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嘉德诺（BTSG）与达维塔（DVA）财务数据对比。点击上方公司名可切换其他公司
达维塔的季度营收约是嘉德诺的1.0倍（$3.6B vs $3.6B），达维塔净利率更高（6.5% vs 2.2%，领先4.3%），嘉德诺同比增速更快（16.3% vs 12.3%），过去两年嘉德诺的营收复合增速更高（17.4% vs 6.6%）
嘉德诺是美国跨国医疗服务企业，位列美国企业营收榜第15位，总部位于俄亥俄州都柏林。公司主营药品与医疗产品分销，服务覆盖超10万个网点，同时生产手套、手术服、流体管理产品等医用外科用品，还运营着规模位居前列的放射性药物网络。
达维塔是美国肾脏透析服务提供商，在美国运营2675家门诊中心，服务20.08万名患者；同时在其他11个国家布局367家门诊中心，服务4.94万名患者。公司主要服务终末期肾病患者，这类患者除非接受捐肾移植，否则通常需要终生每周接受三次透析治疗。
BTSG vs DVA — 直观对比
营收规模更大
DVA
是对方的1.0倍
$3.6B
营收增速更快
BTSG
高出4.0%
12.3%
净利率更高
DVA
高出4.3%
2.2%
两年增速更快
BTSG
近两年复合增速
6.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $3.6B |
| 净利润 | $77.1M | $234.2M |
| 毛利率 | 11.6% | — |
| 营业利润率 | 3.0% | 15.5% |
| 净利率 | 2.2% | 6.5% |
| 营收同比 | 16.3% | 12.3% |
| 净利润同比 | 381.8% | 43.8% |
| 每股收益（稀释后） | $0.34 | $3.22 |
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BTSGDVA
| Q1 26 | — | $3.6B | ||
| Q4 25 | $3.6B | $3.6B | ||
| Q3 25 | $3.3B | $3.4B | ||
| Q2 25 | $3.1B | $3.4B | ||
| Q1 25 | $2.9B | $3.2B | ||
| Q4 24 | $3.1B | $3.3B | ||
| Q3 24 | $2.9B | $3.3B | ||
| Q2 24 | $2.7B | $3.2B |
净利润BTSGDVA
| Q1 26 | — | $234.2M | ||
| Q4 25 | $77.1M | $234.2M | ||
| Q3 25 | $55.8M | $150.3M | ||
| Q2 25 | $28.2M | $199.3M | ||
| Q1 25 | $29.5M | $162.9M | ||
| Q4 24 | $16.0M | $259.3M | ||
| Q3 24 | $-8.2M | $214.7M | ||
| Q2 24 | $19.9M | $222.7M |
毛利率BTSGDVA
| Q1 26 | — | — | ||
| Q4 25 | 11.6% | — | ||
| Q3 25 | 11.8% | — | ||
| Q2 25 | 11.9% | — | ||
| Q1 25 | 11.8% | — | ||
| Q4 24 | 13.8% | — | ||
| Q3 24 | 14.0% | — | ||
| Q2 24 | 14.2% | — |
营业利润率BTSGDVA
| Q1 26 | — | 15.5% | ||
| Q4 25 | 3.0% | 15.5% | ||
| Q3 25 | 2.6% | 14.8% | ||
| Q2 25 | 1.5% | 15.9% | ||
| Q1 25 | 1.8% | 13.6% | ||
| Q4 24 | 2.6% | 17.2% | ||
| Q3 24 | 2.0% | 16.4% | ||
| Q2 24 | 2.3% | 15.9% |
净利率BTSGDVA
| Q1 26 | — | 6.5% | ||
| Q4 25 | 2.2% | 6.5% | ||
| Q3 25 | 1.7% | 4.4% | ||
| Q2 25 | 0.9% | 5.9% | ||
| Q1 25 | 1.0% | 5.1% | ||
| Q4 24 | 0.5% | 7.9% | ||
| Q3 24 | -0.3% | 6.6% | ||
| Q2 24 | 0.7% | 7.0% |
每股收益（稀释后）BTSGDVA
| Q1 26 | — | $3.22 | ||
| Q4 25 | $0.34 | $3.22 | ||
| Q3 25 | $0.26 | $2.04 | ||
| Q2 25 | $0.13 | $2.58 | ||
| Q1 25 | $0.14 | $2.00 | ||
| Q4 24 | $0.11 | $3.08 | ||
| Q3 24 | $-0.04 | $2.50 | ||
| Q2 24 | $0.10 | $2.50 |
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 | $88.4M | $700.7M |
| 总债务越低越好 | $2.5B | $10.2B |
| 股东权益账面价值 | $1.9B | $-651.1M |
| 总资产 | $6.4B | $17.5B |
| 负债/权益比越低杠杆越低 | 1.34× | — |
8季度趋势，按日历期对齐
现金及短期投资BTSGDVA
| Q1 26 | — | $700.7M | ||
| Q4 25 | $88.4M | $700.7M | ||
| Q3 25 | $140.3M | $736.5M | ||
| Q2 25 | $70.1M | $739.4M | ||
| Q1 25 | $52.3M | $511.9M | ||
| Q4 24 | $61.3M | $846.0M | ||
| Q3 24 | $36.0M | $1.1B | ||
| Q2 24 | $25.0M | $437.2M |
总债务BTSGDVA
| Q1 26 | — | $10.2B | ||
| Q4 25 | $2.5B | $10.2B | ||
| Q3 25 | $2.5B | $10.2B | ||
| Q2 25 | $2.5B | $10.1B | ||
| Q1 25 | $2.5B | $9.6B | ||
| Q4 24 | $2.6B | $9.2B | ||
| Q3 24 | $2.7B | $9.3B | ||
| Q2 24 | $2.6B | $8.5B |
股东权益BTSGDVA
| Q1 26 | — | $-651.1M | ||
| Q4 25 | $1.9B | $-651.1M | ||
| Q3 25 | $1.8B | $-571.9M | ||
| Q2 25 | $1.7B | $-369.6M | ||
| Q1 25 | $1.7B | $-267.1M | ||
| Q4 24 | $1.6B | $121.1M | ||
| Q3 24 | $1.6B | $386.7M | ||
| Q2 24 | $1.6B | $632.9M |
总资产BTSGDVA
| Q1 26 | — | $17.5B | ||
| Q4 25 | $6.4B | $17.5B | ||
| Q3 25 | $6.0B | $17.6B | ||
| Q2 25 | $5.9B | $17.5B | ||
| Q1 25 | $5.8B | $17.1B | ||
| Q4 24 | $5.9B | $17.3B | ||
| Q3 24 | $5.8B | $17.5B | ||
| Q2 24 | $5.6B | $17.0B |
负债/权益比BTSGDVA
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | — | ||
| Q3 25 | 1.38× | — | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.50× | — | ||
| Q4 24 | 1.58× | 75.76× | ||
| Q3 24 | 1.65× | 23.95× | ||
| Q2 24 | 1.63× | 13.35× |
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 | $231.6M | — |
| 自由现金流经营现金流 - 资本支出 | $193.9M | — |
| 自由现金流率自由现金流/营收 | 5.5% | — |
| 资本支出强度资本支出/营收 | 1.1% | — |
| 现金转化率经营现金流/净利润 | 3.00× | — |
| 过去12个月自由现金流最近4个季度 | $394.7M | — |
8季度趋势，按日历期对齐
经营现金流BTSGDVA
| Q1 26 | — | — | ||
| Q4 25 | $231.6M | $540.7M | ||
| Q3 25 | $107.9M | $841.5M | ||
| Q2 25 | $49.1M | $324.2M | ||
| Q1 25 | $101.6M | $180.0M | ||
| Q4 24 | $90.6M | $547.6M | ||
| Q3 24 | $27.2M | $810.4M | ||
| Q2 24 | $-15.2M | $798.8M |
自由现金流BTSGDVA
| Q1 26 | — | — | ||
| Q4 25 | $193.9M | $395.3M | ||
| Q3 25 | $92.2M | $675.4M | ||
| Q2 25 | $24.7M | $203.1M | ||
| Q1 25 | $84.0M | $36.8M | ||
| Q4 24 | $75.3M | $377.0M | ||
| Q3 24 | $7.2M | $671.4M | ||
| Q2 24 | $-39.0M | $674.1M |
自由现金流率BTSGDVA
| Q1 26 | — | — | ||
| Q4 25 | 5.5% | 10.9% | ||
| Q3 25 | 2.8% | 19.7% | ||
| Q2 25 | 0.8% | 6.0% | ||
| Q1 25 | 2.9% | 1.1% | ||
| Q4 24 | 2.5% | 11.4% | ||
| Q3 24 | 0.2% | 20.6% | ||
| Q2 24 | -1.4% | 21.2% |
资本支出强度BTSGDVA
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 4.0% | ||
| Q3 25 | 0.5% | 4.9% | ||
| Q2 25 | 0.8% | 3.6% | ||
| Q1 25 | 0.6% | 4.4% | ||
| Q4 24 | 0.5% | 5.2% | ||
| Q3 24 | 0.7% | 4.3% | ||
| Q2 24 | 0.9% | 3.9% |
现金转化率BTSGDVA
| Q1 26 | — | — | ||
| Q4 25 | 3.00× | 2.31× | ||
| Q3 25 | 1.93× | 5.60× | ||
| Q2 25 | 1.74× | 1.63× | ||
| Q1 25 | 3.44× | 1.10× | ||
| Q4 24 | 5.66× | 2.11× | ||
| Q3 24 | — | 3.77× | ||
| Q2 24 | -0.76× | 3.59× |
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
BTSG
| Medicare D | $1.1B | 32% |
| Commercial Insurance | $879.8M | 25% |
| Medicare C | $641.2M | 18% |
| Provider Services | $394.2M | 11% |
| Medicaid | $301.4M | 8% |
| Medicare A | $150.5M | 4% |
| Private And Other | $44.0M | 1% |
| Medicare B | $19.5M | 1% |
| Pharmacy Solutions And Provider Services Segments | $19.0M | 1% |
DVA
暂无分部数据
