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嘉德诺（BTSG）与罗克韦尔自动化（ROK）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罗克韦尔自动化的1.7倍（$3.6B vs $2.1B），罗克韦尔自动化净利率更高（14.5% vs 2.2%，领先12.3%），嘉德诺同比增速更快（16.3% vs 11.9%），嘉德诺自由现金流更多（$193.9M vs $170.0M），过去两年嘉德诺的营收复合增速更高（17.4% vs -0.5%）
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。
罗克韦尔自动化是总部位于美国威斯康星州密尔沃基的工业自动化及数字化转型技术提供商，旗下拥有Allen-Bradley、FactoryTalk软件、LifecycleIQ服务等核心品牌，全球员工约2.7万人，服务覆盖100多个国家和地区的客户。
BTSG vs ROK — 直观对比
营收规模更大
BTSG
是对方的1.7倍
$2.1B
营收增速更快
BTSG
高出4.4%
11.9%
净利率更高
ROK
高出12.3%
2.2%
自由现金流更多
BTSG
多$23.9M
$170.0M
两年增速更快
BTSG
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $2.1B |
| 净利润 | $77.1M | $305.0M |
| 毛利率 | 11.6% | 48.3% |
| 营业利润率 | 3.0% | 20.7% |
| 净利率 | 2.2% | 14.5% |
| 营收同比 | 16.3% | 11.9% |
| 净利润同比 | 381.8% | 65.8% |
| 每股收益（稀释后） | $0.34 | $2.69 |
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BTSGROK
| Q4 25 | $3.6B | $2.1B | ||
| Q3 25 | $3.3B | $2.3B | ||
| Q2 25 | $3.1B | $2.1B | ||
| Q1 25 | $2.9B | $2.0B | ||
| Q4 24 | $3.1B | $1.9B | ||
| Q3 24 | $2.9B | $2.0B | ||
| Q2 24 | $2.7B | $2.1B | ||
| Q1 24 | $2.6B | $2.1B |
净利润BTSGROK
| Q4 25 | $77.1M | $305.0M | ||
| Q3 25 | $55.8M | $138.0M | ||
| Q2 25 | $28.2M | $295.0M | ||
| Q1 25 | $29.5M | $252.0M | ||
| Q4 24 | $16.0M | $184.0M | ||
| Q3 24 | $-8.2M | $239.1M | ||
| Q2 24 | $19.9M | $232.0M | ||
| Q1 24 | $-45.8M | $266.2M |
毛利率BTSGROK
| Q4 25 | 11.6% | 48.3% | ||
| Q3 25 | 11.8% | 69.4% | ||
| Q2 25 | 11.9% | 40.9% | ||
| Q1 25 | 11.8% | 40.5% | ||
| Q4 24 | 13.8% | 38.4% | ||
| Q3 24 | 14.0% | 37.9% | ||
| Q2 24 | 14.2% | 38.8% | ||
| Q1 24 | 14.3% | 39.2% |
营业利润率BTSGROK
| Q4 25 | 3.0% | 20.7% | ||
| Q3 25 | 2.6% | 2.7% | ||
| Q2 25 | 1.5% | 16.0% | ||
| Q1 25 | 1.8% | 14.9% | ||
| Q4 24 | 2.6% | 17.1% | ||
| Q3 24 | 2.0% | 13.5% | ||
| Q2 24 | 2.3% | 12.4% | ||
| Q1 24 | 0.3% | 14.6% |
净利率BTSGROK
| Q4 25 | 2.2% | 14.5% | ||
| Q3 25 | 1.7% | 6.0% | ||
| Q2 25 | 0.9% | 13.8% | ||
| Q1 25 | 1.0% | 12.6% | ||
| Q4 24 | 0.5% | 9.8% | ||
| Q3 24 | -0.3% | 11.7% | ||
| Q2 24 | 0.7% | 11.3% | ||
| Q1 24 | -1.8% | 12.5% |
每股收益（稀释后）BTSGROK
| Q4 25 | $0.34 | $2.69 | ||
| Q3 25 | $0.26 | $1.24 | ||
| Q2 25 | $0.13 | $2.60 | ||
| Q1 25 | $0.14 | $2.22 | ||
| Q4 24 | $0.11 | $1.61 | ||
| Q3 24 | $-0.04 | $2.09 | ||
| Q2 24 | $0.10 | $2.02 | ||
| Q1 24 | $-0.26 | $2.31 |
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 | $444.0M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $1.9B | $3.7B |
| 总资产 | $6.4B | $11.2B |
| 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BTSGROK
| Q4 25 | $88.4M | $444.0M | ||
| Q3 25 | $140.3M | $468.0M | ||
| Q2 25 | $70.1M | $495.0M | ||
| Q1 25 | $52.3M | $456.0M | ||
| Q4 24 | $61.3M | $477.0M | ||
| Q3 24 | $36.0M | $471.3M | ||
| Q2 24 | $25.0M | $407.0M | ||
| Q1 24 | $58.0M | $470.5M |
总债务BTSGROK
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.5B | $2.6B | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $2.5B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | $2.6B | ||
| Q2 24 | $2.6B | — | ||
| Q1 24 | $2.6B | — |
股东权益BTSGROK
| Q4 25 | $1.9B | $3.7B | ||
| Q3 25 | $1.8B | $3.7B | ||
| Q2 25 | $1.7B | $3.5B | ||
| Q1 25 | $1.7B | $3.4B | ||
| Q4 24 | $1.6B | $3.4B | ||
| Q3 24 | $1.6B | $3.5B | ||
| Q2 24 | $1.6B | $3.3B | ||
| Q1 24 | $1.6B | $3.5B |
总资产BTSGROK
| Q4 25 | $6.4B | $11.2B | ||
| Q3 25 | $6.0B | $11.2B | ||
| Q2 25 | $5.9B | $11.2B | ||
| Q1 25 | $5.8B | $11.0B | ||
| Q4 24 | $5.9B | $10.9B | ||
| Q3 24 | $5.8B | $11.2B | ||
| Q2 24 | $5.6B | $11.2B | ||
| Q1 24 | $5.7B | $11.4B |
负债/权益比BTSGROK
| Q4 25 | 1.34× | — | ||
| Q3 25 | 1.38× | 0.72× | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.50× | — | ||
| Q4 24 | 1.58× | — | ||
| Q3 24 | 1.65× | 0.73× | ||
| 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 | $234.0M |
| 自由现金流经营现金流 - 资本支出 | $193.9M | $170.0M |
| 自由现金流率自由现金流/营收 | 5.5% | 8.1% |
| 资本支出强度资本支出/营收 | 1.1% | 3.0% |
| 现金转化率经营现金流/净利润 | 3.00× | 0.77× |
| 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BTSGROK
| Q4 25 | $231.6M | $234.0M | ||
| Q3 25 | $107.9M | $454.0M | ||
| Q2 25 | $49.1M | $527.0M | ||
| Q1 25 | $101.6M | $199.0M | ||
| Q4 24 | $90.6M | $364.0M | ||
| Q3 24 | $27.2M | $432.3M | ||
| Q2 24 | $-15.2M | $279.1M | ||
| Q1 24 | $-78.9M | $119.8M |
自由现金流BTSGROK
| Q4 25 | $193.9M | $170.0M | ||
| Q3 25 | $92.2M | — | ||
| Q2 25 | $24.7M | $489.0M | ||
| Q1 25 | $84.0M | $171.0M | ||
| Q4 24 | $75.3M | $293.0M | ||
| Q3 24 | $7.2M | — | ||
| Q2 24 | $-39.0M | $238.4M | ||
| Q1 24 | $-100.7M | $68.6M |
自由现金流率BTSGROK
| Q4 25 | 5.5% | 8.1% | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | 0.8% | 22.8% | ||
| Q1 25 | 2.9% | 8.5% | ||
| Q4 24 | 2.5% | 15.6% | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | -1.4% | 11.6% | ||
| Q1 24 | -3.9% | 3.2% |
资本支出强度BTSGROK
| Q4 25 | 1.1% | 3.0% | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.8% | 1.8% | ||
| Q1 25 | 0.6% | 1.4% | ||
| Q4 24 | 0.5% | 3.8% | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 0.9% | 2.0% | ||
| Q1 24 | 0.8% | 2.4% |
现金转化率BTSGROK
| Q4 25 | 3.00× | 0.77× | ||
| Q3 25 | 1.93× | 3.29× | ||
| Q2 25 | 1.74× | 1.79× | ||
| Q1 25 | 3.44× | 0.79× | ||
| Q4 24 | 5.66× | 1.98× | ||
| Q3 24 | — | 1.81× | ||
| Q2 24 | -0.76× | 1.20× | ||
| Q1 24 | — | 0.45× |
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% |
ROK
| Productsand Solutions | $1.9B | 89% |
| Lifecycle Services Segment | $259.0M | 12% |
