vs
安进（AMGN）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
安进的季度营收约是Encompass Health Corp的6.4倍（$9.9B vs $1.5B）。安进净利率更高（13.5% vs 9.5%，领先4.1%）。Encompass Health Corp同比增速更快（9.9% vs 8.6%）。安进自由现金流更多（$961.0M vs $116.7M）。过去两年安进的营收复合增速更高（15.1% vs 8.3%）
安进是总部位于美国加利福尼亚州千橡市的跨国生物制药企业，公司名称取自最初的全称「应用分子遗传学」的缩写组合，按营收规模排名位列全球生物医药企业第18位，专注于研发、生产及商业化创新生物药物，为全球患者提供优质治疗选择。
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。
AMGN vs EHC — 直观对比
营收规模更大
AMGN
是对方的6.4倍
$1.5B
营收增速更快
EHC
高出1.4%
8.6%
净利率更高
AMGN
高出4.1%
9.5%
自由现金流更多
AMGN
多$844.3M
$116.7M
两年增速更快
AMGN
近两年复合增速
8.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $1.5B |
| 净利润 | $1.3B | $146.1M |
| 毛利率 | 69.8% | — |
| 营业利润率 | 27.6% | 16.7% |
| 净利率 | 13.5% | 9.5% |
| 营收同比 | 8.6% | 9.9% |
| 净利润同比 | 112.6% | 20.8% |
| 每股收益（稀释后） | $2.45 | $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AMGNEHC
| Q4 25 | $9.9B | $1.5B | ||
| Q3 25 | $9.6B | $1.5B | ||
| Q2 25 | $9.2B | $1.5B | ||
| Q1 25 | $8.1B | $1.5B | ||
| Q4 24 | $9.1B | $1.4B | ||
| Q3 24 | $8.5B | $1.4B | ||
| Q2 24 | $8.4B | $1.3B | ||
| Q1 24 | $7.4B | $1.3B |
净利润AMGNEHC
| Q4 25 | $1.3B | $146.1M | ||
| Q3 25 | $3.2B | $126.5M | ||
| Q2 25 | $1.4B | $142.1M | ||
| Q1 25 | $1.7B | $151.5M | ||
| Q4 24 | $627.0M | $120.9M | ||
| Q3 24 | $2.8B | $108.2M | ||
| Q2 24 | $746.0M | $114.1M | ||
| Q1 24 | $-113.0M | $112.5M |
毛利率AMGNEHC
| Q4 25 | 69.8% | — | ||
| Q3 25 | 67.8% | — | ||
| Q2 25 | 67.2% | — | ||
| Q1 25 | 63.6% | — | ||
| Q4 24 | 65.7% | — | ||
| Q3 24 | 61.1% | — | ||
| Q2 24 | 61.4% | — | ||
| Q1 24 | 57.0% | — |
营业利润率AMGNEHC
| Q4 25 | 27.6% | 16.7% | ||
| Q3 25 | 26.4% | 14.9% | ||
| Q2 25 | 28.9% | 16.2% | ||
| Q1 25 | 14.5% | 16.4% | ||
| Q4 24 | 25.4% | 14.3% | ||
| Q3 24 | 24.1% | 13.6% | ||
| Q2 24 | 22.8% | 14.3% | ||
| Q1 24 | 13.3% | 13.6% |
净利率AMGNEHC
| Q4 25 | 13.5% | 9.5% | ||
| Q3 25 | 33.7% | 8.6% | ||
| Q2 25 | 15.6% | 9.7% | ||
| Q1 25 | 21.2% | 10.4% | ||
| Q4 24 | 6.9% | 8.6% | ||
| Q3 24 | 33.3% | 8.0% | ||
| Q2 24 | 8.9% | 8.8% | ||
| Q1 24 | -1.5% | 8.5% |
每股收益（稀释后）AMGNEHC
| Q4 25 | $2.45 | $1.43 | ||
| Q3 25 | $5.93 | $1.24 | ||
| Q2 25 | $2.65 | $1.39 | ||
| Q1 25 | $3.20 | $1.48 | ||
| Q4 24 | $1.17 | $1.18 | ||
| Q3 24 | $5.22 | $1.06 | ||
| Q2 24 | $1.38 | $1.12 | ||
| Q1 24 | $-0.21 | $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 | $9.1B | $72.2M |
| 总债务越低越好 | $54.6B | $2.4B |
| 股东权益账面价值 | $8.7B | $2.4B |
| 总资产 | $90.6B | $7.1B |
| 负债/权益比越低杠杆越低 | 6.31× | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资AMGNEHC
| Q4 25 | $9.1B | $72.2M | ||
| Q3 25 | $9.4B | $48.7M | ||
| Q2 25 | $8.0B | $99.1M | ||
| Q1 25 | $8.8B | $95.8M | ||
| Q4 24 | $12.0B | $85.4M | ||
| Q3 24 | $9.0B | $147.8M | ||
| Q2 24 | $9.3B | $154.4M | ||
| Q1 24 | $9.7B | $134.4M |
总债务AMGNEHC
| Q4 25 | $54.6B | $2.4B | ||
| Q3 25 | $54.6B | $2.4B | ||
| Q2 25 | $56.2B | $2.3B | ||
| Q1 25 | $57.4B | $2.3B | ||
| Q4 24 | $60.1B | $2.4B | ||
| Q3 24 | $60.4B | $2.3B | ||
| Q2 24 | $62.6B | $2.7B | ||
| Q1 24 | $64.0B | $2.7B |
股东权益AMGNEHC
| Q4 25 | $8.7B | $2.4B | ||
| Q3 25 | $9.6B | $2.4B | ||
| Q2 25 | $7.4B | $2.3B | ||
| Q1 25 | $6.2B | $2.2B | ||
| Q4 24 | $5.9B | $2.1B | ||
| Q3 24 | $7.5B | $2.0B | ||
| Q2 24 | $5.9B | $1.8B | ||
| Q1 24 | $5.0B | $1.7B |
总资产AMGNEHC
| Q4 25 | $90.6B | $7.1B | ||
| Q3 25 | $90.1B | $6.9B | ||
| Q2 25 | $87.9B | $6.8B | ||
| Q1 25 | $89.4B | $6.6B | ||
| Q4 24 | $91.8B | $6.5B | ||
| Q3 24 | $90.9B | $6.5B | ||
| Q2 24 | $90.9B | $6.4B | ||
| Q1 24 | $93.0B | $6.2B |
负债/权益比AMGNEHC
| Q4 25 | 6.31× | 1.00× | ||
| Q3 25 | 5.67× | 1.01× | ||
| Q2 25 | 7.57× | 1.02× | ||
| Q1 25 | 9.24× | 1.08× | ||
| Q4 24 | 10.23× | 1.14× | ||
| Q3 24 | 8.02× | 1.20× | ||
| Q2 24 | 10.57× | 1.46× | ||
| Q1 24 | 12.75× | 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 | $1.6B | $346.0M |
| 自由现金流经营现金流 - 资本支出 | $961.0M | $116.7M |
| 自由现金流率自由现金流/营收 | 9.7% | 7.6% |
| 资本支出强度资本支出/营收 | 6.5% | 14.8% |
| 现金转化率经营现金流/净利润 | 1.20× | 2.37× |
| 过去12个月自由现金流最近4个季度 | $8.1B | $439.2M |
8季度趋势，按日历期对齐
经营现金流AMGNEHC
| Q4 25 | $1.6B | $346.0M | ||
| Q3 25 | $4.7B | $270.8M | ||
| Q2 25 | $2.3B | $270.2M | ||
| Q1 25 | $1.4B | $288.6M | ||
| Q4 24 | $4.8B | $278.8M | ||
| Q3 24 | $3.6B | $267.8M | ||
| Q2 24 | $2.5B | $217.4M | ||
| Q1 24 | $689.0M | $238.8M |
自由现金流AMGNEHC
| Q4 25 | $961.0M | $116.7M | ||
| Q3 25 | $4.2B | $83.7M | ||
| Q2 25 | $1.9B | $113.3M | ||
| Q1 25 | $980.0M | $125.5M | ||
| Q4 24 | $4.4B | $80.1M | ||
| Q3 24 | $3.3B | $120.3M | ||
| Q2 24 | $2.2B | $60.5M | ||
| Q1 24 | $459.0M | $99.4M |
自由现金流率AMGNEHC
| Q4 25 | 9.7% | 7.6% | ||
| Q3 25 | 44.4% | 5.7% | ||
| Q2 25 | 20.8% | 7.8% | ||
| Q1 25 | 12.0% | 8.6% | ||
| Q4 24 | 48.4% | 5.7% | ||
| Q3 24 | 39.0% | 8.9% | ||
| Q2 24 | 26.5% | 4.6% | ||
| Q1 24 | 6.2% | 7.6% |
资本支出强度AMGNEHC
| Q4 25 | 6.5% | 14.8% | ||
| Q3 25 | 4.6% | 12.7% | ||
| Q2 25 | 4.0% | 10.8% | ||
| Q1 25 | 5.0% | 11.2% | ||
| Q4 24 | 4.1% | 14.1% | ||
| Q3 24 | 3.0% | 10.9% | ||
| Q2 24 | 2.8% | 12.1% | ||
| Q1 24 | 3.1% | 10.6% |
现金转化率AMGNEHC
| Q4 25 | 1.20× | 2.37× | ||
| Q3 25 | 1.46× | 2.14× | ||
| Q2 25 | 1.59× | 1.90× | ||
| Q1 25 | 0.80× | 1.90× | ||
| Q4 24 | 7.61× | 2.31× | ||
| Q3 24 | 1.26× | 2.48× | ||
| Q2 24 | 3.30× | 1.91× | ||
| Q1 24 | — | 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
AMGN
| Products | $9.4B | 95% |
| Xgeva | $291.0M | 3% |
| Vectibix | $163.0M | 2% |
| Aranesp | $115.0M | 1% |
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% |
