vs
安进（AMGN）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
安进的季度营收约是Surgery Partners, Inc.的11.1倍（$9.9B vs $885.0M）。安进净利率更高（13.5% vs -1.7%，领先15.2%）。安进同比增速更快（8.6% vs 2.4%）。安进自由现金流更多（$961.0M vs $90.6M）。过去两年安进的营收复合增速更高（15.1% vs 11.1%）
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。
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。
AMGN vs SGRY — 直观对比
营收规模更大
AMGN
是对方的11.1倍
$885.0M
营收增速更快
AMGN
高出6.2%
2.4%
净利率更高
AMGN
高出15.2%
-1.7%
自由现金流更多
AMGN
多$870.4M
$90.6M
两年增速更快
AMGN
近两年复合增速
11.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $885.0M |
| 净利润 | $1.3B | $-15.0M |
| 毛利率 | 69.8% | — |
| 营业利润率 | 27.6% | 12.5% |
| 净利率 | 13.5% | -1.7% |
| 营收同比 | 8.6% | 2.4% |
| 净利润同比 | 112.6% | 86.2% |
| 每股收益（稀释后） | $2.45 | $-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AMGNSGRY
| Q4 25 | $9.9B | $885.0M | ||
| Q3 25 | $9.6B | $821.5M | ||
| Q2 25 | $9.2B | $826.2M | ||
| Q1 25 | $8.1B | $776.0M | ||
| Q4 24 | $9.1B | $864.4M | ||
| Q3 24 | $8.5B | $770.4M | ||
| Q2 24 | $8.4B | $762.1M | ||
| Q1 24 | $7.4B | $717.4M |
净利润AMGNSGRY
| Q4 25 | $1.3B | $-15.0M | ||
| Q3 25 | $3.2B | $-22.7M | ||
| Q2 25 | $1.4B | $-2.5M | ||
| Q1 25 | $1.7B | $-37.7M | ||
| Q4 24 | $627.0M | $-108.5M | ||
| Q3 24 | $2.8B | $-31.7M | ||
| Q2 24 | $746.0M | $-15.5M | ||
| Q1 24 | $-113.0M | $-12.4M |
毛利率AMGNSGRY
| 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AMGNSGRY
| Q4 25 | 27.6% | 12.5% | ||
| Q3 25 | 26.4% | 12.9% | ||
| Q2 25 | 28.9% | 13.5% | ||
| Q1 25 | 14.5% | 8.0% | ||
| Q4 24 | 25.4% | 14.7% | ||
| Q3 24 | 24.1% | 7.9% | ||
| Q2 24 | 22.8% | 11.1% | ||
| Q1 24 | 13.3% | 10.6% |
净利率AMGNSGRY
| Q4 25 | 13.5% | -1.7% | ||
| Q3 25 | 33.7% | -2.8% | ||
| Q2 25 | 15.6% | -0.3% | ||
| Q1 25 | 21.2% | -4.9% | ||
| Q4 24 | 6.9% | -12.6% | ||
| Q3 24 | 33.3% | -4.1% | ||
| Q2 24 | 8.9% | -2.0% | ||
| Q1 24 | -1.5% | -1.7% |
每股收益（稀释后）AMGNSGRY
| Q4 25 | $2.45 | $-0.11 | ||
| Q3 25 | $5.93 | $-0.18 | ||
| Q2 25 | $2.65 | $-0.02 | ||
| Q1 25 | $3.20 | $-0.30 | ||
| Q4 24 | $1.17 | $-0.86 | ||
| Q3 24 | $5.22 | $-0.25 | ||
| Q2 24 | $1.38 | $-0.12 | ||
| Q1 24 | $-0.21 | $-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 | $9.1B | $239.9M |
| 总债务越低越好 | $54.6B | $3.6B |
| 股东权益账面价值 | $8.7B | $1.7B |
| 总资产 | $90.6B | $8.1B |
| 负债/权益比越低杠杆越低 | 6.31× | 2.10× |
8季度趋势，按日历期对齐
现金及短期投资AMGNSGRY
| Q4 25 | $9.1B | $239.9M | ||
| Q3 25 | $9.4B | $203.4M | ||
| Q2 25 | $8.0B | $250.1M | ||
| Q1 25 | $8.8B | $229.3M | ||
| Q4 24 | $12.0B | $269.5M | ||
| Q3 24 | $9.0B | $221.8M | ||
| Q2 24 | $9.3B | $213.5M | ||
| Q1 24 | $9.7B | $185.2M |
总债务AMGNSGRY
| Q4 25 | $54.6B | $3.6B | ||
| Q3 25 | $54.6B | $3.5B | ||
| Q2 25 | $56.2B | $3.5B | ||
| Q1 25 | $57.4B | $3.4B | ||
| Q4 24 | $60.1B | $3.3B | ||
| Q3 24 | $60.4B | $3.1B | ||
| Q2 24 | $62.6B | $3.0B | ||
| Q1 24 | $64.0B | $2.8B |
股东权益AMGNSGRY
| Q4 25 | $8.7B | $1.7B | ||
| Q3 25 | $9.6B | $1.7B | ||
| Q2 25 | $7.4B | $1.7B | ||
| Q1 25 | $6.2B | $1.7B | ||
| Q4 24 | $5.9B | $1.8B | ||
| Q3 24 | $7.5B | $1.9B | ||
| Q2 24 | $5.9B | $2.0B | ||
| Q1 24 | $5.0B | $2.0B |
总资产AMGNSGRY
| Q4 25 | $90.6B | $8.1B | ||
| Q3 25 | $90.1B | $7.9B | ||
| Q2 25 | $87.9B | $8.0B | ||
| Q1 25 | $89.4B | $7.9B | ||
| Q4 24 | $91.8B | $7.9B | ||
| Q3 24 | $90.9B | $7.5B | ||
| Q2 24 | $90.9B | $7.5B | ||
| Q1 24 | $93.0B | $7.0B |
负债/权益比AMGNSGRY
| Q4 25 | 6.31× | 2.10× | ||
| Q3 25 | 5.67× | 2.00× | ||
| Q2 25 | 7.57× | 1.98× | ||
| Q1 25 | 9.24× | 1.98× | ||
| Q4 24 | 10.23× | 1.83× | ||
| Q3 24 | 8.02× | 1.63× | ||
| Q2 24 | 10.57× | 1.56× | ||
| Q1 24 | 12.75× | 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 | $1.6B | $103.4M |
| 自由现金流经营现金流 - 资本支出 | $961.0M | $90.6M |
| 自由现金流率自由现金流/营收 | 9.7% | 10.2% |
| 资本支出强度资本支出/营收 | 6.5% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.20× | — |
| 过去12个月自由现金流最近4个季度 | $8.1B | $195.6M |
8季度趋势，按日历期对齐
经营现金流AMGNSGRY
| Q4 25 | $1.6B | $103.4M | ||
| Q3 25 | $4.7B | $83.6M | ||
| Q2 25 | $2.3B | $81.3M | ||
| Q1 25 | $1.4B | $6.0M | ||
| Q4 24 | $4.8B | $111.4M | ||
| Q3 24 | $3.6B | $65.2M | ||
| Q2 24 | $2.5B | $82.8M | ||
| Q1 24 | $689.0M | $40.7M |
自由现金流AMGNSGRY
| Q4 25 | $961.0M | $90.6M | ||
| Q3 25 | $4.2B | $63.8M | ||
| Q2 25 | $1.9B | $57.9M | ||
| Q1 25 | $980.0M | $-16.7M | ||
| Q4 24 | $4.4B | $89.1M | ||
| Q3 24 | $3.3B | $45.0M | ||
| Q2 24 | $2.2B | $55.9M | ||
| Q1 24 | $459.0M | $19.7M |
自由现金流率AMGNSGRY
| Q4 25 | 9.7% | 10.2% | ||
| Q3 25 | 44.4% | 7.8% | ||
| Q2 25 | 20.8% | 7.0% | ||
| Q1 25 | 12.0% | -2.2% | ||
| Q4 24 | 48.4% | 10.3% | ||
| Q3 24 | 39.0% | 5.8% | ||
| Q2 24 | 26.5% | 7.3% | ||
| Q1 24 | 6.2% | 2.7% |
资本支出强度AMGNSGRY
| Q4 25 | 6.5% | 1.4% | ||
| Q3 25 | 4.6% | 2.4% | ||
| Q2 25 | 4.0% | 2.8% | ||
| Q1 25 | 5.0% | 2.9% | ||
| Q4 24 | 4.1% | 2.6% | ||
| Q3 24 | 3.0% | 2.6% | ||
| Q2 24 | 2.8% | 3.5% | ||
| Q1 24 | 3.1% | 2.9% |
现金转化率AMGNSGRY
| Q4 25 | 1.20× | — | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.59× | — | ||
| Q1 25 | 0.80× | — | ||
| Q4 24 | 7.61× | — | ||
| Q3 24 | 1.26× | — | ||
| Q2 24 | 3.30× | — | ||
| Q1 24 | — | — |
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% |
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% |
