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嘉德诺（BTSG）与Rocket Companies, Inc.（RKT）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Rocket Companies, Inc.的1.3倍（$3.6B vs $2.7B），Rocket Companies, Inc.净利率更高（2.5% vs 2.2%，领先0.4%），Rocket Companies, Inc.同比增速更快（52.2% vs 16.3%），嘉德诺自由现金流更多（$193.9M vs $-1.3B），过去两年Rocket Companies, Inc.的营收复合增速更高（39.5% vs 17.4%）
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。
Rocket Companies, Inc.是美国金融科技及住房服务企业，由丹·吉尔伯特创立，总部位于密歇根州底特律市中心。公司依托旗舰子公司Rocket Mortgage跻身美国最大抵押贷款提供商行列，旗下还拥有Redfin、Forsalebyowner.com、Rocket Money等子品牌。
BTSG vs RKT — 直观对比
营收规模更大
BTSG
是对方的1.3倍
$2.7B
营收增速更快
RKT
高出35.8%
16.3%
净利率更高
RKT
高出0.4%
2.2%
自由现金流更多
BTSG
多$1.5B
$-1.3B
两年增速更快
RKT
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $2.7B |
| 净利润 | $77.1M | $68.0M |
| 毛利率 | 11.6% | — |
| 营业利润率 | 3.0% | 6.3% |
| 净利率 | 2.2% | 2.5% |
| 营收同比 | 16.3% | 52.2% |
| 净利润同比 | 381.8% | 100.8% |
| 每股收益（稀释后） | $0.34 | $0.10 |
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BTSGRKT
| Q4 25 | $3.6B | $2.7B | ||
| Q3 25 | $3.3B | $1.6B | ||
| Q2 25 | $3.1B | $1.4B | ||
| Q1 25 | $2.9B | $1.0B | ||
| Q4 24 | $3.1B | $1.8B | ||
| Q3 24 | $2.9B | $646.9M | ||
| Q2 24 | $2.7B | $1.3B | ||
| Q1 24 | $2.6B | $1.4B |
净利润BTSGRKT
| Q4 25 | $77.1M | $68.0M | ||
| Q3 25 | $55.8M | $-123.9M | ||
| Q2 25 | $28.2M | $-1.8M | ||
| Q1 25 | $29.5M | $-10.4M | ||
| Q4 24 | $16.0M | $33.9M | ||
| Q3 24 | $-8.2M | $-22.0M | ||
| Q2 24 | $19.9M | $1.3M | ||
| Q1 24 | $-45.8M | $16.2M |
毛利率BTSGRKT
| Q4 25 | 11.6% | — | ||
| Q3 25 | 11.8% | — | ||
| Q2 25 | 11.9% | — | ||
| Q1 25 | 11.8% | — | ||
| Q4 24 | 13.8% | 58.9% | ||
| Q3 24 | 14.0% | -8.4% | ||
| Q2 24 | 14.2% | 47.4% | ||
| Q1 24 | 14.3% | 51.2% |
营业利润率BTSGRKT
| Q4 25 | 3.0% | 6.3% | ||
| Q3 25 | 2.6% | -11.5% | ||
| Q2 25 | 1.5% | 1.8% | ||
| Q1 25 | 1.8% | -21.5% | ||
| Q4 24 | 2.6% | 38.1% | ||
| Q3 24 | 2.0% | -76.9% | ||
| Q2 24 | 2.3% | 14.8% | ||
| Q1 24 | 0.3% | 21.6% |
净利率BTSGRKT
| Q4 25 | 2.2% | 2.5% | ||
| Q3 25 | 1.7% | -7.7% | ||
| Q2 25 | 0.9% | -0.1% | ||
| Q1 25 | 1.0% | -1.0% | ||
| Q4 24 | 0.5% | 1.9% | ||
| Q3 24 | -0.3% | -3.4% | ||
| Q2 24 | 0.7% | 0.1% | ||
| Q1 24 | -1.8% | 1.2% |
每股收益（稀释后）BTSGRKT
| Q4 25 | $0.34 | $0.10 | ||
| Q3 25 | $0.26 | $-0.06 | ||
| Q2 25 | $0.13 | $-0.01 | ||
| Q1 25 | $0.14 | $-0.08 | ||
| Q4 24 | $0.11 | $0.28 | ||
| Q3 24 | $-0.04 | $-0.19 | ||
| Q2 24 | $0.10 | $0.01 | ||
| Q1 24 | $-0.26 | $0.11 |
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 | $2.7B |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $1.9B | $22.9B |
| 总资产 | $6.4B | $60.7B |
| 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BTSGRKT
| Q4 25 | $88.4M | $2.7B | ||
| Q3 25 | $140.3M | $5.8B | ||
| Q2 25 | $70.1M | $5.1B | ||
| Q1 25 | $52.3M | $1.4B | ||
| Q4 24 | $61.3M | $1.3B | ||
| Q3 24 | $36.0M | $1.2B | ||
| Q2 24 | $25.0M | $1.3B | ||
| Q1 24 | $58.0M | $861.4M |
总债务BTSGRKT
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $2.5B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.6B | — | ||
| Q1 24 | $2.6B | — |
股东权益BTSGRKT
| Q4 25 | $1.9B | $22.9B | ||
| Q3 25 | $1.8B | $8.9B | ||
| Q2 25 | $1.7B | $7.4B | ||
| Q1 25 | $1.7B | $8.6B | ||
| Q4 24 | $1.6B | $9.0B | ||
| Q3 24 | $1.6B | $8.4B | ||
| Q2 24 | $1.6B | $8.8B | ||
| Q1 24 | $1.6B | $8.6B |
总资产BTSGRKT
| Q4 25 | $6.4B | $60.7B | ||
| Q3 25 | $6.0B | $33.6B | ||
| Q2 25 | $5.9B | $30.4B | ||
| Q1 25 | $5.8B | $25.3B | ||
| Q4 24 | $5.9B | $24.5B | ||
| Q3 24 | $5.8B | $25.1B | ||
| Q2 24 | $5.6B | $23.6B | ||
| Q1 24 | $5.7B | $22.2B |
负债/权益比BTSGRKT
| Q4 25 | 1.34× | — | ||
| Q3 25 | 1.38× | — | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.50× | — | ||
| Q4 24 | 1.58× | — | ||
| Q3 24 | 1.65× | — | ||
| Q2 24 | 1.63× | — | ||
| Q1 24 | 1.64× | — |
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 | $-1.2B |
| 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% | -47.2% |
| 资本支出强度资本支出/营收 | 1.1% | 1.5% |
| 现金转化率经营现金流/净利润 | 3.00× | -18.08× |
| 过去12个月自由现金流最近4个季度 | $394.7M | $-4.0B |
8季度趋势，按日历期对齐
经营现金流BTSGRKT
| Q4 25 | $231.6M | $-1.2B | ||
| Q3 25 | $107.9M | $-50.3M | ||
| Q2 25 | $49.1M | $-1.9B | ||
| Q1 25 | $101.6M | $-797.0M | ||
| Q4 24 | $90.6M | $1.8B | ||
| Q3 24 | $27.2M | $-1.3B | ||
| Q2 24 | $-15.2M | $-122.3M | ||
| Q1 24 | $-78.9M | $-3.0B |
自由现金流BTSGRKT
| Q4 25 | $193.9M | $-1.3B | ||
| Q3 25 | $92.2M | $-71.8M | ||
| Q2 25 | $24.7M | $-1.9B | ||
| Q1 25 | $84.0M | $-811.0M | ||
| Q4 24 | $75.3M | $1.8B | ||
| Q3 24 | $7.2M | $-1.4B | ||
| Q2 24 | $-39.0M | $-138.3M | ||
| Q1 24 | $-100.7M | $-3.0B |
自由现金流率BTSGRKT
| Q4 25 | 5.5% | -47.2% | ||
| Q3 25 | 2.8% | -4.5% | ||
| Q2 25 | 0.8% | -137.2% | ||
| Q1 25 | 2.9% | -78.2% | ||
| Q4 24 | 2.5% | 103.1% | ||
| Q3 24 | 0.2% | -209.6% | ||
| Q2 24 | -1.4% | -10.6% | ||
| Q1 24 | -3.9% | -218.7% |
资本支出强度BTSGRKT
| Q4 25 | 1.1% | 1.5% | ||
| Q3 25 | 0.5% | 1.3% | ||
| Q2 25 | 0.8% | 1.1% | ||
| Q1 25 | 0.6% | 1.4% | ||
| Q4 24 | 0.5% | 1.1% | ||
| Q3 24 | 0.7% | 2.9% | ||
| Q2 24 | 0.9% | 1.2% | ||
| Q1 24 | 0.8% | 1.0% |
现金转化率BTSGRKT
| Q4 25 | 3.00× | -18.08× | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 1.74× | — | ||
| Q1 25 | 3.44× | — | ||
| Q4 24 | 5.66× | 54.42× | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.76× | -94.46× | ||
| Q1 24 | — | -185.80× |
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% |
RKT
| Other | $1.4B | 51% |
| Direct To Customer Segment | $945.8M | 35% |
| Partner Network Segment | $216.7M | 8% |
| Subscription Revenue | $91.3M | 3% |
| Closing Fees | $47.1M | 2% |
| Appraisal Revenue | $10.7M | 0% |
