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耐克（NKE）与高通（QCOM）财务数据对比。点击上方公司名可切换其他公司
耐克的季度营收约是高通的1.0倍（$12.4B vs $12.3B），高通净利率更高（24.5% vs 6.4%，领先18.1%），高通同比增速更快（5.0% vs 0.6%），高通自由现金流更多（$4.4B vs $386.0M），过去两年高通的营收复合增速更高（14.2% vs -0.0%）
耐克（Nike, Inc.）是源自美国的全球知名运动企业，主要从事运动鞋、运动服饰及专业运动装备的设计、生产与销售，产品覆盖跑步、篮球、健身等众多运动及日常休闲场景，在全球市场拥有极高品牌认可度与庞大用户群体。
高通是总部位于美国加利福尼亚州圣迭戈、在特拉华州注册的跨国企业，主营无线技术相关的半导体、软件及服务业务，持有5G、4G、CDMA2000、TD-SCDMA、WCDMA等移动通信标准的核心专利，是全球无线通信领域的核心供应商。
NKE vs QCOM — 直观对比
营收规模更大
NKE
是对方的1.0倍
$12.3B
营收增速更快
QCOM
高出4.4%
0.6%
净利率更高
QCOM
高出18.1%
6.4%
自由现金流更多
QCOM
多$4.0B
$386.0M
两年增速更快
QCOM
近两年复合增速
-0.0%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $12.4B | $12.3B |
| 净利润 | $792.0M | $3.0B |
| 毛利率 | 40.6% | 54.6% |
| 营业利润率 | — | 27.5% |
| 净利率 | 6.4% | 24.5% |
| 营收同比 | 0.6% | 5.0% |
| 净利润同比 | -31.9% | -5.5% |
| 每股收益（稀释后） | $0.53 | $2.78 |
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NKEQCOM
| Q4 25 | $12.4B | $12.3B | ||
| Q3 25 | $11.7B | $11.3B | ||
| Q2 25 | $11.1B | $10.4B | ||
| Q1 25 | $11.3B | $11.0B | ||
| Q4 24 | $12.4B | $11.7B | ||
| Q3 24 | $11.6B | $10.2B | ||
| Q2 24 | $12.6B | $9.4B | ||
| Q1 24 | $12.4B | $9.4B |
净利润NKEQCOM
| Q4 25 | $792.0M | $3.0B | ||
| Q3 25 | $727.0M | $-3.1B | ||
| Q2 25 | $211.0M | $2.7B | ||
| Q1 25 | $794.0M | $2.8B | ||
| Q4 24 | $1.2B | $3.2B | ||
| Q3 24 | $1.1B | $2.9B | ||
| Q2 24 | $1.5B | $2.1B | ||
| Q1 24 | $1.2B | $2.3B |
毛利率NKEQCOM
| Q4 25 | 40.6% | 54.6% | ||
| Q3 25 | 42.2% | 55.3% | ||
| Q2 25 | 40.3% | 55.6% | ||
| Q1 25 | 41.5% | 55.0% | ||
| Q4 24 | 43.6% | 55.8% | ||
| Q3 24 | 45.4% | 56.4% | ||
| Q2 24 | 44.7% | 55.6% | ||
| Q1 24 | 44.8% | 56.3% |
营业利润率NKEQCOM
| Q4 25 | — | 27.5% | ||
| Q3 25 | — | 25.9% | ||
| Q2 25 | 2.9% | 26.6% | ||
| Q1 25 | 7.5% | 28.4% | ||
| Q4 24 | 11.5% | 30.5% | ||
| Q3 24 | 11.3% | 25.2% | ||
| Q2 24 | 13.7% | 23.6% | ||
| Q1 24 | 11.3% | 24.9% |
净利率NKEQCOM
| Q4 25 | 6.4% | 24.5% | ||
| Q3 25 | 6.2% | -27.7% | ||
| Q2 25 | 1.9% | 25.7% | ||
| Q1 25 | 7.0% | 25.6% | ||
| Q4 24 | 9.4% | 27.3% | ||
| Q3 24 | 9.1% | 28.5% | ||
| Q2 24 | 11.9% | 22.7% | ||
| Q1 24 | 9.4% | 24.8% |
每股收益（稀释后）NKEQCOM
| Q4 25 | $0.53 | $2.78 | ||
| Q3 25 | $0.49 | $-2.77 | ||
| Q2 25 | $0.14 | $2.43 | ||
| Q1 25 | $0.54 | $2.52 | ||
| Q4 24 | $0.78 | $2.83 | ||
| Q3 24 | $0.70 | $2.57 | ||
| Q2 24 | $0.99 | $1.88 | ||
| Q1 24 | $0.77 | $2.06 |
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 | $7.0B | $11.8B |
| 总债务越低越好 | — | $14.8B |
| 股东权益账面价值 | $14.1B | $23.1B |
| 总资产 | $37.8B | $53.0B |
| 负债/权益比越低杠杆越低 | — | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资NKEQCOM
| Q4 25 | $7.0B | $11.8B | ||
| Q3 25 | $7.0B | $10.2B | ||
| Q2 25 | $7.5B | $10.0B | ||
| Q1 25 | $8.6B | $13.8B | ||
| Q4 24 | $8.0B | $14.3B | ||
| Q3 24 | $8.5B | $13.3B | ||
| Q2 24 | $9.9B | $13.0B | ||
| Q1 24 | $9.0B | $13.9B |
总债务NKEQCOM
| Q4 25 | — | $14.8B | ||
| Q3 25 | — | $14.8B | ||
| Q2 25 | $8.0B | $14.8B | ||
| Q1 25 | — | $13.3B | ||
| Q4 24 | — | $13.2B | ||
| Q3 24 | — | $13.3B | ||
| Q2 24 | $8.9B | $13.2B | ||
| Q1 24 | — | $14.5B |
股东权益NKEQCOM
| Q4 25 | $14.1B | $23.1B | ||
| Q3 25 | $13.5B | $21.2B | ||
| Q2 25 | $13.2B | $27.2B | ||
| Q1 25 | $14.0B | $27.7B | ||
| Q4 24 | $14.0B | $26.9B | ||
| Q3 24 | $13.9B | $26.3B | ||
| Q2 24 | $14.4B | $24.7B | ||
| Q1 24 | $14.2B | $24.5B |
总资产NKEQCOM
| Q4 25 | $37.8B | $53.0B | ||
| Q3 25 | $37.3B | $50.1B | ||
| Q2 25 | $36.6B | $54.9B | ||
| Q1 25 | $37.8B | $55.4B | ||
| Q4 24 | $38.0B | $55.6B | ||
| Q3 24 | $37.9B | $55.2B | ||
| Q2 24 | $38.1B | $52.7B | ||
| Q1 24 | $37.4B | $53.2B |
负债/权益比NKEQCOM
| Q4 25 | — | 0.64× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | 0.60× | 0.54× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.49× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | 0.62× | 0.53× | ||
| Q1 24 | — | 0.59× |
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 | $579.0M | $5.0B |
| 自由现金流经营现金流 - 资本支出 | $386.0M | $4.4B |
| 自由现金流率自由现金流/营收 | 3.1% | 36.0% |
| 资本支出强度资本支出/营收 | 1.6% | 4.5% |
| 现金转化率经营现金流/净利润 | 0.73× | 1.65× |
| 过去12个月自由现金流最近4个季度 | $2.5B | $12.9B |
8季度趋势，按日历期对齐
经营现金流NKEQCOM
| Q4 25 | $579.0M | $5.0B | ||
| Q3 25 | $222.0M | $4.0B | ||
| Q2 25 | $463.0M | $2.9B | ||
| Q1 25 | $1.8B | $2.6B | ||
| Q4 24 | $1.0B | $4.6B | ||
| Q3 24 | $394.0M | $2.6B | ||
| Q2 24 | $2.6B | $3.1B | ||
| Q1 24 | $2.1B | $3.6B |
自由现金流NKEQCOM
| Q4 25 | $386.0M | $4.4B | ||
| Q3 25 | $15.0M | $3.6B | ||
| Q2 25 | $363.0M | $2.6B | ||
| Q1 25 | $1.7B | $2.3B | ||
| Q4 24 | $920.0M | $4.3B | ||
| Q3 24 | $274.0M | $2.4B | ||
| Q2 24 | $2.4B | $2.7B | ||
| Q1 24 | $1.9B | $3.4B |
自由现金流率NKEQCOM
| Q4 25 | 3.1% | 36.0% | ||
| Q3 25 | 0.1% | 31.8% | ||
| Q2 25 | 3.3% | 24.9% | ||
| Q1 25 | 15.2% | 21.3% | ||
| Q4 24 | 7.4% | 36.9% | ||
| Q3 24 | 2.4% | 23.3% | ||
| Q2 24 | 19.1% | 28.4% | ||
| Q1 24 | 15.4% | 35.9% |
资本支出强度NKEQCOM
| Q4 25 | 1.6% | 4.5% | ||
| Q3 25 | 1.8% | 3.6% | ||
| Q2 25 | 0.9% | 2.8% | ||
| Q1 25 | 0.7% | 1.9% | ||
| Q4 24 | 1.0% | 2.4% | ||
| Q3 24 | 1.0% | 2.5% | ||
| Q2 24 | 1.7% | 4.1% | ||
| Q1 24 | 1.1% | 2.0% |
现金转化率NKEQCOM
| Q4 25 | 0.73× | 1.65× | ||
| Q3 25 | 0.31× | — | ||
| Q2 25 | 2.19× | 1.08× | ||
| Q1 25 | 2.26× | 0.91× | ||
| Q4 24 | 0.90× | 1.44× | ||
| Q3 24 | 0.37× | 0.91× | ||
| Q2 24 | 1.75× | 1.43× | ||
| Q1 24 | 1.76× | 1.53× |
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
NKE
| Footwear | $7.7B | 62% |
| Apparel | $3.9B | 31% |
| Sporting Equipment | $550.0M | 4% |
| Converse Segment | $300.0M | 2% |
| Sales Channel Other | $9.0M | 0% |
QCOM
| Handsets | $7.8B | 64% |
| Io T | $1.7B | 14% |
| Qtl | $1.6B | 13% |
| Automotive | $1.1B | 9% |
