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BRUNSWICK CORP（BC）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
瑞思迈的季度营收约是BRUNSWICK CORP的1.1倍（$1.4B vs $1.3B），瑞思迈净利率更高（27.6% vs 1.4%，领先26.2%），BRUNSWICK CORP同比增速更快（15.5% vs 11.0%），瑞思迈自由现金流更多（$311.2M vs $83.6M），过去两年瑞思迈的营收复合增速更高（9.0% vs -1.1%）
美国Brunswick公司创立于1845年，专注于多品类产品的研发、生产与营销，旗下拥有知名海事品牌水星海事（Mercury Marine）等多个品牌。目前集团在24个国家拥有超1.3万名员工，2024年销售额达52亿美元，全球总部位于伊利诺伊州芝加哥北郊的梅塔瓦。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
BC vs RMD — 直观对比
营收规模更大
RMD
是对方的1.1倍
$1.3B
营收增速更快
BC
高出4.5%
11.0%
净利率更高
RMD
高出26.2%
1.4%
自由现金流更多
RMD
多$227.6M
$83.6M
两年增速更快
RMD
近两年复合增速
-1.1%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.4B |
| 净利润 | $18.7M | $392.6M |
| 毛利率 | 23.1% | 61.8% |
| 营业利润率 | 3.1% | 34.6% |
| 净利率 | 1.4% | 27.6% |
| 营收同比 | 15.5% | 11.0% |
| 净利润同比 | 122.7% | 13.9% |
| 每股收益（稀释后） | $0.32 | $2.68 |
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BCRMD
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.4B | $1.3B | ||
| Q2 25 | $1.4B | $1.3B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.4B | $1.2B |
净利润BCRMD
| Q4 25 | $18.7M | $392.6M | ||
| Q3 25 | $-235.5M | $348.5M | ||
| Q2 25 | $59.3M | $379.7M | ||
| Q1 25 | $20.2M | $365.0M | ||
| Q4 24 | $-82.5M | $344.6M | ||
| Q3 24 | $44.6M | $311.4M | ||
| Q2 24 | $100.0M | $292.2M | ||
| Q1 24 | $68.0M | $300.5M |
毛利率BCRMD
| Q4 25 | 23.1% | 61.8% | ||
| Q3 25 | 25.8% | 61.5% | ||
| Q2 25 | 25.5% | 60.8% | ||
| Q1 25 | 24.9% | 59.3% | ||
| Q4 24 | 21.9% | 58.6% | ||
| Q3 24 | 26.2% | 58.6% | ||
| Q2 24 | 27.1% | 58.5% | ||
| Q1 24 | 27.4% | 57.9% |
营业利润率BCRMD
| Q4 25 | 3.1% | 34.6% | ||
| Q3 25 | -17.8% | 33.4% | ||
| Q2 25 | 7.1% | 33.7% | ||
| Q1 25 | 4.6% | 33.0% | ||
| Q4 24 | -4.8% | 32.5% | ||
| Q3 24 | 7.7% | 31.6% | ||
| Q2 24 | 11.0% | 31.2% | ||
| Q1 24 | 8.1% | 31.3% |
净利率BCRMD
| Q4 25 | 1.4% | 27.6% | ||
| Q3 25 | -17.3% | 26.1% | ||
| Q2 25 | 4.1% | 28.2% | ||
| Q1 25 | 1.7% | 28.3% | ||
| Q4 24 | -7.1% | 26.9% | ||
| Q3 24 | 3.5% | 25.4% | ||
| Q2 24 | 6.9% | 23.9% | ||
| Q1 24 | 5.0% | 25.1% |
每股收益（稀释后）BCRMD
| Q4 25 | $0.32 | $2.68 | ||
| Q3 25 | $-3.59 | $2.37 | ||
| Q2 25 | $0.89 | $2.58 | ||
| Q1 25 | $0.30 | $2.48 | ||
| Q4 24 | $-1.21 | $2.34 | ||
| Q3 24 | $0.67 | $2.11 | ||
| Q2 24 | $1.48 | $1.97 | ||
| Q1 24 | $0.99 | $2.04 |
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 | $256.8M | $1.4B |
| 总债务越低越好 | $2.1B | $403.9M |
| 股东权益账面价值 | $1.6B | $6.3B |
| 总资产 | $5.3B | $8.5B |
| 负债/权益比越低杠杆越低 | 1.30× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资BCRMD
| Q4 25 | $256.8M | $1.4B | ||
| Q3 25 | $297.7M | $1.4B | ||
| Q2 25 | $315.7M | $1.2B | ||
| Q1 25 | $286.7M | $932.7M | ||
| Q4 24 | $269.0M | $521.9M | ||
| Q3 24 | $284.1M | $426.4M | ||
| Q2 24 | $494.5M | $238.4M | ||
| Q1 24 | $548.4M | $237.9M |
总债务BCRMD
| Q4 25 | $2.1B | $403.9M | ||
| Q3 25 | — | $408.7M | ||
| Q2 25 | — | $658.4M | ||
| Q1 25 | — | $663.1M | ||
| Q4 24 | $2.4B | $662.9M | ||
| Q3 24 | — | $667.6M | ||
| Q2 24 | — | $697.3M | ||
| Q1 24 | — | $997.0M |
股东权益BCRMD
| Q4 25 | $1.6B | $6.3B | ||
| Q3 25 | $1.6B | $6.1B | ||
| Q2 25 | $1.9B | $6.0B | ||
| Q1 25 | $1.9B | $5.5B | ||
| Q4 24 | $1.9B | $5.3B | ||
| Q3 24 | $2.0B | $5.2B | ||
| Q2 24 | $2.0B | $4.9B | ||
| Q1 24 | $2.0B | $4.6B |
总资产BCRMD
| Q4 25 | $5.3B | $8.5B | ||
| Q3 25 | $5.4B | $8.3B | ||
| Q2 25 | $5.8B | $8.2B | ||
| Q1 25 | $5.9B | $7.6B | ||
| Q4 24 | $5.7B | $7.1B | ||
| Q3 24 | $6.0B | $7.2B | ||
| Q2 24 | $6.4B | $6.9B | ||
| Q1 24 | $6.5B | $6.8B |
负债/权益比BCRMD
| Q4 25 | 1.30× | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | 1.25× | 0.13× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.22× |
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 | $132.9M | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $83.6M | $311.2M |
| 自由现金流率自由现金流/营收 | 6.3% | 21.9% |
| 资本支出强度资本支出/营收 | 3.7% | 2.0% |
| 现金转化率经营现金流/净利润 | 7.11× | 0.87× |
| 过去12个月自由现金流最近4个季度 | $396.3M | $1.8B |
8季度趋势，按日历期对齐
经营现金流BCRMD
| Q4 25 | $132.9M | $339.7M | ||
| Q3 25 | $140.4M | $457.3M | ||
| Q2 25 | $316.2M | $538.8M | ||
| Q1 25 | $-27.4M | $578.7M | ||
| Q4 24 | $306.4M | $308.6M | ||
| Q3 24 | $67.4M | $325.5M | ||
| Q2 24 | $211.0M | $440.1M | ||
| Q1 24 | $-153.4M | $402.0M |
自由现金流BCRMD
| Q4 25 | $83.6M | $311.2M | ||
| Q3 25 | $106.5M | $414.4M | ||
| Q2 25 | $271.3M | $508.2M | ||
| Q1 25 | $-65.1M | $557.9M | ||
| Q4 24 | $276.1M | $288.0M | ||
| Q3 24 | $31.4M | $307.7M | ||
| Q2 24 | $163.9M | $415.2M | ||
| Q1 24 | $-207.4M | $380.8M |
自由现金流率BCRMD
| Q4 25 | 6.3% | 21.9% | ||
| Q3 25 | 7.8% | 31.0% | ||
| Q2 25 | 18.7% | 37.7% | ||
| Q1 25 | -5.3% | 43.2% | ||
| Q4 24 | 23.9% | 22.5% | ||
| Q3 24 | 2.5% | 25.1% | ||
| Q2 24 | 11.4% | 33.9% | ||
| Q1 24 | -15.2% | 31.8% |
资本支出强度BCRMD
| Q4 25 | 3.7% | 2.0% | ||
| Q3 25 | 2.5% | 3.2% | ||
| Q2 25 | 3.1% | 2.3% | ||
| Q1 25 | 3.1% | 1.6% | ||
| Q4 24 | 2.6% | 1.6% | ||
| Q3 24 | 2.8% | 1.5% | ||
| Q2 24 | 3.3% | 2.0% | ||
| Q1 24 | 4.0% | 1.8% |
现金转化率BCRMD
| Q4 25 | 7.11× | 0.87× | ||
| Q3 25 | — | 1.31× | ||
| Q2 25 | 5.33× | 1.42× | ||
| Q1 25 | -1.36× | 1.59× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | 1.51× | 1.05× | ||
| Q2 24 | 2.11× | 1.51× | ||
| Q1 24 | -2.26× | 1.34× |
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
BC
| Engine Partsand Accessories | $532.4M | 40% |
| Navico Group | $452.9M | 34% |
| Recreational Fiberglass Boats | $111.6M | 8% |
| Saltwater Fishing Boats | $85.7M | 6% |
| Controls Riggingand Propellers | $78.3M | 6% |
| Business Acceleration | $48.1M | 4% |
| Sterndrive Engine | $32.6M | 2% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
