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MACOM Technology Solutions Holdings, Inc.（MTSI）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
思佳讯的季度营收约是MACOM Technology Solutions Holdings, Inc.的3.8倍（$1.0B vs $271.6M），MACOM Technology Solutions Holdings, Inc.净利率更高（18.0% vs 7.6%，领先10.3%），MACOM Technology Solutions Holdings, Inc.同比增速更快（24.5% vs 8.6%），思佳讯自由现金流更多（$339.0M vs $30.0M），过去两年MACOM Technology Solutions Holdings, Inc.的营收复合增速更高（22.4% vs -0.5%）
MACOM是美国知名的射频、微波及毫米波半导体器件与组件研发生产商，总部位于马萨诸塞州洛厄尔，2005年曾是当地规模最大的私营雇主。公司已通过ISO9001国际质量体系认证及ISO14001环境管理体系认证，在北美、欧洲、亚洲及澳大利亚均设有设计中心与销售办事处。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
MTSI vs SWKS — 直观对比
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $271.6M | $1.0B |
| 净利润 | $48.8M | $79.2M |
| 毛利率 | 55.9% | 41.3% |
| 营业利润率 | 15.9% | 10.0% |
| 净利率 | 18.0% | 7.6% |
| 营收同比 | 24.5% | 8.6% |
| 净利润同比 | 129.1% | 15.3% |
| 每股收益（稀释后） | $0.64 | $0.53 |
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
| Q1 26 | $271.6M | $1.0B | ||
| Q4 25 | $261.2M | $1.1B | ||
| Q3 25 | $252.1M | — | ||
| Q2 25 | $235.9M | $965.0M | ||
| Q1 25 | $218.1M | $953.2M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $200.7M | $1.0B | ||
| Q2 24 | $190.5M | $905.5M |
| Q1 26 | $48.8M | $79.2M | ||
| Q4 25 | $45.1M | $141.4M | ||
| Q3 25 | $36.5M | — | ||
| Q2 25 | $31.7M | $105.0M | ||
| Q1 25 | $-167.5M | $68.7M | ||
| Q4 24 | — | $162.0M | ||
| Q3 24 | $29.4M | $60.5M | ||
| Q2 24 | $19.9M | $120.9M |
| Q1 26 | 55.9% | 41.3% | ||
| Q4 25 | 54.5% | 40.7% | ||
| Q3 25 | 55.3% | — | ||
| Q2 25 | 55.2% | 41.6% | ||
| Q1 25 | 53.7% | 41.1% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | 54.7% | 41.9% | ||
| Q2 24 | 53.2% | 40.2% |
| Q1 26 | 15.9% | 10.0% | ||
| Q4 25 | 15.2% | 10.1% | ||
| Q3 25 | 14.9% | — | ||
| Q2 25 | 14.8% | 11.5% | ||
| Q1 25 | 8.0% | 10.2% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | 13.7% | 5.8% | ||
| Q2 24 | 10.4% | 14.4% |
| Q1 26 | 18.0% | 7.6% | ||
| Q4 25 | 17.3% | 12.9% | ||
| Q3 25 | 14.5% | — | ||
| Q2 25 | 13.4% | 10.9% | ||
| Q1 25 | -76.8% | 7.2% | ||
| Q4 24 | — | 15.2% | ||
| Q3 24 | 14.7% | 5.9% | ||
| Q2 24 | 10.5% | 13.4% |
| Q1 26 | $0.64 | $0.53 | ||
| Q4 25 | $0.67 | $0.95 | ||
| Q3 25 | $0.48 | — | ||
| Q2 25 | $0.42 | $0.70 | ||
| Q1 25 | $-2.30 | $0.43 | ||
| Q4 24 | — | $1.00 | ||
| Q3 24 | $0.40 | $0.36 | ||
| Q2 24 | $0.27 | $0.75 |
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 | $768.5M | $1.6B |
| 总债务越低越好 | — | $496.6M |
| 股东权益账面价值 | $1.4B | $5.8B |
| 总资产 | $2.1B | $7.9B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
| Q1 26 | $768.5M | $1.6B | ||
| Q4 25 | $786.0M | $1.4B | ||
| Q3 25 | $735.2M | — | ||
| Q2 25 | $681.5M | $1.3B | ||
| Q1 25 | $656.5M | $1.5B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $581.9M | $1.6B | ||
| Q2 24 | $521.5M | $1.3B |
| Q1 26 | — | $496.6M | ||
| Q4 25 | — | $496.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $496.2M | ||
| Q1 25 | — | $995.1M | ||
| Q4 24 | — | $994.7M | ||
| Q3 24 | — | $994.3M | ||
| Q2 24 | — | $994.0M |
| Q1 26 | $1.4B | $5.8B | ||
| Q4 25 | $1.3B | $5.8B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.2B | $5.7B | ||
| Q1 25 | $1.2B | $5.9B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | $1.1B | $6.3B | ||
| Q2 24 | $1.1B | $6.3B |
| Q1 26 | $2.1B | $7.9B | ||
| Q4 25 | $2.1B | $7.9B | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $1.9B | $7.7B | ||
| Q1 25 | $1.8B | $7.9B | ||
| Q4 24 | — | $8.3B | ||
| Q3 24 | $1.8B | $8.3B | ||
| Q2 24 | $1.7B | $8.2B |
| Q1 26 | — | 0.09× | ||
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.09× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.16× |
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 | $42.9M | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $30.0M | $339.0M |
| 自由现金流率自由现金流/营收 | 11.0% | 32.7% |
| 资本支出强度资本支出/营收 | 4.8% | 5.5% |
| 现金转化率经营现金流/净利润 | 0.88× | 4.99× |
| 过去12个月自由现金流最近4个季度 | $161.5M | $1.1B |
8季度趋势，按日历期对齐
| Q1 26 | $42.9M | $395.5M | ||
| Q4 25 | $69.6M | $200.0M | ||
| Q3 25 | $60.4M | — | ||
| Q2 25 | $38.7M | $314.2M | ||
| Q1 25 | $66.7M | $409.4M | ||
| Q4 24 | — | $377.2M | ||
| Q3 24 | $62.3M | $476.1M | ||
| Q2 24 | $49.0M | $273.4M |
| Q1 26 | $30.0M | $339.0M | ||
| Q4 25 | $49.4M | $144.0M | ||
| Q3 25 | $51.6M | — | ||
| Q2 25 | $30.5M | $252.7M | ||
| Q1 25 | $61.3M | $370.9M | ||
| Q4 24 | — | $338.2M | ||
| Q3 24 | $57.1M | $393.3M | ||
| Q2 24 | $41.5M | $249.0M |
| Q1 26 | 11.0% | 32.7% | ||
| Q4 25 | 18.9% | 13.1% | ||
| Q3 25 | 20.5% | — | ||
| Q2 25 | 12.9% | 26.2% | ||
| Q1 25 | 28.1% | 38.9% | ||
| Q4 24 | — | 31.7% | ||
| Q3 24 | 28.5% | 38.4% | ||
| Q2 24 | 21.8% | 27.5% |
| Q1 26 | 4.8% | 5.5% | ||
| Q4 25 | 7.7% | 5.1% | ||
| Q3 25 | 3.5% | — | ||
| Q2 25 | 3.5% | 6.4% | ||
| Q1 25 | 2.4% | 4.0% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | 2.6% | 8.1% | ||
| Q2 24 | 3.9% | 2.7% |
| Q1 26 | 0.88× | 4.99× | ||
| Q4 25 | 1.54× | 1.41× | ||
| Q3 25 | 1.65× | — | ||
| Q2 25 | 1.22× | 2.99× | ||
| Q1 25 | — | 5.96× | ||
| Q4 24 | — | 2.33× | ||
| Q3 24 | 2.12× | 7.87× | ||
| Q2 24 | 2.46× | 2.26× |
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
MTSI
| Industrial Defense | $117.7M | 43% |
| Data Center | $85.8M | 32% |
| Telecom | $68.1M | 25% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
