vs
American Well Corp（AMWL）与万事达卡（MA）财务数据对比。点击上方公司名可切换其他公司
万事达卡的季度营收约是American Well Corp的159.2倍（$8.8B vs $55.3M）。万事达卡净利率更高（46.1% vs -45.1%，领先91.2%）。万事达卡同比增速更快（17.6% vs -22.1%）。万事达卡自由现金流更多（$4.9B vs $-17.4M）。过去两年万事达卡的营收复合增速更高（17.8% vs -3.6%）
美国烟草公司由J.B.杜克于1890年整合多家美国烟草制造商合并创立，1896年成为道琼斯工业平均指数最初的12支成分股之一。该公司收购了好彩公司及超过200家竞争对手，一度垄断美国烟草行业。1907年美国联邦政府发起反垄断诉讼，最终将该公司分拆为多家企业。
万事达卡是总部位于美国纽约帕切斯的跨国支付卡服务企业，核心业务为处理商户收单银行与持卡人发卡机构之间的支付交易，同时提供旗下品牌借记卡、信用卡、预付卡及相关配套支付服务，服务网络覆盖全球，于2006年公开上市。
AMWL vs MA — 直观对比
营收规模更大
MA
是对方的159.2倍
$55.3M
营收增速更快
MA
高出39.7%
-22.1%
净利率更高
MA
高出91.2%
-45.1%
自由现金流更多
MA
多$4.9B
$-17.4M
两年增速更快
MA
近两年复合增速
-3.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $55.3M | $8.8B |
| 净利润 | $-24.9M | $4.1B |
| 毛利率 | — | — |
| 营业利润率 | -45.5% | 55.8% |
| 净利率 | -45.1% | 46.1% |
| 营收同比 | -22.1% | 17.6% |
| 净利润同比 | 41.6% | 21.5% |
| 每股收益（稀释后） | $-1.53 | $4.52 |
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AMWLMA
| Q4 25 | $55.3M | $8.8B | ||
| Q3 25 | $56.3M | $8.6B | ||
| Q2 25 | $70.9M | $8.1B | ||
| Q1 25 | $66.8M | $7.3B | ||
| Q4 24 | $71.0M | $7.5B | ||
| Q3 24 | $61.0M | $7.4B | ||
| Q2 24 | $62.8M | $7.0B | ||
| Q1 24 | $59.5M | $6.3B |
净利润AMWLMA
| Q4 25 | $-24.9M | $4.1B | ||
| Q3 25 | $-32.4M | $3.9B | ||
| Q2 25 | $-19.7M | $3.7B | ||
| Q1 25 | $-18.7M | $3.3B | ||
| Q4 24 | $-42.7M | $3.3B | ||
| Q3 24 | $-43.5M | $3.3B | ||
| Q2 24 | $-49.9M | $3.3B | ||
| Q1 24 | $-72.1M | $3.0B |
营业利润率AMWLMA
| Q4 25 | -45.5% | 55.8% | ||
| Q3 25 | -52.1% | 58.8% | ||
| Q2 25 | -28.7% | 58.7% | ||
| Q1 25 | -45.5% | 57.2% | ||
| Q4 24 | -60.2% | 52.6% | ||
| Q3 24 | -77.6% | 54.3% | ||
| Q2 24 | -83.4% | 58.0% | ||
| Q1 24 | -126.1% | 56.8% |
净利率AMWLMA
| Q4 25 | -45.1% | 46.1% | ||
| Q3 25 | -57.5% | 45.7% | ||
| Q2 25 | -27.8% | 45.5% | ||
| Q1 25 | -28.0% | 45.2% | ||
| Q4 24 | -60.1% | 44.6% | ||
| Q3 24 | -71.2% | 44.3% | ||
| Q2 24 | -79.5% | 46.8% | ||
| Q1 24 | -121.1% | 47.4% |
每股收益（稀释后）AMWLMA
| Q4 25 | $-1.53 | $4.52 | ||
| Q3 25 | $-2.00 | $4.34 | ||
| Q2 25 | $-1.24 | $4.07 | ||
| Q1 25 | $-1.19 | $3.59 | ||
| Q4 24 | $-2.71 | $3.64 | ||
| Q3 24 | $-2.87 | $3.53 | ||
| Q2 24 | $-3.36 | $3.50 | ||
| Q1 24 | $-4.94 | $3.22 |
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 | $182.3M | $10.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $235.6M | $7.7B |
| 总资产 | $323.8M | $54.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AMWLMA
| Q4 25 | $182.3M | $10.6B | ||
| Q3 25 | $200.9M | $10.3B | ||
| Q2 25 | $219.1M | $9.0B | ||
| Q1 25 | $222.4M | $7.6B | ||
| Q4 24 | $228.3M | $8.4B | ||
| Q3 24 | $244.6M | $11.1B | ||
| Q2 24 | $276.9M | $7.0B | ||
| Q1 24 | $308.6M | $7.3B |
股东权益AMWLMA
| Q4 25 | $235.6M | $7.7B | ||
| Q3 25 | $254.9M | $7.9B | ||
| Q2 25 | $282.6M | $7.9B | ||
| Q1 25 | $294.0M | $6.7B | ||
| Q4 24 | $304.8M | $6.5B | ||
| Q3 24 | $336.7M | $7.4B | ||
| Q2 24 | $363.9M | $7.4B | ||
| Q1 24 | $408.7M | $7.2B |
总资产AMWLMA
| Q4 25 | $323.8M | $54.2B | ||
| Q3 25 | $359.4M | $53.3B | ||
| Q2 25 | $388.7M | $51.4B | ||
| Q1 25 | $419.5M | $48.5B | ||
| Q4 24 | $436.0M | $48.1B | ||
| Q3 24 | $483.0M | $47.2B | ||
| Q2 24 | $507.8M | $42.3B | ||
| Q1 24 | $548.4M | $42.6B |
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 | $-17.4M | $5.0B |
| 自由现金流经营现金流 - 资本支出 | $-17.4M | $4.9B |
| 自由现金流率自由现金流/营收 | -31.4% | 55.5% |
| 资本支出强度资本支出/营收 | 0.0% | 1.3% |
| 现金转化率经营现金流/净利润 | — | 1.23× |
| 过去12个月自由现金流最近4个季度 | — | $17.2B |
8季度趋势，按日历期对齐
经营现金流AMWLMA
| Q4 25 | $-17.4M | $5.0B | ||
| Q3 25 | $-18.8M | $5.7B | ||
| Q2 25 | $-4.7M | $4.6B | ||
| Q1 25 | $-25.1M | $2.4B | ||
| Q4 24 | $-13.4M | $4.8B | ||
| Q3 24 | $-32.4M | $5.1B | ||
| Q2 24 | $-21.8M | $3.1B | ||
| Q1 24 | $-59.8M | $1.7B |
自由现金流AMWLMA
| Q4 25 | $-17.4M | $4.9B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $4.6B | ||
| Q1 25 | $-25.1M | $2.2B | ||
| Q4 24 | $-13.4M | $4.7B | ||
| Q3 24 | $-32.4M | $5.0B | ||
| Q2 24 | $-21.8M | $3.0B | ||
| Q1 24 | $-59.8M | $1.5B |
自由现金流率AMWLMA
| Q4 25 | -31.4% | 55.5% | ||
| Q3 25 | — | 63.8% | ||
| Q2 25 | — | 56.1% | ||
| Q1 25 | -37.6% | 30.6% | ||
| Q4 24 | -18.9% | 63.3% | ||
| Q3 24 | -53.0% | 68.2% | ||
| Q2 24 | -34.7% | 43.4% | ||
| Q1 24 | -100.5% | 23.9% |
资本支出强度AMWLMA
| Q4 25 | 0.0% | 1.3% | ||
| Q3 25 | 0.0% | 2.1% | ||
| Q2 25 | 0.0% | 0.5% | ||
| Q1 25 | 0.0% | 2.2% | ||
| Q4 24 | 0.0% | 1.3% | ||
| Q3 24 | 0.0% | 1.5% | ||
| Q2 24 | 0.0% | 1.7% | ||
| Q1 24 | 0.1% | 2.5% |
现金转化率AMWLMA
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | 1.44× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | — | 0.56× |
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
AMWL
| Platform Subscription | $28.8M | 52% |
| Visits | $23.7M | 43% |
| Others | $2.8M | 5% |
MA
| Payment Network | $4.9B | 56% |
| Value Added Services And Solutions | $3.9B | 44% |
