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博思艾伦汉密尔顿（BAH）与Encompass Health Corp（EHC）财务数据对比。点击上方公司名可切换其他公司
博思艾伦汉密尔顿的季度营收约是Encompass Health Corp的1.7倍（$2.6B vs $1.5B），Encompass Health Corp净利率更高（9.5% vs 7.6%，领先1.8%），Encompass Health Corp同比增速更快（9.9% vs -10.2%），博思艾伦汉密尔顿自由现金流更多（$248.0M vs $116.7M），过去两年Encompass Health Corp的营收复合增速更高（8.3% vs -2.8%）
博思艾伦汉密尔顿控股集团是美国知名专业服务企业，深耕数字化转型与人工智能领域，为公共部门、私营机构及非营利组织提供咨询、分析与工程服务，总部位于弗吉尼亚州麦克莱恩，属华盛顿大都会区，在全球另设有80个办事处。
Encompass Health Corp前身为Amcare及HealthSouth，总部位于美国阿拉巴马州伯明翰，是美国规模最大的住院康复服务提供商，在39个州及波多黎各拥有173家住院康复医院，为中风、神经系统疾病、心肺病症、脑损伤等患者提供专业康复诊疗服务。
BAH vs EHC — 直观对比
营收规模更大
BAH
是对方的1.7倍
$1.5B
营收增速更快
EHC
高出20.1%
-10.2%
净利率更高
EHC
高出1.8%
7.6%
自由现金流更多
BAH
多$131.3M
$116.7M
两年增速更快
EHC
近两年复合增速
-2.8%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.6B | $1.5B |
| 净利润 | $200.0M | $146.1M |
| 毛利率 | 51.9% | — |
| 营业利润率 | 8.8% | 16.7% |
| 净利率 | 7.6% | 9.5% |
| 营收同比 | -10.2% | 9.9% |
| 净利润同比 | 7.0% | 20.8% |
| 每股收益（稀释后） | $1.63 | $1.43 |
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BAHEHC
| Q4 25 | $2.6B | $1.5B | ||
| Q3 25 | $2.9B | $1.5B | ||
| Q2 25 | $2.9B | $1.5B | ||
| Q1 25 | $3.0B | $1.5B | ||
| Q4 24 | $2.9B | $1.4B | ||
| Q3 24 | $3.1B | $1.4B | ||
| Q2 24 | $2.9B | $1.3B | ||
| Q1 24 | $2.8B | $1.3B |
净利润BAHEHC
| Q4 25 | $200.0M | $146.1M | ||
| Q3 25 | $175.0M | $126.5M | ||
| Q2 25 | $271.0M | $142.1M | ||
| Q1 25 | $192.7M | $151.5M | ||
| Q4 24 | $186.9M | $120.9M | ||
| Q3 24 | $390.1M | $108.2M | ||
| Q2 24 | $165.2M | $114.1M | ||
| Q1 24 | $128.0M | $112.5M |
毛利率BAHEHC
| Q4 25 | 51.9% | — | ||
| Q3 25 | 53.6% | — | ||
| Q2 25 | 51.3% | — | ||
| Q1 25 | 53.6% | — | ||
| Q4 24 | 55.2% | — | ||
| Q3 24 | 56.7% | — | ||
| Q2 24 | 53.4% | — | ||
| Q1 24 | 54.7% | — |
营业利润率BAHEHC
| Q4 25 | 8.8% | 16.7% | ||
| Q3 25 | 9.8% | 14.9% | ||
| Q2 25 | 8.8% | 16.2% | ||
| Q1 25 | 9.2% | 16.4% | ||
| Q4 24 | 10.0% | 14.3% | ||
| Q3 24 | 17.4% | 13.6% | ||
| Q2 24 | 8.7% | 14.3% | ||
| Q1 24 | 9.5% | 13.6% |
净利率BAHEHC
| Q4 25 | 7.6% | 9.5% | ||
| Q3 25 | 6.1% | 8.6% | ||
| Q2 25 | 9.3% | 9.7% | ||
| Q1 25 | 6.5% | 10.4% | ||
| Q4 24 | 6.4% | 8.6% | ||
| Q3 24 | 12.4% | 8.0% | ||
| Q2 24 | 5.6% | 8.8% | ||
| Q1 24 | 4.6% | 8.5% |
每股收益（稀释后）BAHEHC
| Q4 25 | $1.63 | $1.43 | ||
| Q3 25 | $1.42 | $1.24 | ||
| Q2 25 | $2.16 | $1.39 | ||
| Q1 25 | $1.52 | $1.48 | ||
| Q4 24 | $1.45 | $1.18 | ||
| Q3 24 | $3.01 | $1.06 | ||
| Q2 24 | $1.27 | $1.12 | ||
| Q1 24 | $0.97 | $1.10 |
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 | $882.0M | $72.2M |
| 总债务越低越好 | $3.9B | $2.4B |
| 股东权益账面价值 | $1.0B | $2.4B |
| 总资产 | $7.1B | $7.1B |
| 负债/权益比越低杠杆越低 | 3.84× | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资BAHEHC
| Q4 25 | $882.0M | $72.2M | ||
| Q3 25 | $816.0M | $48.7M | ||
| Q2 25 | $711.0M | $99.1M | ||
| Q1 25 | $885.0M | $95.8M | ||
| Q4 24 | $453.5M | $85.4M | ||
| Q3 24 | $558.7M | $147.8M | ||
| Q2 24 | $297.7M | $154.4M | ||
| Q1 24 | $554.3M | $134.4M |
总债务BAHEHC
| Q4 25 | $3.9B | $2.4B | ||
| Q3 25 | $4.0B | $2.4B | ||
| Q2 25 | $4.0B | $2.3B | ||
| Q1 25 | $4.0B | $2.3B | ||
| Q4 24 | $3.4B | $2.4B | ||
| Q3 24 | $3.4B | $2.3B | ||
| Q2 24 | $3.4B | $2.7B | ||
| Q1 24 | $3.4B | $2.7B |
股东权益BAHEHC
| Q4 25 | $1.0B | $2.4B | ||
| Q3 25 | $996.0M | $2.4B | ||
| Q2 25 | $1.1B | $2.3B | ||
| Q1 25 | $1.0B | $2.2B | ||
| Q4 24 | $1.2B | $2.1B | ||
| Q3 24 | $1.2B | $2.0B | ||
| Q2 24 | $1.1B | $1.8B | ||
| Q1 24 | $1.0B | $1.7B |
总资产BAHEHC
| Q4 25 | $7.1B | $7.1B | ||
| Q3 25 | $7.2B | $6.9B | ||
| Q2 25 | $7.2B | $6.8B | ||
| Q1 25 | $7.3B | $6.6B | ||
| Q4 24 | $6.8B | $6.5B | ||
| Q3 24 | $6.9B | $6.5B | ||
| Q2 24 | $6.6B | $6.4B | ||
| Q1 24 | $6.6B | $6.2B |
负债/权益比BAHEHC
| Q4 25 | 3.84× | 1.00× | ||
| Q3 25 | 3.98× | 1.01× | ||
| Q2 25 | 3.74× | 1.02× | ||
| Q1 25 | 3.99× | 1.08× | ||
| Q4 24 | 2.79× | 1.14× | ||
| Q3 24 | 2.83× | 1.20× | ||
| Q2 24 | 3.14× | 1.46× | ||
| Q1 24 | 3.26× | 1.54× |
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 | $261.0M | $346.0M |
| 自由现金流经营现金流 - 资本支出 | $248.0M | $116.7M |
| 自由现金流率自由现金流/营收 | 9.5% | 7.6% |
| 资本支出强度资本支出/营收 | 0.5% | 14.8% |
| 现金转化率经营现金流/净利润 | 1.30× | 2.37× |
| 过去12个月自由现金流最近4个季度 | $933.4M | $439.2M |
8季度趋势，按日历期对齐
经营现金流BAHEHC
| Q4 25 | $261.0M | $346.0M | ||
| Q3 25 | $421.0M | $270.8M | ||
| Q2 25 | $119.0M | $270.2M | ||
| Q1 25 | $219.0M | $288.6M | ||
| Q4 24 | $150.8M | $278.8M | ||
| Q3 24 | $587.1M | $267.8M | ||
| Q2 24 | $52.1M | $217.4M | ||
| Q1 24 | $143.8M | $238.8M |
自由现金流BAHEHC
| Q4 25 | $248.0M | $116.7M | ||
| Q3 25 | $395.0M | $83.7M | ||
| Q2 25 | $96.0M | $113.3M | ||
| Q1 25 | $194.4M | $125.5M | ||
| Q4 24 | $133.6M | $80.1M | ||
| Q3 24 | $563.3M | $120.3M | ||
| Q2 24 | $19.7M | $60.5M | ||
| Q1 24 | $127.6M | $99.4M |
自由现金流率BAHEHC
| Q4 25 | 9.5% | 7.6% | ||
| Q3 25 | 13.7% | 5.7% | ||
| Q2 25 | 3.3% | 7.8% | ||
| Q1 25 | 6.5% | 8.6% | ||
| Q4 24 | 4.6% | 5.7% | ||
| Q3 24 | 17.9% | 8.9% | ||
| Q2 24 | 0.7% | 4.6% | ||
| Q1 24 | 4.6% | 7.6% |
资本支出强度BAHEHC
| Q4 25 | 0.5% | 14.8% | ||
| Q3 25 | 0.9% | 12.7% | ||
| Q2 25 | 0.8% | 10.8% | ||
| Q1 25 | 0.8% | 11.2% | ||
| Q4 24 | 0.6% | 14.1% | ||
| Q3 24 | 0.8% | 10.9% | ||
| Q2 24 | 1.1% | 12.1% | ||
| Q1 24 | 0.6% | 10.6% |
现金转化率BAHEHC
| Q4 25 | 1.30× | 2.37× | ||
| Q3 25 | 2.41× | 2.14× | ||
| Q2 25 | 0.44× | 1.90× | ||
| Q1 25 | 1.14× | 1.90× | ||
| Q4 24 | 0.81× | 2.31× | ||
| Q3 24 | 1.50× | 2.48× | ||
| Q2 24 | 0.32× | 1.91× | ||
| Q1 24 | 1.12× | 2.12× |
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
BAH
| Defense Clients | $1.5B | 55% |
| Civil Clients | $732.0M | 28% |
| Intelligence Clients | $434.0M | 17% |
EHC
| Medicare | $1.0B | 66% |
| Medicare Advantage | $243.1M | 16% |
| Managed Care | $160.7M | 10% |
| Medicaid | $47.0M | 3% |
| Other Income Source | $44.8M | 3% |
| Other Thirdparty Payors | $11.2M | 1% |
| Workers Compensation | $7.6M | 0% |
| Patients | $4.6M | 0% |
