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嘉德诺（BTSG）与Enhabit, Inc.（EHAB）财务数据对比。点击上方公司名可切换其他公司
嘉德诺的季度营收约是Enhabit, Inc.的13.1倍（$3.6B vs $270.4M）。嘉德诺净利率更高（2.2% vs -14.3%，领先16.5%）。嘉德诺同比增速更快（16.3% vs 4.7%）。嘉德诺自由现金流更多（$193.9M vs $3.3M）。过去两年嘉德诺的营收复合增速更高（17.4% vs 1.5%）
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。
Enhabit, Inc.是总部位于美国得克萨斯州达拉斯的居家护理与临终关怀服务提供商，目前在全美34个州运营255个居家护理站点与110个临终关怀站点，业务集中在得克萨斯、亚拉巴马、佛罗里达、佐治亚、俄克拉荷马与密西西比，是美国第四大居家护理服务商，也是头部临终关怀服务商，2022年由恩compass健康拆分居家护理与临终关怀业务拆分成立。
BTSG vs EHAB — 直观对比
营收规模更大
BTSG
是对方的13.1倍
$270.4M
营收增速更快
BTSG
高出11.6%
4.7%
净利率更高
BTSG
高出16.5%
-14.3%
自由现金流更多
BTSG
多$190.6M
$3.3M
两年增速更快
BTSG
近两年复合增速
1.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $270.4M |
| 净利润 | $77.1M | $-38.7M |
| 毛利率 | 11.6% | — |
| 营业利润率 | 3.0% | -12.3% |
| 净利率 | 2.2% | -14.3% |
| 营收同比 | 16.3% | 4.7% |
| 净利润同比 | 381.8% | 15.9% |
| 每股收益（稀释后） | $0.34 | $-0.76 |
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BTSGEHAB
| Q4 25 | $3.6B | $270.4M | ||
| Q3 25 | $3.3B | $263.6M | ||
| Q2 25 | $3.1B | $266.1M | ||
| Q1 25 | $2.9B | $259.9M | ||
| Q4 24 | $3.1B | $258.2M | ||
| Q3 24 | $2.9B | $253.6M | ||
| Q2 24 | $2.7B | $260.6M | ||
| Q1 24 | $2.6B | $262.4M |
净利润BTSGEHAB
| Q4 25 | $77.1M | $-38.7M | ||
| Q3 25 | $55.8M | $11.1M | ||
| Q2 25 | $28.2M | $5.2M | ||
| Q1 25 | $29.5M | $17.8M | ||
| Q4 24 | $16.0M | $-46.0M | ||
| Q3 24 | $-8.2M | $-110.2M | ||
| Q2 24 | $19.9M | $-200.0K | ||
| Q1 24 | $-45.8M | $200.0K |
毛利率BTSGEHAB
| 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% | — | ||
| Q1 24 | 14.3% | — |
营业利润率BTSGEHAB
| Q4 25 | 3.0% | -12.3% | ||
| Q3 25 | 2.6% | 6.4% | ||
| Q2 25 | 1.5% | 6.3% | ||
| Q1 25 | 1.8% | 6.1% | ||
| Q4 24 | 2.6% | -16.0% | ||
| Q3 24 | 2.0% | -38.6% | ||
| Q2 24 | 2.3% | 4.3% | ||
| Q1 24 | 0.3% | 4.9% |
净利率BTSGEHAB
| Q4 25 | 2.2% | -14.3% | ||
| Q3 25 | 1.7% | 4.2% | ||
| Q2 25 | 0.9% | 2.0% | ||
| Q1 25 | 1.0% | 6.8% | ||
| Q4 24 | 0.5% | -17.8% | ||
| Q3 24 | -0.3% | -43.5% | ||
| Q2 24 | 0.7% | -0.1% | ||
| Q1 24 | -1.8% | 0.1% |
每股收益（稀释后）BTSGEHAB
| Q4 25 | $0.34 | $-0.76 | ||
| Q3 25 | $0.26 | $0.22 | ||
| Q2 25 | $0.13 | $0.10 | ||
| Q1 25 | $0.14 | $0.35 | ||
| Q4 24 | $0.11 | $-0.92 | ||
| Q3 24 | $-0.04 | $-2.20 | ||
| Q2 24 | $0.10 | $0.00 | ||
| Q1 24 | $-0.26 | $0.01 |
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 | $43.6M |
| 总债务越低越好 | $2.5B | $426.0M |
| 股东权益账面价值 | $1.9B | $534.0M |
| 总资产 | $6.4B | $1.2B |
| 负债/权益比越低杠杆越低 | 1.34× | 0.80× |
8季度趋势，按日历期对齐
现金及短期投资BTSGEHAB
| Q4 25 | $88.4M | $43.6M | ||
| Q3 25 | $140.3M | $56.9M | ||
| Q2 25 | $70.1M | $37.1M | ||
| Q1 25 | $52.3M | $39.5M | ||
| Q4 24 | $61.3M | $28.4M | ||
| Q3 24 | $36.0M | $45.7M | ||
| Q2 24 | $25.0M | $28.5M | ||
| Q1 24 | $58.0M | $36.5M |
总债务BTSGEHAB
| Q4 25 | $2.5B | $426.0M | ||
| Q3 25 | $2.5B | $441.5M | ||
| Q2 25 | $2.5B | $456.9M | ||
| Q1 25 | $2.5B | $467.3M | ||
| Q4 24 | $2.6B | $492.6M | ||
| Q3 24 | $2.7B | $502.9M | ||
| Q2 24 | $2.6B | $512.7M | ||
| Q1 24 | $2.6B | $526.7M |
股东权益BTSGEHAB
| Q4 25 | $1.9B | $534.0M | ||
| Q3 25 | $1.8B | $566.8M | ||
| Q2 25 | $1.7B | $552.4M | ||
| Q1 25 | $1.7B | $543.2M | ||
| Q4 24 | $1.6B | $523.5M | ||
| Q3 24 | $1.6B | $566.1M | ||
| Q2 24 | $1.6B | $674.3M | ||
| Q1 24 | $1.6B | $672.3M |
总资产BTSGEHAB
| Q4 25 | $6.4B | $1.2B | ||
| Q3 25 | $6.0B | $1.2B | ||
| Q2 25 | $5.9B | $1.2B | ||
| Q1 25 | $5.8B | $1.2B | ||
| Q4 24 | $5.9B | $1.2B | ||
| Q3 24 | $5.8B | $1.3B | ||
| Q2 24 | $5.6B | $1.4B | ||
| Q1 24 | $5.7B | $1.4B |
负债/权益比BTSGEHAB
| Q4 25 | 1.34× | 0.80× | ||
| Q3 25 | 1.38× | 0.78× | ||
| Q2 25 | 1.45× | 0.83× | ||
| Q1 25 | 1.50× | 0.86× | ||
| Q4 24 | 1.58× | 0.94× | ||
| Q3 24 | 1.65× | 0.89× | ||
| Q2 24 | 1.63× | 0.76× | ||
| Q1 24 | 1.64× | 0.78× |
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 | $4.4M |
| 自由现金流经营现金流 - 资本支出 | $193.9M | $3.3M |
| 自由现金流率自由现金流/营收 | 5.5% | 1.2% |
| 资本支出强度资本支出/营收 | 1.1% | 0.4% |
| 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 | $65.8M |
8季度趋势，按日历期对齐
经营现金流BTSGEHAB
| Q4 25 | $231.6M | $4.4M | ||
| Q3 25 | $107.9M | $37.8M | ||
| Q2 25 | $49.1M | $10.6M | ||
| Q1 25 | $101.6M | $17.9M | ||
| Q4 24 | $90.6M | $-4.1M | ||
| Q3 24 | $27.2M | $28.4M | ||
| Q2 24 | $-15.2M | $9.6M | ||
| Q1 24 | $-78.9M | $17.3M |
自由现金流BTSGEHAB
| Q4 25 | $193.9M | $3.3M | ||
| Q3 25 | $92.2M | $36.2M | ||
| Q2 25 | $24.7M | $8.7M | ||
| Q1 25 | $84.0M | $17.6M | ||
| Q4 24 | $75.3M | $-4.7M | ||
| Q3 24 | $7.2M | $27.7M | ||
| Q2 24 | $-39.0M | $8.9M | ||
| Q1 24 | $-100.7M | $15.5M |
自由现金流率BTSGEHAB
| Q4 25 | 5.5% | 1.2% | ||
| Q3 25 | 2.8% | 13.7% | ||
| Q2 25 | 0.8% | 3.3% | ||
| Q1 25 | 2.9% | 6.8% | ||
| Q4 24 | 2.5% | -1.8% | ||
| Q3 24 | 0.2% | 10.9% | ||
| Q2 24 | -1.4% | 3.4% | ||
| Q1 24 | -3.9% | 5.9% |
资本支出强度BTSGEHAB
| Q4 25 | 1.1% | 0.4% | ||
| Q3 25 | 0.5% | 0.6% | ||
| Q2 25 | 0.8% | 0.7% | ||
| Q1 25 | 0.6% | 0.1% | ||
| Q4 24 | 0.5% | 0.2% | ||
| Q3 24 | 0.7% | 0.3% | ||
| Q2 24 | 0.9% | 0.3% | ||
| Q1 24 | 0.8% | 0.7% |
现金转化率BTSGEHAB
| Q4 25 | 3.00× | — | ||
| Q3 25 | 1.93× | 3.41× | ||
| Q2 25 | 1.74× | 2.04× | ||
| Q1 25 | 3.44× | 1.01× | ||
| Q4 24 | 5.66× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.76× | — | ||
| Q1 24 | — | 86.50× |
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% |
EHAB
| Third Party Payor Medicare | $111.6M | 41% |
| Third Party Payor Medicare Advantage | $67.5M | 25% |
| Hospice Segment | $63.6M | 24% |
| Third Party Payor Managed Care | $24.9M | 9% |
| Third Party Payor Medicaid | $1.7M | 1% |
