vs
安费诺（APH）与美敦力（MDT）财务数据对比。点击上方公司名可切换其他公司
美敦力的季度营收约是安费诺的1.4倍（$9.0B vs $6.4B），安费诺净利率更高（18.6% vs 15.3%，领先3.2%），安费诺同比增速更快（49.1% vs 6.6%），安费诺自由现金流更多（$1.5B vs $457.0M），过去两年安费诺的营收复合增速更高（40.6% vs 5.3%）
安费诺是一家总部位于美国的电子零部件制造企业，核心产品涵盖电子连接器、光纤连接器、同轴电缆等各类线缆及互连系统，是全球互连解决方案领域的主流供应商，品牌名称源自其前身American Phenolic Corp的名称缩写组合。
美敦力是全球知名的医疗设备企业，法定及行政总部位于爱尔兰，运营总部设在美国明尼苏达州明尼阿波利斯。2015年集团收购爱尔兰企业柯惠后将注册地迁至爱尔兰，目前业务覆盖超150个国家，员工逾9万名，专注于研发生产各类医疗技术产品及治疗解决方案。
APH vs MDT — 直观对比
营收规模更大
MDT
是对方的1.4倍
$6.4B
营收增速更快
APH
高出42.5%
6.6%
净利率更高
APH
高出3.2%
15.3%
自由现金流更多
APH
多$1.0B
$457.0M
两年增速更快
APH
近两年复合增速
5.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $9.0B |
| 净利润 | $1.2B | $1.4B |
| 毛利率 | 38.2% | 65.8% |
| 营业利润率 | 26.8% | 18.8% |
| 净利率 | 18.6% | 15.3% |
| 营收同比 | 49.1% | 6.6% |
| 净利润同比 | 60.2% | 8.2% |
| 每股收益（稀释后） | $0.93 | $1.07 |
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APHMDT
| Q4 25 | $6.4B | $9.0B | ||
| Q3 25 | $6.2B | $8.6B | ||
| Q2 25 | $5.7B | $8.9B | ||
| Q1 25 | $4.8B | $8.3B | ||
| Q4 24 | $4.3B | $8.4B | ||
| Q3 24 | $4.0B | $7.9B | ||
| Q2 24 | $3.6B | $8.6B | ||
| Q1 24 | $3.3B | $8.1B |
净利润APHMDT
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.2B | $1.0B | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $737.8M | $1.3B | ||
| Q4 24 | $746.1M | $1.3B | ||
| Q3 24 | $604.4M | $1.0B | ||
| Q2 24 | $524.8M | $654.0M | ||
| Q1 24 | $548.7M | $1.3B |
毛利率APHMDT
| Q4 25 | 38.2% | 65.8% | ||
| Q3 25 | 38.1% | 65.0% | ||
| Q2 25 | 36.3% | 64.8% | ||
| Q1 25 | 34.2% | 66.5% | ||
| Q4 24 | 34.3% | 64.9% | ||
| Q3 24 | 33.6% | 65.1% | ||
| Q2 24 | 33.6% | 64.5% | ||
| Q1 24 | 33.4% | 65.6% |
营业利润率APHMDT
| Q4 25 | 26.8% | 18.8% | ||
| Q3 25 | 27.5% | 16.8% | ||
| Q2 25 | 25.1% | 16.1% | ||
| Q1 25 | 21.3% | 19.9% | ||
| Q4 24 | 22.1% | 19.0% | ||
| Q3 24 | 20.3% | 16.1% | ||
| Q2 24 | 19.4% | 12.3% | ||
| Q1 24 | 21.0% | 18.3% |
净利率APHMDT
| Q4 25 | 18.6% | 15.3% | ||
| Q3 25 | 20.1% | 12.1% | ||
| Q2 25 | 19.3% | 11.8% | ||
| Q1 25 | 15.3% | 15.6% | ||
| Q4 24 | 17.3% | 15.1% | ||
| Q3 24 | 15.0% | 13.2% | ||
| Q2 24 | 14.5% | 7.6% | ||
| Q1 24 | 16.9% | 16.3% |
每股收益（稀释后）APHMDT
| Q4 25 | $0.93 | $1.07 | ||
| Q3 25 | $0.97 | $0.81 | ||
| Q2 25 | $0.86 | $0.81 | ||
| Q1 25 | $0.58 | $1.01 | ||
| Q4 24 | $0.16 | $0.99 | ||
| Q3 24 | $0.48 | $0.80 | ||
| Q2 24 | $0.41 | $0.50 | ||
| Q1 24 | $0.87 | $0.99 |
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 | $11.4B | $8.3B |
| 总债务越低越好 | $14.6B | $27.7B |
| 股东权益账面价值 | $13.4B | $48.7B |
| 总资产 | $36.2B | $91.3B |
| 负债/权益比越低杠杆越低 | 1.09× | 0.57× |
8季度趋势，按日历期对齐
现金及短期投资APHMDT
| Q4 25 | $11.4B | $8.3B | ||
| Q3 25 | $3.9B | $8.1B | ||
| Q2 25 | $3.2B | $9.0B | ||
| Q1 25 | $1.7B | $7.9B | ||
| Q4 24 | $3.3B | $8.0B | ||
| Q3 24 | $1.6B | $7.8B | ||
| Q2 24 | $1.3B | $8.0B | ||
| Q1 24 | $2.0B | $8.3B |
总债务APHMDT
| Q4 25 | $14.6B | $27.7B | ||
| Q3 25 | $7.1B | $26.2B | ||
| Q2 25 | $7.1B | $25.6B | ||
| Q1 25 | $6.8B | $24.0B | ||
| Q4 24 | $6.5B | $24.6B | ||
| Q3 24 | $5.1B | $26.3B | ||
| Q2 24 | $5.0B | $23.9B | ||
| Q1 24 | $3.6B | $24.2B |
股东权益APHMDT
| Q4 25 | $13.4B | $48.7B | ||
| Q3 25 | $12.5B | $47.9B | ||
| Q2 25 | $11.5B | $48.0B | ||
| Q1 25 | $10.3B | $49.4B | ||
| Q4 24 | $9.8B | $48.5B | ||
| Q3 24 | $9.5B | $47.9B | ||
| Q2 24 | $9.0B | $50.2B | ||
| Q1 24 | $8.7B | $51.8B |
总资产APHMDT
| Q4 25 | $36.2B | $91.3B | ||
| Q3 25 | $27.1B | $91.0B | ||
| Q2 25 | $25.7B | $91.7B | ||
| Q1 25 | $22.9B | $90.0B | ||
| Q4 24 | $21.4B | $90.0B | ||
| Q3 24 | $19.6B | $89.7B | ||
| Q2 24 | $18.6B | $90.0B | ||
| Q1 24 | $16.7B | $90.8B |
负债/权益比APHMDT
| Q4 25 | 1.09× | 0.57× | ||
| Q3 25 | 0.57× | 0.55× | ||
| Q2 25 | 0.62× | 0.53× | ||
| Q1 25 | 0.66× | 0.49× | ||
| Q4 24 | 0.66× | 0.51× | ||
| Q3 24 | 0.54× | 0.55× | ||
| Q2 24 | 0.56× | 0.48× | ||
| Q1 24 | 0.41× | 0.47× |
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 | $1.7B | $925.0M |
| 自由现金流经营现金流 - 资本支出 | $1.5B | $457.0M |
| 自由现金流率自由现金流/营收 | 22.8% | 5.1% |
| 资本支出强度资本支出/营收 | 3.9% | 5.2% |
| 现金转化率经营现金流/净利润 | 1.44× | 0.67× |
| 过去12个月自由现金流最近4个季度 | $4.4B | $5.2B |
8季度趋势，按日历期对齐
经营现金流APHMDT
| Q4 25 | $1.7B | $925.0M | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.4B | $2.5B | ||
| Q1 25 | $764.9M | $2.6B | ||
| Q4 24 | $847.1M | $958.0M | ||
| Q3 24 | $704.0M | $986.0M | ||
| Q2 24 | $664.1M | $2.8B | ||
| Q1 24 | $599.5M | $2.5B |
自由现金流APHMDT
| Q4 25 | $1.5B | $457.0M | ||
| Q3 25 | $1.2B | $584.0M | ||
| Q2 25 | $1.1B | $2.1B | ||
| Q1 25 | $576.3M | $2.1B | ||
| Q4 24 | $647.3M | $554.0M | ||
| Q3 24 | $474.0M | $466.0M | ||
| Q2 24 | $522.8M | $2.4B | ||
| Q1 24 | $505.2M | $2.1B |
自由现金流率APHMDT
| Q4 25 | 22.8% | 5.1% | ||
| Q3 25 | 19.6% | 6.8% | ||
| Q2 25 | 19.8% | 23.2% | ||
| Q1 25 | 12.0% | 25.3% | ||
| Q4 24 | 15.0% | 6.6% | ||
| Q3 24 | 11.7% | 5.9% | ||
| Q2 24 | 14.5% | 27.4% | ||
| Q1 24 | 15.5% | 26.3% |
资本支出强度APHMDT
| Q4 25 | 3.9% | 5.2% | ||
| Q3 25 | 4.2% | 5.9% | ||
| Q2 25 | 5.3% | 5.1% | ||
| Q1 25 | 3.9% | 5.7% | ||
| Q4 24 | 4.6% | 4.8% | ||
| Q3 24 | 5.7% | 6.6% | ||
| Q2 24 | 3.9% | 5.0% | ||
| Q1 24 | 2.9% | 4.3% |
现金转化率APHMDT
| Q4 25 | 1.44× | 0.67× | ||
| Q3 25 | 1.18× | 1.05× | ||
| Q2 25 | 1.30× | 2.39× | ||
| Q1 25 | 1.04× | 1.99× | ||
| Q4 24 | 1.14× | 0.75× | ||
| Q3 24 | 1.16× | 0.95× | ||
| Q2 24 | 1.27× | 4.25× | ||
| Q1 24 | 1.09× | 1.87× |
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
APH
| Communications Solutions Segment | $3.5B | 54% |
| Harsh Environment Solutions Segment | $1.7B | 26% |
| Sales Channel Through Intermediary | $1.4B | 21% |
MDT
| Cardiac Rhythm And Heart Failure Division | $1.8B | 20% |
| Surgical Endoscopy | $1.7B | 19% |
| Other | $1.3B | 14% |
| Structural Heart And Aortic Division | $956.0M | 11% |
| Diabetes Group | $757.0M | 8% |
| Specialty Therapies Division | $744.0M | 8% |
| Coronary And Peripheral Vascular Division | $655.0M | 7% |
| Neuromodulation Division | $520.0M | 6% |
| Acute Care Monitoring | $493.0M | 6% |
| IE | $35.0M | 0% |
