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佳明（GRMN）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
佳明的季度营收约是Rivian Automotive, Inc.的1.4倍（$1.8B vs $1.3B），佳明净利率更高（23.1% vs -63.1%，领先86.2%），佳明同比增速更快（14.0% vs -25.8%），佳明自由现金流更多（$469.4M vs $-1.1B），过去两年佳明的营收复合增速更高（7.9% vs 3.3%）
佳明（Garmin）是总部位于美国堪萨斯州奥拉西的跨国科技企业，专注于设计、研发、生产及销售GPS功能产品，以及导航、通讯、传感类信息产品，业务覆盖汽车、航空、航海、户外、运动健身等多个领域。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
GRMN vs RIVN — 直观对比
营收规模更大
GRMN
是对方的1.4倍
$1.3B
营收增速更快
GRMN
高出39.8%
-25.8%
净利率更高
GRMN
高出86.2%
-63.1%
自由现金流更多
GRMN
多$1.6B
$-1.1B
两年增速更快
GRMN
近两年复合增速
3.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.3B |
| 净利润 | $405.1M | $-811.0M |
| 毛利率 | 59.4% | 9.3% |
| 营业利润率 | 24.6% | -64.8% |
| 净利率 | 23.1% | -63.1% |
| 营收同比 | 14.0% | -25.8% |
| 净利润同比 | 21.7% | -9.0% |
| 每股收益（稀释后） | $2.09 | $-0.66 |
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GRMNRIVN
| Q1 26 | $1.8B | — | ||
| Q4 25 | $2.1B | $1.3B | ||
| Q3 25 | $1.8B | $1.6B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $1.5B | $1.2B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $1.6B | $874.0M | ||
| Q2 24 | $1.5B | $1.2B |
净利润GRMNRIVN
| Q1 26 | $405.1M | — | ||
| Q4 25 | $528.7M | $-811.0M | ||
| Q3 25 | $401.6M | $-1.2B | ||
| Q2 25 | $400.8M | $-1.1B | ||
| Q1 25 | $332.8M | $-545.0M | ||
| Q4 24 | $435.7M | $-744.0M | ||
| Q3 24 | $399.1M | $-1.1B | ||
| Q2 24 | $300.6M | $-1.5B |
毛利率GRMNRIVN
| Q1 26 | 59.4% | — | ||
| Q4 25 | 59.2% | 9.3% | ||
| Q3 25 | 59.1% | 1.5% | ||
| Q2 25 | 58.8% | -15.8% | ||
| Q1 25 | 57.6% | 16.6% | ||
| Q4 24 | 59.3% | 9.8% | ||
| Q3 24 | 60.0% | -44.9% | ||
| Q2 24 | 57.3% | -38.9% |
营业利润率GRMNRIVN
| Q1 26 | 24.6% | — | ||
| Q4 25 | 28.9% | -64.8% | ||
| Q3 25 | 25.8% | -63.1% | ||
| Q2 25 | 26.0% | -85.5% | ||
| Q1 25 | 21.7% | -52.8% | ||
| Q4 24 | 28.3% | -38.1% | ||
| Q3 24 | 27.6% | -133.8% | ||
| Q2 24 | 22.7% | -118.7% |
净利率GRMNRIVN
| Q1 26 | 23.1% | — | ||
| Q4 25 | 24.9% | -63.1% | ||
| Q3 25 | 22.7% | -75.3% | ||
| Q2 25 | 22.1% | -85.7% | ||
| Q1 25 | 21.7% | -44.0% | ||
| Q4 24 | 23.9% | -42.9% | ||
| Q3 24 | 25.2% | -125.9% | ||
| Q2 24 | 20.0% | -125.8% |
每股收益（稀释后）GRMNRIVN
| Q1 26 | $2.09 | — | ||
| Q4 25 | $2.72 | $-0.66 | ||
| Q3 25 | $2.08 | $-0.96 | ||
| Q2 25 | $2.07 | $-0.97 | ||
| Q1 25 | $1.72 | $-0.48 | ||
| Q4 24 | $2.24 | $-0.67 | ||
| Q3 24 | $2.07 | $-1.08 | ||
| Q2 24 | $1.56 | $-1.46 |
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 | $2.3B | $6.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $4.6B |
| 总资产 | $11.0B | $14.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资GRMNRIVN
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $6.1B | ||
| Q3 25 | $2.1B | $7.1B | ||
| Q2 25 | $2.1B | $7.5B | ||
| Q1 25 | $2.2B | $7.2B | ||
| Q4 24 | $2.1B | $7.7B | ||
| Q3 24 | $2.0B | $6.7B | ||
| Q2 24 | $1.9B | $7.9B |
总债务GRMNRIVN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $5.5B |
股东权益GRMNRIVN
| Q1 26 | — | — | ||
| Q4 25 | $9.0B | $4.6B | ||
| Q3 25 | $8.5B | $5.1B | ||
| Q2 25 | $8.1B | $6.1B | ||
| Q1 25 | $8.2B | $6.2B | ||
| Q4 24 | $7.8B | $6.6B | ||
| Q3 24 | $7.5B | $5.9B | ||
| Q2 24 | $7.0B | $6.8B |
总资产GRMNRIVN
| Q1 26 | $11.0B | — | ||
| Q4 25 | $11.0B | $14.9B | ||
| Q3 25 | $10.5B | $15.2B | ||
| Q2 25 | $10.3B | $15.6B | ||
| Q1 25 | $9.8B | $15.5B | ||
| Q4 24 | $9.6B | $15.4B | ||
| Q3 24 | $9.3B | $14.3B | ||
| Q2 24 | $8.9B | $15.4B |
负债/权益比GRMNRIVN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.81× |
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 | $536.0M | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $469.4M | $-1.1B |
| 自由现金流率自由现金流/营收 | 26.8% | -89.0% |
| 资本支出强度资本支出/营收 | — | 36.0% |
| 现金转化率经营现金流/净利润 | 1.32× | — |
| 过去12个月自由现金流最近4个季度 | $1.5B | $-2.5B |
8季度趋势，按日历期对齐
经营现金流GRMNRIVN
| Q1 26 | $536.0M | — | ||
| Q4 25 | $553.8M | $-681.0M | ||
| Q3 25 | $485.6M | $26.0M | ||
| Q2 25 | $173.2M | $64.0M | ||
| Q1 25 | $420.8M | $-188.0M | ||
| Q4 24 | $483.9M | $1.2B | ||
| Q3 24 | $258.0M | $-876.0M | ||
| Q2 24 | $255.3M | $-754.0M |
自由现金流GRMNRIVN
| Q1 26 | $469.4M | — | ||
| Q4 25 | $429.6M | $-1.1B | ||
| Q3 25 | $425.1M | $-421.0M | ||
| Q2 25 | $127.5M | $-398.0M | ||
| Q1 25 | $380.7M | $-526.0M | ||
| Q4 24 | $399.2M | $856.0M | ||
| Q3 24 | $219.4M | $-1.2B | ||
| Q2 24 | $218.2M | $-1.0B |
自由现金流率GRMNRIVN
| Q1 26 | 26.8% | — | ||
| Q4 25 | 20.2% | -89.0% | ||
| Q3 25 | 24.0% | -27.0% | ||
| Q2 25 | 7.0% | -30.5% | ||
| Q1 25 | 24.8% | -42.4% | ||
| Q4 24 | 21.9% | 49.4% | ||
| Q3 24 | 13.8% | -131.9% | ||
| Q2 24 | 14.5% | -89.6% |
资本支出强度GRMNRIVN
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 36.0% | ||
| Q3 25 | 3.4% | 28.7% | ||
| Q2 25 | 2.5% | 35.5% | ||
| Q1 25 | 2.6% | 27.3% | ||
| Q4 24 | 4.6% | 18.9% | ||
| Q3 24 | 2.4% | 31.7% | ||
| Q2 24 | 2.5% | 24.4% |
现金转化率GRMNRIVN
| Q1 26 | 1.32× | — | ||
| Q4 25 | 1.05× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 1.26× | — | ||
| Q4 24 | 1.11× | — | ||
| Q3 24 | 0.65× | — | ||
| Q2 24 | 0.85× | — |
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
GRMN
暂无分部数据
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
