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谷歌（GOOGL）与甲骨文（ORCL）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甲骨文的7.1倍（$113.8B vs $16.1B），甲骨文净利率更高（38.2% vs 30.3%，领先7.9%），谷歌同比增速更快（18.0% vs 14.2%），谷歌自由现金流更多（$24.6B vs $-10.0B），过去两年谷歌的营收复合增速更高（18.9% vs 10.0%）
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。
甲骨文公司是全球知名的企业软件公司，主打数据库软件、企业级应用软件、云基础设施与云服务等业务，为全球各行业的企业提供数字化转型、数据管理与业务运营的技术解决方案，在全球企业级科技领域占据重要地位。
GOOGL vs ORCL — 直观对比
营收规模更大
GOOGL
是对方的7.1倍
$16.1B
营收增速更快
GOOGL
高出3.8%
14.2%
净利率更高
ORCL
高出7.9%
30.3%
自由现金流更多
GOOGL
多$34.5B
$-10.0B
两年增速更快
GOOGL
近两年复合增速
10.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $113.8B | $16.1B |
| 净利润 | $34.5B | $6.1B |
| 毛利率 | 59.8% | — |
| 营业利润率 | 31.6% | 29.5% |
| 净利率 | 30.3% | 38.2% |
| 营收同比 | 18.0% | 14.2% |
| 净利润同比 | 29.8% | 94.7% |
| 每股收益（稀释后） | $2.82 | $2.10 |
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GOOGLORCL
| Q4 25 | $113.8B | $16.1B | ||
| Q3 25 | $102.3B | $14.9B | ||
| Q2 25 | $96.4B | $15.9B | ||
| Q1 25 | $90.2B | $14.1B | ||
| Q4 24 | $96.5B | $14.1B | ||
| Q3 24 | $88.3B | $13.3B | ||
| Q2 24 | $84.7B | $14.3B | ||
| Q1 24 | $80.5B | $13.3B |
净利润GOOGLORCL
| Q4 25 | $34.5B | $6.1B | ||
| Q3 25 | $35.0B | $2.9B | ||
| Q2 25 | $28.2B | $3.4B | ||
| Q1 25 | $34.5B | $2.9B | ||
| Q4 24 | $26.5B | $3.2B | ||
| Q3 24 | $26.3B | $2.9B | ||
| Q2 24 | $23.6B | $3.1B | ||
| Q1 24 | $23.7B | $2.4B |
毛利率GOOGLORCL
| Q4 25 | 59.8% | — | ||
| Q3 25 | 59.6% | — | ||
| Q2 25 | 59.5% | — | ||
| Q1 25 | 59.7% | — | ||
| Q4 24 | 57.9% | — | ||
| Q3 24 | 58.7% | — | ||
| Q2 24 | 58.1% | — | ||
| Q1 24 | 58.1% | — |
营业利润率GOOGLORCL
| Q4 25 | 31.6% | 29.5% | ||
| Q3 25 | 30.5% | 28.7% | ||
| Q2 25 | 32.4% | 32.1% | ||
| Q1 25 | 33.9% | 30.8% | ||
| Q4 24 | 32.1% | 30.0% | ||
| Q3 24 | 32.3% | 30.0% | ||
| Q2 24 | 32.4% | 32.8% | ||
| Q1 24 | 31.6% | 28.2% |
净利率GOOGLORCL
| Q4 25 | 30.3% | 38.2% | ||
| Q3 25 | 34.2% | 19.6% | ||
| Q2 25 | 29.2% | 21.5% | ||
| Q1 25 | 38.3% | 20.8% | ||
| Q4 24 | 27.5% | 22.4% | ||
| Q3 24 | 29.8% | 22.0% | ||
| Q2 24 | 27.9% | 22.0% | ||
| Q1 24 | 29.4% | 18.1% |
每股收益（稀释后）GOOGLORCL
| Q4 25 | $2.82 | $2.10 | ||
| Q3 25 | $2.87 | $1.01 | ||
| Q2 25 | $2.31 | $1.19 | ||
| Q1 25 | $2.81 | $1.02 | ||
| Q4 24 | $2.14 | $1.10 | ||
| Q3 24 | $2.12 | $1.03 | ||
| Q2 24 | $1.89 | $1.11 | ||
| Q1 24 | $1.89 | $0.85 |
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 | $19.2B |
| 总债务越低越好 | $49.1B | — |
| 股东权益账面价值 | $415.3B | $30.0B |
| 总资产 | $595.3B | $205.0B |
| 负债/权益比越低杠杆越低 | 0.12× | — |
8季度趋势，按日历期对齐
现金及短期投资GOOGLORCL
| Q4 25 | $126.8B | $19.2B | ||
| Q3 25 | $98.5B | $10.4B | ||
| Q2 25 | $95.1B | $10.8B | ||
| Q1 25 | $95.3B | $17.4B | ||
| Q4 24 | $95.7B | $10.9B | ||
| Q3 24 | $93.2B | $10.6B | ||
| Q2 24 | $100.7B | $10.5B | ||
| Q1 24 | $108.1B | $9.5B |
总债务GOOGLORCL
| Q4 25 | $49.1B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $10.9B | — | ||
| Q4 24 | $10.9B | — | ||
| Q3 24 | $12.3B | — | ||
| Q2 24 | $13.2B | — | ||
| Q1 24 | $13.2B | — |
股东权益GOOGLORCL
| Q4 25 | $415.3B | $30.0B | ||
| Q3 25 | $386.9B | $24.2B | ||
| Q2 25 | $362.9B | $20.5B | ||
| Q1 25 | $345.3B | $16.7B | ||
| Q4 24 | $325.1B | $13.7B | ||
| Q3 24 | $314.1B | $10.8B | ||
| Q2 24 | $300.8B | $8.7B | ||
| Q1 24 | $292.8B | $5.6B |
总资产GOOGLORCL
| Q4 25 | $595.3B | $205.0B | ||
| Q3 25 | $536.5B | $180.4B | ||
| Q2 25 | $502.1B | $168.4B | ||
| Q1 25 | $475.4B | $161.4B | ||
| Q4 24 | $450.3B | $148.5B | ||
| Q3 24 | $430.3B | $144.2B | ||
| Q2 24 | $414.8B | $141.0B | ||
| Q1 24 | $407.4B | $137.1B |
负债/权益比GOOGLORCL
| Q4 25 | 0.12× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | 0.03× | — | ||
| Q3 24 | 0.04× | — | ||
| 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 | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $24.6B | $-10.0B |
| 自由现金流率自由现金流/营收 | 21.6% | -62.1% |
| 资本支出强度资本支出/营收 | 24.5% | 74.9% |
| 现金转化率经营现金流/净利润 | 1.52× | 0.34× |
| 过去12个月自由现金流最近4个季度 | $73.3B | $-13.2B |
8季度趋势，按日历期对齐
经营现金流GOOGLORCL
| Q4 25 | $52.4B | $2.1B | ||
| Q3 25 | $48.4B | $8.1B | ||
| Q2 25 | $27.7B | $6.2B | ||
| Q1 25 | $36.1B | $5.9B | ||
| Q4 24 | $39.1B | $1.3B | ||
| Q3 24 | $30.7B | $7.4B | ||
| Q2 24 | $26.6B | $6.1B | ||
| Q1 24 | $28.8B | $5.5B |
自由现金流GOOGLORCL
| Q4 25 | $24.6B | $-10.0B | ||
| Q3 25 | $24.5B | $-362.0M | ||
| Q2 25 | $5.3B | $-2.9B | ||
| Q1 25 | $19.0B | $71.0M | ||
| Q4 24 | $24.8B | $-2.7B | ||
| Q3 24 | $17.6B | $5.1B | ||
| Q2 24 | $13.5B | $3.3B | ||
| Q1 24 | $16.8B | $3.8B |
自由现金流率GOOGLORCL
| Q4 25 | 21.6% | -62.1% | ||
| Q3 25 | 23.9% | -2.4% | ||
| Q2 25 | 5.5% | -18.4% | ||
| Q1 25 | 21.0% | 0.5% | ||
| Q4 24 | 25.7% | -19.0% | ||
| Q3 24 | 20.0% | 38.5% | ||
| Q2 24 | 15.9% | 23.0% | ||
| Q1 24 | 20.9% | 28.6% |
资本支出强度GOOGLORCL
| Q4 25 | 24.5% | 74.9% | ||
| Q3 25 | 23.4% | 57.0% | ||
| Q2 25 | 23.3% | 57.1% | ||
| Q1 25 | 19.1% | 41.5% | ||
| Q4 24 | 14.8% | 28.2% | ||
| Q3 24 | 14.8% | 17.3% | ||
| Q2 24 | 15.6% | 19.6% | ||
| Q1 24 | 14.9% | 12.6% |
现金转化率GOOGLORCL
| Q4 25 | 1.52× | 0.34× | ||
| Q3 25 | 1.38× | 2.78× | ||
| Q2 25 | 0.98× | 1.80× | ||
| Q1 25 | 1.05× | 2.02× | ||
| Q4 24 | 1.47× | 0.41× | ||
| Q3 24 | 1.17× | 2.54× | ||
| Q2 24 | 1.13× | 1.93× | ||
| Q1 24 | 1.22× | 2.28× |
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% |
ORCL
| Software Support | $4.9B | 31% |
| Cloud Infrastructure | $4.1B | 25% |
| Cloud Applications | $3.9B | 24% |
| Services Business | $1.4B | 9% |
| Software License | $939.0M | 6% |
| Hardware Business | $776.0M | 5% |
