vs
甲骨文（ORCL）与拼多多（PDD）财务数据对比。点击上方公司名可切换其他公司
甲骨文的季度营收约是拼多多的1.1倍（$17.2B vs $15.2B），拼多多净利率更高（27.1% vs 21.6%，领先5.4%），过去两年拼多多的营收复合增速更高（74.6% vs 9.7%）
甲骨文公司是全球知名的企业软件公司，主打数据库软件、企业级应用软件、云基础设施与云服务等业务，为全球各行业的企业提供数字化转型、数据管理与业务运营的技术解决方案，在全球企业级科技领域占据重要地位。
PDD控股是总部位于爱尔兰的跨国企业，旗下拥有中国头部线上零售平台拼多多和跨境电商平台Temu。拼多多主打农业供应链数字化升级，助力农产品直接对接广大消费者需求。
ORCL vs PDD — 直观对比
营收规模更大
ORCL
是对方的1.1倍
$15.2B
净利率更高
PDD
高出5.4%
21.6%
两年增速更快
PDD
近两年复合增速
9.7%
损益表 — Q3 FY2027 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $17.2B | $15.2B |
| 净利润 | $3.7B | $4.1B |
| 毛利率 | — | 56.7% |
| 营业利润率 | 31.8% | 23.1% |
| 净利率 | 21.6% | 27.1% |
| 营收同比 | 100.0% | — |
| 净利润同比 | 22.0% | — |
| 每股收益（稀释后） | $1.27 | — |
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ORCLPDD
| Q4 26 | $17.2B | — | ||
| Q4 25 | $16.1B | — | ||
| Q3 25 | $14.9B | $15.2B | ||
| Q2 25 | $15.9B | $14.5B | ||
| Q1 25 | $14.1B | — | ||
| Q4 24 | $14.1B | — | ||
| Q3 24 | $13.3B | $14.2B | ||
| Q2 24 | $14.3B | — |
净利润ORCLPDD
| Q4 26 | $3.7B | — | ||
| Q4 25 | $6.1B | — | ||
| Q3 25 | $2.9B | $4.1B | ||
| Q2 25 | $3.4B | $4.3B | ||
| Q1 25 | $2.9B | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $2.9B | $3.6B | ||
| Q2 24 | $3.1B | — |
毛利率ORCLPDD
| Q4 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 56.7% | ||
| Q2 25 | — | 55.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 60.0% | ||
| Q2 24 | — | — |
营业利润率ORCLPDD
| Q4 26 | 31.8% | — | ||
| Q4 25 | 29.5% | — | ||
| Q3 25 | 28.7% | 23.1% | ||
| Q2 25 | 32.1% | 24.8% | ||
| Q1 25 | 30.8% | — | ||
| Q4 24 | 30.0% | — | ||
| Q3 24 | 30.0% | 24.5% | ||
| Q2 24 | 32.8% | — |
净利率ORCLPDD
| Q4 26 | 21.6% | — | ||
| Q4 25 | 38.2% | — | ||
| Q3 25 | 19.6% | 27.1% | ||
| Q2 25 | 21.5% | 29.6% | ||
| Q1 25 | 20.8% | — | ||
| Q4 24 | 22.4% | — | ||
| Q3 24 | 22.0% | 25.1% | ||
| Q2 24 | 22.0% | — |
每股收益（稀释后）ORCLPDD
| Q4 26 | $1.27 | — | ||
| Q4 25 | $2.10 | — | ||
| Q3 25 | $1.01 | — | ||
| Q2 25 | $1.19 | — | ||
| Q1 25 | $1.02 | — | ||
| Q4 24 | $1.10 | — | ||
| Q3 24 | $1.03 | — | ||
| Q2 24 | $1.11 | — |
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 | $38.5B | $13.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $55.0B |
| 总资产 | $245.2B | $86.2B |
| 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ORCLPDD
| Q4 26 | $38.5B | — | ||
| Q4 25 | $19.2B | — | ||
| Q3 25 | $10.4B | $13.0B | ||
| Q2 25 | $10.8B | $8.8B | ||
| Q1 25 | $17.4B | — | ||
| Q4 24 | $10.9B | — | ||
| Q3 24 | $10.6B | $9.3B | ||
| Q2 24 | $10.5B | — |
股东权益ORCLPDD
| Q4 26 | — | — | ||
| Q4 25 | $30.0B | — | ||
| Q3 25 | $24.2B | $55.0B | ||
| Q2 25 | $20.5B | $50.5B | ||
| Q1 25 | $16.7B | — | ||
| Q4 24 | $13.7B | — | ||
| Q3 24 | $10.8B | $39.7B | ||
| Q2 24 | $8.7B | — |
总资产ORCLPDD
| Q4 26 | $245.2B | — | ||
| Q4 25 | $205.0B | — | ||
| Q3 25 | $180.4B | $86.2B | ||
| Q2 25 | $168.4B | $79.2B | ||
| Q1 25 | $161.4B | — | ||
| Q4 24 | $148.5B | — | ||
| Q3 24 | $144.2B | $66.5B | ||
| Q2 24 | $141.0B | — |
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 | $17.4B | $6.4B |
| 自由现金流经营现金流 - 资本支出 | $11.3B | — |
| 自由现金流率自由现金流/营收 | 65.6% | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 4.66× | 1.56× |
| 过去12个月自由现金流最近4个季度 | $-2.0B | — |
8季度趋势，按日历期对齐
经营现金流ORCLPDD
| Q4 26 | $17.4B | — | ||
| Q4 25 | $2.1B | — | ||
| Q3 25 | $8.1B | $6.4B | ||
| Q2 25 | $6.2B | $3.0B | ||
| Q1 25 | $5.9B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $7.4B | $3.9B | ||
| Q2 24 | $6.1B | — |
自由现金流ORCLPDD
| Q4 26 | $11.3B | — | ||
| Q4 25 | $-10.0B | — | ||
| Q3 25 | $-362.0M | — | ||
| Q2 25 | $-2.9B | — | ||
| Q1 25 | $71.0M | — | ||
| Q4 24 | $-2.7B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $3.3B | — |
自由现金流率ORCLPDD
| Q4 26 | 65.6% | — | ||
| Q4 25 | -62.1% | — | ||
| Q3 25 | -2.4% | — | ||
| Q2 25 | -18.4% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | -19.0% | — | ||
| Q3 24 | 38.5% | — | ||
| Q2 24 | 23.0% | — |
资本支出强度ORCLPDD
| Q4 26 | — | — | ||
| Q4 25 | 74.9% | — | ||
| Q3 25 | 57.0% | — | ||
| Q2 25 | 57.1% | — | ||
| Q1 25 | 41.5% | — | ||
| Q4 24 | 28.2% | — | ||
| Q3 24 | 17.3% | — | ||
| Q2 24 | 19.6% | — |
现金转化率ORCLPDD
| Q4 26 | 4.66× | — | ||
| Q4 25 | 0.34× | — | ||
| Q3 25 | 2.78× | 1.56× | ||
| Q2 25 | 1.80× | 0.70× | ||
| Q1 25 | 2.02× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 2.54× | 1.10× | ||
| Q2 24 | 1.93× | — |
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
ORCL
| Cloud | $8.9B | 52% |
| Software | $6.1B | 36% |
| Services | $1.4B | 8% |
| Hardware | $714.0M | 4% |
PDD
暂无分部数据
