vs
HF Sinclair Corp（DINO）与高通（QCOM）财务数据对比。点击上方公司名可切换其他公司
高通的季度营收约是HF Sinclair Corp的1.9倍（$12.3B vs $6.5B），高通净利率更高（24.5% vs -0.4%，领先25.0%），高通同比增速更快（5.0% vs -0.6%），高通自由现金流更多（$4.4B vs $-123.0M），过去两年高通的营收复合增速更高（14.2% vs -4.1%）
HF Sinclair是总部位于美国得克萨斯州达拉斯的能源企业，主要从事汽油、柴油、航空燃油、可再生柴油、特种润滑油、特种化学品、特种改性沥青等多类能源化工产品的生产与销售。
高通是总部位于美国加利福尼亚州圣迭戈、在特拉华州注册的跨国企业，主营无线技术相关的半导体、软件及服务业务，持有5G、4G、CDMA2000、TD-SCDMA、WCDMA等移动通信标准的核心专利，是全球无线通信领域的核心供应商。
DINO vs QCOM — 直观对比
营收规模更大
QCOM
是对方的1.9倍
$6.5B
营收增速更快
QCOM
高出5.5%
-0.6%
净利率更高
QCOM
高出25.0%
-0.4%
自由现金流更多
QCOM
多$4.5B
$-123.0M
两年增速更快
QCOM
近两年复合增速
-4.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.5B | $12.3B |
| 净利润 | $-28.0M | $3.0B |
| 毛利率 | — | 54.6% |
| 营业利润率 | 0.1% | 27.5% |
| 净利率 | -0.4% | 24.5% |
| 营收同比 | -0.6% | 5.0% |
| 净利润同比 | 86.9% | -5.5% |
| 每股收益（稀释后） | $-0.15 | $2.78 |
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DINOQCOM
| Q4 25 | $6.5B | $12.3B | ||
| Q3 25 | $7.3B | $11.3B | ||
| Q2 25 | $6.8B | $10.4B | ||
| Q1 25 | $6.4B | $11.0B | ||
| Q4 24 | $6.5B | $11.7B | ||
| Q3 24 | $7.2B | $10.2B | ||
| Q2 24 | $7.8B | $9.4B | ||
| Q1 24 | $7.0B | $9.4B |
净利润DINOQCOM
| Q4 25 | $-28.0M | $3.0B | ||
| Q3 25 | $403.0M | $-3.1B | ||
| Q2 25 | $208.0M | $2.7B | ||
| Q1 25 | $-4.0M | $2.8B | ||
| Q4 24 | $-213.5M | $3.2B | ||
| Q3 24 | $-75.9M | $2.9B | ||
| Q2 24 | $151.8M | $2.1B | ||
| Q1 24 | $314.7M | $2.3B |
毛利率DINOQCOM
| Q4 25 | — | 54.6% | ||
| Q3 25 | — | 55.3% | ||
| Q2 25 | — | 55.6% | ||
| Q1 25 | — | 55.0% | ||
| Q4 24 | — | 55.8% | ||
| Q3 24 | — | 56.4% | ||
| Q2 24 | — | 55.6% | ||
| Q1 24 | 15.7% | 56.3% |
营业利润率DINOQCOM
| Q4 25 | 0.1% | 27.5% | ||
| Q3 25 | 7.8% | 25.9% | ||
| Q2 25 | 4.1% | 26.6% | ||
| Q1 25 | 1.3% | 28.4% | ||
| Q4 24 | -3.5% | 30.5% | ||
| Q3 24 | -1.7% | 25.2% | ||
| Q2 24 | 2.5% | 23.6% | ||
| Q1 24 | 5.8% | 24.9% |
净利率DINOQCOM
| Q4 25 | -0.4% | 24.5% | ||
| Q3 25 | 5.6% | -27.7% | ||
| Q2 25 | 3.1% | 25.7% | ||
| Q1 25 | -0.1% | 25.6% | ||
| Q4 24 | -3.3% | 27.3% | ||
| Q3 24 | -1.1% | 28.5% | ||
| Q2 24 | 1.9% | 22.7% | ||
| Q1 24 | 4.5% | 24.8% |
每股收益（稀释后）DINOQCOM
| Q4 25 | $-0.15 | $2.78 | ||
| Q3 25 | $2.15 | $-2.77 | ||
| Q2 25 | $1.10 | $2.43 | ||
| Q1 25 | $-0.02 | $2.52 | ||
| Q4 24 | $-1.05 | $2.83 | ||
| Q3 24 | $-0.40 | $2.57 | ||
| Q2 24 | $0.79 | $1.88 | ||
| Q1 24 | $1.57 | $2.06 |
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 | $978.0M | $11.8B |
| 总债务越低越好 | $2.8B | $14.8B |
| 股东权益账面价值 | $9.2B | $23.1B |
| 总资产 | $16.5B | $53.0B |
| 负债/权益比越低杠杆越低 | 0.30× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资DINOQCOM
| Q4 25 | $978.0M | $11.8B | ||
| Q3 25 | $1.5B | $10.2B | ||
| Q2 25 | $874.0M | $10.0B | ||
| Q1 25 | $547.0M | $13.8B | ||
| Q4 24 | $800.0M | $14.3B | ||
| Q3 24 | $1.2B | $13.3B | ||
| Q2 24 | $866.3M | $13.0B | ||
| Q1 24 | $1.2B | $13.9B |
总债务DINOQCOM
| Q4 25 | $2.8B | $14.8B | ||
| Q3 25 | $2.8B | $14.8B | ||
| Q2 25 | $2.7B | $14.8B | ||
| Q1 25 | $2.7B | $13.3B | ||
| Q4 24 | $2.6B | $13.2B | ||
| Q3 24 | — | $13.3B | ||
| Q2 24 | — | $13.2B | ||
| Q1 24 | — | $14.5B |
股东权益DINOQCOM
| Q4 25 | $9.2B | $23.1B | ||
| Q3 25 | $9.4B | $21.2B | ||
| Q2 25 | $9.3B | $27.2B | ||
| Q1 25 | $9.2B | $27.7B | ||
| Q4 24 | $9.3B | $26.9B | ||
| Q3 24 | $9.6B | $26.3B | ||
| Q2 24 | $9.9B | $24.7B | ||
| Q1 24 | $10.2B | $24.5B |
总资产DINOQCOM
| Q4 25 | $16.5B | $53.0B | ||
| Q3 25 | $17.3B | $50.1B | ||
| Q2 25 | $16.8B | $54.9B | ||
| Q1 25 | $16.5B | $55.4B | ||
| Q4 24 | $16.6B | $55.6B | ||
| Q3 24 | $16.9B | $55.2B | ||
| Q2 24 | $17.4B | $52.7B | ||
| Q1 24 | $17.9B | $53.2B |
负债/权益比DINOQCOM
| Q4 25 | 0.30× | 0.64× | ||
| Q3 25 | 0.29× | 0.70× | ||
| Q2 25 | 0.29× | 0.54× | ||
| Q1 25 | 0.29× | 0.48× | ||
| Q4 24 | 0.29× | 0.49× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.59× |
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 | $8.0M | $5.0B |
| 自由现金流经营现金流 - 资本支出 | $-123.0M | $4.4B |
| 自由现金流率自由现金流/营收 | -1.9% | 36.0% |
| 资本支出强度资本支出/营收 | 2.0% | 4.5% |
| 现金转化率经营现金流/净利润 | — | 1.65× |
| 过去12个月自由现金流最近4个季度 | $866.0M | $12.9B |
8季度趋势，按日历期对齐
经营现金流DINOQCOM
| Q4 25 | $8.0M | $5.0B | ||
| Q3 25 | $809.0M | $4.0B | ||
| Q2 25 | $587.0M | $2.9B | ||
| Q1 25 | $-89.0M | $2.6B | ||
| Q4 24 | $-140.4M | $4.6B | ||
| Q3 24 | $707.6M | $2.6B | ||
| Q2 24 | $225.9M | $3.1B | ||
| Q1 24 | $316.9M | $3.6B |
自由现金流DINOQCOM
| Q4 25 | $-123.0M | $4.4B | ||
| Q3 25 | $688.0M | $3.6B | ||
| Q2 25 | $476.0M | $2.6B | ||
| Q1 25 | $-175.0M | $2.3B | ||
| Q4 24 | $-313.5M | $4.3B | ||
| Q3 24 | $584.0M | $2.4B | ||
| Q2 24 | $141.7M | $2.7B | ||
| Q1 24 | $227.8M | $3.4B |
自由现金流率DINOQCOM
| Q4 25 | -1.9% | 36.0% | ||
| Q3 25 | 9.5% | 31.8% | ||
| Q2 25 | 7.0% | 24.9% | ||
| Q1 25 | -2.7% | 21.3% | ||
| Q4 24 | -4.8% | 36.9% | ||
| Q3 24 | 8.1% | 23.3% | ||
| Q2 24 | 1.8% | 28.4% | ||
| Q1 24 | 3.2% | 35.9% |
资本支出强度DINOQCOM
| Q4 25 | 2.0% | 4.5% | ||
| Q3 25 | 1.7% | 3.6% | ||
| Q2 25 | 1.6% | 2.8% | ||
| Q1 25 | 1.4% | 1.9% | ||
| Q4 24 | 2.7% | 2.4% | ||
| Q3 24 | 1.7% | 2.5% | ||
| Q2 24 | 1.1% | 4.1% | ||
| Q1 24 | 1.3% | 2.0% |
现金转化率DINOQCOM
| Q4 25 | — | 1.65× | ||
| Q3 25 | 2.01× | — | ||
| Q2 25 | 2.82× | 1.08× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | 0.91× | ||
| Q2 24 | 1.49× | 1.43× | ||
| Q1 24 | 1.01× | 1.53× |
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
DINO
| Transportation Fuels | $5.0B | 77% |
| Lubricants And Specialties Segment | $586.0M | 9% |
| Lubricants And Specialty Products | $531.0M | 8% |
| Crude Oil | $213.0M | 3% |
| Renewables Segment | $163.0M | 3% |
| Midstream Segment | $35.0M | 1% |
| Transportation And Logistic Services | $34.0M | 1% |
QCOM
| Handsets | $7.8B | 64% |
| Io T | $1.7B | 14% |
| Qtl | $1.6B | 13% |
| Automotive | $1.1B | 9% |
