260.6B | $230.2B | ||
| Q1 24 | $261.7B | $222.8B |
负债/权益比CVXMETA
| Q4 25 | 0.21× | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.13× | 0.16× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $10.8B | $36.2B |
| 自由现金流经营现金流 - 资本支出 | $5.5B | $14.8B |
| 自由现金流率自由现金流/营收 | 12.1% | 24.8% |
| 资本支出强度资本支出/营收 | 11.5% | 35.7% |
| 现金转化率经营现金流/净利润 | 3.89× | 1.59× |
| 过去12个月自由现金流最近4个季度 | $16.6B | $46.1B |
8季度趋势，按日历期对齐
经营现金流CVXMETA
| Q4 25 | $10.8B | $36.2B | ||
| Q3 25 | $9.4B | $30.0B | ||
| Q2 25 | $8.6B | $25.6B | ||
| Q1 25 | $5.2B | $24.0B | ||
| Q4 24 | $8.7B | $28.0B | ||
| Q3 24 | $9.7B | $24.7B | ||
| Q2 24 | $6.3B | $19.4B | ||
| Q1 24 | $6.8B | $19.2B |
自由现金流CVXMETA
| Q4 25 | $5.5B | $14.8B | ||
| Q3 25 | $4.9B | $11.2B | ||
| Q2 25 | $4.9B | $9.0B | ||
| Q1 25 | $1.3B | $11.1B | ||
| Q4 24 | $4.4B | $13.6B | ||
| Q3 24 | $5.6B | $16.5B | ||
| Q2 24 | $2.3B | $11.2B | ||
| Q1 24 | $2.7B | $12.8B |
自由现金流率CVXMETA
| Q4 25 | 12.1% | 24.8% | ||
| Q3 25 | 10.3% | 21.8% | ||
| Q2 25 | 11.0% | 19.0% | ||
| Q1 25 | 2.7% | 26.2% | ||
| Q4 24 | 9.0% | 28.0% | ||
| Q3 24 | 11.5% | 40.6% | ||
| Q2 24 | 4.7% | 28.7% | ||
| Q1 24 | 5.9% | 35.2% |
资本支出强度CVXMETA
| Q4 25 | 11.5% | 35.7% | ||
| Q3 25 | 9.2% | 36.7% | ||
| Q2 25 | 8.4% | 34.8% | ||
| Q1 25 | 8.5% | 30.6% | ||
| Q4 24 | 9.0% | 29.8% | ||
| Q3 24 | 8.3% | 20.3% | ||
| Q2 24 | 8.0% | 20.9% | ||
| Q1 24 | 8.8% | 17.6% |
现金转化率CVXMETA
| Q4 25 | 3.89× | 1.59× | ||
| Q3 25 | 2.65× | 11.07× | ||
| Q2 25 | 3.44× | 1.39× | ||
| Q1 25 | 1.48× | 1.44× | ||
| Q4 24 | 2.68× | 1.34× | ||
| Q3 24 | 2.16× | 1.58× | ||
| Q2 24 | 1.42× | 1.44× | ||
| Q1 24 | 1.24× | 1.56× |
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
CVX
| Other | $17.5B | 38% |
| Downstream Segment | $16.8B | 37% |
| Upstream Segment | $11.5B | 25% |
META
| Advertising | $58.1B | 97% |
| Reality Labs | $955.0M | 2% |
| Service Other | $801.0M | 1% |
