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微软（MSFT）与壳牌（SHEL）财务数据对比。点击上方公司名可切换其他公司
微软的季度营收约是壳牌的1.2倍（$81.3B vs $65.4B），微软净利率更高（47.3% vs 5.6%，领先41.7%），微软同比增速更快（16.7% vs -12.2%），过去两年微软的营收复合增速更高（14.6% vs -11.9%）
微软是总部位于美国华盛顿州雷德蒙德的跨国科技集团，1975年成立。凭借Windows等软件推动个人计算机普及并奠定行业影响力，目前业务已覆盖互联网服务、云计算、人工智能、电子游戏等多个领域。
壳牌是总部位于英国伦敦的跨国油气企业，为国际石油巨头的核心成员。公司为公众有限公司，在伦敦证券交易所主上市，同时在阿姆斯特丹泛欧交易所、纽约证券交易所二次上市，按营收计是全球第二大投资者所有油气企业，也位列全球全行业规模最大的企业行列。
MSFT vs SHEL — 直观对比
营收规模更大
MSFT
是对方的1.2倍
$65.4B
营收增速更快
MSFT
高出28.9%
-12.2%
净利率更高
MSFT
高出41.7%
5.6%
两年增速更快
MSFT
近两年复合增速
-11.9%
损益表 — Q2 FY2026 vs Q2 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $81.3B | $65.4B |
| 净利润 | $38.5B | $3.6B |
| 毛利率 | 68.0% | — |
| 营业利润率 | 47.1% | — |
| 净利率 | 47.3% | 5.6% |
| 营收同比 | 16.7% | -12.2% |
| 净利润同比 | 59.5% | -0.2% |
| 每股收益（稀释后） | $5.16 | — |
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MSFTSHEL
| Q4 25 | $81.3B | — | ||
| Q3 25 | $77.7B | — | ||
| Q2 25 | $76.4B | $65.4B | ||
| Q1 25 | $70.1B | $69.2B | ||
| Q4 24 | $69.6B | — | ||
| Q3 24 | $65.6B | — | ||
| Q2 24 | $64.7B | $74.5B | ||
| Q1 24 | $61.9B | $72.5B |
净利润MSFTSHEL
| Q4 25 | $38.5B | — | ||
| Q3 25 | $27.7B | — | ||
| Q2 25 | $27.2B | $3.6B | ||
| Q1 25 | $25.8B | $4.9B | ||
| Q4 24 | $24.1B | — | ||
| Q3 24 | $24.7B | — | ||
| Q2 24 | $22.0B | $3.6B | ||
| Q1 24 | $21.9B | $7.4B |
毛利率MSFTSHEL
| Q4 25 | 68.0% | — | ||
| Q3 25 | 69.0% | — | ||
| Q2 25 | 68.6% | — | ||
| Q1 25 | 68.7% | — | ||
| Q4 24 | 68.7% | — | ||
| Q3 24 | 69.4% | — | ||
| Q2 24 | 69.6% | — | ||
| Q1 24 | 70.1% | — |
营业利润率MSFTSHEL
| Q4 25 | 47.1% | — | ||
| Q3 25 | 48.9% | — | ||
| Q2 25 | 44.9% | — | ||
| Q1 25 | 45.7% | — | ||
| Q4 24 | 45.5% | — | ||
| Q3 24 | 46.6% | — | ||
| Q2 24 | 43.1% | — | ||
| Q1 24 | 44.6% | — |
净利率MSFTSHEL
| Q4 25 | 47.3% | — | ||
| Q3 25 | 35.7% | — | ||
| Q2 25 | 35.6% | 5.6% | ||
| Q1 25 | 36.9% | 7.0% | ||
| Q4 24 | 34.6% | — | ||
| Q3 24 | 37.6% | — | ||
| Q2 24 | 34.0% | 4.9% | ||
| Q1 24 | 35.5% | 10.3% |
每股收益（稀释后）MSFTSHEL
| Q4 25 | $5.16 | — | ||
| Q3 25 | $3.72 | — | ||
| Q2 25 | $3.65 | — | ||
| Q1 25 | $3.46 | — | ||
| Q4 24 | $3.23 | — | ||
| Q3 24 | $3.30 | — | ||
| Q2 24 | $2.94 | — | ||
| Q1 24 | $2.94 | — |
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 | $89.5B | $32.7B |
| 总债务越低越好 | $40.3B | — |
| 股东权益账面价值 | $390.9B | $183.1B |
| 总资产 | $665.3B | $387.9B |
| 负债/权益比越低杠杆越低 | 0.10× | — |
8季度趋势，按日历期对齐
现金及短期投资MSFTSHEL
| Q4 25 | $89.5B | — | ||
| Q3 25 | $102.0B | — | ||
| Q2 25 | $94.6B | $32.7B | ||
| Q1 25 | $79.6B | $35.6B | ||
| Q4 24 | $71.6B | — | ||
| Q3 24 | $78.4B | — | ||
| Q2 24 | $75.5B | $38.1B | ||
| Q1 24 | $80.0B | $39.9B |
总债务MSFTSHEL
| Q4 25 | $40.3B | — | ||
| Q3 25 | $43.2B | — | ||
| Q2 25 | $43.2B | — | ||
| Q1 25 | $42.9B | — | ||
| Q4 24 | $45.0B | — | ||
| Q3 24 | $45.1B | — | ||
| Q2 24 | $44.9B | — | ||
| Q1 24 | $44.9B | — |
股东权益MSFTSHEL
| Q4 25 | $390.9B | — | ||
| Q3 25 | $363.1B | — | ||
| Q2 25 | $343.5B | $183.1B | ||
| Q1 25 | $321.9B | — | ||
| Q4 24 | $302.7B | — | ||
| Q3 24 | $287.7B | — | ||
| Q2 24 | $268.5B | $187.2B | ||
| Q1 24 | $253.2B | — |
总资产MSFTSHEL
| Q4 25 | $665.3B | — | ||
| Q3 25 | $636.4B | — | ||
| Q2 25 | $619.0B | $387.9B | ||
| Q1 25 | $562.6B | — | ||
| Q4 24 | $533.9B | — | ||
| Q3 24 | $523.0B | — | ||
| Q2 24 | $512.2B | $394.8B | ||
| Q1 24 | $484.3B | — |
负债/权益比MSFTSHEL
| Q4 25 | 0.10× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.13× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.15× | — | ||
| Q3 24 | 0.16× | — | ||
| Q2 24 | 0.17× | — | ||
| Q1 24 | 0.18× | — |
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 | $35.8B | $11.9B |
| 自由现金流经营现金流 - 资本支出 | $5.9B | — |
| 自由现金流率自由现金流/营收 | 7.2% | — |
| 资本支出强度资本支出/营收 | 36.8% | — |
| 现金转化率经营现金流/净利润 | 0.93× | 3.28× |
| 过去12个月自由现金流最近4个季度 | $77.4B | — |
8季度趋势，按日历期对齐
经营现金流MSFTSHEL
| Q4 25 | $35.8B | — | ||
| Q3 25 | $45.1B | — | ||
| Q2 25 | $42.6B | $11.9B | ||
| Q1 25 | $37.0B | $9.3B | ||
| Q4 24 | $22.3B | — | ||
| Q3 24 | $34.2B | — | ||
| Q2 24 | $37.2B | $13.5B | ||
| Q1 24 | $31.9B | $13.3B |
自由现金流MSFTSHEL
| Q4 25 | $5.9B | — | ||
| Q3 25 | $25.7B | — | ||
| Q2 25 | $25.6B | — | ||
| Q1 25 | $20.3B | — | ||
| Q4 24 | $6.5B | — | ||
| Q3 24 | $19.3B | — | ||
| Q2 24 | $23.3B | — | ||
| Q1 24 | $21.0B | — |
自由现金流率MSFTSHEL
| Q4 25 | 7.2% | — | ||
| Q3 25 | 33.0% | — | ||
| Q2 25 | 33.4% | — | ||
| Q1 25 | 29.0% | — | ||
| Q4 24 | 9.3% | — | ||
| Q3 24 | 29.4% | — | ||
| Q2 24 | 36.0% | — | ||
| Q1 24 | 33.9% | — |
资本支出强度MSFTSHEL
| Q4 25 | 36.8% | — | ||
| Q3 25 | 25.0% | — | ||
| Q2 25 | 22.3% | — | ||
| Q1 25 | 23.9% | — | ||
| Q4 24 | 22.7% | — | ||
| Q3 24 | 22.8% | — | ||
| Q2 24 | 21.4% | — | ||
| Q1 24 | 17.7% | — |
现金转化率MSFTSHEL
| Q4 25 | 0.93× | — | ||
| Q3 25 | 1.62× | — | ||
| Q2 25 | 1.57× | 3.28× | ||
| Q1 25 | 1.43× | 1.90× | ||
| Q4 24 | 0.92× | — | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 1.69× | 3.70× | ||
| Q1 24 | 1.45× | 1.79× |
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
MSFT
| Microsoft Three Six Five Commercial Products And Cloud Services | $24.5B | 30% |
| Products | $16.5B | 20% |
| More Personal Computing | $14.3B | 18% |
| Gaming | $6.0B | 7% |
| Linked In Corporation | $5.1B | 6% |
| Windows And Devices | $4.5B | 6% |
| Search And News Advertising | $3.8B | 5% |
| Microsoft Three Six Five Consumer Products And Cloud Services | $2.3B | 3% |
| Dynamics Products And Cloud Services | $2.2B | 3% |
| Enterprise And Partner Services | $2.0B | 3% |
| Other Products And Services | $6.0M | 0% |
SHEL
暂无分部数据
