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Kenvue（KVUE）与泛林半导体（LRCX）财务数据对比。点击上方公司名可切换其他公司
泛林半导体的季度营收约是Kenvue的1.4倍（$5.3B vs $3.8B），泛林半导体净利率更高（29.8% vs 8.7%，领先21.1%），泛林半导体同比增速更快（22.1% vs 3.2%），泛林半导体自由现金流更多（$1.2B vs $744.0M），过去两年泛林半导体的营收复合增速更高（18.7% vs -1.5%）
Kenvue是美国消费者健康企业，前身为强生集团消费者健康业务部门，旗下拥有邦迪、李施德林、露得清、泰诺、强生婴儿、仙特明等诸多知名消费健康品牌，总部现位于美国新泽西州萨米特。
泛林半导体是美国面向半导体行业的晶圆制造设备及相关服务供应商，产品主要用于前道晶圆加工，生产半导体器件的有源组件与互连线路，同时也推出后道晶圆级封装、微机电系统（MEMS）等领域的相关制造设备。
KVUE vs LRCX — 直观对比
营收规模更大
LRCX
是对方的1.4倍
$3.8B
营收增速更快
LRCX
高出18.9%
3.2%
净利率更高
LRCX
高出21.1%
8.7%
自由现金流更多
LRCX
多$475.2M
$744.0M
两年增速更快
LRCX
近两年复合增速
-1.5%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $5.3B |
| 净利润 | $330.0M | $1.6B |
| 毛利率 | 56.5% | 49.6% |
| 营业利润率 | 14.2% | 33.9% |
| 净利率 | 8.7% | 29.8% |
| 营收同比 | 3.2% | 22.1% |
| 净利润同比 | 12.6% | 33.8% |
| 每股收益（稀释后） | $0.16 | $1.26 |
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KVUELRCX
| Q4 25 | $3.8B | $5.3B | ||
| Q3 25 | $3.8B | $5.3B | ||
| Q2 25 | $3.8B | $5.2B | ||
| Q1 25 | $3.7B | $4.7B | ||
| Q4 24 | $3.7B | $4.4B | ||
| Q3 24 | $3.9B | $4.2B | ||
| Q2 24 | $4.0B | $3.9B | ||
| Q1 24 | $3.9B | $3.8B |
净利润KVUELRCX
| Q4 25 | $330.0M | $1.6B | ||
| Q3 25 | $398.0M | $1.6B | ||
| Q2 25 | $420.0M | $1.7B | ||
| Q1 25 | $322.0M | $1.3B | ||
| Q4 24 | $293.0M | $1.2B | ||
| Q3 24 | $383.0M | $1.1B | ||
| Q2 24 | $58.0M | $1.0B | ||
| Q1 24 | $296.0M | $965.8M |
毛利率KVUELRCX
| Q4 25 | 56.5% | 49.6% | ||
| Q3 25 | 59.1% | 50.4% | ||
| Q2 25 | 58.9% | 50.1% | ||
| Q1 25 | 58.0% | 49.0% | ||
| Q4 24 | 56.5% | 47.4% | ||
| Q3 24 | 58.5% | 48.0% | ||
| Q2 24 | 59.1% | 47.5% | ||
| Q1 24 | 57.6% | 47.5% |
营业利润率KVUELRCX
| Q4 25 | 14.2% | 33.9% | ||
| Q3 25 | 16.7% | 34.4% | ||
| Q2 25 | 18.0% | 33.7% | ||
| Q1 25 | 14.9% | 33.1% | ||
| Q4 24 | 13.2% | 30.5% | ||
| Q3 24 | 16.8% | 30.3% | ||
| Q2 24 | 3.9% | 29.1% | ||
| Q1 24 | 14.1% | 27.9% |
净利率KVUELRCX
| Q4 25 | 8.7% | 29.8% | ||
| Q3 25 | 10.6% | 29.5% | ||
| Q2 25 | 10.9% | 33.3% | ||
| Q1 25 | 8.6% | 28.2% | ||
| Q4 24 | 8.0% | 27.2% | ||
| Q3 24 | 9.8% | 26.8% | ||
| Q2 24 | 1.5% | 26.4% | ||
| Q1 24 | 7.6% | 25.5% |
每股收益（稀释后）KVUELRCX
| Q4 25 | $0.16 | $1.26 | ||
| Q3 25 | $0.21 | $1.24 | ||
| Q2 25 | $0.22 | $1.34 | ||
| Q1 25 | $0.17 | $1.03 | ||
| Q4 24 | $0.16 | $0.92 | ||
| Q3 24 | $0.20 | $0.86 | ||
| Q2 24 | $0.03 | $7.78 | ||
| Q1 24 | $0.15 | $7.34 |
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 | $1.1B | $6.2B |
| 总债务越低越好 | — | $3.7B |
| 股东权益账面价值 | $10.8B | $10.1B |
| 总资产 | $27.1B | $21.4B |
| 负债/权益比越低杠杆越低 | — | 0.37× |
8季度趋势，按日历期对齐
现金及短期投资KVUELRCX
| Q4 25 | $1.1B | $6.2B | ||
| Q3 25 | $1.1B | $6.7B | ||
| Q2 25 | $1.1B | $6.4B | ||
| Q1 25 | $1.1B | $5.5B | ||
| Q4 24 | $1.1B | $5.7B | ||
| Q3 24 | $1.1B | $6.1B | ||
| Q2 24 | $1.0B | $5.8B | ||
| Q1 24 | $1.2B | $5.7B |
总债务KVUELRCX
| Q4 25 | — | $3.7B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $4.5B | ||
| Q1 24 | — | $4.5B |
股东权益KVUELRCX
| Q4 25 | $10.8B | $10.1B | ||
| Q3 25 | $10.6B | $10.2B | ||
| Q2 25 | $10.7B | $9.9B | ||
| Q1 25 | $10.1B | $9.5B | ||
| Q4 24 | $9.7B | $8.8B | ||
| Q3 24 | $10.6B | $8.5B | ||
| Q2 24 | $10.2B | $8.5B | ||
| Q1 24 | $10.6B | $8.0B |
总资产KVUELRCX
| Q4 25 | $27.1B | $21.4B | ||
| Q3 25 | $27.2B | $21.9B | ||
| Q2 25 | $27.1B | $21.3B | ||
| Q1 25 | $26.3B | $20.0B | ||
| Q4 24 | $25.6B | $19.8B | ||
| Q3 24 | $26.9B | $19.5B | ||
| Q2 24 | $26.4B | $18.7B | ||
| Q1 24 | $27.3B | $18.3B |
负债/权益比KVUELRCX
| Q4 25 | — | 0.37× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.38× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 0.52× | ||
| Q1 24 | — | 0.56× |
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 | $854.0M | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $744.0M | $1.2B |
| 自由现金流率自由现金流/营收 | 19.7% | 22.8% |
| 资本支出强度资本支出/营收 | 2.9% | 4.9% |
| 现金转化率经营现金流/净利润 | 2.59× | 0.93× |
| 过去12个月自由现金流最近4个季度 | $1.7B | $6.2B |
8季度趋势，按日历期对齐
经营现金流KVUELRCX
| Q4 25 | $854.0M | $1.5B | ||
| Q3 25 | $294.0M | $1.8B | ||
| Q2 25 | $621.0M | $2.6B | ||
| Q1 25 | $428.0M | $1.3B | ||
| Q4 24 | $793.0M | $741.9M | ||
| Q3 24 | $249.0M | $1.6B | ||
| Q2 24 | $440.0M | $862.4M | ||
| Q1 24 | $287.0M | $1.4B |
自由现金流KVUELRCX
| Q4 25 | $744.0M | $1.2B | ||
| Q3 25 | $196.0M | $1.6B | ||
| Q2 25 | $533.0M | $2.4B | ||
| Q1 25 | $249.0M | $1.0B | ||
| Q4 24 | $661.0M | $553.6M | ||
| Q3 24 | $190.0M | $1.5B | ||
| Q2 24 | $350.0M | $761.7M | ||
| Q1 24 | $134.0M | $1.3B |
自由现金流率KVUELRCX
| Q4 25 | 19.7% | 22.8% | ||
| Q3 25 | 5.2% | 29.9% | ||
| Q2 25 | 13.9% | 46.1% | ||
| Q1 25 | 6.7% | 21.6% | ||
| Q4 24 | 18.1% | 12.7% | ||
| Q3 24 | 4.9% | 35.0% | ||
| Q2 24 | 8.8% | 19.7% | ||
| Q1 24 | 3.4% | 33.8% |
资本支出强度KVUELRCX
| Q4 25 | 2.9% | 4.9% | ||
| Q3 25 | 2.6% | 3.5% | ||
| Q2 25 | 2.3% | 3.3% | ||
| Q1 25 | 4.8% | 6.1% | ||
| Q4 24 | 3.6% | 4.3% | ||
| Q3 24 | 1.5% | 2.7% | ||
| Q2 24 | 2.3% | 2.6% | ||
| Q1 24 | 3.9% | 2.7% |
现金转化率KVUELRCX
| Q4 25 | 2.59× | 0.93× | ||
| Q3 25 | 0.74× | 1.13× | ||
| Q2 25 | 1.48× | 1.48× | ||
| Q1 25 | 1.33× | 0.98× | ||
| Q4 24 | 2.71× | 0.62× | ||
| Q3 24 | 0.65× | 1.40× | ||
| Q2 24 | 7.59× | 0.85× | ||
| Q1 24 | 0.97× | 1.43× |
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
KVUE
| Self Care | $1.6B | 42% |
| Essential Health | $1.1B | 30% |
| Skin Health And Beauty | $1.0B | 28% |
LRCX
| System | $3.4B | 63% |
| Customer Supportand Other | $2.0B | 37% |
