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谷歌（GOOGL）与Quad/Graphics, Inc.（QUAD）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Quad/Graphics, Inc.的180.5倍（$113.8B vs $630.6M）。谷歌同比增速更快（18.0% vs -11.0%）。谷歌自由现金流更多（$24.6B vs $137.2M）。过去两年谷歌的营收复合增速更高（18.9% vs -1.9%）
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。
奎德图形是一家总部位于美国威斯康星州萨塞克斯的营销服务企业，主营各类印刷与营销服务，业务覆盖受众定向、全渠道媒体策划投放、创意内容制作、零售展示包装、邮件优化及消费者分析等领域，可同时服务实体与数字媒体渠道。2025年，该企业位列美国大型广告集团、北美大型商业印刷企业之列。
GOOGL vs QUAD — 直观对比
营收规模更大
GOOGL
是对方的180.5倍
$630.6M
营收增速更快
GOOGL
高出29.0%
-11.0%
自由现金流更多
GOOGL
多$24.4B
$137.2M
两年增速更快
GOOGL
近两年复合增速
-1.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $113.8B | $630.6M |
| 净利润 | $34.5B | — |
| 毛利率 | 59.8% | 21.6% |
| 营业利润率 | 31.6% | 5.9% |
| 净利率 | 30.3% | — |
| 营收同比 | 18.0% | -11.0% |
| 净利润同比 | 29.8% | — |
| 每股收益（稀释后） | $2.82 | $0.22 |
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GOOGLQUAD
| Q4 25 | $113.8B | $630.6M | ||
| Q3 25 | $102.3B | $588.0M | ||
| Q2 25 | $96.4B | $571.9M | ||
| Q1 25 | $90.2B | $629.4M | ||
| Q4 24 | $96.5B | $708.4M | ||
| Q3 24 | $88.3B | $674.8M | ||
| Q2 24 | $84.7B | $634.2M | ||
| Q1 24 | $80.5B | $654.8M |
净利润GOOGLQUAD
| Q4 25 | $34.5B | — | ||
| Q3 25 | $35.0B | $10.2M | ||
| Q2 25 | $28.2B | $-100.0K | ||
| Q1 25 | $34.5B | $5.8M | ||
| Q4 24 | $26.5B | — | ||
| Q3 24 | $26.3B | $-24.7M | ||
| Q2 24 | $23.6B | $-2.8M | ||
| Q1 24 | $23.7B | $-28.1M |
毛利率GOOGLQUAD
| Q4 25 | 59.8% | 21.6% | ||
| Q3 25 | 59.6% | 22.8% | ||
| Q2 25 | 59.5% | 21.6% | ||
| Q1 25 | 59.7% | 20.6% | ||
| Q4 24 | 57.9% | 22.4% | ||
| Q3 24 | 58.7% | 21.8% | ||
| Q2 24 | 58.1% | 22.1% | ||
| Q1 24 | 58.1% | 20.4% |
营业利润率GOOGLQUAD
| Q4 25 | 31.6% | 5.9% | ||
| Q3 25 | 30.5% | 4.5% | ||
| Q2 25 | 32.4% | 2.4% | ||
| Q1 25 | 33.9% | 3.1% | ||
| Q4 24 | 32.1% | 2.8% | ||
| Q3 24 | 32.3% | -0.7% | ||
| Q2 24 | 32.4% | 2.4% | ||
| Q1 24 | 31.6% | -1.6% |
净利率GOOGLQUAD
| Q4 25 | 30.3% | — | ||
| Q3 25 | 34.2% | 1.7% | ||
| Q2 25 | 29.2% | -0.0% | ||
| Q1 25 | 38.3% | 0.9% | ||
| Q4 24 | 27.5% | — | ||
| Q3 24 | 29.8% | -3.7% | ||
| Q2 24 | 27.9% | -0.4% | ||
| Q1 24 | 29.4% | -4.3% |
每股收益（稀释后）GOOGLQUAD
| Q4 25 | $2.82 | $0.22 | ||
| Q3 25 | $2.87 | $0.21 | ||
| Q2 25 | $2.31 | $0.00 | ||
| Q1 25 | $2.81 | $0.11 | ||
| Q4 24 | $2.14 | $0.11 | ||
| Q3 24 | $2.12 | $-0.52 | ||
| Q2 24 | $1.89 | $-0.06 | ||
| Q1 24 | $1.89 | $-0.60 |
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 | $63.3M |
| 总债务越低越好 | $49.1B | $369.9M |
| 股东权益账面价值 | $415.3B | $-59.5M |
| 总资产 | $595.3B | $1.3B |
| 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GOOGLQUAD
| Q4 25 | $126.8B | $63.3M | ||
| Q3 25 | $98.5B | $6.2M | ||
| Q2 25 | $95.1B | $6.7M | ||
| Q1 25 | $95.3B | $8.1M | ||
| Q4 24 | $95.7B | $29.2M | ||
| Q3 24 | $93.2B | $12.5M | ||
| Q2 24 | $100.7B | $12.8M | ||
| Q1 24 | $108.1B | $10.2M |
总债务GOOGLQUAD
| Q4 25 | $49.1B | $369.9M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $10.9B | — | ||
| Q4 24 | $10.9B | $377.1M | ||
| Q3 24 | $12.3B | — | ||
| Q2 24 | $13.2B | — | ||
| Q1 24 | $13.2B | — |
股东权益GOOGLQUAD
| Q4 25 | $415.3B | $-59.5M | ||
| Q3 25 | $386.9B | $96.7M | ||
| Q2 25 | $362.9B | $87.0M | ||
| Q1 25 | $345.3B | $87.4M | ||
| Q4 24 | $325.1B | $-131.2M | ||
| Q3 24 | $314.1B | $50.9M | ||
| Q2 24 | $300.8B | $79.1M | ||
| Q1 24 | $292.8B | $89.2M |
总资产GOOGLQUAD
| Q4 25 | $595.3B | $1.3B | ||
| Q3 25 | $536.5B | $1.3B | ||
| Q2 25 | $502.1B | $1.2B | ||
| Q1 25 | $475.4B | $1.2B | ||
| Q4 24 | $450.3B | $1.3B | ||
| Q3 24 | $430.3B | $1.4B | ||
| Q2 24 | $414.8B | $1.4B | ||
| Q1 24 | $407.4B | $1.4B |
负债/权益比GOOGLQUAD
| 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 | $145.9M |
| 自由现金流经营现金流 - 资本支出 | $24.6B | $137.2M |
| 自由现金流率自由现金流/营收 | 21.6% | 21.8% |
| 资本支出强度资本支出/营收 | 24.5% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.52× | — |
| 过去12个月自由现金流最近4个季度 | $73.3B | $50.7M |
8季度趋势，按日历期对齐
经营现金流GOOGLQUAD
| Q4 25 | $52.4B | $145.9M | ||
| Q3 25 | $48.4B | $-8.4M | ||
| Q2 25 | $27.7B | $47.4M | ||
| Q1 25 | $36.1B | $-89.0M | ||
| Q4 24 | $39.1B | $158.8M | ||
| Q3 24 | $30.7B | $2.4M | ||
| Q2 24 | $26.6B | $3.9M | ||
| Q1 24 | $28.8B | $-52.2M |
自由现金流GOOGLQUAD
| Q4 25 | $24.6B | $137.2M | ||
| Q3 25 | $24.5B | $-20.6M | ||
| Q2 25 | $5.3B | $34.4M | ||
| Q1 25 | $19.0B | $-100.3M | ||
| Q4 24 | $24.8B | $147.3M | ||
| Q3 24 | $17.6B | $-9.8M | ||
| Q2 24 | $13.5B | $-11.7M | ||
| Q1 24 | $16.8B | $-70.1M |
自由现金流率GOOGLQUAD
| Q4 25 | 21.6% | 21.8% | ||
| Q3 25 | 23.9% | -3.5% | ||
| Q2 25 | 5.5% | 6.0% | ||
| Q1 25 | 21.0% | -15.9% | ||
| Q4 24 | 25.7% | 20.8% | ||
| Q3 24 | 20.0% | -1.5% | ||
| Q2 24 | 15.9% | -1.8% | ||
| Q1 24 | 20.9% | -10.7% |
资本支出强度GOOGLQUAD
| Q4 25 | 24.5% | 1.4% | ||
| Q3 25 | 23.4% | 2.1% | ||
| Q2 25 | 23.3% | 2.3% | ||
| Q1 25 | 19.1% | 1.8% | ||
| Q4 24 | 14.8% | 1.6% | ||
| Q3 24 | 14.8% | 1.8% | ||
| Q2 24 | 15.6% | 2.5% | ||
| Q1 24 | 14.9% | 2.7% |
现金转化率GOOGLQUAD
| Q4 25 | 1.52× | — | ||
| Q3 25 | 1.38× | -0.82× | ||
| Q2 25 | 0.98× | — | ||
| Q1 25 | 1.05× | -15.34× | ||
| Q4 24 | 1.47× | — | ||
| Q3 24 | 1.17× | — | ||
| Q2 24 | 1.13× | — | ||
| Q1 24 | 1.22× | — |
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% |
QUAD
| Catalog Publications Retail Inserts Books And Directories | $300.6M | 48% |
| Direct Mail And Other Printed Products | $147.1M | 23% |
| Imaging Marketing Services And Other Services | $79.8M | 13% |
| Logistic Services | $61.4M | 10% |
| Other | $39.3M | 6% |
| Other Revenues | $2.4M | 0% |
