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美满电子科技（MRVL）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
台积电的季度营收约是美满电子科技的17.1倍（$35.5B vs $2.1B），美满电子科技净利率更高（91.7% vs 50.5%，领先41.2%）
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。
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。
MRVL vs TSM — 直观对比
营收规模更大
TSM
是对方的17.1倍
$2.1B
净利率更高
MRVL
高出41.2%
50.5%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $35.5B |
| 净利润 | $1.9B | $17.9B |
| 毛利率 | 51.6% | 66.2% |
| 营业利润率 | 17.2% | 58.0% |
| 净利率 | 91.7% | 50.5% |
| 营收同比 | 36.8% | — |
| 净利润同比 | 381.1% | — |
| 每股收益（稀释后） | $2.20 | $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MRVLTSM
| Q1 26 | — | $35.5B | ||
| Q4 25 | $2.1B | $32.7B | ||
| Q3 25 | $2.0B | $30.7B | ||
| Q2 25 | $1.9B | $28.9B | ||
| Q1 25 | $1.8B | $26.0B | ||
| Q4 24 | $1.5B | $88.3B | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.2B | — |
净利润MRVLTSM
| Q1 26 | — | $17.9B | ||
| Q4 25 | $1.9B | $15.8B | ||
| Q3 25 | $194.8M | $14.0B | ||
| Q2 25 | $177.9M | $12.3B | ||
| Q1 25 | $200.2M | $11.2B | ||
| Q4 24 | $-676.3M | $35.3B | ||
| Q3 24 | $-193.3M | — | ||
| Q2 24 | $-215.6M | — |
毛利率MRVLTSM
| Q1 26 | — | 66.2% | ||
| Q4 25 | 51.6% | 62.3% | ||
| Q3 25 | 50.4% | 59.5% | ||
| Q2 25 | 50.3% | 58.6% | ||
| Q1 25 | 50.5% | 58.8% | ||
| Q4 24 | 23.0% | 56.1% | ||
| Q3 24 | 46.2% | — | ||
| Q2 24 | 45.5% | — |
营业利润率MRVLTSM
| Q1 26 | — | 58.0% | ||
| Q4 25 | 17.2% | 53.9% | ||
| Q3 25 | 14.5% | 50.6% | ||
| Q2 25 | 14.3% | 49.6% | ||
| Q1 25 | 12.9% | 48.5% | ||
| Q4 24 | -46.4% | 45.7% | ||
| Q3 24 | -7.9% | — | ||
| Q2 24 | -13.1% | — |
净利率MRVLTSM
| Q1 26 | — | 50.5% | ||
| Q4 25 | 91.7% | 48.3% | ||
| Q3 25 | 9.7% | 45.7% | ||
| Q2 25 | 9.4% | 42.7% | ||
| Q1 25 | 11.0% | 43.1% | ||
| Q4 24 | -44.6% | 40.0% | ||
| Q3 24 | -15.2% | — | ||
| Q2 24 | -18.6% | — |
每股收益（稀释后）MRVLTSM
| Q1 26 | — | $111.55 | ||
| Q4 25 | $2.20 | $98.45 | ||
| Q3 25 | $0.22 | $87.20 | ||
| Q2 25 | $0.20 | $76.80 | ||
| Q1 25 | $0.23 | $69.70 | ||
| Q4 24 | $-0.78 | $1.36 | ||
| Q3 24 | $-0.22 | — | ||
| Q2 24 | $-0.25 | — |
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 | — |
| 总债务越低越好 | $4.5B | — |
| 股东权益账面价值 | $14.1B | — |
| 总资产 | $21.6B | — |
| 负债/权益比越低杠杆越低 | 0.32× | — |
8季度趋势，按日历期对齐
现金及短期投资MRVLTSM
| Q1 26 | — | — | ||
| Q4 25 | $2.7B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $885.9M | — | ||
| Q1 25 | $948.3M | — | ||
| Q4 24 | $868.1M | $64.9B | ||
| Q3 24 | $808.7M | — | ||
| Q2 24 | $847.7M | — |
总债务MRVLTSM
| Q1 26 | — | — | ||
| Q4 25 | $4.5B | — | ||
| Q3 25 | $4.5B | — | ||
| Q2 25 | $4.2B | — | ||
| Q1 25 | $4.1B | — | ||
| Q4 24 | $4.1B | — | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.1B | — |
股东权益MRVLTSM
| Q1 26 | — | — | ||
| Q4 25 | $14.1B | — | ||
| Q3 25 | $13.4B | — | ||
| Q2 25 | $13.3B | — | ||
| Q1 25 | $13.4B | — | ||
| Q4 24 | $13.4B | $130.5B | ||
| Q3 24 | $14.2B | — | ||
| Q2 24 | $14.5B | — |
总资产MRVLTSM
| Q1 26 | — | — | ||
| Q4 25 | $21.6B | — | ||
| Q3 25 | $20.6B | — | ||
| Q2 25 | $20.0B | — | ||
| Q1 25 | $20.2B | — | ||
| Q4 24 | $19.7B | $204.1B | ||
| Q3 24 | $20.3B | — | ||
| Q2 24 | $20.5B | — |
负债/权益比MRVLTSM
| Q1 26 | — | — | ||
| Q4 25 | 0.32× | — | ||
| Q3 25 | 0.33× | — | ||
| Q2 25 | 0.32× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.29× | — | ||
| Q2 24 | 0.29× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $508.8M | — |
| 自由现金流率自由现金流/营收 | 24.5% | — |
| 资本支出强度资本支出/营收 | 3.5% | — |
| 现金转化率经营现金流/净利润 | 0.31× | — |
| 过去12个月自由现金流最近4个季度 | $1.6B | — |
8季度趋势，按日历期对齐
经营现金流MRVLTSM
| Q1 26 | — | — | ||
| Q4 25 | $582.3M | — | ||
| Q3 25 | $461.6M | — | ||
| Q2 25 | $332.9M | — | ||
| Q1 25 | $514.0M | — | ||
| Q4 24 | $536.3M | $55.7B | ||
| Q3 24 | $306.4M | — | ||
| Q2 24 | $324.5M | — |
自由现金流MRVLTSM
| Q1 26 | — | — | ||
| Q4 25 | $508.8M | — | ||
| Q3 25 | $414.1M | — | ||
| Q2 25 | $214.1M | — | ||
| Q1 25 | $444.1M | — | ||
| Q4 24 | $461.3M | $26.5B | ||
| Q3 24 | $258.2M | — | ||
| Q2 24 | $233.0M | — |
自由现金流率MRVLTSM
| Q1 26 | — | — | ||
| Q4 25 | 24.5% | — | ||
| Q3 25 | 20.6% | — | ||
| Q2 25 | 11.3% | — | ||
| Q1 25 | 24.4% | — | ||
| Q4 24 | 30.4% | 30.1% | ||
| Q3 24 | 20.3% | — | ||
| Q2 24 | 20.1% | — |
资本支出强度MRVLTSM
| Q1 26 | — | — | ||
| Q4 25 | 3.5% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 6.3% | — | ||
| Q1 25 | 3.8% | — | ||
| Q4 24 | 4.9% | 33.0% | ||
| Q3 24 | 3.8% | — | ||
| Q2 24 | 7.9% | — |
现金转化率MRVLTSM
| Q1 26 | — | — | ||
| Q4 25 | 0.31× | — | ||
| Q3 25 | 2.37× | — | ||
| Q2 25 | 1.87× | — | ||
| Q1 25 | 2.57× | — | ||
| Q4 24 | — | 1.58× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
