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甲骨文（ORCL）与维萨（V）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维萨的1.4倍（$16.1B vs $11.2B），维萨净利率更高（53.4% vs 38.2%，领先15.2%），维萨同比增速更快（17.0% vs 14.2%），过去两年维萨的营收复合增速更高（12.3% vs 10.0%）
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。
维萨（Visa Inc.）是总部位于美国加利福尼亚州旧金山的跨国支付卡服务企业，业务覆盖全球电子资金转账领域，旗下拥有Visa品牌的信用卡、借记卡、预付卡等多条产品线，为全球消费者及商户提供安全便捷的电子支付解决方案。
ORCL vs V — 直观对比
营收规模更大
ORCL
是对方的1.4倍
$11.2B
营收增速更快
V
高出2.8%
14.2%
净利率更高
V
高出15.2%
38.2%
两年增速更快
V
近两年复合增速
10.0%
损益表 — Q2 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $16.1B | $11.2B |
| 净利润 | $6.1B | $6.0B |
| 毛利率 | — | — |
| 营业利润率 | 29.5% | 64.4% |
| 净利率 | 38.2% | 53.4% |
| 营收同比 | 14.2% | 17.0% |
| 净利润同比 | 94.7% | 32.0% |
| 每股收益（稀释后） | $2.10 | — |
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ORCLV
| Q2 26 | — | $11.2B | ||
| Q4 25 | $16.1B | $10.9B | ||
| Q3 25 | $14.9B | $10.7B | ||
| Q2 25 | $15.9B | $10.2B | ||
| Q1 25 | $14.1B | $9.6B | ||
| Q4 24 | $14.1B | $9.5B | ||
| Q3 24 | $13.3B | $9.6B | ||
| Q2 24 | $14.3B | $8.9B |
净利润ORCLV
| Q2 26 | — | $6.0B | ||
| Q4 25 | $6.1B | $5.9B | ||
| Q3 25 | $2.9B | $5.1B | ||
| Q2 25 | $3.4B | $5.3B | ||
| Q1 25 | $2.9B | $4.6B | ||
| Q4 24 | $3.2B | $5.1B | ||
| Q3 24 | $2.9B | $5.3B | ||
| Q2 24 | $3.1B | $4.9B |
营业利润率ORCLV
| Q2 26 | — | 64.4% | ||
| Q4 25 | 29.5% | 61.8% | ||
| Q3 25 | 28.7% | 57.3% | ||
| Q2 25 | 32.1% | 60.7% | ||
| Q1 25 | 30.8% | 56.6% | ||
| Q4 24 | 30.0% | 65.6% | ||
| Q3 24 | 30.0% | 66.0% | ||
| Q2 24 | 32.8% | 66.7% |
净利率ORCLV
| Q2 26 | — | 53.4% | ||
| Q4 25 | 38.2% | 53.7% | ||
| Q3 25 | 19.6% | 47.5% | ||
| Q2 25 | 21.5% | 51.8% | ||
| Q1 25 | 20.8% | 47.7% | ||
| Q4 24 | 22.4% | 53.8% | ||
| Q3 24 | 22.0% | 55.3% | ||
| Q2 24 | 22.0% | 54.7% |
每股收益（稀释后）ORCLV
| Q2 26 | — | — | ||
| 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 | $19.2B | $12.4B |
| 总债务越低越好 | — | $22.4B |
| 股东权益账面价值 | $30.0B | $35.7B |
| 总资产 | $205.0B | $95.0B |
| 负债/权益比越低杠杆越低 | — | 0.63× |
8季度趋势，按日历期对齐
现金及短期投资ORCLV
| Q2 26 | — | $12.4B | ||
| Q4 25 | $19.2B | $14.8B | ||
| Q3 25 | $10.4B | $17.2B | ||
| Q2 25 | $10.8B | $17.1B | ||
| Q1 25 | $17.4B | $11.7B | ||
| Q4 24 | $10.9B | $12.4B | ||
| Q3 24 | $10.6B | $12.0B | ||
| Q2 24 | $10.5B | $12.9B |
总债务ORCLV
| Q2 26 | — | $22.4B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ORCLV
| Q2 26 | — | $35.7B | ||
| Q4 25 | $30.0B | $38.8B | ||
| Q3 25 | $24.2B | $37.9B | ||
| Q2 25 | $20.5B | $38.7B | ||
| Q1 25 | $16.7B | $38.0B | ||
| Q4 24 | $13.7B | $38.3B | ||
| Q3 24 | $10.8B | $39.1B | ||
| Q2 24 | $8.7B | $39.7B |
总资产ORCLV
| Q2 26 | — | $95.0B | ||
| Q4 25 | $205.0B | $96.8B | ||
| Q3 25 | $180.4B | $99.6B | ||
| Q2 25 | $168.4B | $100.0B | ||
| Q1 25 | $161.4B | $92.9B | ||
| Q4 24 | $148.5B | $91.9B | ||
| Q3 24 | $144.2B | $94.5B | ||
| Q2 24 | $141.0B | $91.0B |
负债/权益比ORCLV
| Q2 26 | — | 0.63× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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 | $2.1B | — |
| 自由现金流经营现金流 - 资本支出 | $-10.0B | — |
| 自由现金流率自由现金流/营收 | -62.1% | — |
| 资本支出强度资本支出/营收 | 74.9% | — |
| 现金转化率经营现金流/净利润 | 0.34× | — |
| 过去12个月自由现金流最近4个季度 | $-13.2B | — |
8季度趋势，按日历期对齐
经营现金流ORCLV
| Q2 26 | — | — | ||
| Q4 25 | $2.1B | $6.8B | ||
| Q3 25 | $8.1B | $6.2B | ||
| Q2 25 | $6.2B | $6.7B | ||
| Q1 25 | $5.9B | $4.7B | ||
| Q4 24 | $1.3B | $5.4B | ||
| Q3 24 | $7.4B | $6.7B | ||
| Q2 24 | $6.1B | $5.1B |
自由现金流ORCLV
| Q2 26 | — | — | ||
| Q4 25 | $-10.0B | $6.4B | ||
| Q3 25 | $-362.0M | $5.8B | ||
| Q2 25 | $-2.9B | $6.3B | ||
| Q1 25 | $71.0M | $4.4B | ||
| Q4 24 | $-2.7B | $5.1B | ||
| Q3 24 | $5.1B | $6.4B | ||
| Q2 24 | $3.3B | $4.7B |
自由现金流率ORCLV
| Q2 26 | — | — | ||
| Q4 25 | -62.1% | 58.7% | ||
| Q3 25 | -2.4% | 54.5% | ||
| Q2 25 | -18.4% | 62.0% | ||
| Q1 25 | 0.5% | 45.5% | ||
| Q4 24 | -19.0% | 53.1% | ||
| Q3 24 | 38.5% | 66.1% | ||
| Q2 24 | 23.0% | 53.2% |
资本支出强度ORCLV
| Q2 26 | — | — | ||
| Q4 25 | 74.9% | 3.5% | ||
| Q3 25 | 57.0% | 3.6% | ||
| Q2 25 | 57.1% | 4.1% | ||
| Q1 25 | 41.5% | 3.4% | ||
| Q4 24 | 28.2% | 3.6% | ||
| Q3 24 | 17.3% | 3.2% | ||
| Q2 24 | 19.6% | 4.5% |
现金转化率ORCLV
| Q2 26 | — | — | ||
| Q4 25 | 0.34× | 1.16× | ||
| Q3 25 | 2.78× | 1.23× | ||
| Q2 25 | 1.80× | 1.28× | ||
| Q1 25 | 2.02× | 1.03× | ||
| Q4 24 | 0.41× | 1.05× | ||
| Q3 24 | 2.54× | 1.25× | ||
| Q2 24 | 1.93× | 1.05× |
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
| Software Support | $4.9B | 31% |
| Cloud Infrastructure | $4.1B | 25% |
| Cloud Applications | $3.9B | 24% |
| Services Business | $1.4B | 9% |
| Software License | $939.0M | 6% |
| Hardware Business | $776.0M | 5% |
V
| Data processing revenue | $5.5B | 49% |
| International transaction revenue | $3.6B | 32% |
| Other revenue | $1.3B | 12% |
| Other | $736.0M | 7% |
