vs
Addus HomeCare Corp（ADUS）与嘉德诺（BTSG）财务数据对比。点击上方公司名可切换其他公司
嘉德诺的季度营收约是Addus HomeCare Corp的9.5倍（$3.6B vs $373.1M）。Addus HomeCare Corp净利率更高（8.0% vs 2.2%，领先5.8%）。Addus HomeCare Corp同比增速更快（25.6% vs 16.3%）。嘉德诺自由现金流更多（$193.9M vs $16.1M）。过去两年嘉德诺的营收复合增速更高（17.4% vs 15.3%）
Addus HomeCare Corp是一家总部位于美国的家庭护理服务提供商，主要为老年人、残障人士及慢性病患者提供个人护理、居家健康支持、临终关怀等服务，业务覆盖美国多个州，合作方包括政府支付机构、私营保险公司及个人客户。
嘉德诺是美国跨国医疗服务企业，位列美国企业营收榜第15位，总部位于俄亥俄州都柏林。公司主营药品与医疗产品分销，服务覆盖超10万个网点，同时生产手套、手术服、流体管理产品等医用外科用品，还运营着规模位居前列的放射性药物网络。
ADUS vs BTSG — 直观对比
营收规模更大
BTSG
是对方的9.5倍
$373.1M
营收增速更快
ADUS
高出9.2%
16.3%
净利率更高
ADUS
高出5.8%
2.2%
自由现金流更多
BTSG
多$177.8M
$16.1M
两年增速更快
BTSG
近两年复合增速
15.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $373.1M | $3.6B |
| 净利润 | $29.8M | $77.1M |
| 毛利率 | 33.1% | 11.6% |
| 营业利润率 | 11.3% | 3.0% |
| 净利率 | 8.0% | 2.2% |
| 营收同比 | 25.6% | 16.3% |
| 净利润同比 | 52.5% | 381.8% |
| 每股收益（稀释后） | $1.62 | $0.34 |
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ADUSBTSG
| Q4 25 | $373.1M | $3.6B | ||
| Q3 25 | $362.3M | $3.3B | ||
| Q2 25 | $349.4M | $3.1B | ||
| Q1 25 | $337.7M | $2.9B | ||
| Q4 24 | $297.1M | $3.1B | ||
| Q3 24 | $289.8M | $2.9B | ||
| Q2 24 | $286.9M | $2.7B | ||
| Q1 24 | $280.7M | $2.6B |
净利润ADUSBTSG
| Q4 25 | $29.8M | $77.1M | ||
| Q3 25 | $22.8M | $55.8M | ||
| Q2 25 | $22.1M | $28.2M | ||
| Q1 25 | $21.2M | $29.5M | ||
| Q4 24 | $19.5M | $16.0M | ||
| Q3 24 | $20.2M | $-8.2M | ||
| Q2 24 | $18.1M | $19.9M | ||
| Q1 24 | $15.8M | $-45.8M |
毛利率ADUSBTSG
| Q4 25 | 33.1% | 11.6% | ||
| Q3 25 | 32.2% | 11.8% | ||
| Q2 25 | 32.6% | 11.9% | ||
| Q1 25 | 31.9% | 11.8% | ||
| Q4 24 | 34.2% | 13.8% | ||
| Q3 24 | 31.8% | 14.0% | ||
| Q2 24 | 32.5% | 14.2% | ||
| Q1 24 | 31.4% | 14.3% |
营业利润率ADUSBTSG
| Q4 25 | 11.3% | 3.0% | ||
| Q3 25 | 9.1% | 2.6% | ||
| Q2 25 | 9.4% | 1.5% | ||
| Q1 25 | 9.0% | 1.8% | ||
| Q4 24 | 9.1% | 2.6% | ||
| Q3 24 | 9.0% | 2.0% | ||
| Q2 24 | 9.1% | 2.3% | ||
| Q1 24 | 8.4% | 0.3% |
净利率ADUSBTSG
| Q4 25 | 8.0% | 2.2% | ||
| Q3 25 | 6.3% | 1.7% | ||
| Q2 25 | 6.3% | 0.9% | ||
| Q1 25 | 6.3% | 1.0% | ||
| Q4 24 | 6.6% | 0.5% | ||
| Q3 24 | 7.0% | -0.3% | ||
| Q2 24 | 6.3% | 0.7% | ||
| Q1 24 | 5.6% | -1.8% |
每股收益（稀释后）ADUSBTSG
| Q4 25 | $1.62 | $0.34 | ||
| Q3 25 | $1.24 | $0.26 | ||
| Q2 25 | $1.20 | $0.13 | ||
| Q1 25 | $1.16 | $0.14 | ||
| Q4 24 | $1.06 | $0.11 | ||
| Q3 24 | $1.10 | $-0.04 | ||
| Q2 24 | $1.10 | $0.10 | ||
| Q1 24 | $0.97 | $-0.26 |
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 | — | $88.4M |
| 总债务越低越好 | $121.0M | $2.5B |
| 股东权益账面价值 | $1.1B | $1.9B |
| 总资产 | $1.4B | $6.4B |
| 负债/权益比越低杠杆越低 | 0.11× | 1.34× |
8季度趋势，按日历期对齐
现金及短期投资ADUSBTSG
| Q4 25 | — | $88.4M | ||
| Q3 25 | — | $140.3M | ||
| Q2 25 | — | $70.1M | ||
| Q1 25 | $97.0M | $52.3M | ||
| Q4 24 | $98.9M | $61.3M | ||
| Q3 24 | $222.9M | $36.0M | ||
| Q2 24 | $173.3M | $25.0M | ||
| Q1 24 | $76.7M | $58.0M |
总债务ADUSBTSG
| Q4 25 | $121.0M | $2.5B | ||
| Q3 25 | $150.6M | $2.5B | ||
| Q2 25 | $169.1M | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | $218.4M | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | — | $2.6B |
股东权益ADUSBTSG
| Q4 25 | $1.1B | $1.9B | ||
| Q3 25 | $1.0B | $1.8B | ||
| Q2 25 | $1.0B | $1.7B | ||
| Q1 25 | $995.4M | $1.7B | ||
| Q4 24 | $970.5M | $1.6B | ||
| Q3 24 | $947.6M | $1.6B | ||
| Q2 24 | $921.7M | $1.6B | ||
| Q1 24 | $725.1M | $1.6B |
总资产ADUSBTSG
| Q4 25 | $1.4B | $6.4B | ||
| Q3 25 | $1.4B | $6.0B | ||
| Q2 25 | $1.4B | $5.9B | ||
| Q1 25 | $1.4B | $5.8B | ||
| Q4 24 | $1.4B | $5.9B | ||
| Q3 24 | $1.2B | $5.8B | ||
| Q2 24 | $1.1B | $5.6B | ||
| Q1 24 | $1.0B | $5.7B |
负债/权益比ADUSBTSG
| Q4 25 | 0.11× | 1.34× | ||
| Q3 25 | 0.14× | 1.38× | ||
| Q2 25 | 0.17× | 1.45× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | 0.23× | 1.58× | ||
| Q3 24 | — | 1.65× | ||
| Q2 24 | — | 1.63× | ||
| Q1 24 | — | 1.64× |
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 | $18.8M | $231.6M |
| 自由现金流经营现金流 - 资本支出 | $16.1M | $193.9M |
| 自由现金流率自由现金流/营收 | 4.3% | 5.5% |
| 资本支出强度资本支出/营收 | 0.7% | 1.1% |
| 现金转化率经营现金流/净利润 | 0.63× | 3.00× |
| 过去12个月自由现金流最近4个季度 | $103.8M | $394.7M |
8季度趋势，按日历期对齐
经营现金流ADUSBTSG
| Q4 25 | $18.8M | $231.6M | ||
| Q3 25 | $51.3M | $107.9M | ||
| Q2 25 | $22.5M | $49.1M | ||
| Q1 25 | $18.9M | $101.6M | ||
| Q4 24 | $10.4M | $90.6M | ||
| Q3 24 | $48.5M | $27.2M | ||
| Q2 24 | $18.8M | $-15.2M | ||
| Q1 24 | $38.7M | $-78.9M |
自由现金流ADUSBTSG
| Q4 25 | $16.1M | $193.9M | ||
| Q3 25 | $49.3M | $92.2M | ||
| Q2 25 | $21.3M | $24.7M | ||
| Q1 25 | $17.1M | $84.0M | ||
| Q4 24 | $8.7M | $75.3M | ||
| Q3 24 | $46.6M | $7.2M | ||
| Q2 24 | $17.7M | $-39.0M | ||
| Q1 24 | $37.3M | $-100.7M |
自由现金流率ADUSBTSG
| Q4 25 | 4.3% | 5.5% | ||
| Q3 25 | 13.6% | 2.8% | ||
| Q2 25 | 6.1% | 0.8% | ||
| Q1 25 | 5.1% | 2.9% | ||
| Q4 24 | 2.9% | 2.5% | ||
| Q3 24 | 16.1% | 0.2% | ||
| Q2 24 | 6.2% | -1.4% | ||
| Q1 24 | 13.3% | -3.9% |
资本支出强度ADUSBTSG
| Q4 25 | 0.7% | 1.1% | ||
| Q3 25 | 0.5% | 0.5% | ||
| Q2 25 | 0.4% | 0.8% | ||
| Q1 25 | 0.6% | 0.6% | ||
| Q4 24 | 0.6% | 0.5% | ||
| Q3 24 | 0.7% | 0.7% | ||
| Q2 24 | 0.4% | 0.9% | ||
| Q1 24 | 0.5% | 0.8% |
现金转化率ADUSBTSG
| Q4 25 | 0.63× | 3.00× | ||
| Q3 25 | 2.24× | 1.93× | ||
| Q2 25 | 1.02× | 1.74× | ||
| Q1 25 | 0.89× | 3.44× | ||
| Q4 24 | 0.53× | 5.66× | ||
| Q3 24 | 2.41× | — | ||
| Q2 24 | 1.04× | -0.76× | ||
| Q1 24 | 2.44× | — |
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
ADUS
| Personal Care | $286.0M | 77% |
| Hospice | $70.0M | 19% |
| Home Health | $17.1M | 5% |
BTSG
| Medicare D | $1.1B | 32% |
| Commercial Insurance | $879.8M | 25% |
| Medicare C | $641.2M | 18% |
| Provider Services | $394.2M | 11% |
| Medicaid | $301.4M | 8% |
| Medicare A | $150.5M | 4% |
| Private And Other | $44.0M | 1% |
| Medicare B | $19.5M | 1% |
| Pharmacy Solutions And Provider Services Segments | $19.0M | 1% |
