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Acadia Healthcare Company, Inc.（ACHC）与Dream Finders Homes, Inc.（DFH）财务数据对比。点击上方公司名可切换其他公司
Dream Finders Homes, Inc.的季度营收约是Acadia Healthcare Company, Inc.的1.5倍（$1.2B vs $829.0M），Dream Finders Homes, Inc.净利率更高（4.8% vs 0.5%，领先4.3%），Acadia Healthcare Company, Inc.同比增速更快（7.5% vs -22.3%），过去两年Dream Finders Homes, Inc.的营收复合增速更高（21.0% vs 2.0%）
阿卡迪亚医疗公司是美国的营利性行为医疗健康服务提供商，目前在美国及波多黎各地区运营着超过225家医疗机构，搭建了覆盖广泛的行为健康服务网络，为有相关需求的人群提供专业的心理健康与行为干预服务。
美国住宅建筑商Dream Finders Homes主要建造并销售独栋住宅、联排别墅等覆盖入门级到高端档次的居住物业，业务布局美国多个高速增长区域，同时为购房者提供按揭融资、产权保险、房屋保修等配套服务，覆盖各类客户群体。
ACHC vs DFH — 直观对比
营收规模更大
DFH
是对方的1.5倍
$829.0M
营收增速更快
ACHC
高出29.8%
-22.3%
净利率更高
DFH
高出4.3%
0.5%
两年增速更快
DFH
近两年复合增速
2.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $829.0M | $1.2B |
| 净利润 | $4.5M | $58.8M |
| 毛利率 | — | — |
| 营业利润率 | — | 6.4% |
| 净利率 | 0.5% | 4.8% |
| 营收同比 | 7.5% | -22.3% |
| 净利润同比 | -50.8% | -54.9% |
| 每股收益（稀释后） | $0.05 | $0.57 |
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ACHCDFH
| Q1 26 | $829.0M | — | ||
| Q4 25 | $821.5M | $1.2B | ||
| Q3 25 | $851.6M | $969.8M | ||
| Q2 25 | $869.2M | $1.2B | ||
| Q1 25 | $770.5M | $989.9M | ||
| Q4 24 | $774.2M | $1.6B | ||
| Q3 24 | $815.6M | $1.0B | ||
| Q2 24 | $796.0M | $1.1B |
净利润ACHCDFH
| Q1 26 | $4.5M | — | ||
| Q4 25 | $-1.2B | $58.8M | ||
| Q3 25 | $36.2M | $47.0M | ||
| Q2 25 | $30.1M | $56.6M | ||
| Q1 25 | $8.4M | $54.9M | ||
| Q4 24 | $32.6M | $130.5M | ||
| Q3 24 | $68.1M | $70.7M | ||
| Q2 24 | $78.5M | $80.9M |
毛利率ACHCDFH
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 19.2% |
营业利润率ACHCDFH
| Q1 26 | — | — | ||
| Q4 25 | -142.4% | 6.4% | ||
| Q3 25 | 4.7% | 6.3% | ||
| Q2 25 | 5.8% | 6.4% | ||
| Q1 25 | 1.7% | 7.2% | ||
| Q4 24 | 4.9% | 10.8% | ||
| Q3 24 | 12.1% | 9.2% | ||
| Q2 24 | 13.4% | 10.0% |
净利率ACHCDFH
| Q1 26 | 0.5% | — | ||
| Q4 25 | -143.3% | 4.8% | ||
| Q3 25 | 4.3% | 4.8% | ||
| Q2 25 | 3.5% | 4.9% | ||
| Q1 25 | 1.1% | 5.5% | ||
| Q4 24 | 4.2% | 8.4% | ||
| Q3 24 | 8.4% | 7.0% | ||
| Q2 24 | 9.9% | 7.7% |
每股收益（稀释后）ACHCDFH
| Q1 26 | $0.05 | — | ||
| Q4 25 | $-12.98 | $0.57 | ||
| Q3 25 | $0.40 | $0.47 | ||
| Q2 25 | $0.33 | $0.56 | ||
| Q1 25 | $0.09 | $0.54 | ||
| Q4 24 | $0.36 | $1.28 | ||
| Q3 24 | $0.74 | $0.70 | ||
| Q2 24 | $0.85 | $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 | $158.5M | $234.8M |
| 总债务越低越好 | $2.5B | $1.6B |
| 股东权益账面价值 | $2.0B | $1.4B |
| 总资产 | $5.5B | $3.7B |
| 负债/权益比越低杠杆越低 | 1.29× | 1.13× |
8季度趋势，按日历期对齐
现金及短期投资ACHCDFH
| Q1 26 | $158.5M | — | ||
| Q4 25 | $133.2M | $234.8M | ||
| Q3 25 | $118.7M | $251.0M | ||
| Q2 25 | $131.4M | $210.3M | ||
| Q1 25 | $91.2M | $297.5M | ||
| Q4 24 | $76.3M | $274.4M | ||
| Q3 24 | $82.1M | $204.9M | ||
| Q2 24 | $77.2M | $274.8M |
总债务ACHCDFH
| Q1 26 | $2.5B | — | ||
| Q4 25 | $2.5B | $1.6B | ||
| Q3 25 | $2.3B | $1.8B | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.0B | $1.3B | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.8B | — |
股东权益ACHCDFH
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | $3.1B | $1.4B | ||
| Q2 25 | $3.1B | $1.3B | ||
| Q1 25 | $3.0B | $1.3B | ||
| Q4 24 | $3.1B | $1.2B | ||
| Q3 24 | $3.0B | $1.1B | ||
| Q2 24 | $3.0B | $1.0B |
总资产ACHCDFH
| Q1 26 | $5.5B | — | ||
| Q4 25 | $5.5B | $3.7B | ||
| Q3 25 | $6.4B | $3.8B | ||
| Q2 25 | $6.3B | $3.7B | ||
| Q1 25 | $6.1B | $3.5B | ||
| Q4 24 | $6.0B | $3.3B | ||
| Q3 24 | $5.9B | $3.3B | ||
| Q2 24 | $5.7B | $3.0B |
负债/权益比ACHCDFH
| Q1 26 | 1.29× | — | ||
| Q4 25 | 1.28× | 1.13× | ||
| Q3 25 | 0.74× | 1.29× | ||
| Q2 25 | 0.74× | — | ||
| Q1 25 | 0.72× | — | ||
| Q4 24 | 0.64× | 1.03× | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.62× | — |
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 | $61.5M | $143.6M |
| 自由现金流经营现金流 - 资本支出 | — | $136.0M |
| 自由现金流率自由现金流/营收 | — | 11.2% |
| 资本支出强度资本支出/营收 | — | 0.6% |
| 现金转化率经营现金流/净利润 | 13.78× | 2.44× |
| 过去12个月自由现金流最近4个季度 | — | $-126.4M |
8季度趋势，按日历期对齐
经营现金流ACHCDFH
| Q1 26 | $61.5M | — | ||
| Q4 25 | $-86.3M | $143.6M | ||
| Q3 25 | $73.2M | $-131.0M | ||
| Q2 25 | $133.5M | $-68.5M | ||
| Q1 25 | $11.5M | $-44.7M | ||
| Q4 24 | $116.7M | $306.5M | ||
| Q3 24 | $163.1M | $-205.0M | ||
| Q2 24 | $171.1M | $-110.6M |
自由现金流ACHCDFH
| Q1 26 | — | — | ||
| Q4 25 | $-179.5M | $136.0M | ||
| Q3 25 | $-63.0M | $-135.7M | ||
| Q2 25 | $-34.2M | $-78.8M | ||
| Q1 25 | $-163.2M | $-47.9M | ||
| Q4 24 | $-86.8M | $302.6M | ||
| Q3 24 | $-27.1M | $-222.5M | ||
| Q2 24 | $16.9M | $-112.4M |
自由现金流率ACHCDFH
| Q1 26 | — | — | ||
| Q4 25 | -21.8% | 11.2% | ||
| Q3 25 | -7.4% | -14.0% | ||
| Q2 25 | -3.9% | -6.8% | ||
| Q1 25 | -21.2% | -4.8% | ||
| Q4 24 | -11.2% | 19.4% | ||
| Q3 24 | -3.3% | -22.1% | ||
| Q2 24 | 2.1% | -10.6% |
资本支出强度ACHCDFH
| Q1 26 | — | — | ||
| Q4 25 | 11.3% | 0.6% | ||
| Q3 25 | 16.0% | 0.5% | ||
| Q2 25 | 19.3% | 0.9% | ||
| Q1 25 | 22.7% | 0.3% | ||
| Q4 24 | 26.3% | 0.3% | ||
| Q3 24 | 23.3% | 1.7% | ||
| Q2 24 | 19.4% | 0.2% |
现金转化率ACHCDFH
| Q1 26 | 13.78× | — | ||
| Q4 25 | — | 2.44× | ||
| Q3 25 | 2.02× | -2.79× | ||
| Q2 25 | 4.43× | -1.21× | ||
| Q1 25 | 1.37× | -0.81× | ||
| Q4 24 | 3.58× | 2.35× | ||
| Q3 24 | 2.39× | -2.90× | ||
| Q2 24 | 2.18× | -1.37× |
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
ACHC
| Acute Inpatient Psychiatric Facilities | $471.0M | 57% |
| Other | $140.0M | 17% |
| Specialty Treatment Facilities | $128.0M | 15% |
| Residential Treatment Facilities | $90.0M | 11% |
DFH
| Midwest Segment | $454.2M | 37% |
| Southeast Segment | $397.5M | 33% |
| Mid Atlantic Segment | $307.3M | 25% |
| Financial Services Segment | $53.7M | 4% |
