vs
Lowe's（LOW）与美超微（SMCI）财务数据对比。点击上方公司名可切换其他公司
Lowe's的季度营收约是美超微的1.6倍（$20.8B vs $12.7B），Lowe's净利率更高（7.8% vs 3.2%，领先4.6%），美超微同比增速更快（123.4% vs 3.2%），Lowe's自由现金流更多（$90.0M vs $-45.1M），过去两年美超微的营收复合增速更高（81.5% vs -8.7%）
Lowe's是美国知名家居建材零售企业，总部位于北卡罗来纳州穆尔斯维尔，主营家居改善类相关产品的线下零售业务。截至2022年10月，该公司及旗下关联业务在北美地区共运营2181家家居建材及五金门店，服务普通消费者及专业装修从业人员。
美超微是总部位于美国加利福尼亚州圣何塞的信息技术企业，是全球高性能、高能效服务器的主要生产商之一，同时面向企业数据中心、云计算、人工智能、5G、边缘计算等多领域客户提供服务器管理软件及存储系统解决方案。
LOW vs SMCI — 直观对比
营收规模更大
LOW
是对方的1.6倍
$12.7B
营收增速更快
SMCI
高出120.2%
3.2%
净利率更高
LOW
高出4.6%
3.2%
自由现金流更多
LOW
多$135.1M
$-45.1M
两年增速更快
SMCI
近两年复合增速
-8.7%
损益表 — Q3 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $20.8B | $12.7B |
| 净利润 | $1.6B | $400.6M |
| 毛利率 | 34.2% | 6.3% |
| 营业利润率 | 11.9% | 3.7% |
| 净利率 | 7.8% | 3.2% |
| 营收同比 | 3.2% | 123.4% |
| 净利润同比 | -4.7% | 24.9% |
| 每股收益（稀释后） | $2.88 | $0.60 |
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LOWSMCI
| Q4 25 | $20.8B | $12.7B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | $20.9B | $5.8B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | $20.2B | $5.7B | ||
| Q3 24 | $23.6B | $5.9B | ||
| Q2 24 | $21.4B | $5.4B | ||
| Q1 24 | $18.6B | $3.9B |
净利润LOWSMCI
| Q4 25 | $1.6B | $400.6M | ||
| Q3 25 | — | $168.3M | ||
| Q2 25 | $1.6B | $195.2M | ||
| Q1 25 | — | $108.8M | ||
| Q4 24 | $1.7B | $320.6M | ||
| Q3 24 | $2.4B | $424.3M | ||
| Q2 24 | $1.8B | $297.2M | ||
| Q1 24 | $1.0B | $402.5M |
毛利率LOWSMCI
| Q4 25 | 34.2% | 6.3% | ||
| Q3 25 | — | 9.3% | ||
| Q2 25 | 33.4% | 9.5% | ||
| Q1 25 | — | 9.6% | ||
| Q4 24 | 33.7% | 11.8% | ||
| Q3 24 | 33.5% | 13.1% | ||
| Q2 24 | 33.2% | 10.2% | ||
| Q1 24 | 32.4% | 15.5% |
营业利润率LOWSMCI
| Q4 25 | 11.9% | 3.7% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | 11.9% | 4.0% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | 12.6% | 6.5% | ||
| Q3 24 | 14.6% | 8.6% | ||
| Q2 24 | 12.4% | 5.4% | ||
| Q1 24 | 9.1% | 9.8% |
净利率LOWSMCI
| Q4 25 | 7.8% | 3.2% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | 7.8% | 3.4% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | 8.4% | 5.6% | ||
| Q3 24 | 10.1% | 7.1% | ||
| Q2 24 | 8.2% | 5.6% | ||
| Q1 24 | 5.5% | 10.5% |
每股收益（稀释后）LOWSMCI
| Q4 25 | $2.88 | $0.60 | ||
| Q3 25 | — | $0.26 | ||
| Q2 25 | $2.92 | $0.33 | ||
| Q1 25 | — | $0.17 | ||
| Q4 24 | $2.99 | $0.51 | ||
| Q3 24 | $4.17 | $0.67 | ||
| Q2 24 | $3.06 | $-12.49 | ||
| Q1 24 | $1.81 | $6.56 |
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 | $1.0B | $4.1B |
| 总债务越低越好 | $37.5B | — |
| 股东权益账面价值 | $-10.4B | $7.0B |
| 总资产 | $53.5B | $28.0B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资LOWSMCI
| Q4 25 | $1.0B | $4.1B | ||
| Q3 25 | — | $4.2B | ||
| Q2 25 | $3.4B | $5.2B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | $3.6B | $1.4B | ||
| Q3 24 | $4.7B | $2.1B | ||
| Q2 24 | $3.5B | $1.7B | ||
| Q1 24 | $1.2B | $2.1B |
总债务LOWSMCI
| Q4 25 | $37.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $30.5B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $32.9B | — | ||
| Q3 24 | $34.7B | — | ||
| Q2 24 | $34.6B | — | ||
| Q1 24 | $35.4B | — |
股东权益LOWSMCI
| Q4 25 | $-10.4B | $7.0B | ||
| Q3 25 | — | $6.5B | ||
| Q2 25 | $-13.3B | $6.3B | ||
| Q1 25 | — | $6.4B | ||
| Q4 24 | $-13.4B | $6.2B | ||
| Q3 24 | $-13.8B | $5.9B | ||
| Q2 24 | $-14.6B | $5.4B | ||
| Q1 24 | $-15.1B | $5.1B |
总资产LOWSMCI
| Q4 25 | $53.5B | $28.0B | ||
| Q3 25 | — | $14.4B | ||
| Q2 25 | $45.4B | $14.0B | ||
| Q1 25 | — | $10.7B | ||
| Q4 24 | $44.7B | $9.7B | ||
| Q3 24 | $44.9B | $10.9B | ||
| Q2 24 | $45.4B | $9.8B | ||
| Q1 24 | $41.8B | $8.9B |
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 | $687.0M | $-23.9M |
| 自由现金流经营现金流 - 资本支出 | $90.0M | $-45.1M |
| 自由现金流率自由现金流/营收 | 0.4% | -0.4% |
| 资本支出强度资本支出/营收 | 2.9% | 0.2% |
| 现金转化率经营现金流/净利润 | 0.43× | -0.06× |
| 过去12个月自由现金流最近4个季度 | $6.4B | $440.1M |
8季度趋势，按日历期对齐
经营现金流LOWSMCI
| Q4 25 | $687.0M | $-23.9M | ||
| Q3 25 | — | $-917.5M | ||
| Q2 25 | $3.4B | $863.6M | ||
| Q1 25 | — | $626.8M | ||
| Q4 24 | $1.3B | $-239.8M | ||
| Q3 24 | $3.2B | $408.9M | ||
| Q2 24 | $4.3B | $-641.8M | ||
| Q1 24 | $1.1B | $-1.5B |
自由现金流LOWSMCI
| Q4 25 | $90.0M | $-45.1M | ||
| Q3 25 | — | $-949.8M | ||
| Q2 25 | $2.9B | $840.9M | ||
| Q1 25 | — | $594.1M | ||
| Q4 24 | $728.0M | $-267.3M | ||
| Q3 24 | $2.7B | $364.6M | ||
| Q2 24 | $3.9B | $-655.8M | ||
| Q1 24 | $488.0M | $-1.6B |
自由现金流率LOWSMCI
| Q4 25 | 0.4% | -0.4% | ||
| Q3 25 | — | -18.9% | ||
| Q2 25 | 13.7% | 14.6% | ||
| Q1 25 | — | 12.9% | ||
| Q4 24 | 3.6% | -4.7% | ||
| Q3 24 | 11.6% | 6.1% | ||
| Q2 24 | 18.2% | -12.2% | ||
| Q1 24 | 2.6% | -41.9% |
资本支出强度LOWSMCI
| Q4 25 | 2.9% | 0.2% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | 2.5% | 0.4% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | 2.8% | 0.5% | ||
| Q3 24 | 1.8% | 0.7% | ||
| Q2 24 | 1.8% | 0.3% | ||
| Q1 24 | 3.3% | 2.4% |
现金转化率LOWSMCI
| Q4 25 | 0.43× | -0.06× | ||
| Q3 25 | — | -5.45× | ||
| Q2 25 | 2.06× | 4.43× | ||
| Q1 25 | — | 5.76× | ||
| Q4 24 | 0.77× | -0.75× | ||
| Q3 24 | 1.32× | 0.96× | ||
| Q2 24 | 2.43× | -2.16× | ||
| Q1 24 | 1.09× | -3.78× |
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
LOW
| Home Decor | $7.8B | 37% |
| Building Products | $6.9B | 33% |
| Hardlines | $5.1B | 25% |
| Services | $753.0M | 4% |
| Other | $384.0M | 2% |
SMCI
暂无分部数据
