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雅培（ABT）与Surgery Partners, Inc.（SGRY）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Surgery Partners, Inc.的12.9倍（$11.5B vs $885.0M）。雅培净利率更高（15.5% vs -1.7%，领先17.2%）。雅培同比增速更快（4.4% vs 2.4%）。雅培自由现金流更多（$2.6B vs $90.6M）。过去两年Surgery Partners, Inc.的营收复合增速更高（11.1% 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。
Surgery Partners, Inc.（NASDAQ代码：SGRY）旗下的United Surgical Partners International（USPI）是美国领先的日间手术护理服务商，总部位于得克萨斯州达拉斯，由唐·斯廷于1998年创立，专注于为患者提供便捷、高效的门诊外科医疗服务，运营多家合规手术中心，覆盖美国多地医疗需求场景。
ABT vs SGRY — 直观对比
营收规模更大
ABT
是对方的12.9倍
$885.0M
营收增速更快
ABT
高出2.0%
2.4%
净利率更高
ABT
高出17.2%
-1.7%
自由现金流更多
ABT
多$2.5B
$90.6M
两年增速更快
SGRY
近两年复合增速
7.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $11.5B | $885.0M |
| 净利润 | $1.8B | $-15.0M |
| 毛利率 | 57.0% | — |
| 营业利润率 | 19.6% | 12.5% |
| 净利率 | 15.5% | -1.7% |
| 营收同比 | 4.4% | 2.4% |
| 净利润同比 | -80.8% | 86.2% |
| 每股收益（稀释后） | $1.01 | $-0.11 |
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ABTSGRY
| Q4 25 | $11.5B | $885.0M | ||
| Q3 25 | $11.4B | $821.5M | ||
| Q2 25 | $11.1B | $826.2M | ||
| Q1 25 | $10.4B | $776.0M | ||
| Q4 24 | $11.0B | $864.4M | ||
| Q3 24 | $10.6B | $770.4M | ||
| Q2 24 | $10.4B | $762.1M | ||
| Q1 24 | $10.0B | $717.4M |
净利润ABTSGRY
| Q4 25 | $1.8B | $-15.0M | ||
| Q3 25 | $1.6B | $-22.7M | ||
| Q2 25 | $1.8B | $-2.5M | ||
| Q1 25 | $1.3B | $-37.7M | ||
| Q4 24 | $9.2B | $-108.5M | ||
| Q3 24 | $1.6B | $-31.7M | ||
| Q2 24 | $1.3B | $-15.5M | ||
| Q1 24 | $1.2B | $-12.4M |
毛利率ABTSGRY
| Q4 25 | 57.0% | — | ||
| Q3 25 | 55.4% | — | ||
| Q2 25 | 56.4% | — | ||
| Q1 25 | 56.9% | — | ||
| Q4 24 | 55.0% | — | ||
| Q3 24 | 55.8% | — | ||
| Q2 24 | 55.6% | — | ||
| Q1 24 | 55.2% | — |
营业利润率ABTSGRY
| Q4 25 | 19.6% | 12.5% | ||
| Q3 25 | 18.1% | 12.9% | ||
| Q2 25 | 18.4% | 13.5% | ||
| Q1 25 | 16.3% | 8.0% | ||
| Q4 24 | 17.4% | 14.7% | ||
| Q3 24 | 17.5% | 7.9% | ||
| Q2 24 | 16.1% | 11.1% | ||
| Q1 24 | 13.9% | 10.6% |
净利率ABTSGRY
| Q4 25 | 15.5% | -1.7% | ||
| Q3 25 | 14.5% | -2.8% | ||
| Q2 25 | 16.0% | -0.3% | ||
| Q1 25 | 12.8% | -4.9% | ||
| Q4 24 | 84.1% | -12.6% | ||
| Q3 24 | 15.5% | -4.1% | ||
| Q2 24 | 12.5% | -2.0% | ||
| Q1 24 | 12.3% | -1.7% |
每股收益（稀释后）ABTSGRY
| Q4 25 | $1.01 | $-0.11 | ||
| Q3 25 | $0.94 | $-0.18 | ||
| Q2 25 | $1.01 | $-0.02 | ||
| Q1 25 | $0.76 | $-0.30 | ||
| Q4 24 | $5.26 | $-0.86 | ||
| Q3 24 | $0.94 | $-0.25 | ||
| Q2 24 | $0.74 | $-0.12 | ||
| Q1 24 | $0.70 | $-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 | $8.9B | $239.9M |
| 总债务越低越好 | $12.9B | $3.6B |
| 股东权益账面价值 | $52.1B | $1.7B |
| 总资产 | $86.7B | $8.1B |
| 负债/权益比越低杠杆越低 | 0.25× | 2.10× |
8季度趋势，按日历期对齐
现金及短期投资ABTSGRY
| Q4 25 | $8.9B | $239.9M | ||
| Q3 25 | $7.7B | $203.4M | ||
| Q2 25 | $7.3B | $250.1M | ||
| Q1 25 | $6.8B | $229.3M | ||
| Q4 24 | $8.0B | $269.5M | ||
| Q3 24 | $7.8B | $221.8M | ||
| Q2 24 | $7.2B | $213.5M | ||
| Q1 24 | $6.7B | $185.2M |
总债务ABTSGRY
| Q4 25 | $12.9B | $3.6B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.5B | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | $14.1B | $3.3B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $2.8B |
股东权益ABTSGRY
| Q4 25 | $52.1B | $1.7B | ||
| Q3 25 | $51.0B | $1.7B | ||
| Q2 25 | $50.6B | $1.7B | ||
| Q1 25 | $48.8B | $1.7B | ||
| Q4 24 | $47.7B | $1.8B | ||
| Q3 24 | $39.8B | $1.9B | ||
| Q2 24 | $39.3B | $2.0B | ||
| Q1 24 | $38.8B | $2.0B |
总资产ABTSGRY
| Q4 25 | $86.7B | $8.1B | ||
| Q3 25 | $84.2B | $7.9B | ||
| Q2 25 | $84.0B | $8.0B | ||
| Q1 25 | $81.4B | $7.9B | ||
| Q4 24 | $81.4B | $7.9B | ||
| Q3 24 | $74.4B | $7.5B | ||
| Q2 24 | $73.0B | $7.5B | ||
| Q1 24 | $72.5B | $7.0B |
负债/权益比ABTSGRY
| Q4 25 | 0.25× | 2.10× | ||
| Q3 25 | — | 2.00× | ||
| Q2 25 | — | 1.98× | ||
| Q1 25 | — | 1.98× | ||
| Q4 24 | 0.30× | 1.83× | ||
| Q3 24 | — | 1.63× | ||
| Q2 24 | — | 1.56× | ||
| Q1 24 | — | 1.42× |
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 | $103.4M |
| 自由现金流经营现金流 - 资本支出 | $2.6B | $90.6M |
| 自由现金流率自由现金流/营收 | 22.9% | 10.2% |
| 资本支出强度资本支出/营收 | 6.0% | 1.4% |
| 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 | $195.6M |
8季度趋势，按日历期对齐
经营现金流ABTSGRY
| Q4 25 | $3.3B | $103.4M | ||
| Q3 25 | $2.8B | $83.6M | ||
| Q2 25 | $2.0B | $81.3M | ||
| Q1 25 | $1.4B | $6.0M | ||
| Q4 24 | $2.9B | $111.4M | ||
| Q3 24 | $2.7B | $65.2M | ||
| Q2 24 | $2.0B | $82.8M | ||
| Q1 24 | $1.0B | $40.7M |
自由现金流ABTSGRY
| Q4 25 | $2.6B | $90.6M | ||
| Q3 25 | $2.3B | $63.8M | ||
| Q2 25 | $1.5B | $57.9M | ||
| Q1 25 | $933.0M | $-16.7M | ||
| Q4 24 | $2.1B | $89.1M | ||
| Q3 24 | $2.1B | $45.0M | ||
| Q2 24 | $1.4B | $55.9M | ||
| Q1 24 | $627.0M | $19.7M |
自由现金流率ABTSGRY
| Q4 25 | 22.9% | 10.2% | ||
| Q3 25 | 20.2% | 7.8% | ||
| Q2 25 | 13.9% | 7.0% | ||
| Q1 25 | 9.0% | -2.2% | ||
| Q4 24 | 19.6% | 10.3% | ||
| Q3 24 | 20.2% | 5.8% | ||
| Q2 24 | 13.8% | 7.3% | ||
| Q1 24 | 6.3% | 2.7% |
资本支出强度ABTSGRY
| Q4 25 | 6.0% | 1.4% | ||
| Q3 25 | 4.4% | 2.4% | ||
| Q2 25 | 4.5% | 2.8% | ||
| Q1 25 | 4.7% | 2.9% | ||
| Q4 24 | 6.6% | 2.6% | ||
| Q3 24 | 5.2% | 2.6% | ||
| Q2 24 | 5.1% | 3.5% | ||
| Q1 24 | 4.0% | 2.9% |
现金转化率ABTSGRY
| Q4 25 | 1.87× | — | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 1.64× | — | ||
| Q2 24 | 1.51× | — | ||
| Q1 24 | 0.84× | — |
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
SGRY
| Private Insurance | $460.5M | 52% |
| Government Revenue | $368.6M | 42% |
| Other | $19.8M | 2% |
| Self Pay Revenue | $19.6M | 2% |
| Other Patient Service Revenue Sources | $16.5M | 2% |
