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亚什兰（ASH）与GE医疗（DHC）财务数据对比。点击上方公司名可切换其他公司
亚什兰的季度营收约是GE医疗的1.0倍（$386.0M vs $379.6M），亚什兰净利率更高（-3.1% vs -5.6%，领先2.5%），GE医疗同比增速更快（-0.0% vs -4.7%），亚什兰自由现金流更多（$111.0M vs $-166.4M），过去两年GE医疗的营收复合增速更高（1.2% vs -18.1%）
亚什兰是一家总部位于美国特拉华州威尔明顿的化工企业，1924年始创于肯塔基州亚什兰市，最初以炼油业务起家，1994年迁至现总部。公司拥有多个业务板块，覆盖化工中间体与溶剂、复合材料、工业特种化学品、个人及家居护理、制药、食品饮料以及农业相关领域，2017年之前曾是胜牌润滑油的主要生产商。
GE医疗是一家总部位于美国伊利诺伊州芝加哥市的医疗科技企业，业务涵盖四大板块：医疗影像设备，包括分子成像、CT、核磁共振、妇科健康筛查及X光系统；超声设备；患者护理解决方案，聚焦远程患者监测、麻醉呼吸护理、心脏诊断及婴幼儿护理；此外还涉及医药相关领域，是全球医疗行业的知名企业。
ASH vs DHC — 直观对比
营收规模更大
ASH
是对方的1.0倍
$379.6M
营收增速更快
DHC
高出4.7%
-4.7%
净利率更高
ASH
高出2.5%
-5.6%
自由现金流更多
ASH
多$277.4M
$-166.4M
两年增速更快
DHC
近两年复合增速
-18.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $379.6M |
| 净利润 | $-12.0M | $-21.2M |
| 毛利率 | 27.2% | — |
| 营业利润率 | -1.6% | -12.6% |
| 净利率 | -3.1% | -5.6% |
| 营收同比 | -4.7% | -0.0% |
| 净利润同比 | 92.7% | 75.7% |
| 每股收益（稀释后） | $-0.26 | $-0.09 |
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ASHDHC
| Q4 25 | $386.0M | $379.6M | ||
| Q3 25 | $477.0M | $388.7M | ||
| Q2 25 | $463.0M | $382.7M | ||
| Q1 25 | $479.0M | $386.9M | ||
| Q4 24 | $405.0M | $379.6M | ||
| Q3 24 | $521.0M | $373.6M | ||
| Q2 24 | $544.0M | $371.4M | ||
| Q1 24 | $575.0M | $370.8M |
净利润ASHDHC
| Q4 25 | $-12.0M | $-21.2M | ||
| Q3 25 | $31.0M | $-164.0M | ||
| Q2 25 | $-742.0M | $-91.6M | ||
| Q1 25 | $31.0M | $-9.0M | ||
| Q4 24 | $-165.0M | $-87.4M | ||
| Q3 24 | $17.0M | $-98.7M | ||
| Q2 24 | $6.0M | $-97.9M | ||
| Q1 24 | $120.0M | $-86.3M |
毛利率ASHDHC
| Q4 25 | 27.2% | — | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 28.5% | — | ||
| Q1 25 | 30.7% | — | ||
| Q4 24 | 27.4% | — | ||
| Q3 24 | 33.2% | — | ||
| Q2 24 | 34.2% | — | ||
| Q1 24 | 28.0% | — |
营业利润率ASHDHC
| Q4 25 | -1.6% | -12.6% | ||
| Q3 25 | 12.8% | -43.4% | ||
| Q2 25 | -152.9% | -24.5% | ||
| Q1 25 | 10.6% | -2.7% | ||
| Q4 24 | -44.2% | -26.1% | ||
| Q3 24 | 6.1% | -26.5% | ||
| Q2 24 | -11.2% | -23.0% | ||
| Q1 24 | 3.7% | -23.7% |
净利率ASHDHC
| Q4 25 | -3.1% | -5.6% | ||
| Q3 25 | 6.5% | -42.2% | ||
| Q2 25 | -160.3% | -23.9% | ||
| Q1 25 | 6.5% | -2.3% | ||
| Q4 24 | -40.7% | -23.0% | ||
| Q3 24 | 3.3% | -26.4% | ||
| Q2 24 | 1.1% | -26.3% | ||
| Q1 24 | 20.9% | -23.3% |
每股收益（稀释后）ASHDHC
| Q4 25 | $-0.26 | $-0.09 | ||
| Q3 25 | $0.83 | $-0.68 | ||
| Q2 25 | $-16.21 | $-0.38 | ||
| Q1 25 | $0.65 | $-0.04 | ||
| Q4 24 | $-3.50 | $-0.37 | ||
| Q3 24 | $0.34 | $-0.41 | ||
| Q2 24 | $0.12 | $-0.41 | ||
| Q1 24 | $2.39 | $-0.36 |
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 | $304.0M | $105.4M |
| 总债务越低越好 | $1.4B | $2.4B |
| 股东权益账面价值 | $1.9B | $1.7B |
| 总资产 | $4.5B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.74× | 1.47× |
8季度趋势，按日历期对齐
现金及短期投资ASHDHC
| Q4 25 | $304.0M | $105.4M | ||
| Q3 25 | $215.0M | $201.4M | ||
| Q2 25 | $207.0M | $141.8M | ||
| Q1 25 | $168.0M | $302.6M | ||
| Q4 24 | $219.0M | $144.6M | ||
| Q3 24 | $300.0M | $256.5M | ||
| Q2 24 | $399.0M | $265.6M | ||
| Q1 24 | $439.0M | $207.1M |
总债务ASHDHC
| Q4 25 | $1.4B | $2.4B | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | $3.1B | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.3B | — |
股东权益ASHDHC
| Q4 25 | $1.9B | $1.7B | ||
| Q3 25 | $1.9B | $1.7B | ||
| Q2 25 | $1.9B | $1.9B | ||
| Q1 25 | $2.6B | $1.9B | ||
| Q4 24 | $2.6B | $2.0B | ||
| Q3 24 | $2.9B | $2.0B | ||
| Q2 24 | $3.0B | $2.1B | ||
| Q1 24 | $3.1B | $2.2B |
总资产ASHDHC
| Q4 25 | $4.5B | $4.4B | ||
| Q3 25 | $4.6B | $4.7B | ||
| Q2 25 | $4.6B | $4.8B | ||
| Q1 25 | $5.2B | $5.0B | ||
| Q4 24 | $5.2B | $5.1B | ||
| Q3 24 | $5.6B | $5.3B | ||
| Q2 24 | $5.7B | $5.3B | ||
| Q1 24 | $5.9B | $5.3B |
负债/权益比ASHDHC
| Q4 25 | 0.74× | 1.47× | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | 0.51× | 1.56× | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | 0.42× | — |
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 | $125.0M | $-19.6M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $-166.4M |
| 自由现金流率自由现金流/营收 | 28.8% | -43.8% |
| 资本支出强度资本支出/营收 | 3.6% | 38.7% |
| 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 | $200.0M | $-280.3M |
8季度趋势，按日历期对齐
经营现金流ASHDHC
| Q4 25 | $125.0M | $-19.6M | ||
| Q3 25 | $40.0M | $-49.3M | ||
| Q2 25 | $115.0M | $53.0M | ||
| Q1 25 | $9.0M | $-3.2M | ||
| Q4 24 | $-30.0M | $112.2M | ||
| Q3 24 | $80.0M | $21.1M | ||
| Q2 24 | $127.0M | $44.3M | ||
| Q1 24 | $54.0M | $28.6M |
自由现金流ASHDHC
| Q4 25 | $111.0M | $-166.4M | ||
| Q3 25 | $6.0M | $-89.8M | ||
| Q2 25 | $95.0M | $18.8M | ||
| Q1 25 | $-12.0M | $-42.9M | ||
| Q4 24 | $-53.0M | $-89.5M | ||
| Q3 24 | $42.0M | $-26.1M | ||
| Q2 24 | $98.0M | $3.3M | ||
| Q1 24 | $20.0M | $-18.1M |
自由现金流率ASHDHC
| Q4 25 | 28.8% | -43.8% | ||
| Q3 25 | 1.3% | -23.1% | ||
| Q2 25 | 20.5% | 4.9% | ||
| Q1 25 | -2.5% | -11.1% | ||
| Q4 24 | -13.1% | -23.6% | ||
| Q3 24 | 8.1% | -7.0% | ||
| Q2 24 | 18.0% | 0.9% | ||
| Q1 24 | 3.5% | -4.9% |
资本支出强度ASHDHC
| Q4 25 | 3.6% | 38.7% | ||
| Q3 25 | 7.1% | 10.4% | ||
| Q2 25 | 4.3% | 8.9% | ||
| Q1 25 | 4.4% | 10.2% | ||
| Q4 24 | 5.7% | 53.1% | ||
| Q3 24 | 7.3% | 12.6% | ||
| Q2 24 | 5.3% | 11.0% | ||
| Q1 24 | 5.9% | 12.6% |
现金转化率ASHDHC
| Q4 25 | — | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.71× | — | ||
| Q2 24 | 21.17× | — | ||
| Q1 24 | 0.45× | — |
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
ASH
| Personal Care And Household | $123.0M | 32% |
| Other | $120.0M | 31% |
| Specialty Additives | $36.0M | 9% |
| Intermediates And Solvents | $31.0M | 8% |
| Personal Care | $30.0M | 8% |
| Life Sciences | $27.0M | 7% |
| Intermediates | $19.0M | 5% |
DHC
| Senior Housing Operating Portfolio Segment | $323.4M | 85% |
| Rental Income | $56.2M | 15% |
