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英伟达（NVDA）与斑马技术（ZBRA）财务数据对比。点击上方公司名可切换其他公司
英伟达的季度营收约是斑马技术的46.2倍（$68.1B vs $1.5B），英伟达净利率更高（63.1% vs 4.7%，领先58.3%），英伟达同比增速更快（73.2% vs 10.6%），英伟达自由现金流更多（$34.9B vs $327.0M），过去两年英伟达的营收复合增速更高（61.7% vs 12.0%）
英伟达是总部位于美国加利福尼亚州圣克拉拉的科技企业，1993年由黄仁勋、克里斯·马拉科夫斯基、柯蒂斯·普里姆联合创立。公司主营图形处理器（GPU）、系统级芯片（SoC）及应用程序接口（API）产品，覆盖数据科学、高性能计算、游戏、移动与车载应用等领域，是全球知名的头部科技企业之一。
斑马技术（Zebra Technologies）是源自美国的跨国科技企业，专注于智能数据采集系统领域的研发与落地。公司总部位于芝加哥郊外的伊利诺伊州林肯郡，目前在全球57个国家和地区开展业务，雇员总数达10700名。
NVDA vs ZBRA — 直观对比
营收规模更大
NVDA
是对方的46.2倍
$1.5B
营收增速更快
NVDA
高出62.6%
10.6%
净利率更高
NVDA
高出58.3%
4.7%
自由现金流更多
NVDA
多$34.6B
$327.0M
两年增速更快
NVDA
近两年复合增速
12.0%
损益表 — Q4 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $68.1B | $1.5B |
| 净利润 | $43.0B | $70.0M |
| 毛利率 | 75.0% | 47.3% |
| 营业利润率 | 65.0% | 9.4% |
| 净利率 | 63.1% | 4.7% |
| 营收同比 | 73.2% | 10.6% |
| 净利润同比 | 94.5% | -57.1% |
| 每股收益（稀释后） | $1.76 | $1.40 |
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NVDAZBRA
| Q1 26 | $68.1B | — | ||
| Q4 25 | $57.0B | $1.5B | ||
| Q3 25 | $46.7B | $1.3B | ||
| Q2 25 | $44.1B | $1.3B | ||
| Q1 25 | $39.3B | $1.3B | ||
| Q4 24 | $35.1B | $1.3B | ||
| Q3 24 | $30.0B | $1.3B | ||
| Q2 24 | $26.0B | $1.2B |
净利润NVDAZBRA
| Q1 26 | $43.0B | — | ||
| Q4 25 | $31.9B | $70.0M | ||
| Q3 25 | $26.4B | $101.0M | ||
| Q2 25 | $18.8B | $112.0M | ||
| Q1 25 | $22.1B | $136.0M | ||
| Q4 24 | $19.3B | $163.0M | ||
| Q3 24 | $16.6B | $137.0M | ||
| Q2 24 | $14.9B | $113.0M |
毛利率NVDAZBRA
| Q1 26 | 75.0% | — | ||
| Q4 25 | 73.4% | 47.3% | ||
| Q3 25 | 72.4% | 48.0% | ||
| Q2 25 | 60.5% | 47.6% | ||
| Q1 25 | 73.0% | 49.3% | ||
| Q4 24 | 74.6% | 48.6% | ||
| Q3 24 | 75.1% | 48.8% | ||
| Q2 24 | 78.4% | 48.4% |
营业利润率NVDAZBRA
| Q1 26 | 65.0% | — | ||
| Q4 25 | 63.2% | 9.4% | ||
| Q3 25 | 60.8% | 13.9% | ||
| Q2 25 | 49.1% | 14.2% | ||
| Q1 25 | 61.1% | 14.9% | ||
| Q4 24 | 62.3% | 16.9% | ||
| Q3 24 | 62.1% | 15.2% | ||
| Q2 24 | 64.9% | 13.7% |
净利率NVDAZBRA
| Q1 26 | 63.1% | — | ||
| Q4 25 | 56.0% | 4.7% | ||
| Q3 25 | 56.5% | 7.7% | ||
| Q2 25 | 42.6% | 8.7% | ||
| Q1 25 | 56.2% | 10.4% | ||
| Q4 24 | 55.0% | 12.2% | ||
| Q3 24 | 55.3% | 10.9% | ||
| Q2 24 | 57.1% | 9.3% |
每股收益（稀释后）NVDAZBRA
| Q1 26 | $1.76 | — | ||
| Q4 25 | $1.30 | $1.40 | ||
| Q3 25 | $1.08 | $1.97 | ||
| Q2 25 | $0.76 | $2.19 | ||
| Q1 25 | $-4.49 | $2.62 | ||
| Q4 24 | $0.78 | $3.14 | ||
| Q3 24 | $0.67 | $2.64 | ||
| Q2 24 | $5.98 | $2.17 |
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 | $10.6B | $125.0M |
| 总债务越低越好 | $8.5B | — |
| 股东权益账面价值 | $157.3B | $3.6B |
| 总资产 | $206.8B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.05× | — |
8季度趋势，按日历期对齐
现金及短期投资NVDAZBRA
| Q1 26 | $10.6B | — | ||
| Q4 25 | $60.6B | $125.0M | ||
| Q3 25 | $56.8B | $1.1B | ||
| Q2 25 | $53.7B | $872.0M | ||
| Q1 25 | $43.2B | $879.0M | ||
| Q4 24 | $38.5B | $901.0M | ||
| Q3 24 | $34.8B | $676.0M | ||
| Q2 24 | $31.4B | $411.0M |
总债务NVDAZBRA
| Q1 26 | $8.5B | — | ||
| Q4 25 | $8.5B | — | ||
| Q3 25 | $8.5B | $2.2B | ||
| Q2 25 | $8.5B | $2.2B | ||
| Q1 25 | $8.5B | $2.2B | ||
| Q4 24 | $8.5B | — | ||
| Q3 24 | $8.5B | $2.2B | ||
| Q2 24 | $9.7B | $2.2B |
股东权益NVDAZBRA
| Q1 26 | $157.3B | — | ||
| Q4 25 | $118.9B | $3.6B | ||
| Q3 25 | $100.1B | $3.7B | ||
| Q2 25 | $83.8B | $3.6B | ||
| Q1 25 | $79.3B | $3.6B | ||
| Q4 24 | $65.9B | $3.6B | ||
| Q3 24 | $58.2B | $3.4B | ||
| Q2 24 | $49.1B | $3.3B |
总资产NVDAZBRA
| Q1 26 | $206.8B | — | ||
| Q4 25 | $161.1B | $8.5B | ||
| Q3 25 | $140.7B | $8.1B | ||
| Q2 25 | $125.3B | $7.9B | ||
| Q1 25 | $111.6B | $7.9B | ||
| Q4 24 | $96.0B | $8.0B | ||
| Q3 24 | $85.2B | $7.7B | ||
| Q2 24 | $77.1B | $7.5B |
负债/权益比NVDAZBRA
| Q1 26 | 0.05× | — | ||
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.08× | 0.58× | ||
| Q2 25 | 0.10× | 0.60× | ||
| Q1 25 | 0.11× | 0.60× | ||
| Q4 24 | 0.13× | — | ||
| Q3 24 | 0.15× | 0.64× | ||
| Q2 24 | 0.20× | 0.66× |
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 | $36.2B | $357.0M |
| 自由现金流经营现金流 - 资本支出 | $34.9B | $327.0M |
| 自由现金流率自由现金流/营收 | 51.2% | 22.2% |
| 资本支出强度资本支出/营收 | 1.9% | 2.0% |
| 现金转化率经营现金流/净利润 | 0.84× | 5.10× |
| 过去12个月自由现金流最近4个季度 | $96.7B | $831.0M |
8季度趋势，按日历期对齐
经营现金流NVDAZBRA
| Q1 26 | $36.2B | — | ||
| Q4 25 | $23.8B | $357.0M | ||
| Q3 25 | $15.4B | $235.0M | ||
| Q2 25 | $27.4B | $147.0M | ||
| Q1 25 | $16.6B | $178.0M | ||
| Q4 24 | $17.6B | $306.0M | ||
| Q3 24 | $14.5B | $294.0M | ||
| Q2 24 | $15.3B | $288.0M |
自由现金流NVDAZBRA
| Q1 26 | $34.9B | — | ||
| Q4 25 | $22.1B | $327.0M | ||
| Q3 25 | $13.5B | $216.0M | ||
| Q2 25 | $26.2B | $130.0M | ||
| Q1 25 | $15.6B | $158.0M | ||
| Q4 24 | $16.8B | $288.0M | ||
| Q3 24 | $13.5B | $277.0M | ||
| Q2 24 | $15.0B | $278.0M |
自由现金流率NVDAZBRA
| Q1 26 | 51.2% | — | ||
| Q4 25 | 38.8% | 22.2% | ||
| Q3 25 | 28.8% | 16.4% | ||
| Q2 25 | 59.4% | 10.1% | ||
| Q1 25 | 39.5% | 12.1% | ||
| Q4 24 | 47.9% | 21.6% | ||
| Q3 24 | 45.0% | 22.1% | ||
| Q2 24 | 57.5% | 22.8% |
资本支出强度NVDAZBRA
| Q1 26 | 1.9% | — | ||
| Q4 25 | 2.9% | 2.0% | ||
| Q3 25 | 4.1% | 1.4% | ||
| Q2 25 | 2.8% | 1.3% | ||
| Q1 25 | 2.7% | 1.5% | ||
| Q4 24 | 2.3% | 1.3% | ||
| Q3 24 | 3.3% | 1.4% | ||
| Q2 24 | 1.4% | 0.8% |
现金转化率NVDAZBRA
| Q1 26 | 0.84× | — | ||
| Q4 25 | 0.74× | 5.10× | ||
| Q3 25 | 0.58× | 2.33× | ||
| Q2 25 | 1.46× | 1.31× | ||
| Q1 25 | 0.75× | 1.31× | ||
| Q4 24 | 0.91× | 1.88× | ||
| Q3 24 | 0.87× | 2.15× | ||
| Q2 24 | 1.03× | 2.55× |
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
NVDA
| Compute | $51.3B | 75% |
| Networking | $11.0B | 16% |
| Gaming | $3.7B | 5% |
| Professional Visualization | $1.3B | 2% |
| Automotive | $604.0M | 1% |
| OEM And Other | $161.0M | 0% |
| Inventory Purchase Obligations In Excess Of Projections | $31.0M | 0% |
ZBRA
| Tangible Products | $1.2B | 83% |
| Service And Software | $255.0M | 17% |
