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伯克希尔·哈撒韦（HEI）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
伯克希尔·哈撒韦的季度营收约是思佳讯的1.2倍（$1.2B vs $1.0B），伯克希尔·哈撒韦净利率更高（15.6% vs 7.6%，领先7.9%），伯克希尔·哈撒韦同比增速更快（19.3% vs 8.6%），思佳讯自由现金流更多（$339.0M vs $268.5M），过去两年伯克希尔·哈撒韦的营收复合增速更高（16.2% vs -0.5%）
伯克希尔·哈撒韦是总部位于美国内布拉斯加州奥马哈的跨国综合控股集团，最初主营纺织品制造，1965年起在董事长兼首席执行官沃伦·巴菲特、副董事长查理·芒格的带领下转型为多元化企业集团，2026年初格雷格·阿贝尔接任首席执行官，巴菲特个人持有公司38.4%的A类有投票权股份，对应15.1%的整体经济权益。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
HEI vs SWKS — 直观对比
营收规模更大
HEI
是对方的1.2倍
$1.0B
营收增速更快
HEI
高出10.7%
8.6%
净利率更高
HEI
高出7.9%
7.6%
自由现金流更多
SWKS
多$70.5M
$268.5M
两年增速更快
HEI
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.0B |
| 净利润 | $188.3M | $79.2M |
| 毛利率 | 40.2% | 41.3% |
| 营业利润率 | 23.1% | 10.0% |
| 净利率 | 15.6% | 7.6% |
| 营收同比 | 19.3% | 8.6% |
| 净利润同比 | 34.8% | 15.3% |
| 每股收益（稀释后） | $1.32 | $0.53 |
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HEISWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | $965.0M | ||
| Q1 25 | $1.0B | $953.2M | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $992.2M | $1.0B | ||
| Q2 24 | $955.4M | $905.5M |
净利润HEISWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $188.3M | $141.4M | ||
| Q3 25 | $177.3M | — | ||
| Q2 25 | $156.8M | $105.0M | ||
| Q1 25 | $168.0M | $68.7M | ||
| Q4 24 | $139.7M | $162.0M | ||
| Q3 24 | $136.6M | $60.5M | ||
| Q2 24 | $123.1M | $120.9M |
毛利率HEISWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | 40.2% | 40.7% | ||
| Q3 25 | 39.8% | — | ||
| Q2 25 | 39.9% | 41.6% | ||
| Q1 25 | 39.4% | 41.1% | ||
| Q4 24 | 38.9% | 41.4% | ||
| Q3 24 | 39.2% | 41.9% | ||
| Q2 24 | 38.9% | 40.2% |
营业利润率HEISWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | 23.1% | 10.1% | ||
| Q3 25 | 23.1% | — | ||
| Q2 25 | 22.6% | 11.5% | ||
| Q1 25 | 22.0% | 10.2% | ||
| Q4 24 | 21.6% | 16.9% | ||
| Q3 24 | 21.8% | 5.8% | ||
| Q2 24 | 21.9% | 14.4% |
净利率HEISWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | 15.6% | 12.9% | ||
| Q3 25 | 15.5% | — | ||
| Q2 25 | 14.3% | 10.9% | ||
| Q1 25 | 16.3% | 7.2% | ||
| Q4 24 | 13.8% | 15.2% | ||
| Q3 24 | 13.8% | 5.9% | ||
| Q2 24 | 12.9% | 13.4% |
每股收益（稀释后）HEISWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $1.32 | $0.95 | ||
| Q3 25 | $1.26 | — | ||
| Q2 25 | $1.12 | $0.70 | ||
| Q1 25 | $1.20 | $0.43 | ||
| Q4 24 | $1.00 | $1.00 | ||
| Q3 24 | $0.97 | $0.36 | ||
| Q2 24 | $0.88 | $0.75 |
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 | $217.8M | $1.6B |
| 总债务越低越好 | $2.2B | $496.6M |
| 股东权益账面价值 | $4.3B | $5.8B |
| 总资产 | $8.5B | $7.9B |
| 负债/权益比越低杠杆越低 | 0.50× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资HEISWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $217.8M | $1.4B | ||
| Q3 25 | $261.9M | — | ||
| Q2 25 | $242.3M | $1.3B | ||
| Q1 25 | $165.5M | $1.5B | ||
| Q4 24 | $162.1M | $1.7B | ||
| Q3 24 | $202.9M | $1.6B | ||
| Q2 24 | $204.2M | $1.3B |
总债务HEISWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | $2.2B | $496.4M | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.3B | $496.2M | ||
| Q1 25 | $2.3B | $995.1M | ||
| Q4 24 | $2.2B | $994.7M | ||
| Q3 24 | $2.3B | $994.3M | ||
| Q2 24 | $2.4B | $994.0M |
股东权益HEISWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $4.3B | $5.8B | ||
| Q3 25 | $4.1B | — | ||
| Q2 25 | $4.0B | $5.7B | ||
| Q1 25 | $3.7B | $5.9B | ||
| Q4 24 | $3.6B | $6.4B | ||
| Q3 24 | $3.5B | $6.3B | ||
| Q2 24 | $3.4B | $6.3B |
总资产HEISWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $8.5B | $7.9B | ||
| Q3 25 | $8.5B | — | ||
| Q2 25 | $8.1B | $7.7B | ||
| Q1 25 | $7.9B | $7.9B | ||
| Q4 24 | $7.6B | $8.3B | ||
| Q3 24 | $7.4B | $8.3B | ||
| Q2 24 | $7.4B | $8.2B |
负债/权益比HEISWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | 0.50× | 0.09× | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.57× | 0.09× | ||
| Q1 25 | 0.63× | 0.17× | ||
| Q4 24 | 0.61× | 0.16× | ||
| Q3 24 | 0.64× | 0.16× | ||
| Q2 24 | 0.70× | 0.16× |
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 | $295.3M | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $268.5M | $339.0M |
| 自由现金流率自由现金流/营收 | 22.2% | 32.7% |
| 资本支出强度资本支出/营收 | 2.2% | 5.5% |
| 现金转化率经营现金流/净利润 | 1.57× | 4.99× |
| 过去12个月自由现金流最近4个季度 | $861.4M | $1.1B |
8季度趋势，按日历期对齐
经营现金流HEISWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $295.3M | $200.0M | ||
| Q3 25 | $231.2M | — | ||
| Q2 25 | $204.7M | $314.2M | ||
| Q1 25 | $203.0M | $409.4M | ||
| Q4 24 | $205.6M | $377.2M | ||
| Q3 24 | $214.0M | $476.1M | ||
| Q2 24 | $141.1M | $273.4M |
自由现金流HEISWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $268.5M | $144.0M | ||
| Q3 25 | $218.5M | — | ||
| Q2 25 | $188.7M | $252.7M | ||
| Q1 25 | $185.7M | $370.9M | ||
| Q4 24 | $189.5M | $338.2M | ||
| Q3 24 | $198.1M | $393.3M | ||
| Q2 24 | $128.2M | $249.0M |
自由现金流率HEISWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 22.2% | 13.1% | ||
| Q3 25 | 19.0% | — | ||
| Q2 25 | 17.2% | 26.2% | ||
| Q1 25 | 18.0% | 38.9% | ||
| Q4 24 | 18.7% | 31.7% | ||
| Q3 24 | 20.0% | 38.4% | ||
| Q2 24 | 13.4% | 27.5% |
资本支出强度HEISWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 2.2% | 5.1% | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.5% | 6.4% | ||
| Q1 25 | 1.7% | 4.0% | ||
| Q4 24 | 1.6% | 3.6% | ||
| Q3 24 | 1.6% | 8.1% | ||
| Q2 24 | 1.4% | 2.7% |
现金转化率HEISWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | 1.57× | 1.41× | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 1.31× | 2.99× | ||
| Q1 25 | 1.21× | 5.96× | ||
| Q4 24 | 1.47× | 2.33× | ||
| Q3 24 | 1.57× | 7.87× | ||
| Q2 24 | 1.15× | 2.26× |
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
HEI
| Aftermarket Replacement Parts | $510.0M | 42% |
| Electronic Componentsfor Defense Spaceand Aerospace | $311.8M | 26% |
| Defenseand Space | $170.6M | 14% |
| Specialty Products | $118.9M | 10% |
| Other Electronic Components | $73.0M | 6% |
| Other Industries | $15.9M | 1% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
