vs
辉瑞（PFE）与高通（QCOM）财务数据对比。点击上方公司名可切换其他公司
辉瑞的季度营收约是高通的1.4倍（$14.5B vs $10.6B），高通净利率更高（69.5% vs 18.6%，领先50.9%），辉瑞同比增速更快（5.0% vs -3.5%），过去两年高通的营收复合增速更高（6.2% vs 4.3%）
辉瑞是总部位于美国纽约曼哈顿The Spiral的跨国制药及生物技术企业，由德国企业家查尔斯·辉瑞与查尔斯·F·埃尔哈特于1849年在纽约创立，是北美地区历史最悠久的制药企业之一，在全球医药健康领域拥有较高的行业影响力。
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。
PFE vs QCOM — 直观对比
营收规模更大
PFE
是对方的1.4倍
$10.6B
营收增速更快
PFE
高出8.5%
-3.5%
净利率更高
QCOM
高出50.9%
18.6%
两年增速更快
QCOM
近两年复合增速
4.3%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $14.5B | $10.6B |
| 净利润 | $2.7B | $7.4B |
| 毛利率 | — | 53.8% |
| 营业利润率 | — | 21.8% |
| 净利率 | 18.6% | 69.5% |
| 营收同比 | 5.0% | -3.5% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.47 | $6.88 |
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PFEQCOM
| Q1 26 | $14.5B | $10.6B | ||
| Q4 25 | $17.6B | $12.3B | ||
| Q3 25 | $16.7B | $11.3B | ||
| Q2 25 | $14.7B | $10.4B | ||
| Q1 25 | $13.7B | $11.0B | ||
| Q4 24 | $17.8B | $11.7B | ||
| Q3 24 | $17.7B | $10.2B | ||
| Q2 24 | $13.3B | $9.4B |
净利润PFEQCOM
| Q1 26 | $2.7B | $7.4B | ||
| Q4 25 | $-1.6B | $3.0B | ||
| Q3 25 | $3.5B | $-3.1B | ||
| Q2 25 | $2.9B | $2.7B | ||
| Q1 25 | $3.0B | $2.8B | ||
| Q4 24 | $410.0M | $3.2B | ||
| Q3 24 | $4.5B | $2.9B | ||
| Q2 24 | $41.0M | $2.1B |
毛利率PFEQCOM
| Q1 26 | — | 53.8% | ||
| Q4 25 | 70.0% | 54.6% | ||
| Q3 25 | 74.9% | 55.3% | ||
| Q2 25 | 74.2% | 55.6% | ||
| Q1 25 | 79.3% | 55.0% | ||
| Q4 24 | 66.7% | 55.8% | ||
| Q3 24 | 70.3% | 56.4% | ||
| Q2 24 | 75.2% | 55.6% |
营业利润率PFEQCOM
| Q1 26 | — | 21.8% | ||
| Q4 25 | -9.4% | 27.5% | ||
| Q3 25 | 20.0% | 25.9% | ||
| Q2 25 | 20.8% | 26.6% | ||
| Q1 25 | 20.3% | 28.4% | ||
| Q4 24 | -0.1% | 30.5% | ||
| Q3 24 | 26.6% | 25.2% | ||
| Q2 24 | -0.8% | 23.6% |
净利率PFEQCOM
| Q1 26 | 18.6% | 69.5% | ||
| Q4 25 | -9.4% | 24.5% | ||
| Q3 25 | 21.3% | -27.7% | ||
| Q2 25 | 19.9% | 25.7% | ||
| Q1 25 | 21.6% | 25.6% | ||
| Q4 24 | 2.3% | 27.3% | ||
| Q3 24 | 25.2% | 28.5% | ||
| Q2 24 | 0.3% | 22.7% |
每股收益（稀释后）PFEQCOM
| Q1 26 | $0.47 | $6.88 | ||
| Q4 25 | $-0.29 | $2.78 | ||
| Q3 25 | $0.62 | $-2.77 | ||
| Q2 25 | $0.51 | $2.43 | ||
| Q1 25 | $0.52 | $2.52 | ||
| Q4 24 | $0.07 | $2.83 | ||
| Q3 24 | $0.78 | $2.57 | ||
| Q2 24 | $0.01 | $1.88 |
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 | — | $5.4B |
| 总债务越低越好 | — | $15.3B |
| 股东权益账面价值 | — | $27.3B |
| 总资产 | — | $57.1B |
| 负债/权益比越低杠杆越低 | — | 0.56× |
8季度趋势，按日历期对齐
现金及短期投资PFEQCOM
| Q1 26 | — | $5.4B | ||
| Q4 25 | $1.1B | $11.8B | ||
| Q3 25 | $1.3B | $10.2B | ||
| Q2 25 | $1.6B | $10.0B | ||
| Q1 25 | $1.4B | $13.8B | ||
| Q4 24 | $1.0B | $14.3B | ||
| Q3 24 | $1.1B | $13.3B | ||
| Q2 24 | $1.1B | $13.0B |
总债务PFEQCOM
| Q1 26 | — | $15.3B | ||
| 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 |
股东权益PFEQCOM
| Q1 26 | — | $27.3B | ||
| Q4 25 | $86.5B | $23.1B | ||
| Q3 25 | $92.8B | $21.2B | ||
| Q2 25 | $88.7B | $27.2B | ||
| Q1 25 | $90.3B | $27.7B | ||
| Q4 24 | $88.2B | $26.9B | ||
| Q3 24 | $92.3B | $26.3B | ||
| Q2 24 | $87.7B | $24.7B |
总资产PFEQCOM
| Q1 26 | — | $57.1B | ||
| Q4 25 | $208.2B | $53.0B | ||
| Q3 25 | $208.7B | $50.1B | ||
| Q2 25 | $206.1B | $54.9B | ||
| Q1 25 | $208.0B | $55.4B | ||
| Q4 24 | $213.4B | $55.6B | ||
| Q3 24 | $219.5B | $55.2B | ||
| Q2 24 | $216.2B | $52.7B |
负债/权益比PFEQCOM
| Q1 26 | — | 0.56× | ||
| 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× |
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 | — | $7.4B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | 10.2% |
| 现金转化率经营现金流/净利润 | — | 1.01× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流PFEQCOM
| Q1 26 | — | $7.4B | ||
| Q4 25 | $5.3B | $5.0B | ||
| Q3 25 | $4.6B | $4.0B | ||
| Q2 25 | $-582.0M | $2.9B | ||
| Q1 25 | $2.3B | $2.6B | ||
| Q4 24 | $6.7B | $4.6B | ||
| Q3 24 | $6.7B | $2.6B | ||
| Q2 24 | $-1.8B | $3.1B |
自由现金流PFEQCOM
| Q1 26 | — | — | ||
| Q4 25 | $4.5B | $4.4B | ||
| Q3 25 | $4.0B | $3.6B | ||
| Q2 25 | $-1.2B | $2.6B | ||
| Q1 25 | $1.8B | $2.3B | ||
| Q4 24 | $5.8B | $4.3B | ||
| Q3 24 | $6.1B | $2.4B | ||
| Q2 24 | $-2.4B | $2.7B |
自由现金流率PFEQCOM
| Q1 26 | — | — | ||
| Q4 25 | 25.6% | 36.0% | ||
| Q3 25 | 24.0% | 31.8% | ||
| Q2 25 | -8.2% | 24.9% | ||
| Q1 25 | 12.9% | 21.3% | ||
| Q4 24 | 32.7% | 36.9% | ||
| Q3 24 | 34.3% | 23.3% | ||
| Q2 24 | -18.2% | 28.4% |
资本支出强度PFEQCOM
| Q1 26 | — | 10.2% | ||
| Q4 25 | 4.8% | 4.5% | ||
| Q3 25 | 3.6% | 3.6% | ||
| Q2 25 | 4.2% | 2.8% | ||
| Q1 25 | 4.1% | 1.9% | ||
| Q4 24 | 5.2% | 2.4% | ||
| Q3 24 | 3.7% | 2.5% | ||
| Q2 24 | 4.8% | 4.1% |
现金转化率PFEQCOM
| Q1 26 | — | 1.01× | ||
| Q4 25 | — | 1.65× | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | -0.20× | 1.08× | ||
| Q1 25 | 0.79× | 0.91× | ||
| Q4 24 | 16.39× | 1.44× | ||
| Q3 24 | 1.50× | 0.91× | ||
| Q2 24 | -43.44× | 1.43× |
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
PFE
| Product revenues | $11.7B | 81% |
| Alliance revenues | $2.3B | 16% |
| Royalty revenues | $396.0M | 3% |
QCOM
| Equipment and services | $9.1B | 85% |
| Licensing | $1.5B | 15% |
