vs
Arch Capital Group（ACGL）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
TENET HEALTHCARE CORP的季度营收约是Arch Capital Group的1.2倍（$5.5B vs $4.5B），Arch Capital Group净利率更高（23.2% vs 11.7%，领先11.5%），TENET HEALTHCARE CORP同比增速更快（9.0% vs -3.3%），过去两年Arch Capital Group的营收复合增速更高（3.4% vs 1.5%）
百慕大注册上市企业Arch Capital Group面向全球提供保险、再保险及按揭保险服务，专注于特种类保险业务，承保保险业内难度较高的特殊风险。公司总部位于百慕大，在北美、欧洲、亚洲及澳洲共设有60个办事处，实现全球布局运营。
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
ACGL vs THC — 直观对比
营收规模更大
THC
是对方的1.2倍
$4.5B
营收增速更快
THC
高出12.2%
-3.3%
净利率更高
ACGL
高出11.5%
11.7%
两年增速更快
ACGL
近两年复合增速
1.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.5B | $5.5B |
| 净利润 | $1.0B | $644.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 15.4% |
| 净利率 | 23.2% | 11.7% |
| 营收同比 | -3.3% | 9.0% |
| 净利润同比 | 82.4% | 12.6% |
| 每股收益（稀释后） | $2.88 | $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ACGLTHC
| Q1 26 | $4.5B | — | ||
| Q4 25 | $4.9B | $5.5B | ||
| Q3 25 | $5.1B | $5.3B | ||
| Q2 25 | $5.2B | $5.3B | ||
| Q1 25 | $4.7B | $5.2B | ||
| Q4 24 | $4.5B | $5.1B | ||
| Q3 24 | $4.7B | $5.1B | ||
| Q2 24 | $4.2B | $5.1B |
净利润ACGLTHC
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.2B | $644.0M | ||
| Q3 25 | $1.4B | $579.0M | ||
| Q2 25 | $1.2B | $522.0M | ||
| Q1 25 | $574.0M | $622.0M | ||
| Q4 24 | $935.0M | $572.0M | ||
| Q3 24 | $988.0M | $681.0M | ||
| Q2 24 | $1.3B | $477.0M |
营业利润率ACGLTHC
| Q1 26 | — | — | ||
| Q4 25 | — | 15.4% | ||
| Q3 25 | — | 16.8% | ||
| Q2 25 | — | 15.6% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | — | 16.2% | ||
| Q3 24 | — | 21.3% | ||
| Q2 24 | — | 14.9% |
净利率ACGLTHC
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.1% | 11.7% | ||
| Q3 25 | 26.4% | 10.9% | ||
| Q2 25 | 23.7% | 9.9% | ||
| Q1 25 | 12.3% | 11.9% | ||
| Q4 24 | 20.6% | 11.3% | ||
| Q3 24 | 20.9% | 13.3% | ||
| Q2 24 | 30.0% | 9.3% |
每股收益（稀释后）ACGLTHC
| Q1 26 | $2.88 | — | ||
| Q4 25 | $3.33 | $4.22 | ||
| Q3 25 | $3.56 | $3.86 | ||
| Q2 25 | $3.23 | $3.14 | ||
| Q1 25 | $1.48 | $4.27 | ||
| Q4 24 | $2.41 | $3.79 | ||
| Q3 24 | $2.56 | $4.89 | ||
| Q2 24 | $3.30 | $2.64 |
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 | $24.0M | $2.9B |
| 总债务越低越好 | — | $13.1B |
| 股东权益账面价值 | $24.2B | $4.2B |
| 总资产 | $81.4B | $29.7B |
| 负债/权益比越低杠杆越低 | — | 3.10× |
8季度趋势，按日历期对齐
现金及短期投资ACGLTHC
| Q1 26 | $24.0M | — | ||
| Q4 25 | $993.0M | $2.9B | ||
| Q3 25 | $1.1B | $3.0B | ||
| Q2 25 | $983.0M | $2.6B | ||
| Q1 25 | $1.2B | $3.0B | ||
| Q4 24 | $979.0M | $3.0B | ||
| Q3 24 | $1.0B | $4.1B | ||
| Q2 24 | $1.0B | $2.9B |
总债务ACGLTHC
| Q1 26 | — | — | ||
| Q4 25 | — | $13.1B | ||
| Q3 25 | — | $13.1B | ||
| Q2 25 | — | $13.1B | ||
| Q1 25 | — | $13.1B | ||
| Q4 24 | — | $13.1B | ||
| Q3 24 | — | $12.8B | ||
| Q2 24 | — | $12.8B |
股东权益ACGLTHC
| Q1 26 | $24.2B | — | ||
| Q4 25 | $24.2B | $4.2B | ||
| Q3 25 | $23.7B | $4.0B | ||
| Q2 25 | $23.0B | $3.7B | ||
| Q1 25 | $21.5B | $4.2B | ||
| Q4 24 | $20.8B | $4.2B | ||
| Q3 24 | $22.3B | $3.8B | ||
| Q2 24 | $20.7B | $3.5B |
总资产ACGLTHC
| Q1 26 | $81.4B | — | ||
| Q4 25 | $79.2B | $29.7B | ||
| Q3 25 | $79.2B | $29.4B | ||
| Q2 25 | $78.8B | $28.7B | ||
| Q1 25 | $75.2B | $29.2B | ||
| Q4 24 | $70.9B | $28.9B | ||
| Q3 24 | $73.7B | $29.4B | ||
| Q2 24 | $65.5B | $29.3B |
负债/权益比ACGLTHC
| Q1 26 | — | — | ||
| Q4 25 | — | 3.10× | ||
| Q3 25 | — | 3.26× | ||
| Q2 25 | — | 3.49× | ||
| Q1 25 | — | 3.13× | ||
| Q4 24 | — | 3.14× | ||
| Q3 24 | — | 3.33× | ||
| Q2 24 | — | 3.67× |
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 | $1.2B | $731.0M |
| 自由现金流经营现金流 - 资本支出 | — | $367.0M |
| 自由现金流率自由现金流/营收 | — | 6.6% |
| 资本支出强度资本支出/营收 | — | 6.6% |
| 现金转化率经营现金流/净利润 | 1.13× | 1.14× |
| 过去12个月自由现金流最近4个季度 | — | $2.5B |
8季度趋势，按日历期对齐
经营现金流ACGLTHC
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.4B | $731.0M | ||
| Q3 25 | $2.2B | $1.1B | ||
| Q2 25 | $1.1B | $936.0M | ||
| Q1 25 | $1.5B | $815.0M | ||
| Q4 24 | $1.6B | $-331.0M | ||
| Q3 24 | $2.0B | $1.0B | ||
| Q2 24 | $1.5B | $747.0M |
自由现金流ACGLTHC
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $367.0M | ||
| Q3 25 | $2.2B | $778.0M | ||
| Q2 25 | $1.1B | $743.0M | ||
| Q1 25 | $1.4B | $642.0M | ||
| Q4 24 | $1.6B | $-661.0M | ||
| Q3 24 | $2.0B | $829.0M | ||
| Q2 24 | $1.5B | $602.0M |
自由现金流率ACGLTHC
| Q1 26 | — | — | ||
| Q4 25 | 28.2% | 6.6% | ||
| Q3 25 | 42.6% | 14.7% | ||
| Q2 25 | 21.3% | 14.1% | ||
| Q1 25 | 31.0% | 12.3% | ||
| Q4 24 | 34.3% | -13.0% | ||
| Q3 24 | 42.5% | 16.2% | ||
| Q2 24 | 35.6% | 11.8% |
资本支出强度ACGLTHC
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 6.6% | ||
| Q3 25 | 0.2% | 5.3% | ||
| Q2 25 | 0.2% | 3.7% | ||
| Q1 25 | 0.2% | 3.3% | ||
| Q4 24 | 0.3% | 6.5% | ||
| Q3 24 | 0.3% | 4.2% | ||
| Q2 24 | 0.3% | 2.8% |
现金转化率ACGLTHC
| Q1 26 | 1.13× | — | ||
| Q4 25 | 1.13× | 1.14× | ||
| Q3 25 | 1.62× | 1.83× | ||
| Q2 25 | 0.91× | 1.79× | ||
| Q1 25 | 2.54× | 1.31× | ||
| Q4 24 | 1.68× | -0.58× | ||
| Q3 24 | 2.04× | 1.53× | ||
| Q2 24 | 1.20× | 1.57× |
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
ACGL
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% |
