vs
Alphatec Holdings, Inc.（ATEC）与GLAUKOS Corp（GKOS）财务数据对比。点击上方公司名可切换其他公司
Alphatec Holdings, Inc.的季度营收约是GLAUKOS Corp的1.5倍（$212.9M vs $143.1M），Alphatec Holdings, Inc.净利率更高（-10.2% vs -93.4%，领先83.2%），GLAUKOS Corp同比增速更快（35.7% vs 20.4%），Alphatec Holdings, Inc.自由现金流更多（$7.7M vs $3.9M），过去两年GLAUKOS Corp的营收复合增速更高（29.3% vs 24.0%）
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。
Glaukos Corp是一家专注于眼科领域的医疗科技企业，开发并商业化用于治疗青光眼、角膜疾病等眼部病症的微创手术器械、处方药物及消费级产品，主要市场覆盖北美、欧洲及亚太地区，为全球医院、眼科诊所及患者提供服务。
ATEC vs GKOS — 直观对比
营收规模更大
ATEC
是对方的1.5倍
$143.1M
营收增速更快
GKOS
高出15.2%
20.4%
净利率更高
ATEC
高出83.2%
-93.4%
自由现金流更多
ATEC
多$3.8M
$3.9M
两年增速更快
GKOS
近两年复合增速
24.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $143.1M |
| 净利润 | $-21.7M | $-133.7M |
| 毛利率 | 70.2% | -1.1% |
| 营业利润率 | -4.1% | -97.7% |
| 净利率 | -10.2% | -93.4% |
| 营收同比 | 20.4% | 35.7% |
| 净利润同比 | 34.8% | -298.0% |
| 每股收益（稀释后） | $-0.15 | $-2.34 |
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ATECGKOS
| Q4 25 | $212.9M | $143.1M | ||
| Q3 25 | $196.5M | $133.5M | ||
| Q2 25 | $185.5M | $124.1M | ||
| Q1 25 | $169.2M | $106.7M | ||
| Q4 24 | $176.8M | $105.5M | ||
| Q3 24 | $150.7M | $96.7M | ||
| Q2 24 | $145.6M | $95.7M | ||
| Q1 24 | $138.5M | $85.6M |
净利润ATECGKOS
| Q4 25 | $-21.7M | $-133.7M | ||
| Q3 25 | $-28.6M | $-16.2M | ||
| Q2 25 | $-41.1M | $-19.7M | ||
| Q1 25 | $-51.9M | $-18.1M | ||
| Q4 24 | $-33.3M | $-33.6M | ||
| Q3 24 | $-39.6M | $-21.4M | ||
| Q2 24 | $-40.7M | $-50.5M | ||
| Q1 24 | $-48.5M | $-40.8M |
毛利率ATECGKOS
| Q4 25 | 70.2% | -1.1% | ||
| Q3 25 | 69.9% | 78.4% | ||
| Q2 25 | 69.6% | 78.3% | ||
| Q1 25 | 68.6% | 77.2% | ||
| Q4 24 | 68.8% | 72.9% | ||
| Q3 24 | 68.2% | 76.6% | ||
| Q2 24 | 70.5% | 76.4% | ||
| Q1 24 | 70.3% | 76.3% |
营业利润率ATECGKOS
| Q4 25 | -4.1% | -97.7% | ||
| Q3 25 | -8.1% | -12.3% | ||
| Q2 25 | -7.1% | -18.3% | ||
| Q1 25 | -26.2% | -19.4% | ||
| Q4 24 | -13.5% | -27.2% | ||
| Q3 24 | -22.4% | -25.5% | ||
| Q2 24 | -24.3% | -31.3% | ||
| Q1 24 | -31.3% | -45.6% |
净利率ATECGKOS
| Q4 25 | -10.2% | -93.4% | ||
| Q3 25 | -14.5% | -12.2% | ||
| Q2 25 | -22.2% | -15.8% | ||
| Q1 25 | -30.7% | -17.0% | ||
| Q4 24 | -18.9% | -31.8% | ||
| Q3 24 | -26.3% | -22.1% | ||
| Q2 24 | -27.9% | -52.8% | ||
| Q1 24 | -35.0% | -47.7% |
每股收益（稀释后）ATECGKOS
| Q4 25 | $-0.15 | $-2.34 | ||
| Q3 25 | $-0.19 | $-0.28 | ||
| Q2 25 | $-0.27 | $-0.34 | ||
| Q1 25 | $-0.35 | $-0.32 | ||
| Q4 24 | $-0.22 | $-0.56 | ||
| Q3 24 | $-0.28 | $-0.39 | ||
| Q2 24 | $-0.29 | $-1.00 | ||
| Q1 24 | $-0.34 | $-0.82 |
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 | $90.8M |
| 总债务越低越好 | $565.9M | — |
| 股东权益账面价值 | $12.4M | $656.2M |
| 总资产 | $791.2M | $893.5M |
| 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ATECGKOS
| Q4 25 | $160.8M | $90.8M | ||
| Q3 25 | $155.7M | $98.2M | ||
| Q2 25 | $157.1M | $100.8M | ||
| Q1 25 | $153.2M | $114.3M | ||
| Q4 24 | $138.8M | $169.6M | ||
| Q3 24 | $81.0M | $100.1M | ||
| Q2 24 | $99.8M | $68.1M | ||
| Q1 24 | $144.1M | $42.5M |
总债务ATECGKOS
| 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 | — | ||
| Q1 24 | $514.4M | — |
股东权益ATECGKOS
| Q4 25 | $12.4M | $656.2M | ||
| Q3 25 | $11.5M | $769.5M | ||
| Q2 25 | $23.8M | $765.1M | ||
| Q1 25 | $-85.9M | $764.0M | ||
| Q4 24 | $-14.2M | $766.9M | ||
| Q3 24 | $-1.4M | $668.5M | ||
| Q2 24 | $17.1M | $665.2M | ||
| Q1 24 | $37.6M | $450.7M |
总资产ATECGKOS
| Q4 25 | $791.2M | $893.5M | ||
| Q3 25 | $787.2M | $999.4M | ||
| Q2 25 | $790.3M | $987.0M | ||
| Q1 25 | $785.5M | $966.2M | ||
| Q4 24 | $775.7M | $974.8M | ||
| Q3 24 | $745.9M | $926.5M | ||
| Q2 24 | $768.6M | $919.7M | ||
| Q1 24 | $774.6M | $933.3M |
负债/权益比ATECGKOS
| Q4 25 | 45.54× | — | ||
| Q3 25 | 48.64× | — | ||
| Q2 25 | 23.30× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 30.34× | — | ||
| Q1 24 | 13.70× | — |
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 | $6.8M |
| 自由现金流经营现金流 - 资本支出 | $7.7M | $3.9M |
| 自由现金流率自由现金流/营收 | 3.6% | 2.7% |
| 资本支出强度资本支出/营收 | 6.1% | 2.0% |
| 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 | $2.8M | $-22.5M |
8季度趋势，按日历期对齐
经营现金流ATECGKOS
| Q4 25 | $20.7M | $6.8M | ||
| Q3 25 | $14.0M | $-10.1M | ||
| Q2 25 | $15.5M | $7.0M | ||
| Q1 25 | $-5.0M | $-18.5M | ||
| Q4 24 | $10.5M | $507.0K | ||
| Q3 24 | $-5.3M | $-9.6M | ||
| Q2 24 | $-11.4M | $-18.4M | ||
| Q1 24 | $-38.4M | $-33.9M |
自由现金流ATECGKOS
| Q4 25 | $7.7M | $3.9M | ||
| Q3 25 | $4.8M | $-11.7M | ||
| Q2 25 | $5.2M | $5.8M | ||
| Q1 25 | $-15.0M | $-20.5M | ||
| Q4 24 | $8.5M | $-1.2M | ||
| Q3 24 | $-21.2M | $-11.0M | ||
| Q2 24 | $-45.5M | $-20.5M | ||
| Q1 24 | $-69.8M | $-34.8M |
自由现金流率ATECGKOS
| Q4 25 | 3.6% | 2.7% | ||
| Q3 25 | 2.4% | -8.8% | ||
| Q2 25 | 2.8% | 4.7% | ||
| Q1 25 | -8.9% | -19.2% | ||
| Q4 24 | 4.8% | -1.2% | ||
| Q3 24 | -14.1% | -11.4% | ||
| Q2 24 | -31.3% | -21.4% | ||
| Q1 24 | -50.4% | -40.7% |
资本支出强度ATECGKOS
| Q4 25 | 6.1% | 2.0% | ||
| Q3 25 | 4.7% | 1.2% | ||
| Q2 25 | 5.6% | 0.9% | ||
| Q1 25 | 5.9% | 1.8% | ||
| Q4 24 | 1.1% | 1.6% | ||
| Q3 24 | 10.5% | 1.5% | ||
| Q2 24 | 23.4% | 2.2% | ||
| Q1 24 | 22.6% | 1.1% |
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
ATEC
暂无分部数据
GKOS
| Glaucoma | $86.4M | 60% |
| Other | $35.1M | 25% |
| Corneal Health | $21.6M | 15% |
