vs
谷歌（GOOGL）与英伟达（NVDA）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英伟达的1.7倍（$113.8B vs $68.1B），英伟达净利率更高（63.1% vs 30.3%，领先32.8%），英伟达同比增速更快（73.2% vs 18.0%），英伟达自由现金流更多（$34.9B vs $24.6B），过去两年英伟达的营收复合增速更高（61.7% 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。
英伟达是总部位于美国加利福尼亚州圣克拉拉的科技企业，1993年由黄仁勋、克里斯·马拉科夫斯基、柯蒂斯·普里姆联合创立。公司主营图形处理器（GPU）、系统级芯片（SoC）及应用程序接口（API）产品，覆盖数据科学、高性能计算、游戏、移动与车载应用等领域，是全球知名的头部科技企业之一。
GOOGL vs NVDA — 直观对比
营收规模更大
GOOGL
是对方的1.7倍
$68.1B
营收增速更快
NVDA
高出55.2%
18.0%
净利率更高
NVDA
高出32.8%
30.3%
自由现金流更多
NVDA
多$10.4B
$24.6B
两年增速更快
NVDA
近两年复合增速
18.9%
损益表 — Q4 FY2025 vs Q4 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $113.8B | $68.1B |
| 净利润 | $34.5B | $43.0B |
| 毛利率 | 59.8% | 75.0% |
| 营业利润率 | 31.6% | 65.0% |
| 净利率 | 30.3% | 63.1% |
| 营收同比 | 18.0% | 73.2% |
| 净利润同比 | 29.8% | 94.5% |
| 每股收益（稀释后） | $2.82 | $1.76 |
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GOOGLNVDA
| Q1 26 | — | $68.1B | ||
| Q4 25 | $113.8B | $57.0B | ||
| Q3 25 | $102.3B | $46.7B | ||
| Q2 25 | $96.4B | $44.1B | ||
| Q1 25 | $90.2B | $39.3B | ||
| Q4 24 | $96.5B | $35.1B | ||
| Q3 24 | $88.3B | $30.0B | ||
| Q2 24 | $84.7B | $26.0B |
净利润GOOGLNVDA
| Q1 26 | — | $43.0B | ||
| Q4 25 | $34.5B | $31.9B | ||
| Q3 25 | $35.0B | $26.4B | ||
| Q2 25 | $28.2B | $18.8B | ||
| Q1 25 | $34.5B | $22.1B | ||
| Q4 24 | $26.5B | $19.3B | ||
| Q3 24 | $26.3B | $16.6B | ||
| Q2 24 | $23.6B | $14.9B |
毛利率GOOGLNVDA
| Q1 26 | — | 75.0% | ||
| Q4 25 | 59.8% | 73.4% | ||
| Q3 25 | 59.6% | 72.4% | ||
| Q2 25 | 59.5% | 60.5% | ||
| Q1 25 | 59.7% | 73.0% | ||
| Q4 24 | 57.9% | 74.6% | ||
| Q3 24 | 58.7% | 75.1% | ||
| Q2 24 | 58.1% | 78.4% |
营业利润率GOOGLNVDA
| Q1 26 | — | 65.0% | ||
| Q4 25 | 31.6% | 63.2% | ||
| Q3 25 | 30.5% | 60.8% | ||
| Q2 25 | 32.4% | 49.1% | ||
| Q1 25 | 33.9% | 61.1% | ||
| Q4 24 | 32.1% | 62.3% | ||
| Q3 24 | 32.3% | 62.1% | ||
| Q2 24 | 32.4% | 64.9% |
净利率GOOGLNVDA
| Q1 26 | — | 63.1% | ||
| Q4 25 | 30.3% | 56.0% | ||
| Q3 25 | 34.2% | 56.5% | ||
| Q2 25 | 29.2% | 42.6% | ||
| Q1 25 | 38.3% | 56.2% | ||
| Q4 24 | 27.5% | 55.0% | ||
| Q3 24 | 29.8% | 55.3% | ||
| Q2 24 | 27.9% | 57.1% |
每股收益（稀释后）GOOGLNVDA
| Q1 26 | — | $1.76 | ||
| Q4 25 | $2.82 | $1.30 | ||
| Q3 25 | $2.87 | $1.08 | ||
| Q2 25 | $2.31 | $0.76 | ||
| Q1 25 | $2.81 | $-4.49 | ||
| Q4 24 | $2.14 | $0.78 | ||
| Q3 24 | $2.12 | $0.67 | ||
| Q2 24 | $1.89 | $5.98 |
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 | $10.6B |
| 总债务越低越好 | $49.1B | $8.5B |
| 股东权益账面价值 | $415.3B | $157.3B |
| 总资产 | $595.3B | $206.8B |
| 负债/权益比越低杠杆越低 | 0.12× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资GOOGLNVDA
| Q1 26 | — | $10.6B | ||
| Q4 25 | $126.8B | $60.6B | ||
| Q3 25 | $98.5B | $56.8B | ||
| Q2 25 | $95.1B | $53.7B | ||
| Q1 25 | $95.3B | $43.2B | ||
| Q4 24 | $95.7B | $38.5B | ||
| Q3 24 | $93.2B | $34.8B | ||
| Q2 24 | $100.7B | $31.4B |
总债务GOOGLNVDA
| Q1 26 | — | $8.5B | ||
| Q4 25 | $49.1B | $8.5B | ||
| Q3 25 | — | $8.5B | ||
| Q2 25 | — | $8.5B | ||
| Q1 25 | $10.9B | $8.5B | ||
| Q4 24 | $10.9B | $8.5B | ||
| Q3 24 | $12.3B | $8.5B | ||
| Q2 24 | $13.2B | $9.7B |
股东权益GOOGLNVDA
| Q1 26 | — | $157.3B | ||
| Q4 25 | $415.3B | $118.9B | ||
| Q3 25 | $386.9B | $100.1B | ||
| Q2 25 | $362.9B | $83.8B | ||
| Q1 25 | $345.3B | $79.3B | ||
| Q4 24 | $325.1B | $65.9B | ||
| Q3 24 | $314.1B | $58.2B | ||
| Q2 24 | $300.8B | $49.1B |
总资产GOOGLNVDA
| Q1 26 | — | $206.8B | ||
| Q4 25 | $595.3B | $161.1B | ||
| Q3 25 | $536.5B | $140.7B | ||
| Q2 25 | $502.1B | $125.3B | ||
| Q1 25 | $475.4B | $111.6B | ||
| Q4 24 | $450.3B | $96.0B | ||
| Q3 24 | $430.3B | $85.2B | ||
| Q2 24 | $414.8B | $77.1B |
负债/权益比GOOGLNVDA
| Q1 26 | — | 0.05× | ||
| Q4 25 | 0.12× | 0.07× | ||
| Q3 25 | — | 0.08× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | 0.03× | 0.11× | ||
| Q4 24 | 0.03× | 0.13× | ||
| Q3 24 | 0.04× | 0.15× | ||
| Q2 24 | 0.04× | 0.20× |
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 | $34.9B |
| 自由现金流率自由现金流/营收 | 21.6% | 51.2% |
| 资本支出强度资本支出/营收 | 24.5% | 1.9% |
| 现金转化率经营现金流/净利润 | 1.52× | 0.84× |
| 过去12个月自由现金流最近4个季度 | $73.3B | $96.7B |
8季度趋势，按日历期对齐
经营现金流GOOGLNVDA
| Q1 26 | — | $36.2B | ||
| Q4 25 | $52.4B | $23.8B | ||
| Q3 25 | $48.4B | $15.4B | ||
| Q2 25 | $27.7B | $27.4B | ||
| Q1 25 | $36.1B | $16.6B | ||
| Q4 24 | $39.1B | $17.6B | ||
| Q3 24 | $30.7B | $14.5B | ||
| Q2 24 | $26.6B | $15.3B |
自由现金流GOOGLNVDA
| Q1 26 | — | $34.9B | ||
| Q4 25 | $24.6B | $22.1B | ||
| Q3 25 | $24.5B | $13.5B | ||
| Q2 25 | $5.3B | $26.2B | ||
| Q1 25 | $19.0B | $15.6B | ||
| Q4 24 | $24.8B | $16.8B | ||
| Q3 24 | $17.6B | $13.5B | ||
| Q2 24 | $13.5B | $15.0B |
自由现金流率GOOGLNVDA
| Q1 26 | — | 51.2% | ||
| Q4 25 | 21.6% | 38.8% | ||
| Q3 25 | 23.9% | 28.8% | ||
| Q2 25 | 5.5% | 59.4% | ||
| Q1 25 | 21.0% | 39.5% | ||
| Q4 24 | 25.7% | 47.9% | ||
| Q3 24 | 20.0% | 45.0% | ||
| Q2 24 | 15.9% | 57.5% |
资本支出强度GOOGLNVDA
| Q1 26 | — | 1.9% | ||
| Q4 25 | 24.5% | 2.9% | ||
| Q3 25 | 23.4% | 4.1% | ||
| Q2 25 | 23.3% | 2.8% | ||
| Q1 25 | 19.1% | 2.7% | ||
| Q4 24 | 14.8% | 2.3% | ||
| Q3 24 | 14.8% | 3.3% | ||
| Q2 24 | 15.6% | 1.4% |
现金转化率GOOGLNVDA
| Q1 26 | — | 0.84× | ||
| Q4 25 | 1.52× | 0.74× | ||
| Q3 25 | 1.38× | 0.58× | ||
| Q2 25 | 0.98× | 1.46× | ||
| Q1 25 | 1.05× | 0.75× | ||
| Q4 24 | 1.47× | 0.91× | ||
| Q3 24 | 1.17× | 0.87× | ||
| Q2 24 | 1.13× | 1.03× |
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% |
NVDA
| Compute | $51.3B | 75% |
| Networking | $11.0B | 16% |
| Gaming | $3.7B | 5% |
| Professional Visualization | $1.3B | 2% |
| Automotive | $604.0M | 1% |
| OEM And Other | $161.0M | 0% |
| Inventory Purchase Obligations In Excess Of Projections | $31.0M | 0% |
