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ARTIVION, INC.（AORT）与MERIT MEDICAL SYSTEMS INC（MMSI）财务数据对比。点击上方公司名可切换其他公司
MERIT MEDICAL SYSTEMS INC的季度营收约是ARTIVION, INC.的3.4倍（$393.9M vs $116.0M）。MERIT MEDICAL SYSTEMS INC净利率更高（9.6% vs 2.1%，领先7.6%）。ARTIVION, INC.同比增速更快（19.2% vs 10.9%）。MERIT MEDICAL SYSTEMS INC自由现金流更多（$74.0M vs $-7.9M）。过去两年MERIT MEDICAL SYSTEMS INC的营收复合增速更高（10.3% vs 9.1%）
Artivion, Inc.是一家专注于心血管移植领域的医疗企业，主要供应经深低温冷冻保存的人体组织，同时研发各类医疗器械。旗下核心产品包括经过特殊处理、去除多余细胞物质与抗原的人体心脏瓣膜，以及BioGlue手术粘合剂，可为临床诊疗提供专业支持。
梅里特医疗系统公司是一家全球性医疗设备企业，设计、生产和销售适用于心脏病学、放射学、肿瘤学、内窥镜及重症监护领域的介入和诊断产品，为全球医院及医疗机构提供微创医疗解决方案，助力提升患者疗效和临床操作效率。
AORT vs MMSI — 直观对比
营收规模更大
MMSI
是对方的3.4倍
$116.0M
营收增速更快
AORT
高出8.3%
10.9%
净利率更高
MMSI
高出7.6%
2.1%
自由现金流更多
MMSI
多$82.0M
$-7.9M
两年增速更快
MMSI
近两年复合增速
9.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $116.0M | $393.9M |
| 净利润 | $2.4M | $38.0M |
| 毛利率 | 63.1% | 49.6% |
| 营业利润率 | 9.2% | 13.8% |
| 净利率 | 2.1% | 9.6% |
| 营收同比 | 19.2% | 10.9% |
| 净利润同比 | 114.7% | 36.0% |
| 每股收益（稀释后） | $0.06 | $0.64 |
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AORTMMSI
| Q4 25 | $116.0M | $393.9M | ||
| Q3 25 | $113.4M | $384.2M | ||
| Q2 25 | $113.0M | $382.5M | ||
| Q1 25 | $99.0M | $355.4M | ||
| Q4 24 | $97.3M | $355.2M | ||
| Q3 24 | $95.8M | $339.8M | ||
| Q2 24 | $98.0M | $338.0M | ||
| Q1 24 | $97.4M | $323.5M |
净利润AORTMMSI
| Q4 25 | $2.4M | $38.0M | ||
| Q3 25 | $6.5M | $27.8M | ||
| Q2 25 | $1.3M | $32.6M | ||
| Q1 25 | $-505.0K | $30.1M | ||
| Q4 24 | $-16.5M | $27.9M | ||
| Q3 24 | $-2.3M | $28.4M | ||
| Q2 24 | $-2.1M | $35.7M | ||
| Q1 24 | $7.5M | $28.2M |
毛利率AORTMMSI
| Q4 25 | 63.1% | 49.6% | ||
| Q3 25 | 65.6% | 48.5% | ||
| Q2 25 | 64.7% | 48.2% | ||
| Q1 25 | 64.2% | 48.4% | ||
| Q4 24 | 63.2% | 48.7% | ||
| Q3 24 | 63.7% | 46.4% | ||
| Q2 24 | 64.6% | 47.7% | ||
| Q1 24 | 64.6% | 46.9% |
营业利润率AORTMMSI
| Q4 25 | 9.2% | 13.8% | ||
| Q3 25 | 11.1% | 11.1% | ||
| Q2 25 | 7.4% | 12.3% | ||
| Q1 25 | 2.2% | 11.5% | ||
| Q4 24 | 2.7% | 10.3% | ||
| Q3 24 | 4.6% | 11.0% | ||
| Q2 24 | 6.6% | 13.6% | ||
| Q1 24 | 26.0% | 11.1% |
净利率AORTMMSI
| Q4 25 | 2.1% | 9.6% | ||
| Q3 25 | 5.7% | 7.2% | ||
| Q2 25 | 1.2% | 8.5% | ||
| Q1 25 | -0.5% | 8.5% | ||
| Q4 24 | -16.9% | 7.9% | ||
| Q3 24 | -2.4% | 8.4% | ||
| Q2 24 | -2.2% | 10.6% | ||
| Q1 24 | 7.7% | 8.7% |
每股收益（稀释后）AORTMMSI
| Q4 25 | $0.06 | $0.64 | ||
| Q3 25 | $0.13 | $0.46 | ||
| Q2 25 | $0.03 | $0.54 | ||
| Q1 25 | $-0.01 | $0.49 | ||
| Q4 24 | $-0.40 | $0.46 | ||
| Q3 24 | $-0.05 | $0.48 | ||
| Q2 24 | $-0.05 | $0.61 | ||
| Q1 24 | $0.18 | $0.48 |
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 | $64.9M | $446.4M |
| 总债务越低越好 | $215.1M | $734.0M |
| 股东权益账面价值 | $448.2M | $1.6B |
| 总资产 | $884.8M | $2.7B |
| 负债/权益比越低杠杆越低 | 0.48× | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资AORTMMSI
| Q4 25 | $64.9M | $446.4M | ||
| Q3 25 | $73.4M | $392.5M | ||
| Q2 25 | $53.5M | $341.8M | ||
| Q1 25 | $37.7M | $395.5M | ||
| Q4 24 | $53.5M | $376.7M | ||
| Q3 24 | $56.2M | $523.1M | ||
| Q2 24 | $55.0M | $636.7M | ||
| Q1 24 | $51.1M | $581.9M |
总债务AORTMMSI
| Q4 25 | $215.1M | $734.0M | ||
| Q3 25 | $214.9M | $732.9M | ||
| Q2 25 | $215.6M | $731.8M | ||
| Q1 25 | $314.7M | $730.7M | ||
| Q4 24 | $314.3M | $729.6M | ||
| Q3 24 | $314.0M | $750.5M | ||
| Q2 24 | $313.6M | $801.3M | ||
| Q1 24 | $313.3M | $800.1M |
股东权益AORTMMSI
| Q4 25 | $448.2M | $1.6B | ||
| Q3 25 | $438.7M | $1.5B | ||
| Q2 25 | $419.9M | $1.5B | ||
| Q1 25 | $294.3M | $1.4B | ||
| Q4 24 | $276.2M | $1.4B | ||
| Q3 24 | $304.7M | $1.3B | ||
| Q2 24 | $295.1M | $1.3B | ||
| Q1 24 | $295.0M | $1.2B |
总资产AORTMMSI
| Q4 25 | $884.8M | $2.7B | ||
| Q3 25 | $857.7M | $2.6B | ||
| Q2 25 | $838.4M | $2.6B | ||
| Q1 25 | $791.2M | $2.5B | ||
| Q4 24 | $789.1M | $2.4B | ||
| Q3 24 | $803.1M | $2.4B | ||
| Q2 24 | $789.5M | $2.4B | ||
| Q1 24 | $784.0M | $2.3B |
负债/权益比AORTMMSI
| Q4 25 | 0.48× | 0.46× | ||
| Q3 25 | 0.49× | 0.48× | ||
| Q2 25 | 0.51× | 0.49× | ||
| Q1 25 | 1.07× | 0.51× | ||
| Q4 24 | 1.14× | 0.53× | ||
| Q3 24 | 1.03× | 0.57× | ||
| Q2 24 | 1.06× | 0.62× | ||
| Q1 24 | 1.06× | 0.65× |
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 | $19.6M | $98.5M |
| 自由现金流经营现金流 - 资本支出 | $-7.9M | $74.0M |
| 自由现金流率自由现金流/营收 | -6.9% | 18.8% |
| 资本支出强度资本支出/营收 | 23.7% | 6.2% |
| 现金转化率经营现金流/净利润 | 8.06× | 2.59× |
| 过去12个月自由现金流最近4个季度 | $839.0K | $215.7M |
8季度趋势，按日历期对齐
经营现金流AORTMMSI
| Q4 25 | $19.6M | $98.5M | ||
| Q3 25 | $22.3M | $75.0M | ||
| Q2 25 | $15.0M | $83.3M | ||
| Q1 25 | $-17.0M | $40.6M | ||
| Q4 24 | $10.1M | $68.7M | ||
| Q3 24 | $11.5M | $47.3M | ||
| Q2 24 | $6.1M | $68.5M | ||
| Q1 24 | $-5.5M | $36.2M |
自由现金流AORTMMSI
| Q4 25 | $-7.9M | $74.0M | ||
| Q3 25 | $17.7M | $52.5M | ||
| Q2 25 | $11.7M | $69.6M | ||
| Q1 25 | $-20.6M | $19.5M | ||
| Q4 24 | $8.7M | $65.3M | ||
| Q3 24 | $7.8M | $38.0M | ||
| Q2 24 | $3.6M | $57.9M | ||
| Q1 24 | $-9.1M | $24.5M |
自由现金流率AORTMMSI
| Q4 25 | -6.9% | 18.8% | ||
| Q3 25 | 15.6% | 13.7% | ||
| Q2 25 | 10.4% | 18.2% | ||
| Q1 25 | -20.8% | 5.5% | ||
| Q4 24 | 9.0% | 18.4% | ||
| Q3 24 | 8.2% | 11.2% | ||
| Q2 24 | 3.7% | 17.1% | ||
| Q1 24 | -9.3% | 7.6% |
资本支出强度AORTMMSI
| Q4 25 | 23.7% | 6.2% | ||
| Q3 25 | 4.1% | 5.8% | ||
| Q2 25 | 2.9% | 3.6% | ||
| Q1 25 | 3.7% | 5.9% | ||
| Q4 24 | 1.5% | 1.0% | ||
| Q3 24 | 3.8% | 2.8% | ||
| Q2 24 | 2.6% | 3.1% | ||
| Q1 24 | 3.7% | 3.6% |
现金转化率AORTMMSI
| Q4 25 | 8.06× | 2.59× | ||
| Q3 25 | 3.42× | 2.70× | ||
| Q2 25 | 11.16× | 2.56× | ||
| Q1 25 | — | 1.35× | ||
| Q4 24 | — | 2.46× | ||
| Q3 24 | — | 1.66× | ||
| Q2 24 | — | 1.92× | ||
| Q1 24 | -0.73× | 1.28× |
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
AORT
| Aortic Stent Grafts | $43.3M | 37% |
| On X | $27.8M | 24% |
| Preservation Services | $24.1M | 21% |
| Surgical Sealants | $20.3M | 18% |
| Other Products | $463.0K | 0% |
MMSI
| Other | $154.6M | 39% |
| Peripheral Intervention | $93.2M | 24% |
| Cardiac Intervention | $50.2M | 13% |
| OEM | $42.6M | 11% |
| Custom Procedural Solutions | $33.1M | 8% |
| Endoscopy Segment | $20.1M | 5% |
