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美满电子科技（MRVL）与高通（QCOM）财务数据对比。点击上方公司名可切换其他公司
高通的季度营收约是美满电子科技的5.9倍（$12.3B vs $2.1B），美满电子科技净利率更高（91.7% vs 24.5%，领先67.1%），美满电子科技同比增速更快（36.8% vs 5.0%），高通自由现金流更多（$4.4B vs $508.8M），过去两年美满电子科技的营收复合增速更高（20.6% vs 14.2%）
美满电子科技是总部位于美国加利福尼亚州圣克拉拉的半导体企业，成立于1995年，专注于半导体及相关技术的研发与生产。截至2024年，公司全球员工超6500人，持有全球专利超1万项，2024财年总营收达55亿美元。
高通是总部位于美国加利福尼亚州圣迭戈、在特拉华州注册的跨国企业，主营无线技术相关的半导体、软件及服务业务，持有5G、4G、CDMA2000、TD-SCDMA、WCDMA等移动通信标准的核心专利，是全球无线通信领域的核心供应商。
MRVL vs QCOM — 直观对比
营收规模更大
QCOM
是对方的5.9倍
$2.1B
营收增速更快
MRVL
高出31.8%
5.0%
净利率更高
MRVL
高出67.1%
24.5%
自由现金流更多
QCOM
多$3.9B
$508.8M
两年增速更快
MRVL
近两年复合增速
14.2%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $12.3B |
| 净利润 | $1.9B | $3.0B |
| 毛利率 | 51.6% | 54.6% |
| 营业利润率 | 17.2% | 27.5% |
| 净利率 | 91.7% | 24.5% |
| 营收同比 | 36.8% | 5.0% |
| 净利润同比 | 381.1% | -5.5% |
| 每股收益（稀释后） | $2.20 | $2.78 |
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MRVLQCOM
| Q4 25 | $2.1B | $12.3B | ||
| Q3 25 | $2.0B | $11.3B | ||
| Q2 25 | $1.9B | $10.4B | ||
| Q1 25 | $1.8B | $11.0B | ||
| Q4 24 | $1.5B | $11.7B | ||
| Q3 24 | $1.3B | $10.2B | ||
| Q2 24 | $1.2B | $9.4B | ||
| Q1 24 | $1.4B | $9.4B |
净利润MRVLQCOM
| Q4 25 | $1.9B | $3.0B | ||
| Q3 25 | $194.8M | $-3.1B | ||
| Q2 25 | $177.9M | $2.7B | ||
| Q1 25 | $200.2M | $2.8B | ||
| Q4 24 | $-676.3M | $3.2B | ||
| Q3 24 | $-193.3M | $2.9B | ||
| Q2 24 | $-215.6M | $2.1B | ||
| Q1 24 | $-392.7M | $2.3B |
毛利率MRVLQCOM
| Q4 25 | 51.6% | 54.6% | ||
| Q3 25 | 50.4% | 55.3% | ||
| Q2 25 | 50.3% | 55.6% | ||
| Q1 25 | 50.5% | 55.0% | ||
| Q4 24 | 23.0% | 55.8% | ||
| Q3 24 | 46.2% | 56.4% | ||
| Q2 24 | 45.5% | 55.6% | ||
| Q1 24 | 46.6% | 56.3% |
营业利润率MRVLQCOM
| Q4 25 | 17.2% | 27.5% | ||
| Q3 25 | 14.5% | 25.9% | ||
| Q2 25 | 14.3% | 26.6% | ||
| Q1 25 | 12.9% | 28.4% | ||
| Q4 24 | -46.4% | 30.5% | ||
| Q3 24 | -7.9% | 25.2% | ||
| Q2 24 | -13.1% | 23.6% | ||
| Q1 24 | -2.3% | 24.9% |
净利率MRVLQCOM
| Q4 25 | 91.7% | 24.5% | ||
| Q3 25 | 9.7% | -27.7% | ||
| Q2 25 | 9.4% | 25.7% | ||
| Q1 25 | 11.0% | 25.6% | ||
| Q4 24 | -44.6% | 27.3% | ||
| Q3 24 | -15.2% | 28.5% | ||
| Q2 24 | -18.6% | 22.7% | ||
| Q1 24 | -27.5% | 24.8% |
每股收益（稀释后）MRVLQCOM
| Q4 25 | $2.20 | $2.78 | ||
| Q3 25 | $0.22 | $-2.77 | ||
| Q2 25 | $0.20 | $2.43 | ||
| Q1 25 | $0.23 | $2.52 | ||
| Q4 24 | $-0.78 | $2.83 | ||
| Q3 24 | $-0.22 | $2.57 | ||
| Q2 24 | $-0.25 | $1.88 | ||
| Q1 24 | $-0.45 | $2.06 |
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 | $2.7B | $11.8B |
| 总债务越低越好 | $4.5B | $14.8B |
| 股东权益账面价值 | $14.1B | $23.1B |
| 总资产 | $21.6B | $53.0B |
| 负债/权益比越低杠杆越低 | 0.32× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资MRVLQCOM
| Q4 25 | $2.7B | $11.8B | ||
| Q3 25 | $1.2B | $10.2B | ||
| Q2 25 | $885.9M | $10.0B | ||
| Q1 25 | $948.3M | $13.8B | ||
| Q4 24 | $868.1M | $14.3B | ||
| Q3 24 | $808.7M | $13.3B | ||
| Q2 24 | $847.7M | $13.0B | ||
| Q1 24 | $950.8M | $13.9B |
总债务MRVLQCOM
| Q4 25 | $4.5B | $14.8B | ||
| Q3 25 | $4.5B | $14.8B | ||
| Q2 25 | $4.2B | $14.8B | ||
| Q1 25 | $4.1B | $13.3B | ||
| Q4 24 | $4.1B | $13.2B | ||
| Q3 24 | $4.1B | $13.3B | ||
| Q2 24 | $4.1B | $13.2B | ||
| Q1 24 | $4.2B | $14.5B |
股东权益MRVLQCOM
| Q4 25 | $14.1B | $23.1B | ||
| Q3 25 | $13.4B | $21.2B | ||
| Q2 25 | $13.3B | $27.2B | ||
| Q1 25 | $13.4B | $27.7B | ||
| Q4 24 | $13.4B | $26.9B | ||
| Q3 24 | $14.2B | $26.3B | ||
| Q2 24 | $14.5B | $24.7B | ||
| Q1 24 | $14.8B | $24.5B |
总资产MRVLQCOM
| Q4 25 | $21.6B | $53.0B | ||
| Q3 25 | $20.6B | $50.1B | ||
| Q2 25 | $20.0B | $54.9B | ||
| Q1 25 | $20.2B | $55.4B | ||
| Q4 24 | $19.7B | $55.6B | ||
| Q3 24 | $20.3B | $55.2B | ||
| Q2 24 | $20.5B | $52.7B | ||
| Q1 24 | $21.2B | $53.2B |
负债/权益比MRVLQCOM
| Q4 25 | 0.32× | 0.64× | ||
| Q3 25 | 0.33× | 0.70× | ||
| Q2 25 | 0.32× | 0.54× | ||
| Q1 25 | 0.30× | 0.48× | ||
| Q4 24 | 0.31× | 0.49× | ||
| Q3 24 | 0.29× | 0.51× | ||
| Q2 24 | 0.29× | 0.53× | ||
| Q1 24 | 0.28× | 0.59× |
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 | $582.3M | $5.0B |
| 自由现金流经营现金流 - 资本支出 | $508.8M | $4.4B |
| 自由现金流率自由现金流/营收 | 24.5% | 36.0% |
| 资本支出强度资本支出/营收 | 3.5% | 4.5% |
| 现金转化率经营现金流/净利润 | 0.31× | 1.65× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $12.9B |
8季度趋势，按日历期对齐
经营现金流MRVLQCOM
| Q4 25 | $582.3M | $5.0B | ||
| Q3 25 | $461.6M | $4.0B | ||
| Q2 25 | $332.9M | $2.9B | ||
| Q1 25 | $514.0M | $2.6B | ||
| Q4 24 | $536.3M | $4.6B | ||
| Q3 24 | $306.4M | $2.6B | ||
| Q2 24 | $324.5M | $3.1B | ||
| Q1 24 | $546.6M | $3.6B |
自由现金流MRVLQCOM
| Q4 25 | $508.8M | $4.4B | ||
| Q3 25 | $414.1M | $3.6B | ||
| Q2 25 | $214.1M | $2.6B | ||
| Q1 25 | $444.1M | $2.3B | ||
| Q4 24 | $461.3M | $4.3B | ||
| Q3 24 | $258.2M | $2.4B | ||
| Q2 24 | $233.0M | $2.7B | ||
| Q1 24 | $475.6M | $3.4B |
自由现金流率MRVLQCOM
| Q4 25 | 24.5% | 36.0% | ||
| Q3 25 | 20.6% | 31.8% | ||
| Q2 25 | 11.3% | 24.9% | ||
| Q1 25 | 24.4% | 21.3% | ||
| Q4 24 | 30.4% | 36.9% | ||
| Q3 24 | 20.3% | 23.3% | ||
| Q2 24 | 20.1% | 28.4% | ||
| Q1 24 | 33.3% | 35.9% |
资本支出强度MRVLQCOM
| Q4 25 | 3.5% | 4.5% | ||
| Q3 25 | 2.4% | 3.6% | ||
| Q2 25 | 6.3% | 2.8% | ||
| Q1 25 | 3.8% | 1.9% | ||
| Q4 24 | 4.9% | 2.4% | ||
| Q3 24 | 3.8% | 2.5% | ||
| Q2 24 | 7.9% | 4.1% | ||
| Q1 24 | 5.0% | 2.0% |
现金转化率MRVLQCOM
| Q4 25 | 0.31× | 1.65× | ||
| Q3 25 | 2.37× | — | ||
| Q2 25 | 1.87× | 1.08× | ||
| Q1 25 | 2.57× | 0.91× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | 0.91× | ||
| Q2 24 | — | 1.43× | ||
| Q1 24 | — | 1.53× |
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
MRVL
暂无分部数据
QCOM
| Handsets | $7.8B | 64% |
| Io T | $1.7B | 14% |
| Qtl | $1.6B | 13% |
| Automotive | $1.1B | 9% |
