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摩托罗拉解决方案（MSI）与罗克韦尔自动化（ROK）财务数据对比。点击上方公司名可切换其他公司
摩托罗拉解决方案的季度营收约是罗克韦尔自动化的1.6倍（$3.4B vs $2.1B），摩托罗拉解决方案净利率更高（19.2% vs 14.5%，领先4.7%），摩托罗拉解决方案同比增速更快（12.3% vs 11.9%），摩托罗拉解决方案自由现金流更多（$1.1B vs $170.0M），过去两年摩托罗拉解决方案的营收复合增速更高（18.9% vs -0.5%）
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。
罗克韦尔自动化是总部位于美国威斯康星州密尔沃基的工业自动化及数字化转型技术提供商，旗下拥有Allen-Bradley、FactoryTalk软件、LifecycleIQ服务等核心品牌，全球员工约2.7万人，服务覆盖100多个国家和地区的客户。
MSI vs ROK — 直观对比
营收规模更大
MSI
是对方的1.6倍
$2.1B
营收增速更快
MSI
高出0.4%
11.9%
净利率更高
MSI
高出4.7%
14.5%
自由现金流更多
MSI
多$972.0M
$170.0M
两年增速更快
MSI
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $2.1B |
| 净利润 | $649.0M | $305.0M |
| 毛利率 | 52.3% | 48.3% |
| 营业利润率 | 27.9% | 20.7% |
| 净利率 | 19.2% | 14.5% |
| 营收同比 | 12.3% | 11.9% |
| 净利润同比 | 6.2% | 65.8% |
| 每股收益（稀释后） | $3.85 | $2.69 |
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MSIROK
| Q4 25 | $3.4B | $2.1B | ||
| Q3 25 | $3.0B | $2.3B | ||
| Q2 25 | $2.8B | $2.1B | ||
| Q1 25 | $2.5B | $2.0B | ||
| Q4 24 | $3.0B | $1.9B | ||
| Q3 24 | $2.8B | $2.0B | ||
| Q2 24 | $2.6B | $2.1B | ||
| Q1 24 | $2.4B | $2.1B |
净利润MSIROK
| Q4 25 | $649.0M | $305.0M | ||
| Q3 25 | $562.0M | $138.0M | ||
| Q2 25 | $513.0M | $295.0M | ||
| Q1 25 | $430.0M | $252.0M | ||
| Q4 24 | $611.0M | $184.0M | ||
| Q3 24 | $562.0M | $239.1M | ||
| Q2 24 | $443.0M | $232.0M | ||
| Q1 24 | $-39.0M | $266.2M |
毛利率MSIROK
| Q4 25 | 52.3% | 48.3% | ||
| Q3 25 | 51.6% | 69.4% | ||
| Q2 25 | 51.1% | 40.9% | ||
| Q1 25 | 51.4% | 40.5% | ||
| Q4 24 | 51.4% | 38.4% | ||
| Q3 24 | 51.4% | 37.9% | ||
| Q2 24 | 51.0% | 38.8% | ||
| Q1 24 | 49.9% | 39.2% |
营业利润率MSIROK
| Q4 25 | 27.9% | 20.7% | ||
| Q3 25 | 25.6% | 2.7% | ||
| Q2 25 | 25.0% | 16.0% | ||
| Q1 25 | 23.0% | 14.9% | ||
| Q4 24 | 27.0% | 17.1% | ||
| Q3 24 | 25.5% | 13.5% | ||
| Q2 24 | 24.5% | 12.4% | ||
| Q1 24 | 21.7% | 14.6% |
净利率MSIROK
| Q4 25 | 19.2% | 14.5% | ||
| Q3 25 | 18.7% | 6.0% | ||
| Q2 25 | 18.6% | 13.8% | ||
| Q1 25 | 17.0% | 12.6% | ||
| Q4 24 | 20.3% | 9.8% | ||
| Q3 24 | 20.1% | 11.7% | ||
| Q2 24 | 16.9% | 11.3% | ||
| Q1 24 | -1.6% | 12.5% |
每股收益（稀释后）MSIROK
| Q4 25 | $3.85 | $2.69 | ||
| Q3 25 | $3.33 | $1.24 | ||
| Q2 25 | $3.04 | $2.60 | ||
| Q1 25 | $2.53 | $2.22 | ||
| Q4 24 | $3.57 | $1.61 | ||
| Q3 24 | $3.29 | $2.09 | ||
| Q2 24 | $2.60 | $2.02 | ||
| Q1 24 | $-0.23 | $2.31 |
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 | $444.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.4B | $3.7B |
| 总资产 | $19.4B | $11.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MSIROK
| Q4 25 | $1.2B | $444.0M | ||
| Q3 25 | $894.0M | $468.0M | ||
| Q2 25 | $3.2B | $495.0M | ||
| Q1 25 | $1.6B | $456.0M | ||
| Q4 24 | $2.1B | $477.0M | ||
| Q3 24 | $1.4B | $471.3M | ||
| Q2 24 | $1.4B | $407.0M | ||
| Q1 24 | $1.5B | $470.5M |
总债务MSIROK
| Q4 25 | — | — | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益MSIROK
| Q4 25 | $2.4B | $3.7B | ||
| Q3 25 | $2.3B | $3.7B | ||
| Q2 25 | $2.0B | $3.5B | ||
| Q1 25 | $1.6B | $3.4B | ||
| Q4 24 | $1.7B | $3.4B | ||
| Q3 24 | $1.3B | $3.5B | ||
| Q2 24 | $802.0M | $3.3B | ||
| Q1 24 | $521.0M | $3.5B |
总资产MSIROK
| Q4 25 | $19.4B | $11.2B | ||
| Q3 25 | $18.8B | $11.2B | ||
| Q2 25 | $16.4B | $11.2B | ||
| Q1 25 | $14.4B | $11.0B | ||
| Q4 24 | $14.6B | $10.9B | ||
| Q3 24 | $13.9B | $11.2B | ||
| Q2 24 | $13.3B | $11.2B | ||
| Q1 24 | $13.3B | $11.4B |
负债/权益比MSIROK
| Q4 25 | — | — | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.73× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $234.0M |
| 自由现金流经营现金流 - 资本支出 | $1.1B | $170.0M |
| 自由现金流率自由现金流/营收 | 33.8% | 8.1% |
| 资本支出强度资本支出/营收 | 3.4% | 3.0% |
| 现金转化率经营现金流/净利润 | 1.94× | 0.77× |
| 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MSIROK
| Q4 25 | $1.3B | $234.0M | ||
| Q3 25 | $798.0M | $454.0M | ||
| Q2 25 | $273.0M | $527.0M | ||
| Q1 25 | $510.0M | $199.0M | ||
| Q4 24 | $1.1B | $364.0M | ||
| Q3 24 | $759.0M | $432.3M | ||
| Q2 24 | $180.0M | $279.1M | ||
| Q1 24 | $382.0M | $119.8M |
自由现金流MSIROK
| Q4 25 | $1.1B | $170.0M | ||
| Q3 25 | $732.0M | — | ||
| Q2 25 | $225.0M | $489.0M | ||
| Q1 25 | $473.0M | $171.0M | ||
| Q4 24 | $984.0M | $293.0M | ||
| Q3 24 | $702.0M | — | ||
| Q2 24 | $112.0M | $238.4M | ||
| Q1 24 | $336.0M | $68.6M |
自由现金流率MSIROK
| Q4 25 | 33.8% | 8.1% | ||
| Q3 25 | 24.3% | — | ||
| Q2 25 | 8.1% | 22.8% | ||
| Q1 25 | 18.7% | 8.5% | ||
| Q4 24 | 32.7% | 15.6% | ||
| Q3 24 | 25.2% | — | ||
| Q2 24 | 4.3% | 11.6% | ||
| Q1 24 | 14.1% | 3.2% |
资本支出强度MSIROK
| Q4 25 | 3.4% | 3.0% | ||
| Q3 25 | 2.2% | — | ||
| Q2 25 | 1.7% | 1.8% | ||
| Q1 25 | 1.5% | 1.4% | ||
| Q4 24 | 2.9% | 3.8% | ||
| Q3 24 | 2.0% | — | ||
| Q2 24 | 2.6% | 2.0% | ||
| Q1 24 | 1.9% | 2.4% |
现金转化率MSIROK
| Q4 25 | 1.94× | 0.77× | ||
| Q3 25 | 1.42× | 3.29× | ||
| Q2 25 | 0.53× | 1.79× | ||
| Q1 25 | 1.19× | 0.79× | ||
| Q4 24 | 1.75× | 1.98× | ||
| Q3 24 | 1.35× | 1.81× | ||
| Q2 24 | 0.41× | 1.20× | ||
| Q1 24 | — | 0.45× |
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% |
ROK
| Productsand Solutions | $1.9B | 89% |
| Lifecycle Services Segment | $259.0M | 12% |
