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摩托罗拉解决方案（MSI）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是摩托罗拉解决方案的1.3倍（$4.3B vs $3.4B），摩托罗拉解决方案净利率更高（19.2% vs 17.9%，领先1.3%），皇家加勒比集团同比增速更快（13.2% vs 12.3%），过去两年摩托罗拉解决方案的营收复合增速更高（18.9% vs 1.8%）
摩托罗拉解决方案是美国科技企业，总部位于伊利诺伊州芝加哥，2011年由摩托罗拉公司拆分成立。公司面向公共安全部门及企业客户，提供关键通信、视频安防、指挥中心技术等安全防护类产品与服务。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
MSI vs RCL — 直观对比
营收规模更大
RCL
是对方的1.3倍
$3.4B
营收增速更快
RCL
高出0.9%
12.3%
净利率更高
MSI
高出1.3%
17.9%
两年增速更快
MSI
近两年复合增速
1.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $4.3B |
| 净利润 | $649.0M | $762.0M |
| 毛利率 | 52.3% | — |
| 营业利润率 | 27.9% | 21.9% |
| 净利率 | 19.2% | 17.9% |
| 营收同比 | 12.3% | 13.2% |
| 净利润同比 | 6.2% | 36.3% |
| 每股收益（稀释后） | $3.85 | $2.76 |
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MSIRCL
| Q1 26 | — | $4.3B | ||
| Q4 25 | $3.4B | $4.3B | ||
| Q3 25 | $3.0B | $5.1B | ||
| Q2 25 | $2.8B | $4.5B | ||
| Q1 25 | $2.5B | $4.0B | ||
| Q4 24 | $3.0B | $3.8B | ||
| Q3 24 | $2.8B | $4.9B | ||
| Q2 24 | $2.6B | $4.1B |
净利润MSIRCL
| Q1 26 | — | $762.0M | ||
| Q4 25 | $649.0M | $753.0M | ||
| Q3 25 | $562.0M | $1.6B | ||
| Q2 25 | $513.0M | $1.2B | ||
| Q1 25 | $430.0M | $730.0M | ||
| Q4 24 | $611.0M | $552.0M | ||
| Q3 24 | $562.0M | $1.1B | ||
| Q2 24 | $443.0M | $854.0M |
毛利率MSIRCL
| Q1 26 | — | — | ||
| Q4 25 | 52.3% | 47.4% | ||
| Q3 25 | 51.6% | 51.8% | ||
| Q2 25 | 51.1% | 49.7% | ||
| Q1 25 | 51.4% | 48.0% | ||
| Q4 24 | 51.4% | 45.4% | ||
| Q3 24 | 51.4% | 51.1% | ||
| Q2 24 | 51.0% | 47.6% |
营业利润率MSIRCL
| Q1 26 | — | 21.9% | ||
| Q4 25 | 27.9% | 21.9% | ||
| Q3 25 | 25.6% | 33.1% | ||
| Q2 25 | 25.0% | 29.3% | ||
| Q1 25 | 23.0% | 23.6% | ||
| Q4 24 | 27.0% | 16.6% | ||
| Q3 24 | 25.5% | 33.4% | ||
| Q2 24 | 24.5% | 26.7% |
净利率MSIRCL
| Q1 26 | — | 17.9% | ||
| Q4 25 | 19.2% | 17.7% | ||
| Q3 25 | 18.7% | 30.6% | ||
| Q2 25 | 18.6% | 26.7% | ||
| Q1 25 | 17.0% | 18.3% | ||
| Q4 24 | 20.3% | 14.7% | ||
| Q3 24 | 20.1% | 22.7% | ||
| Q2 24 | 16.9% | 20.8% |
每股收益（稀释后）MSIRCL
| Q1 26 | — | $2.76 | ||
| Q4 25 | $3.85 | $2.76 | ||
| Q3 25 | $3.33 | $5.74 | ||
| Q2 25 | $3.04 | $4.41 | ||
| Q1 25 | $2.53 | $2.70 | ||
| Q4 24 | $3.57 | $2.27 | ||
| Q3 24 | $3.29 | $4.21 | ||
| Q2 24 | $2.60 | $3.11 |
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 | $1.2B | $825.0M |
| 总债务越低越好 | — | $21.3B |
| 股东权益账面价值 | $2.4B | $10.2B |
| 总资产 | $19.4B | $41.6B |
| 负债/权益比越低杠杆越低 | — | 2.08× |
8季度趋势，按日历期对齐
现金及短期投资MSIRCL
| Q1 26 | — | $825.0M | ||
| Q4 25 | $1.2B | $825.0M | ||
| Q3 25 | $894.0M | $432.0M | ||
| Q2 25 | $3.2B | $735.0M | ||
| Q1 25 | $1.6B | $386.0M | ||
| Q4 24 | $2.1B | $388.0M | ||
| Q3 24 | $1.4B | $418.0M | ||
| Q2 24 | $1.4B | $391.0M |
总债务MSIRCL
| Q1 26 | — | $21.3B | ||
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B |
股东权益MSIRCL
| Q1 26 | — | $10.2B | ||
| Q4 25 | $2.4B | $10.0B | ||
| Q3 25 | $2.3B | $10.1B | ||
| Q2 25 | $2.0B | $9.2B | ||
| Q1 25 | $1.6B | $8.0B | ||
| Q4 24 | $1.7B | $7.6B | ||
| Q3 24 | $1.3B | $7.0B | ||
| Q2 24 | $802.0M | $6.0B |
总资产MSIRCL
| Q1 26 | — | $41.6B | ||
| Q4 25 | $19.4B | $41.6B | ||
| Q3 25 | $18.8B | $40.1B | ||
| Q2 25 | $16.4B | $38.5B | ||
| Q1 25 | $14.4B | $37.5B | ||
| Q4 24 | $14.6B | $37.1B | ||
| Q3 24 | $13.9B | $37.1B | ||
| Q2 24 | $13.3B | $37.0B |
负债/权益比MSIRCL
| Q1 26 | — | 2.08× | ||
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× |
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 | $1.3B | $6.5B |
| 自由现金流经营现金流 - 资本支出 | $1.1B | — |
| 自由现金流率自由现金流/营收 | 33.8% | — |
| 资本支出强度资本支出/营收 | 3.4% | — |
| 现金转化率经营现金流/净利润 | 1.94× | 8.48× |
| 过去12个月自由现金流最近4个季度 | $2.6B | — |
8季度趋势，按日历期对齐
经营现金流MSIRCL
| Q1 26 | — | $6.5B | ||
| Q4 25 | $1.3B | $1.6B | ||
| Q3 25 | $798.0M | $1.5B | ||
| Q2 25 | $273.0M | $1.7B | ||
| Q1 25 | $510.0M | $1.6B | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | $759.0M | $897.0M | ||
| Q2 24 | $180.0M | $1.6B |
自由现金流MSIRCL
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $116.0M | ||
| Q3 25 | $732.0M | $-989.0M | ||
| Q2 25 | $225.0M | $910.0M | ||
| Q1 25 | $473.0M | $1.2B | ||
| Q4 24 | $984.0M | $915.0M | ||
| Q3 24 | $702.0M | $563.0M | ||
| Q2 24 | $112.0M | $-567.0M |
自由现金流率MSIRCL
| Q1 26 | — | — | ||
| Q4 25 | 33.8% | 2.7% | ||
| Q3 25 | 24.3% | -19.2% | ||
| Q2 25 | 8.1% | 20.1% | ||
| Q1 25 | 18.7% | 30.0% | ||
| Q4 24 | 32.7% | 24.3% | ||
| Q3 24 | 25.2% | 11.5% | ||
| Q2 24 | 4.3% | -13.8% |
资本支出强度MSIRCL
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 35.4% | ||
| Q3 25 | 2.2% | 47.8% | ||
| Q2 25 | 1.7% | 18.4% | ||
| Q1 25 | 1.5% | 10.7% | ||
| Q4 24 | 2.9% | 14.7% | ||
| Q3 24 | 2.0% | 6.8% | ||
| Q2 24 | 2.6% | 52.1% |
现金转化率MSIRCL
| Q1 26 | — | 8.48× | ||
| Q4 25 | 1.94× | 2.16× | ||
| Q3 25 | 1.42× | 0.93× | ||
| Q2 25 | 0.53× | 1.44× | ||
| Q1 25 | 1.19× | 2.23× | ||
| Q4 24 | 1.75× | 2.66× | ||
| Q3 24 | 1.35× | 0.81× | ||
| Q2 24 | 0.41× | 1.84× |
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
MSI
| Product And Systems Integration Segment | $1.5B | 45% |
| Services And Software Segment | $833.0M | 25% |
| Sales Channel Through Intermediary | $772.0M | 23% |
| Command Center Software | $258.0M | 8% |
RCL
暂无分部数据
