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雅培（ABT）与通用电气医疗（GEHC）财务数据对比。点击上方公司名可切换其他公司
雅培的季度营收约是通用电气医疗的2.0倍（$11.5B vs $5.7B）。雅培净利率更高（15.5% vs 10.3%，领先5.2%）。通用电气医疗同比增速更快（7.1% vs 4.4%）。过去两年通用电气医疗的营收复合增速更高（10.7% vs 7.2%）
雅培是总部位于美国伊利诺伊州雅培园的跨国医疗健康企业，业务覆盖美国境外市场药品销售、诊断产品、营养产品及医疗器械等板块，在全球医疗健康领域拥有较高的行业知名度与广泛的市场覆盖。
通用电气医疗是总部位于美国伊利诺伊州芝加哥的医疗科技企业，旗下设四大业务板块：医学影像（含分子成像、CT、核磁共振、女性健康筛查、X射线系统）、超声、患者护理解决方案（聚焦远程患者监测、麻醉呼吸护理、心脏病诊断、婴幼儿照护）及制药诊断业务。
ABT vs GEHC — 直观对比
营收规模更大
ABT
是对方的2.0倍
$5.7B
营收增速更快
GEHC
高出2.7%
4.4%
净利率更高
ABT
高出5.2%
10.3%
两年增速更快
GEHC
近两年复合增速
7.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $11.5B | $5.7B |
| 净利润 | $1.8B | $588.0M |
| 毛利率 | 57.0% | 39.7% |
| 营业利润率 | 19.6% | 14.5% |
| 净利率 | 15.5% | 10.3% |
| 营收同比 | 4.4% | 7.1% |
| 净利润同比 | -80.8% | -18.4% |
| 每股收益（稀释后） | $1.01 | $1.28 |
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ABTGEHC
| Q4 25 | $11.5B | $5.7B | ||
| Q3 25 | $11.4B | $5.1B | ||
| Q2 25 | $11.1B | $5.0B | ||
| Q1 25 | $10.4B | $4.8B | ||
| Q4 24 | $11.0B | $5.3B | ||
| Q3 24 | $10.6B | $4.9B | ||
| Q2 24 | $10.4B | $4.8B | ||
| Q1 24 | $10.0B | $4.7B |
净利润ABTGEHC
| Q4 25 | $1.8B | $588.0M | ||
| Q3 25 | $1.6B | $446.0M | ||
| Q2 25 | $1.8B | $486.0M | ||
| Q1 25 | $1.3B | $564.0M | ||
| Q4 24 | $9.2B | $721.0M | ||
| Q3 24 | $1.6B | $470.0M | ||
| Q2 24 | $1.3B | $428.0M | ||
| Q1 24 | $1.2B | $374.0M |
毛利率ABTGEHC
| Q4 25 | 57.0% | 39.7% | ||
| Q3 25 | 55.4% | 38.7% | ||
| Q2 25 | 56.4% | 39.6% | ||
| Q1 25 | 56.9% | 42.1% | ||
| Q4 24 | 55.0% | 42.8% | ||
| Q3 24 | 55.8% | 41.7% | ||
| Q2 24 | 55.6% | 41.4% | ||
| Q1 24 | 55.2% | 40.9% |
营业利润率ABTGEHC
| Q4 25 | 19.6% | 14.5% | ||
| Q3 25 | 18.1% | 12.7% | ||
| Q2 25 | 18.4% | 13.1% | ||
| Q1 25 | 16.3% | 13.2% | ||
| Q4 24 | 17.4% | 15.1% | ||
| Q3 24 | 17.5% | 13.9% | ||
| Q2 24 | 16.1% | 12.6% | ||
| Q1 24 | 13.9% | 11.6% |
净利率ABTGEHC
| Q4 25 | 15.5% | 10.3% | ||
| Q3 25 | 14.5% | 8.7% | ||
| Q2 25 | 16.0% | 9.7% | ||
| Q1 25 | 12.8% | 11.8% | ||
| Q4 24 | 84.1% | 13.6% | ||
| Q3 24 | 15.5% | 9.7% | ||
| Q2 24 | 12.5% | 8.8% | ||
| Q1 24 | 12.3% | 8.0% |
每股收益（稀释后）ABTGEHC
| Q4 25 | $1.01 | $1.28 | ||
| Q3 25 | $0.94 | $0.98 | ||
| Q2 25 | $1.01 | $1.06 | ||
| Q1 25 | $0.76 | $1.23 | ||
| Q4 24 | $5.26 | $1.58 | ||
| Q3 24 | $0.94 | $1.02 | ||
| Q2 24 | $0.74 | $0.93 | ||
| Q1 24 | $0.70 | $0.81 |
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 | $8.9B | $4.5B |
| 总债务越低越好 | $12.9B | $10.0B |
| 股东权益账面价值 | $52.1B | $10.4B |
| 总资产 | $86.7B | $36.9B |
| 负债/权益比越低杠杆越低 | 0.25× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资ABTGEHC
| Q4 25 | $8.9B | $4.5B | ||
| Q3 25 | $7.7B | $4.0B | ||
| Q2 25 | $7.3B | $3.7B | ||
| Q1 25 | $6.8B | $2.5B | ||
| Q4 24 | $8.0B | $2.9B | ||
| Q3 24 | $7.8B | $3.5B | ||
| Q2 24 | $7.2B | $2.0B | ||
| Q1 24 | $6.7B | $2.6B |
总债务ABTGEHC
| Q4 25 | $12.9B | $10.0B | ||
| Q3 25 | — | $10.3B | ||
| Q2 25 | — | $10.3B | ||
| Q1 25 | — | $8.8B | ||
| Q4 24 | $14.1B | $9.0B | ||
| Q3 24 | — | $10.3B | ||
| Q2 24 | — | $9.2B | ||
| Q1 24 | — | $9.3B |
股东权益ABTGEHC
| Q4 25 | $52.1B | $10.4B | ||
| Q3 25 | $51.0B | $10.0B | ||
| Q2 25 | $50.6B | $9.7B | ||
| Q1 25 | $48.8B | $9.2B | ||
| Q4 24 | $47.7B | $8.4B | ||
| Q3 24 | $39.8B | $8.3B | ||
| Q2 24 | $39.3B | $7.8B | ||
| Q1 24 | $38.8B | $7.4B |
总资产ABTGEHC
| Q4 25 | $86.7B | $36.9B | ||
| Q3 25 | $84.2B | $36.1B | ||
| Q2 25 | $84.0B | $35.5B | ||
| Q1 25 | $81.4B | $33.6B | ||
| Q4 24 | $81.4B | $33.1B | ||
| Q3 24 | $74.4B | $33.9B | ||
| Q2 24 | $73.0B | $31.9B | ||
| Q1 24 | $72.5B | $32.2B |
负债/权益比ABTGEHC
| Q4 25 | 0.25× | 0.96× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 1.06× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | 0.30× | 1.06× | ||
| Q3 24 | — | 1.24× | ||
| Q2 24 | — | 1.18× | ||
| Q1 24 | — | 1.25× |
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 | $3.3B | — |
| 自由现金流经营现金流 - 资本支出 | $2.6B | — |
| 自由现金流率自由现金流/营收 | 22.9% | — |
| 资本支出强度资本支出/营收 | 6.0% | 2.4% |
| 现金转化率经营现金流/净利润 | 1.87× | — |
| 过去12个月自由现金流最近4个季度 | $7.4B | — |
8季度趋势，按日历期对齐
经营现金流ABTGEHC
| Q4 25 | $3.3B | — | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $2.0B | $94.0M | ||
| Q1 25 | $1.4B | $250.0M | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.0B | $-119.0M | ||
| Q1 24 | $1.0B | $419.0M |
自由现金流ABTGEHC
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $1.5B | $8.0M | ||
| Q1 25 | $933.0M | $98.0M | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $1.4B | $-183.0M | ||
| Q1 24 | $627.0M | $274.0M |
自由现金流率ABTGEHC
| Q4 25 | 22.9% | — | ||
| Q3 25 | 20.2% | — | ||
| Q2 25 | 13.9% | 0.2% | ||
| Q1 25 | 9.0% | 2.1% | ||
| Q4 24 | 19.6% | — | ||
| Q3 24 | 20.2% | — | ||
| Q2 24 | 13.8% | -3.8% | ||
| Q1 24 | 6.3% | 5.9% |
资本支出强度ABTGEHC
| Q4 25 | 6.0% | 2.4% | ||
| Q3 25 | 4.4% | 2.1% | ||
| Q2 25 | 4.5% | 1.7% | ||
| Q1 25 | 4.7% | 3.2% | ||
| Q4 24 | 6.6% | 1.9% | ||
| Q3 24 | 5.2% | 1.9% | ||
| Q2 24 | 5.1% | 1.3% | ||
| Q1 24 | 4.0% | 3.1% |
现金转化率ABTGEHC
| Q4 25 | 1.87× | — | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 1.15× | 0.19× | ||
| Q1 25 | 1.07× | 0.44× | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 1.64× | — | ||
| Q2 24 | 1.51× | -0.28× | ||
| Q1 24 | 0.84× | 1.12× |
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
ABT
暂无分部数据
GEHC
| Imaging Segment | $2.6B | 45% |
| PCS Segment | $824.0M | 14% |
| P Dx Segment | $790.0M | 14% |
| Specialized Ultrasound Subsegment | $735.0M | 13% |
| Monitoring Solutions Subsegment | $578.0M | 10% |
| Life Support Solutions Subsegment | $247.0M | 4% |
