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American Well Corp（AMWL）与TELOS CORP（TLS）财务数据对比。点击上方公司名可切换其他公司
American Well Corp的季度营收约是TELOS CORP的1.2倍（$55.3M vs $46.8M），TELOS CORP净利率更高（-34.9% vs -45.1%，领先10.2%），TELOS CORP同比增速更快（77.4% vs -22.1%），TELOS CORP自由现金流更多（$8.0M vs $-17.4M），过去两年TELOS CORP的营收复合增速更高（25.7% 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。
泰洛斯公司（Telos Corporation）是一家信息技术与网络安全企业，总部位于美国弗吉尼亚州阿什本。公司主要服务对象为政府与企业客户，业务合同大部分来自美国国防部，核心客户涵盖美国军方、情报机构、民政部门以及北约盟友机构。
AMWL vs TLS — 直观对比
营收规模更大
AMWL
是对方的1.2倍
$46.8M
营收增速更快
TLS
高出99.5%
-22.1%
净利率更高
TLS
高出10.2%
-45.1%
自由现金流更多
TLS
多$25.3M
$-17.4M
两年增速更快
TLS
近两年复合增速
-3.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $55.3M | $46.8M |
| 净利润 | $-24.9M | $-16.3M |
| 毛利率 | — | 35.0% |
| 营业利润率 | -45.5% | -39.6% |
| 净利率 | -45.1% | -34.9% |
| 营收同比 | -22.1% | 77.4% |
| 净利润同比 | 41.6% | -74.8% |
| 每股收益（稀释后） | $-1.53 | $-0.22 |
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AMWLTLS
| Q4 25 | $55.3M | $46.8M | ||
| Q3 25 | $56.3M | $51.4M | ||
| Q2 25 | $70.9M | $36.0M | ||
| Q1 25 | $66.8M | $30.6M | ||
| Q4 24 | $71.0M | $26.4M | ||
| Q3 24 | $61.0M | $23.8M | ||
| Q2 24 | $62.8M | $28.5M | ||
| Q1 24 | $59.5M | $29.6M |
净利润AMWLTLS
| Q4 25 | $-24.9M | $-16.3M | ||
| Q3 25 | $-32.4M | $-2.1M | ||
| Q2 25 | $-19.7M | $-9.5M | ||
| Q1 25 | $-18.7M | $-8.6M | ||
| Q4 24 | $-42.7M | $-9.3M | ||
| Q3 24 | $-43.5M | $-28.1M | ||
| Q2 24 | $-49.9M | $-7.8M | ||
| Q1 24 | $-72.1M | $-7.4M |
毛利率AMWLTLS
| Q4 25 | — | 35.0% | ||
| Q3 25 | — | 39.9% | ||
| Q2 25 | — | 33.2% | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 40.3% | ||
| Q3 24 | — | 13.2% | ||
| Q2 24 | — | 34.1% | ||
| Q1 24 | — | 37.0% |
营业利润率AMWLTLS
| Q4 25 | -45.5% | -39.6% | ||
| Q3 25 | -52.1% | -4.8% | ||
| Q2 25 | -28.7% | -27.5% | ||
| Q1 25 | -45.5% | -29.5% | ||
| Q4 24 | -60.2% | -37.6% | ||
| Q3 24 | -77.6% | -121.4% | ||
| Q2 24 | -83.4% | -30.3% | ||
| Q1 24 | -126.1% | -28.5% |
净利率AMWLTLS
| Q4 25 | -45.1% | -34.9% | ||
| Q3 25 | -57.5% | -4.1% | ||
| Q2 25 | -27.8% | -26.5% | ||
| Q1 25 | -28.0% | -28.1% | ||
| Q4 24 | -60.1% | -35.4% | ||
| Q3 24 | -71.2% | -118.0% | ||
| Q2 24 | -79.5% | -27.2% | ||
| Q1 24 | -121.1% | -24.9% |
每股收益（稀释后）AMWLTLS
| Q4 25 | $-1.53 | $-0.22 | ||
| Q3 25 | $-2.00 | $-0.03 | ||
| Q2 25 | $-1.24 | $-0.13 | ||
| Q1 25 | $-1.19 | $-0.12 | ||
| Q4 24 | $-2.71 | $-0.13 | ||
| Q3 24 | $-2.87 | $-0.39 | ||
| Q2 24 | $-3.36 | $-0.11 | ||
| Q1 24 | $-4.94 | $-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 | $182.3M | $53.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $235.6M | $96.0M |
| 总资产 | $323.8M | $139.9M |
| 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AMWLTLS
| Q4 25 | $182.3M | $53.2M | ||
| Q3 25 | $200.9M | $59.0M | ||
| Q2 25 | $219.1M | $57.0M | ||
| Q1 25 | $222.4M | $57.8M | ||
| Q4 24 | $228.3M | $54.6M | ||
| Q3 24 | $244.6M | $69.8M | ||
| Q2 24 | $276.9M | $80.1M | ||
| Q1 24 | $308.6M | $93.9M |
股东权益AMWLTLS
| Q4 25 | $235.6M | $96.0M | ||
| Q3 25 | $254.9M | $119.7M | ||
| Q2 25 | $282.6M | $118.4M | ||
| Q1 25 | $294.0M | $126.1M | ||
| Q4 24 | $304.8M | $127.1M | ||
| Q3 24 | $336.7M | $129.5M | ||
| Q2 24 | $363.9M | $149.1M | ||
| Q1 24 | $408.7M | $154.4M |
总资产AMWLTLS
| Q4 25 | $323.8M | $139.9M | ||
| Q3 25 | $359.4M | $164.3M | ||
| Q2 25 | $388.7M | $165.0M | ||
| Q1 25 | $419.5M | $158.1M | ||
| Q4 24 | $436.0M | $158.2M | ||
| Q3 24 | $483.0M | $166.3M | ||
| Q2 24 | $507.8M | $182.4M | ||
| Q1 24 | $548.4M | $195.4M |
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 | $8.0M |
| 自由现金流经营现金流 - 资本支出 | $-17.4M | $8.0M |
| 自由现金流率自由现金流/营收 | -31.4% | 17.0% |
| 资本支出强度资本支出/营收 | 0.0% | 0.1% |
| 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 | — | $29.4M |
8季度趋势，按日历期对齐
经营现金流AMWLTLS
| Q4 25 | $-17.4M | $8.0M | ||
| Q3 25 | $-18.8M | $9.1M | ||
| Q2 25 | $-4.7M | $7.0M | ||
| Q1 25 | $-25.1M | $6.1M | ||
| Q4 24 | $-13.4M | $-10.5M | ||
| Q3 24 | $-32.4M | $-7.1M | ||
| Q2 24 | $-21.8M | $-8.0M | ||
| Q1 24 | $-59.8M | $-350.0K |
自由现金流AMWLTLS
| Q4 25 | $-17.4M | $8.0M | ||
| Q3 25 | — | $8.7M | ||
| Q2 25 | — | $6.8M | ||
| Q1 25 | $-25.1M | $6.0M | ||
| Q4 24 | $-13.4M | $-12.4M | ||
| Q3 24 | $-32.4M | $-7.1M | ||
| Q2 24 | $-21.8M | $-8.2M | ||
| Q1 24 | $-59.8M | $-447.0K |
自由现金流率AMWLTLS
| Q4 25 | -31.4% | 17.0% | ||
| Q3 25 | — | 16.9% | ||
| Q2 25 | — | 19.0% | ||
| Q1 25 | -37.6% | 19.5% | ||
| Q4 24 | -18.9% | -47.0% | ||
| Q3 24 | -53.0% | -30.0% | ||
| Q2 24 | -34.7% | -28.9% | ||
| Q1 24 | -100.5% | -1.5% |
资本支出强度AMWLTLS
| Q4 25 | 0.0% | 0.1% | ||
| Q3 25 | 0.0% | 0.9% | ||
| Q2 25 | 0.0% | 0.4% | ||
| Q1 25 | 0.0% | 0.4% | ||
| Q4 24 | 0.0% | 7.1% | ||
| Q3 24 | 0.0% | 0.2% | ||
| Q2 24 | 0.0% | 0.8% | ||
| Q1 24 | 0.1% | 0.3% |
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% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
