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高通（QCOM）与US Foods Holding Corp.（USFD）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US Foods Holding Corp.的1.3倍（$12.3B vs $9.8B），高通净利率更高（24.5% vs 1.9%，领先22.6%），高通同比增速更快（5.0% vs 3.3%），高通自由现金流更多（$4.4B vs $159.0M），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。
US Foods Holding Corp.是美国第二大食品服务分销商，规模仅次于Sysco。公司服务覆盖独立餐厅、连锁餐饮、医疗保健、酒店、教育机构等共计25万个场点，为各类客户提供食品配送及相关供应链服务，业务覆盖场景十分多元。
QCOM vs USFD — 直观对比
营收规模更大
QCOM
是对方的1.3倍
$9.8B
营收增速更快
QCOM
高出1.7%
3.3%
净利率更高
QCOM
高出22.6%
1.9%
自由现金流更多
QCOM
多$4.3B
$159.0M
两年增速更快
QCOM
近两年复合增速
4.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $12.3B | $9.8B |
| 净利润 | $3.0B | $184.0M |
| 毛利率 | 54.6% | 17.6% |
| 营业利润率 | 27.5% | 3.3% |
| 净利率 | 24.5% | 1.9% |
| 营收同比 | 5.0% | 3.3% |
| 净利润同比 | -5.5% | 178.8% |
| 每股收益（稀释后） | $2.78 | $0.82 |
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QCOMUSFD
| Q4 25 | $12.3B | $9.8B | ||
| Q3 25 | $11.3B | $10.2B | ||
| Q2 25 | $10.4B | $10.1B | ||
| Q1 25 | $11.0B | $9.4B | ||
| Q4 24 | $11.7B | $9.5B | ||
| Q3 24 | $10.2B | $9.7B | ||
| Q2 24 | $9.4B | $9.7B | ||
| Q1 24 | $9.4B | $8.9B |
净利润QCOMUSFD
| Q4 25 | $3.0B | $184.0M | ||
| Q3 25 | $-3.1B | $153.0M | ||
| Q2 25 | $2.7B | $224.0M | ||
| Q1 25 | $2.8B | $115.0M | ||
| Q4 24 | $3.2B | $66.0M | ||
| Q3 24 | $2.9B | $148.0M | ||
| Q2 24 | $2.1B | $198.0M | ||
| Q1 24 | $2.3B | $82.0M |
毛利率QCOMUSFD
| Q4 25 | 54.6% | 17.6% | ||
| Q3 25 | 55.3% | 17.2% | ||
| Q2 25 | 55.6% | 17.6% | ||
| Q1 25 | 55.0% | 17.3% | ||
| Q4 24 | 55.8% | 17.6% | ||
| Q3 24 | 56.4% | 17.1% | ||
| Q2 24 | 55.6% | 17.6% | ||
| Q1 24 | 56.3% | 16.7% |
营业利润率QCOMUSFD
| Q4 25 | 27.5% | 3.3% | ||
| Q3 25 | 25.9% | 2.8% | ||
| Q2 25 | 26.6% | 3.7% | ||
| Q1 25 | 28.4% | 2.4% | ||
| Q4 24 | 30.5% | 3.2% | ||
| Q3 24 | 25.2% | 2.9% | ||
| Q2 24 | 23.6% | 3.6% | ||
| Q1 24 | 24.9% | 1.8% |
净利率QCOMUSFD
| Q4 25 | 24.5% | 1.9% | ||
| Q3 25 | -27.7% | 1.5% | ||
| Q2 25 | 25.7% | 2.2% | ||
| Q1 25 | 25.6% | 1.2% | ||
| Q4 24 | 27.3% | 0.7% | ||
| Q3 24 | 28.5% | 1.5% | ||
| Q2 24 | 22.7% | 2.0% | ||
| Q1 24 | 24.8% | 0.9% |
每股收益（稀释后）QCOMUSFD
| Q4 25 | $2.78 | $0.82 | ||
| Q3 25 | $-2.77 | $0.67 | ||
| Q2 25 | $2.43 | $0.96 | ||
| Q1 25 | $2.52 | $0.49 | ||
| Q4 24 | $2.83 | $0.28 | ||
| Q3 24 | $2.57 | $0.61 | ||
| Q2 24 | $1.88 | $0.80 | ||
| Q1 24 | $2.06 | $0.33 |
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 | $41.0M |
| 总债务越低越好 | $14.8B | $5.1B |
| 股东权益账面价值 | $23.1B | $4.3B |
| 总资产 | $53.0B | $13.9B |
| 负债/权益比越低杠杆越低 | 0.64× | 1.18× |
8季度趋势，按日历期对齐
现金及短期投资QCOMUSFD
| Q4 25 | $11.8B | $41.0M | ||
| Q3 25 | $10.2B | $56.0M | ||
| Q2 25 | $10.0B | $61.0M | ||
| Q1 25 | $13.8B | $101.0M | ||
| Q4 24 | $14.3B | $59.0M | ||
| Q3 24 | $13.3B | $81.0M | ||
| Q2 24 | $13.0B | $405.0M | ||
| Q1 24 | $13.9B | $267.0M |
总债务QCOMUSFD
| Q4 25 | $14.8B | $5.1B | ||
| Q3 25 | $14.8B | $4.8B | ||
| Q2 25 | $14.8B | $4.7B | ||
| Q1 25 | $13.3B | $4.7B | ||
| Q4 24 | $13.2B | $4.8B | ||
| Q3 24 | $13.3B | $4.7B | ||
| Q2 24 | $13.2B | $4.6B | ||
| Q1 24 | $14.5B | $4.6B |
股东权益QCOMUSFD
| Q4 25 | $23.1B | $4.3B | ||
| Q3 25 | $21.2B | $4.5B | ||
| Q2 25 | $27.2B | $4.6B | ||
| Q1 25 | $27.7B | $4.6B | ||
| Q4 24 | $26.9B | $4.5B | ||
| Q3 24 | $26.3B | $4.6B | ||
| Q2 24 | $24.7B | $5.0B | ||
| Q1 24 | $24.5B | $4.8B |
总资产QCOMUSFD
| Q4 25 | $53.0B | $13.9B | ||
| Q3 25 | $50.1B | $14.0B | ||
| Q2 25 | $54.9B | $13.8B | ||
| Q1 25 | $55.4B | $13.7B | ||
| Q4 24 | $55.6B | $13.4B | ||
| Q3 24 | $55.2B | $13.5B | ||
| Q2 24 | $52.7B | $13.7B | ||
| Q1 24 | $53.2B | $13.4B |
负债/权益比QCOMUSFD
| Q4 25 | 0.64× | 1.18× | ||
| Q3 25 | 0.70× | 1.08× | ||
| Q2 25 | 0.54× | 1.02× | ||
| Q1 25 | 0.48× | 1.02× | ||
| Q4 24 | 0.49× | 1.06× | ||
| Q3 24 | 0.51× | 1.01× | ||
| Q2 24 | 0.53× | 0.92× | ||
| Q1 24 | 0.59× | 0.95× |
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 | $293.0M |
| 自由现金流经营现金流 - 资本支出 | $4.4B | $159.0M |
| 自由现金流率自由现金流/营收 | 36.0% | 1.6% |
| 资本支出强度资本支出/营收 | 4.5% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.65× | 1.59× |
| 过去12个月自由现金流最近4个季度 | $12.9B | $959.0M |
8季度趋势，按日历期对齐
经营现金流QCOMUSFD
| Q4 25 | $5.0B | $293.0M | ||
| Q3 25 | $4.0B | $351.0M | ||
| Q2 25 | $2.9B | $334.0M | ||
| Q1 25 | $2.6B | $391.0M | ||
| Q4 24 | $4.6B | $283.0M | ||
| Q3 24 | $2.6B | $270.0M | ||
| Q2 24 | $3.1B | $482.0M | ||
| Q1 24 | $3.6B | $139.0M |
自由现金流QCOMUSFD
| Q4 25 | $4.4B | $159.0M | ||
| Q3 25 | $3.6B | $236.0M | ||
| Q2 25 | $2.6B | $257.0M | ||
| Q1 25 | $2.3B | $307.0M | ||
| Q4 24 | $4.3B | $178.0M | ||
| Q3 24 | $2.4B | $190.0M | ||
| Q2 24 | $2.7B | $413.0M | ||
| Q1 24 | $3.4B | $52.0M |
自由现金流率QCOMUSFD
| Q4 25 | 36.0% | 1.6% | ||
| Q3 25 | 31.8% | 2.3% | ||
| Q2 25 | 24.9% | 2.5% | ||
| Q1 25 | 21.3% | 3.3% | ||
| Q4 24 | 36.9% | 1.9% | ||
| Q3 24 | 23.3% | 2.0% | ||
| Q2 24 | 28.4% | 4.3% | ||
| Q1 24 | 35.9% | 0.6% |
资本支出强度QCOMUSFD
| Q4 25 | 4.5% | 1.4% | ||
| Q3 25 | 3.6% | 1.1% | ||
| Q2 25 | 2.8% | 0.8% | ||
| Q1 25 | 1.9% | 0.9% | ||
| Q4 24 | 2.4% | 1.1% | ||
| Q3 24 | 2.5% | 0.8% | ||
| Q2 24 | 4.1% | 0.7% | ||
| Q1 24 | 2.0% | 1.0% |
现金转化率QCOMUSFD
| Q4 25 | 1.65× | 1.59× | ||
| Q3 25 | — | 2.29× | ||
| Q2 25 | 1.08× | 1.49× | ||
| Q1 25 | 0.91× | 3.40× | ||
| Q4 24 | 1.44× | 4.29× | ||
| Q3 24 | 0.91× | 1.82× | ||
| Q2 24 | 1.43× | 2.43× | ||
| Q1 24 | 1.53× | 1.70× |
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% |
USFD
| Product One | $3.5B | 36% |
| Product Two | $1.7B | 17% |
| Product Three | $1.7B | 17% |
| Product Four | $985.0M | 10% |
| Product Five | $901.0M | 9% |
| Product Six | $580.0M | 6% |
| Product Seven | $485.0M | 5% |
