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标普全球（VG）与西部数据（WDC）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是西部数据的1.5倍（$4.4B vs $3.0B），西部数据净利率更高（61.1% vs 26.8%，领先34.3%），标普全球同比增速更快（191.7% vs 31.5%），过去两年标普全球的营收复合增速更高（77.3% vs -6.6%）
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
西部数据（简称WD）是总部位于美国加利福尼亚州圣何塞的知名数据存储企业，成立于1970年，是全球最大的硬盘驱动器（HDD）制造商之一，产品覆盖消费级、企业级等多元存储场景，为全球客户提供高性能、高可靠性的存储解决方案。
VG vs WDC — 直观对比
营收规模更大
VG
是对方的1.5倍
$3.0B
营收增速更快
VG
高出160.1%
31.5%
净利率更高
WDC
高出34.3%
26.8%
两年增速更快
VG
近两年复合增速
-6.6%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.4B | $3.0B |
| 净利润 | $1.2B | $1.8B |
| 毛利率 | — | 45.7% |
| 营业利润率 | 38.7% | 30.1% |
| 净利率 | 26.8% | 61.1% |
| 营收同比 | 191.7% | 31.5% |
| 净利润同比 | 20.3% | 254.2% |
| 每股收益（稀释后） | $0.41 | $4.73 |
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VGWDC
| Q1 26 | — | $3.0B | ||
| Q4 25 | $4.4B | $2.8B | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.1B | $-1.2B | ||
| Q1 25 | $2.9B | $2.3B | ||
| Q4 24 | $1.5B | $4.3B | ||
| Q3 24 | $926.0M | $4.1B | ||
| Q2 24 | $1.1B | $3.8B |
净利润VGWDC
| Q1 26 | — | $1.8B | ||
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $550.0M | — | ||
| Q2 25 | $475.0M | $282.0M | ||
| Q1 25 | $517.0M | $520.0M | ||
| Q4 24 | $990.0M | $594.0M | ||
| Q3 24 | $-294.0M | $493.0M | ||
| Q2 24 | $352.0M | $39.0M |
毛利率VGWDC
| Q1 26 | — | 45.7% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 35.4% | ||
| Q3 24 | — | 37.9% | ||
| Q2 24 | — | 35.9% |
营业利润率VGWDC
| Q1 26 | — | 30.1% | ||
| Q4 25 | 38.7% | 28.1% | ||
| Q3 25 | 39.7% | — | ||
| Q2 25 | 33.5% | — | ||
| Q1 25 | 37.3% | 33.1% | ||
| Q4 24 | 39.0% | 19.9% | ||
| Q3 24 | 20.4% | 18.1% | ||
| Q2 24 | 32.8% | 5.7% |
净利率VGWDC
| Q1 26 | — | 61.1% | ||
| Q4 25 | 26.8% | 41.9% | ||
| Q3 25 | 16.5% | — | ||
| Q2 25 | 15.3% | -24.4% | ||
| Q1 25 | 17.9% | 22.7% | ||
| Q4 24 | 65.0% | 13.9% | ||
| Q3 24 | -31.7% | 12.0% | ||
| Q2 24 | 31.8% | 1.0% |
每股收益（稀释后）VGWDC
| Q1 26 | — | $4.73 | ||
| Q4 25 | $0.41 | $3.07 | ||
| Q3 25 | $0.16 | — | ||
| Q2 25 | $0.14 | $0.72 | ||
| Q1 25 | $0.15 | $1.42 | ||
| Q4 24 | $0.35 | $1.63 | ||
| Q3 24 | $-0.15 | $1.35 | ||
| Q2 24 | $0.12 | $0.15 |
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 | $2.4B | $2.0B |
| 总债务越低越好 | $34.2B | $4.7B |
| 股东权益账面价值 | $6.7B | $7.1B |
| 总资产 | $53.4B | $15.6B |
| 负债/权益比越低杠杆越低 | 5.07× | 0.65× |
8季度趋势，按日历期对齐
现金及短期投资VGWDC
| Q1 26 | — | $2.0B | ||
| Q4 25 | $2.4B | $2.0B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $2.2B | $2.1B | ||
| Q1 25 | $3.6B | $3.5B | ||
| Q4 24 | $3.6B | $2.3B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.9B |
总债务VGWDC
| Q1 26 | — | $4.7B | ||
| Q4 25 | $34.2B | $4.7B | ||
| Q3 25 | $32.6B | — | ||
| Q2 25 | $30.0B | $4.7B | ||
| Q1 25 | $29.3B | $7.3B | ||
| Q4 24 | $29.3B | $7.4B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $7.4B |
股东权益VGWDC
| Q1 26 | — | $7.1B | ||
| Q4 25 | $6.7B | $5.9B | ||
| Q3 25 | $5.7B | — | ||
| Q2 25 | $5.3B | $5.3B | ||
| Q1 25 | $4.9B | $5.2B | ||
| Q4 24 | $2.9B | $12.1B | ||
| Q3 24 | — | $11.6B | ||
| Q2 24 | — | $10.8B |
总资产VGWDC
| Q1 26 | — | $15.6B | ||
| Q4 25 | $53.4B | $14.4B | ||
| Q3 25 | $50.1B | — | ||
| Q2 25 | $46.5B | $14.0B | ||
| Q1 25 | $45.1B | $16.4B | ||
| Q4 24 | $43.5B | $25.5B | ||
| Q3 24 | — | $24.8B | ||
| Q2 24 | — | $24.2B |
负债/权益比VGWDC
| Q1 26 | — | 0.65× | ||
| Q4 25 | 5.07× | 0.80× | ||
| Q3 25 | 5.73× | — | ||
| Q2 25 | 5.69× | 0.89× | ||
| Q1 25 | 6.01× | 1.42× | ||
| Q4 24 | 10.11× | 0.61× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.69× |
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 | $2.1B | — |
| 自由现金流经营现金流 - 资本支出 | $-1.5B | — |
| 自由现金流率自由现金流/营收 | -34.1% | — |
| 资本支出强度资本支出/营收 | 81.6% | — |
| 现金转化率经营现金流/净利润 | 1.77× | — |
| 过去12个月自由现金流最近4个季度 | $-6.8B | — |
8季度趋势，按日历期对齐
经营现金流VGWDC
| Q1 26 | — | — | ||
| Q4 25 | $2.1B | $672.0M | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.5B | $746.0M | ||
| Q1 25 | $1.1B | $508.0M | ||
| Q4 24 | — | $403.0M | ||
| Q3 24 | — | $34.0M | ||
| Q2 24 | — | $366.0M |
自由现金流VGWDC
| Q1 26 | — | — | ||
| Q4 25 | $-1.5B | $599.0M | ||
| Q3 25 | $-1.4B | — | ||
| Q2 25 | $-1.5B | $675.0M | ||
| Q1 25 | $-2.4B | $379.0M | ||
| Q4 24 | — | $287.0M | ||
| Q3 24 | — | $-62.0M | ||
| Q2 24 | — | $250.0M |
自由现金流率VGWDC
| Q1 26 | — | — | ||
| Q4 25 | -34.1% | 21.3% | ||
| Q3 25 | -42.4% | — | ||
| Q2 25 | -49.1% | -58.5% | ||
| Q1 25 | -81.3% | 16.5% | ||
| Q4 24 | — | 6.7% | ||
| Q3 24 | — | -1.5% | ||
| Q2 24 | — | 6.6% |
资本支出强度VGWDC
| Q1 26 | — | — | ||
| Q4 25 | 81.6% | 2.6% | ||
| Q3 25 | 98.9% | — | ||
| Q2 25 | 96.1% | -6.2% | ||
| Q1 25 | 119.8% | 5.6% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 3.1% |
现金转化率VGWDC
| Q1 26 | — | — | ||
| Q4 25 | 1.77× | 0.57× | ||
| Q3 25 | 3.42× | — | ||
| Q2 25 | 3.07× | 2.65× | ||
| Q1 25 | 2.15× | 0.98× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 9.38× |
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
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
WDC
| Cloud | $2.7B | 89% |
| Client Devices | $176.0M | 6% |
| Consumer | $168.0M | 6% |
