vs
爱齐科技（ALGN）与永利度假村（WYNN）财务数据对比。点击上方公司名可切换其他公司
永利度假村的季度营收约是爱齐科技的1.8倍（$1.9B vs $1.0B），爱齐科技净利率更高（13.0% vs 5.4%，领先7.6%），爱齐科技同比增速更快（5.3% vs 1.5%），永利度假村自由现金流更多（$306.8M vs $187.3M），过去两年爱齐科技的营收复合增速更高（2.5% vs 0.1%）
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
永利度假村是总部位于美国内华达州帕拉代斯的上市企业，专注于高端酒店及博彩度假村的开发与运营。公司2002年由前梦幻度假村董事长兼首席执行官史蒂夫·永利创立，现任首席执行官为克雷格·比林斯，截至2020年已在全球布局6处优质物业。
ALGN vs WYNN — 直观对比
营收规模更大
WYNN
是对方的1.8倍
$1.0B
营收增速更快
ALGN
高出3.8%
1.5%
净利率更高
ALGN
高出7.6%
5.4%
自由现金流更多
WYNN
多$119.5M
$187.3M
两年增速更快
ALGN
近两年复合增速
0.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.9B |
| 净利润 | $135.8M | $100.0M |
| 毛利率 | 65.3% | — |
| 营业利润率 | 14.8% | 14.7% |
| 净利率 | 13.0% | 5.4% |
| 营收同比 | 5.3% | 1.5% |
| 净利润同比 | 30.8% | -63.9% |
| 每股收益（稀释后） | $1.88 | $0.96 |
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ALGNWYNN
| Q4 25 | $1.0B | $1.9B | ||
| Q3 25 | $995.7M | $1.8B | ||
| Q2 25 | $1.0B | $1.7B | ||
| Q1 25 | $979.3M | $1.7B | ||
| Q4 24 | $995.2M | $1.8B | ||
| Q3 24 | $977.9M | $1.7B | ||
| Q2 24 | $1.0B | $1.7B | ||
| Q1 24 | $997.4M | $1.9B |
净利润ALGNWYNN
| Q4 25 | $135.8M | $100.0M | ||
| Q3 25 | $56.8M | $88.3M | ||
| Q2 25 | $124.6M | $66.2M | ||
| Q1 25 | $93.2M | $72.7M | ||
| Q4 24 | $103.8M | $277.0M | ||
| Q3 24 | $116.0M | $-32.1M | ||
| Q2 24 | $96.6M | $111.9M | ||
| Q1 24 | $105.0M | $144.2M |
毛利率ALGNWYNN
| 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ALGNWYNN
| Q4 25 | 14.8% | 14.7% | ||
| Q3 25 | 9.7% | 16.9% | ||
| Q2 25 | 16.1% | 15.2% | ||
| Q1 25 | 13.4% | 15.8% | ||
| Q4 24 | 14.5% | 20.0% | ||
| Q3 24 | 16.6% | 7.9% | ||
| Q2 24 | 14.3% | 15.6% | ||
| Q1 24 | 15.5% | 19.5% |
净利率ALGNWYNN
| Q4 25 | 13.0% | 5.4% | ||
| Q3 25 | 5.7% | 4.8% | ||
| Q2 25 | 12.3% | 3.8% | ||
| Q1 25 | 9.5% | 4.3% | ||
| Q4 24 | 10.4% | 15.1% | ||
| Q3 24 | 11.9% | -1.9% | ||
| Q2 24 | 9.4% | 6.5% | ||
| Q1 24 | 10.5% | 7.7% |
每股收益（稀释后）ALGNWYNN
| Q4 25 | $1.88 | $0.96 | ||
| Q3 25 | $0.78 | $0.85 | ||
| Q2 25 | $1.72 | $0.64 | ||
| Q1 25 | $1.27 | $0.69 | ||
| Q4 24 | $1.40 | $2.43 | ||
| Q3 24 | $1.55 | $-0.29 | ||
| Q2 24 | $1.28 | $0.91 | ||
| Q1 24 | $1.39 | $1.30 |
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 | $1.5B |
| 总债务越低越好 | — | $10.5B |
| 股东权益账面价值 | $4.0B | $-275.5M |
| 总资产 | $6.2B | $13.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ALGNWYNN
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $1.0B | $1.5B | ||
| Q2 25 | $901.2M | $2.0B | ||
| Q1 25 | $873.0M | $2.1B | ||
| Q4 24 | $1.0B | $2.4B | ||
| Q3 24 | $1.0B | $2.4B | ||
| Q2 24 | $761.4M | $2.4B | ||
| Q1 24 | $865.8M | $2.4B |
总债务ALGNWYNN
| Q4 25 | — | $10.5B | ||
| Q3 25 | — | $10.6B | ||
| Q2 25 | — | $10.5B | ||
| Q1 25 | — | $10.6B | ||
| Q4 24 | — | $10.5B | ||
| Q3 24 | — | $11.8B | ||
| Q2 24 | — | $11.0B | ||
| Q1 24 | — | $11.2B |
股东权益ALGNWYNN
| Q4 25 | $4.0B | $-275.5M | ||
| Q3 25 | $4.0B | $-370.0M | ||
| Q2 25 | $3.9B | $-441.5M | ||
| Q1 25 | $3.8B | $-360.7M | ||
| Q4 24 | $3.9B | $-224.2M | ||
| Q3 24 | $3.9B | $-281.4M | ||
| Q2 24 | $3.8B | $-109.8M | ||
| Q1 24 | $3.8B | $-137.0M |
总资产ALGNWYNN
| Q4 25 | $6.2B | $13.1B | ||
| Q3 25 | $6.2B | $12.8B | ||
| Q2 25 | $6.2B | $12.7B | ||
| Q1 25 | $6.1B | $12.7B | ||
| Q4 24 | $6.2B | $13.0B | ||
| Q3 24 | $6.4B | $14.1B | ||
| Q2 24 | $6.2B | $13.3B | ||
| Q1 24 | $6.2B | $13.5B |
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 | $478.0M |
| 自由现金流经营现金流 - 资本支出 | $187.3M | $306.8M |
| 自由现金流率自由现金流/营收 | 17.9% | 16.4% |
| 资本支出强度资本支出/营收 | 3.4% | 9.2% |
| 现金转化率经营现金流/净利润 | 1.64× | 4.78× |
| 过去12个月自由现金流最近4个季度 | $490.8M | $692.2M |
8季度趋势，按日历期对齐
经营现金流ALGNWYNN
| Q4 25 | $223.2M | $478.0M | ||
| Q3 25 | $188.7M | $335.8M | ||
| Q2 25 | $128.7M | $405.1M | ||
| Q1 25 | $52.7M | $133.8M | ||
| Q4 24 | $286.1M | $479.0M | ||
| Q3 24 | $263.7M | $279.3M | ||
| Q2 24 | $159.8M | $352.8M | ||
| Q1 24 | $28.7M | $315.1M |
自由现金流ALGNWYNN
| Q4 25 | $187.3M | $306.8M | ||
| Q3 25 | $169.0M | $171.8M | ||
| Q2 25 | $107.2M | $239.8M | ||
| Q1 25 | $27.4M | $-26.2M | ||
| Q4 24 | $263.1M | $351.8M | ||
| Q3 24 | $233.9M | $178.0M | ||
| Q2 24 | $106.4M | $259.1M | ||
| Q1 24 | $19.3M | $217.4M |
自由现金流率ALGNWYNN
| Q4 25 | 17.9% | 16.4% | ||
| Q3 25 | 17.0% | 9.4% | ||
| Q2 25 | 10.6% | 13.8% | ||
| Q1 25 | 2.8% | -1.5% | ||
| Q4 24 | 26.4% | 19.1% | ||
| Q3 24 | 23.9% | 10.5% | ||
| Q2 24 | 10.3% | 15.0% | ||
| Q1 24 | 1.9% | 11.7% |
资本支出强度ALGNWYNN
| Q4 25 | 3.4% | 9.2% | ||
| Q3 25 | 2.0% | 8.9% | ||
| Q2 25 | 2.1% | 9.5% | ||
| Q1 25 | 2.6% | 9.4% | ||
| Q4 24 | 2.3% | 6.9% | ||
| Q3 24 | 3.0% | 6.0% | ||
| Q2 24 | 5.2% | 5.4% | ||
| Q1 24 | 0.9% | 5.2% |
现金转化率ALGNWYNN
| Q4 25 | 1.64× | 4.78× | ||
| Q3 25 | 3.33× | 3.80× | ||
| Q2 25 | 1.03× | 6.12× | ||
| Q1 25 | 0.57× | 1.84× | ||
| Q4 24 | 2.76× | 1.73× | ||
| Q3 24 | 2.27× | — | ||
| Q2 24 | 1.66× | 3.15× | ||
| Q1 24 | 0.27× | 2.18× |
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
| Systems And Services | $789.6M | 75% |
| Other | $258.0M | 25% |
WYNN
| Casino | $1.1B | 61% |
| Occupancy | $305.1M | 16% |
| Food And Beverage | $264.9M | 14% |
| Entertainment Retail And Other | $152.6M | 8% |
