vs
Meta Platforms（META）与Walgreens Boots Alliance（WBA）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Walgreens Boots Alliance的1.4倍（$56.3B vs $39.0B），Meta Platforms净利率更高（47.5% vs -0.4%，领先48.0%），Meta Platforms同比增速更快（33.1% vs 7.2%），Meta Platforms自由现金流更多（$12.4B vs $336.0M），过去两年Meta Platforms的营收复合增速更高（20.1% vs 4.9%）
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%。
沃尔格林博姿联合（WBA）是总部位于美国伊利诺伊州迪尔菲尔德的跨国控股企业，2014年12月31日由沃尔格林收购联合博姿剩余55%股权组建而成，此前沃尔格林已持有联合博姿45%股权，本次收购总成本包含49亿美元现金及公允价值107亿美元的普通股。
META vs WBA — 直观对比
营收规模更大
META
是对方的1.4倍
$39.0B
营收增速更快
META
高出25.8%
7.2%
净利率更高
META
高出48.0%
-0.4%
自由现金流更多
META
多$12.1B
$336.0M
两年增速更快
META
近两年复合增速
4.9%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $56.3B | $39.0B |
| 净利润 | $26.8B | $-175.0M |
| 毛利率 | 81.9% | 16.7% |
| 营业利润率 | 40.6% | 0.1% |
| 净利率 | 47.5% | -0.4% |
| 营收同比 | 33.1% | 7.2% |
| 净利润同比 | 60.9% | -150.9% |
| 每股收益（稀释后） | $10.44 | $-0.20 |
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METAWBA
| Q1 26 | $56.3B | — | ||
| Q4 25 | $59.9B | — | ||
| Q3 25 | $51.2B | — | ||
| Q2 25 | $47.5B | $39.0B | ||
| Q1 25 | $42.3B | $38.6B | ||
| Q4 24 | $48.4B | $39.5B | ||
| Q3 24 | $40.6B | $37.5B | ||
| Q2 24 | $39.1B | $36.4B |
净利润METAWBA
| Q1 26 | $26.8B | — | ||
| Q4 25 | $22.8B | — | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $18.3B | $-175.0M | ||
| Q1 25 | $16.6B | $-2.9B | ||
| Q4 24 | $20.8B | $-265.0M | ||
| Q3 24 | $15.7B | $-3.0B | ||
| Q2 24 | $13.5B | $344.0M |
毛利率METAWBA
| Q1 26 | 81.9% | — | ||
| Q4 25 | 81.8% | — | ||
| Q3 25 | 82.0% | — | ||
| Q2 25 | 82.1% | 16.7% | ||
| Q1 25 | 82.1% | 18.0% | ||
| Q4 24 | 81.7% | 17.2% | ||
| Q3 24 | 81.8% | 16.7% | ||
| Q2 24 | 81.3% | 17.8% |
营业利润率METAWBA
| Q1 26 | 40.6% | — | ||
| Q4 25 | 41.3% | — | ||
| Q3 25 | 40.1% | — | ||
| Q2 25 | 43.0% | 0.1% | ||
| Q1 25 | 41.5% | -14.4% | ||
| Q4 24 | 48.3% | -0.6% | ||
| Q3 24 | 42.7% | -2.6% | ||
| Q2 24 | 38.0% | 0.3% |
净利率METAWBA
| Q1 26 | 47.5% | — | ||
| Q4 25 | 38.0% | — | ||
| Q3 25 | 5.3% | — | ||
| Q2 25 | 38.6% | -0.4% | ||
| Q1 25 | 39.3% | -7.4% | ||
| Q4 24 | 43.1% | -0.7% | ||
| Q3 24 | 38.7% | -8.0% | ||
| Q2 24 | 34.5% | 0.9% |
每股收益（稀释后）METAWBA
| Q1 26 | $10.44 | — | ||
| Q4 25 | $8.87 | — | ||
| Q3 25 | $1.05 | — | ||
| Q2 25 | $7.14 | $-0.20 | ||
| Q1 25 | $6.43 | $-3.30 | ||
| Q4 24 | $7.96 | $-0.31 | ||
| Q3 24 | $6.03 | $-3.48 | ||
| Q2 24 | $5.16 | $0.40 |
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 | $23.4B | $830.0M |
| 总债务越低越好 | $58.7B | $7.4B |
| 股东权益账面价值 | $243.7B | $7.2B |
| 总资产 | $395.3B | $69.4B |
| 负债/权益比越低杠杆越低 | 0.24× | 1.03× |
8季度趋势，按日历期对齐
现金及短期投资METAWBA
| Q1 26 | $23.4B | — | ||
| Q4 25 | $81.6B | — | ||
| Q3 25 | $44.4B | — | ||
| Q2 25 | $47.1B | $830.0M | ||
| Q1 25 | $70.2B | $1.1B | ||
| Q4 24 | $77.8B | $1.2B | ||
| Q3 24 | $70.9B | $3.1B | ||
| Q2 24 | $58.1B | $703.0M |
总债务METAWBA
| Q1 26 | $58.7B | — | ||
| Q4 25 | $58.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $7.4B | ||
| Q1 25 | — | $8.0B | ||
| Q4 24 | $28.8B | $8.1B | ||
| Q3 24 | $28.8B | $9.6B | ||
| Q2 24 | — | — |
股东权益METAWBA
| Q1 26 | $243.7B | — | ||
| Q4 25 | $217.2B | — | ||
| Q3 25 | $194.1B | — | ||
| Q2 25 | $195.1B | $7.2B | ||
| Q1 25 | $185.0B | $7.1B | ||
| Q4 24 | $182.6B | $9.9B | ||
| Q3 24 | $164.5B | $10.4B | ||
| Q2 24 | $156.8B | $13.6B |
总资产METAWBA
| Q1 26 | $395.3B | — | ||
| Q4 25 | $366.0B | — | ||
| Q3 25 | $303.8B | — | ||
| Q2 25 | $294.7B | $69.4B | ||
| Q1 25 | $280.2B | $70.2B | ||
| Q4 24 | $276.1B | $78.5B | ||
| Q3 24 | $256.4B | $81.0B | ||
| Q2 24 | $230.2B | $83.0B |
负债/权益比METAWBA
| Q1 26 | 0.24× | — | ||
| Q4 25 | 0.27× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.03× | ||
| Q1 25 | — | 1.13× | ||
| Q4 24 | 0.16× | 0.81× | ||
| Q3 24 | 0.18× | 0.92× | ||
| 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 | $32.2B | $584.0M |
| 自由现金流经营现金流 - 资本支出 | $12.4B | $336.0M |
| 自由现金流率自由现金流/营收 | 22.0% | 0.9% |
| 资本支出强度资本支出/营收 | — | 0.6% |
| 现金转化率经营现金流/净利润 | 1.20× | — |
| 过去12个月自由现金流最近4个季度 | $47.4B | $580.0M |
8季度趋势，按日历期对齐
经营现金流METAWBA
| Q1 26 | $32.2B | — | ||
| Q4 25 | $36.2B | — | ||
| Q3 25 | $30.0B | — | ||
| Q2 25 | $25.6B | $584.0M | ||
| Q1 25 | $24.0B | $-199.0M | ||
| Q4 24 | $28.0B | $-140.0M | ||
| Q3 24 | $24.7B | $1.3B | ||
| Q2 24 | $19.4B | $604.0M |
自由现金流METAWBA
| Q1 26 | $12.4B | — | ||
| Q4 25 | $14.8B | — | ||
| Q3 25 | $11.2B | — | ||
| Q2 25 | $9.0B | $336.0M | ||
| Q1 25 | $11.1B | $-418.0M | ||
| Q4 24 | $13.6B | $-424.0M | ||
| Q3 24 | $16.5B | $1.1B | ||
| Q2 24 | $11.2B | $327.0M |
自由现金流率METAWBA
| Q1 26 | 22.0% | — | ||
| Q4 25 | 24.8% | — | ||
| Q3 25 | 21.8% | — | ||
| Q2 25 | 19.0% | 0.9% | ||
| Q1 25 | 26.2% | -1.1% | ||
| Q4 24 | 28.0% | -1.1% | ||
| Q3 24 | 40.6% | 2.9% | ||
| Q2 24 | 28.7% | 0.9% |
资本支出强度METAWBA
| Q1 26 | — | — | ||
| Q4 25 | 35.7% | — | ||
| Q3 25 | 36.7% | — | ||
| Q2 25 | 34.8% | 0.6% | ||
| Q1 25 | 30.6% | 0.6% | ||
| Q4 24 | 29.8% | 0.7% | ||
| Q3 24 | 20.3% | 0.7% | ||
| Q2 24 | 20.9% | 0.8% |
现金转化率METAWBA
| Q1 26 | 1.20× | — | ||
| Q4 25 | 1.59× | — | ||
| Q3 25 | 11.07× | — | ||
| Q2 25 | 1.39× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.34× | — | ||
| Q3 24 | 1.58× | — | ||
| Q2 24 | 1.44× | 1.76× |
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 | $55.0B | 98% |
| Other revenue | $885.0M | 2% |
| Reality Labs | $402.0M | 1% |
WBA
| Pharmacy | $24.4B | 63% |
| Retail | $6.3B | 16% |
| International Reportable Segment | $6.2B | 16% |
| US Healthcare | $2.1B | 5% |
