vs
帕卡（PCAR）与高通（QCOM）财务数据对比。点击上方公司名可切换其他公司
高通的季度营收约是帕卡的1.8倍（$12.3B vs $6.8B），高通净利率更高（24.5% vs 8.2%，领先16.4%），高通同比增速更快（5.0% vs -13.7%），高通自由现金流更多（$4.4B vs $954.4M），过去两年高通的营收复合增速更高（14.2% vs -11.7%）
帕卡是美国知名重型卡车制造企业，总部位于华盛顿州贝尔维尤，旗下拥有肯沃斯、彼得比尔特、DAF卡车三大核心子品牌，同时布局金融服务、工业零部件供应业务，在全球商用车领域占据重要市场地位。
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。
PCAR vs QCOM — 直观对比
营收规模更大
QCOM
是对方的1.8倍
$6.8B
营收增速更快
QCOM
高出18.7%
-13.7%
净利率更高
QCOM
高出16.4%
8.2%
自由现金流更多
QCOM
多$3.5B
$954.4M
两年增速更快
QCOM
近两年复合增速
-11.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.8B | $12.3B |
| 净利润 | $556.9M | $3.0B |
| 毛利率 | 19.3% | 54.6% |
| 营业利润率 | 10.3% | 27.5% |
| 净利率 | 8.2% | 24.5% |
| 营收同比 | -13.7% | 5.0% |
| 净利润同比 | -36.1% | -5.5% |
| 每股收益（稀释后） | $1.06 | $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PCARQCOM
| Q4 25 | $6.8B | $12.3B | ||
| Q3 25 | $6.7B | $11.3B | ||
| Q2 25 | $7.5B | $10.4B | ||
| Q1 25 | $7.4B | $11.0B | ||
| Q4 24 | $7.9B | $11.7B | ||
| Q3 24 | $8.2B | $10.2B | ||
| Q2 24 | $8.8B | $9.4B | ||
| Q1 24 | $8.7B | $9.4B |
净利润PCARQCOM
| Q4 25 | $556.9M | $3.0B | ||
| Q3 25 | $590.0M | $-3.1B | ||
| Q2 25 | $723.8M | $2.7B | ||
| Q1 25 | $505.1M | $2.8B | ||
| Q4 24 | $872.0M | $3.2B | ||
| Q3 24 | $972.1M | $2.9B | ||
| Q2 24 | $1.1B | $2.1B | ||
| Q1 24 | $1.2B | $2.3B |
毛利率PCARQCOM
| Q4 25 | 19.3% | 54.6% | ||
| Q3 25 | 19.9% | 55.3% | ||
| Q2 25 | 20.2% | 55.6% | ||
| Q1 25 | 20.8% | 55.0% | ||
| Q4 24 | 21.6% | 55.8% | ||
| Q3 24 | 22.0% | 56.4% | ||
| Q2 24 | 22.8% | 55.6% | ||
| Q1 24 | 23.7% | 56.3% |
营业利润率PCARQCOM
| Q4 25 | 10.3% | 27.5% | ||
| Q3 25 | 11.1% | 25.9% | ||
| Q2 25 | 12.4% | 26.6% | ||
| Q1 25 | 8.6% | 28.4% | ||
| Q4 24 | 14.5% | 30.5% | ||
| Q3 24 | 15.2% | 25.2% | ||
| Q2 24 | 16.7% | 23.6% | ||
| Q1 24 | 17.5% | 24.9% |
净利率PCARQCOM
| Q4 25 | 8.2% | 24.5% | ||
| Q3 25 | 8.8% | -27.7% | ||
| Q2 25 | 9.6% | 25.7% | ||
| Q1 25 | 6.8% | 25.6% | ||
| Q4 24 | 11.0% | 27.3% | ||
| Q3 24 | 11.8% | 28.5% | ||
| Q2 24 | 12.8% | 22.7% | ||
| Q1 24 | 13.7% | 24.8% |
每股收益（稀释后）PCARQCOM
| Q4 25 | $1.06 | $2.78 | ||
| Q3 25 | $1.12 | $-2.77 | ||
| Q2 25 | $1.37 | $2.43 | ||
| Q1 25 | $0.96 | $2.52 | ||
| Q4 24 | $1.65 | $2.83 | ||
| Q3 24 | $1.85 | $2.57 | ||
| Q2 24 | $2.13 | $1.88 | ||
| Q1 24 | $2.27 | $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 | — | $11.8B |
| 总债务越低越好 | — | $14.8B |
| 股东权益账面价值 | $19.3B | $23.1B |
| 总资产 | $44.3B | $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PCARQCOM
| Q4 25 | — | $11.8B | ||
| Q3 25 | — | $10.2B | ||
| Q2 25 | — | $10.0B | ||
| Q1 25 | — | $13.8B | ||
| Q4 24 | — | $14.3B | ||
| Q3 24 | — | $13.3B | ||
| Q2 24 | — | $13.0B | ||
| Q1 24 | — | $13.9B |
总债务PCARQCOM
| Q4 25 | — | $14.8B | ||
| Q3 25 | — | $14.8B | ||
| Q2 25 | — | $14.8B | ||
| Q1 25 | — | $13.3B | ||
| Q4 24 | — | $13.2B | ||
| Q3 24 | — | $13.3B | ||
| Q2 24 | — | $13.2B | ||
| Q1 24 | — | $14.5B |
股东权益PCARQCOM
| Q4 25 | $19.3B | $23.1B | ||
| Q3 25 | $19.4B | $21.2B | ||
| Q2 25 | $18.9B | $27.2B | ||
| Q1 25 | $18.0B | $27.7B | ||
| Q4 24 | $17.5B | $26.9B | ||
| Q3 24 | $18.7B | $26.3B | ||
| Q2 24 | $17.7B | $24.7B | ||
| Q1 24 | $16.9B | $24.5B |
总资产PCARQCOM
| Q4 25 | $44.3B | $53.0B | ||
| Q3 25 | $44.2B | $50.1B | ||
| Q2 25 | $44.1B | $54.9B | ||
| Q1 25 | $42.7B | $55.4B | ||
| Q4 24 | $43.4B | $55.6B | ||
| Q3 24 | $43.3B | $55.2B | ||
| Q2 24 | $41.2B | $52.7B | ||
| Q1 24 | $40.4B | $53.2B |
负债/权益比PCARQCOM
| Q4 25 | — | 0.64× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | — | 0.54× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.49× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | — | 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 | $1.1B | $5.0B |
| 自由现金流经营现金流 - 资本支出 | $954.4M | $4.4B |
| 自由现金流率自由现金流/营收 | 14.0% | 36.0% |
| 资本支出强度资本支出/营收 | 2.8% | 4.5% |
| 现金转化率经营现金流/净利润 | 2.05× | 1.65× |
| 过去12个月自由现金流最近4个季度 | $3.7B | $12.9B |
8季度趋势，按日历期对齐
经营现金流PCARQCOM
| Q4 25 | $1.1B | $5.0B | ||
| Q3 25 | $1.5B | $4.0B | ||
| Q2 25 | $833.4M | $2.9B | ||
| Q1 25 | $910.3M | $2.6B | ||
| Q4 24 | $1.4B | $4.6B | ||
| Q3 24 | $1.3B | $2.6B | ||
| Q2 24 | $440.0M | $3.1B | ||
| Q1 24 | $1.5B | $3.6B |
自由现金流PCARQCOM
| Q4 25 | $954.4M | $4.4B | ||
| Q3 25 | $1.4B | $3.6B | ||
| Q2 25 | $611.3M | $2.6B | ||
| Q1 25 | $745.2M | $2.3B | ||
| Q4 24 | $1.2B | $4.3B | ||
| Q3 24 | $1.1B | $2.4B | ||
| Q2 24 | $219.7M | $2.7B | ||
| Q1 24 | $1.3B | $3.4B |
自由现金流率PCARQCOM
| Q4 25 | 14.0% | 36.0% | ||
| Q3 25 | 20.4% | 31.8% | ||
| Q2 25 | 8.1% | 24.9% | ||
| Q1 25 | 10.0% | 21.3% | ||
| Q4 24 | 15.3% | 36.9% | ||
| Q3 24 | 13.3% | 23.3% | ||
| Q2 24 | 2.5% | 28.4% | ||
| Q1 24 | 14.6% | 35.9% |
资本支出强度PCARQCOM
| Q4 25 | 2.8% | 4.5% | ||
| Q3 25 | 2.5% | 3.6% | ||
| Q2 25 | 3.0% | 2.8% | ||
| Q1 25 | 2.2% | 1.9% | ||
| Q4 24 | 3.0% | 2.4% | ||
| Q3 24 | 2.4% | 2.5% | ||
| Q2 24 | 2.5% | 4.1% | ||
| Q1 24 | 2.2% | 2.0% |
现金转化率PCARQCOM
| Q4 25 | 2.05× | 1.65× | ||
| Q3 25 | 2.59× | — | ||
| Q2 25 | 1.15× | 1.08× | ||
| Q1 25 | 1.80× | 0.91× | ||
| Q4 24 | 1.66× | 1.44× | ||
| Q3 24 | 1.32× | 0.91× | ||
| Q2 24 | 0.39× | 1.43× | ||
| Q1 24 | 1.23× | 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
PCAR
| Truck Subsegment | $4.5B | 66% |
| Parts Subsegment | $1.7B | 25% |
| Other | $359.4M | 5% |
| Financial Services | $208.1M | 3% |
QCOM
| Handsets | $7.8B | 64% |
| Io T | $1.7B | 14% |
| Qtl | $1.6B | 13% |
| Automotive | $1.1B | 9% |
