vs
美国艺电（EA）与佳明（GRMN）财务数据对比。点击上方公司名可切换其他公司
佳明的季度营收约是美国艺电的1.1倍（$2.1B vs $1.9B），佳明净利率更高（24.9% vs 4.6%，领先20.3%），佳明同比增速更快（16.6% vs 1.0%），过去两年佳明的营收复合增速更高（24.0% vs 3.4%）
美国艺电（EA）是总部位于美国加利福尼亚州雷德伍德城的电子游戏企业，1982年5月由前苹果员工特里普·霍金斯创立。作为早期家用电脑游戏行业的先驱，公司将旗下游戏设计师与程序员称作“软件艺术家”，是全球知名的游戏厂商。
佳明（Garmin）是总部位于美国堪萨斯州奥拉西的跨国科技企业，专注于设计、研发、生产及销售GPS功能产品，以及导航、通讯、传感类信息产品，业务覆盖汽车、航空、航海、户外、运动健身等多个领域。
EA vs GRMN — 直观对比
营收规模更大
GRMN
是对方的1.1倍
$1.9B
营收增速更快
GRMN
高出15.6%
1.0%
净利率更高
GRMN
高出20.3%
4.6%
两年增速更快
GRMN
近两年复合增速
3.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.1B |
| 净利润 | $88.0M | $528.7M |
| 毛利率 | 73.8% | 59.2% |
| 营业利润率 | 6.7% | 28.9% |
| 净利率 | 4.6% | 24.9% |
| 营收同比 | 1.0% | 16.6% |
| 净利润同比 | -70.0% | 21.3% |
| 每股收益（稀释后） | $0.35 | $2.72 |
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EAGRMN
| Q4 25 | $1.9B | $2.1B | ||
| Q3 25 | $1.8B | $1.8B | ||
| Q2 25 | $1.7B | $1.8B | ||
| Q1 25 | $1.9B | $1.5B | ||
| Q4 24 | $1.9B | $1.8B | ||
| Q3 24 | $2.0B | $1.6B | ||
| Q2 24 | $1.7B | $1.5B | ||
| Q1 24 | $1.8B | $1.4B |
净利润EAGRMN
| Q4 25 | $88.0M | $528.7M | ||
| Q3 25 | $137.0M | $401.6M | ||
| Q2 25 | $201.0M | $400.8M | ||
| Q1 25 | $254.0M | $332.8M | ||
| Q4 24 | $293.0M | $435.7M | ||
| Q3 24 | $294.0M | $399.1M | ||
| Q2 24 | $280.0M | $300.6M | ||
| Q1 24 | $182.0M | $276.0M |
毛利率EAGRMN
| Q4 25 | 73.8% | 59.2% | ||
| Q3 25 | 75.9% | 59.1% | ||
| Q2 25 | 83.3% | 58.8% | ||
| Q1 25 | 80.6% | 57.6% | ||
| Q4 24 | 75.8% | 59.3% | ||
| Q3 24 | 77.5% | 60.0% | ||
| Q2 24 | 84.2% | 57.3% | ||
| Q1 24 | 79.9% | 58.1% |
营业利润率EAGRMN
| Q4 25 | 6.7% | 28.9% | ||
| Q3 25 | 10.9% | 25.8% | ||
| Q2 25 | 16.2% | 26.0% | ||
| Q1 25 | 20.8% | 21.7% | ||
| Q4 24 | 20.0% | 28.3% | ||
| Q3 24 | 19.0% | 27.6% | ||
| Q2 24 | 21.9% | 22.7% | ||
| Q1 24 | 13.2% | 21.6% |
净利率EAGRMN
| Q4 25 | 4.6% | 24.9% | ||
| Q3 25 | 7.4% | 22.7% | ||
| Q2 25 | 12.0% | 22.1% | ||
| Q1 25 | 13.4% | 21.7% | ||
| Q4 24 | 15.6% | 23.9% | ||
| Q3 24 | 14.5% | 25.2% | ||
| Q2 24 | 16.9% | 20.0% | ||
| Q1 24 | 10.2% | 20.0% |
每股收益（稀释后）EAGRMN
| Q4 25 | $0.35 | $2.72 | ||
| Q3 25 | $0.54 | $2.08 | ||
| Q2 25 | $0.79 | $2.07 | ||
| Q1 25 | $0.99 | $1.72 | ||
| Q4 24 | $1.11 | $2.24 | ||
| Q3 24 | $1.11 | $2.07 | ||
| Q2 24 | $1.04 | $1.56 | ||
| Q1 24 | $0.67 | $1.43 |
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 | $2.8B | $2.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.2B | $9.0B |
| 总资产 | $13.3B | $11.0B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资EAGRMN
| Q4 25 | $2.8B | $2.3B | ||
| Q3 25 | $1.1B | $2.1B | ||
| Q2 25 | $1.5B | $2.1B | ||
| Q1 25 | $2.1B | $2.2B | ||
| Q4 24 | $2.8B | $2.1B | ||
| Q3 24 | $2.2B | $2.0B | ||
| Q2 24 | $2.4B | $1.9B | ||
| Q1 24 | $2.9B | $1.9B |
股东权益EAGRMN
| Q4 25 | $6.2B | $9.0B | ||
| Q3 25 | $6.0B | $8.5B | ||
| Q2 25 | $6.1B | $8.1B | ||
| Q1 25 | $6.4B | $8.2B | ||
| Q4 24 | $7.4B | $7.8B | ||
| Q3 24 | $7.4B | $7.5B | ||
| Q2 24 | $7.4B | $7.0B | ||
| Q1 24 | $7.5B | $7.2B |
总资产EAGRMN
| Q4 25 | $13.3B | $11.0B | ||
| Q3 25 | $11.9B | $10.5B | ||
| Q2 25 | $11.7B | $10.3B | ||
| Q1 25 | $12.4B | $9.8B | ||
| Q4 24 | $13.5B | $9.6B | ||
| Q3 24 | $13.1B | $9.3B | ||
| Q2 24 | $12.7B | $8.9B | ||
| Q1 24 | $13.4B | $8.6B |
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 | $553.8M |
| 自由现金流经营现金流 - 资本支出 | — | $429.6M |
| 自由现金流率自由现金流/营收 | — | 20.2% |
| 资本支出强度资本支出/营收 | — | 5.8% |
| 现金转化率经营现金流/净利润 | 20.75× | 1.05× |
| 过去12个月自由现金流最近4个季度 | — | $1.4B |
8季度趋势，按日历期对齐
经营现金流EAGRMN
| Q4 25 | $1.8B | $553.8M | ||
| Q3 25 | $130.0M | $485.6M | ||
| Q2 25 | $17.0M | $173.2M | ||
| Q1 25 | $549.0M | $420.8M | ||
| Q4 24 | $1.2B | $483.9M | ||
| Q3 24 | $234.0M | $258.0M | ||
| Q2 24 | $120.0M | $255.3M | ||
| Q1 24 | $580.0M | $435.3M |
自由现金流EAGRMN
| Q4 25 | — | $429.6M | ||
| Q3 25 | — | $425.1M | ||
| Q2 25 | — | $127.5M | ||
| Q1 25 | — | $380.7M | ||
| Q4 24 | — | $399.2M | ||
| Q3 24 | — | $219.4M | ||
| Q2 24 | — | $218.2M | ||
| Q1 24 | — | $402.1M |
自由现金流率EAGRMN
| Q4 25 | — | 20.2% | ||
| Q3 25 | — | 24.0% | ||
| Q2 25 | — | 7.0% | ||
| Q1 25 | — | 24.8% | ||
| Q4 24 | — | 21.9% | ||
| Q3 24 | — | 13.8% | ||
| Q2 24 | — | 14.5% | ||
| Q1 24 | — | 29.1% |
资本支出强度EAGRMN
| Q4 25 | — | 5.8% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 4.6% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 2.5% | ||
| Q1 24 | — | 2.4% |
现金转化率EAGRMN
| Q4 25 | 20.75× | 1.05× | ||
| Q3 25 | 0.95× | 1.21× | ||
| Q2 25 | 0.08× | 0.43× | ||
| Q1 25 | 2.16× | 1.26× | ||
| Q4 24 | 4.01× | 1.11× | ||
| Q3 24 | 0.80× | 0.65× | ||
| Q2 24 | 0.43× | 0.85× | ||
| Q1 24 | 3.19× | 1.58× |
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
EA
| Live Services And Other Net Revenue | $1.3B | 67% |
| PC And Other Net Revenue | $465.0M | 24% |
| Packaged Goods Net Revenue | $86.0M | 5% |
| Other | $56.0M | 3% |
| Estimated Service Offering Period | $25.0M | 1% |
GRMN
| Fitness Segment | $765.8M | 36% |
| Outdoor Segment | $627.6M | 30% |
| Marine Segment | $296.9M | 14% |
| Aviation Segment | $274.2M | 13% |
| Auto Oem Segment | $160.4M | 8% |
