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摩根大通（JPM）与英伟达（NVDA）财务数据对比。点击上方公司名可切换其他公司
英伟达的季度营收约是摩根大通的1.5倍（$68.1B vs $45.8B），英伟达净利率更高（63.1% vs 28.4%，领先34.6%）
摩根大通是总部位于美国纽约、在特拉华州注册的跨国银行机构，为美国四大银行之首，截至2025年是全球市值最高的银行，被金融稳定委员会认定为系统重要性金融机构，业务覆盖全球各地，为各类客户提供综合金融服务。
英伟达是总部位于美国加利福尼亚州圣克拉拉的科技企业，1993年由黄仁勋、克里斯·马拉科夫斯基、柯蒂斯·普里姆联合创立。公司主营图形处理器（GPU）、系统级芯片（SoC）及应用程序接口（API）产品，覆盖数据科学、高性能计算、游戏、移动与车载应用等领域，是全球知名的头部科技企业之一。
JPM vs NVDA — 直观对比
营收规模更大
NVDA
是对方的1.5倍
$45.8B
净利率更高
NVDA
高出34.6%
28.4%
损益表 — Q4 FY2025 vs Q4 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $45.8B | $68.1B |
| 净利润 | $13.0B | $43.0B |
| 毛利率 | — | 75.0% |
| 营业利润率 | 37.5% | 65.0% |
| 净利率 | 28.4% | 63.1% |
| 营收同比 | — | 73.2% |
| 净利润同比 | — | 94.5% |
| 每股收益（稀释后） | $4.64 | $1.76 |
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JPMNVDA
| Q1 26 | — | $68.1B | ||
| Q4 25 | $45.8B | $57.0B | ||
| Q3 25 | $46.4B | $46.7B | ||
| Q2 25 | $44.9B | $44.1B | ||
| Q1 25 | $45.3B | $39.3B | ||
| Q4 24 | — | $35.1B | ||
| Q3 24 | $42.7B | $30.0B | ||
| Q2 24 | $50.2B | $26.0B |
净利润JPMNVDA
| Q1 26 | — | $43.0B | ||
| Q4 25 | $13.0B | $31.9B | ||
| Q3 25 | $14.4B | $26.4B | ||
| Q2 25 | $15.0B | $18.8B | ||
| Q1 25 | $14.6B | $22.1B | ||
| Q4 24 | — | $19.3B | ||
| Q3 24 | $12.9B | $16.6B | ||
| Q2 24 | $18.1B | $14.9B |
毛利率JPMNVDA
| Q1 26 | — | 75.0% | ||
| Q4 25 | — | 73.4% | ||
| Q3 25 | — | 72.4% | ||
| Q2 25 | — | 60.5% | ||
| Q1 25 | — | 73.0% | ||
| Q4 24 | — | 74.6% | ||
| Q3 24 | — | 75.1% | ||
| Q2 24 | — | 78.4% |
营业利润率JPMNVDA
| Q1 26 | — | 65.0% | ||
| Q4 25 | 37.5% | 63.2% | ||
| Q3 25 | 40.4% | 60.8% | ||
| Q2 25 | 40.7% | 49.1% | ||
| Q1 25 | 40.6% | 61.1% | ||
| Q4 24 | — | 62.3% | ||
| Q3 24 | 39.8% | 62.1% | ||
| Q2 24 | 46.7% | 64.9% |
净利率JPMNVDA
| Q1 26 | — | 63.1% | ||
| Q4 25 | 28.4% | 56.0% | ||
| Q3 25 | 31.0% | 56.5% | ||
| Q2 25 | 33.4% | 42.6% | ||
| Q1 25 | 32.3% | 56.2% | ||
| Q4 24 | — | 55.0% | ||
| Q3 24 | 30.2% | 55.3% | ||
| Q2 24 | 36.2% | 57.1% |
每股收益（稀释后）JPMNVDA
| Q1 26 | — | $1.76 | ||
| Q4 25 | $4.64 | $1.30 | ||
| Q3 25 | $5.07 | $1.08 | ||
| Q2 25 | $5.24 | $0.76 | ||
| Q1 25 | $5.07 | $-4.49 | ||
| Q4 24 | — | $0.78 | ||
| Q3 24 | $4.37 | $0.67 | ||
| Q2 24 | $6.12 | $5.98 |
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 | — | $10.6B |
| 总债务越低越好 | — | $8.5B |
| 股东权益账面价值 | $362.4B | $157.3B |
| 总资产 | $4424.9B | $206.8B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资JPMNVDA
| Q1 26 | — | $10.6B | ||
| Q4 25 | — | $60.6B | ||
| Q3 25 | — | $56.8B | ||
| Q2 25 | — | $53.7B | ||
| Q1 25 | — | $43.2B | ||
| Q4 24 | — | $38.5B | ||
| Q3 24 | — | $34.8B | ||
| Q2 24 | — | $31.4B |
总债务JPMNVDA
| Q1 26 | — | $8.5B | ||
| Q4 25 | — | $8.5B | ||
| Q3 25 | — | $8.5B | ||
| Q2 25 | — | $8.5B | ||
| Q1 25 | — | $8.5B | ||
| Q4 24 | — | $8.5B | ||
| Q3 24 | — | $8.5B | ||
| Q2 24 | — | $9.7B |
股东权益JPMNVDA
| Q1 26 | — | $157.3B | ||
| Q4 25 | $362.4B | $118.9B | ||
| Q3 25 | $360.2B | $100.1B | ||
| Q2 25 | $356.9B | $83.8B | ||
| Q1 25 | $351.4B | $79.3B | ||
| Q4 24 | — | $65.9B | ||
| Q3 24 | $345.8B | $58.2B | ||
| Q2 24 | $340.6B | $49.1B |
总资产JPMNVDA
| Q1 26 | — | $206.8B | ||
| Q4 25 | $4424.9B | $161.1B | ||
| Q3 25 | $4560.2B | $140.7B | ||
| Q2 25 | $4552.5B | $125.3B | ||
| Q1 25 | $4357.9B | $111.6B | ||
| Q4 24 | — | $96.0B | ||
| Q3 24 | $4210.0B | $85.2B | ||
| Q2 24 | $4143.0B | $77.1B |
负债/权益比JPMNVDA
| Q1 26 | — | 0.05× | ||
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.08× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.20× |
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 | $119.7B | $36.2B |
| 自由现金流经营现金流 - 资本支出 | — | $34.9B |
| 自由现金流率自由现金流/营收 | — | 51.2% |
| 资本支出强度资本支出/营收 | — | 1.9% |
| 现金转化率经营现金流/净利润 | 9.19× | 0.84× |
| 过去12个月自由现金流最近4个季度 | — | $96.7B |
8季度趋势，按日历期对齐
经营现金流JPMNVDA
| Q1 26 | — | $36.2B | ||
| Q4 25 | $119.7B | $23.8B | ||
| Q3 25 | $-45.2B | $15.4B | ||
| Q2 25 | $29.5B | $27.4B | ||
| Q1 25 | $-251.8B | $16.6B | ||
| Q4 24 | — | $17.6B | ||
| Q3 24 | — | $14.5B | ||
| Q2 24 | — | $15.3B |
自由现金流JPMNVDA
| Q1 26 | — | $34.9B | ||
| Q4 25 | — | $22.1B | ||
| Q3 25 | — | $13.5B | ||
| Q2 25 | — | $26.2B | ||
| Q1 25 | — | $15.6B | ||
| Q4 24 | — | $16.8B | ||
| Q3 24 | — | $13.5B | ||
| Q2 24 | — | $15.0B |
自由现金流率JPMNVDA
| Q1 26 | — | 51.2% | ||
| Q4 25 | — | 38.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 59.4% | ||
| Q1 25 | — | 39.5% | ||
| Q4 24 | — | 47.9% | ||
| Q3 24 | — | 45.0% | ||
| Q2 24 | — | 57.5% |
资本支出强度JPMNVDA
| Q1 26 | — | 1.9% | ||
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 2.7% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 3.3% | ||
| Q2 24 | — | 1.4% |
现金转化率JPMNVDA
| Q1 26 | — | 0.84× | ||
| Q4 25 | 9.19× | 0.74× | ||
| Q3 25 | -3.14× | 0.58× | ||
| Q2 25 | 1.97× | 1.46× | ||
| Q1 25 | -17.20× | 0.75× | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | 0.87× | ||
| Q2 24 | — | 1.03× |
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
JPM
| Other | $19.7B | 43% |
| Commercial And Investment Bank | $19.4B | 42% |
| Assetand Wealth Management Segment | $6.5B | 14% |
| Consumer Community Banking | $188.0M | 0% |
NVDA
| Compute | $51.3B | 75% |
| Networking | $11.0B | 16% |
| Gaming | $3.7B | 5% |
| Professional Visualization | $1.3B | 2% |
| Automotive | $604.0M | 1% |
| OEM And Other | $161.0M | 0% |
| Inventory Purchase Obligations In Excess Of Projections | $31.0M | 0% |
