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Meta Platforms（META）与台积电（TSM）财务数据对比。点击上方公司名可切换其他公司
Meta Platforms的季度营收约是台积电的1.7倍（$59.9B vs $35.5B），台积电净利率更高（50.5% vs 38.0%，领先12.5%）
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%。
台积电是全球规模最大的专业独立半导体晶圆代工厂，总部位于中国台湾新竹，主要为无晶圆厂客户代工生产先进逻辑芯片，服务客户包括苹果、英伟达、AMD、高通和博通等，在3纳米、5纳米、7纳米等先进制程节点领域处于行业领先地位。
META vs TSM — 直观对比
营收规模更大
META
是对方的1.7倍
$35.5B
净利率更高
TSM
高出12.5%
38.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $59.9B | $35.5B |
| 净利润 | $22.8B | $17.9B |
| 毛利率 | 81.8% | 66.2% |
| 营业利润率 | 41.3% | 58.0% |
| 净利率 | 38.0% | 50.5% |
| 营收同比 | 23.8% | — |
| 净利润同比 | 9.3% | — |
| 每股收益（稀释后） | $8.87 | $111.55 |
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METATSM
| Q1 26 | — | $35.5B | ||
| Q4 25 | $59.9B | $32.7B | ||
| Q3 25 | $51.2B | $30.7B | ||
| Q2 25 | $47.5B | $28.9B | ||
| Q1 25 | $42.3B | $26.0B | ||
| Q4 24 | $48.4B | $88.3B | ||
| Q3 24 | $40.6B | — | ||
| Q2 24 | $39.1B | — |
净利润METATSM
| Q1 26 | — | $17.9B | ||
| Q4 25 | $22.8B | $15.8B | ||
| Q3 25 | $2.7B | $14.0B | ||
| Q2 25 | $18.3B | $12.3B | ||
| Q1 25 | $16.6B | $11.2B | ||
| Q4 24 | $20.8B | $35.3B | ||
| Q3 24 | $15.7B | — | ||
| Q2 24 | $13.5B | — |
毛利率METATSM
| Q1 26 | — | 66.2% | ||
| Q4 25 | 81.8% | 62.3% | ||
| Q3 25 | 82.0% | 59.5% | ||
| Q2 25 | 82.1% | 58.6% | ||
| Q1 25 | 82.1% | 58.8% | ||
| Q4 24 | 81.7% | 56.1% | ||
| Q3 24 | 81.8% | — | ||
| Q2 24 | 81.3% | — |
营业利润率METATSM
| Q1 26 | — | 58.0% | ||
| Q4 25 | 41.3% | 53.9% | ||
| Q3 25 | 40.1% | 50.6% | ||
| Q2 25 | 43.0% | 49.6% | ||
| Q1 25 | 41.5% | 48.5% | ||
| Q4 24 | 48.3% | 45.7% | ||
| Q3 24 | 42.7% | — | ||
| Q2 24 | 38.0% | — |
净利率METATSM
| Q1 26 | — | 50.5% | ||
| Q4 25 | 38.0% | 48.3% | ||
| Q3 25 | 5.3% | 45.7% | ||
| Q2 25 | 38.6% | 42.7% | ||
| Q1 25 | 39.3% | 43.1% | ||
| Q4 24 | 43.1% | 40.0% | ||
| Q3 24 | 38.7% | — | ||
| Q2 24 | 34.5% | — |
每股收益（稀释后）METATSM
| Q1 26 | — | $111.55 | ||
| Q4 25 | $8.87 | $98.45 | ||
| Q3 25 | $1.05 | $87.20 | ||
| Q2 25 | $7.14 | $76.80 | ||
| Q1 25 | $6.43 | $69.70 | ||
| Q4 24 | $7.96 | $1.36 | ||
| Q3 24 | $6.03 | — | ||
| Q2 24 | $5.16 | — |
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 | — |
| 总债务越低越好 | $58.7B | — |
| 股东权益账面价值 | $217.2B | — |
| 总资产 | $366.0B | — |
| 负债/权益比越低杠杆越低 | 0.27× | — |
8季度趋势，按日历期对齐
现金及短期投资METATSM
| Q1 26 | — | — | ||
| Q4 25 | $81.6B | — | ||
| Q3 25 | $44.4B | — | ||
| Q2 25 | $47.1B | — | ||
| Q1 25 | $70.2B | — | ||
| Q4 24 | $77.8B | $64.9B | ||
| Q3 24 | $70.9B | — | ||
| Q2 24 | $58.1B | — |
总债务METATSM
| Q1 26 | — | — | ||
| Q4 25 | $58.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $28.8B | — | ||
| Q3 24 | $28.8B | — | ||
| Q2 24 | — | — |
股东权益METATSM
| Q1 26 | — | — | ||
| Q4 25 | $217.2B | — | ||
| Q3 25 | $194.1B | — | ||
| Q2 25 | $195.1B | — | ||
| Q1 25 | $185.0B | — | ||
| Q4 24 | $182.6B | $130.5B | ||
| Q3 24 | $164.5B | — | ||
| Q2 24 | $156.8B | — |
总资产METATSM
| Q1 26 | — | — | ||
| Q4 25 | $366.0B | — | ||
| Q3 25 | $303.8B | — | ||
| Q2 25 | $294.7B | — | ||
| Q1 25 | $280.2B | — | ||
| Q4 24 | $276.1B | $204.1B | ||
| Q3 24 | $256.4B | — | ||
| Q2 24 | $230.2B | — |
负债/权益比METATSM
| Q1 26 | — | — | ||
| Q4 25 | 0.27× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.16× | — | ||
| Q3 24 | 0.18× | — | ||
| Q2 24 | — | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $14.8B | — |
| 自由现金流率自由现金流/营收 | 24.8% | — |
| 资本支出强度资本支出/营收 | 35.7% | — |
| 现金转化率经营现金流/净利润 | 1.59× | — |
| 过去12个月自由现金流最近4个季度 | $46.1B | — |
8季度趋势，按日历期对齐
经营现金流METATSM
| Q1 26 | — | — | ||
| Q4 25 | $36.2B | — | ||
| Q3 25 | $30.0B | — | ||
| Q2 25 | $25.6B | — | ||
| Q1 25 | $24.0B | — | ||
| Q4 24 | $28.0B | $55.7B | ||
| Q3 24 | $24.7B | — | ||
| Q2 24 | $19.4B | — |
自由现金流METATSM
| Q1 26 | — | — | ||
| Q4 25 | $14.8B | — | ||
| Q3 25 | $11.2B | — | ||
| Q2 25 | $9.0B | — | ||
| Q1 25 | $11.1B | — | ||
| Q4 24 | $13.6B | $26.5B | ||
| Q3 24 | $16.5B | — | ||
| Q2 24 | $11.2B | — |
自由现金流率METATSM
| Q1 26 | — | — | ||
| Q4 25 | 24.8% | — | ||
| Q3 25 | 21.8% | — | ||
| Q2 25 | 19.0% | — | ||
| Q1 25 | 26.2% | — | ||
| Q4 24 | 28.0% | 30.1% | ||
| Q3 24 | 40.6% | — | ||
| Q2 24 | 28.7% | — |
资本支出强度METATSM
| Q1 26 | — | — | ||
| Q4 25 | 35.7% | — | ||
| Q3 25 | 36.7% | — | ||
| Q2 25 | 34.8% | — | ||
| Q1 25 | 30.6% | — | ||
| Q4 24 | 29.8% | 33.0% | ||
| Q3 24 | 20.3% | — | ||
| Q2 24 | 20.9% | — |
现金转化率METATSM
| Q1 26 | — | — | ||
| Q4 25 | 1.59× | — | ||
| Q3 25 | 11.07× | — | ||
| Q2 25 | 1.39× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.34× | 1.58× | ||
| Q3 24 | 1.58× | — | ||
| Q2 24 | 1.44× | — |
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% |
TSM
暂无分部数据
