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Alphatec Holdings, Inc.（ATEC）与Stitch Fix, Inc.（SFIX）财务数据对比。点击上方公司名可切换其他公司
Stitch Fix, Inc.的季度营收约是Alphatec Holdings, Inc.的1.6倍（$342.1M vs $212.9M），Stitch Fix, Inc.净利率更高（-1.9% vs -10.2%，领先8.3%），Alphatec Holdings, Inc.同比增速更快（20.4% vs 7.3%），Alphatec Holdings, Inc.自由现金流更多（$7.7M vs $5.6M），过去两年Alphatec Holdings, Inc.的营收复合增速更高（24.0% vs 1.8%）
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。
Stitch Fix是美国的在线个人造型服务平台，依托推荐算法与数据科学技术，根据顾客的身形尺寸、预算和风格偏好推送个性化服饰单品。该公司创立于2011年，2017年完成首次公开募股，目前总部位于旧金山。
ATEC vs SFIX — 直观对比
营收规模更大
SFIX
是对方的1.6倍
$212.9M
营收增速更快
ATEC
高出13.1%
7.3%
净利率更高
SFIX
高出8.3%
-10.2%
自由现金流更多
ATEC
多$2.1M
$5.6M
两年增速更快
ATEC
近两年复合增速
1.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $342.1M |
| 净利润 | $-21.7M | $-6.4M |
| 毛利率 | 70.2% | 43.6% |
| 营业利润率 | -4.1% | -2.5% |
| 净利率 | -10.2% | -1.9% |
| 营收同比 | 20.4% | 7.3% |
| 净利润同比 | 34.8% | -1.7% |
| 每股收益（稀释后） | $-0.15 | $-0.05 |
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ATECSFIX
| Q4 25 | $212.9M | $342.1M | ||
| Q3 25 | $196.5M | $311.2M | ||
| Q2 25 | $185.5M | $325.0M | ||
| Q1 25 | $169.2M | $312.1M | ||
| Q4 24 | $176.8M | $318.8M | ||
| Q3 24 | $150.7M | $319.6M | ||
| Q2 24 | $145.6M | $322.7M | ||
| Q1 24 | $138.5M | $330.4M |
净利润ATECSFIX
| Q4 25 | $-21.7M | $-6.4M | ||
| Q3 25 | $-28.6M | $-8.6M | ||
| Q2 25 | $-41.1M | $-7.4M | ||
| Q1 25 | $-51.9M | $-6.5M | ||
| Q4 24 | $-33.3M | $-6.3M | ||
| Q3 24 | $-39.6M | $-36.5M | ||
| Q2 24 | $-40.7M | $-21.3M | ||
| Q1 24 | $-48.5M | $-35.5M |
毛利率ATECSFIX
| Q4 25 | 70.2% | 43.6% | ||
| Q3 25 | 69.9% | 43.6% | ||
| Q2 25 | 69.6% | 44.2% | ||
| Q1 25 | 68.6% | 44.5% | ||
| Q4 24 | 68.8% | 45.4% | ||
| Q3 24 | 68.2% | 44.6% | ||
| Q2 24 | 70.5% | 45.5% | ||
| Q1 24 | 70.3% | 43.4% |
营业利润率ATECSFIX
| Q4 25 | -4.1% | -2.5% | ||
| Q3 25 | -8.1% | -3.6% | ||
| Q2 25 | -7.1% | -3.0% | ||
| Q1 25 | -26.2% | -2.9% | ||
| Q4 24 | -13.5% | -2.8% | ||
| Q3 24 | -22.4% | -13.1% | ||
| Q2 24 | -24.3% | -7.7% | ||
| Q1 24 | -31.3% | -11.5% |
净利率ATECSFIX
| Q4 25 | -10.2% | -1.9% | ||
| Q3 25 | -14.5% | -2.8% | ||
| Q2 25 | -22.2% | -2.3% | ||
| Q1 25 | -30.7% | -2.1% | ||
| Q4 24 | -18.9% | -2.0% | ||
| Q3 24 | -26.3% | -11.4% | ||
| Q2 24 | -27.9% | -6.6% | ||
| Q1 24 | -35.0% | -10.8% |
每股收益（稀释后）ATECSFIX
| Q4 25 | $-0.15 | $-0.05 | ||
| Q3 25 | $-0.19 | $-0.06 | ||
| Q2 25 | $-0.27 | $-0.06 | ||
| Q1 25 | $-0.35 | $-0.05 | ||
| Q4 24 | $-0.22 | $-0.05 | ||
| Q3 24 | $-0.28 | $-0.29 | ||
| Q2 24 | $-0.29 | $-0.18 | ||
| Q1 24 | $-0.34 | $-0.30 |
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 | $244.2M |
| 总债务越低越好 | $565.9M | — |
| 股东权益账面价值 | $12.4M | $204.1M |
| 总资产 | $791.2M | $530.7M |
| 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ATECSFIX
| Q4 25 | $160.8M | $244.2M | ||
| Q3 25 | $155.7M | $234.9M | ||
| Q2 25 | $157.1M | $234.2M | ||
| Q1 25 | $153.2M | $219.1M | ||
| Q4 24 | $138.8M | $253.3M | ||
| Q3 24 | $81.0M | $247.0M | ||
| Q2 24 | $99.8M | $244.5M | ||
| Q1 24 | $144.1M | $229.8M |
总债务ATECSFIX
| 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ATECSFIX
| Q4 25 | $12.4M | $204.1M | ||
| Q3 25 | $11.5M | $203.0M | ||
| Q2 25 | $23.8M | $200.4M | ||
| Q1 25 | $-85.9M | $197.8M | ||
| Q4 24 | $-14.2M | $190.5M | ||
| Q3 24 | $-1.4M | $187.0M | ||
| Q2 24 | $17.1M | $208.9M | ||
| Q1 24 | $37.6M | $213.3M |
总资产ATECSFIX
| Q4 25 | $791.2M | $530.7M | ||
| Q3 25 | $787.2M | $480.6M | ||
| Q2 25 | $790.3M | $484.7M | ||
| Q1 25 | $785.5M | $472.6M | ||
| Q4 24 | $775.7M | $507.1M | ||
| Q3 24 | $745.9M | $486.9M | ||
| Q2 24 | $768.6M | $537.0M | ||
| Q1 24 | $774.6M | $538.3M |
负债/权益比ATECSFIX
| 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 | $10.9M |
| 自由现金流经营现金流 - 资本支出 | $7.7M | $5.6M |
| 自由现金流率自由现金流/营收 | 3.6% | 1.6% |
| 资本支出强度资本支出/营收 | 6.1% | 1.6% |
| 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 | $4.9M |
8季度趋势，按日历期对齐
经营现金流ATECSFIX
| Q4 25 | $20.7M | $10.9M | ||
| Q3 25 | $14.0M | $7.0M | ||
| Q2 25 | $15.5M | $20.5M | ||
| Q1 25 | $-5.0M | $-16.2M | ||
| Q4 24 | $10.5M | $14.3M | ||
| Q3 24 | $-5.3M | $8.2M | ||
| Q2 24 | $-11.4M | $21.7M | ||
| Q1 24 | $-38.4M | $-22.3M |
自由现金流ATECSFIX
| Q4 25 | $7.7M | $5.6M | ||
| Q3 25 | $4.8M | $2.8M | ||
| Q2 25 | $5.2M | $16.0M | ||
| Q1 25 | $-15.0M | $-19.4M | ||
| Q4 24 | $8.5M | $9.9M | ||
| Q3 24 | $-21.2M | $4.5M | ||
| Q2 24 | $-45.5M | $18.9M | ||
| Q1 24 | $-69.8M | $-26.1M |
自由现金流率ATECSFIX
| Q4 25 | 3.6% | 1.6% | ||
| Q3 25 | 2.4% | 0.9% | ||
| Q2 25 | 2.8% | 4.9% | ||
| Q1 25 | -8.9% | -6.2% | ||
| Q4 24 | 4.8% | 3.1% | ||
| Q3 24 | -14.1% | 1.4% | ||
| Q2 24 | -31.3% | 5.9% | ||
| Q1 24 | -50.4% | -7.9% |
资本支出强度ATECSFIX
| Q4 25 | 6.1% | 1.6% | ||
| Q3 25 | 4.7% | 1.4% | ||
| Q2 25 | 5.6% | 1.4% | ||
| Q1 25 | 5.9% | 1.0% | ||
| Q4 24 | 1.1% | 1.4% | ||
| Q3 24 | 10.5% | 1.2% | ||
| Q2 24 | 23.4% | 0.9% | ||
| 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
