vs
高通（QCOM）与德州仪器（TXN）财务数据对比。点击上方公司名可切换其他公司
德州仪器的季度营收约是高通的1.5倍（$18.4B vs $12.3B），高通净利率更高（24.5% vs 8.4%，领先16.1%），德州仪器同比增速更快（18.6% vs 5.0%），高通自由现金流更多（$4.4B vs $1.4B），过去两年德州仪器的营收复合增速更高（119.6% 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。
德州仪器（TI）是总部位于美国得克萨斯州达拉斯的跨国半导体企业，销售额位居全球半导体行业前十。公司核心业务为模拟芯片与嵌入式处理器研发，相关收入占总营收80%以上，此外还拥有DLP数字光处理技术，生产计算器、微控制器、多核处理器等教育科技产品。
QCOM vs TXN — 直观对比
营收规模更大
TXN
是对方的1.5倍
$12.3B
营收增速更快
TXN
高出13.6%
5.0%
净利率更高
QCOM
高出16.1%
8.4%
自由现金流更多
QCOM
多$3.0B
$1.4B
两年增速更快
TXN
近两年复合增速
14.2%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $12.3B | $18.4B |
| 净利润 | $3.0B | $1.5B |
| 毛利率 | 54.6% | 15.2% |
| 营业利润率 | 27.5% | 9.8% |
| 净利率 | 24.5% | 8.4% |
| 营收同比 | 5.0% | 18.6% |
| 净利润同比 | -5.5% | 31.0% |
| 每股收益（稀释后） | $2.78 | $1.68 |
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QCOMTXN
| Q1 26 | — | $18.4B | ||
| Q4 25 | $12.3B | $4.4B | ||
| Q3 25 | $11.3B | $4.7B | ||
| Q2 25 | $10.4B | $4.4B | ||
| Q1 25 | $11.0B | $4.1B | ||
| Q4 24 | $11.7B | $4.0B | ||
| Q3 24 | $10.2B | $4.2B | ||
| Q2 24 | $9.4B | $3.8B |
净利润QCOMTXN
| Q1 26 | — | $1.5B | ||
| Q4 25 | $3.0B | $1.2B | ||
| Q3 25 | $-3.1B | $1.4B | ||
| Q2 25 | $2.7B | $1.3B | ||
| Q1 25 | $2.8B | $1.2B | ||
| Q4 24 | $3.2B | $1.2B | ||
| Q3 24 | $2.9B | $1.4B | ||
| Q2 24 | $2.1B | $1.1B |
毛利率QCOMTXN
| Q1 26 | — | 15.2% | ||
| Q4 25 | 54.6% | 55.9% | ||
| Q3 25 | 55.3% | 57.4% | ||
| Q2 25 | 55.6% | 57.9% | ||
| Q1 25 | 55.0% | 56.8% | ||
| Q4 24 | 55.8% | 57.7% | ||
| Q3 24 | 56.4% | 59.6% | ||
| Q2 24 | 55.6% | 57.8% |
营业利润率QCOMTXN
| Q1 26 | — | 9.8% | ||
| Q4 25 | 27.5% | 33.3% | ||
| Q3 25 | 25.9% | 35.1% | ||
| Q2 25 | 26.6% | 35.1% | ||
| Q1 25 | 28.4% | 32.5% | ||
| Q4 24 | 30.5% | 34.4% | ||
| Q3 24 | 25.2% | 37.4% | ||
| Q2 24 | 23.6% | 32.7% |
净利率QCOMTXN
| Q1 26 | — | 8.4% | ||
| Q4 25 | 24.5% | 26.3% | ||
| Q3 25 | -27.7% | 28.8% | ||
| Q2 25 | 25.7% | 29.1% | ||
| Q1 25 | 25.6% | 29.0% | ||
| Q4 24 | 27.3% | 30.1% | ||
| Q3 24 | 28.5% | 32.8% | ||
| Q2 24 | 22.7% | 29.5% |
每股收益（稀释后）QCOMTXN
| Q1 26 | — | $1.68 | ||
| Q4 25 | $2.78 | $1.28 | ||
| Q3 25 | $-2.77 | $1.48 | ||
| Q2 25 | $2.43 | $1.41 | ||
| Q1 25 | $2.52 | $1.28 | ||
| Q4 24 | $2.83 | $1.31 | ||
| Q3 24 | $2.57 | $1.47 | ||
| Q2 24 | $1.88 | $1.22 |
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 | $5.1B |
| 总债务越低越好 | $14.8B | $14.1B |
| 股东权益账面价值 | $23.1B | $16.8B |
| 总资产 | $53.0B | $34.4B |
| 负债/权益比越低杠杆越低 | 0.64× | 0.84× |
8季度趋势，按日历期对齐
现金及短期投资QCOMTXN
| Q1 26 | — | $5.1B | ||
| Q4 25 | $11.8B | $4.9B | ||
| Q3 25 | $10.2B | $5.2B | ||
| Q2 25 | $10.0B | $5.4B | ||
| Q1 25 | $13.8B | $5.0B | ||
| Q4 24 | $14.3B | $7.6B | ||
| Q3 24 | $13.3B | $8.8B | ||
| Q2 24 | $13.0B | $9.7B |
总债务QCOMTXN
| Q1 26 | — | $14.1B | ||
| Q4 25 | $14.8B | $14.0B | ||
| Q3 25 | $14.8B | $14.0B | ||
| Q2 25 | $14.8B | $14.0B | ||
| Q1 25 | $13.3B | $12.8B | ||
| Q4 24 | $13.2B | $13.6B | ||
| Q3 24 | $13.3B | $13.9B | ||
| Q2 24 | $13.2B | $13.9B |
股东权益QCOMTXN
| Q1 26 | — | $16.8B | ||
| Q4 25 | $23.1B | $16.3B | ||
| Q3 25 | $21.2B | $16.6B | ||
| Q2 25 | $27.2B | $16.4B | ||
| Q1 25 | $27.7B | $16.4B | ||
| Q4 24 | $26.9B | $16.9B | ||
| Q3 24 | $26.3B | $17.3B | ||
| Q2 24 | $24.7B | $17.2B |
总资产QCOMTXN
| Q1 26 | — | $34.4B | ||
| Q4 25 | $53.0B | $34.6B | ||
| Q3 25 | $50.1B | $35.0B | ||
| Q2 25 | $54.9B | $34.9B | ||
| Q1 25 | $55.4B | $33.8B | ||
| Q4 24 | $55.6B | $35.5B | ||
| Q3 24 | $55.2B | $35.3B | ||
| Q2 24 | $52.7B | $35.0B |
负债/权益比QCOMTXN
| Q1 26 | — | 0.84× | ||
| Q4 25 | 0.64× | 0.86× | ||
| Q3 25 | 0.70× | 0.84× | ||
| Q2 25 | 0.54× | 0.86× | ||
| Q1 25 | 0.48× | 0.78× | ||
| Q4 24 | 0.49× | 0.80× | ||
| Q3 24 | 0.51× | 0.80× | ||
| Q2 24 | 0.53× | 0.81× |
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 | $1.4B |
| 自由现金流率自由现金流/营收 | 36.0% | 7.6% |
| 资本支出强度资本支出/营收 | 4.5% | 3.7% |
| 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 | $4.3B |
8季度趋势，按日历期对齐
经营现金流QCOMTXN
| Q1 26 | — | — | ||
| Q4 25 | $5.0B | $2.3B | ||
| Q3 25 | $4.0B | $2.2B | ||
| Q2 25 | $2.9B | $1.9B | ||
| Q1 25 | $2.6B | $849.0M | ||
| Q4 24 | $4.6B | $2.0B | ||
| Q3 24 | $2.6B | $1.7B | ||
| Q2 24 | $3.1B | $1.6B |
自由现金流QCOMTXN
| Q1 26 | — | $1.4B | ||
| Q4 25 | $4.4B | $1.3B | ||
| Q3 25 | $3.6B | $993.0M | ||
| Q2 25 | $2.6B | $555.0M | ||
| Q1 25 | $2.3B | $-274.0M | ||
| Q4 24 | $4.3B | $806.0M | ||
| Q3 24 | $2.4B | $416.0M | ||
| Q2 24 | $2.7B | $507.0M |
自由现金流率QCOMTXN
| Q1 26 | — | 7.6% | ||
| Q4 25 | 36.0% | 30.0% | ||
| Q3 25 | 31.8% | 20.9% | ||
| Q2 25 | 24.9% | 12.5% | ||
| Q1 25 | 21.3% | -6.7% | ||
| Q4 24 | 36.9% | 20.1% | ||
| Q3 24 | 23.3% | 10.0% | ||
| Q2 24 | 28.4% | 13.3% |
资本支出强度QCOMTXN
| Q1 26 | — | 3.7% | ||
| Q4 25 | 4.5% | 20.9% | ||
| Q3 25 | 3.6% | 25.2% | ||
| Q2 25 | 2.8% | 29.3% | ||
| Q1 25 | 1.9% | 27.6% | ||
| Q4 24 | 2.4% | 29.7% | ||
| Q3 24 | 2.5% | 31.7% | ||
| Q2 24 | 4.1% | 27.8% |
现金转化率QCOMTXN
| Q1 26 | — | — | ||
| Q4 25 | 1.65× | 1.94× | ||
| Q3 25 | — | 1.61× | ||
| Q2 25 | 1.08× | 1.44× | ||
| Q1 25 | 0.91× | 0.72× | ||
| Q4 24 | 1.44× | 1.66× | ||
| Q3 24 | 0.91× | 1.27× | ||
| Q2 24 | 1.43× | 1.39× |
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% |
TXN
暂无分部数据
