vs
Alphatec Holdings, Inc.（ATEC）与KADANT INC（KAI）财务数据对比。点击上方公司名可切换其他公司
KADANT INC的季度营收约是Alphatec Holdings, Inc.的1.3倍（$271.6M vs $212.9M），KADANT INC净利率更高（10.2% vs -10.2%，领先20.4%），Alphatec Holdings, Inc.同比增速更快（20.4% vs -0.0%），KADANT INC自由现金流更多（$44.1M vs $7.7M），过去两年Alphatec Holdings, Inc.的营收复合增速更高（24.0% vs 6.7%）
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。
Kadant Inc.创立于1991年，最初是Thermo Electron的子公司，部分股权私有、部分公开交易，2001年完成完全分拆并启用现名。公司服务于造纸、废纸回收、木材加工、物料搬运等多个加工领域，是业务覆盖亚洲、欧洲、北美、南美的跨国企业。
ATEC vs KAI — 直观对比
营收规模更大
KAI
是对方的1.3倍
$212.9M
营收增速更快
ATEC
高出20.5%
-0.0%
净利率更高
KAI
高出20.4%
-10.2%
自由现金流更多
KAI
多$36.3M
$7.7M
两年增速更快
ATEC
近两年复合增速
6.7%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $271.6M |
| 净利润 | $-21.7M | $27.7M |
| 毛利率 | 70.2% | 45.2% |
| 营业利润率 | -4.1% | 15.7% |
| 净利率 | -10.2% | 10.2% |
| 营收同比 | 20.4% | -0.0% |
| 净利润同比 | 34.8% | -12.2% |
| 每股收益（稀释后） | $-0.15 | $2.35 |
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ATECKAI
| Q4 25 | $212.9M | — | ||
| Q3 25 | $196.5M | $271.6M | ||
| Q2 25 | $185.5M | $255.3M | ||
| Q1 25 | $169.2M | $239.2M | ||
| Q4 24 | $176.8M | $258.0M | ||
| Q3 24 | $150.7M | $271.6M | ||
| Q2 24 | $145.6M | $274.8M | ||
| Q1 24 | $138.5M | $249.0M |
净利润ATECKAI
| Q4 25 | $-21.7M | — | ||
| Q3 25 | $-28.6M | $27.7M | ||
| Q2 25 | $-41.1M | $26.2M | ||
| Q1 25 | $-51.9M | $24.1M | ||
| Q4 24 | $-33.3M | $24.0M | ||
| Q3 24 | $-39.6M | $31.6M | ||
| Q2 24 | $-40.7M | $31.3M | ||
| Q1 24 | $-48.5M | $24.7M |
毛利率ATECKAI
| Q4 25 | 70.2% | — | ||
| Q3 25 | 69.9% | 45.2% | ||
| Q2 25 | 69.6% | 45.9% | ||
| Q1 25 | 68.6% | 46.1% | ||
| Q4 24 | 68.8% | 43.4% | ||
| Q3 24 | 68.2% | 44.7% | ||
| Q2 24 | 70.5% | 44.4% | ||
| Q1 24 | 70.3% | 44.6% |
营业利润率ATECKAI
| Q4 25 | -4.1% | — | ||
| Q3 25 | -8.1% | 15.7% | ||
| Q2 25 | -7.1% | 15.4% | ||
| Q1 25 | -26.2% | 14.9% | ||
| Q4 24 | -13.5% | 14.3% | ||
| Q3 24 | -22.4% | 18.0% | ||
| Q2 24 | -24.3% | 17.6% | ||
| Q1 24 | -31.3% | 14.8% |
净利率ATECKAI
| Q4 25 | -10.2% | — | ||
| Q3 25 | -14.5% | 10.2% | ||
| Q2 25 | -22.2% | 10.2% | ||
| Q1 25 | -30.7% | 10.1% | ||
| Q4 24 | -18.9% | 9.3% | ||
| Q3 24 | -26.3% | 11.6% | ||
| Q2 24 | -27.9% | 11.4% | ||
| Q1 24 | -35.0% | 9.9% |
每股收益（稀释后）ATECKAI
| Q4 25 | $-0.15 | — | ||
| Q3 25 | $-0.19 | $2.35 | ||
| Q2 25 | $-0.27 | $2.22 | ||
| Q1 25 | $-0.35 | $2.04 | ||
| Q4 24 | $-0.22 | $2.04 | ||
| Q3 24 | $-0.28 | $2.68 | ||
| Q2 24 | $-0.29 | $2.66 | ||
| Q1 24 | $-0.34 | $2.10 |
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 | $124.5M |
| 总债务越低越好 | $565.9M | $254.6M |
| 股东权益账面价值 | $12.4M | $949.8M |
| 总资产 | $791.2M | $1.5B |
| 负债/权益比越低杠杆越低 | 45.54× | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资ATECKAI
| Q4 25 | $160.8M | — | ||
| Q3 25 | $155.7M | $124.5M | ||
| Q2 25 | $157.1M | $95.3M | ||
| Q1 25 | $153.2M | $91.7M | ||
| Q4 24 | $138.8M | $94.7M | ||
| Q3 24 | $81.0M | $88.4M | ||
| Q2 24 | $99.8M | $73.8M | ||
| Q1 24 | $144.1M | $81.4M |
总债务ATECKAI
| Q4 25 | $565.9M | — | ||
| Q3 25 | $559.7M | $254.6M | ||
| Q2 25 | $553.9M | $245.7M | ||
| Q1 25 | $548.4M | $273.5M | ||
| Q4 24 | $576.2M | $285.2M | ||
| Q3 24 | $527.7M | $323.2M | ||
| Q2 24 | $519.2M | $342.0M | ||
| Q1 24 | $514.4M | $306.8M |
股东权益ATECKAI
| Q4 25 | $12.4M | — | ||
| Q3 25 | $11.5M | $949.8M | ||
| Q2 25 | $23.8M | $926.0M | ||
| Q1 25 | $-85.9M | $876.0M | ||
| Q4 24 | $-14.2M | $847.1M | ||
| Q3 24 | $-1.4M | $851.7M | ||
| Q2 24 | $17.1M | $807.7M | ||
| Q1 24 | $37.6M | $782.7M |
总资产ATECKAI
| Q4 25 | $791.2M | — | ||
| Q3 25 | $787.2M | $1.5B | ||
| Q2 25 | $790.3M | $1.5B | ||
| Q1 25 | $785.5M | $1.4B | ||
| Q4 24 | $775.7M | $1.4B | ||
| Q3 24 | $745.9M | $1.5B | ||
| Q2 24 | $768.6M | $1.5B | ||
| Q1 24 | $774.6M | $1.4B |
负债/权益比ATECKAI
| Q4 25 | 45.54× | — | ||
| Q3 25 | 48.64× | 0.27× | ||
| Q2 25 | 23.30× | 0.27× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | 30.34× | 0.42× | ||
| Q1 24 | 13.70× | 0.39× |
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 | $47.3M |
| 自由现金流经营现金流 - 资本支出 | $7.7M | $44.1M |
| 自由现金流率自由现金流/营收 | 3.6% | 16.2% |
| 资本支出强度资本支出/营收 | 6.1% | 1.2% |
| 现金转化率经营现金流/净利润 | — | 1.70× |
| 过去12个月自由现金流最近4个季度 | $2.8M | $145.9M |
8季度趋势，按日历期对齐
经营现金流ATECKAI
| Q4 25 | $20.7M | — | ||
| Q3 25 | $14.0M | $47.3M | ||
| Q2 25 | $15.5M | $40.5M | ||
| Q1 25 | $-5.0M | $22.8M | ||
| Q4 24 | $10.5M | $51.9M | ||
| Q3 24 | $-5.3M | $52.5M | ||
| Q2 24 | $-11.4M | $28.1M | ||
| Q1 24 | $-38.4M | $22.8M |
自由现金流ATECKAI
| Q4 25 | $7.7M | — | ||
| Q3 25 | $4.8M | $44.1M | ||
| Q2 25 | $5.2M | $36.5M | ||
| Q1 25 | $-15.0M | $19.0M | ||
| Q4 24 | $8.5M | $46.3M | ||
| Q3 24 | $-21.2M | $48.3M | ||
| Q2 24 | $-45.5M | $23.1M | ||
| Q1 24 | $-69.8M | $16.6M |
自由现金流率ATECKAI
| Q4 25 | 3.6% | — | ||
| Q3 25 | 2.4% | 16.2% | ||
| Q2 25 | 2.8% | 14.3% | ||
| Q1 25 | -8.9% | 7.9% | ||
| Q4 24 | 4.8% | 17.9% | ||
| Q3 24 | -14.1% | 17.8% | ||
| Q2 24 | -31.3% | 8.4% | ||
| Q1 24 | -50.4% | 6.7% |
资本支出强度ATECKAI
| Q4 25 | 6.1% | — | ||
| Q3 25 | 4.7% | 1.2% | ||
| Q2 25 | 5.6% | 1.6% | ||
| Q1 25 | 5.9% | 1.6% | ||
| Q4 24 | 1.1% | 2.2% | ||
| Q3 24 | 10.5% | 1.5% | ||
| Q2 24 | 23.4% | 1.8% | ||
| Q1 24 | 22.6% | 2.5% |
现金转化率ATECKAI
| Q4 25 | — | — | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.55× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | — | 2.16× | ||
| Q3 24 | — | 1.66× | ||
| Q2 24 | — | 0.90× | ||
| Q1 24 | — | 0.92× |
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
KAI
| Flow Control | $94.8M | 35% |
| Capital | $83.2M | 31% |
| Material Handling Systems | $70.3M | 26% |
| Transferred Over Time | $17.1M | 6% |
| Other | $6.1M | 2% |
