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爱齐科技（ALGN）与Surgery Partners, Inc.（SGRY）财务数据对比。点击上方公司名可切换其他公司
爱齐科技的季度营收约是Surgery Partners, Inc.的1.2倍（$1.0B vs $885.0M）。爱齐科技净利率更高（13.0% vs -1.7%，领先14.7%）。爱齐科技同比增速更快（5.3% vs 2.4%）。爱齐科技自由现金流更多（$187.3M vs $90.6M）。过去两年Surgery Partners, Inc.的营收复合增速更高（11.1% 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
Surgery Partners, Inc.（NASDAQ代码：SGRY）旗下的United Surgical Partners International（USPI）是美国领先的日间手术护理服务商，总部位于得克萨斯州达拉斯，由唐·斯廷于1998年创立，专注于为患者提供便捷、高效的门诊外科医疗服务，运营多家合规手术中心，覆盖美国多地医疗需求场景。
ALGN vs SGRY — 直观对比
营收规模更大
ALGN
是对方的1.2倍
$885.0M
营收增速更快
ALGN
高出2.9%
2.4%
净利率更高
ALGN
高出14.7%
-1.7%
自由现金流更多
ALGN
多$96.7M
$90.6M
两年增速更快
SGRY
近两年复合增速
2.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $885.0M |
| 净利润 | $135.8M | $-15.0M |
| 毛利率 | 65.3% | — |
| 营业利润率 | 14.8% | 12.5% |
| 净利率 | 13.0% | -1.7% |
| 营收同比 | 5.3% | 2.4% |
| 净利润同比 | 30.8% | 86.2% |
| 每股收益（稀释后） | $1.88 | $-0.11 |
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ALGNSGRY
| Q4 25 | $1.0B | $885.0M | ||
| Q3 25 | $995.7M | $821.5M | ||
| Q2 25 | $1.0B | $826.2M | ||
| Q1 25 | $979.3M | $776.0M | ||
| Q4 24 | $995.2M | $864.4M | ||
| Q3 24 | $977.9M | $770.4M | ||
| Q2 24 | $1.0B | $762.1M | ||
| Q1 24 | $997.4M | $717.4M |
净利润ALGNSGRY
| Q4 25 | $135.8M | $-15.0M | ||
| Q3 25 | $56.8M | $-22.7M | ||
| Q2 25 | $124.6M | $-2.5M | ||
| Q1 25 | $93.2M | $-37.7M | ||
| Q4 24 | $103.8M | $-108.5M | ||
| Q3 24 | $116.0M | $-31.7M | ||
| Q2 24 | $96.6M | $-15.5M | ||
| Q1 24 | $105.0M | $-12.4M |
毛利率ALGNSGRY
| 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ALGNSGRY
| Q4 25 | 14.8% | 12.5% | ||
| Q3 25 | 9.7% | 12.9% | ||
| Q2 25 | 16.1% | 13.5% | ||
| Q1 25 | 13.4% | 8.0% | ||
| Q4 24 | 14.5% | 14.7% | ||
| Q3 24 | 16.6% | 7.9% | ||
| Q2 24 | 14.3% | 11.1% | ||
| Q1 24 | 15.5% | 10.6% |
净利率ALGNSGRY
| Q4 25 | 13.0% | -1.7% | ||
| Q3 25 | 5.7% | -2.8% | ||
| Q2 25 | 12.3% | -0.3% | ||
| Q1 25 | 9.5% | -4.9% | ||
| Q4 24 | 10.4% | -12.6% | ||
| Q3 24 | 11.9% | -4.1% | ||
| Q2 24 | 9.4% | -2.0% | ||
| Q1 24 | 10.5% | -1.7% |
每股收益（稀释后）ALGNSGRY
| Q4 25 | $1.88 | $-0.11 | ||
| Q3 25 | $0.78 | $-0.18 | ||
| Q2 25 | $1.72 | $-0.02 | ||
| Q1 25 | $1.27 | $-0.30 | ||
| Q4 24 | $1.40 | $-0.86 | ||
| Q3 24 | $1.55 | $-0.25 | ||
| Q2 24 | $1.28 | $-0.12 | ||
| Q1 24 | $1.39 | $-0.10 |
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 | $239.9M |
| 总债务越低越好 | — | $3.6B |
| 股东权益账面价值 | $4.0B | $1.7B |
| 总资产 | $6.2B | $8.1B |
| 负债/权益比越低杠杆越低 | — | 2.10× |
8季度趋势，按日历期对齐
现金及短期投资ALGNSGRY
| Q4 25 | $1.1B | $239.9M | ||
| Q3 25 | $1.0B | $203.4M | ||
| Q2 25 | $901.2M | $250.1M | ||
| Q1 25 | $873.0M | $229.3M | ||
| Q4 24 | $1.0B | $269.5M | ||
| Q3 24 | $1.0B | $221.8M | ||
| Q2 24 | $761.4M | $213.5M | ||
| Q1 24 | $865.8M | $185.2M |
总债务ALGNSGRY
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.5B | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $2.8B |
股东权益ALGNSGRY
| Q4 25 | $4.0B | $1.7B | ||
| Q3 25 | $4.0B | $1.7B | ||
| Q2 25 | $3.9B | $1.7B | ||
| Q1 25 | $3.8B | $1.7B | ||
| Q4 24 | $3.9B | $1.8B | ||
| Q3 24 | $3.9B | $1.9B | ||
| Q2 24 | $3.8B | $2.0B | ||
| Q1 24 | $3.8B | $2.0B |
总资产ALGNSGRY
| Q4 25 | $6.2B | $8.1B | ||
| Q3 25 | $6.2B | $7.9B | ||
| Q2 25 | $6.2B | $8.0B | ||
| Q1 25 | $6.1B | $7.9B | ||
| Q4 24 | $6.2B | $7.9B | ||
| Q3 24 | $6.4B | $7.5B | ||
| Q2 24 | $6.2B | $7.5B | ||
| Q1 24 | $6.2B | $7.0B |
负债/权益比ALGNSGRY
| Q4 25 | — | 2.10× | ||
| Q3 25 | — | 2.00× | ||
| Q2 25 | — | 1.98× | ||
| Q1 25 | — | 1.98× | ||
| Q4 24 | — | 1.83× | ||
| Q3 24 | — | 1.63× | ||
| Q2 24 | — | 1.56× | ||
| Q1 24 | — | 1.42× |
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 | $103.4M |
| 自由现金流经营现金流 - 资本支出 | $187.3M | $90.6M |
| 自由现金流率自由现金流/营收 | 17.9% | 10.2% |
| 资本支出强度资本支出/营收 | 3.4% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.64× | — |
| 过去12个月自由现金流最近4个季度 | $490.8M | $195.6M |
8季度趋势，按日历期对齐
经营现金流ALGNSGRY
| Q4 25 | $223.2M | $103.4M | ||
| Q3 25 | $188.7M | $83.6M | ||
| Q2 25 | $128.7M | $81.3M | ||
| Q1 25 | $52.7M | $6.0M | ||
| Q4 24 | $286.1M | $111.4M | ||
| Q3 24 | $263.7M | $65.2M | ||
| Q2 24 | $159.8M | $82.8M | ||
| Q1 24 | $28.7M | $40.7M |
自由现金流ALGNSGRY
| Q4 25 | $187.3M | $90.6M | ||
| Q3 25 | $169.0M | $63.8M | ||
| Q2 25 | $107.2M | $57.9M | ||
| Q1 25 | $27.4M | $-16.7M | ||
| Q4 24 | $263.1M | $89.1M | ||
| Q3 24 | $233.9M | $45.0M | ||
| Q2 24 | $106.4M | $55.9M | ||
| Q1 24 | $19.3M | $19.7M |
自由现金流率ALGNSGRY
| Q4 25 | 17.9% | 10.2% | ||
| Q3 25 | 17.0% | 7.8% | ||
| Q2 25 | 10.6% | 7.0% | ||
| Q1 25 | 2.8% | -2.2% | ||
| Q4 24 | 26.4% | 10.3% | ||
| Q3 24 | 23.9% | 5.8% | ||
| Q2 24 | 10.3% | 7.3% | ||
| Q1 24 | 1.9% | 2.7% |
资本支出强度ALGNSGRY
| Q4 25 | 3.4% | 1.4% | ||
| Q3 25 | 2.0% | 2.4% | ||
| Q2 25 | 2.1% | 2.8% | ||
| Q1 25 | 2.6% | 2.9% | ||
| Q4 24 | 2.3% | 2.6% | ||
| Q3 24 | 3.0% | 2.6% | ||
| Q2 24 | 5.2% | 3.5% | ||
| Q1 24 | 0.9% | 2.9% |
现金转化率ALGNSGRY
| Q4 25 | 1.64× | — | ||
| Q3 25 | 3.33× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 0.57× | — | ||
| Q4 24 | 2.76× | — | ||
| Q3 24 | 2.27× | — | ||
| Q2 24 | 1.66× | — | ||
| Q1 24 | 0.27× | — |
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
SGRY
| Private Insurance | $460.5M | 52% |
| Government Revenue | $368.6M | 42% |
| Other | $19.8M | 2% |
| Self Pay Revenue | $19.6M | 2% |
| Other Patient Service Revenue Sources | $16.5M | 2% |
