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福特汽车公司（F）与微软（MSFT）财务数据对比。点击上方公司名可切换其他公司
微软的季度营收约是福特汽车公司的1.8倍（$81.3B vs $45.9B），微软净利率更高（47.3% vs -24.1%，领先71.4%），微软同比增速更快（16.7% vs -4.8%），微软自由现金流更多（$5.9B vs $1.1B），过去两年微软的营收复合增速更高（14.6% vs 3.6%）
福特汽车是总部位于美国密歇根州迪尔伯恩的跨国汽车制造商，由亨利·福特于1903年6月16日创立。公司旗下拥有主营乘用车与商用车的福特品牌，以及高端豪华车品牌林肯，在纽约证券交易所上市，由福特家族实际控股。
微软是总部位于美国华盛顿州雷德蒙德的跨国科技集团，1975年成立。凭借Windows等软件推动个人计算机普及并奠定行业影响力，目前业务已覆盖互联网服务、云计算、人工智能、电子游戏等多个领域。
F vs MSFT — 直观对比
营收规模更大
MSFT
是对方的1.8倍
$45.9B
营收增速更快
MSFT
高出21.5%
-4.8%
净利率更高
MSFT
高出71.4%
-24.1%
自由现金流更多
MSFT
多$4.8B
$1.1B
两年增速更快
MSFT
近两年复合增速
3.6%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $45.9B | $81.3B |
| 净利润 | $-11.1B | $38.5B |
| 毛利率 | -12.5% | 68.0% |
| 营业利润率 | -25.2% | 47.1% |
| 净利率 | -24.1% | 47.3% |
| 营收同比 | -4.8% | 16.7% |
| 净利润同比 | -706.0% | 59.5% |
| 每股收益（稀释后） | $-2.77 | $5.16 |
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FMSFT
| Q4 25 | $45.9B | $81.3B | ||
| Q3 25 | $50.5B | $77.7B | ||
| Q2 25 | $50.2B | $76.4B | ||
| Q1 25 | $40.7B | $70.1B | ||
| Q4 24 | $48.2B | $69.6B | ||
| Q3 24 | $46.2B | $65.6B | ||
| Q2 24 | $47.8B | $64.7B | ||
| Q1 24 | $42.8B | $61.9B |
净利润FMSFT
| Q4 25 | $-11.1B | $38.5B | ||
| Q3 25 | $2.4B | $27.7B | ||
| Q2 25 | $-36.0M | $27.2B | ||
| Q1 25 | $471.0M | $25.8B | ||
| Q4 24 | $1.8B | $24.1B | ||
| Q3 24 | $892.0M | $24.7B | ||
| Q2 24 | $1.8B | $22.0B | ||
| Q1 24 | $1.3B | $21.9B |
毛利率FMSFT
| Q4 25 | -12.5% | 68.0% | ||
| Q3 25 | 14.1% | 69.0% | ||
| Q2 25 | 11.8% | 68.6% | ||
| Q1 25 | 13.5% | 68.7% | ||
| Q4 24 | 14.3% | 68.7% | ||
| Q3 24 | 13.0% | 69.4% | ||
| Q2 24 | 15.3% | 69.6% | ||
| Q1 24 | 14.7% | 70.1% |
营业利润率FMSFT
| Q4 25 | -25.2% | 47.1% | ||
| Q3 25 | 3.1% | 48.9% | ||
| Q2 25 | 1.0% | 44.9% | ||
| Q1 25 | 0.8% | 45.7% | ||
| Q4 24 | 2.6% | 45.5% | ||
| Q3 24 | 1.9% | 46.6% | ||
| Q2 24 | 3.9% | 43.1% | ||
| Q1 24 | 2.9% | 44.6% |
净利率FMSFT
| Q4 25 | -24.1% | 47.3% | ||
| Q3 25 | 4.8% | 35.7% | ||
| Q2 25 | -0.1% | 35.6% | ||
| Q1 25 | 1.2% | 36.9% | ||
| Q4 24 | 3.8% | 34.6% | ||
| Q3 24 | 1.9% | 37.6% | ||
| Q2 24 | 3.8% | 34.0% | ||
| Q1 24 | 3.1% | 35.5% |
每股收益（稀释后）FMSFT
| Q4 25 | $-2.77 | $5.16 | ||
| Q3 25 | $0.60 | $3.72 | ||
| Q2 25 | $-0.01 | $3.65 | ||
| Q1 25 | $0.12 | $3.46 | ||
| Q4 24 | $0.45 | $3.23 | ||
| Q3 24 | $0.22 | $3.30 | ||
| Q2 24 | $0.46 | $2.94 | ||
| Q1 24 | $0.33 | $2.94 |
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 | $38.5B | $89.5B |
| 总债务越低越好 | — | $40.3B |
| 股东权益账面价值 | $36.0B | $390.9B |
| 总资产 | $289.2B | $665.3B |
| 负债/权益比越低杠杆越低 | — | 0.10× |
8季度趋势，按日历期对齐
现金及短期投资FMSFT
| Q4 25 | $38.5B | $89.5B | ||
| Q3 25 | $42.2B | $102.0B | ||
| Q2 25 | $37.5B | $94.6B | ||
| Q1 25 | $35.2B | $79.6B | ||
| Q4 24 | $38.3B | $71.6B | ||
| Q3 24 | $36.9B | $78.4B | ||
| Q2 24 | $34.6B | $75.5B | ||
| Q1 24 | $34.5B | $80.0B |
总债务FMSFT
| Q4 25 | — | $40.3B | ||
| Q3 25 | — | $43.2B | ||
| Q2 25 | — | $43.2B | ||
| Q1 25 | — | $42.9B | ||
| Q4 24 | — | $45.0B | ||
| Q3 24 | — | $45.1B | ||
| Q2 24 | — | $44.9B | ||
| Q1 24 | — | $44.9B |
股东权益FMSFT
| Q4 25 | $36.0B | $390.9B | ||
| Q3 25 | $47.4B | $363.1B | ||
| Q2 25 | $45.1B | $343.5B | ||
| Q1 25 | $44.6B | $321.9B | ||
| Q4 24 | $44.8B | $302.7B | ||
| Q3 24 | $44.3B | $287.7B | ||
| Q2 24 | $43.6B | $268.5B | ||
| Q1 24 | $42.9B | $253.2B |
总资产FMSFT
| Q4 25 | $289.2B | $665.3B | ||
| Q3 25 | $301.0B | $636.4B | ||
| Q2 25 | $292.7B | $619.0B | ||
| Q1 25 | $284.5B | $562.6B | ||
| Q4 24 | $285.2B | $533.9B | ||
| Q3 24 | $287.0B | $523.0B | ||
| Q2 24 | $276.6B | $512.2B | ||
| Q1 24 | $274.3B | $484.3B |
负债/权益比FMSFT
| Q4 25 | — | 0.10× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.15× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.17× | ||
| Q1 24 | — | 0.18× |
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 | $3.9B | $35.8B |
| 自由现金流经营现金流 - 资本支出 | $1.1B | $5.9B |
| 自由现金流率自由现金流/营收 | 2.4% | 7.2% |
| 资本支出强度资本支出/营收 | 6.1% | 36.8% |
| 现金转化率经营现金流/净利润 | — | 0.93× |
| 过去12个月自由现金流最近4个季度 | $12.5B | $77.4B |
8季度趋势，按日历期对齐
经营现金流FMSFT
| Q4 25 | $3.9B | $35.8B | ||
| Q3 25 | $7.4B | $45.1B | ||
| Q2 25 | $6.3B | $42.6B | ||
| Q1 25 | $3.7B | $37.0B | ||
| Q4 24 | $3.0B | $22.3B | ||
| Q3 24 | $5.5B | $34.2B | ||
| Q2 24 | $5.5B | $37.2B | ||
| Q1 24 | $1.4B | $31.9B |
自由现金流FMSFT
| Q4 25 | $1.1B | $5.9B | ||
| Q3 25 | $5.3B | $25.7B | ||
| Q2 25 | $4.2B | $25.6B | ||
| Q1 25 | $1.9B | $20.3B | ||
| Q4 24 | $530.0M | $6.5B | ||
| Q3 24 | $3.5B | $19.3B | ||
| Q2 24 | $3.4B | $23.3B | ||
| Q1 24 | $-709.0M | $21.0B |
自由现金流率FMSFT
| Q4 25 | 2.4% | 7.2% | ||
| Q3 25 | 10.4% | 33.0% | ||
| Q2 25 | 8.4% | 33.4% | ||
| Q1 25 | 4.6% | 29.0% | ||
| Q4 24 | 1.1% | 9.3% | ||
| Q3 24 | 7.6% | 29.4% | ||
| Q2 24 | 7.1% | 36.0% | ||
| Q1 24 | -1.7% | 33.9% |
资本支出强度FMSFT
| Q4 25 | 6.1% | 36.8% | ||
| Q3 25 | 4.2% | 25.0% | ||
| Q2 25 | 4.2% | 22.3% | ||
| Q1 25 | 4.5% | 23.9% | ||
| Q4 24 | 5.2% | 22.7% | ||
| Q3 24 | 4.3% | 22.8% | ||
| Q2 24 | 4.4% | 21.4% | ||
| Q1 24 | 4.9% | 17.7% |
现金转化率FMSFT
| Q4 25 | — | 0.93× | ||
| Q3 25 | 3.02× | 1.62× | ||
| Q2 25 | — | 1.57× | ||
| Q1 25 | 7.81× | 1.43× | ||
| Q4 24 | 1.66× | 0.92× | ||
| Q3 24 | 6.17× | 1.39× | ||
| Q2 24 | 3.01× | 1.69× | ||
| Q1 24 | 1.04× | 1.45× |
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
F
| Ford Blue | $26.2B | 57% |
| Ford Pro | $14.9B | 33% |
| Financingincome | $2.1B | 5% |
| Ford Model E | $1.3B | 3% |
| Service And Other Revenue | $917.0M | 2% |
| Extended Service Contracts | $455.0M | 1% |
| Leasingincome | $79.0M | 0% |
| Insuranceincome | $44.0M | 0% |
MSFT
| Microsoft Three Six Five Commercial Products And Cloud Services | $24.5B | 30% |
| Products | $16.5B | 20% |
| More Personal Computing | $14.3B | 18% |
| Gaming | $6.0B | 7% |
| Linked In Corporation | $5.1B | 6% |
| Windows And Devices | $4.5B | 6% |
| Search And News Advertising | $3.8B | 5% |
| Microsoft Three Six Five Consumer Products And Cloud Services | $2.3B | 3% |
| Dynamics Products And Cloud Services | $2.2B | 3% |
| Enterprise And Partner Services | $2.0B | 3% |
| Other Products And Services | $6.0M | 0% |
