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摩托罗拉解决方案（MSI）与闪迪（SNDK）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闪迪的1.1倍（$3.4B vs $3.0B），闪迪净利率更高（26.5% vs 19.2%，领先7.3%），闪迪同比增速更快（78.5% vs 12.3%），摩托罗拉解决方案自由现金流更多（$1.1B vs $980.0M）
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。
闪迪是总部位于美国加利福尼亚州米尔皮塔斯的跨国计算机科技企业，主要设计生产闪存相关产品，涵盖存储卡、U盘、固态硬盘等品类。公司1988年由伊莱·哈拉里、桑贾伊·梅洛特拉、袁志坤共同创立，最初名为SunDisk，现品牌名取自创始人桑贾伊的名字与disk的组合。
MSI vs SNDK — 直观对比
营收规模更大
MSI
是对方的1.1倍
$3.0B
营收增速更快
SNDK
高出66.2%
12.3%
净利率更高
SNDK
高出7.3%
19.2%
自由现金流更多
MSI
多$162.0M
$980.0M
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $3.0B |
| 净利润 | $649.0M | $803.0M |
| 毛利率 | 52.3% | 50.9% |
| 营业利润率 | 27.9% | 35.2% |
| 净利率 | 19.2% | 26.5% |
| 营收同比 | 12.3% | 78.5% |
| 净利润同比 | 6.2% | 141.5% |
| 每股收益（稀释后） | $3.85 | $5.15 |
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MSISNDK
| Q1 26 | — | $3.0B | ||
| Q4 25 | $3.4B | $2.3B | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $2.8B | $1.9B | ||
| Q1 25 | $2.5B | $1.7B | ||
| Q4 24 | $3.0B | $1.9B | ||
| Q3 24 | $2.8B | $1.9B | ||
| Q2 24 | $2.6B | — |
净利润MSISNDK
| Q1 26 | — | $803.0M | ||
| Q4 25 | $649.0M | $112.0M | ||
| Q3 25 | $562.0M | — | ||
| Q2 25 | $513.0M | $-23.0M | ||
| Q1 25 | $430.0M | $-1.9B | ||
| Q4 24 | $611.0M | $104.0M | ||
| Q3 24 | $562.0M | $211.0M | ||
| Q2 24 | $443.0M | — |
毛利率MSISNDK
| Q1 26 | — | 50.9% | ||
| Q4 25 | 52.3% | 29.8% | ||
| Q3 25 | 51.6% | — | ||
| Q2 25 | 51.1% | 26.2% | ||
| Q1 25 | 51.4% | 22.5% | ||
| Q4 24 | 51.4% | 32.3% | ||
| Q3 24 | 51.4% | 38.6% | ||
| Q2 24 | 51.0% | — |
营业利润率MSISNDK
| Q1 26 | — | 35.2% | ||
| Q4 25 | 27.9% | 7.6% | ||
| Q3 25 | 25.6% | — | ||
| Q2 25 | 25.0% | 0.9% | ||
| Q1 25 | 23.0% | -111.0% | ||
| Q4 24 | 27.0% | 10.4% | ||
| Q3 24 | 25.5% | 15.5% | ||
| Q2 24 | 24.5% | — |
净利率MSISNDK
| Q1 26 | — | 26.5% | ||
| Q4 25 | 19.2% | 4.9% | ||
| Q3 25 | 18.7% | — | ||
| Q2 25 | 18.6% | -1.2% | ||
| Q1 25 | 17.0% | -114.0% | ||
| Q4 24 | 20.3% | 5.5% | ||
| Q3 24 | 20.1% | 11.2% | ||
| Q2 24 | 16.9% | — |
每股收益（稀释后）MSISNDK
| Q1 26 | — | $5.15 | ||
| Q4 25 | $3.85 | $0.75 | ||
| Q3 25 | $3.33 | — | ||
| Q2 25 | $3.04 | $-0.17 | ||
| Q1 25 | $2.53 | $-13.33 | ||
| Q4 24 | $3.57 | $0.72 | ||
| Q3 24 | $3.29 | $1.46 | ||
| Q2 24 | $2.60 | — |
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 | $1.5B |
| 总债务越低越好 | — | $603.0M |
| 股东权益账面价值 | $2.4B | $10.2B |
| 总资产 | $19.4B | $13.0B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资MSISNDK
| Q1 26 | — | $1.5B | ||
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $894.0M | — | ||
| Q2 25 | $3.2B | $1.5B | ||
| Q1 25 | $1.6B | $1.5B | ||
| Q4 24 | $2.1B | $804.0M | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — |
总债务MSISNDK
| Q1 26 | — | $603.0M | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益MSISNDK
| Q1 26 | — | $10.2B | ||
| Q4 25 | $2.4B | $9.4B | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.0B | $9.2B | ||
| Q1 25 | $1.6B | $9.2B | ||
| Q4 24 | $1.7B | $12.0B | ||
| Q3 24 | $1.3B | $12.1B | ||
| Q2 24 | $802.0M | — |
总资产MSISNDK
| Q1 26 | — | $13.0B | ||
| Q4 25 | $19.4B | $12.7B | ||
| Q3 25 | $18.8B | — | ||
| Q2 25 | $16.4B | $13.0B | ||
| Q1 25 | $14.4B | $13.0B | ||
| Q4 24 | $14.6B | $14.2B | ||
| Q3 24 | $13.9B | — | ||
| Q2 24 | $13.3B | — |
负债/权益比MSISNDK
| Q1 26 | — | 0.06× | ||
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.20× | ||
| Q1 25 | — | 0.21× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $1.1B | $980.0M |
| 自由现金流率自由现金流/营收 | 33.8% | 32.4% |
| 资本支出强度资本支出/营收 | 3.4% | 1.3% |
| 现金转化率经营现金流/净利润 | 1.94× | 1.27× |
| 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MSISNDK
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.3B | $488.0M | ||
| Q3 25 | $798.0M | — | ||
| Q2 25 | $273.0M | — | ||
| Q1 25 | $510.0M | $26.0M | ||
| Q4 24 | $1.1B | $95.0M | ||
| Q3 24 | $759.0M | $-131.0M | ||
| Q2 24 | $180.0M | — |
自由现金流MSISNDK
| Q1 26 | — | $980.0M | ||
| Q4 25 | $1.1B | $438.0M | ||
| Q3 25 | $732.0M | — | ||
| Q2 25 | $225.0M | — | ||
| Q1 25 | $473.0M | $-18.0M | ||
| Q4 24 | $984.0M | $47.0M | ||
| Q3 24 | $702.0M | $-198.0M | ||
| Q2 24 | $112.0M | — |
自由现金流率MSISNDK
| Q1 26 | — | 32.4% | ||
| Q4 25 | 33.8% | 19.0% | ||
| Q3 25 | 24.3% | — | ||
| Q2 25 | 8.1% | — | ||
| Q1 25 | 18.7% | -1.1% | ||
| Q4 24 | 32.7% | 2.5% | ||
| Q3 24 | 25.2% | -10.5% | ||
| Q2 24 | 4.3% | — |
资本支出强度MSISNDK
| Q1 26 | — | 1.3% | ||
| Q4 25 | 3.4% | 2.2% | ||
| Q3 25 | 2.2% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 1.5% | 2.6% | ||
| Q4 24 | 2.9% | 2.6% | ||
| Q3 24 | 2.0% | 3.6% | ||
| Q2 24 | 2.6% | — |
现金转化率MSISNDK
| Q1 26 | — | 1.27× | ||
| Q4 25 | 1.94× | 4.36× | ||
| Q3 25 | 1.42× | — | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | 1.19× | — | ||
| Q4 24 | 1.75× | 0.91× | ||
| Q3 24 | 1.35× | -0.62× | ||
| Q2 24 | 0.41× | — |
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% |
SNDK
| Edge | $1.7B | 55% |
| Consumer | $907.0M | 30% |
| Datacenter | $440.0M | 15% |
