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FISERV INC（FISV）与拼多多（PDD）财务数据对比。点击上方公司名可切换其他公司
拼多多的季度营收约是FISERV INC的2.9倍（$15.2B vs $5.3B）。拼多多净利率更高（27.1% vs 15.3%，领先11.7%）。过去两年拼多多的营收复合增速更高（74.6% vs 4.0%）
Fiserv是总部位于美国威斯康星州密尔沃基的跨国金融科技企业，面向银行机构提供借记卡、信用卡交易处理、忠诚度计划管理、贷款服务、电子账单支付、电汇及ACH转账、支票存款、ATM交易处理等解决方案，同时生产借记卡、信用卡及POS终端设备。
PDD控股是总部位于爱尔兰的跨国企业，旗下拥有中国头部线上零售平台拼多多和跨境电商平台Temu。拼多多主打农业供应链数字化升级，助力农产品直接对接广大消费者需求。
FISV vs PDD — 直观对比
营收规模更大
PDD
是对方的2.9倍
$5.3B
净利率更高
PDD
高出11.7%
15.3%
两年增速更快
PDD
近两年复合增速
4.0%
损益表 — Q4 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $15.2B |
| 净利润 | $811.0M | $4.1B |
| 毛利率 | — | 56.7% |
| 营业利润率 | 24.4% | 23.1% |
| 净利率 | 15.3% | 27.1% |
| 营收同比 | 0.6% | — |
| 净利润同比 | -13.5% | — |
| 每股收益（稀释后） | $1.51 | — |
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FISVPDD
| Q4 25 | $5.3B | — | ||
| Q3 25 | $5.3B | $15.2B | ||
| Q2 25 | $5.5B | $14.5B | ||
| Q1 25 | $5.1B | — | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | $5.2B | $14.2B | ||
| Q2 24 | $5.1B | — | ||
| Q1 24 | $4.9B | $12.0B |
净利润FISVPDD
| Q4 25 | $811.0M | — | ||
| Q3 25 | $792.0M | $4.1B | ||
| Q2 25 | $1.0B | $4.3B | ||
| Q1 25 | $851.0M | — | ||
| Q4 24 | $938.0M | — | ||
| Q3 24 | $564.0M | $3.6B | ||
| Q2 24 | $894.0M | — | ||
| Q1 24 | $735.0M | $3.9B |
毛利率FISVPDD
| Q4 25 | — | — | ||
| Q3 25 | — | 56.7% | ||
| Q2 25 | — | 55.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 60.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 62.3% |
营业利润率FISVPDD
| Q4 25 | 24.4% | — | ||
| Q3 25 | 27.3% | 23.1% | ||
| Q2 25 | 30.7% | 24.8% | ||
| Q1 25 | 27.2% | — | ||
| Q4 24 | 31.8% | — | ||
| Q3 24 | 30.7% | 24.5% | ||
| Q2 24 | 28.0% | — | ||
| Q1 24 | 24.2% | 29.9% |
净利率FISVPDD
| Q4 25 | 15.3% | — | ||
| Q3 25 | 15.0% | 27.1% | ||
| Q2 25 | 18.6% | 29.6% | ||
| Q1 25 | 16.6% | — | ||
| Q4 24 | 17.9% | — | ||
| Q3 24 | 10.8% | 25.1% | ||
| Q2 24 | 17.5% | — | ||
| Q1 24 | 15.1% | 32.3% |
每股收益（稀释后）FISVPDD
| Q4 25 | $1.51 | — | ||
| Q3 25 | $1.46 | — | ||
| Q2 25 | $1.86 | — | ||
| Q1 25 | $1.51 | — | ||
| Q4 24 | $1.63 | — | ||
| Q3 24 | $0.98 | — | ||
| Q2 24 | $1.53 | — | ||
| Q1 24 | $1.24 | — |
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 | $798.0M | $13.0B |
| 总债务越低越好 | $27.8B | — |
| 股东权益账面价值 | $25.8B | $55.0B |
| 总资产 | $80.1B | $86.2B |
| 负债/权益比越低杠杆越低 | 1.08× | — |
8季度趋势，按日历期对齐
现金及短期投资FISVPDD
| Q4 25 | $798.0M | — | ||
| Q3 25 | $1.1B | $13.0B | ||
| Q2 25 | $999.0M | $8.8B | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | $9.3B | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | $7.7B |
总债务FISVPDD
| Q4 25 | $27.8B | — | ||
| Q3 25 | $28.9B | — | ||
| Q2 25 | $28.1B | — | ||
| Q1 25 | $27.0B | — | ||
| Q4 24 | $23.7B | — | ||
| Q3 24 | $24.1B | — | ||
| Q2 24 | $24.4B | — | ||
| Q1 24 | $23.8B | — |
股东权益FISVPDD
| Q4 25 | $25.8B | — | ||
| Q3 25 | $25.1B | $55.0B | ||
| Q2 25 | $25.2B | $50.5B | ||
| Q1 25 | $25.9B | — | ||
| Q4 24 | $27.1B | — | ||
| Q3 24 | $27.8B | $39.7B | ||
| Q2 24 | $28.2B | — | ||
| Q1 24 | $28.8B | $30.3B |
总资产FISVPDD
| Q4 25 | $80.1B | — | ||
| Q3 25 | $79.4B | $86.2B | ||
| Q2 25 | $81.5B | $79.2B | ||
| Q1 25 | $80.4B | — | ||
| Q4 24 | $77.2B | — | ||
| Q3 24 | $79.8B | $66.5B | ||
| Q2 24 | $93.4B | — | ||
| Q1 24 | $92.7B | $52.3B |
负债/权益比FISVPDD
| Q4 25 | 1.08× | — | ||
| Q3 25 | 1.15× | — | ||
| Q2 25 | 1.11× | — | ||
| Q1 25 | 1.04× | — | ||
| Q4 24 | 0.88× | — | ||
| Q3 24 | 0.87× | — | ||
| Q2 24 | 0.87× | — | ||
| Q1 24 | 0.82× | — |
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 | $1.9B | $6.4B |
| 自由现金流经营现金流 - 资本支出 | $1.5B | — |
| 自由现金流率自由现金流/营收 | 28.4% | — |
| 资本支出强度资本支出/营收 | 8.4% | — |
| 现金转化率经营现金流/净利润 | 2.40× | 1.56× |
| 过去12个月自由现金流最近4个季度 | $4.3B | — |
8季度趋势，按日历期对齐
经营现金流FISVPDD
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.8B | $6.4B | ||
| Q2 25 | $1.7B | $3.0B | ||
| Q1 25 | $648.0M | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.2B | $3.9B | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $831.0M | $2.9B |
自由现金流FISVPDD
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $313.0M | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $993.0M | — | ||
| Q1 24 | $411.0M | — |
自由现金流率FISVPDD
| Q4 25 | 28.4% | — | ||
| Q3 25 | 24.7% | — | ||
| Q2 25 | 21.5% | — | ||
| Q1 25 | 6.1% | — | ||
| Q4 24 | 34.7% | — | ||
| Q3 24 | 35.2% | — | ||
| Q2 24 | 19.4% | — | ||
| Q1 24 | 8.4% | — |
资本支出强度FISVPDD
| Q4 25 | 8.4% | — | ||
| Q3 25 | 9.6% | — | ||
| Q2 25 | 8.7% | — | ||
| Q1 25 | 6.5% | — | ||
| Q4 24 | 7.6% | — | ||
| Q3 24 | 7.7% | — | ||
| Q2 24 | 6.8% | — | ||
| Q1 24 | 8.6% | — |
现金转化率FISVPDD
| Q4 25 | 2.40× | — | ||
| Q3 25 | 2.28× | 1.56× | ||
| Q2 25 | 1.62× | 0.70× | ||
| Q1 25 | 0.76× | — | ||
| Q4 24 | 2.37× | — | ||
| Q3 24 | 3.97× | 1.10× | ||
| Q2 24 | 1.50× | — | ||
| Q1 24 | 1.13× | 0.75× |
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
FISV
| Small Business | $1.7B | 32% |
| Products | $1.0B | 19% |
| Digital Payments | $960.0M | 18% |
| Issuing | $792.0M | 15% |
| Enterprise | $587.0M | 11% |
| Processing | $265.0M | 5% |
| Affiliated Entity | $18.0M | 0% |
PDD
暂无分部数据
