vs
高通（QCOM）与思佳讯（SWKS）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思佳讯的11.8倍（$12.3B vs $1.0B），高通净利率更高（24.5% vs 7.6%，领先16.9%），思佳讯同比增速更快（8.6% vs 5.0%），高通自由现金流更多（$4.4B vs $339.0M），过去两年高通的营收复合增速更高（14.2% vs -0.5%）
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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
QCOM vs SWKS — 直观对比
营收规模更大
QCOM
是对方的11.8倍
$1.0B
营收增速更快
SWKS
高出3.6%
5.0%
净利率更高
QCOM
高出16.9%
7.6%
自由现金流更多
QCOM
多$4.1B
$339.0M
两年增速更快
QCOM
近两年复合增速
-0.5%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $12.3B | $1.0B |
| 净利润 | $3.0B | $79.2M |
| 毛利率 | 54.6% | 41.3% |
| 营业利润率 | 27.5% | 10.0% |
| 净利率 | 24.5% | 7.6% |
| 营收同比 | 5.0% | 8.6% |
| 净利润同比 | -5.5% | 15.3% |
| 每股收益（稀释后） | $2.78 | $0.53 |
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QCOMSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $12.3B | $1.1B | ||
| Q3 25 | $11.3B | — | ||
| Q2 25 | $10.4B | $965.0M | ||
| Q1 25 | $11.0B | $953.2M | ||
| Q4 24 | $11.7B | $1.1B | ||
| Q3 24 | $10.2B | $1.0B | ||
| Q2 24 | $9.4B | $905.5M |
净利润QCOMSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $3.0B | $141.4M | ||
| Q3 25 | $-3.1B | — | ||
| Q2 25 | $2.7B | $105.0M | ||
| Q1 25 | $2.8B | $68.7M | ||
| Q4 24 | $3.2B | $162.0M | ||
| Q3 24 | $2.9B | $60.5M | ||
| Q2 24 | $2.1B | $120.9M |
毛利率QCOMSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | 54.6% | 40.7% | ||
| Q3 25 | 55.3% | — | ||
| Q2 25 | 55.6% | 41.6% | ||
| Q1 25 | 55.0% | 41.1% | ||
| Q4 24 | 55.8% | 41.4% | ||
| Q3 24 | 56.4% | 41.9% | ||
| Q2 24 | 55.6% | 40.2% |
营业利润率QCOMSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | 27.5% | 10.1% | ||
| Q3 25 | 25.9% | — | ||
| Q2 25 | 26.6% | 11.5% | ||
| Q1 25 | 28.4% | 10.2% | ||
| Q4 24 | 30.5% | 16.9% | ||
| Q3 24 | 25.2% | 5.8% | ||
| Q2 24 | 23.6% | 14.4% |
净利率QCOMSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | 24.5% | 12.9% | ||
| Q3 25 | -27.7% | — | ||
| Q2 25 | 25.7% | 10.9% | ||
| Q1 25 | 25.6% | 7.2% | ||
| Q4 24 | 27.3% | 15.2% | ||
| Q3 24 | 28.5% | 5.9% | ||
| Q2 24 | 22.7% | 13.4% |
每股收益（稀释后）QCOMSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $2.78 | $0.95 | ||
| Q3 25 | $-2.77 | — | ||
| Q2 25 | $2.43 | $0.70 | ||
| Q1 25 | $2.52 | $0.43 | ||
| Q4 24 | $2.83 | $1.00 | ||
| Q3 24 | $2.57 | $0.36 | ||
| Q2 24 | $1.88 | $0.75 |
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 | $1.6B |
| 总债务越低越好 | $14.8B | $496.6M |
| 股东权益账面价值 | $23.1B | $5.8B |
| 总资产 | $53.0B | $7.9B |
| 负债/权益比越低杠杆越低 | 0.64× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资QCOMSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $11.8B | $1.4B | ||
| Q3 25 | $10.2B | — | ||
| Q2 25 | $10.0B | $1.3B | ||
| Q1 25 | $13.8B | $1.5B | ||
| Q4 24 | $14.3B | $1.7B | ||
| Q3 24 | $13.3B | $1.6B | ||
| Q2 24 | $13.0B | $1.3B |
总债务QCOMSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | $14.8B | $496.4M | ||
| Q3 25 | $14.8B | — | ||
| Q2 25 | $14.8B | $496.2M | ||
| Q1 25 | $13.3B | $995.1M | ||
| Q4 24 | $13.2B | $994.7M | ||
| Q3 24 | $13.3B | $994.3M | ||
| Q2 24 | $13.2B | $994.0M |
股东权益QCOMSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $23.1B | $5.8B | ||
| Q3 25 | $21.2B | — | ||
| Q2 25 | $27.2B | $5.7B | ||
| Q1 25 | $27.7B | $5.9B | ||
| Q4 24 | $26.9B | $6.4B | ||
| Q3 24 | $26.3B | $6.3B | ||
| Q2 24 | $24.7B | $6.3B |
总资产QCOMSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $53.0B | $7.9B | ||
| Q3 25 | $50.1B | — | ||
| Q2 25 | $54.9B | $7.7B | ||
| Q1 25 | $55.4B | $7.9B | ||
| Q4 24 | $55.6B | $8.3B | ||
| Q3 24 | $55.2B | $8.3B | ||
| Q2 24 | $52.7B | $8.2B |
负债/权益比QCOMSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | 0.64× | 0.09× | ||
| Q3 25 | 0.70× | — | ||
| Q2 25 | 0.54× | 0.09× | ||
| Q1 25 | 0.48× | 0.17× | ||
| Q4 24 | 0.49× | 0.16× | ||
| Q3 24 | 0.51× | 0.16× | ||
| Q2 24 | 0.53× | 0.16× |
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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $4.4B | $339.0M |
| 自由现金流率自由现金流/营收 | 36.0% | 32.7% |
| 资本支出强度资本支出/营收 | 4.5% | 5.5% |
| 现金转化率经营现金流/净利润 | 1.65× | 4.99× |
| 过去12个月自由现金流最近4个季度 | $12.9B | $1.1B |
8季度趋势，按日历期对齐
经营现金流QCOMSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $5.0B | $200.0M | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $2.9B | $314.2M | ||
| Q1 25 | $2.6B | $409.4M | ||
| Q4 24 | $4.6B | $377.2M | ||
| Q3 24 | $2.6B | $476.1M | ||
| Q2 24 | $3.1B | $273.4M |
自由现金流QCOMSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $4.4B | $144.0M | ||
| Q3 25 | $3.6B | — | ||
| Q2 25 | $2.6B | $252.7M | ||
| Q1 25 | $2.3B | $370.9M | ||
| Q4 24 | $4.3B | $338.2M | ||
| Q3 24 | $2.4B | $393.3M | ||
| Q2 24 | $2.7B | $249.0M |
自由现金流率QCOMSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 36.0% | 13.1% | ||
| Q3 25 | 31.8% | — | ||
| Q2 25 | 24.9% | 26.2% | ||
| Q1 25 | 21.3% | 38.9% | ||
| Q4 24 | 36.9% | 31.7% | ||
| Q3 24 | 23.3% | 38.4% | ||
| Q2 24 | 28.4% | 27.5% |
资本支出强度QCOMSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 4.5% | 5.1% | ||
| Q3 25 | 3.6% | — | ||
| Q2 25 | 2.8% | 6.4% | ||
| Q1 25 | 1.9% | 4.0% | ||
| Q4 24 | 2.4% | 3.6% | ||
| Q3 24 | 2.5% | 8.1% | ||
| Q2 24 | 4.1% | 2.7% |
现金转化率QCOMSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | 1.65× | 1.41× | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.08× | 2.99× | ||
| Q1 25 | 0.91× | 5.96× | ||
| Q4 24 | 1.44× | 2.33× | ||
| Q3 24 | 0.91× | 7.87× | ||
| Q2 24 | 1.43× | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
