vs
惠普（HPQ）与优步（UBER）财务数据对比。点击上方公司名可切换其他公司
惠普的季度营收约是优步的1.0倍（$14.6B vs $14.4B），惠普净利率更高（5.4% vs 2.1%，领先3.4%），优步同比增速更快（20.1% vs 4.2%），优步自由现金流更多（$2.8B vs $1.4B），过去两年优步的营收复合增速更高（19.1% vs 5.4%）
惠普（HP）是美国知名跨国信息技术企业，1939年由比尔·休利特与戴维·帕卡德在加州帕洛阿尔托的一间车库中创立，后续成长为硅谷核心地带极具影响力的科技巨头，其倡导的“惠普之道”经营理念也在行业内广为流传。
优步是总部位于美国加利福尼亚州旧金山的跨国出行科技企业，核心业务涵盖网约车、快递、食品配送及货运服务，业务覆盖全球约70个国家和15000座城市，是全球规模最大的共享出行平台，月活用户超1.8亿，活跃司机及配送员超600万。
HPQ vs UBER — 直观对比
营收规模更大
HPQ
是对方的1.0倍
$14.4B
营收增速更快
UBER
高出16.0%
4.2%
净利率更高
HPQ
高出3.4%
2.1%
自由现金流更多
UBER
多$1.4B
$1.4B
两年增速更快
UBER
近两年复合增速
5.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $14.6B | $14.4B |
| 净利润 | $795.0M | $296.0M |
| 毛利率 | 20.2% | — |
| 营业利润率 | 6.6% | 12.3% |
| 净利率 | 5.4% | 2.1% |
| 营收同比 | 4.2% | 20.1% |
| 净利润同比 | -12.3% | -95.7% |
| 每股收益（稀释后） | $0.84 | $0.16 |
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HPQUBER
| Q4 25 | $14.6B | $14.4B | ||
| Q3 25 | $13.9B | $13.5B | ||
| Q2 25 | $13.2B | $12.7B | ||
| Q1 25 | $13.5B | $11.5B | ||
| Q4 24 | $14.1B | $12.0B | ||
| Q3 24 | $13.5B | $11.2B | ||
| Q2 24 | $12.8B | $10.7B | ||
| Q1 24 | $13.2B | $10.1B |
净利润HPQUBER
| Q4 25 | $795.0M | $296.0M | ||
| Q3 25 | $763.0M | $6.6B | ||
| Q2 25 | $406.0M | $1.4B | ||
| Q1 25 | $565.0M | $1.8B | ||
| Q4 24 | $906.0M | $6.9B | ||
| Q3 24 | $640.0M | $2.6B | ||
| Q2 24 | $607.0M | $1.0B | ||
| Q1 24 | $622.0M | $-654.0M |
毛利率HPQUBER
| Q4 25 | 20.2% | — | ||
| Q3 25 | 20.5% | — | ||
| Q2 25 | 20.7% | — | ||
| Q1 25 | 21.0% | — | ||
| Q4 24 | 21.4% | — | ||
| Q3 24 | 21.5% | — | ||
| Q2 24 | 23.6% | — | ||
| Q1 24 | 21.9% | — |
营业利润率HPQUBER
| Q4 25 | 6.6% | 12.3% | ||
| Q3 25 | 5.1% | 8.3% | ||
| Q2 25 | 4.9% | 11.5% | ||
| Q1 25 | 6.3% | 10.6% | ||
| Q4 24 | 7.1% | 6.4% | ||
| Q3 24 | 7.0% | 9.5% | ||
| Q2 24 | 7.4% | 7.4% | ||
| Q1 24 | 7.1% | 1.7% |
净利率HPQUBER
| Q4 25 | 5.4% | 2.1% | ||
| Q3 25 | 5.5% | 49.2% | ||
| Q2 25 | 3.1% | 10.7% | ||
| Q1 25 | 4.2% | 15.4% | ||
| Q4 24 | 6.4% | 57.6% | ||
| Q3 24 | 4.7% | 23.3% | ||
| Q2 24 | 4.7% | 9.5% | ||
| Q1 24 | 4.7% | -6.5% |
每股收益（稀释后）HPQUBER
| Q4 25 | $0.84 | $0.16 | ||
| Q3 25 | $0.80 | $3.11 | ||
| Q2 25 | $0.42 | $0.63 | ||
| Q1 25 | $0.59 | $0.83 | ||
| Q4 24 | $0.93 | $3.21 | ||
| Q3 24 | $0.65 | $1.20 | ||
| Q2 24 | $0.61 | $0.47 | ||
| Q1 24 | $0.62 | $-0.32 |
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 | $3.7B | $7.6B |
| 总债务越低越好 | $9.7B | $10.6B |
| 股东权益账面价值 | $-346.0M | $27.0B |
| 总资产 | $41.8B | $61.8B |
| 负债/权益比越低杠杆越低 | — | 0.39× |
8季度趋势，按日历期对齐
现金及短期投资HPQUBER
| Q4 25 | $3.7B | $7.6B | ||
| Q3 25 | $2.9B | $9.1B | ||
| Q2 25 | $2.7B | $7.4B | ||
| Q1 25 | $2.9B | $6.0B | ||
| Q4 24 | $3.2B | $7.0B | ||
| Q3 24 | $2.8B | $9.1B | ||
| Q2 24 | $2.4B | $6.3B | ||
| Q1 24 | $2.3B | $5.8B |
总债务HPQUBER
| Q4 25 | $9.7B | $10.6B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $9.7B | $9.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HPQUBER
| Q4 25 | $-346.0M | $27.0B | ||
| Q3 25 | $-901.0M | $28.1B | ||
| Q2 25 | $-1.3B | $22.6B | ||
| Q1 25 | $-1.1B | $22.0B | ||
| Q4 24 | $-1.3B | $21.6B | ||
| Q3 24 | $-1.4B | $14.8B | ||
| Q2 24 | $-916.0M | $12.3B | ||
| Q1 24 | $-1.6B | $11.1B |
总资产HPQUBER
| Q4 25 | $41.8B | $61.8B | ||
| Q3 25 | $39.9B | $63.3B | ||
| Q2 25 | $38.8B | $56.0B | ||
| Q1 25 | $38.9B | $52.8B | ||
| Q4 24 | $39.9B | $51.2B | ||
| Q3 24 | $38.1B | $47.1B | ||
| Q2 24 | $37.4B | $41.5B | ||
| Q1 24 | $35.8B | $39.6B |
负债/权益比HPQUBER
| Q4 25 | — | 0.39× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.44× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $1.6B | $2.9B |
| 自由现金流经营现金流 - 资本支出 | $1.4B | $2.8B |
| 自由现金流率自由现金流/营收 | 9.7% | 19.5% |
| 资本支出强度资本支出/营收 | 1.3% | 0.5% |
| 现金转化率经营现金流/净利润 | 2.04× | 9.74× |
| 过去12个月自由现金流最近4个季度 | $2.8B | $9.8B |
8季度趋势，按日历期对齐
经营现金流HPQUBER
| Q4 25 | $1.6B | $2.9B | ||
| Q3 25 | $1.7B | $2.3B | ||
| Q2 25 | $38.0M | $2.6B | ||
| Q1 25 | $374.0M | $2.3B | ||
| Q4 24 | $1.6B | $1.8B | ||
| Q3 24 | $1.4B | $2.2B | ||
| Q2 24 | $581.0M | $1.8B | ||
| Q1 24 | $121.0M | $1.4B |
自由现金流HPQUBER
| Q4 25 | $1.4B | $2.8B | ||
| Q3 25 | $1.4B | $2.2B | ||
| Q2 25 | $-145.0M | $2.5B | ||
| Q1 25 | $72.0M | $2.3B | ||
| Q4 24 | $1.5B | $1.7B | ||
| Q3 24 | $1.3B | $2.1B | ||
| Q2 24 | $462.0M | $1.7B | ||
| Q1 24 | $-37.0M | $1.4B |
自由现金流率HPQUBER
| Q4 25 | 9.7% | 19.5% | ||
| Q3 25 | 10.4% | 16.6% | ||
| Q2 25 | -1.1% | 19.6% | ||
| Q1 25 | 0.5% | 19.5% | ||
| Q4 24 | 10.5% | 14.3% | ||
| Q3 24 | 9.3% | 18.9% | ||
| Q2 24 | 3.6% | 16.1% | ||
| Q1 24 | -0.3% | 13.4% |
资本支出强度HPQUBER
| Q4 25 | 1.3% | 0.5% | ||
| Q3 25 | 1.5% | 0.7% | ||
| Q2 25 | 1.4% | 0.7% | ||
| Q1 25 | 2.2% | 0.6% | ||
| Q4 24 | 1.1% | 0.4% | ||
| Q3 24 | 1.2% | 0.4% | ||
| Q2 24 | 0.9% | 0.9% | ||
| Q1 24 | 1.2% | 0.6% |
现金转化率HPQUBER
| Q4 25 | 2.04× | 9.74× | ||
| Q3 25 | 2.18× | 0.35× | ||
| Q2 25 | 0.09× | 1.89× | ||
| Q1 25 | 0.66× | 1.31× | ||
| Q4 24 | 1.79× | 0.25× | ||
| Q3 24 | 2.23× | 0.82× | ||
| Q2 24 | 0.96× | 1.79× | ||
| Q1 24 | 0.19× | — |
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
HPQ
| Commercial PS | $7.0B | 48% |
| Consumer PS | $3.4B | 23% |
| Supplies | $2.8B | 19% |
| Commercial Printing | $1.2B | 8% |
| Consumer Printing | $296.0M | 2% |
| Corporate Investments | $19.0M | 0% |
UBER
| Mobility | $8.2B | 57% |
| Delivery | $4.9B | 34% |
| Freight | $1.3B | 9% |
