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Meta Platforms（META）与网飞（NFLX）财务数据对比。点击上方公司名可切换其他公司
Meta Platforms的季度营收约是网飞的4.9倍（$59.9B vs $12.2B），网飞净利率更高（43.1% vs 38.0%，领先5.1%），Meta Platforms同比增速更快（23.8% vs 16.2%），Meta Platforms自由现金流更多（$14.8B vs $5.1B），过去两年Meta Platforms的营收复合增速更高（28.2% vs 13.2%）
Meta Platforms是总部位于美国加利福尼亚州门洛帕克的跨国科技巨头，属于全球头部科技企业阵营。旗下运营Facebook、Instagram、WhatsApp、Messenger、Threads等多款知名社交媒体及通讯服务，同时开展自有及第三方站点广告业务，2023年广告收入占其总营收的97.8%。
网飞是来自美国的会员制点播流媒体服务平台，主要提供不同品类的原创及引进电影、电视剧内容，业务覆盖全球众多国家和地区，支持多语言服务，致力于为全球用户提供多元优质的视听娱乐体验。
META vs NFLX — 直观对比
营收规模更大
META
是对方的4.9倍
$12.2B
营收增速更快
META
高出7.6%
16.2%
净利率更高
NFLX
高出5.1%
38.0%
自由现金流更多
META
多$9.7B
$5.1B
两年增速更快
META
近两年复合增速
13.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $59.9B | $12.2B |
| 净利润 | $22.8B | $5.3B |
| 毛利率 | 81.8% | 51.9% |
| 营业利润率 | 41.3% | 32.3% |
| 净利率 | 38.0% | 43.1% |
| 营收同比 | 23.8% | 16.2% |
| 净利润同比 | 9.3% | 82.8% |
| 每股收益（稀释后） | $8.87 | $1.23 |
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METANFLX
| Q1 26 | — | $12.2B | ||
| Q4 25 | $59.9B | $12.1B | ||
| Q3 25 | $51.2B | $11.5B | ||
| Q2 25 | $47.5B | $11.1B | ||
| Q1 25 | $42.3B | $10.5B | ||
| Q4 24 | $48.4B | $10.2B | ||
| Q3 24 | $40.6B | $9.8B | ||
| Q2 24 | $39.1B | $9.6B |
净利润METANFLX
| Q1 26 | — | $5.3B | ||
| Q4 25 | $22.8B | $2.4B | ||
| Q3 25 | $2.7B | $2.5B | ||
| Q2 25 | $18.3B | $3.1B | ||
| Q1 25 | $16.6B | $2.9B | ||
| Q4 24 | $20.8B | $1.9B | ||
| Q3 24 | $15.7B | $2.4B | ||
| Q2 24 | $13.5B | $2.1B |
毛利率METANFLX
| Q1 26 | — | 51.9% | ||
| Q4 25 | 81.8% | 45.9% | ||
| Q3 25 | 82.0% | 46.4% | ||
| Q2 25 | 82.1% | 51.9% | ||
| Q1 25 | 82.1% | 50.1% | ||
| Q4 24 | 81.7% | 43.7% | ||
| Q3 24 | 81.8% | 47.9% | ||
| Q2 24 | 81.3% | 45.9% |
营业利润率METANFLX
| Q1 26 | — | 32.3% | ||
| Q4 25 | 41.3% | 24.5% | ||
| Q3 25 | 40.1% | 28.2% | ||
| Q2 25 | 43.0% | 34.1% | ||
| Q1 25 | 41.5% | 31.7% | ||
| Q4 24 | 48.3% | 22.2% | ||
| Q3 24 | 42.7% | 29.6% | ||
| Q2 24 | 38.0% | 27.2% |
净利率METANFLX
| Q1 26 | — | 43.1% | ||
| Q4 25 | 38.0% | 20.1% | ||
| Q3 25 | 5.3% | 22.1% | ||
| Q2 25 | 38.6% | 28.2% | ||
| Q1 25 | 39.3% | 27.4% | ||
| Q4 24 | 43.1% | 18.2% | ||
| Q3 24 | 38.7% | 24.1% | ||
| Q2 24 | 34.5% | 22.5% |
每股收益（稀释后）METANFLX
| Q1 26 | — | $1.23 | ||
| Q4 25 | $8.87 | $-17.14 | ||
| Q3 25 | $1.05 | $5.87 | ||
| Q2 25 | $7.14 | $7.19 | ||
| Q1 25 | $6.43 | $0.66 | ||
| Q4 24 | $7.96 | $4.27 | ||
| Q3 24 | $6.03 | $5.40 | ||
| Q2 24 | $5.16 | $4.88 |
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 | $81.6B | $12.3B |
| 总债务越低越好 | $58.7B | $13.4B |
| 股东权益账面价值 | $217.2B | $31.1B |
| 总资产 | $366.0B | $61.0B |
| 负债/权益比越低杠杆越低 | 0.27× | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资METANFLX
| Q1 26 | — | $12.3B | ||
| Q4 25 | $81.6B | $9.1B | ||
| Q3 25 | $44.4B | $9.3B | ||
| Q2 25 | $47.1B | $8.4B | ||
| Q1 25 | $70.2B | $8.4B | ||
| Q4 24 | $77.8B | $9.6B | ||
| Q3 24 | $70.9B | $9.2B | ||
| Q2 24 | $58.1B | $6.7B |
总债务METANFLX
| Q1 26 | — | $13.4B | ||
| Q4 25 | $58.7B | $13.5B | ||
| Q3 25 | — | $14.5B | ||
| Q2 25 | — | $14.5B | ||
| Q1 25 | — | $14.0B | ||
| Q4 24 | $28.8B | $13.8B | ||
| Q3 24 | $28.8B | $14.2B | ||
| Q2 24 | — | $12.2B |
股东权益METANFLX
| Q1 26 | — | $31.1B | ||
| Q4 25 | $217.2B | $26.6B | ||
| Q3 25 | $194.1B | $26.0B | ||
| Q2 25 | $195.1B | $25.0B | ||
| Q1 25 | $185.0B | $24.0B | ||
| Q4 24 | $182.6B | $24.7B | ||
| Q3 24 | $164.5B | $22.7B | ||
| Q2 24 | $156.8B | $22.1B |
总资产METANFLX
| Q1 26 | — | $61.0B | ||
| Q4 25 | $366.0B | $55.6B | ||
| Q3 25 | $303.8B | $54.9B | ||
| Q2 25 | $294.7B | $53.1B | ||
| Q1 25 | $280.2B | $52.1B | ||
| Q4 24 | $276.1B | $53.6B | ||
| Q3 24 | $256.4B | $52.3B | ||
| Q2 24 | $230.2B | $49.1B |
负债/权益比METANFLX
| Q1 26 | — | 0.43× | ||
| Q4 25 | 0.27× | 0.51× | ||
| Q3 25 | — | 0.56× | ||
| Q2 25 | — | 0.58× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | 0.16× | 0.56× | ||
| Q3 24 | 0.18× | 0.62× | ||
| Q2 24 | — | 0.55× |
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 | $36.2B | $5.3B |
| 自由现金流经营现金流 - 资本支出 | $14.8B | $5.1B |
| 自由现金流率自由现金流/营收 | 24.8% | 41.6% |
| 资本支出强度资本支出/营收 | 35.7% | 1.6% |
| 现金转化率经营现金流/净利润 | 1.59× | 1.00× |
| 过去12个月自由现金流最近4个季度 | $46.1B | $11.9B |
8季度趋势，按日历期对齐
经营现金流METANFLX
| Q1 26 | — | $5.3B | ||
| Q4 25 | $36.2B | $2.1B | ||
| Q3 25 | $30.0B | $2.8B | ||
| Q2 25 | $25.6B | $2.4B | ||
| Q1 25 | $24.0B | $2.8B | ||
| Q4 24 | $28.0B | $1.5B | ||
| Q3 24 | $24.7B | $2.3B | ||
| Q2 24 | $19.4B | $1.3B |
自由现金流METANFLX
| Q1 26 | — | $5.1B | ||
| Q4 25 | $14.8B | $1.9B | ||
| Q3 25 | $11.2B | $2.7B | ||
| Q2 25 | $9.0B | $2.3B | ||
| Q1 25 | $11.1B | $2.7B | ||
| Q4 24 | $13.6B | $1.4B | ||
| Q3 24 | $16.5B | $2.2B | ||
| Q2 24 | $11.2B | $1.2B |
自由现金流率METANFLX
| Q1 26 | — | 41.6% | ||
| Q4 25 | 24.8% | 15.5% | ||
| Q3 25 | 21.8% | 23.1% | ||
| Q2 25 | 19.0% | 20.5% | ||
| Q1 25 | 26.2% | 25.2% | ||
| Q4 24 | 28.0% | 13.5% | ||
| Q3 24 | 40.6% | 22.3% | ||
| Q2 24 | 28.7% | 12.7% |
资本支出强度METANFLX
| Q1 26 | — | 1.6% | ||
| Q4 25 | 35.7% | 2.0% | ||
| Q3 25 | 36.7% | 1.4% | ||
| Q2 25 | 34.8% | 1.4% | ||
| Q1 25 | 30.6% | 1.2% | ||
| Q4 24 | 29.8% | 1.5% | ||
| Q3 24 | 20.3% | 1.3% | ||
| Q2 24 | 20.9% | 0.8% |
现金转化率METANFLX
| Q1 26 | — | 1.00× | ||
| Q4 25 | 1.59× | 0.87× | ||
| Q3 25 | 11.07× | 1.11× | ||
| Q2 25 | 1.39× | 0.78× | ||
| Q1 25 | 1.44× | 0.97× | ||
| Q4 24 | 1.34× | 0.82× | ||
| Q3 24 | 1.58× | 0.98× | ||
| Q2 24 | 1.44× | 0.60× |
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
META
| Advertising | $58.1B | 97% |
| Reality Labs | $955.0M | 2% |
| Service Other | $801.0M | 1% |
NFLX
暂无分部数据
