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Enact Holdings, Inc.（ACT）与U S PHYSICAL THERAPY INC（USPH）财务数据对比。点击上方公司名可切换其他公司
Enact Holdings, Inc.的季度营收约是U S PHYSICAL THERAPY INC的1.5倍（$312.1M vs $202.7M），Enact Holdings, Inc.净利率更高（53.8% vs 2.0%，领先51.8%），U S PHYSICAL THERAPY INC同比增速更快（12.3% vs 1.7%），过去两年U S PHYSICAL THERAPY INC的营收复合增速更高（14.1% vs 2.2%）
Enact Holdings, Inc.是美国领先的私人抵押贷款保险服务商，为银行、信用社等各类住宅抵押贷款机构提供风险缓释解决方案，帮助首付较低的购房者获得可负担的住房贷款，助力更多美国普通消费者实现安居需求。
该企业是美国领先的门诊康复服务提供商，运营数百间线下物理治疗门诊，为受伤、术后、慢性疼痛及行动障碍人群提供康复护理，同时覆盖运动医学、职业治疗、儿童康复等特色服务领域。
ACT vs USPH — 直观对比
营收规模更大
ACT
是对方的1.5倍
$202.7M
营收增速更快
USPH
高出10.6%
1.7%
净利率更高
ACT
高出51.8%
2.0%
两年增速更快
USPH
近两年复合增速
2.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $312.1M | $202.7M |
| 净利润 | $168.0M | $4.2M |
| 毛利率 | — | 19.8% |
| 营业利润率 | — | 8.3% |
| 净利率 | 53.8% | 2.0% |
| 营收同比 | 1.7% | 12.3% |
| 净利润同比 | 1.2% | -55.1% |
| 每股收益（稀释后） | $1.18 | $-0.44 |
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ACTUSPH
| Q1 26 | $312.1M | — | ||
| Q4 25 | $312.7M | $202.7M | ||
| Q3 25 | $311.5M | $197.1M | ||
| Q2 25 | $304.9M | $197.3M | ||
| Q1 25 | $306.8M | $183.8M | ||
| Q4 24 | $301.8M | $180.4M | ||
| Q3 24 | $309.6M | $168.0M | ||
| Q2 24 | $298.8M | $167.2M |
净利润ACTUSPH
| Q1 26 | $168.0M | — | ||
| Q4 25 | — | $4.2M | ||
| Q3 25 | — | $13.1M | ||
| Q2 25 | — | $12.4M | ||
| Q1 25 | — | $9.9M | ||
| Q4 24 | — | $9.2M | ||
| Q3 24 | — | $6.6M | ||
| Q2 24 | — | $7.5M |
毛利率ACTUSPH
| Q1 26 | — | — | ||
| Q4 25 | — | 19.8% | ||
| Q3 25 | — | 18.7% | ||
| Q2 25 | — | 21.1% | ||
| Q1 25 | — | 16.9% | ||
| Q4 24 | — | 18.0% | ||
| Q3 24 | — | 17.3% | ||
| Q2 24 | — | 20.3% |
营业利润率ACTUSPH
| Q1 26 | — | — | ||
| Q4 25 | 71.3% | 8.3% | ||
| Q3 25 | 67.4% | 12.8% | ||
| Q2 25 | 70.4% | 12.6% | ||
| Q1 25 | 68.9% | 10.7% | ||
| Q4 24 | 68.9% | 10.9% | ||
| Q3 24 | 74.1% | 7.6% | ||
| Q2 24 | 78.6% | 9.3% |
净利率ACTUSPH
| Q1 26 | 53.8% | — | ||
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 5.4% | ||
| Q4 24 | — | 5.1% | ||
| Q3 24 | — | 3.9% | ||
| Q2 24 | — | 4.5% |
每股收益（稀释后）ACTUSPH
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.23 | $-0.44 | ||
| Q3 25 | $1.10 | $0.48 | ||
| Q2 25 | $1.11 | $0.58 | ||
| Q1 25 | $1.08 | $0.80 | ||
| Q4 24 | $1.05 | $0.52 | ||
| Q3 24 | $1.15 | $0.39 | ||
| Q2 24 | $1.16 | $0.47 |
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 | $549.0M | $35.6M |
| 总债务越低越好 | $744.9M | — |
| 股东权益账面价值 | $5.3B | $476.4M |
| 总资产 | $7.0B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.14× | — |
8季度趋势，按日历期对齐
现金及短期投资ACTUSPH
| Q1 26 | $549.0M | — | ||
| Q4 25 | $582.5M | $35.6M | ||
| Q3 25 | $545.6M | $31.1M | ||
| Q2 25 | $616.0M | $34.1M | ||
| Q1 25 | $639.0M | $39.2M | ||
| Q4 24 | $602.8M | $41.4M | ||
| Q3 24 | $674.9M | $117.0M | ||
| Q2 24 | $711.3M | $112.9M |
总债务ACTUSPH
| Q1 26 | $744.9M | — | ||
| Q4 25 | $744.5M | — | ||
| Q3 25 | $744.1M | — | ||
| Q2 25 | $743.8M | — | ||
| Q1 25 | $743.4M | — | ||
| Q4 24 | $743.0M | — | ||
| Q3 24 | $742.7M | — | ||
| Q2 24 | $742.4M | — |
股东权益ACTUSPH
| Q1 26 | $5.3B | — | ||
| Q4 25 | $5.4B | $476.4M | ||
| Q3 25 | $5.3B | $503.6M | ||
| Q2 25 | $5.2B | $500.8M | ||
| Q1 25 | $5.1B | $497.3M | ||
| Q4 24 | $5.0B | $488.9M | ||
| Q3 24 | $5.0B | $482.8M | ||
| Q2 24 | $4.8B | $484.6M |
总资产ACTUSPH
| Q1 26 | $7.0B | — | ||
| Q4 25 | $6.9B | $1.2B | ||
| Q3 25 | $6.9B | $1.2B | ||
| Q2 25 | $6.8B | $1.2B | ||
| Q1 25 | $6.7B | $1.2B | ||
| Q4 24 | $6.5B | $1.2B | ||
| Q3 24 | $6.6B | $1.0B | ||
| Q2 24 | $6.3B | $1.0B |
负债/权益比ACTUSPH
| Q1 26 | 0.14× | — | ||
| Q4 25 | 0.14× | — | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | 0.14× | — | ||
| Q1 25 | 0.15× | — | ||
| Q4 24 | 0.15× | — | ||
| Q3 24 | 0.15× | — | ||
| Q2 24 | 0.15× | — |
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 | — | $24.9M |
| 自由现金流经营现金流 - 资本支出 | — | $21.0M |
| 自由现金流率自由现金流/营收 | — | 10.4% |
| 资本支出强度资本支出/营收 | — | 1.9% |
| 现金转化率经营现金流/净利润 | — | 6.00× |
| 过去12个月自由现金流最近4个季度 | — | $61.0M |
8季度趋势，按日历期对齐
经营现金流ACTUSPH
| Q1 26 | — | — | ||
| Q4 25 | $724.5M | $24.9M | ||
| Q3 25 | $192.0M | $19.9M | ||
| Q2 25 | $119.5M | $34.9M | ||
| Q1 25 | $226.7M | $-4.7M | ||
| Q4 24 | $686.3M | $19.4M | ||
| Q3 24 | $188.1M | $22.1M | ||
| Q2 24 | $144.7M | $29.0M |
自由现金流ACTUSPH
| Q1 26 | — | — | ||
| Q4 25 | — | $21.0M | ||
| Q3 25 | — | $15.6M | ||
| Q2 25 | — | $31.6M | ||
| Q1 25 | — | $-7.3M | ||
| Q4 24 | — | $16.9M | ||
| Q3 24 | — | $19.6M | ||
| Q2 24 | — | $26.7M |
自由现金流率ACTUSPH
| Q1 26 | — | — | ||
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | 7.9% | ||
| Q2 25 | — | 16.0% | ||
| Q1 25 | — | -3.9% | ||
| Q4 24 | — | 9.4% | ||
| Q3 24 | — | 11.7% | ||
| Q2 24 | — | 15.9% |
资本支出强度ACTUSPH
| Q1 26 | — | — | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.4% |
现金转化率ACTUSPH
| Q1 26 | — | — | ||
| Q4 25 | — | 6.00× | ||
| Q3 25 | — | 1.52× | ||
| Q2 25 | — | 2.81× | ||
| Q1 25 | — | -0.47× | ||
| Q4 24 | — | 2.10× | ||
| Q3 24 | — | 3.34× | ||
| Q2 24 | — | 3.86× |
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
ACT
| Premiums | $242.8M | 78% |
| Other | $69.2M | 22% |
USPH
| Net Patient Revenues | $169.7M | 84% |
| Industrial Injury Prevention Services Revenues | $28.9M | 14% |
| Management Contract Revenues | $2.3M | 1% |
