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AMN HEALTHCARE SERVICES INC（AMN）与Teladoc Health, Inc.（TDOC）财务数据对比。点击上方公司名可切换其他公司
AMN HEALTHCARE SERVICES INC的季度营收约是Teladoc Health, Inc.的1.2倍（$748.2M vs $642.3M），AMN HEALTHCARE SERVICES INC同比增速更快（1.8% vs 0.3%），Teladoc Health, Inc.自由现金流更多（$85.1M vs $67.6M），过去两年Teladoc Health, Inc.的营收复合增速更高（-0.3% 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。
泰莱达克健康是一家跨国远程医疗与虚拟医疗企业，2002年成立，总部位于美国纽约。公司核心业务涵盖远程问诊、医学意见咨询、人工智能与数据分析、远程医疗设备及可授权平台服务，主要通过电话、视频会议软件与移动应用，为用户提供随时可及的远程医疗服务。
AMN vs TDOC — 直观对比
营收规模更大
AMN
是对方的1.2倍
$642.3M
营收增速更快
AMN
高出1.6%
0.3%
自由现金流更多
TDOC
多$17.5M
$67.6M
两年增速更快
TDOC
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $748.2M | $642.3M |
| 净利润 | $-7.7M | — |
| 毛利率 | 26.1% | — |
| 营业利润率 | 1.1% | -5.6% |
| 净利率 | -1.0% | — |
| 营收同比 | 1.8% | 0.3% |
| 净利润同比 | 95.9% | — |
| 每股收益（稀释后） | $-0.19 | $-0.14 |
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AMNTDOC
| Q4 25 | $748.2M | $642.3M | ||
| Q3 25 | $634.5M | $626.4M | ||
| Q2 25 | $658.2M | $631.9M | ||
| Q1 25 | $689.5M | $629.4M | ||
| Q4 24 | $734.7M | $640.5M | ||
| Q3 24 | $687.5M | $640.5M | ||
| Q2 24 | $740.7M | $642.4M | ||
| Q1 24 | $820.9M | $646.1M |
净利润AMNTDOC
| Q4 25 | $-7.7M | — | ||
| Q3 25 | $29.3M | $-49.5M | ||
| Q2 25 | $-116.2M | $-32.7M | ||
| Q1 25 | $-1.1M | $-93.0M | ||
| Q4 24 | $-187.5M | — | ||
| Q3 24 | $7.0M | $-33.3M | ||
| Q2 24 | $16.2M | $-837.7M | ||
| Q1 24 | $17.3M | $-81.9M |
毛利率AMNTDOC
| 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AMNTDOC
| Q4 25 | 1.1% | -5.6% | ||
| Q3 25 | 7.5% | -8.3% | ||
| Q2 25 | -18.8% | -8.6% | ||
| Q1 25 | 1.8% | -19.2% | ||
| Q4 24 | -27.6% | -7.5% | ||
| Q3 24 | 3.2% | -6.9% | ||
| Q2 24 | 5.1% | -130.9% | ||
| Q1 24 | 4.9% | -13.5% |
净利率AMNTDOC
| Q4 25 | -1.0% | — | ||
| Q3 25 | 4.6% | -7.9% | ||
| Q2 25 | -17.7% | -5.2% | ||
| Q1 25 | -0.2% | -14.8% | ||
| Q4 24 | -25.5% | — | ||
| Q3 24 | 1.0% | -5.2% | ||
| Q2 24 | 2.2% | -130.4% | ||
| Q1 24 | 2.1% | -12.7% |
每股收益（稀释后）AMNTDOC
| Q4 25 | $-0.19 | $-0.14 | ||
| Q3 25 | $0.76 | $-0.28 | ||
| Q2 25 | $-3.02 | $-0.19 | ||
| Q1 25 | $-0.03 | $-0.53 | ||
| Q4 24 | $-4.90 | $-0.27 | ||
| Q3 24 | $0.18 | $-0.19 | ||
| Q2 24 | $0.42 | $-4.92 | ||
| Q1 24 | $0.45 | $-0.49 |
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 | $781.1M |
| 总债务越低越好 | $767.1M | — |
| 股东权益账面价值 | $642.1M | $1.4B |
| 总资产 | $2.1B | $2.9B |
| 负债/权益比越低杠杆越低 | 1.19× | — |
8季度趋势，按日历期对齐
现金及短期投资AMNTDOC
| Q4 25 | $34.0M | $781.1M | ||
| Q3 25 | $52.6M | $726.2M | ||
| Q2 25 | $41.5M | $679.6M | ||
| Q1 25 | $55.8M | $1.2B | ||
| Q4 24 | $10.6M | $1.3B | ||
| Q3 24 | $30.6M | $1.2B | ||
| Q2 24 | $48.0M | $1.2B | ||
| Q1 24 | $50.6M | $1.1B |
总债务AMNTDOC
| Q4 25 | $767.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AMNTDOC
| Q4 25 | $642.1M | $1.4B | ||
| Q3 25 | $644.4M | $1.4B | ||
| Q2 25 | $607.6M | $1.4B | ||
| Q1 25 | $715.1M | $1.4B | ||
| Q4 24 | $706.6M | $1.5B | ||
| Q3 24 | $890.7M | $1.5B | ||
| Q2 24 | $876.9M | $1.5B | ||
| Q1 24 | $854.2M | $2.3B |
总资产AMNTDOC
| Q4 25 | $2.1B | $2.9B | ||
| Q3 25 | $2.1B | $2.9B | ||
| Q2 25 | $2.2B | $2.9B | ||
| Q1 25 | $2.4B | $3.4B | ||
| Q4 24 | $2.4B | $3.5B | ||
| Q3 24 | $2.7B | $3.5B | ||
| Q2 24 | $2.8B | $3.5B | ||
| Q1 24 | $2.9B | $4.3B |
负债/权益比AMNTDOC
| Q4 25 | 1.19× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $87.7M |
| 自由现金流经营现金流 - 资本支出 | $67.6M | $85.1M |
| 自由现金流率自由现金流/营收 | 9.0% | 13.3% |
| 资本支出强度资本支出/营收 | 1.1% | 0.4% |
| 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 | $285.5M |
8季度趋势，按日历期对齐
经营现金流AMNTDOC
| Q4 25 | $75.6M | $87.7M | ||
| Q3 25 | $22.7M | $99.3M | ||
| Q2 25 | $78.5M | $91.4M | ||
| Q1 25 | $92.7M | $15.9M | ||
| Q4 24 | $72.8M | $85.9M | ||
| Q3 24 | $66.7M | $110.2M | ||
| Q2 24 | $99.5M | $88.7M | ||
| Q1 24 | $81.4M | $8.9M |
自由现金流AMNTDOC
| Q4 25 | $67.6M | $85.1M | ||
| Q3 25 | $14.8M | $97.0M | ||
| Q2 25 | $68.7M | $90.2M | ||
| Q1 25 | $82.7M | $13.2M | ||
| Q4 24 | $56.6M | $79.8M | ||
| Q3 24 | $47.4M | $108.6M | ||
| Q2 24 | $72.2M | $86.8M | ||
| Q1 24 | $63.2M | $7.8M |
自由现金流率AMNTDOC
| Q4 25 | 9.0% | 13.3% | ||
| Q3 25 | 2.3% | 15.5% | ||
| Q2 25 | 10.4% | 14.3% | ||
| Q1 25 | 12.0% | 2.1% | ||
| Q4 24 | 7.7% | 12.5% | ||
| Q3 24 | 6.9% | 17.0% | ||
| Q2 24 | 9.8% | 13.5% | ||
| Q1 24 | 7.7% | 1.2% |
资本支出强度AMNTDOC
| Q4 25 | 1.1% | 0.4% | ||
| Q3 25 | 1.2% | 0.4% | ||
| Q2 25 | 1.5% | 0.2% | ||
| Q1 25 | 1.4% | 0.4% | ||
| Q4 24 | 2.2% | 1.0% | ||
| Q3 24 | 2.8% | 0.2% | ||
| Q2 24 | 3.7% | 0.3% | ||
| Q1 24 | 2.2% | 0.2% |
现金转化率AMNTDOC
| 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% |
TDOC
| Teladoc Health Integrated Care | $409.1M | 64% |
| Better Help | $233.2M | 36% |
