vs
AMN HEALTHCARE SERVICES INC（AMN）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
Surgery Partners, Inc.的季度营收约是AMN HEALTHCARE SERVICES INC的1.2倍（$885.0M vs $748.2M），AMN HEALTHCARE SERVICES INC净利率更高（-1.0% vs -1.7%，领先0.7%），Surgery Partners, Inc.同比增速更快（2.4% vs 1.8%），Surgery Partners, Inc.自由现金流更多（$90.6M vs $67.6M），过去两年Surgery Partners, Inc.的营收复合增速更高（11.1% vs -4.5%）
AMN医疗保健服务公司是美国领先的医疗人力资源解决方案提供商，主要为医院、诊所等各类医疗机构提供护士、医师、医技人员及其他临床、非临床岗位的临时与长期派遣服务，同时提供医护团队管理技术支持及相关咨询服务。
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。
AMN vs SGRY — 直观对比
营收规模更大
SGRY
是对方的1.2倍
$748.2M
营收增速更快
SGRY
高出0.5%
1.8%
净利率更高
AMN
高出0.7%
-1.7%
自由现金流更多
SGRY
多$23.0M
$67.6M
两年增速更快
SGRY
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $748.2M | $885.0M |
| 净利润 | $-7.7M | $-15.0M |
| 毛利率 | 26.1% | — |
| 营业利润率 | 1.1% | 12.5% |
| 净利率 | -1.0% | -1.7% |
| 营收同比 | 1.8% | 2.4% |
| 净利润同比 | 95.9% | 86.2% |
| 每股收益（稀释后） | $-0.19 | $-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AMNSGRY
| Q4 25 | $748.2M | $885.0M | ||
| Q3 25 | $634.5M | $821.5M | ||
| Q2 25 | $658.2M | $826.2M | ||
| Q1 25 | $689.5M | $776.0M | ||
| Q4 24 | $734.7M | $864.4M | ||
| Q3 24 | $687.5M | $770.4M | ||
| Q2 24 | $740.7M | $762.1M | ||
| Q1 24 | $820.9M | $717.4M |
净利润AMNSGRY
| Q4 25 | $-7.7M | $-15.0M | ||
| Q3 25 | $29.3M | $-22.7M | ||
| Q2 25 | $-116.2M | $-2.5M | ||
| Q1 25 | $-1.1M | $-37.7M | ||
| Q4 24 | $-187.5M | $-108.5M | ||
| Q3 24 | $7.0M | $-31.7M | ||
| Q2 24 | $16.2M | $-15.5M | ||
| Q1 24 | $17.3M | $-12.4M |
毛利率AMNSGRY
| Q4 25 | 26.1% | — | ||
| Q3 25 | 29.1% | — | ||
| Q2 25 | 29.8% | — | ||
| Q1 25 | 28.7% | — | ||
| Q4 24 | 29.8% | — | ||
| Q3 24 | 31.0% | — | ||
| Q2 24 | 31.0% | — | ||
| Q1 24 | 31.4% | — |
营业利润率AMNSGRY
| Q4 25 | 1.1% | 12.5% | ||
| Q3 25 | 7.5% | 12.9% | ||
| Q2 25 | -18.8% | 13.5% | ||
| Q1 25 | 1.8% | 8.0% | ||
| Q4 24 | -27.6% | 14.7% | ||
| Q3 24 | 3.2% | 7.9% | ||
| Q2 24 | 5.1% | 11.1% | ||
| Q1 24 | 4.9% | 10.6% |
净利率AMNSGRY
| Q4 25 | -1.0% | -1.7% | ||
| Q3 25 | 4.6% | -2.8% | ||
| Q2 25 | -17.7% | -0.3% | ||
| Q1 25 | -0.2% | -4.9% | ||
| Q4 24 | -25.5% | -12.6% | ||
| Q3 24 | 1.0% | -4.1% | ||
| Q2 24 | 2.2% | -2.0% | ||
| Q1 24 | 2.1% | -1.7% |
每股收益（稀释后）AMNSGRY
| Q4 25 | $-0.19 | $-0.11 | ||
| Q3 25 | $0.76 | $-0.18 | ||
| Q2 25 | $-3.02 | $-0.02 | ||
| Q1 25 | $-0.03 | $-0.30 | ||
| Q4 24 | $-4.90 | $-0.86 | ||
| Q3 24 | $0.18 | $-0.25 | ||
| Q2 24 | $0.42 | $-0.12 | ||
| Q1 24 | $0.45 | $-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 | $34.0M | $239.9M |
| 总债务越低越好 | $767.1M | $3.6B |
| 股东权益账面价值 | $642.1M | $1.7B |
| 总资产 | $2.1B | $8.1B |
| 负债/权益比越低杠杆越低 | 1.19× | 2.10× |
8季度趋势，按日历期对齐
现金及短期投资AMNSGRY
| Q4 25 | $34.0M | $239.9M | ||
| Q3 25 | $52.6M | $203.4M | ||
| Q2 25 | $41.5M | $250.1M | ||
| Q1 25 | $55.8M | $229.3M | ||
| Q4 24 | $10.6M | $269.5M | ||
| Q3 24 | $30.6M | $221.8M | ||
| Q2 24 | $48.0M | $213.5M | ||
| Q1 24 | $50.6M | $185.2M |
总债务AMNSGRY
| Q4 25 | $767.1M | $3.6B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.5B | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | $1.1B | $3.3B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $2.8B |
股东权益AMNSGRY
| Q4 25 | $642.1M | $1.7B | ||
| Q3 25 | $644.4M | $1.7B | ||
| Q2 25 | $607.6M | $1.7B | ||
| Q1 25 | $715.1M | $1.7B | ||
| Q4 24 | $706.6M | $1.8B | ||
| Q3 24 | $890.7M | $1.9B | ||
| Q2 24 | $876.9M | $2.0B | ||
| Q1 24 | $854.2M | $2.0B |
总资产AMNSGRY
| Q4 25 | $2.1B | $8.1B | ||
| Q3 25 | $2.1B | $7.9B | ||
| Q2 25 | $2.2B | $8.0B | ||
| Q1 25 | $2.4B | $7.9B | ||
| Q4 24 | $2.4B | $7.9B | ||
| Q3 24 | $2.7B | $7.5B | ||
| Q2 24 | $2.8B | $7.5B | ||
| Q1 24 | $2.9B | $7.0B |
负债/权益比AMNSGRY
| Q4 25 | 1.19× | 2.10× | ||
| Q3 25 | — | 2.00× | ||
| Q2 25 | — | 1.98× | ||
| Q1 25 | — | 1.98× | ||
| Q4 24 | 1.49× | 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 | $75.6M | $103.4M |
| 自由现金流经营现金流 - 资本支出 | $67.6M | $90.6M |
| 自由现金流率自由现金流/营收 | 9.0% | 10.2% |
| 资本支出强度资本支出/营收 | 1.1% | 1.4% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $233.8M | $195.6M |
8季度趋势，按日历期对齐
经营现金流AMNSGRY
| Q4 25 | $75.6M | $103.4M | ||
| Q3 25 | $22.7M | $83.6M | ||
| Q2 25 | $78.5M | $81.3M | ||
| Q1 25 | $92.7M | $6.0M | ||
| Q4 24 | $72.8M | $111.4M | ||
| Q3 24 | $66.7M | $65.2M | ||
| Q2 24 | $99.5M | $82.8M | ||
| Q1 24 | $81.4M | $40.7M |
自由现金流AMNSGRY
| Q4 25 | $67.6M | $90.6M | ||
| Q3 25 | $14.8M | $63.8M | ||
| Q2 25 | $68.7M | $57.9M | ||
| Q1 25 | $82.7M | $-16.7M | ||
| Q4 24 | $56.6M | $89.1M | ||
| Q3 24 | $47.4M | $45.0M | ||
| Q2 24 | $72.2M | $55.9M | ||
| Q1 24 | $63.2M | $19.7M |
自由现金流率AMNSGRY
| Q4 25 | 9.0% | 10.2% | ||
| Q3 25 | 2.3% | 7.8% | ||
| Q2 25 | 10.4% | 7.0% | ||
| Q1 25 | 12.0% | -2.2% | ||
| Q4 24 | 7.7% | 10.3% | ||
| Q3 24 | 6.9% | 5.8% | ||
| Q2 24 | 9.8% | 7.3% | ||
| Q1 24 | 7.7% | 2.7% |
资本支出强度AMNSGRY
| Q4 25 | 1.1% | 1.4% | ||
| Q3 25 | 1.2% | 2.4% | ||
| Q2 25 | 1.5% | 2.8% | ||
| Q1 25 | 1.4% | 2.9% | ||
| Q4 24 | 2.2% | 2.6% | ||
| Q3 24 | 2.8% | 2.6% | ||
| Q2 24 | 3.7% | 3.5% | ||
| Q1 24 | 2.2% | 2.9% |
现金转化率AMNSGRY
| Q4 25 | — | — | ||
| Q3 25 | 0.77× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 9.54× | — | ||
| Q2 24 | 6.13× | — | ||
| Q1 24 | 4.70× | — |
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
AMN
| Travel Nurse Staffing | $208.3M | 28% |
| Allied Staffing | $146.9M | 20% |
| Labor Disruption Services | $124.3M | 17% |
| Technology And Workforce Solutions | $88.0M | 12% |
| Language Services | $69.9M | 9% |
| Other | $29.6M | 4% |
| International Nurse Staffing | $29.6M | 4% |
| Interim Leadership Staffing | $24.1M | 3% |
| Vendor Management Systems | $16.3M | 2% |
| Local Staffing | $8.6M | 1% |
| International Nurse Permanent Placement | $2.6M | 0% |
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% |
