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Acadia Healthcare Company, Inc.（ACHC）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
思佳讯的季度营收约是Acadia Healthcare Company, Inc.的1.3倍（$1.0B vs $821.5M），思佳讯净利率更高（7.6% vs -143.3%，领先151.0%），思佳讯同比增速更快（8.6% vs 6.1%），思佳讯自由现金流更多（$339.0M vs $-179.5M），过去两年Acadia Healthcare Company, Inc.的营收复合增速更高（3.4% vs -0.5%）
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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
ACHC vs SWKS — 直观对比
营收规模更大
SWKS
是对方的1.3倍
$821.5M
营收增速更快
SWKS
高出2.5%
6.1%
净利率更高
SWKS
高出151.0%
-143.3%
自由现金流更多
SWKS
多$518.5M
$-179.5M
两年增速更快
ACHC
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $821.5M | $1.0B |
| 净利润 | $-1.2B | $79.2M |
| 毛利率 | — | 41.3% |
| 营业利润率 | -142.4% | 10.0% |
| 净利率 | -143.3% | 7.6% |
| 营收同比 | 6.1% | 8.6% |
| 净利润同比 | -3710.4% | 15.3% |
| 每股收益（稀释后） | $-12.98 | $0.53 |
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ACHCSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $821.5M | $1.1B | ||
| Q3 25 | $851.6M | — | ||
| Q2 25 | $869.2M | $965.0M | ||
| Q1 25 | $770.5M | $953.2M | ||
| Q4 24 | $774.2M | $1.1B | ||
| Q3 24 | $815.6M | $1.0B | ||
| Q2 24 | $796.0M | $905.5M |
净利润ACHCSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $-1.2B | $141.4M | ||
| Q3 25 | $36.2M | — | ||
| Q2 25 | $30.1M | $105.0M | ||
| Q1 25 | $8.4M | $68.7M | ||
| Q4 24 | $32.6M | $162.0M | ||
| Q3 24 | $68.1M | $60.5M | ||
| Q2 24 | $78.5M | $120.9M |
毛利率ACHCSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | — | 40.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 41.6% | ||
| Q1 25 | — | 41.1% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 41.9% | ||
| Q2 24 | — | 40.2% |
营业利润率ACHCSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | -142.4% | 10.1% | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 5.8% | 11.5% | ||
| Q1 25 | 1.7% | 10.2% | ||
| Q4 24 | 4.9% | 16.9% | ||
| Q3 24 | 12.1% | 5.8% | ||
| Q2 24 | 13.4% | 14.4% |
净利率ACHCSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | -143.3% | 12.9% | ||
| Q3 25 | 4.3% | — | ||
| Q2 25 | 3.5% | 10.9% | ||
| Q1 25 | 1.1% | 7.2% | ||
| Q4 24 | 4.2% | 15.2% | ||
| Q3 24 | 8.4% | 5.9% | ||
| Q2 24 | 9.9% | 13.4% |
每股收益（稀释后）ACHCSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $-12.98 | $0.95 | ||
| Q3 25 | $0.40 | — | ||
| Q2 25 | $0.33 | $0.70 | ||
| Q1 25 | $0.09 | $0.43 | ||
| Q4 24 | $0.36 | $1.00 | ||
| Q3 24 | $0.74 | $0.36 | ||
| Q2 24 | $0.85 | $0.75 |
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 | $133.2M | $1.6B |
| 总债务越低越好 | $2.5B | $496.6M |
| 股东权益账面价值 | $1.9B | $5.8B |
| 总资产 | $5.5B | $7.9B |
| 负债/权益比越低杠杆越低 | 1.28× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资ACHCSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $133.2M | $1.4B | ||
| Q3 25 | $118.7M | — | ||
| Q2 25 | $131.4M | $1.3B | ||
| Q1 25 | $91.2M | $1.5B | ||
| Q4 24 | $76.3M | $1.7B | ||
| Q3 24 | $82.1M | $1.6B | ||
| Q2 24 | $77.2M | $1.3B |
总债务ACHCSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | $2.5B | $496.4M | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.3B | $496.2M | ||
| Q1 25 | $2.2B | $995.1M | ||
| Q4 24 | $2.0B | $994.7M | ||
| Q3 24 | $1.9B | $994.3M | ||
| Q2 24 | $1.8B | $994.0M |
股东权益ACHCSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $1.9B | $5.8B | ||
| Q3 25 | $3.1B | — | ||
| Q2 25 | $3.1B | $5.7B | ||
| Q1 25 | $3.0B | $5.9B | ||
| Q4 24 | $3.1B | $6.4B | ||
| Q3 24 | $3.0B | $6.3B | ||
| Q2 24 | $3.0B | $6.3B |
总资产ACHCSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $5.5B | $7.9B | ||
| Q3 25 | $6.4B | — | ||
| Q2 25 | $6.3B | $7.7B | ||
| Q1 25 | $6.1B | $7.9B | ||
| Q4 24 | $6.0B | $8.3B | ||
| Q3 24 | $5.9B | $8.3B | ||
| Q2 24 | $5.7B | $8.2B |
负债/权益比ACHCSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | 1.28× | 0.09× | ||
| Q3 25 | 0.74× | — | ||
| Q2 25 | 0.74× | 0.09× | ||
| Q1 25 | 0.72× | 0.17× | ||
| Q4 24 | 0.64× | 0.16× | ||
| Q3 24 | 0.62× | 0.16× | ||
| Q2 24 | 0.62× | 0.16× |
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 | $-86.3M | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $-179.5M | $339.0M |
| 自由现金流率自由现金流/营收 | -21.8% | 32.7% |
| 资本支出强度资本支出/营收 | 11.3% | 5.5% |
| 现金转化率经营现金流/净利润 | — | 4.99× |
| 过去12个月自由现金流最近4个季度 | $-439.9M | $1.1B |
8季度趋势，按日历期对齐
经营现金流ACHCSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $-86.3M | $200.0M | ||
| Q3 25 | $73.2M | — | ||
| Q2 25 | $133.5M | $314.2M | ||
| Q1 25 | $11.5M | $409.4M | ||
| Q4 24 | $116.7M | $377.2M | ||
| Q3 24 | $163.1M | $476.1M | ||
| Q2 24 | $171.1M | $273.4M |
自由现金流ACHCSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $-179.5M | $144.0M | ||
| Q3 25 | $-63.0M | — | ||
| Q2 25 | $-34.2M | $252.7M | ||
| Q1 25 | $-163.2M | $370.9M | ||
| Q4 24 | $-86.8M | $338.2M | ||
| Q3 24 | $-27.1M | $393.3M | ||
| Q2 24 | $16.9M | $249.0M |
自由现金流率ACHCSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | -21.8% | 13.1% | ||
| Q3 25 | -7.4% | — | ||
| Q2 25 | -3.9% | 26.2% | ||
| Q1 25 | -21.2% | 38.9% | ||
| Q4 24 | -11.2% | 31.7% | ||
| Q3 24 | -3.3% | 38.4% | ||
| Q2 24 | 2.1% | 27.5% |
资本支出强度ACHCSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 11.3% | 5.1% | ||
| Q3 25 | 16.0% | — | ||
| Q2 25 | 19.3% | 6.4% | ||
| Q1 25 | 22.7% | 4.0% | ||
| Q4 24 | 26.3% | 3.6% | ||
| Q3 24 | 23.3% | 8.1% | ||
| Q2 24 | 19.4% | 2.7% |
现金转化率ACHCSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | — | 1.41× | ||
| Q3 25 | 2.02× | — | ||
| Q2 25 | 4.43× | 2.99× | ||
| Q1 25 | 1.37× | 5.96× | ||
| Q4 24 | 3.58× | 2.33× | ||
| Q3 24 | 2.39× | 7.87× | ||
| Q2 24 | 2.18× | 2.26× |
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 | $451.2M | 55% |
| Comprehensive Treatment Centers | $144.2M | 18% |
| Medicare | $113.7M | 14% |
| Residential Treatment Centers | $89.7M | 11% |
| Self Payor | $16.1M | 2% |
| Other Payor | $10.7M | 1% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
