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Alphatec Holdings, Inc.（ATEC）与null（SWIM）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null的1.8倍（$212.9M vs $117.3M），null净利率更高（-7.3% vs -10.2%，领先2.9%），Alphatec Holdings, Inc.同比增速更快（20.4% vs 5.3%），过去两年Alphatec Holdings, Inc.的营收复合增速更高（24.0% vs -14.4%）
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。
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
ATEC vs SWIM — 直观对比
营收规模更大
ATEC
是对方的1.8倍
$117.3M
营收增速更快
ATEC
高出15.1%
5.3%
净利率更高
SWIM
高出2.9%
-10.2%
两年增速更快
ATEC
近两年复合增速
-14.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $117.3M |
| 净利润 | $-21.7M | $-8.5M |
| 毛利率 | 70.2% | 31.7% |
| 营业利润率 | -4.1% | — |
| 净利率 | -10.2% | -7.3% |
| 营收同比 | 20.4% | 5.3% |
| 净利润同比 | 34.8% | -43.1% |
| 每股收益（稀释后） | $-0.15 | $-0.07 |
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ATECSWIM
| Q1 26 | — | $117.3M | ||
| Q4 25 | $212.9M | $100.0M | ||
| Q3 25 | $196.5M | $161.9M | ||
| Q2 25 | $185.5M | $172.6M | ||
| Q1 25 | $169.2M | $111.4M | ||
| Q4 24 | $176.8M | $87.3M | ||
| Q3 24 | $150.7M | $150.5M | ||
| Q2 24 | $145.6M | $160.1M |
净利润ATECSWIM
| Q1 26 | — | $-8.5M | ||
| Q4 25 | $-21.7M | $-7.0M | ||
| Q3 25 | $-28.6M | $8.1M | ||
| Q2 25 | $-41.1M | $16.0M | ||
| Q1 25 | $-51.9M | $-6.0M | ||
| Q4 24 | $-33.3M | $-29.2M | ||
| Q3 24 | $-39.6M | $5.9M | ||
| Q2 24 | $-40.7M | $13.3M |
毛利率ATECSWIM
| Q1 26 | — | 31.7% | ||
| Q4 25 | 70.2% | 28.0% | ||
| Q3 25 | 69.9% | 35.4% | ||
| Q2 25 | 69.6% | 37.1% | ||
| Q1 25 | 68.6% | 29.5% | ||
| Q4 24 | 68.8% | 24.6% | ||
| Q3 24 | 68.2% | 32.4% | ||
| Q2 24 | 70.5% | 33.1% |
营业利润率ATECSWIM
| Q1 26 | — | — | ||
| Q4 25 | -4.1% | -10.7% | ||
| Q3 25 | -8.1% | 13.3% | ||
| Q2 25 | -7.1% | 14.3% | ||
| Q1 25 | -26.2% | -4.4% | ||
| Q4 24 | -13.5% | -14.9% | ||
| Q3 24 | -22.4% | 8.9% | ||
| Q2 24 | -24.3% | 12.5% |
净利率ATECSWIM
| Q1 26 | — | -7.3% | ||
| Q4 25 | -10.2% | -7.0% | ||
| Q3 25 | -14.5% | 5.0% | ||
| Q2 25 | -22.2% | 9.3% | ||
| Q1 25 | -30.7% | -5.4% | ||
| Q4 24 | -18.9% | -33.4% | ||
| Q3 24 | -26.3% | 3.9% | ||
| Q2 24 | -27.9% | 8.3% |
每股收益（稀释后）ATECSWIM
| Q1 26 | — | $-0.07 | ||
| Q4 25 | $-0.15 | $-0.06 | ||
| Q3 25 | $-0.19 | $0.07 | ||
| Q2 25 | $-0.27 | $0.13 | ||
| Q1 25 | $-0.35 | $-0.05 | ||
| Q4 24 | $-0.22 | $-0.24 | ||
| Q3 24 | $-0.28 | $0.05 | ||
| Q2 24 | $-0.29 | $0.11 |
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 | — |
| 总债务越低越好 | $565.9M | $3.3M |
| 股东权益账面价值 | $12.4M | $396.7M |
| 总资产 | $791.2M | $856.4M |
| 负债/权益比越低杠杆越低 | 45.54× | 0.01× |
8季度趋势，按日历期对齐
现金及短期投资ATECSWIM
| Q1 26 | — | — | ||
| Q4 25 | $160.8M | — | ||
| Q3 25 | $155.7M | — | ||
| Q2 25 | $157.1M | — | ||
| Q1 25 | $153.2M | — | ||
| Q4 24 | $138.8M | — | ||
| Q3 24 | $81.0M | — | ||
| Q2 24 | $99.8M | — |
总债务ATECSWIM
| Q1 26 | — | $3.3M | ||
| Q4 25 | $565.9M | $279.8M | ||
| Q3 25 | $559.7M | $281.1M | ||
| Q2 25 | $553.9M | $281.5M | ||
| Q1 25 | $548.4M | $306.9M | ||
| Q4 24 | $576.2M | $281.5M | ||
| Q3 24 | $527.7M | $282.8M | ||
| Q2 24 | $519.2M | $282.4M |
股东权益ATECSWIM
| Q1 26 | — | $396.7M | ||
| Q4 25 | $12.4M | $405.9M | ||
| Q3 25 | $11.5M | $408.4M | ||
| Q2 25 | $23.8M | $398.4M | ||
| Q1 25 | $-85.9M | $381.1M | ||
| Q4 24 | $-14.2M | $387.2M | ||
| Q3 24 | $-1.4M | $416.6M | ||
| Q2 24 | $17.1M | $408.1M |
总资产ATECSWIM
| Q1 26 | — | $856.4M | ||
| Q4 25 | $791.2M | $823.2M | ||
| Q3 25 | $787.2M | $844.4M | ||
| Q2 25 | $790.3M | $822.1M | ||
| Q1 25 | $785.5M | $824.6M | ||
| Q4 24 | $775.7M | $794.2M | ||
| Q3 24 | $745.9M | $853.4M | ||
| Q2 24 | $768.6M | $830.0M |
负债/权益比ATECSWIM
| Q1 26 | — | 0.01× | ||
| Q4 25 | 45.54× | 0.69× | ||
| Q3 25 | 48.64× | 0.69× | ||
| Q2 25 | 23.30× | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | 30.34× | 0.69× |
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 | $-47.7M |
| 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 | — | — |
| 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ATECSWIM
| Q1 26 | — | $-47.7M | ||
| Q4 25 | $20.7M | $23.3M | ||
| Q3 25 | $14.0M | $51.0M | ||
| Q2 25 | $15.5M | $36.0M | ||
| Q1 25 | $-5.0M | $-46.9M | ||
| Q4 24 | $10.5M | $6.2M | ||
| Q3 24 | $-5.3M | $37.2M | ||
| Q2 24 | $-11.4M | $52.4M |
自由现金流ATECSWIM
| Q1 26 | — | — | ||
| Q4 25 | $7.7M | $14.1M | ||
| Q3 25 | $4.8M | $45.2M | ||
| Q2 25 | $5.2M | $29.1M | ||
| Q1 25 | $-15.0M | $-50.3M | ||
| Q4 24 | $8.5M | $-98.0K | ||
| Q3 24 | $-21.2M | $33.2M | ||
| Q2 24 | $-45.5M | $47.9M |
自由现金流率ATECSWIM
| Q1 26 | — | — | ||
| Q4 25 | 3.6% | 14.1% | ||
| Q3 25 | 2.4% | 27.9% | ||
| Q2 25 | 2.8% | 16.8% | ||
| Q1 25 | -8.9% | -45.2% | ||
| Q4 24 | 4.8% | -0.1% | ||
| Q3 24 | -14.1% | 22.1% | ||
| Q2 24 | -31.3% | 29.9% |
资本支出强度ATECSWIM
| Q1 26 | — | — | ||
| Q4 25 | 6.1% | 9.2% | ||
| Q3 25 | 4.7% | 3.6% | ||
| Q2 25 | 5.6% | 4.0% | ||
| Q1 25 | 5.9% | 3.1% | ||
| Q4 24 | 1.1% | 7.2% | ||
| Q3 24 | 10.5% | 2.7% | ||
| Q2 24 | 23.4% | 2.8% |
现金转化率ATECSWIM
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
