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谷歌（GOOGL）与Meta Platforms（META）财务数据对比。点击上方公司名可切换其他公司
谷歌的季度营收约是Meta Platforms的1.9倍（$113.8B vs $59.9B）。Meta Platforms净利率更高（38.0% vs 30.3%，领先7.7%）。Meta Platforms同比增速更快（23.8% vs 18.0%）。谷歌自由现金流更多（$24.6B vs $14.8B）。过去两年Meta Platforms的营收复合增速更高（28.2% vs 18.9%）
Alphabet Inc.是谷歌的母公司，业务覆盖美洲、欧洲、亚太、中东、非洲等全球主要区域，下设谷歌服务、谷歌云、创新投项三大业务板块。谷歌服务板块涵盖广告、安卓系统、Chrome、硬件、搜索、YouTube、邮箱、云盘、地图等多款产品，同时提供应用及数字内容售卖相关服务。
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%。
GOOGL vs META — 直观对比
营收规模更大
GOOGL
是对方的1.9倍
$59.9B
营收增速更快
META
高出5.8%
18.0%
净利率更高
META
高出7.7%
30.3%
自由现金流更多
GOOGL
多$9.7B
$14.8B
两年增速更快
META
近两年复合增速
18.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $113.8B | $59.9B |
| 净利润 | $34.5B | $22.8B |
| 毛利率 | 59.8% | 81.8% |
| 营业利润率 | 31.6% | 41.3% |
| 净利率 | 30.3% | 38.0% |
| 营收同比 | 18.0% | 23.8% |
| 净利润同比 | 29.8% | 9.3% |
| 每股收益（稀释后） | $2.82 | $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GOOGLMETA
| Q4 25 | $113.8B | $59.9B | ||
| Q3 25 | $102.3B | $51.2B | ||
| Q2 25 | $96.4B | $47.5B | ||
| Q1 25 | $90.2B | $42.3B | ||
| Q4 24 | $96.5B | $48.4B | ||
| Q3 24 | $88.3B | $40.6B | ||
| Q2 24 | $84.7B | $39.1B | ||
| Q1 24 | $80.5B | $36.5B |
净利润GOOGLMETA
| Q4 25 | $34.5B | $22.8B | ||
| Q3 25 | $35.0B | $2.7B | ||
| Q2 25 | $28.2B | $18.3B | ||
| Q1 25 | $34.5B | $16.6B | ||
| Q4 24 | $26.5B | $20.8B | ||
| Q3 24 | $26.3B | $15.7B | ||
| Q2 24 | $23.6B | $13.5B | ||
| Q1 24 | $23.7B | $12.4B |
毛利率GOOGLMETA
| Q4 25 | 59.8% | 81.8% | ||
| Q3 25 | 59.6% | 82.0% | ||
| Q2 25 | 59.5% | 82.1% | ||
| Q1 25 | 59.7% | 82.1% | ||
| Q4 24 | 57.9% | 81.7% | ||
| Q3 24 | 58.7% | 81.8% | ||
| Q2 24 | 58.1% | 81.3% | ||
| Q1 24 | 58.1% | 81.8% |
营业利润率GOOGLMETA
| Q4 25 | 31.6% | 41.3% | ||
| Q3 25 | 30.5% | 40.1% | ||
| Q2 25 | 32.4% | 43.0% | ||
| Q1 25 | 33.9% | 41.5% | ||
| Q4 24 | 32.1% | 48.3% | ||
| Q3 24 | 32.3% | 42.7% | ||
| Q2 24 | 32.4% | 38.0% | ||
| Q1 24 | 31.6% | 37.9% |
净利率GOOGLMETA
| Q4 25 | 30.3% | 38.0% | ||
| Q3 25 | 34.2% | 5.3% | ||
| Q2 25 | 29.2% | 38.6% | ||
| Q1 25 | 38.3% | 39.3% | ||
| Q4 24 | 27.5% | 43.1% | ||
| Q3 24 | 29.8% | 38.7% | ||
| Q2 24 | 27.9% | 34.5% | ||
| Q1 24 | 29.4% | 33.9% |
每股收益（稀释后）GOOGLMETA
| Q4 25 | $2.82 | $8.87 | ||
| Q3 25 | $2.87 | $1.05 | ||
| Q2 25 | $2.31 | $7.14 | ||
| Q1 25 | $2.81 | $6.43 | ||
| Q4 24 | $2.14 | $7.96 | ||
| Q3 24 | $2.12 | $6.03 | ||
| Q2 24 | $1.89 | $5.16 | ||
| Q1 24 | $1.89 | $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 | $126.8B | $81.6B |
| 总债务越低越好 | $49.1B | $58.7B |
| 股东权益账面价值 | $415.3B | $217.2B |
| 总资产 | $595.3B | $366.0B |
| 负债/权益比越低杠杆越低 | 0.12× | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资GOOGLMETA
| Q4 25 | $126.8B | $81.6B | ||
| Q3 25 | $98.5B | $44.4B | ||
| Q2 25 | $95.1B | $47.1B | ||
| Q1 25 | $95.3B | $70.2B | ||
| Q4 24 | $95.7B | $77.8B | ||
| Q3 24 | $93.2B | $70.9B | ||
| Q2 24 | $100.7B | $58.1B | ||
| Q1 24 | $108.1B | $58.1B |
总债务GOOGLMETA
| Q4 25 | $49.1B | $58.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $10.9B | — | ||
| Q4 24 | $10.9B | $28.8B | ||
| Q3 24 | $12.3B | $28.8B | ||
| Q2 24 | $13.2B | — | ||
| Q1 24 | $13.2B | — |
股东权益GOOGLMETA
| Q4 25 | $415.3B | $217.2B | ||
| Q3 25 | $386.9B | $194.1B | ||
| Q2 25 | $362.9B | $195.1B | ||
| Q1 25 | $345.3B | $185.0B | ||
| Q4 24 | $325.1B | $182.6B | ||
| Q3 24 | $314.1B | $164.5B | ||
| Q2 24 | $300.8B | $156.8B | ||
| Q1 24 | $292.8B | $149.5B |
总资产GOOGLMETA
| Q4 25 | $595.3B | $366.0B | ||
| Q3 25 | $536.5B | $303.8B | ||
| Q2 25 | $502.1B | $294.7B | ||
| Q1 25 | $475.4B | $280.2B | ||
| Q4 24 | $450.3B | $276.1B | ||
| Q3 24 | $430.3B | $256.4B | ||
| Q2 24 | $414.8B | $230.2B | ||
| Q1 24 | $407.4B | $222.8B |
负债/权益比GOOGLMETA
| Q4 25 | 0.12× | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | 0.03× | 0.16× | ||
| Q3 24 | 0.04× | 0.18× | ||
| Q2 24 | 0.04× | — | ||
| Q1 24 | 0.05× | — |
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 | $52.4B | $36.2B |
| 自由现金流经营现金流 - 资本支出 | $24.6B | $14.8B |
| 自由现金流率自由现金流/营收 | 21.6% | 24.8% |
| 资本支出强度资本支出/营收 | 24.5% | 35.7% |
| 现金转化率经营现金流/净利润 | 1.52× | 1.59× |
| 过去12个月自由现金流最近4个季度 | $73.3B | $46.1B |
8季度趋势，按日历期对齐
经营现金流GOOGLMETA
| Q4 25 | $52.4B | $36.2B | ||
| Q3 25 | $48.4B | $30.0B | ||
| Q2 25 | $27.7B | $25.6B | ||
| Q1 25 | $36.1B | $24.0B | ||
| Q4 24 | $39.1B | $28.0B | ||
| Q3 24 | $30.7B | $24.7B | ||
| Q2 24 | $26.6B | $19.4B | ||
| Q1 24 | $28.8B | $19.2B |
自由现金流GOOGLMETA
| Q4 25 | $24.6B | $14.8B | ||
| Q3 25 | $24.5B | $11.2B | ||
| Q2 25 | $5.3B | $9.0B | ||
| Q1 25 | $19.0B | $11.1B | ||
| Q4 24 | $24.8B | $13.6B | ||
| Q3 24 | $17.6B | $16.5B | ||
| Q2 24 | $13.5B | $11.2B | ||
| Q1 24 | $16.8B | $12.8B |
自由现金流率GOOGLMETA
| Q4 25 | 21.6% | 24.8% | ||
| Q3 25 | 23.9% | 21.8% | ||
| Q2 25 | 5.5% | 19.0% | ||
| Q1 25 | 21.0% | 26.2% | ||
| Q4 24 | 25.7% | 28.0% | ||
| Q3 24 | 20.0% | 40.6% | ||
| Q2 24 | 15.9% | 28.7% | ||
| Q1 24 | 20.9% | 35.2% |
资本支出强度GOOGLMETA
| Q4 25 | 24.5% | 35.7% | ||
| Q3 25 | 23.4% | 36.7% | ||
| Q2 25 | 23.3% | 34.8% | ||
| Q1 25 | 19.1% | 30.6% | ||
| Q4 24 | 14.8% | 29.8% | ||
| Q3 24 | 14.8% | 20.3% | ||
| Q2 24 | 15.6% | 20.9% | ||
| Q1 24 | 14.9% | 17.6% |
现金转化率GOOGLMETA
| Q4 25 | 1.52× | 1.59× | ||
| Q3 25 | 1.38× | 11.07× | ||
| Q2 25 | 0.98× | 1.39× | ||
| Q1 25 | 1.05× | 1.44× | ||
| Q4 24 | 1.47× | 1.34× | ||
| Q3 24 | 1.17× | 1.58× | ||
| Q2 24 | 1.13× | 1.44× | ||
| Q1 24 | 1.22× | 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
GOOGL
| Google Search | $63.1B | 55% |
| Google Cloud | $17.7B | 16% |
| Subscriptions & Devices | $13.6B | 12% |
| YouTube | $11.4B | 10% |
| Google Network | $7.8B | 7% |
META
| Advertising | $58.1B | 97% |
| Reality Labs | $955.0M | 2% |
| Service Other | $801.0M | 1% |
