vs
安捷伦科技（A）与嘉德诺（BTSG）财务数据对比。点击上方公司名可切换其他公司
嘉德诺的季度营收约是安捷伦科技的2.0倍（$3.6B vs $1.8B）。安捷伦科技净利率更高（17.0% vs 2.2%，领先14.8%）。嘉德诺同比增速更快（16.3% vs 7.0%）。嘉德诺自由现金流更多（$193.9M vs $175.0M）。过去两年嘉德诺的营收复合增速更高（17.4% vs 6.9%）
安捷伦科技是全球知名的生命科学、诊断与应用化学领域解决方案提供商，旗下生命科学与应用市场业务板块提供液相色谱系统及组件、液相色谱质谱联用系统、气相色谱设备、电感耦合等离子体质谱仪、原子吸收仪等多种分析检测仪器，服务全球各领域客户。
嘉德诺是美国跨国医疗服务企业，位列美国企业营收榜第15位，总部位于俄亥俄州都柏林。公司主营药品与医疗产品分销，服务覆盖超10万个网点，同时生产手套、手术服、流体管理产品等医用外科用品，还运营着规模位居前列的放射性药物网络。
A vs BTSG — 直观对比
营收规模更大
BTSG
是对方的2.0倍
$1.8B
营收增速更快
BTSG
高出9.3%
7.0%
净利率更高
A
高出14.8%
2.2%
自由现金流更多
BTSG
多$18.9M
$175.0M
两年增速更快
BTSG
近两年复合增速
6.9%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $3.6B |
| 净利润 | $305.0M | $77.1M |
| 毛利率 | 52.6% | 11.6% |
| 营业利润率 | 19.6% | 3.0% |
| 净利率 | 17.0% | 2.2% |
| 营收同比 | 7.0% | 16.3% |
| 净利润同比 | -4.1% | 381.8% |
| 每股收益（稀释后） | $1.07 | $0.34 |
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ABTSG
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.9B | $3.6B | ||
| Q3 25 | $1.7B | $3.3B | ||
| Q2 25 | $1.7B | $3.1B | ||
| Q1 25 | $1.7B | $2.9B | ||
| Q4 24 | $1.7B | $3.1B | ||
| Q3 24 | $1.6B | $2.9B | ||
| Q2 24 | $1.6B | $2.7B |
净利润ABTSG
| Q1 26 | $305.0M | — | ||
| Q4 25 | $434.0M | $77.1M | ||
| Q3 25 | $336.0M | $55.8M | ||
| Q2 25 | $215.0M | $28.2M | ||
| Q1 25 | $318.0M | $29.5M | ||
| Q4 24 | $351.0M | $16.0M | ||
| Q3 24 | $282.0M | $-8.2M | ||
| Q2 24 | $308.0M | $19.9M |
毛利率ABTSG
| Q1 26 | 52.6% | — | ||
| Q4 25 | 53.2% | 11.6% | ||
| Q3 25 | 51.1% | 11.8% | ||
| Q2 25 | 51.9% | 11.9% | ||
| Q1 25 | 53.5% | 11.8% | ||
| Q4 24 | 53.9% | 13.8% | ||
| Q3 24 | 54.2% | 14.0% | ||
| Q2 24 | 54.4% | 14.2% |
营业利润率ABTSG
| Q1 26 | 19.6% | — | ||
| Q4 25 | 23.8% | 3.0% | ||
| Q3 25 | 20.7% | 2.6% | ||
| Q2 25 | 18.0% | 1.5% | ||
| Q1 25 | 22.4% | 1.8% | ||
| Q4 24 | 24.0% | 2.6% | ||
| Q3 24 | 21.1% | 2.0% | ||
| Q2 24 | 23.1% | 2.3% |
净利率ABTSG
| Q1 26 | 17.0% | — | ||
| Q4 25 | 23.3% | 2.2% | ||
| Q3 25 | 19.3% | 1.7% | ||
| Q2 25 | 12.9% | 0.9% | ||
| Q1 25 | 18.9% | 1.0% | ||
| Q4 24 | 20.6% | 0.5% | ||
| Q3 24 | 17.9% | -0.3% | ||
| Q2 24 | 19.6% | 0.7% |
每股收益（稀释后）ABTSG
| Q1 26 | $1.07 | — | ||
| Q4 25 | $1.53 | $0.34 | ||
| Q3 25 | $1.18 | $0.26 | ||
| Q2 25 | $0.75 | $0.13 | ||
| Q1 25 | $1.11 | $0.14 | ||
| Q4 24 | $1.23 | $0.11 | ||
| Q3 24 | $0.97 | $-0.04 | ||
| Q2 24 | $1.05 | $0.10 |
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 | $1.8B | $88.4M |
| 总债务越低越好 | $3.0B | $2.5B |
| 股东权益账面价值 | $6.9B | $1.9B |
| 总资产 | $12.8B | $6.4B |
| 负债/权益比越低杠杆越低 | 0.44× | 1.34× |
8季度趋势，按日历期对齐
现金及短期投资ABTSG
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.8B | $88.4M | ||
| Q3 25 | $1.5B | $140.3M | ||
| Q2 25 | $1.5B | $70.1M | ||
| Q1 25 | $1.5B | $52.3M | ||
| Q4 24 | $1.3B | $61.3M | ||
| Q3 24 | $1.8B | $36.0M | ||
| Q2 24 | $1.7B | $25.0M |
总债务ABTSG
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.0B | $2.5B | ||
| Q3 25 | $3.4B | $2.5B | ||
| Q2 25 | $3.3B | $2.5B | ||
| Q1 25 | $3.3B | $2.5B | ||
| Q4 24 | $3.3B | $2.6B | ||
| Q3 24 | $2.1B | $2.7B | ||
| Q2 24 | $2.1B | $2.6B |
股东权益ABTSG
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.7B | $1.9B | ||
| Q3 25 | $6.4B | $1.8B | ||
| Q2 25 | $6.1B | $1.7B | ||
| Q1 25 | $6.0B | $1.7B | ||
| Q4 24 | $5.9B | $1.6B | ||
| Q3 24 | $5.9B | $1.6B | ||
| Q2 24 | $6.2B | $1.6B |
总资产ABTSG
| Q1 26 | $12.8B | — | ||
| Q4 25 | $12.7B | $6.4B | ||
| Q3 25 | $12.2B | $6.0B | ||
| Q2 25 | $12.2B | $5.9B | ||
| Q1 25 | $11.9B | $5.8B | ||
| Q4 24 | $11.8B | $5.9B | ||
| Q3 24 | $11.0B | $5.8B | ||
| Q2 24 | $10.9B | $5.6B |
负债/权益比ABTSG
| Q1 26 | 0.44× | — | ||
| Q4 25 | 0.45× | 1.34× | ||
| Q3 25 | 0.53× | 1.38× | ||
| Q2 25 | 0.55× | 1.45× | ||
| Q1 25 | 0.56× | 1.50× | ||
| Q4 24 | 0.57× | 1.58× | ||
| Q3 24 | 0.36× | 1.65× | ||
| Q2 24 | 0.34× | 1.63× |
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 | $268.0M | $231.6M |
| 自由现金流经营现金流 - 资本支出 | $175.0M | $193.9M |
| 自由现金流率自由现金流/营收 | 9.7% | 5.5% |
| 资本支出强度资本支出/营收 | 5.2% | 1.1% |
| 现金转化率经营现金流/净利润 | 0.88× | 3.00× |
| 过去12个月自由现金流最近4个季度 | $993.0M | $394.7M |
8季度趋势，按日历期对齐
经营现金流ABTSG
| Q1 26 | $268.0M | — | ||
| Q4 25 | $545.0M | $231.6M | ||
| Q3 25 | $362.0M | $107.9M | ||
| Q2 25 | $221.0M | $49.1M | ||
| Q1 25 | $431.0M | $101.6M | ||
| Q4 24 | $481.0M | $90.6M | ||
| Q3 24 | $452.0M | $27.2M | ||
| Q2 24 | $333.0M | $-15.2M |
自由现金流ABTSG
| Q1 26 | $175.0M | — | ||
| Q4 25 | $452.0M | $193.9M | ||
| Q3 25 | $259.0M | $92.2M | ||
| Q2 25 | $107.0M | $24.7M | ||
| Q1 25 | $334.0M | $84.0M | ||
| Q4 24 | $388.0M | $75.3M | ||
| Q3 24 | $360.0M | $7.2M | ||
| Q2 24 | $230.0M | $-39.0M |
自由现金流率ABTSG
| Q1 26 | 9.7% | — | ||
| Q4 25 | 24.3% | 5.5% | ||
| Q3 25 | 14.9% | 2.8% | ||
| Q2 25 | 6.4% | 0.8% | ||
| Q1 25 | 19.9% | 2.9% | ||
| Q4 24 | 22.8% | 2.5% | ||
| Q3 24 | 22.8% | 0.2% | ||
| Q2 24 | 14.6% | -1.4% |
资本支出强度ABTSG
| Q1 26 | 5.2% | — | ||
| Q4 25 | 5.0% | 1.1% | ||
| Q3 25 | 5.9% | 0.5% | ||
| Q2 25 | 6.8% | 0.8% | ||
| Q1 25 | 5.8% | 0.6% | ||
| Q4 24 | 5.5% | 0.5% | ||
| Q3 24 | 5.8% | 0.7% | ||
| Q2 24 | 6.5% | 0.9% |
现金转化率ABTSG
| Q1 26 | 0.88× | — | ||
| Q4 25 | 1.26× | 3.00× | ||
| Q3 25 | 1.08× | 1.93× | ||
| Q2 25 | 1.03× | 1.74× | ||
| Q1 25 | 1.36× | 3.44× | ||
| Q4 24 | 1.37× | 5.66× | ||
| Q3 24 | 1.60× | — | ||
| Q2 24 | 1.08× | -0.76× |
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
A
| Service Other | $525.0M | 29% |
| Chemicaland Energy Market | $422.0M | 23% |
| Agilent Cross Lab | $273.0M | 15% |
| Environmentaland Forensics Market | $177.0M | 10% |
| Food Market | $166.0M | 9% |
| Academiaand Government Market | $130.0M | 7% |
| Applied Markets | $98.0M | 5% |
BTSG
| Medicare D | $1.1B | 32% |
| Commercial Insurance | $879.8M | 25% |
| Medicare C | $641.2M | 18% |
| Provider Services | $394.2M | 11% |
| Medicaid | $301.4M | 8% |
| Medicare A | $150.5M | 4% |
| Private And Other | $44.0M | 1% |
| Medicare B | $19.5M | 1% |
| Pharmacy Solutions And Provider Services Segments | $19.0M | 1% |
