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KLA Corporation（KLAC）与西湖化学（WLK）财务数据对比。点击上方公司名可切换其他公司
KLA Corporation的季度营收约是西湖化学的1.3倍（$3.3B vs $2.5B），KLA Corporation净利率更高（34.7% vs -21.5%，领先56.2%），KLA Corporation同比增速更快（7.2% vs -10.9%），KLA Corporation自由现金流更多（$1.3B vs $-16.0M），过去两年KLA Corporation的营收复合增速更高（18.2% vs -7.7%）
KLA Corporation是总部位于美国加利福尼亚州米尔皮塔斯的企业，主营晶圆制造设备，为半导体及相关纳米电子行业提供过程控制与良率管理系统，产品及服务覆盖晶圆、光罩、集成电路、封装生产从研发到批量制造的全流程。
西湖化学是国际知名的石化产品、聚合物及装配式建筑产品生产商与供应商，产品广泛应用于各类消费及工业市场。公司1986年由赵廷箴创立，是美国最大的低密度聚乙烯生产商，位列福布斯全球2000强，业务分为烯烃和乙烯基两大板块，具备乙烯基产品下游一体化生产能力。
KLAC vs WLK — 直观对比
营收规模更大
KLAC
是对方的1.3倍
$2.5B
营收增速更快
KLAC
高出18.1%
-10.9%
净利率更高
KLAC
高出56.2%
-21.5%
自由现金流更多
KLAC
多$1.3B
$-16.0M
两年增速更快
KLAC
近两年复合增速
-7.7%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $2.5B |
| 净利润 | $1.1B | $-544.0M |
| 毛利率 | 61.4% | 3.4% |
| 营业利润率 | — | -26.5% |
| 净利率 | 34.7% | -21.5% |
| 营收同比 | 7.2% | -10.9% |
| 净利润同比 | 39.0% | -7871.4% |
| 每股收益（稀释后） | $8.68 | $-4.22 |
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KLACWLK
| Q4 25 | $3.3B | $2.5B | ||
| Q3 25 | $3.2B | $2.8B | ||
| Q2 25 | $3.2B | $3.0B | ||
| Q1 25 | $3.1B | $2.8B | ||
| Q4 24 | $3.1B | $2.8B | ||
| Q3 24 | $2.8B | $3.1B | ||
| Q2 24 | $2.6B | $3.2B | ||
| Q1 24 | $2.4B | $3.0B |
净利润KLACWLK
| Q4 25 | $1.1B | $-544.0M | ||
| Q3 25 | $1.1B | $-782.0M | ||
| Q2 25 | $1.2B | $-142.0M | ||
| Q1 25 | $1.1B | $-40.0M | ||
| Q4 24 | $824.5M | $7.0M | ||
| Q3 24 | $945.9M | $108.0M | ||
| Q2 24 | $836.4M | $313.0M | ||
| Q1 24 | $601.5M | $174.0M |
毛利率KLACWLK
| Q4 25 | 61.4% | 3.4% | ||
| Q3 25 | 61.3% | 8.3% | ||
| Q2 25 | 62.0% | 8.7% | ||
| Q1 25 | 61.6% | 8.2% | ||
| Q4 24 | 60.3% | 11.5% | ||
| Q3 24 | 59.6% | 16.0% | ||
| Q2 24 | 60.7% | 20.7% | ||
| Q1 24 | 57.9% | 15.7% |
营业利润率KLACWLK
| Q4 25 | — | -26.5% | ||
| Q3 25 | — | -27.0% | ||
| Q2 25 | 41.9% | -3.7% | ||
| Q1 25 | 41.3% | -1.1% | ||
| Q4 24 | 31.6% | 2.3% | ||
| Q3 24 | 38.0% | 5.8% | ||
| Q2 24 | 36.8% | 12.7% | ||
| Q1 24 | 29.7% | 7.5% |
净利率KLACWLK
| Q4 25 | 34.7% | -21.5% | ||
| Q3 25 | 34.9% | -27.6% | ||
| Q2 25 | 37.9% | -4.8% | ||
| Q1 25 | 35.5% | -1.4% | ||
| Q4 24 | 26.8% | 0.2% | ||
| Q3 24 | 33.3% | 3.5% | ||
| Q2 24 | 32.6% | 9.8% | ||
| Q1 24 | 25.5% | 5.8% |
每股收益（稀释后）KLACWLK
| Q4 25 | $8.68 | $-4.22 | ||
| Q3 25 | $8.47 | $-6.06 | ||
| Q2 25 | $9.04 | $-1.11 | ||
| Q1 25 | $8.16 | $-0.31 | ||
| Q4 24 | $6.16 | $0.07 | ||
| Q3 24 | $7.01 | $0.83 | ||
| Q2 24 | $6.16 | $2.40 | ||
| Q1 24 | $4.43 | $1.34 |
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 | $2.5B | $2.7B |
| 总债务越低越好 | $5.9B | $5.6B |
| 股东权益账面价值 | $5.5B | $8.8B |
| 总资产 | $16.7B | $20.0B |
| 负债/权益比越低杠杆越低 | 1.08× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资KLACWLK
| Q4 25 | $2.5B | $2.7B | ||
| Q3 25 | $1.9B | $1.9B | ||
| Q2 25 | $2.1B | $2.1B | ||
| Q1 25 | $1.9B | $2.3B | ||
| Q4 24 | $1.8B | $2.9B | ||
| Q3 24 | $2.0B | $2.9B | ||
| Q2 24 | $2.0B | $3.0B | ||
| Q1 24 | $1.8B | $3.1B |
总债务KLACWLK
| Q4 25 | $5.9B | $5.6B | ||
| Q3 25 | $5.9B | $4.7B | ||
| Q2 25 | $5.9B | $4.7B | ||
| Q1 25 | $5.9B | $4.6B | ||
| Q4 24 | $5.9B | $4.6B | ||
| Q3 24 | $5.9B | $4.6B | ||
| Q2 24 | $5.9B | $4.9B | ||
| Q1 24 | $5.9B | $4.9B |
股东权益KLACWLK
| Q4 25 | $5.5B | $8.8B | ||
| Q3 25 | $5.0B | $9.4B | ||
| Q2 25 | $4.7B | $10.3B | ||
| Q1 25 | $4.0B | $10.4B | ||
| Q4 24 | $3.6B | $10.5B | ||
| Q3 24 | $3.6B | $10.7B | ||
| Q2 24 | $3.4B | $10.6B | ||
| Q1 24 | $3.1B | $10.3B |
总资产KLACWLK
| Q4 25 | $16.7B | $20.0B | ||
| Q3 25 | $16.3B | $19.8B | ||
| Q2 25 | $16.1B | $20.8B | ||
| Q1 25 | $15.2B | $20.7B | ||
| Q4 24 | $15.0B | $20.8B | ||
| Q3 24 | $15.7B | $21.1B | ||
| Q2 24 | $15.4B | $21.1B | ||
| Q1 24 | $15.0B | $21.0B |
负债/权益比KLACWLK
| Q4 25 | 1.08× | 0.64× | ||
| Q3 25 | 1.18× | 0.49× | ||
| Q2 25 | 1.25× | 0.45× | ||
| Q1 25 | 1.47× | 0.44× | ||
| Q4 24 | 1.64× | 0.43× | ||
| Q3 24 | 1.65× | 0.43× | ||
| Q2 24 | 1.75× | 0.46× | ||
| Q1 24 | 1.90× | 0.47× |
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 | $1.4B | $225.0M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $-16.0M |
| 自由现金流率自由现金流/营收 | 38.3% | -0.6% |
| 资本支出强度资本支出/营收 | 3.2% | 9.5% |
| 现金转化率经营现金流/净利润 | 1.19× | — |
| 过去12个月自由现金流最近4个季度 | $4.4B | $-530.0M |
8季度趋势，按日历期对齐
经营现金流KLACWLK
| Q4 25 | $1.4B | $225.0M | ||
| Q3 25 | $1.2B | $182.0M | ||
| Q2 25 | $1.2B | $135.0M | ||
| Q1 25 | $1.1B | $-77.0M | ||
| Q4 24 | $849.5M | $434.0M | ||
| Q3 24 | $995.2M | $474.0M | ||
| Q2 24 | $892.6M | $237.0M | ||
| Q1 24 | $910.0M | $169.0M |
自由现金流KLACWLK
| Q4 25 | $1.3B | $-16.0M | ||
| Q3 25 | $1.1B | $-57.0M | ||
| Q2 25 | $1.1B | $-132.0M | ||
| Q1 25 | $990.0M | $-325.0M | ||
| Q4 24 | $757.2M | $149.0M | ||
| Q3 24 | $934.8M | $254.0M | ||
| Q2 24 | $831.9M | $6.0M | ||
| Q1 24 | $838.2M | $-103.0M |
自由现金流率KLACWLK
| Q4 25 | 38.3% | -0.6% | ||
| Q3 25 | 33.2% | -2.0% | ||
| Q2 25 | 33.5% | -4.5% | ||
| Q1 25 | 32.3% | -11.4% | ||
| Q4 24 | 24.6% | 5.2% | ||
| Q3 24 | 32.9% | 8.1% | ||
| Q2 24 | 32.4% | 0.2% | ||
| Q1 24 | 35.5% | -3.5% |
资本支出强度KLACWLK
| Q4 25 | 3.2% | 9.5% | ||
| Q3 25 | 3.0% | 8.4% | ||
| Q2 25 | 3.2% | 9.0% | ||
| Q1 25 | 2.7% | 8.7% | ||
| Q4 24 | 3.0% | 10.0% | ||
| Q3 24 | 2.1% | 7.1% | ||
| Q2 24 | 2.4% | 7.2% | ||
| Q1 24 | 3.0% | 9.1% |
现金转化率KLACWLK
| Q4 25 | 1.19× | — | ||
| Q3 25 | 1.04× | — | ||
| Q2 25 | 0.97× | — | ||
| Q1 25 | 0.99× | — | ||
| Q4 24 | 1.03× | 62.00× | ||
| Q3 24 | 1.05× | 4.39× | ||
| Q2 24 | 1.07× | 0.76× | ||
| Q1 24 | 1.51× | 0.97× |
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
KLAC
| Wafer Inspection | $1.6B | 48% |
| Services | $786.1M | 24% |
| Patterning | $696.2M | 21% |
| Specialty Semiconductor Process | $121.6M | 4% |
| PCB And Component Inspection | $80.3M | 2% |
| Other Revenue | $40.2M | 1% |
WLK
| Performance Materials | $930.0M | 37% |
| Housing Products | $767.0M | 30% |
| Essential Materials | $702.0M | 28% |
| Infrastructure Products | $134.0M | 5% |
