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菲利普莫里斯国际（PM）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菲利普莫里斯国际的1.2倍（$12.3B vs $10.1B），高通净利率更高（24.5% vs 24.0%，领先0.5%），菲利普莫里斯国际同比增速更快（9.1% vs 5.0%），过去两年高通的营收复合增速更高（14.2% vs 3.5%）
菲利普莫里斯国际是全球头部烟草企业，产品销往180余个国家和地区，旗下万宝路是全球最知名的烟草品牌，2023年第四季度加热不燃烧产品IQOS贡献了最高营收，位列2025年财富美国500强第121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。
PM vs QCOM — 直观对比
营收规模更大
QCOM
是对方的1.2倍
$10.1B
营收增速更快
PM
高出4.1%
5.0%
净利率更高
QCOM
高出0.5%
24.0%
两年增速更快
QCOM
近两年复合增速
3.5%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $10.1B | $12.3B |
| 净利润 | $2.4B | $3.0B |
| 毛利率 | 68.1% | 54.6% |
| 营业利润率 | 38.4% | 27.5% |
| 净利率 | 24.0% | 24.5% |
| 营收同比 | 9.1% | 5.0% |
| 净利润同比 | -9.4% | -5.5% |
| 每股收益（稀释后） | $1.56 | $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PMQCOM
| Q1 26 | $10.1B | — | ||
| Q4 25 | $10.4B | $12.3B | ||
| Q3 25 | $10.8B | $11.3B | ||
| Q2 25 | $10.1B | $10.4B | ||
| Q1 25 | $9.3B | $11.0B | ||
| Q4 24 | $9.7B | $11.7B | ||
| Q3 24 | $9.9B | $10.2B | ||
| Q2 24 | $9.5B | $9.4B |
净利润PMQCOM
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.1B | $3.0B | ||
| Q3 25 | $3.5B | $-3.1B | ||
| Q2 25 | $3.0B | $2.7B | ||
| Q1 25 | $2.7B | $2.8B | ||
| Q4 24 | $-579.0M | $3.2B | ||
| Q3 24 | $3.1B | $2.9B | ||
| Q2 24 | $2.4B | $2.1B |
毛利率PMQCOM
| Q1 26 | 68.1% | — | ||
| Q4 25 | 65.6% | 54.6% | ||
| Q3 25 | 67.8% | 55.3% | ||
| Q2 25 | 67.7% | 55.6% | ||
| Q1 25 | 67.3% | 55.0% | ||
| Q4 24 | 64.7% | 55.8% | ||
| Q3 24 | 66.0% | 56.4% | ||
| Q2 24 | 64.7% | 55.6% |
营业利润率PMQCOM
| Q1 26 | 38.4% | — | ||
| Q4 25 | 32.6% | 27.5% | ||
| Q3 25 | 39.3% | 25.9% | ||
| Q2 25 | 36.6% | 26.6% | ||
| Q1 25 | 38.1% | 28.4% | ||
| Q4 24 | 33.6% | 30.5% | ||
| Q3 24 | 36.9% | 25.2% | ||
| Q2 24 | 36.4% | 23.6% |
净利率PMQCOM
| Q1 26 | 24.0% | — | ||
| Q4 25 | 20.7% | 24.5% | ||
| Q3 25 | 32.1% | -27.7% | ||
| Q2 25 | 30.0% | 25.7% | ||
| Q1 25 | 28.9% | 25.6% | ||
| Q4 24 | -6.0% | 27.3% | ||
| Q3 24 | 31.1% | 28.5% | ||
| Q2 24 | 25.4% | 22.7% |
每股收益（稀释后）PMQCOM
| Q1 26 | $1.56 | — | ||
| Q4 25 | $1.36 | $2.78 | ||
| Q3 25 | $2.23 | $-2.77 | ||
| Q2 25 | $1.95 | $2.43 | ||
| Q1 25 | $1.72 | $2.52 | ||
| Q4 24 | $-0.37 | $2.83 | ||
| Q3 24 | $1.97 | $2.57 | ||
| Q2 24 | $1.54 | $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 | $5.5B | $11.8B |
| 总债务越低越好 | $49.5B | $14.8B |
| 股东权益账面价值 | — | $23.1B |
| 总资产 | $68.9B | $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PMQCOM
| Q1 26 | $5.5B | — | ||
| Q4 25 | $4.9B | $11.8B | ||
| Q3 25 | $4.0B | $10.2B | ||
| Q2 25 | $4.1B | $10.0B | ||
| Q1 25 | $4.4B | $13.8B | ||
| Q4 24 | $4.2B | $14.3B | ||
| Q3 24 | $4.3B | $13.3B | ||
| Q2 24 | $4.8B | $13.0B |
总债务PMQCOM
| Q1 26 | $49.5B | — | ||
| Q4 25 | $45.1B | $14.8B | ||
| Q3 25 | $41.9B | $14.8B | ||
| Q2 25 | $42.4B | $14.8B | ||
| Q1 25 | $38.8B | $13.3B | ||
| Q4 24 | $42.2B | $13.2B | ||
| Q3 24 | $44.2B | $13.3B | ||
| Q2 24 | $44.6B | $13.2B |
股东权益PMQCOM
| Q1 26 | — | — | ||
| Q4 25 | $-10.0B | $23.1B | ||
| Q3 25 | $-10.9B | $21.2B | ||
| Q2 25 | $-12.0B | $27.2B | ||
| Q1 25 | $-10.9B | $27.7B | ||
| Q4 24 | $-11.8B | $26.9B | ||
| Q3 24 | $-9.7B | $26.3B | ||
| Q2 24 | $-9.7B | $24.7B |
总资产PMQCOM
| Q1 26 | $68.9B | — | ||
| Q4 25 | $69.2B | $53.0B | ||
| Q3 25 | $67.1B | $50.1B | ||
| Q2 25 | $68.5B | $54.9B | ||
| Q1 25 | $65.1B | $55.4B | ||
| Q4 24 | $61.8B | $55.6B | ||
| Q3 24 | $66.9B | $55.2B | ||
| Q2 24 | $65.8B | $52.7B |
负债/权益比PMQCOM
| Q1 26 | — | — | ||
| 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 | — | $5.0B |
| 自由现金流经营现金流 - 资本支出 | — | $4.4B |
| 自由现金流率自由现金流/营收 | — | 36.0% |
| 资本支出强度资本支出/营收 | — | 4.5% |
| 现金转化率经营现金流/净利润 | — | 1.65× |
| 过去12个月自由现金流最近4个季度 | — | $12.9B |
8季度趋势，按日历期对齐
经营现金流PMQCOM
| Q1 26 | — | — | ||
| Q4 25 | $4.7B | $5.0B | ||
| Q3 25 | $4.5B | $4.0B | ||
| Q2 25 | $3.4B | $2.9B | ||
| Q1 25 | $-350.0M | $2.6B | ||
| Q4 24 | $4.0B | $4.6B | ||
| Q3 24 | $3.3B | $2.6B | ||
| Q2 24 | $4.6B | $3.1B |
自由现金流PMQCOM
| Q1 26 | — | — | ||
| Q4 25 | $4.3B | $4.4B | ||
| Q3 25 | $4.1B | $3.6B | ||
| Q2 25 | $3.1B | $2.6B | ||
| Q1 25 | $-754.0M | $2.3B | ||
| Q4 24 | $3.7B | $4.3B | ||
| Q3 24 | $3.0B | $2.4B | ||
| Q2 24 | $4.3B | $2.7B |
自由现金流率PMQCOM
| Q1 26 | — | — | ||
| Q4 25 | 41.2% | 36.0% | ||
| Q3 25 | 37.8% | 31.8% | ||
| Q2 25 | 30.1% | 24.9% | ||
| Q1 25 | -8.1% | 21.3% | ||
| Q4 24 | 38.4% | 36.9% | ||
| Q3 24 | 29.9% | 23.3% | ||
| Q2 24 | 45.0% | 28.4% |
资本支出强度PMQCOM
| Q1 26 | — | — | ||
| Q4 25 | 4.3% | 4.5% | ||
| Q3 25 | 3.4% | 3.6% | ||
| Q2 25 | 3.5% | 2.8% | ||
| Q1 25 | 4.3% | 1.9% | ||
| Q4 24 | 2.9% | 2.4% | ||
| Q3 24 | 3.8% | 2.5% | ||
| Q2 24 | 3.9% | 4.1% |
现金转化率PMQCOM
| Q1 26 | — | — | ||
| Q4 25 | 2.20× | 1.65× | ||
| Q3 25 | 1.28× | — | ||
| Q2 25 | 1.12× | 1.08× | ||
| Q1 25 | -0.13× | 0.91× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | 1.08× | 0.91× | ||
| Q2 24 | 1.93× | 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
PM
暂无分部数据
QCOM
| Handsets | $7.8B | 64% |
| Io T | $1.7B | 14% |
| Qtl | $1.6B | 13% |
| Automotive | $1.1B | 9% |
