vs
Progressive Corporation（PGR）与台积电（TSM）财务数据对比。点击上方公司名可切换其他公司
台积电的季度营收约是Progressive Corporation的1.6倍（$35.5B vs $22.7B），台积电净利率更高（50.5% vs 13.0%，领先37.5%）
美国Progressive Corporation是1937年由杰克·格林与约瑟夫·M·刘易斯联合创立的保险公司，总部位于俄亥俄州梅菲尔德，是美国第二大汽车保险服务商，仅次于州立农业保险。其业务覆盖乘用车、摩托车、房车、船只、商用车等险种，同时通过合作机构提供家财险、寿险、宠物险等多元保险产品。
台积电是全球规模最大的专业独立半导体晶圆代工厂，总部位于中国台湾新竹，主要为无晶圆厂客户代工生产先进逻辑芯片，服务客户包括苹果、英伟达、AMD、高通和博通等，在3纳米、5纳米、7纳米等先进制程节点领域处于行业领先地位。
PGR vs TSM — 直观对比
营收规模更大
TSM
是对方的1.6倍
$22.7B
净利率更高
TSM
高出37.5%
13.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $22.7B | $35.5B |
| 净利润 | $3.0B | $17.9B |
| 毛利率 | — | 66.2% |
| 营业利润率 | 16.2% | 58.0% |
| 净利率 | 13.0% | 50.5% |
| 营收同比 | 12.2% | — |
| 净利润同比 | 25.3% | — |
| 每股收益（稀释后） | $5.01 | $111.55 |
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PGRTSM
| Q1 26 | — | $35.5B | ||
| Q4 25 | $22.7B | $32.7B | ||
| Q3 25 | $22.5B | $30.7B | ||
| Q2 25 | $22.0B | $28.9B | ||
| Q1 25 | $20.4B | $26.0B | ||
| Q4 24 | $20.3B | $88.3B | ||
| Q3 24 | $19.7B | — | ||
| Q2 24 | $18.1B | — |
净利润PGRTSM
| Q1 26 | — | $17.9B | ||
| Q4 25 | $3.0B | $15.8B | ||
| Q3 25 | $2.6B | $14.0B | ||
| Q2 25 | $3.2B | $12.3B | ||
| Q1 25 | $2.6B | $11.2B | ||
| Q4 24 | $2.4B | $35.3B | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $1.5B | — |
毛利率PGRTSM
| Q1 26 | — | 66.2% | ||
| Q4 25 | — | 62.3% | ||
| Q3 25 | — | 59.5% | ||
| Q2 25 | — | 58.6% | ||
| Q1 25 | — | 58.8% | ||
| Q4 24 | — | 56.1% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率PGRTSM
| Q1 26 | — | 58.0% | ||
| Q4 25 | 16.2% | 53.9% | ||
| Q3 25 | 14.8% | 50.6% | ||
| Q2 25 | 18.1% | 49.6% | ||
| Q1 25 | 15.9% | 48.5% | ||
| Q4 24 | 14.6% | 45.7% | ||
| Q3 24 | 14.9% | — | ||
| Q2 24 | 10.3% | — |
净利率PGRTSM
| Q1 26 | — | 50.5% | ||
| Q4 25 | 13.0% | 48.3% | ||
| Q3 25 | 11.6% | 45.7% | ||
| Q2 25 | 14.4% | 42.7% | ||
| Q1 25 | 12.6% | 43.1% | ||
| Q4 24 | 11.6% | 40.0% | ||
| Q3 24 | 11.8% | — | ||
| Q2 24 | 8.0% | — |
每股收益（稀释后）PGRTSM
| Q1 26 | — | $111.55 | ||
| Q4 25 | $5.01 | $98.45 | ||
| Q3 25 | $4.45 | $87.20 | ||
| Q2 25 | $5.40 | $76.80 | ||
| Q1 25 | $4.37 | $69.70 | ||
| Q4 24 | $4.01 | $1.36 | ||
| Q3 24 | $3.97 | — | ||
| Q2 24 | $2.48 | — |
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 | $10.0B | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $30.3B | — |
| 总资产 | $123.0B | — |
| 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PGRTSM
| Q1 26 | — | — | ||
| Q4 25 | $10.0B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $615.0M | $64.9B | ||
| Q3 24 | $757.0M | — | ||
| Q2 24 | $733.0M | — |
股东权益PGRTSM
| Q1 26 | — | — | ||
| Q4 25 | $30.3B | — | ||
| Q3 25 | $35.4B | — | ||
| Q2 25 | $32.6B | — | ||
| Q1 25 | $29.0B | — | ||
| Q4 24 | $25.6B | $130.5B | ||
| Q3 24 | $27.2B | — | ||
| Q2 24 | $23.3B | — |
总资产PGRTSM
| Q1 26 | — | — | ||
| Q4 25 | $123.0B | — | ||
| Q3 25 | $121.5B | — | ||
| Q2 25 | $115.5B | — | ||
| Q1 25 | $111.4B | — | ||
| Q4 24 | $105.7B | $204.1B | ||
| Q3 24 | $105.2B | — | ||
| Q2 24 | $97.9B | — |
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 | $3.2B | — |
| 自由现金流经营现金流 - 资本支出 | $3.0B | — |
| 自由现金流率自由现金流/营收 | 13.4% | — |
| 资本支出强度资本支出/营收 | 0.5% | — |
| 现金转化率经营现金流/净利润 | 1.07× | — |
| 过去12个月自由现金流最近4个季度 | $17.2B | — |
8季度趋势，按日历期对齐
经营现金流PGRTSM
| Q1 26 | — | — | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $5.2B | — | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $5.1B | — | ||
| Q4 24 | $3.0B | $55.7B | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $3.3B | — |
自由现金流PGRTSM
| Q1 26 | — | — | ||
| Q4 25 | $3.0B | — | ||
| Q3 25 | $5.1B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $5.1B | — | ||
| Q4 24 | $2.9B | $26.5B | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $3.2B | — |
自由现金流率PGRTSM
| Q1 26 | — | — | ||
| Q4 25 | 13.4% | — | ||
| Q3 25 | 22.8% | — | ||
| Q2 25 | 17.9% | — | ||
| Q1 25 | 24.9% | — | ||
| Q4 24 | 14.3% | 30.1% | ||
| Q3 24 | 23.1% | — | ||
| Q2 24 | 17.6% | — |
资本支出强度PGRTSM
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.5% | 33.0% | ||
| Q3 24 | 0.3% | — | ||
| Q2 24 | 0.4% | — |
现金转化率PGRTSM
| Q1 26 | — | — | ||
| Q4 25 | 1.07× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.27× | — | ||
| Q1 25 | 2.00× | — | ||
| Q4 24 | 1.28× | 1.58× | ||
| Q3 24 | 1.97× | — | ||
| Q2 24 | 2.24× | — |
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
PGR
| Other | $11.9B | 52% |
| Commercial Lines Segment | $10.9B | 48% |
| Other Indemnity | $2.0M | 0% |
TSM
暂无分部数据
