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摩根士丹利（MS）与美光科技（MU）财务数据对比。点击上方公司名可切换其他公司
美光科技的季度营收约是摩根士丹利的2.2倍（$23.9B vs $10.7B），美光科技净利率更高（57.8% vs 52.6%，领先5.2%），美光科技同比增速更快（196.3% vs 16.0%），过去两年美光科技的营收复合增速更高（75.5% vs -15.8%）
摩根士丹利是总部位于美国纽约曼哈顿中城百老汇1585号的跨国投资银行及金融服务提供商，在全球42个国家设有办事处，员工超8万名，服务客户涵盖企业、政府、机构及个人。2023年该公司位列美国财富500强第61位，同年位居福布斯全球2000强第30位。
美光科技是总部位于美国爱达荷州博伊西的半导体厂商，专注于计算机内存及数据存储产品的研发生产，核心产品涵盖动态随机存取存储器（DRAM）、闪存、固态硬盘（SSD）等，是全球知名的存储解决方案供应商，产品广泛应用于消费电子、数据中心等诸多领域。
MS vs MU — 直观对比
营收规模更大
MU
是对方的2.2倍
$10.7B
营收增速更快
MU
高出180.3%
16.0%
净利率更高
MU
高出5.2%
52.6%
两年增速更快
MU
近两年复合增速
-15.8%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $10.7B | $23.9B |
| 净利润 | $5.6B | $13.8B |
| 毛利率 | — | 74.4% |
| 营业利润率 | — | 67.6% |
| 净利率 | 52.6% | 57.8% |
| 营收同比 | 16.0% | 196.3% |
| 净利润同比 | — | 770.8% |
| 每股收益（稀释后） | — | $12.07 |
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MSMU
| Q2 26 | — | $23.9B | ||
| Q1 26 | $10.7B | $23.9B | ||
| Q4 25 | $17.9B | $13.6B | ||
| Q3 25 | $18.2B | $11.3B | ||
| Q2 25 | $16.8B | $9.3B | ||
| Q1 25 | $17.7B | $8.1B | ||
| Q4 24 | — | $8.7B | ||
| Q3 24 | $15.4B | $7.8B |
净利润MSMU
| Q2 26 | — | $13.8B | ||
| Q1 26 | $5.6B | $13.8B | ||
| Q4 25 | $4.4B | $5.2B | ||
| Q3 25 | $4.6B | $3.2B | ||
| Q2 25 | $3.5B | $1.9B | ||
| Q1 25 | $4.3B | $1.6B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | $3.2B | — |
毛利率MSMU
| Q2 26 | — | 74.4% | ||
| Q1 26 | — | 74.4% | ||
| Q4 25 | — | 56.0% | ||
| Q3 25 | — | 44.7% | ||
| Q2 25 | — | 37.7% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 38.4% | ||
| Q3 24 | — | 35.3% |
营业利润率MSMU
| Q2 26 | — | 67.6% | ||
| Q1 26 | — | 67.6% | ||
| Q4 25 | 32.2% | 45.0% | ||
| Q3 25 | 33.1% | 32.3% | ||
| Q2 25 | 27.5% | 23.3% | ||
| Q1 25 | 31.3% | 22.0% | ||
| Q4 24 | — | 25.0% | ||
| Q3 24 | 27.4% | — |
净利率MSMU
| Q2 26 | — | 57.8% | ||
| Q1 26 | 52.6% | 57.8% | ||
| Q4 25 | 24.6% | 38.4% | ||
| Q3 25 | 25.3% | 28.3% | ||
| Q2 25 | 21.1% | 20.3% | ||
| Q1 25 | 24.3% | 19.7% | ||
| Q4 24 | — | 21.5% | ||
| Q3 24 | 20.7% | — |
每股收益（稀释后）MSMU
| Q2 26 | — | $12.07 | ||
| Q1 26 | — | $12.07 | ||
| Q4 25 | $2.68 | $4.60 | ||
| Q3 25 | $2.80 | $2.83 | ||
| Q2 25 | $2.13 | $1.68 | ||
| Q1 25 | $2.60 | $1.41 | ||
| Q4 24 | — | $1.67 | ||
| Q3 24 | $1.88 | — |
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 | — | $14.6B |
| 总债务越低越好 | — | $9.6B |
| 股东权益账面价值 | $5.1M | $72.5B |
| 总资产 | $1581.4B | $101.5B |
| 负债/权益比越低杠杆越低 | — | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资MSMU
| Q2 26 | — | $14.6B | ||
| Q1 26 | — | $13.9B | ||
| Q4 25 | $111.7B | $9.7B | ||
| Q3 25 | $103.7B | $9.6B | ||
| Q2 25 | $109.1B | $10.2B | ||
| Q1 25 | $90.7B | $7.6B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | $91.1B | $7.0B |
总债务MSMU
| Q2 26 | — | $9.6B | ||
| Q1 26 | — | $9.6B | ||
| Q4 25 | $341.7B | $11.2B | ||
| Q3 25 | $324.1B | $14.0B | ||
| Q2 25 | $320.1B | $15.0B | ||
| Q1 25 | $297.0B | $13.9B | ||
| Q4 24 | — | $13.3B | ||
| Q3 24 | $291.2B | $13.0B |
股东权益MSMU
| Q2 26 | — | $72.5B | ||
| Q1 26 | $5.1M | $72.5B | ||
| Q4 25 | $111.6B | $58.8B | ||
| Q3 25 | $110.0B | $54.2B | ||
| Q2 25 | $108.2B | $50.7B | ||
| Q1 25 | $106.8B | $48.6B | ||
| Q4 24 | — | $46.8B | ||
| Q3 24 | $103.6B | $45.1B |
总资产MSMU
| Q2 26 | — | $101.5B | ||
| Q1 26 | $1581.4B | $101.5B | ||
| Q4 25 | $1420.3B | $86.0B | ||
| Q3 25 | $1364.8B | $82.8B | ||
| Q2 25 | $1353.9B | $78.4B | ||
| Q1 25 | $1300.3B | $73.1B | ||
| Q4 24 | — | $71.5B | ||
| Q3 24 | $1258.0B | $69.4B |
负债/权益比MSMU
| Q2 26 | — | 0.13× | ||
| Q1 26 | — | 0.13× | ||
| Q4 25 | 3.06× | 0.19× | ||
| Q3 25 | 2.95× | 0.26× | ||
| Q2 25 | 2.96× | 0.30× | ||
| Q1 25 | 2.78× | 0.28× | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | 2.81× | 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 | — | $20.3B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | 21.0% |
| 现金转化率经营现金流/净利润 | — | 1.47× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流MSMU
| Q2 26 | — | $20.3B | ||
| Q1 26 | — | $11.9B | ||
| Q4 25 | $-2.4B | $8.4B | ||
| Q3 25 | $-3.3B | $17.5B | ||
| Q2 25 | $11.8B | $4.6B | ||
| Q1 25 | $-24.0B | $3.9B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | — | $8.5B |
自由现金流MSMU
| Q2 26 | — | — | ||
| Q1 26 | — | $5.5B | ||
| Q4 25 | — | $3.0B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $-113.0M | ||
| Q4 24 | — | $38.0M | ||
| Q3 24 | — | $121.0M |
自由现金流率MSMU
| Q2 26 | — | — | ||
| Q1 26 | — | 23.1% | ||
| Q4 25 | — | 22.2% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 18.0% | ||
| Q1 25 | — | -1.4% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 1.6% |
资本支出强度MSMU
| Q2 26 | — | 21.0% | ||
| Q1 26 | — | 26.8% | ||
| Q4 25 | — | 39.5% | ||
| Q3 25 | — | 140.1% | ||
| Q2 25 | — | 31.6% | ||
| Q1 25 | — | 50.4% | ||
| Q4 24 | — | 36.8% | ||
| Q3 24 | — | 108.2% |
现金转化率MSMU
| Q2 26 | — | 1.47× | ||
| Q1 26 | — | 0.86× | ||
| Q4 25 | -0.55× | 1.61× | ||
| Q3 25 | -0.72× | 5.47× | ||
| Q2 25 | 3.34× | 2.45× | ||
| Q1 25 | -5.56× | 2.49× | ||
| Q4 24 | — | 1.73× | ||
| Q3 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
