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Alphatec Holdings, Inc.（ATEC）与BALCHEM CORP（BCPC）财务数据对比。点击上方公司名可切换其他公司
BALCHEM CORP的季度营收约是Alphatec Holdings, Inc.的1.3倍（$270.7M vs $212.9M），BALCHEM CORP净利率更高（14.9% vs -10.2%，领先25.1%），Alphatec Holdings, Inc.同比增速更快（20.4% vs 8.1%），BALCHEM CORP自由现金流更多（$33.8M vs $7.7M），过去两年Alphatec Holdings, Inc.的营收复合增速更高（24.0% vs 7.5%）
Alphatec Holdings是一家全球医疗科技企业，专注于研发、生产及销售脊柱外科手术相关的植入物、手术器械与数字化手术平台，服务骨科及神经外科医疗从业者，核心市场覆盖北美、欧洲及亚太主要区域。
Balchem Corp是一家全球特种化学品与营养原料供应商，核心业务覆盖人类营养、动物保健、制药、工业应用四大领域，为北美、欧洲、亚太等地区的客户提供定制化专用原料产品。
ATEC vs BCPC — 直观对比
营收规模更大
BCPC
是对方的1.3倍
$212.9M
营收增速更快
ATEC
高出12.4%
8.1%
净利率更高
BCPC
高出25.1%
-10.2%
自由现金流更多
BCPC
多$26.1M
$7.7M
两年增速更快
ATEC
近两年复合增速
7.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $270.7M |
| 净利润 | $-21.7M | $40.3M |
| 毛利率 | 70.2% | — |
| 营业利润率 | -4.1% | 20.5% |
| 净利率 | -10.2% | 14.9% |
| 营收同比 | 20.4% | 8.1% |
| 净利润同比 | 34.8% | 8.7% |
| 每股收益（稀释后） | $-0.15 | $1.25 |
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ATECBCPC
| Q1 26 | — | $270.7M | ||
| Q4 25 | $212.9M | $263.6M | ||
| Q3 25 | $196.5M | $267.6M | ||
| Q2 25 | $185.5M | $255.5M | ||
| Q1 25 | $169.2M | $250.5M | ||
| Q4 24 | $176.8M | $240.0M | ||
| Q3 24 | $150.7M | $239.9M | ||
| Q2 24 | $145.6M | $234.1M |
净利润ATECBCPC
| Q1 26 | — | $40.3M | ||
| Q4 25 | $-21.7M | $39.2M | ||
| Q3 25 | $-28.6M | $40.3M | ||
| Q2 25 | $-41.1M | $38.3M | ||
| Q1 25 | $-51.9M | $37.1M | ||
| Q4 24 | $-33.3M | $33.6M | ||
| Q3 24 | $-39.6M | $33.8M | ||
| Q2 24 | $-40.7M | $32.1M |
毛利率ATECBCPC
| Q1 26 | — | — | ||
| Q4 25 | 70.2% | 35.6% | ||
| Q3 25 | 69.9% | 35.7% | ||
| Q2 25 | 69.6% | 36.4% | ||
| Q1 25 | 68.6% | 35.2% | ||
| Q4 24 | 68.8% | 36.0% | ||
| Q3 24 | 68.2% | 35.6% | ||
| Q2 24 | 70.5% | 35.5% |
营业利润率ATECBCPC
| Q1 26 | — | 20.5% | ||
| Q4 25 | -4.1% | 19.8% | ||
| Q3 25 | -8.1% | 20.4% | ||
| Q2 25 | -7.1% | 20.1% | ||
| Q1 25 | -26.2% | 20.4% | ||
| Q4 24 | -13.5% | 19.8% | ||
| Q3 24 | -22.4% | 20.0% | ||
| Q2 24 | -24.3% | 19.6% |
净利率ATECBCPC
| Q1 26 | — | 14.9% | ||
| Q4 25 | -10.2% | 14.9% | ||
| Q3 25 | -14.5% | 15.1% | ||
| Q2 25 | -22.2% | 15.0% | ||
| Q1 25 | -30.7% | 14.8% | ||
| Q4 24 | -18.9% | 14.0% | ||
| Q3 24 | -26.3% | 14.1% | ||
| Q2 24 | -27.9% | 13.7% |
每股收益（稀释后）ATECBCPC
| Q1 26 | — | $1.25 | ||
| Q4 25 | $-0.15 | $1.21 | ||
| Q3 25 | $-0.19 | $1.24 | ||
| Q2 25 | $-0.27 | $1.17 | ||
| Q1 25 | $-0.35 | $1.13 | ||
| Q4 24 | $-0.22 | $1.03 | ||
| Q3 24 | $-0.28 | $1.03 | ||
| Q2 24 | $-0.29 | $0.98 |
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 | $160.8M | $72.9M |
| 总债务越低越好 | $565.9M | — |
| 股东权益账面价值 | $12.4M | $1.3B |
| 总资产 | $791.2M | $1.7B |
| 负债/权益比越低杠杆越低 | 45.54× | — |
8季度趋势，按日历期对齐
现金及短期投资ATECBCPC
| Q1 26 | — | $72.9M | ||
| Q4 25 | $160.8M | $74.6M | ||
| Q3 25 | $155.7M | $65.1M | ||
| Q2 25 | $157.1M | $65.4M | ||
| Q1 25 | $153.2M | $49.9M | ||
| Q4 24 | $138.8M | $49.5M | ||
| Q3 24 | $81.0M | $73.7M | ||
| Q2 24 | $99.8M | $63.7M |
总债务ATECBCPC
| Q1 26 | — | — | ||
| Q4 25 | $565.9M | — | ||
| Q3 25 | $559.7M | — | ||
| Q2 25 | $553.9M | — | ||
| Q1 25 | $548.4M | — | ||
| Q4 24 | $576.2M | — | ||
| Q3 24 | $527.7M | — | ||
| Q2 24 | $519.2M | — |
股东权益ATECBCPC
| Q1 26 | — | $1.3B | ||
| Q4 25 | $12.4M | $1.3B | ||
| Q3 25 | $11.5M | $1.3B | ||
| Q2 25 | $23.8M | $1.3B | ||
| Q1 25 | $-85.9M | $1.2B | ||
| Q4 24 | $-14.2M | $1.1B | ||
| Q3 24 | $-1.4M | $1.2B | ||
| Q2 24 | $17.1M | $1.1B |
总资产ATECBCPC
| Q1 26 | — | $1.7B | ||
| Q4 25 | $791.2M | $1.7B | ||
| Q3 25 | $787.2M | $1.7B | ||
| Q2 25 | $790.3M | $1.7B | ||
| Q1 25 | $785.5M | $1.6B | ||
| Q4 24 | $775.7M | $1.6B | ||
| Q3 24 | $745.9M | $1.6B | ||
| Q2 24 | $768.6M | $1.6B |
负债/权益比ATECBCPC
| Q1 26 | — | — | ||
| Q4 25 | 45.54× | — | ||
| Q3 25 | 48.64× | — | ||
| Q2 25 | 23.30× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 30.34× | — |
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 | $20.7M | $40.1M |
| 自由现金流经营现金流 - 资本支出 | $7.7M | $33.8M |
| 自由现金流率自由现金流/营收 | 3.6% | 12.5% |
| 资本支出强度资本支出/营收 | 6.1% | 2.3% |
| 现金转化率经营现金流/净利润 | — | 0.99× |
| 过去12个月自由现金流最近4个季度 | $2.8M | — |
8季度趋势，按日历期对齐
经营现金流ATECBCPC
| Q1 26 | — | $40.1M | ||
| Q4 25 | $20.7M | $67.3M | ||
| Q3 25 | $14.0M | $65.6M | ||
| Q2 25 | $15.5M | $47.3M | ||
| Q1 25 | $-5.0M | $36.5M | ||
| Q4 24 | $10.5M | $52.3M | ||
| Q3 24 | $-5.3M | $51.3M | ||
| Q2 24 | $-11.4M | $45.0M |
自由现金流ATECBCPC
| Q1 26 | — | $33.8M | ||
| Q4 25 | $7.7M | — | ||
| Q3 25 | $4.8M | — | ||
| Q2 25 | $5.2M | — | ||
| Q1 25 | $-15.0M | — | ||
| Q4 24 | $8.5M | — | ||
| Q3 24 | $-21.2M | — | ||
| Q2 24 | $-45.5M | — |
自由现金流率ATECBCPC
| Q1 26 | — | 12.5% | ||
| Q4 25 | 3.6% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | -8.9% | — | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | -14.1% | — | ||
| Q2 24 | -31.3% | — |
资本支出强度ATECBCPC
| Q1 26 | — | 2.3% | ||
| Q4 25 | 6.1% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 5.6% | — | ||
| Q1 25 | 5.9% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 10.5% | — | ||
| Q2 24 | 23.4% | — |
现金转化率ATECBCPC
| Q1 26 | — | 0.99× | ||
| Q4 25 | — | 1.72× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | 1.23× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 1.52× | ||
| Q2 24 | — | 1.40× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
