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Alphatec Holdings, Inc.（ATEC）与National Storage Affiliates Trust（NSA）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National Storage Affiliates Trust的1.1倍（$212.9M vs $187.0M），National Storage Affiliates Trust净利率更高（12.2% vs -10.2%，领先22.4%），Alphatec Holdings, Inc.同比增速更快（20.4% vs -1.6%），National Storage Affiliates Trust自由现金流更多（$299.8M vs $7.7M），过去两年Alphatec Holdings, Inc.的营收复合增速更高（24.0% vs -2.4%）
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。
National Storage Affiliates Trust是一家总部位于美国的房地产投资信托，专注于自助仓储资产，在美国数十个州持有、运营及收购自助仓储设施，为居民和商业客户提供安全的存储服务。
ATEC vs NSA — 直观对比
营收规模更大
ATEC
是对方的1.1倍
$187.0M
营收增速更快
ATEC
高出22.1%
-1.6%
净利率更高
NSA
高出22.4%
-10.2%
自由现金流更多
NSA
多$292.1M
$7.7M
两年增速更快
ATEC
近两年复合增速
-2.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $187.0M |
| 净利润 | $-21.7M | $22.9M |
| 毛利率 | 70.2% | 72.5% |
| 营业利润率 | -4.1% | 20.2% |
| 净利率 | -10.2% | 12.2% |
| 营收同比 | 20.4% | -1.6% |
| 净利润同比 | 34.8% | 36.8% |
| 每股收益（稀释后） | $-0.15 | $0.23 |
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ATECNSA
| Q4 25 | $212.9M | $187.0M | ||
| Q3 25 | $196.5M | $188.7M | ||
| Q2 25 | $185.5M | $188.8M | ||
| Q1 25 | $169.2M | $188.4M | ||
| Q4 24 | $176.8M | $190.1M | ||
| Q3 24 | $150.7M | $193.6M | ||
| Q2 24 | $145.6M | $190.4M | ||
| Q1 24 | $138.5M | $196.1M |
净利润ATECNSA
| Q4 25 | $-21.7M | $22.9M | ||
| Q3 25 | $-28.6M | $18.4M | ||
| Q2 25 | $-41.1M | $19.5M | ||
| Q1 25 | $-51.9M | $13.0M | ||
| Q4 24 | $-33.3M | $16.7M | ||
| Q3 24 | $-39.6M | $18.7M | ||
| Q2 24 | $-40.7M | $17.1M | ||
| Q1 24 | $-48.5M | $59.0M |
毛利率ATECNSA
| Q4 25 | 70.2% | 72.5% | ||
| Q3 25 | 69.9% | 70.7% | ||
| Q2 25 | 69.6% | 70.5% | ||
| Q1 25 | 68.6% | 70.7% | ||
| Q4 24 | 68.8% | 72.5% | ||
| Q3 24 | 68.2% | 72.8% | ||
| Q2 24 | 70.5% | 72.6% | ||
| Q1 24 | 70.3% | 72.1% |
营业利润率ATECNSA
| Q4 25 | -4.1% | 20.2% | ||
| Q3 25 | -8.1% | 15.8% | ||
| Q2 25 | -7.1% | 16.5% | ||
| Q1 25 | -26.2% | 11.0% | ||
| Q4 24 | -13.5% | 14.5% | ||
| Q3 24 | -22.4% | 15.8% | ||
| Q2 24 | -24.3% | 17.2% | ||
| Q1 24 | -31.3% | 48.9% |
净利率ATECNSA
| Q4 25 | -10.2% | 12.2% | ||
| Q3 25 | -14.5% | 9.8% | ||
| Q2 25 | -22.2% | 10.3% | ||
| Q1 25 | -30.7% | 6.9% | ||
| Q4 24 | -18.9% | 8.8% | ||
| Q3 24 | -26.3% | 9.7% | ||
| Q2 24 | -27.9% | 9.0% | ||
| Q1 24 | -35.0% | 30.1% |
每股收益（稀释后）ATECNSA
| Q4 25 | $-0.15 | $0.23 | ||
| Q3 25 | $-0.19 | $0.17 | ||
| Q2 25 | $-0.27 | $0.19 | ||
| Q1 25 | $-0.35 | $0.10 | ||
| Q4 24 | $-0.22 | $0.19 | ||
| Q3 24 | $-0.28 | $0.18 | ||
| Q2 24 | $-0.29 | $0.16 | ||
| Q1 24 | $-0.34 | $0.65 |
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 | $23.3M |
| 总债务越低越好 | $565.9M | — |
| 股东权益账面价值 | $12.4M | $946.0M |
| 总资产 | $791.2M | $5.1B |
| 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ATECNSA
| Q4 25 | $160.8M | $23.3M | ||
| Q3 25 | $155.7M | $26.3M | ||
| Q2 25 | $157.1M | $26.1M | ||
| Q1 25 | $153.2M | $19.3M | ||
| Q4 24 | $138.8M | $50.4M | ||
| Q3 24 | $81.0M | $69.9M | ||
| Q2 24 | $99.8M | $59.0M | ||
| Q1 24 | $144.1M | $64.2M |
总债务ATECNSA
| 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ATECNSA
| Q4 25 | $12.4M | $946.0M | ||
| Q3 25 | $11.5M | $973.1M | ||
| Q2 25 | $23.8M | $1.0B | ||
| Q1 25 | $-85.9M | $1.0B | ||
| Q4 24 | $-14.2M | $1.1B | ||
| Q3 24 | $-1.4M | $986.9M | ||
| Q2 24 | $17.1M | $1.2B | ||
| Q1 24 | $37.6M | $1.3B |
总资产ATECNSA
| Q4 25 | $791.2M | $5.1B | ||
| Q3 25 | $787.2M | $5.1B | ||
| Q2 25 | $790.3M | $5.2B | ||
| Q1 25 | $785.5M | $5.3B | ||
| Q4 24 | $775.7M | $5.4B | ||
| Q3 24 | $745.9M | $5.4B | ||
| Q2 24 | $768.6M | $5.3B | ||
| Q1 24 | $774.6M | $5.4B |
负债/权益比ATECNSA
| 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 | $338.5M |
| 自由现金流经营现金流 - 资本支出 | $7.7M | $299.8M |
| 自由现金流率自由现金流/营收 | 3.6% | 160.3% |
| 资本支出强度资本支出/营收 | 6.1% | 20.7% |
| 现金转化率经营现金流/净利润 | — | 14.79× |
| 过去12个月自由现金流最近4个季度 | $2.8M | $541.5M |
8季度趋势，按日历期对齐
经营现金流ATECNSA
| Q4 25 | $20.7M | $338.5M | ||
| Q3 25 | $14.0M | $100.2M | ||
| Q2 25 | $15.5M | $79.9M | ||
| Q1 25 | $-5.0M | $85.6M | ||
| Q4 24 | $10.5M | $363.1M | ||
| Q3 24 | $-5.3M | $105.7M | ||
| Q2 24 | $-11.4M | $83.2M | ||
| Q1 24 | $-38.4M | $94.0M |
自由现金流ATECNSA
| Q4 25 | $7.7M | $299.8M | ||
| Q3 25 | $4.8M | $88.0M | ||
| Q2 25 | $5.2M | $73.8M | ||
| Q1 25 | $-15.0M | $79.9M | ||
| Q4 24 | $8.5M | $344.4M | ||
| Q3 24 | $-21.2M | $101.8M | ||
| Q2 24 | $-45.5M | $79.5M | ||
| Q1 24 | $-69.8M | $88.6M |
自由现金流率ATECNSA
| Q4 25 | 3.6% | 160.3% | ||
| Q3 25 | 2.4% | 46.6% | ||
| Q2 25 | 2.8% | 39.1% | ||
| Q1 25 | -8.9% | 42.4% | ||
| Q4 24 | 4.8% | 181.2% | ||
| Q3 24 | -14.1% | 52.6% | ||
| Q2 24 | -31.3% | 41.7% | ||
| Q1 24 | -50.4% | 45.2% |
资本支出强度ATECNSA
| Q4 25 | 6.1% | 20.7% | ||
| Q3 25 | 4.7% | 6.5% | ||
| Q2 25 | 5.6% | 3.2% | ||
| Q1 25 | 5.9% | 3.0% | ||
| Q4 24 | 1.1% | 9.8% | ||
| Q3 24 | 10.5% | 2.0% | ||
| Q2 24 | 23.4% | 1.9% | ||
| Q1 24 | 22.6% | 2.7% |
现金转化率ATECNSA
| Q4 25 | — | 14.79× | ||
| Q3 25 | — | 5.44× | ||
| Q2 25 | — | 4.10× | ||
| Q1 25 | — | 6.59× | ||
| Q4 24 | — | 21.70× | ||
| Q3 24 | — | 5.65× | ||
| Q2 24 | — | 4.88× | ||
| Q1 24 | — | 1.59× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
