vs
高通（QCOM）与泰森食品（TSN）财务数据对比。点击上方公司名可切换其他公司
泰森食品的季度营收约是高通的1.2倍（$14.3B vs $12.3B），高通净利率更高（24.5% vs 0.6%，领先23.9%），泰森食品同比增速更快（5.1% vs 5.0%），高通自由现金流更多（$4.4B vs $690.0M），过去两年高通的营收复合增速更高（14.2% vs 4.6%）
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。
泰森食品是总部位于美国阿肯色州斯普林代尔的跨国食品企业，是仅次于JBS的全球第二大鸡肉、牛肉、猪肉加工销售商，同时是美国规模最大的肉类企业，常年位居美国牛肉出口占比首位，旗下运营泰森、Jimmy Dean、Hillshire Farm等多个知名食品品牌。
QCOM vs TSN — 直观对比
营收规模更大
TSN
是对方的1.2倍
$12.3B
营收增速更快
TSN
高出0.1%
5.0%
净利率更高
QCOM
高出23.9%
0.6%
自由现金流更多
QCOM
多$3.7B
$690.0M
两年增速更快
QCOM
近两年复合增速
4.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $12.3B | $14.3B |
| 净利润 | $3.0B | $85.0M |
| 毛利率 | 54.6% | 5.6% |
| 营业利润率 | 27.5% | 2.1% |
| 净利率 | 24.5% | 0.6% |
| 营收同比 | 5.0% | 5.1% |
| 净利润同比 | -5.5% | -76.3% |
| 每股收益（稀释后） | $2.78 | $0.24 |
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QCOMTSN
| Q4 25 | $12.3B | $14.3B | ||
| Q3 25 | $11.3B | $13.9B | ||
| Q2 25 | $10.4B | $13.9B | ||
| Q1 25 | $11.0B | $13.1B | ||
| Q4 24 | $11.7B | $13.6B | ||
| Q3 24 | $10.2B | $13.6B | ||
| Q2 24 | $9.4B | $13.4B | ||
| Q1 24 | $9.4B | $13.1B |
净利润QCOMTSN
| Q4 25 | $3.0B | $85.0M | ||
| Q3 25 | $-3.1B | $47.0M | ||
| Q2 25 | $2.7B | $61.0M | ||
| Q1 25 | $2.8B | $7.0M | ||
| Q4 24 | $3.2B | $359.0M | ||
| Q3 24 | $2.9B | $357.0M | ||
| Q2 24 | $2.1B | $191.0M | ||
| Q1 24 | $2.3B | $145.0M |
毛利率QCOMTSN
| Q4 25 | 54.6% | 5.6% | ||
| Q3 25 | 55.3% | 5.2% | ||
| Q2 25 | 55.6% | 8.2% | ||
| Q1 25 | 55.0% | 4.6% | ||
| Q4 24 | 55.8% | 8.0% | ||
| Q3 24 | 56.4% | 7.8% | ||
| Q2 24 | 55.6% | 6.6% | ||
| Q1 24 | 56.3% | 6.6% |
营业利润率QCOMTSN
| Q4 25 | 27.5% | 2.1% | ||
| Q3 25 | 25.9% | 1.1% | ||
| Q2 25 | 26.6% | 1.9% | ||
| Q1 25 | 28.4% | 0.8% | ||
| Q4 24 | 30.5% | 4.3% | ||
| Q3 24 | 25.2% | 3.9% | ||
| Q2 24 | 23.6% | 2.6% | ||
| Q1 24 | 24.9% | 2.4% |
净利率QCOMTSN
| Q4 25 | 24.5% | 0.6% | ||
| Q3 25 | -27.7% | 0.3% | ||
| Q2 25 | 25.7% | 0.4% | ||
| Q1 25 | 25.6% | 0.1% | ||
| Q4 24 | 27.3% | 2.6% | ||
| Q3 24 | 28.5% | 2.6% | ||
| Q2 24 | 22.7% | 1.4% | ||
| Q1 24 | 24.8% | 1.1% |
每股收益（稀释后）QCOMTSN
| Q4 25 | $2.78 | $0.24 | ||
| Q3 25 | $-2.77 | $0.13 | ||
| Q2 25 | $2.43 | $0.17 | ||
| Q1 25 | $2.52 | $0.02 | ||
| Q4 24 | $2.83 | $1.01 | ||
| Q3 24 | $2.57 | $1.00 | ||
| Q2 24 | $1.88 | $0.54 | ||
| Q1 24 | $2.06 | $0.41 |
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 | $1.3B |
| 总债务越低越好 | $14.8B | $7.5B |
| 股东权益账面价值 | $23.1B | $18.0B |
| 总资产 | $53.0B | $36.0B |
| 负债/权益比越低杠杆越低 | 0.64× | 0.41× |
8季度趋势，按日历期对齐
现金及短期投资QCOMTSN
| Q4 25 | $11.8B | $1.3B | ||
| Q3 25 | $10.2B | $1.2B | ||
| Q2 25 | $10.0B | $1.5B | ||
| Q1 25 | $13.8B | $992.0M | ||
| Q4 24 | $14.3B | $2.3B | ||
| Q3 24 | $13.3B | $1.7B | ||
| Q2 24 | $13.0B | $2.6B | ||
| Q1 24 | $13.9B | $2.2B |
总债务QCOMTSN
| Q4 25 | $14.8B | $7.5B | ||
| Q3 25 | $14.8B | $7.9B | ||
| Q2 25 | $14.8B | $8.2B | ||
| Q1 25 | $13.3B | $8.2B | ||
| Q4 24 | $13.2B | $9.7B | ||
| Q3 24 | $13.3B | $9.7B | ||
| Q2 24 | $13.2B | $9.7B | ||
| Q1 24 | $14.5B | $9.6B |
股东权益QCOMTSN
| Q4 25 | $23.1B | $18.0B | ||
| Q3 25 | $21.2B | $18.1B | ||
| Q2 25 | $27.2B | $18.3B | ||
| Q1 25 | $27.7B | $18.4B | ||
| Q4 24 | $26.9B | $18.5B | ||
| Q3 24 | $26.3B | $18.4B | ||
| Q2 24 | $24.7B | $18.1B | ||
| Q1 24 | $24.5B | $18.1B |
总资产QCOMTSN
| Q4 25 | $53.0B | $36.0B | ||
| Q3 25 | $50.1B | $36.7B | ||
| Q2 25 | $54.9B | $36.5B | ||
| Q1 25 | $55.4B | $36.3B | ||
| Q4 24 | $55.6B | $37.3B | ||
| Q3 24 | $55.2B | $37.1B | ||
| Q2 24 | $52.7B | $37.7B | ||
| Q1 24 | $53.2B | $37.5B |
负债/权益比QCOMTSN
| Q4 25 | 0.64× | 0.41× | ||
| Q3 25 | 0.70× | 0.44× | ||
| Q2 25 | 0.54× | 0.45× | ||
| Q1 25 | 0.48× | 0.44× | ||
| Q4 24 | 0.49× | 0.52× | ||
| Q3 24 | 0.51× | 0.53× | ||
| Q2 24 | 0.53× | 0.54× | ||
| Q1 24 | 0.59× | 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 | $942.0M |
| 自由现金流经营现金流 - 资本支出 | $4.4B | $690.0M |
| 自由现金流率自由现金流/营收 | 36.0% | 4.8% |
| 资本支出强度资本支出/营收 | 4.5% | 1.8% |
| 现金转化率经营现金流/净利润 | 1.65× | 11.08× |
| 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QCOMTSN
| Q4 25 | $5.0B | $942.0M | ||
| Q3 25 | $4.0B | $535.0M | ||
| Q2 25 | $2.9B | $774.0M | ||
| Q1 25 | $2.6B | $-185.0M | ||
| Q4 24 | $4.6B | $1.0B | ||
| Q3 24 | $2.6B | $617.0M | ||
| Q2 24 | $3.1B | $796.0M | ||
| Q1 24 | $3.6B | $-123.0M |
自由现金流QCOMTSN
| Q4 25 | $4.4B | $690.0M | ||
| Q3 25 | $3.6B | $248.0M | ||
| Q2 25 | $2.6B | $547.0M | ||
| Q1 25 | $2.3B | $-378.0M | ||
| Q4 24 | $4.3B | $760.0M | ||
| Q3 24 | $2.4B | $369.0M | ||
| Q2 24 | $2.7B | $533.0M | ||
| Q1 24 | $3.4B | $-390.0M |
自由现金流率QCOMTSN
| Q4 25 | 36.0% | 4.8% | ||
| Q3 25 | 31.8% | 1.8% | ||
| Q2 25 | 24.9% | 3.9% | ||
| Q1 25 | 21.3% | -2.9% | ||
| Q4 24 | 36.9% | 5.6% | ||
| Q3 24 | 23.3% | 2.7% | ||
| Q2 24 | 28.4% | 4.0% | ||
| Q1 24 | 35.9% | -3.0% |
资本支出强度QCOMTSN
| Q4 25 | 4.5% | 1.8% | ||
| Q3 25 | 3.6% | 2.1% | ||
| Q2 25 | 2.8% | 1.6% | ||
| Q1 25 | 1.9% | 1.5% | ||
| Q4 24 | 2.4% | 2.0% | ||
| Q3 24 | 2.5% | 1.8% | ||
| Q2 24 | 4.1% | 2.0% | ||
| Q1 24 | 2.0% | 2.0% |
现金转化率QCOMTSN
| Q4 25 | 1.65× | 11.08× | ||
| Q3 25 | — | 11.38× | ||
| Q2 25 | 1.08× | 12.69× | ||
| Q1 25 | 0.91× | -26.43× | ||
| Q4 24 | 1.44× | 2.87× | ||
| Q3 24 | 0.91× | 1.73× | ||
| Q2 24 | 1.43× | 4.17× | ||
| Q1 24 | 1.53× | -0.85× |
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% |
TSN
| Beef | $5.8B | 40% |
| Retail Sales Channel | $2.9B | 20% |
| Pork | $1.6B | 11% |
| Foodservice Sales Channel | $1.6B | 11% |
| Other | $776.0M | 5% |
| Industrialand Other Sales Channel | $575.0M | 4% |
| International Sales Channel | $542.0M | 4% |
| Intersegment Revenues | $534.0M | 4% |
