vs
泰瑞达（TER）与台积电（TSM）财务数据对比。点击上方公司名可切换其他公司
台积电的季度营收约是泰瑞达的32.8倍（$35.5B vs $1.1B），台积电净利率更高（50.5% vs 23.7%，领先26.7%）
泰瑞达是总部位于美国马萨诸塞州北雷丁的自动测试设备（ATE）设计及制造企业，在全球半导体测试领域拥有深厚技术积累，服务的知名客户涵盖三星、高通、英特尔、亚德诺、德州仪器、IBM等行业头部企业。
台积电是全球规模最大的专业独立半导体晶圆代工厂，总部位于中国台湾新竹，主要为无晶圆厂客户代工生产先进逻辑芯片，服务客户包括苹果、英伟达、AMD、高通和博通等，在3纳米、5纳米、7纳米等先进制程节点领域处于行业领先地位。
TER vs TSM — 直观对比
营收规模更大
TSM
是对方的32.8倍
$1.1B
净利率更高
TSM
高出26.7%
23.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $35.5B |
| 净利润 | $257.2M | $17.9B |
| 毛利率 | 57.2% | 66.2% |
| 营业利润率 | 27.1% | 58.0% |
| 净利率 | 23.7% | 50.5% |
| 营收同比 | 43.9% | — |
| 净利润同比 | 75.9% | — |
| 每股收益（稀释后） | $1.62 | $111.55 |
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TERTSM
| Q1 26 | — | $35.5B | ||
| Q4 25 | $1.1B | $32.7B | ||
| Q3 25 | $769.2M | $30.7B | ||
| Q2 25 | $651.8M | $28.9B | ||
| Q1 25 | $685.7M | $26.0B | ||
| Q4 24 | $752.9M | $88.3B | ||
| Q3 24 | $737.3M | — | ||
| Q2 24 | $729.9M | — |
净利润TERTSM
| Q1 26 | — | $17.9B | ||
| Q4 25 | $257.2M | $15.8B | ||
| Q3 25 | $119.6M | $14.0B | ||
| Q2 25 | $78.4M | $12.3B | ||
| Q1 25 | $98.9M | $11.2B | ||
| Q4 24 | $146.3M | $35.3B | ||
| Q3 24 | $145.6M | — | ||
| Q2 24 | $186.3M | — |
毛利率TERTSM
| Q1 26 | — | 66.2% | ||
| Q4 25 | 57.2% | 62.3% | ||
| Q3 25 | 58.4% | 59.5% | ||
| Q2 25 | 57.2% | 58.6% | ||
| Q1 25 | 60.6% | 58.8% | ||
| Q4 24 | 59.4% | 56.1% | ||
| Q3 24 | 59.2% | — | ||
| Q2 24 | 58.3% | — |
营业利润率TERTSM
| Q1 26 | — | 58.0% | ||
| Q4 25 | 27.1% | 53.9% | ||
| Q3 25 | 18.9% | 50.6% | ||
| Q2 25 | 13.9% | 49.6% | ||
| Q1 25 | 17.6% | 48.5% | ||
| Q4 24 | 20.4% | 45.7% | ||
| Q3 24 | 20.6% | — | ||
| Q2 24 | 28.8% | — |
净利率TERTSM
| Q1 26 | — | 50.5% | ||
| Q4 25 | 23.7% | 48.3% | ||
| Q3 25 | 15.5% | 45.7% | ||
| Q2 25 | 12.0% | 42.7% | ||
| Q1 25 | 14.4% | 43.1% | ||
| Q4 24 | 19.4% | 40.0% | ||
| Q3 24 | 19.8% | — | ||
| Q2 24 | 25.5% | — |
每股收益（稀释后）TERTSM
| Q1 26 | — | $111.55 | ||
| Q4 25 | $1.62 | $98.45 | ||
| Q3 25 | $0.75 | $87.20 | ||
| Q2 25 | $0.49 | $76.80 | ||
| Q1 25 | $0.61 | $69.70 | ||
| Q4 24 | $0.89 | $1.36 | ||
| Q3 24 | $0.89 | — | ||
| Q2 24 | $1.14 | — |
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 | $293.8M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.8B | — |
| 总资产 | $4.2B | — |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资TERTSM
| Q1 26 | — | — | ||
| Q4 25 | $293.8M | — | ||
| Q3 25 | $272.7M | — | ||
| Q2 25 | $339.3M | — | ||
| Q1 25 | $475.6M | — | ||
| Q4 24 | $553.4M | $64.9B | ||
| Q3 24 | $510.0M | — | ||
| Q2 24 | $421.9M | — |
股东权益TERTSM
| Q1 26 | — | — | ||
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $2.8B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.8B | $130.5B | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $2.7B | — |
总资产TERTSM
| Q1 26 | — | — | ||
| Q4 25 | $4.2B | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.8B | — | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $3.7B | $204.1B | ||
| Q3 24 | $3.8B | — | ||
| Q2 24 | $3.6B | — |
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 | $281.6M | — |
| 自由现金流经营现金流 - 资本支出 | $218.8M | — |
| 自由现金流率自由现金流/营收 | 20.2% | — |
| 资本支出强度资本支出/营收 | 5.8% | — |
| 现金转化率经营现金流/净利润 | 1.09× | — |
| 过去12个月自由现金流最近4个季度 | $450.4M | — |
8季度趋势，按日历期对齐
经营现金流TERTSM
| Q1 26 | — | — | ||
| Q4 25 | $281.6M | — | ||
| Q3 25 | $49.0M | — | ||
| Q2 25 | $182.1M | — | ||
| Q1 25 | $161.6M | — | ||
| Q4 24 | $282.6M | $55.7B | ||
| Q3 24 | $166.3M | — | ||
| Q2 24 | $216.1M | — |
自由现金流TERTSM
| Q1 26 | — | — | ||
| Q4 25 | $218.8M | — | ||
| Q3 25 | $2.4M | — | ||
| Q2 25 | $131.7M | — | ||
| Q1 25 | $97.6M | — | ||
| Q4 24 | $225.2M | $26.5B | ||
| Q3 24 | $114.4M | — | ||
| Q2 24 | $171.2M | — |
自由现金流率TERTSM
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 20.2% | — | ||
| Q1 25 | 14.2% | — | ||
| Q4 24 | 29.9% | 30.1% | ||
| Q3 24 | 15.5% | — | ||
| Q2 24 | 23.5% | — |
资本支出强度TERTSM
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | — | ||
| Q3 25 | 6.1% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 9.3% | — | ||
| Q4 24 | 7.6% | 33.0% | ||
| Q3 24 | 7.0% | — | ||
| Q2 24 | 6.1% | — |
现金转化率TERTSM
| Q1 26 | — | — | ||
| Q4 25 | 1.09× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 2.32× | — | ||
| Q1 25 | 1.63× | — | ||
| Q4 24 | 1.93× | 1.58× | ||
| Q3 24 | 1.14× | — | ||
| Q2 24 | 1.16× | — |
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
TER
| Soc | $646.5M | 60% |
| Memory | $206.5M | 19% |
| Transferred At Point In Time | $90.0M | 8% |
| Universal Robots | $89.4M | 8% |
| IST | $30.5M | 3% |
| Transferred Over Time | $20.5M | 2% |
TSM
暂无分部数据
