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艾仕得（AXTA）与TENET HEALTHCARE CORP（THC）财务数据对比。点击上方公司名可切换其他公司
TENET HEALTHCARE CORP的季度营收约是艾仕得的4.4倍（$5.5B vs $1.3B），TENET HEALTHCARE CORP净利率更高（11.7% vs 4.8%，领先6.9%），TENET HEALTHCARE CORP同比增速更快（9.0% vs -3.7%），TENET HEALTHCARE CORP自由现金流更多（$367.0M vs $286.0M），过去两年TENET HEALTHCARE CORP的营收复合增速更高（1.5% vs -1.2%）
艾仕得是源自美国的专业涂料供应商，总部位于宾夕法尼亚州费城，注册地为百慕大。公司主营乘用车、商用车、工业场景及修补用途涂料的研发与生产，业务覆盖全球130个国家，拥有近1.3万名员工，服务超10万家客户。
Tenet Healthcare Corporation是总部位于美国达拉斯的营利性跨国医疗服务企业，旗下拥有USPI等多个品牌、子公司、合资企业及合作主体，运营65家医院及超过450个医疗设施，还通过旗下Conifer Health Solutions为各类医疗系统及其他客户提供专业医疗支持服务
AXTA vs THC — 直观对比
营收规模更大
THC
是对方的4.4倍
$1.3B
营收增速更快
THC
高出12.7%
-3.7%
净利率更高
THC
高出6.9%
4.8%
自由现金流更多
THC
多$81.0M
$286.0M
两年增速更快
THC
近两年复合增速
-1.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $5.5B |
| 净利润 | $60.0M | $644.0M |
| 毛利率 | 33.4% | — |
| 营业利润率 | 12.8% | 15.4% |
| 净利率 | 4.8% | 11.7% |
| 营收同比 | -3.7% | 9.0% |
| 净利润同比 | -56.2% | 12.6% |
| 每股收益（稀释后） | $0.28 | $4.22 |
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AXTATHC
| Q4 25 | $1.3B | $5.5B | ||
| Q3 25 | $1.3B | $5.3B | ||
| Q2 25 | $1.3B | $5.3B | ||
| Q1 25 | $1.3B | $5.2B | ||
| Q4 24 | $1.3B | $5.1B | ||
| Q3 24 | $1.3B | $5.1B | ||
| Q2 24 | $1.4B | $5.1B | ||
| Q1 24 | $1.3B | $5.4B |
净利润AXTATHC
| Q4 25 | $60.0M | $644.0M | ||
| Q3 25 | $110.0M | $579.0M | ||
| Q2 25 | $109.0M | $522.0M | ||
| Q1 25 | $99.0M | $622.0M | ||
| Q4 24 | $137.0M | $572.0M | ||
| Q3 24 | $101.0M | $681.0M | ||
| Q2 24 | $112.0M | $477.0M | ||
| Q1 24 | $41.0M | $2.3B |
毛利率AXTATHC
| Q4 25 | 33.4% | — | ||
| Q3 25 | 34.9% | — | ||
| Q2 25 | 35.0% | — | ||
| Q1 25 | 34.3% | — | ||
| Q4 24 | 34.1% | — | ||
| Q3 24 | 35.0% | — | ||
| Q2 24 | 34.0% | — | ||
| Q1 24 | 33.2% | — |
营业利润率AXTATHC
| Q4 25 | 12.8% | 15.4% | ||
| Q3 25 | 15.8% | 16.8% | ||
| Q2 25 | 14.8% | 15.6% | ||
| Q1 25 | 13.9% | 18.1% | ||
| Q4 24 | 14.3% | 16.2% | ||
| Q3 24 | 14.6% | 21.3% | ||
| Q2 24 | 15.2% | 14.9% | ||
| Q1 24 | 9.4% | 61.2% |
净利率AXTATHC
| Q4 25 | 4.8% | 11.7% | ||
| Q3 25 | 8.5% | 10.9% | ||
| Q2 25 | 8.4% | 9.9% | ||
| Q1 25 | 7.8% | 11.9% | ||
| Q4 24 | 10.5% | 11.3% | ||
| Q3 24 | 7.7% | 13.3% | ||
| Q2 24 | 8.3% | 9.3% | ||
| Q1 24 | 3.2% | 43.5% |
每股收益（稀释后）AXTATHC
| Q4 25 | $0.28 | $4.22 | ||
| Q3 25 | $0.51 | $3.86 | ||
| Q2 25 | $0.50 | $3.14 | ||
| Q1 25 | $0.45 | $4.27 | ||
| Q4 24 | $0.63 | $3.79 | ||
| Q3 24 | $0.46 | $4.89 | ||
| Q2 24 | $0.51 | $2.64 | ||
| Q1 24 | $0.18 | $21.38 |
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 | $657.0M | $2.9B |
| 总债务越低越好 | $3.2B | $13.1B |
| 股东权益账面价值 | $2.3B | $4.2B |
| 总资产 | $7.6B | $29.7B |
| 负债/权益比越低杠杆越低 | 1.36× | 3.10× |
8季度趋势，按日历期对齐
现金及短期投资AXTATHC
| Q4 25 | $657.0M | $2.9B | ||
| Q3 25 | $606.0M | $3.0B | ||
| Q2 25 | $625.0M | $2.6B | ||
| Q1 25 | $575.0M | $3.0B | ||
| Q4 24 | $593.0M | $3.0B | ||
| Q3 24 | $567.0M | $4.1B | ||
| Q2 24 | $840.0M | $2.9B | ||
| Q1 24 | $624.0M | $2.5B |
总债务AXTATHC
| Q4 25 | $3.2B | $13.1B | ||
| Q3 25 | $3.4B | $13.1B | ||
| Q2 25 | $3.4B | $13.1B | ||
| Q1 25 | $3.4B | $13.1B | ||
| Q4 24 | $3.4B | $13.1B | ||
| Q3 24 | $3.5B | $12.8B | ||
| Q2 24 | $3.6B | $12.8B | ||
| Q1 24 | $3.4B | $12.8B |
股东权益AXTATHC
| Q4 25 | $2.3B | $4.2B | ||
| Q3 25 | $2.3B | $4.0B | ||
| Q2 25 | $2.3B | $3.7B | ||
| Q1 25 | $2.1B | $4.2B | ||
| Q4 24 | $1.9B | $4.2B | ||
| Q3 24 | $1.9B | $3.8B | ||
| Q2 24 | $1.8B | $3.5B | ||
| Q1 24 | $1.7B | $3.5B |
总资产AXTATHC
| Q4 25 | $7.6B | $29.7B | ||
| Q3 25 | $7.8B | $29.4B | ||
| Q2 25 | $7.8B | $28.7B | ||
| Q1 25 | $7.4B | $29.2B | ||
| Q4 24 | $7.2B | $28.9B | ||
| Q3 24 | $7.5B | $29.4B | ||
| Q2 24 | $7.3B | $29.3B | ||
| Q1 24 | $7.1B | $28.9B |
负债/权益比AXTATHC
| Q4 25 | 1.36× | 3.10× | ||
| Q3 25 | 1.48× | 3.26× | ||
| Q2 25 | 1.50× | 3.49× | ||
| Q1 25 | 1.64× | 3.13× | ||
| Q4 24 | 1.78× | 3.14× | ||
| Q3 24 | 1.84× | 3.33× | ||
| Q2 24 | 2.02× | 3.67× | ||
| Q1 24 | 1.97× | 3.70× |
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 | $344.0M | $731.0M |
| 自由现金流经营现金流 - 资本支出 | $286.0M | $367.0M |
| 自由现金流率自由现金流/营收 | 22.7% | 6.6% |
| 资本支出强度资本支出/营收 | 4.6% | 6.6% |
| 现金转化率经营现金流/净利润 | 5.73× | 1.14× |
| 过去12个月自由现金流最近4个季度 | $453.0M | $2.5B |
8季度趋势，按日历期对齐
经营现金流AXTATHC
| Q4 25 | $344.0M | $731.0M | ||
| Q3 25 | $137.0M | $1.1B | ||
| Q2 25 | $142.0M | $936.0M | ||
| Q1 25 | $26.0M | $815.0M | ||
| Q4 24 | $234.0M | $-331.0M | ||
| Q3 24 | $194.0M | $1.0B | ||
| Q2 24 | $114.0M | $747.0M | ||
| Q1 24 | $34.0M | $586.0M |
自由现金流AXTATHC
| Q4 25 | $286.0M | $367.0M | ||
| Q3 25 | $87.0M | $778.0M | ||
| Q2 25 | $97.0M | $743.0M | ||
| Q1 25 | $-17.0M | $642.0M | ||
| Q4 24 | $172.0M | $-661.0M | ||
| Q3 24 | $161.0M | $829.0M | ||
| Q2 24 | $91.0M | $602.0M | ||
| Q1 24 | $12.0M | $346.0M |
自由现金流率AXTATHC
| Q4 25 | 22.7% | 6.6% | ||
| Q3 25 | 6.8% | 14.7% | ||
| Q2 25 | 7.4% | 14.1% | ||
| Q1 25 | -1.3% | 12.3% | ||
| Q4 24 | 13.1% | -13.0% | ||
| Q3 24 | 12.2% | 16.2% | ||
| Q2 24 | 6.7% | 11.8% | ||
| Q1 24 | 0.9% | 6.4% |
资本支出强度AXTATHC
| Q4 25 | 4.6% | 6.6% | ||
| Q3 25 | 3.9% | 5.3% | ||
| Q2 25 | 3.4% | 3.7% | ||
| Q1 25 | 3.4% | 3.3% | ||
| Q4 24 | 4.7% | 6.5% | ||
| Q3 24 | 2.5% | 4.2% | ||
| Q2 24 | 1.7% | 2.8% | ||
| Q1 24 | 1.7% | 4.5% |
现金转化率AXTATHC
| Q4 25 | 5.73× | 1.14× | ||
| Q3 25 | 1.25× | 1.83× | ||
| Q2 25 | 1.30× | 1.79× | ||
| Q1 25 | 0.26× | 1.31× | ||
| Q4 24 | 1.71× | -0.58× | ||
| Q3 24 | 1.92× | 1.53× | ||
| Q2 24 | 1.02× | 1.57× | ||
| Q1 24 | 0.83× | 0.25× |
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
AXTA
| Refinish | $509.0M | 40% |
| Light Vehicle | $372.0M | 29% |
| Industrial | $282.0M | 22% |
| Commercial Vehicle | $99.0M | 8% |
THC
| Other | $2.9B | 52% |
| Health Care Patient Service | $1.4B | 25% |
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.2B | 22% |
| Health Care Other Sources | $56.0M | 1% |
