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Alphatec Holdings, Inc.（ATEC）与Walker & Dunlop, Inc.（WD）财务数据对比。点击上方公司名可切换其他公司
Walker & Dunlop, Inc.的季度营收约是Alphatec Holdings, Inc.的1.6倍（$340.0M vs $212.9M），Alphatec Holdings, Inc.净利率更高（-10.2% vs -12.9%，领先2.7%），Alphatec Holdings, Inc.同比增速更快（20.4% vs -0.4%），Alphatec Holdings, Inc.自由现金流更多（$7.7M vs $-680.1M），过去两年Alphatec Holdings, Inc.的营收复合增速更高（24.0% vs 22.1%）
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。
Walker & Dunlop, Inc.是美国乃至全球规模领先的商业地产金融与咨询服务机构，为客户提供覆盖商业地产领域的多元金融解决方案及专业咨询服务，业务辐射全球多个市场，在行业内拥有深厚的资源积累与广泛的市场认可度。
ATEC vs WD — 直观对比
营收规模更大
WD
是对方的1.6倍
$212.9M
营收增速更快
ATEC
高出20.9%
-0.4%
净利率更高
ATEC
高出2.7%
-12.9%
自由现金流更多
ATEC
多$687.8M
$-680.1M
两年增速更快
ATEC
近两年复合增速
22.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $340.0M |
| 净利润 | $-21.7M | $-13.9M |
| 毛利率 | 70.2% | — |
| 营业利润率 | -4.1% | -17.2% |
| 净利率 | -10.2% | -12.9% |
| 营收同比 | 20.4% | -0.4% |
| 净利润同比 | 34.8% | -131.0% |
| 每股收益（稀释后） | $-0.15 | $-0.41 |
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ATECWD
| Q4 25 | $212.9M | $340.0M | ||
| Q3 25 | $196.5M | $337.7M | ||
| Q2 25 | $185.5M | $319.2M | ||
| Q1 25 | $169.2M | $237.4M | ||
| Q4 24 | $176.8M | $341.5M | ||
| Q3 24 | $150.7M | $292.3M | ||
| Q2 24 | $145.6M | $270.7M | ||
| Q1 24 | $138.5M | $228.1M |
净利润ATECWD
| Q4 25 | $-21.7M | $-13.9M | ||
| Q3 25 | $-28.6M | $33.5M | ||
| Q2 25 | $-41.1M | $34.0M | ||
| Q1 25 | $-51.9M | $2.8M | ||
| Q4 24 | $-33.3M | $44.8M | ||
| Q3 24 | $-39.6M | $28.8M | ||
| Q2 24 | $-40.7M | $22.7M | ||
| Q1 24 | $-48.5M | $11.9M |
毛利率ATECWD
| 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ATECWD
| Q4 25 | -4.1% | -17.2% | ||
| Q3 25 | -8.1% | 13.6% | ||
| Q2 25 | -7.1% | 14.5% | ||
| Q1 25 | -26.2% | 2.2% | ||
| Q4 24 | -13.5% | 15.3% | ||
| Q3 24 | -22.4% | 12.8% | ||
| Q2 24 | -24.3% | 10.4% | ||
| Q1 24 | -31.3% | 6.0% |
净利率ATECWD
| Q4 25 | -10.2% | -12.9% | ||
| Q3 25 | -14.5% | 9.9% | ||
| Q2 25 | -22.2% | 10.6% | ||
| Q1 25 | -30.7% | 1.2% | ||
| Q4 24 | -18.9% | 13.1% | ||
| Q3 24 | -26.3% | 9.9% | ||
| Q2 24 | -27.9% | 8.4% | ||
| Q1 24 | -35.0% | 5.2% |
每股收益（稀释后）ATECWD
| Q4 25 | $-0.15 | $-0.41 | ||
| Q3 25 | $-0.19 | $0.98 | ||
| Q2 25 | $-0.27 | $0.99 | ||
| Q1 25 | $-0.35 | $0.08 | ||
| Q4 24 | $-0.22 | $1.32 | ||
| Q3 24 | $-0.28 | $0.85 | ||
| Q2 24 | $-0.29 | $0.67 | ||
| Q1 24 | $-0.34 | $0.35 |
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 | $299.3M |
| 总债务越低越好 | $565.9M | — |
| 股东权益账面价值 | $12.4M | $1.7B |
| 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ATECWD
| Q4 25 | $160.8M | $299.3M | ||
| Q3 25 | $155.7M | $274.8M | ||
| Q2 25 | $157.1M | $233.7M | ||
| Q1 25 | $153.2M | $181.0M | ||
| Q4 24 | $138.8M | $279.3M | ||
| Q3 24 | $81.0M | $179.8M | ||
| Q2 24 | $99.8M | $208.1M | ||
| Q1 24 | $144.1M | $216.5M |
总债务ATECWD
| 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ATECWD
| Q4 25 | $12.4M | $1.7B | ||
| Q3 25 | $11.5M | $1.8B | ||
| Q2 25 | $23.8M | $1.8B | ||
| Q1 25 | $-85.9M | $1.7B | ||
| Q4 24 | $-14.2M | $1.7B | ||
| Q3 24 | $-1.4M | $1.7B | ||
| Q2 24 | $17.1M | $1.7B | ||
| Q1 24 | $37.6M | $1.7B |
总资产ATECWD
| Q4 25 | $791.2M | $5.1B | ||
| Q3 25 | $787.2M | $5.8B | ||
| Q2 25 | $790.3M | $4.7B | ||
| Q1 25 | $785.5M | $4.5B | ||
| Q4 24 | $775.7M | $4.4B | ||
| Q3 24 | $745.9M | $4.6B | ||
| Q2 24 | $768.6M | $4.2B | ||
| Q1 24 | $774.6M | $3.8B |
负债/权益比ATECWD
| 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 | $-664.3M |
| 自由现金流经营现金流 - 资本支出 | $7.7M | $-680.1M |
| 自由现金流率自由现金流/营收 | 3.6% | -200.0% |
| 资本支出强度资本支出/营收 | 6.1% | 4.6% |
| 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 | $-2.2B |
8季度趋势，按日历期对齐
经营现金流ATECWD
| Q4 25 | $20.7M | $-664.3M | ||
| Q3 25 | $14.0M | $-948.1M | ||
| Q2 25 | $15.5M | $-238.5M | ||
| Q1 25 | $-5.0M | $-281.1M | ||
| Q4 24 | $10.5M | $129.4M | ||
| Q3 24 | $-5.3M | $-202.0M | ||
| Q2 24 | $-11.4M | $-237.8M | ||
| Q1 24 | $-38.4M | $38.4M |
自由现金流ATECWD
| Q4 25 | $7.7M | $-680.1M | ||
| Q3 25 | $4.8M | $-950.4M | ||
| Q2 25 | $5.2M | $-241.0M | ||
| Q1 25 | $-15.0M | $-284.7M | ||
| Q4 24 | $8.5M | $116.4M | ||
| Q3 24 | $-21.2M | $-204.0M | ||
| Q2 24 | $-45.5M | $-241.7M | ||
| Q1 24 | $-69.8M | $35.2M |
自由现金流率ATECWD
| Q4 25 | 3.6% | -200.0% | ||
| Q3 25 | 2.4% | -281.5% | ||
| Q2 25 | 2.8% | -75.5% | ||
| Q1 25 | -8.9% | -120.0% | ||
| Q4 24 | 4.8% | 34.1% | ||
| Q3 24 | -14.1% | -69.8% | ||
| Q2 24 | -31.3% | -89.3% | ||
| Q1 24 | -50.4% | 15.4% |
资本支出强度ATECWD
| Q4 25 | 6.1% | 4.6% | ||
| Q3 25 | 4.7% | 0.7% | ||
| Q2 25 | 5.6% | 0.8% | ||
| Q1 25 | 5.9% | 1.5% | ||
| Q4 24 | 1.1% | 3.8% | ||
| Q3 24 | 10.5% | 0.7% | ||
| Q2 24 | 23.4% | 1.4% | ||
| Q1 24 | 22.6% | 1.4% |
现金转化率ATECWD
| Q4 25 | — | — | ||
| Q3 25 | — | -28.34× | ||
| Q2 25 | — | -7.02× | ||
| Q1 25 | — | -102.07× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | — | -7.01× | ||
| Q2 24 | — | -10.49× | ||
| Q1 24 | — | 3.24× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
