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爱齐科技（ALGN）与Encompass Health Corp（EHC）财务数据对比。点击上方公司名可切换其他公司
Encompass Health Corp的季度营收约是爱齐科技的1.5倍（$1.5B vs $1.0B）。爱齐科技净利率更高（13.0% vs 9.5%，领先3.5%）。Encompass Health Corp同比增速更快（9.9% vs 5.3%）。爱齐科技自由现金流更多（$187.3M vs $116.7M）。过去两年Encompass Health Corp的营收复合增速更高（8.3% vs 2.5%）
爱齐科技是一家全球知名医疗设备企业，主营设计、生产及销售隐适美透明矫治器、iTero口内扫描仪及配套服务，客户覆盖正畸医师、全科牙医，面向修复、美容牙科领域，业务分为透明矫治器、扫描仪及服务两大板块，可满足青少年等不同群体的正畸需求
Encompass Health Corp前身为Amcare及HealthSouth，总部位于美国阿拉巴马州伯明翰，是美国规模最大的住院康复服务提供商，在39个州及波多黎各拥有173家住院康复医院，为中风、神经系统疾病、心肺病症、脑损伤等患者提供专业康复诊疗服务。
ALGN vs EHC — 直观对比
营收规模更大
EHC
是对方的1.5倍
$1.0B
营收增速更快
EHC
高出4.7%
5.3%
净利率更高
ALGN
高出3.5%
9.5%
自由现金流更多
ALGN
多$70.6M
$116.7M
两年增速更快
EHC
近两年复合增速
2.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.5B |
| 净利润 | $135.8M | $146.1M |
| 毛利率 | 65.3% | — |
| 营业利润率 | 14.8% | 16.7% |
| 净利率 | 13.0% | 9.5% |
| 营收同比 | 5.3% | 9.9% |
| 净利润同比 | 30.8% | 20.8% |
| 每股收益（稀释后） | $1.88 | $1.43 |
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ALGNEHC
| Q4 25 | $1.0B | $1.5B | ||
| Q3 25 | $995.7M | $1.5B | ||
| Q2 25 | $1.0B | $1.5B | ||
| Q1 25 | $979.3M | $1.5B | ||
| Q4 24 | $995.2M | $1.4B | ||
| Q3 24 | $977.9M | $1.4B | ||
| Q2 24 | $1.0B | $1.3B | ||
| Q1 24 | $997.4M | $1.3B |
净利润ALGNEHC
| Q4 25 | $135.8M | $146.1M | ||
| Q3 25 | $56.8M | $126.5M | ||
| Q2 25 | $124.6M | $142.1M | ||
| Q1 25 | $93.2M | $151.5M | ||
| Q4 24 | $103.8M | $120.9M | ||
| Q3 24 | $116.0M | $108.2M | ||
| Q2 24 | $96.6M | $114.1M | ||
| Q1 24 | $105.0M | $112.5M |
毛利率ALGNEHC
| Q4 25 | 65.3% | — | ||
| Q3 25 | 64.2% | — | ||
| Q2 25 | 69.9% | — | ||
| Q1 25 | 69.5% | — | ||
| Q4 24 | 70.0% | — | ||
| Q3 24 | 69.7% | — | ||
| Q2 24 | 70.3% | — | ||
| Q1 24 | 70.0% | — |
营业利润率ALGNEHC
| Q4 25 | 14.8% | 16.7% | ||
| Q3 25 | 9.7% | 14.9% | ||
| Q2 25 | 16.1% | 16.2% | ||
| Q1 25 | 13.4% | 16.4% | ||
| Q4 24 | 14.5% | 14.3% | ||
| Q3 24 | 16.6% | 13.6% | ||
| Q2 24 | 14.3% | 14.3% | ||
| Q1 24 | 15.5% | 13.6% |
净利率ALGNEHC
| Q4 25 | 13.0% | 9.5% | ||
| Q3 25 | 5.7% | 8.6% | ||
| Q2 25 | 12.3% | 9.7% | ||
| Q1 25 | 9.5% | 10.4% | ||
| Q4 24 | 10.4% | 8.6% | ||
| Q3 24 | 11.9% | 8.0% | ||
| Q2 24 | 9.4% | 8.8% | ||
| Q1 24 | 10.5% | 8.5% |
每股收益（稀释后）ALGNEHC
| Q4 25 | $1.88 | $1.43 | ||
| Q3 25 | $0.78 | $1.24 | ||
| Q2 25 | $1.72 | $1.39 | ||
| Q1 25 | $1.27 | $1.48 | ||
| Q4 24 | $1.40 | $1.18 | ||
| Q3 24 | $1.55 | $1.06 | ||
| Q2 24 | $1.28 | $1.12 | ||
| Q1 24 | $1.39 | $1.10 |
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 | $1.1B | $72.2M |
| 总债务越低越好 | — | $2.4B |
| 股东权益账面价值 | $4.0B | $2.4B |
| 总资产 | $6.2B | $7.1B |
| 负债/权益比越低杠杆越低 | — | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资ALGNEHC
| Q4 25 | $1.1B | $72.2M | ||
| Q3 25 | $1.0B | $48.7M | ||
| Q2 25 | $901.2M | $99.1M | ||
| Q1 25 | $873.0M | $95.8M | ||
| Q4 24 | $1.0B | $85.4M | ||
| Q3 24 | $1.0B | $147.8M | ||
| Q2 24 | $761.4M | $154.4M | ||
| Q1 24 | $865.8M | $134.4M |
总债务ALGNEHC
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.7B |
股东权益ALGNEHC
| Q4 25 | $4.0B | $2.4B | ||
| Q3 25 | $4.0B | $2.4B | ||
| Q2 25 | $3.9B | $2.3B | ||
| Q1 25 | $3.8B | $2.2B | ||
| Q4 24 | $3.9B | $2.1B | ||
| Q3 24 | $3.9B | $2.0B | ||
| Q2 24 | $3.8B | $1.8B | ||
| Q1 24 | $3.8B | $1.7B |
总资产ALGNEHC
| Q4 25 | $6.2B | $7.1B | ||
| Q3 25 | $6.2B | $6.9B | ||
| Q2 25 | $6.2B | $6.8B | ||
| Q1 25 | $6.1B | $6.6B | ||
| Q4 24 | $6.2B | $6.5B | ||
| Q3 24 | $6.4B | $6.5B | ||
| Q2 24 | $6.2B | $6.4B | ||
| Q1 24 | $6.2B | $6.2B |
负债/权益比ALGNEHC
| Q4 25 | — | 1.00× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 1.02× | ||
| Q1 25 | — | 1.08× | ||
| Q4 24 | — | 1.14× | ||
| Q3 24 | — | 1.20× | ||
| Q2 24 | — | 1.46× | ||
| Q1 24 | — | 1.54× |
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 | $223.2M | $346.0M |
| 自由现金流经营现金流 - 资本支出 | $187.3M | $116.7M |
| 自由现金流率自由现金流/营收 | 17.9% | 7.6% |
| 资本支出强度资本支出/营收 | 3.4% | 14.8% |
| 现金转化率经营现金流/净利润 | 1.64× | 2.37× |
| 过去12个月自由现金流最近4个季度 | $490.8M | $439.2M |
8季度趋势，按日历期对齐
经营现金流ALGNEHC
| Q4 25 | $223.2M | $346.0M | ||
| Q3 25 | $188.7M | $270.8M | ||
| Q2 25 | $128.7M | $270.2M | ||
| Q1 25 | $52.7M | $288.6M | ||
| Q4 24 | $286.1M | $278.8M | ||
| Q3 24 | $263.7M | $267.8M | ||
| Q2 24 | $159.8M | $217.4M | ||
| Q1 24 | $28.7M | $238.8M |
自由现金流ALGNEHC
| Q4 25 | $187.3M | $116.7M | ||
| Q3 25 | $169.0M | $83.7M | ||
| Q2 25 | $107.2M | $113.3M | ||
| Q1 25 | $27.4M | $125.5M | ||
| Q4 24 | $263.1M | $80.1M | ||
| Q3 24 | $233.9M | $120.3M | ||
| Q2 24 | $106.4M | $60.5M | ||
| Q1 24 | $19.3M | $99.4M |
自由现金流率ALGNEHC
| Q4 25 | 17.9% | 7.6% | ||
| Q3 25 | 17.0% | 5.7% | ||
| Q2 25 | 10.6% | 7.8% | ||
| Q1 25 | 2.8% | 8.6% | ||
| Q4 24 | 26.4% | 5.7% | ||
| Q3 24 | 23.9% | 8.9% | ||
| Q2 24 | 10.3% | 4.6% | ||
| Q1 24 | 1.9% | 7.6% |
资本支出强度ALGNEHC
| Q4 25 | 3.4% | 14.8% | ||
| Q3 25 | 2.0% | 12.7% | ||
| Q2 25 | 2.1% | 10.8% | ||
| Q1 25 | 2.6% | 11.2% | ||
| Q4 24 | 2.3% | 14.1% | ||
| Q3 24 | 3.0% | 10.9% | ||
| Q2 24 | 5.2% | 12.1% | ||
| Q1 24 | 0.9% | 10.6% |
现金转化率ALGNEHC
| Q4 25 | 1.64× | 2.37× | ||
| Q3 25 | 3.33× | 2.14× | ||
| Q2 25 | 1.03× | 1.90× | ||
| Q1 25 | 0.57× | 1.90× | ||
| Q4 24 | 2.76× | 2.31× | ||
| Q3 24 | 2.27× | 2.48× | ||
| Q2 24 | 1.66× | 1.91× | ||
| Q1 24 | 0.27× | 2.12× |
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
ALGN
暂无分部数据
EHC
| Medicare | $1.0B | 66% |
| Medicare Advantage | $243.1M | 16% |
| Managed Care | $160.7M | 10% |
| Medicaid | $47.0M | 3% |
| Other Income Source | $44.8M | 3% |
| Other Thirdparty Payors | $11.2M | 1% |
| Workers Compensation | $7.6M | 0% |
| Patients | $4.6M | 0% |
