vs
安进（AMGN）与TENET HEALTHCARE CORP（THC）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TENET HEALTHCARE CORP的1.8倍（$9.9B vs $5.5B）。安进净利率更高（13.5% vs 11.7%，领先1.9%）。TENET HEALTHCARE CORP同比增速更快（9.0% vs 8.6%）。安进自由现金流更多（$961.0M vs $367.0M）。过去两年安进的营收复合增速更高（15.1% vs 1.5%）
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。
Tenet Healthcare Corporation是总部位于美国达拉斯的营利性跨国医疗服务企业，旗下拥有USPI等多个品牌、子公司、合资企业及合作主体，运营65家医院及超过450个医疗设施，还通过旗下Conifer Health Solutions为各类医疗系统及其他客户提供专业医疗支持服务
AMGN vs THC — 直观对比
营收规模更大
AMGN
是对方的1.8倍
$5.5B
营收增速更快
THC
高出0.4%
8.6%
净利率更高
AMGN
高出1.9%
11.7%
自由现金流更多
AMGN
多$594.0M
$367.0M
两年增速更快
AMGN
近两年复合增速
1.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $5.5B |
| 净利润 | $1.3B | $644.0M |
| 毛利率 | 69.8% | — |
| 营业利润率 | 27.6% | 15.4% |
| 净利率 | 13.5% | 11.7% |
| 营收同比 | 8.6% | 9.0% |
| 净利润同比 | 112.6% | 12.6% |
| 每股收益（稀释后） | $2.45 | $4.22 |
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AMGNTHC
| Q4 25 | $9.9B | $5.5B | ||
| Q3 25 | $9.6B | $5.3B | ||
| Q2 25 | $9.2B | $5.3B | ||
| Q1 25 | $8.1B | $5.2B | ||
| Q4 24 | $9.1B | $5.1B | ||
| Q3 24 | $8.5B | $5.1B | ||
| Q2 24 | $8.4B | $5.1B | ||
| Q1 24 | $7.4B | $5.4B |
净利润AMGNTHC
| Q4 25 | $1.3B | $644.0M | ||
| Q3 25 | $3.2B | $579.0M | ||
| Q2 25 | $1.4B | $522.0M | ||
| Q1 25 | $1.7B | $622.0M | ||
| Q4 24 | $627.0M | $572.0M | ||
| Q3 24 | $2.8B | $681.0M | ||
| Q2 24 | $746.0M | $477.0M | ||
| Q1 24 | $-113.0M | $2.3B |
毛利率AMGNTHC
| 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AMGNTHC
| Q4 25 | 27.6% | 15.4% | ||
| Q3 25 | 26.4% | 16.8% | ||
| Q2 25 | 28.9% | 15.6% | ||
| Q1 25 | 14.5% | 18.1% | ||
| Q4 24 | 25.4% | 16.2% | ||
| Q3 24 | 24.1% | 21.3% | ||
| Q2 24 | 22.8% | 14.9% | ||
| Q1 24 | 13.3% | 61.2% |
净利率AMGNTHC
| Q4 25 | 13.5% | 11.7% | ||
| Q3 25 | 33.7% | 10.9% | ||
| Q2 25 | 15.6% | 9.9% | ||
| Q1 25 | 21.2% | 11.9% | ||
| Q4 24 | 6.9% | 11.3% | ||
| Q3 24 | 33.3% | 13.3% | ||
| Q2 24 | 8.9% | 9.3% | ||
| Q1 24 | -1.5% | 43.5% |
每股收益（稀释后）AMGNTHC
| Q4 25 | $2.45 | $4.22 | ||
| Q3 25 | $5.93 | $3.86 | ||
| Q2 25 | $2.65 | $3.14 | ||
| Q1 25 | $3.20 | $4.27 | ||
| Q4 24 | $1.17 | $3.79 | ||
| Q3 24 | $5.22 | $4.89 | ||
| Q2 24 | $1.38 | $2.64 | ||
| Q1 24 | $-0.21 | $21.38 |
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 | $2.9B |
| 总债务越低越好 | $54.6B | $13.1B |
| 股东权益账面价值 | $8.7B | $4.2B |
| 总资产 | $90.6B | $29.7B |
| 负债/权益比越低杠杆越低 | 6.31× | 3.10× |
8季度趋势，按日历期对齐
现金及短期投资AMGNTHC
| Q4 25 | $9.1B | $2.9B | ||
| Q3 25 | $9.4B | $3.0B | ||
| Q2 25 | $8.0B | $2.6B | ||
| Q1 25 | $8.8B | $3.0B | ||
| Q4 24 | $12.0B | $3.0B | ||
| Q3 24 | $9.0B | $4.1B | ||
| Q2 24 | $9.3B | $2.9B | ||
| Q1 24 | $9.7B | $2.5B |
总债务AMGNTHC
| Q4 25 | $54.6B | $13.1B | ||
| Q3 25 | $54.6B | $13.1B | ||
| Q2 25 | $56.2B | $13.1B | ||
| Q1 25 | $57.4B | $13.1B | ||
| Q4 24 | $60.1B | $13.1B | ||
| Q3 24 | $60.4B | $12.8B | ||
| Q2 24 | $62.6B | $12.8B | ||
| Q1 24 | $64.0B | $12.8B |
股东权益AMGNTHC
| Q4 25 | $8.7B | $4.2B | ||
| Q3 25 | $9.6B | $4.0B | ||
| Q2 25 | $7.4B | $3.7B | ||
| Q1 25 | $6.2B | $4.2B | ||
| Q4 24 | $5.9B | $4.2B | ||
| Q3 24 | $7.5B | $3.8B | ||
| Q2 24 | $5.9B | $3.5B | ||
| Q1 24 | $5.0B | $3.5B |
总资产AMGNTHC
| Q4 25 | $90.6B | $29.7B | ||
| Q3 25 | $90.1B | $29.4B | ||
| Q2 25 | $87.9B | $28.7B | ||
| Q1 25 | $89.4B | $29.2B | ||
| Q4 24 | $91.8B | $28.9B | ||
| Q3 24 | $90.9B | $29.4B | ||
| Q2 24 | $90.9B | $29.3B | ||
| Q1 24 | $93.0B | $28.9B |
负债/权益比AMGNTHC
| Q4 25 | 6.31× | 3.10× | ||
| Q3 25 | 5.67× | 3.26× | ||
| Q2 25 | 7.57× | 3.49× | ||
| Q1 25 | 9.24× | 3.13× | ||
| Q4 24 | 10.23× | 3.14× | ||
| Q3 24 | 8.02× | 3.33× | ||
| Q2 24 | 10.57× | 3.67× | ||
| Q1 24 | 12.75× | 3.70× |
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 | $731.0M |
| 自由现金流经营现金流 - 资本支出 | $961.0M | $367.0M |
| 自由现金流率自由现金流/营收 | 9.7% | 6.6% |
| 资本支出强度资本支出/营收 | 6.5% | 6.6% |
| 现金转化率经营现金流/净利润 | 1.20× | 1.14× |
| 过去12个月自由现金流最近4个季度 | $8.1B | $2.5B |
8季度趋势，按日历期对齐
经营现金流AMGNTHC
| Q4 25 | $1.6B | $731.0M | ||
| Q3 25 | $4.7B | $1.1B | ||
| Q2 25 | $2.3B | $936.0M | ||
| Q1 25 | $1.4B | $815.0M | ||
| Q4 24 | $4.8B | $-331.0M | ||
| Q3 24 | $3.6B | $1.0B | ||
| Q2 24 | $2.5B | $747.0M | ||
| Q1 24 | $689.0M | $586.0M |
自由现金流AMGNTHC
| Q4 25 | $961.0M | $367.0M | ||
| Q3 25 | $4.2B | $778.0M | ||
| Q2 25 | $1.9B | $743.0M | ||
| Q1 25 | $980.0M | $642.0M | ||
| Q4 24 | $4.4B | $-661.0M | ||
| Q3 24 | $3.3B | $829.0M | ||
| Q2 24 | $2.2B | $602.0M | ||
| Q1 24 | $459.0M | $346.0M |
自由现金流率AMGNTHC
| Q4 25 | 9.7% | 6.6% | ||
| Q3 25 | 44.4% | 14.7% | ||
| Q2 25 | 20.8% | 14.1% | ||
| Q1 25 | 12.0% | 12.3% | ||
| Q4 24 | 48.4% | -13.0% | ||
| Q3 24 | 39.0% | 16.2% | ||
| Q2 24 | 26.5% | 11.8% | ||
| Q1 24 | 6.2% | 6.4% |
资本支出强度AMGNTHC
| Q4 25 | 6.5% | 6.6% | ||
| Q3 25 | 4.6% | 5.3% | ||
| Q2 25 | 4.0% | 3.7% | ||
| Q1 25 | 5.0% | 3.3% | ||
| Q4 24 | 4.1% | 6.5% | ||
| Q3 24 | 3.0% | 4.2% | ||
| Q2 24 | 2.8% | 2.8% | ||
| Q1 24 | 3.1% | 4.5% |
现金转化率AMGNTHC
| Q4 25 | 1.20× | 1.14× | ||
| Q3 25 | 1.46× | 1.83× | ||
| Q2 25 | 1.59× | 1.79× | ||
| Q1 25 | 0.80× | 1.31× | ||
| Q4 24 | 7.61× | -0.58× | ||
| Q3 24 | 1.26× | 1.53× | ||
| Q2 24 | 3.30× | 1.57× | ||
| Q1 24 | — | 0.25× |
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% |
THC
| Other | $2.9B | 52% |
| Health Care Patient Service | $1.4B | 25% |
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.2B | 22% |
| Health Care Other Sources | $56.0M | 1% |
