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嘉德诺（BTSG）与固铂轮胎（GT）财务数据对比。点击上方公司名可切换其他公司
固铂轮胎的季度营收约是嘉德诺的1.4倍（$4.9B vs $3.6B），嘉德诺净利率更高（2.2% vs 2.1%，领先0.0%），嘉德诺同比增速更快（16.3% vs -0.6%），固铂轮胎自由现金流更多（$1.3B vs $193.9M），过去两年嘉德诺的营收复合增速更高（17.4% vs 4.1%）
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。
固铂轮胎橡胶公司是美国知名轮胎企业，专注于乘用车、卡车替换轮胎的设计、生产、营销与销售，旗下子公司还覆盖中型卡车、摩托车及赛车轮胎业务。公司总部位于俄亥俄州芬德利，在全球拥有60处制造、销售、配送、技术及研发设计基地，旗下还拥有英国雅芳轮胎品牌，生产摩托车等品类的轮胎产品。
BTSG vs GT — 直观对比
营收规模更大
GT
是对方的1.4倍
$3.6B
营收增速更快
BTSG
高出16.9%
-0.6%
净利率更高
BTSG
高出0.0%
2.1%
自由现金流更多
GT
多$1.1B
$193.9M
两年增速更快
BTSG
近两年复合增速
4.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $4.9B |
| 净利润 | $77.1M | $105.0M |
| 毛利率 | 11.6% | 20.9% |
| 营业利润率 | 3.0% | 3.3% |
| 净利率 | 2.2% | 2.1% |
| 营收同比 | 16.3% | -0.6% |
| 净利润同比 | 381.8% | 43.8% |
| 每股收益（稀释后） | $0.34 | $0.36 |
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BTSGGT
| Q4 25 | $3.6B | $4.9B | ||
| Q3 25 | $3.3B | $4.6B | ||
| Q2 25 | $3.1B | $4.5B | ||
| Q1 25 | $2.9B | $4.3B | ||
| Q4 24 | $3.1B | $4.9B | ||
| Q3 24 | $2.9B | $4.8B | ||
| Q2 24 | $2.7B | $4.6B | ||
| Q1 24 | $2.6B | $4.5B |
净利润BTSGGT
| Q4 25 | $77.1M | $105.0M | ||
| Q3 25 | $55.8M | $-2.2B | ||
| Q2 25 | $28.2M | $254.0M | ||
| Q1 25 | $29.5M | $115.0M | ||
| Q4 24 | $16.0M | $73.0M | ||
| Q3 24 | $-8.2M | $-37.0M | ||
| Q2 24 | $19.9M | $79.0M | ||
| Q1 24 | $-45.8M | $-69.0M |
毛利率BTSGGT
| Q4 25 | 11.6% | 20.9% | ||
| Q3 25 | 11.8% | 18.2% | ||
| Q2 25 | 11.9% | 17.0% | ||
| Q1 25 | 11.8% | 17.4% | ||
| Q4 24 | 13.8% | 19.9% | ||
| Q3 24 | 14.0% | 19.5% | ||
| Q2 24 | 14.2% | 20.6% | ||
| Q1 24 | 14.3% | 18.0% |
营业利润率BTSGGT
| Q4 25 | 3.0% | 3.3% | ||
| Q3 25 | 2.6% | -15.8% | ||
| Q2 25 | 1.5% | 6.8% | ||
| Q1 25 | 1.8% | 3.1% | ||
| Q4 24 | 2.6% | 1.5% | ||
| Q3 24 | 2.0% | -0.6% | ||
| Q2 24 | 2.3% | 2.9% | ||
| Q1 24 | 0.3% | -1.1% |
净利率BTSGGT
| Q4 25 | 2.2% | 2.1% | ||
| Q3 25 | 1.7% | -47.3% | ||
| Q2 25 | 0.9% | 5.7% | ||
| Q1 25 | 1.0% | 2.7% | ||
| Q4 24 | 0.5% | 1.5% | ||
| Q3 24 | -0.3% | -0.8% | ||
| Q2 24 | 0.7% | 1.7% | ||
| Q1 24 | -1.8% | -1.5% |
每股收益（稀释后）BTSGGT
| Q4 25 | $0.34 | $0.36 | ||
| Q3 25 | $0.26 | $-7.62 | ||
| Q2 25 | $0.13 | $0.87 | ||
| Q1 25 | $0.14 | $0.40 | ||
| Q4 24 | $0.11 | $0.25 | ||
| Q3 24 | $-0.04 | $-0.13 | ||
| Q2 24 | $0.10 | $0.28 | ||
| Q1 24 | $-0.26 | $-0.24 |
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 | $801.0M |
| 总债务越低越好 | $2.5B | $5.3B |
| 股东权益账面价值 | $1.9B | $3.2B |
| 总资产 | $6.4B | $18.2B |
| 负债/权益比越低杠杆越低 | 1.34× | 1.65× |
8季度趋势，按日历期对齐
现金及短期投资BTSGGT
| Q4 25 | $88.4M | $801.0M | ||
| Q3 25 | $140.3M | $810.0M | ||
| Q2 25 | $70.1M | $785.0M | ||
| Q1 25 | $52.3M | $902.0M | ||
| Q4 24 | $61.3M | $810.0M | ||
| Q3 24 | $36.0M | $905.0M | ||
| Q2 24 | $25.0M | $789.0M | ||
| Q1 24 | $58.0M | $893.0M |
总债务BTSGGT
| Q4 25 | $2.5B | $5.3B | ||
| Q3 25 | $2.5B | $7.3B | ||
| Q2 25 | $2.5B | $6.6B | ||
| Q1 25 | $2.5B | $7.3B | ||
| Q4 24 | $2.6B | $6.4B | ||
| Q3 24 | $2.7B | $7.4B | ||
| Q2 24 | $2.6B | $6.8B | ||
| Q1 24 | $2.6B | $7.5B |
股东权益BTSGGT
| Q4 25 | $1.9B | $3.2B | ||
| Q3 25 | $1.8B | $3.0B | ||
| Q2 25 | $1.7B | $5.1B | ||
| Q1 25 | $1.7B | $4.9B | ||
| Q4 24 | $1.6B | $4.7B | ||
| Q3 24 | $1.6B | $4.7B | ||
| Q2 24 | $1.6B | $4.7B | ||
| Q1 24 | $1.6B | $4.6B |
总资产BTSGGT
| Q4 25 | $6.4B | $18.2B | ||
| Q3 25 | $6.0B | $20.2B | ||
| Q2 25 | $5.9B | $22.3B | ||
| Q1 25 | $5.8B | $21.7B | ||
| Q4 24 | $5.9B | $20.9B | ||
| Q3 24 | $5.8B | $22.5B | ||
| Q2 24 | $5.6B | $22.0B | ||
| Q1 24 | $5.7B | $22.0B |
负债/权益比BTSGGT
| Q4 25 | 1.34× | 1.65× | ||
| Q3 25 | 1.38× | 2.42× | ||
| Q2 25 | 1.45× | 1.28× | ||
| Q1 25 | 1.50× | 1.48× | ||
| Q4 24 | 1.58× | 1.37× | ||
| Q3 24 | 1.65× | 1.57× | ||
| Q2 24 | 1.63× | 1.45× | ||
| Q1 24 | 1.64× | 1.61× |
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 | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $193.9M | $1.3B |
| 自由现金流率自由现金流/营收 | 5.5% | 27.2% |
| 资本支出强度资本支出/营收 | 1.1% | 3.6% |
| 现金转化率经营现金流/净利润 | 3.00× | 14.40× |
| 过去12个月自由现金流最近4个季度 | $394.7M | $-30.0M |
8季度趋势，按日历期对齐
经营现金流BTSGGT
| Q4 25 | $231.6M | $1.5B | ||
| Q3 25 | $107.9M | $2.0M | ||
| Q2 25 | $49.1M | $-180.0M | ||
| Q1 25 | $101.6M | $-538.0M | ||
| Q4 24 | $90.6M | $1.3B | ||
| Q3 24 | $27.2M | $-73.0M | ||
| Q2 24 | $-15.2M | $-67.0M | ||
| Q1 24 | $-78.9M | $-451.0M |
自由现金流BTSGGT
| Q4 25 | $193.9M | $1.3B | ||
| Q3 25 | $92.2M | $-181.0M | ||
| Q2 25 | $24.7M | $-387.0M | ||
| Q1 25 | $84.0M | $-797.0M | ||
| Q4 24 | $75.3M | $1.0B | ||
| Q3 24 | $7.2M | $-351.0M | ||
| Q2 24 | $-39.0M | $-383.0M | ||
| Q1 24 | $-100.7M | $-769.0M |
自由现金流率BTSGGT
| Q4 25 | 5.5% | 27.2% | ||
| Q3 25 | 2.8% | -3.9% | ||
| Q2 25 | 0.8% | -8.7% | ||
| Q1 25 | 2.9% | -18.7% | ||
| Q4 24 | 2.5% | 20.5% | ||
| Q3 24 | 0.2% | -7.3% | ||
| Q2 24 | -1.4% | -8.4% | ||
| Q1 24 | -3.9% | -16.9% |
资本支出强度BTSGGT
| Q4 25 | 1.1% | 3.6% | ||
| Q3 25 | 0.5% | 3.9% | ||
| Q2 25 | 0.8% | 4.6% | ||
| Q1 25 | 0.6% | 6.1% | ||
| Q4 24 | 0.5% | 5.6% | ||
| Q3 24 | 0.7% | 5.8% | ||
| Q2 24 | 0.9% | 6.9% | ||
| Q1 24 | 0.8% | 7.0% |
现金转化率BTSGGT
| Q4 25 | 3.00× | 14.40× | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 1.74× | -0.71× | ||
| Q1 25 | 3.44× | -4.68× | ||
| Q4 24 | 5.66× | 17.66× | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.76× | -0.85× | ||
| Q1 24 | — | — |
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% |
GT
| Tire Unit Sales | $2.4B | 50% |
| Other | $2.3B | 46% |
| Other Tireand Related Sales | $192.0M | 4% |
