vs
高盛（GS）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
甲骨文的季度营收约是高盛的1.2倍（$16.1B vs $13.5B），甲骨文净利率更高（38.2% vs 34.3%，领先3.9%），甲骨文自由现金流更多（$-10.0B vs $-16.8B）
高盛集团是美国跨国投资银行及金融服务提供商，创立于1869年，总部位于纽约市曼哈顿下城，在全球多个国际金融中心设有区域总部。按营收计算，高盛是全球规模最大的投资银行之一，位列美国《财富》500强总营收榜单第55位。
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。
GS vs ORCL — 直观对比
营收规模更大
ORCL
是对方的1.2倍
$13.5B
净利率更高
ORCL
高出3.9%
34.3%
自由现金流更多
ORCL
多$6.8B
$-16.8B
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $13.5B | $16.1B |
| 净利润 | $4.6B | $6.1B |
| 毛利率 | — | — |
| 营业利润率 | 43.5% | 29.5% |
| 净利率 | 34.3% | 38.2% |
| 营收同比 | — | 14.2% |
| 净利润同比 | — | 94.7% |
| 每股收益（稀释后） | $14.04 | $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GSORCL
| Q4 25 | $13.5B | $16.1B | ||
| Q3 25 | $15.2B | $14.9B | ||
| Q2 25 | $14.6B | $15.9B | ||
| Q1 25 | $15.1B | $14.1B | ||
| Q4 24 | — | $14.1B | ||
| Q3 24 | $12.7B | $13.3B | ||
| Q2 24 | $12.7B | $14.3B | ||
| Q1 24 | $14.2B | $13.3B |
净利润GSORCL
| Q4 25 | $4.6B | $6.1B | ||
| Q3 25 | $4.1B | $2.9B | ||
| Q2 25 | $3.7B | $3.4B | ||
| Q1 25 | $4.7B | $2.9B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | $3.0B | $2.9B | ||
| Q2 24 | $3.0B | $3.1B | ||
| Q1 24 | $4.1B | $2.4B |
营业利润率GSORCL
| Q4 25 | 43.5% | 29.5% | ||
| Q3 25 | 35.5% | 28.7% | ||
| Q2 25 | 34.0% | 32.1% | ||
| Q1 25 | 37.5% | 30.8% | ||
| Q4 24 | — | 30.0% | ||
| Q3 24 | 31.4% | 30.0% | ||
| Q2 24 | 30.8% | 32.8% | ||
| Q1 24 | 36.8% | 28.2% |
净利率GSORCL
| Q4 25 | 34.3% | 38.2% | ||
| Q3 25 | 27.0% | 19.6% | ||
| Q2 25 | 25.5% | 21.5% | ||
| Q1 25 | 31.5% | 20.8% | ||
| Q4 24 | — | 22.4% | ||
| Q3 24 | 23.5% | 22.0% | ||
| Q2 24 | 23.9% | 22.0% | ||
| Q1 24 | 29.1% | 18.1% |
每股收益（稀释后）GSORCL
| Q4 25 | $14.04 | $2.10 | ||
| Q3 25 | $12.25 | $1.01 | ||
| Q2 25 | $10.91 | $1.19 | ||
| Q1 25 | $14.12 | $1.02 | ||
| Q4 24 | — | $1.10 | ||
| Q3 24 | $8.40 | $1.03 | ||
| Q2 24 | $8.62 | $1.11 | ||
| Q1 24 | $11.58 | $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 | $164.3B | $19.2B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $125.0B | $30.0B |
| 总资产 | $1809.3B | $205.0B |
| 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GSORCL
| Q4 25 | $164.3B | $19.2B | ||
| Q3 25 | $169.6B | $10.4B | ||
| Q2 25 | $153.0B | $10.8B | ||
| Q1 25 | $167.4B | $17.4B | ||
| Q4 24 | — | $10.9B | ||
| Q3 24 | $154.7B | $10.6B | ||
| Q2 24 | $206.3B | $10.5B | ||
| Q1 24 | $209.4B | $9.5B |
股东权益GSORCL
| Q4 25 | $125.0B | $30.0B | ||
| Q3 25 | $124.4B | $24.2B | ||
| Q2 25 | $124.1B | $20.5B | ||
| Q1 25 | $124.3B | $16.7B | ||
| Q4 24 | — | $13.7B | ||
| Q3 24 | $121.2B | $10.8B | ||
| Q2 24 | $119.5B | $8.7B | ||
| Q1 24 | $118.5B | $5.6B |
总资产GSORCL
| Q4 25 | $1809.3B | $205.0B | ||
| Q3 25 | $1808.0B | $180.4B | ||
| Q2 25 | $1785.0B | $168.4B | ||
| Q1 25 | $1766.2B | $161.4B | ||
| Q4 24 | — | $148.5B | ||
| Q3 24 | $1728.1B | $144.2B | ||
| Q2 24 | $1653.3B | $141.0B | ||
| Q1 24 | $1698.4B | $137.1B |
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 | $-16.3B | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $-16.8B | $-10.0B |
| 自由现金流率自由现金流/营收 | -124.9% | -62.1% |
| 资本支出强度资本支出/营收 | 3.9% | 74.9% |
| 现金转化率经营现金流/净利润 | -3.53× | 0.34× |
| 过去12个月自由现金流最近4个季度 | $-47.2B | $-13.2B |
8季度趋势，按日历期对齐
经营现金流GSORCL
| Q4 25 | $-16.3B | $2.1B | ||
| Q3 25 | $2.7B | $8.1B | ||
| Q2 25 | $5.7B | $6.2B | ||
| Q1 25 | $-37.2B | $5.9B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | $-28.0B | $5.5B |
自由现金流GSORCL
| Q4 25 | $-16.8B | $-10.0B | ||
| Q3 25 | $2.1B | $-362.0M | ||
| Q2 25 | $5.2B | $-2.9B | ||
| Q1 25 | $-37.7B | $71.0M | ||
| Q4 24 | — | $-2.7B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $3.3B | ||
| Q1 24 | $-28.5B | $3.8B |
自由现金流率GSORCL
| Q4 25 | -124.9% | -62.1% | ||
| Q3 25 | 14.0% | -2.4% | ||
| Q2 25 | 35.6% | -18.4% | ||
| Q1 25 | -250.5% | 0.5% | ||
| Q4 24 | — | -19.0% | ||
| Q3 24 | — | 38.5% | ||
| Q2 24 | — | 23.0% | ||
| Q1 24 | -200.8% | 28.6% |
资本支出强度GSORCL
| Q4 25 | 3.9% | 74.9% | ||
| Q3 25 | 3.7% | 57.0% | ||
| Q2 25 | 3.3% | 57.1% | ||
| Q1 25 | 3.3% | 41.5% | ||
| Q4 24 | — | 28.2% | ||
| Q3 24 | — | 17.3% | ||
| Q2 24 | — | 19.6% | ||
| Q1 24 | 3.5% | 12.6% |
现金转化率GSORCL
| Q4 25 | -3.53× | 0.34× | ||
| Q3 25 | 0.65× | 2.78× | ||
| Q2 25 | 1.52× | 1.80× | ||
| Q1 25 | -7.86× | 2.02× | ||
| Q4 24 | — | 0.41× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | — | 1.93× | ||
| Q1 24 | -6.79× | 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
GS
| Global Banking And Markets | $10.5B | 78% |
| Other | $2.9B | 22% |
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% |
