vs
高通（QCOM）与冬海集团（SE）财务数据对比。点击上方公司名可切换其他公司
冬海集团的季度营收约是高通的1.9倍（$22.9B vs $12.3B），高通净利率更高（24.5% vs 7.0%，领先17.5%），冬海集团同比增速更快（363.4% vs 5.0%），过去两年冬海集团的营收复合增速更高（147.8% vs 14.2%）
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。
冬海集团（Sea Ltd）是总部位于新加坡的科技综合集团，于纽约证券交易所上市，2024年营收达168亿美元。旗下拥有游戏品牌Garena、数字金融服务品牌Monee，以及东南亚规模最大的电商平台Shopee，业务覆盖数字娱乐、金融科技、电子商务三大核心领域。
QCOM vs SE — 直观对比
营收规模更大
SE
是对方的1.9倍
$12.3B
营收增速更快
SE
高出358.4%
5.0%
净利率更高
QCOM
高出17.5%
7.0%
两年增速更快
SE
近两年复合增速
14.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $12.3B | $22.9B |
| 净利润 | $3.0B | $1.6B |
| 毛利率 | 54.6% | 44.7% |
| 营业利润率 | 27.5% | 8.7% |
| 净利率 | 24.5% | 7.0% |
| 营收同比 | 5.0% | 363.4% |
| 净利润同比 | -5.5% | — |
| 每股收益（稀释后） | $2.78 | $2.52 |
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QCOMSE
| Q4 25 | $12.3B | $22.9B | ||
| Q3 25 | $11.3B | $6.0B | ||
| Q2 25 | $10.4B | $5.3B | ||
| Q1 25 | $11.0B | $4.8B | ||
| Q4 24 | $11.7B | $5.0B | ||
| Q3 24 | $10.2B | $4.3B | ||
| Q2 24 | $9.4B | $3.8B | ||
| Q1 24 | $9.4B | $3.7B |
净利润QCOMSE
| Q4 25 | $3.0B | $1.6B | ||
| Q3 25 | $-3.1B | $375.0M | ||
| Q2 25 | $2.7B | $414.2M | ||
| Q1 25 | $2.8B | $-7.8M | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $2.1B | — | ||
| Q1 24 | $2.3B | $-23.0M |
毛利率QCOMSE
| Q4 25 | 54.6% | 44.7% | ||
| Q3 25 | 55.3% | 43.4% | ||
| Q2 25 | 55.6% | 45.8% | ||
| Q1 25 | 55.0% | 46.2% | ||
| Q4 24 | 55.8% | — | ||
| Q3 24 | 56.4% | — | ||
| Q2 24 | 55.6% | — | ||
| Q1 24 | 56.3% | 41.6% |
营业利润率QCOMSE
| Q4 25 | 27.5% | 8.7% | ||
| Q3 25 | 25.9% | 8.0% | ||
| Q2 25 | 26.6% | 9.3% | ||
| Q1 25 | 28.4% | 9.4% | ||
| Q4 24 | 30.5% | — | ||
| Q3 24 | 25.2% | — | ||
| Q2 24 | 23.6% | — | ||
| Q1 24 | 24.9% | 1.9% |
净利率QCOMSE
| Q4 25 | 24.5% | 7.0% | ||
| Q3 25 | -27.7% | 6.3% | ||
| Q2 25 | 25.7% | 7.9% | ||
| Q1 25 | 25.6% | -0.2% | ||
| Q4 24 | 27.3% | — | ||
| Q3 24 | 28.5% | — | ||
| Q2 24 | 22.7% | — | ||
| Q1 24 | 24.8% | -0.6% |
每股收益（稀释后）QCOMSE
| Q4 25 | $2.78 | $2.52 | ||
| Q3 25 | $-2.77 | $0.59 | ||
| Q2 25 | $2.43 | $0.65 | ||
| Q1 25 | $2.52 | $0.65 | ||
| Q4 24 | $2.83 | — | ||
| Q3 24 | $2.57 | — | ||
| Q2 24 | $1.88 | — | ||
| Q1 24 | $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 | $10.6B |
| 总债务越低越好 | $14.8B | — |
| 股东权益账面价值 | $23.1B | $12.6B |
| 总资产 | $53.0B | $29.4B |
| 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QCOMSE
| Q4 25 | $11.8B | $10.6B | ||
| Q3 25 | $10.2B | — | ||
| Q2 25 | $10.0B | — | ||
| Q1 25 | $13.8B | — | ||
| Q4 24 | $14.3B | $8.6B | ||
| Q3 24 | $13.3B | — | ||
| Q2 24 | $13.0B | — | ||
| Q1 24 | $13.9B | — |
总债务QCOMSE
| 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QCOMSE
| Q4 25 | $23.1B | $12.6B | ||
| Q3 25 | $21.2B | — | ||
| Q2 25 | $27.2B | — | ||
| Q1 25 | $27.7B | — | ||
| Q4 24 | $26.9B | $8.4B | ||
| Q3 24 | $26.3B | — | ||
| Q2 24 | $24.7B | — | ||
| Q1 24 | $24.5B | — |
总资产QCOMSE
| Q4 25 | $53.0B | $29.4B | ||
| Q3 25 | $50.1B | — | ||
| Q2 25 | $54.9B | — | ||
| Q1 25 | $55.4B | — | ||
| Q4 24 | $55.6B | $22.6B | ||
| Q3 24 | $55.2B | — | ||
| Q2 24 | $52.7B | — | ||
| Q1 24 | $53.2B | — |
负债/权益比QCOMSE
| 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 | $5.0B | $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× | 3.12× |
| 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QCOMSE
| Q4 25 | $5.0B | $5.0B | ||
| Q3 25 | $4.0B | $3.5B | ||
| Q2 25 | $2.9B | $2.4B | ||
| Q1 25 | $2.6B | $756.9M | ||
| Q4 24 | $4.6B | — | ||
| Q3 24 | $2.6B | — | ||
| Q2 24 | $3.1B | — | ||
| Q1 24 | $3.6B | $468.5M |
自由现金流QCOMSE
| Q4 25 | $4.4B | — | ||
| Q3 25 | $3.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $2.4B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $3.4B | — |
自由现金流率QCOMSE
| Q4 25 | 36.0% | — | ||
| Q3 25 | 31.8% | — | ||
| Q2 25 | 24.9% | — | ||
| Q1 25 | 21.3% | — | ||
| Q4 24 | 36.9% | — | ||
| Q3 24 | 23.3% | — | ||
| Q2 24 | 28.4% | — | ||
| Q1 24 | 35.9% | — |
资本支出强度QCOMSE
| Q4 25 | 4.5% | — | ||
| Q3 25 | 3.6% | — | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 2.4% | — | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | 4.1% | — | ||
| Q1 24 | 2.0% | — |
现金转化率QCOMSE
| Q4 25 | 1.65× | 3.12× | ||
| Q3 25 | — | 9.46× | ||
| Q2 25 | 1.08× | 5.73× | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | 1.44× | — | ||
| Q3 24 | 0.91× | — | ||
| Q2 24 | 1.43× | — | ||
| Q1 24 | 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
QCOM
| Handsets | $7.8B | 64% |
| Io T | $1.7B | 14% |
| Qtl | $1.6B | 13% |
| Automotive | $1.1B | 9% |
SE
暂无分部数据
