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Alphatec Holdings, Inc.（ATEC）与H2O AMERICA（HTO）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H2O AMERICA的1.1倍（$212.9M vs $199.4M），H2O AMERICA净利率更高（8.1% vs -10.2%，领先18.3%），Alphatec Holdings, Inc.同比增速更快（20.4% vs 1.5%），过去两年Alphatec Holdings, Inc.的营收复合增速更高（24.0% vs 15.3%）
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。
H2O Wireless是美国的预付费移动通信服务商，依托AT&T网络运营，隶属于MVNO（移动虚拟网络运营商）Locus通信，自2019年起Locus成为Telrite控股的子公司，此前2010年起曾是KDDI美国旗下资产。该品牌主打无限制套餐服务，支持用户自带或购买无锁智能手机入网，AT&T合约机/锁网机也可兼容使用。
ATEC vs HTO — 直观对比
营收规模更大
ATEC
是对方的1.1倍
$199.4M
营收增速更快
ATEC
高出19.0%
1.5%
净利率更高
HTO
高出18.3%
-10.2%
两年增速更快
ATEC
近两年复合增速
15.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $199.4M |
| 净利润 | $-21.7M | $16.2M |
| 毛利率 | 70.2% | — |
| 营业利润率 | -4.1% | 16.6% |
| 净利率 | -10.2% | 8.1% |
| 营收同比 | 20.4% | 1.5% |
| 净利润同比 | 34.8% | -29.2% |
| 每股收益（稀释后） | $-0.15 | $0.45 |
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ATECHTO
| Q4 25 | $212.9M | $199.4M | ||
| Q3 25 | $196.5M | $243.5M | ||
| Q2 25 | $185.5M | $197.8M | ||
| Q1 25 | $169.2M | $164.9M | ||
| Q4 24 | $176.8M | $196.5M | ||
| Q3 24 | $150.7M | $216.7M | ||
| Q2 24 | $145.6M | $173.1M | ||
| Q1 24 | $138.5M | $150.0M |
净利润ATECHTO
| Q4 25 | $-21.7M | $16.2M | ||
| Q3 25 | $-28.6M | $45.1M | ||
| Q2 25 | $-41.1M | $24.7M | ||
| Q1 25 | $-51.9M | $16.6M | ||
| Q4 24 | $-33.3M | $22.9M | ||
| Q3 24 | $-39.6M | $38.7M | ||
| Q2 24 | $-40.7M | $20.7M | ||
| Q1 24 | $-48.5M | $11.7M |
毛利率ATECHTO
| Q4 25 | 70.2% | — | ||
| Q3 25 | 69.9% | — | ||
| Q2 25 | 69.6% | — | ||
| Q1 25 | 68.6% | — | ||
| Q4 24 | 68.8% | — | ||
| Q3 24 | 68.2% | — | ||
| Q2 24 | 70.5% | — | ||
| Q1 24 | 70.3% | — |
营业利润率ATECHTO
| Q4 25 | -4.1% | 16.6% | ||
| Q3 25 | -8.1% | 26.5% | ||
| Q2 25 | -7.1% | 22.2% | ||
| Q1 25 | -26.2% | 21.8% | ||
| Q4 24 | -13.5% | 22.2% | ||
| Q3 24 | -22.4% | 26.9% | ||
| Q2 24 | -24.3% | 23.4% | ||
| Q1 24 | -31.3% | 18.6% |
净利率ATECHTO
| Q4 25 | -10.2% | 8.1% | ||
| Q3 25 | -14.5% | 18.5% | ||
| Q2 25 | -22.2% | 12.5% | ||
| Q1 25 | -30.7% | 10.0% | ||
| Q4 24 | -18.9% | 11.7% | ||
| Q3 24 | -26.3% | 17.8% | ||
| Q2 24 | -27.9% | 12.0% | ||
| Q1 24 | -35.0% | 7.8% |
每股收益（稀释后）ATECHTO
| Q4 25 | $-0.15 | $0.45 | ||
| Q3 25 | $-0.19 | $1.27 | ||
| Q2 25 | $-0.27 | $0.71 | ||
| Q1 25 | $-0.35 | $0.49 | ||
| Q4 24 | $-0.22 | $0.70 | ||
| Q3 24 | $-0.28 | $1.17 | ||
| Q2 24 | $-0.29 | $0.64 | ||
| Q1 24 | $-0.34 | $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 | $160.8M | $20.7M |
| 总债务越低越好 | $565.9M | $1.9B |
| 股东权益账面价值 | $12.4M | $1.5B |
| 总资产 | $791.2M | $5.1B |
| 负债/权益比越低杠杆越低 | 45.54× | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资ATECHTO
| Q4 25 | $160.8M | $20.7M | ||
| Q3 25 | $155.7M | $11.3M | ||
| Q2 25 | $157.1M | $19.8M | ||
| Q1 25 | $153.2M | $23.7M | ||
| Q4 24 | $138.8M | $11.1M | ||
| Q3 24 | $81.0M | $4.0M | ||
| Q2 24 | $99.8M | $22.8M | ||
| Q1 24 | $144.1M | $4.5M |
总债务ATECHTO
| Q4 25 | $565.9M | $1.9B | ||
| Q3 25 | $559.7M | — | ||
| Q2 25 | $553.9M | — | ||
| Q1 25 | $548.4M | — | ||
| Q4 24 | $576.2M | $1.7B | ||
| Q3 24 | $527.7M | — | ||
| Q2 24 | $519.2M | — | ||
| Q1 24 | $514.4M | — |
股东权益ATECHTO
| Q4 25 | $12.4M | $1.5B | ||
| Q3 25 | $11.5M | $1.5B | ||
| Q2 25 | $23.8M | $1.5B | ||
| Q1 25 | $-85.9M | $1.4B | ||
| Q4 24 | $-14.2M | $1.4B | ||
| Q3 24 | $-1.4M | $1.3B | ||
| Q2 24 | $17.1M | $1.3B | ||
| Q1 24 | $37.6M | $1.2B |
总资产ATECHTO
| Q4 25 | $791.2M | $5.1B | ||
| Q3 25 | $787.2M | $5.0B | ||
| Q2 25 | $790.3M | $4.8B | ||
| Q1 25 | $785.5M | $4.7B | ||
| Q4 24 | $775.7M | $4.7B | ||
| Q3 24 | $745.9M | $4.6B | ||
| Q2 24 | $768.6M | $4.4B | ||
| Q1 24 | $774.6M | $4.4B |
负债/权益比ATECHTO
| Q4 25 | 45.54× | 1.23× | ||
| Q3 25 | 48.64× | — | ||
| Q2 25 | 23.30× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.26× | ||
| 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 | $63.5M |
| 自由现金流经营现金流 - 资本支出 | $7.7M | — |
| 自由现金流率自由现金流/营收 | 3.6% | — |
| 资本支出强度资本支出/营收 | 6.1% | — |
| 现金转化率经营现金流/净利润 | — | 3.92× |
| 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ATECHTO
| Q4 25 | $20.7M | $63.5M | ||
| Q3 25 | $14.0M | $77.3M | ||
| Q2 25 | $15.5M | $60.8M | ||
| Q1 25 | $-5.0M | $43.2M | ||
| Q4 24 | $10.5M | $41.5M | ||
| Q3 24 | $-5.3M | $53.5M | ||
| Q2 24 | $-11.4M | $49.3M | ||
| Q1 24 | $-38.4M | $51.2M |
自由现金流ATECHTO
| 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 | — | ||
| Q1 24 | $-69.8M | — |
自由现金流率ATECHTO
| 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% | — | ||
| Q1 24 | -50.4% | — |
资本支出强度ATECHTO
| 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% | — | ||
| Q1 24 | 22.6% | — |
现金转化率ATECHTO
| Q4 25 | — | 3.92× | ||
| Q3 25 | — | 1.71× | ||
| Q2 25 | — | 2.47× | ||
| Q1 25 | — | 2.61× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | 1.39× | ||
| Q2 24 | — | 2.38× | ||
| Q1 24 | — | 4.38× |
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
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
