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雅培（ABT）与TENET HEALTHCARE CORP（THC）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TENET HEALTHCARE CORP的2.1倍（$11.5B vs $5.5B）。雅培净利率更高（15.5% vs 11.7%，领先3.8%）。TENET HEALTHCARE CORP同比增速更快（9.0% vs 4.4%）。雅培自由现金流更多（$2.6B vs $367.0M）。过去两年雅培的营收复合增速更高（7.2% vs 1.5%）
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。
Tenet Healthcare Corporation是总部位于美国达拉斯的营利性跨国医疗服务企业，旗下拥有USPI等多个品牌、子公司、合资企业及合作主体，运营65家医院及超过450个医疗设施，还通过旗下Conifer Health Solutions为各类医疗系统及其他客户提供专业医疗支持服务
ABT vs THC — 直观对比
营收规模更大
ABT
是对方的2.1倍
$5.5B
营收增速更快
THC
高出4.6%
4.4%
净利率更高
ABT
高出3.8%
11.7%
自由现金流更多
ABT
多$2.3B
$367.0M
两年增速更快
ABT
近两年复合增速
1.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $11.5B | $5.5B |
| 净利润 | $1.8B | $644.0M |
| 毛利率 | 57.0% | — |
| 营业利润率 | 19.6% | 15.4% |
| 净利率 | 15.5% | 11.7% |
| 营收同比 | 4.4% | 9.0% |
| 净利润同比 | -80.8% | 12.6% |
| 每股收益（稀释后） | $1.01 | $4.22 |
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ABTTHC
| Q4 25 | $11.5B | $5.5B | ||
| Q3 25 | $11.4B | $5.3B | ||
| Q2 25 | $11.1B | $5.3B | ||
| Q1 25 | $10.4B | $5.2B | ||
| Q4 24 | $11.0B | $5.1B | ||
| Q3 24 | $10.6B | $5.1B | ||
| Q2 24 | $10.4B | $5.1B | ||
| Q1 24 | $10.0B | $5.4B |
净利润ABTTHC
| Q4 25 | $1.8B | $644.0M | ||
| Q3 25 | $1.6B | $579.0M | ||
| Q2 25 | $1.8B | $522.0M | ||
| Q1 25 | $1.3B | $622.0M | ||
| Q4 24 | $9.2B | $572.0M | ||
| Q3 24 | $1.6B | $681.0M | ||
| Q2 24 | $1.3B | $477.0M | ||
| Q1 24 | $1.2B | $2.3B |
毛利率ABTTHC
| 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ABTTHC
| Q4 25 | 19.6% | 15.4% | ||
| Q3 25 | 18.1% | 16.8% | ||
| Q2 25 | 18.4% | 15.6% | ||
| Q1 25 | 16.3% | 18.1% | ||
| Q4 24 | 17.4% | 16.2% | ||
| Q3 24 | 17.5% | 21.3% | ||
| Q2 24 | 16.1% | 14.9% | ||
| Q1 24 | 13.9% | 61.2% |
净利率ABTTHC
| Q4 25 | 15.5% | 11.7% | ||
| Q3 25 | 14.5% | 10.9% | ||
| Q2 25 | 16.0% | 9.9% | ||
| Q1 25 | 12.8% | 11.9% | ||
| Q4 24 | 84.1% | 11.3% | ||
| Q3 24 | 15.5% | 13.3% | ||
| Q2 24 | 12.5% | 9.3% | ||
| Q1 24 | 12.3% | 43.5% |
每股收益（稀释后）ABTTHC
| Q4 25 | $1.01 | $4.22 | ||
| Q3 25 | $0.94 | $3.86 | ||
| Q2 25 | $1.01 | $3.14 | ||
| Q1 25 | $0.76 | $4.27 | ||
| Q4 24 | $5.26 | $3.79 | ||
| Q3 24 | $0.94 | $4.89 | ||
| Q2 24 | $0.74 | $2.64 | ||
| Q1 24 | $0.70 | $21.38 |
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 | $2.9B |
| 总债务越低越好 | $12.9B | $13.1B |
| 股东权益账面价值 | $52.1B | $4.2B |
| 总资产 | $86.7B | $29.7B |
| 负债/权益比越低杠杆越低 | 0.25× | 3.10× |
8季度趋势，按日历期对齐
现金及短期投资ABTTHC
| Q4 25 | $8.9B | $2.9B | ||
| Q3 25 | $7.7B | $3.0B | ||
| Q2 25 | $7.3B | $2.6B | ||
| Q1 25 | $6.8B | $3.0B | ||
| Q4 24 | $8.0B | $3.0B | ||
| Q3 24 | $7.8B | $4.1B | ||
| Q2 24 | $7.2B | $2.9B | ||
| Q1 24 | $6.7B | $2.5B |
总债务ABTTHC
| Q4 25 | $12.9B | $13.1B | ||
| Q3 25 | — | $13.1B | ||
| Q2 25 | — | $13.1B | ||
| Q1 25 | — | $13.1B | ||
| Q4 24 | $14.1B | $13.1B | ||
| Q3 24 | — | $12.8B | ||
| Q2 24 | — | $12.8B | ||
| Q1 24 | — | $12.8B |
股东权益ABTTHC
| Q4 25 | $52.1B | $4.2B | ||
| Q3 25 | $51.0B | $4.0B | ||
| Q2 25 | $50.6B | $3.7B | ||
| Q1 25 | $48.8B | $4.2B | ||
| Q4 24 | $47.7B | $4.2B | ||
| Q3 24 | $39.8B | $3.8B | ||
| Q2 24 | $39.3B | $3.5B | ||
| Q1 24 | $38.8B | $3.5B |
总资产ABTTHC
| Q4 25 | $86.7B | $29.7B | ||
| Q3 25 | $84.2B | $29.4B | ||
| Q2 25 | $84.0B | $28.7B | ||
| Q1 25 | $81.4B | $29.2B | ||
| Q4 24 | $81.4B | $28.9B | ||
| Q3 24 | $74.4B | $29.4B | ||
| Q2 24 | $73.0B | $29.3B | ||
| Q1 24 | $72.5B | $28.9B |
负债/权益比ABTTHC
| Q4 25 | 0.25× | 3.10× | ||
| Q3 25 | — | 3.26× | ||
| Q2 25 | — | 3.49× | ||
| Q1 25 | — | 3.13× | ||
| Q4 24 | 0.30× | 3.14× | ||
| Q3 24 | — | 3.33× | ||
| Q2 24 | — | 3.67× | ||
| Q1 24 | — | 3.70× |
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 | $731.0M |
| 自由现金流经营现金流 - 资本支出 | $2.6B | $367.0M |
| 自由现金流率自由现金流/营收 | 22.9% | 6.6% |
| 资本支出强度资本支出/营收 | 6.0% | 6.6% |
| 现金转化率经营现金流/净利润 | 1.87× | 1.14× |
| 过去12个月自由现金流最近4个季度 | $7.4B | $2.5B |
8季度趋势，按日历期对齐
经营现金流ABTTHC
| Q4 25 | $3.3B | $731.0M | ||
| Q3 25 | $2.8B | $1.1B | ||
| Q2 25 | $2.0B | $936.0M | ||
| Q1 25 | $1.4B | $815.0M | ||
| Q4 24 | $2.9B | $-331.0M | ||
| Q3 24 | $2.7B | $1.0B | ||
| Q2 24 | $2.0B | $747.0M | ||
| Q1 24 | $1.0B | $586.0M |
自由现金流ABTTHC
| Q4 25 | $2.6B | $367.0M | ||
| Q3 25 | $2.3B | $778.0M | ||
| Q2 25 | $1.5B | $743.0M | ||
| Q1 25 | $933.0M | $642.0M | ||
| Q4 24 | $2.1B | $-661.0M | ||
| Q3 24 | $2.1B | $829.0M | ||
| Q2 24 | $1.4B | $602.0M | ||
| Q1 24 | $627.0M | $346.0M |
自由现金流率ABTTHC
| Q4 25 | 22.9% | 6.6% | ||
| Q3 25 | 20.2% | 14.7% | ||
| Q2 25 | 13.9% | 14.1% | ||
| Q1 25 | 9.0% | 12.3% | ||
| Q4 24 | 19.6% | -13.0% | ||
| Q3 24 | 20.2% | 16.2% | ||
| Q2 24 | 13.8% | 11.8% | ||
| Q1 24 | 6.3% | 6.4% |
资本支出强度ABTTHC
| Q4 25 | 6.0% | 6.6% | ||
| Q3 25 | 4.4% | 5.3% | ||
| Q2 25 | 4.5% | 3.7% | ||
| Q1 25 | 4.7% | 3.3% | ||
| Q4 24 | 6.6% | 6.5% | ||
| Q3 24 | 5.2% | 4.2% | ||
| Q2 24 | 5.1% | 2.8% | ||
| Q1 24 | 4.0% | 4.5% |
现金转化率ABTTHC
| Q4 25 | 1.87× | 1.14× | ||
| Q3 25 | 1.70× | 1.83× | ||
| Q2 25 | 1.15× | 1.79× | ||
| Q1 25 | 1.07× | 1.31× | ||
| Q4 24 | 0.31× | -0.58× | ||
| Q3 24 | 1.64× | 1.53× | ||
| Q2 24 | 1.51× | 1.57× | ||
| Q1 24 | 0.84× | 0.25× |
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
THC
| Other | $2.9B | 52% |
| Health Care Patient Service | $1.4B | 25% |
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.2B | 22% |
| Health Care Other Sources | $56.0M | 1% |
