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嘉德诺（BTSG）与Universal Health Services（UHS）财务数据对比。点击上方公司名可切换其他公司
Universal Health Services的季度营收约是嘉德诺的1.3倍（$4.5B vs $3.6B），Universal Health Services净利率更高（8.0% vs 2.2%，领先5.8%），嘉德诺同比增速更快（16.3% vs 8.2%），过去两年嘉德诺的营收复合增速更高（17.4% vs 7.3%）
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。
Universal Health Services（简称UHS）是美国财富500强企业，总部位于宾夕法尼亚州普鲁士王市，主营医院运营及各类医疗健康服务，2024年公布的总营收达158亿美元，在全球医疗服务领域具备较强的市场影响力。
BTSG vs UHS — 直观对比
营收规模更大
UHS
是对方的1.3倍
$3.6B
营收增速更快
BTSG
高出8.1%
8.2%
净利率更高
UHS
高出5.8%
2.2%
两年增速更快
BTSG
近两年复合增速
7.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $4.5B |
| 净利润 | $77.1M | $358.7M |
| 毛利率 | 11.6% | — |
| 营业利润率 | 3.0% | 11.2% |
| 净利率 | 2.2% | 8.0% |
| 营收同比 | 16.3% | 8.2% |
| 净利润同比 | 381.8% | 11.5% |
| 每股收益（稀释后） | $0.34 | $5.65 |
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BTSGUHS
| Q1 26 | — | $4.5B | ||
| Q4 25 | $3.6B | $4.5B | ||
| Q3 25 | $3.3B | $4.5B | ||
| Q2 25 | $3.1B | $4.3B | ||
| Q1 25 | $2.9B | $4.1B | ||
| Q4 24 | $3.1B | $4.1B | ||
| Q3 24 | $2.9B | $4.0B | ||
| Q2 24 | $2.7B | $3.9B |
净利润BTSGUHS
| Q1 26 | — | $358.7M | ||
| Q4 25 | $77.1M | $445.9M | ||
| Q3 25 | $55.8M | $373.0M | ||
| Q2 25 | $28.2M | $353.2M | ||
| Q1 25 | $29.5M | $316.7M | ||
| Q4 24 | $16.0M | $332.4M | ||
| Q3 24 | $-8.2M | $258.7M | ||
| Q2 24 | $19.9M | $289.2M |
毛利率BTSGUHS
| 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BTSGUHS
| Q1 26 | — | 11.2% | ||
| Q4 25 | 3.0% | 11.5% | ||
| Q3 25 | 2.6% | 11.6% | ||
| Q2 25 | 1.5% | 11.7% | ||
| Q1 25 | 1.8% | 11.1% | ||
| Q4 24 | 2.6% | 11.5% | ||
| Q3 24 | 2.0% | 9.7% | ||
| Q2 24 | 2.3% | 11.2% |
净利率BTSGUHS
| Q1 26 | — | 8.0% | ||
| Q4 25 | 2.2% | 9.9% | ||
| Q3 25 | 1.7% | 8.3% | ||
| Q2 25 | 0.9% | 8.2% | ||
| Q1 25 | 1.0% | 7.7% | ||
| Q4 24 | 0.5% | 8.1% | ||
| Q3 24 | -0.3% | 6.5% | ||
| Q2 24 | 0.7% | 7.4% |
每股收益（稀释后）BTSGUHS
| Q1 26 | — | $5.65 | ||
| Q4 25 | $0.34 | $7.01 | ||
| Q3 25 | $0.26 | $5.86 | ||
| Q2 25 | $0.13 | $5.43 | ||
| Q1 25 | $0.14 | $4.80 | ||
| Q4 24 | $0.11 | $4.94 | ||
| Q3 24 | $-0.04 | $3.80 | ||
| Q2 24 | $0.10 | $4.26 |
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 | $119.0M |
| 总债务越低越好 | $2.5B | $4.7B |
| 股东权益账面价值 | $1.9B | $7.5B |
| 总资产 | $6.4B | $15.7B |
| 负债/权益比越低杠杆越低 | 1.34× | 0.63× |
8季度趋势，按日历期对齐
现金及短期投资BTSGUHS
| Q1 26 | — | $119.0M | ||
| Q4 25 | $88.4M | $137.8M | ||
| Q3 25 | $140.3M | $112.9M | ||
| Q2 25 | $70.1M | $137.6M | ||
| Q1 25 | $52.3M | $126.8M | ||
| Q4 24 | $61.3M | $126.0M | ||
| Q3 24 | $36.0M | $106.1M | ||
| Q2 24 | $25.0M | $128.8M |
总债务BTSGUHS
| Q1 26 | — | $4.7B | ||
| Q4 25 | $2.5B | $4.8B | ||
| Q3 25 | $2.5B | $4.7B | ||
| Q2 25 | $2.5B | $4.6B | ||
| Q1 25 | $2.5B | $4.6B | ||
| Q4 24 | $2.6B | $4.5B | ||
| Q3 24 | $2.7B | $4.7B | ||
| Q2 24 | $2.6B | $4.5B |
股东权益BTSGUHS
| Q1 26 | — | $7.5B | ||
| Q4 25 | $1.9B | $7.3B | ||
| Q3 25 | $1.8B | $7.2B | ||
| Q2 25 | $1.7B | $7.0B | ||
| Q1 25 | $1.7B | $6.8B | ||
| Q4 24 | $1.6B | $6.7B | ||
| Q3 24 | $1.6B | $6.6B | ||
| Q2 24 | $1.6B | $6.5B |
总资产BTSGUHS
| Q1 26 | — | $15.7B | ||
| Q4 25 | $6.4B | $15.5B | ||
| Q3 25 | $6.0B | $15.3B | ||
| Q2 25 | $5.9B | $15.0B | ||
| Q1 25 | $5.8B | $14.9B | ||
| Q4 24 | $5.9B | $14.5B | ||
| Q3 24 | $5.8B | $14.4B | ||
| Q2 24 | $5.6B | $14.1B |
负债/权益比BTSGUHS
| Q1 26 | — | 0.63× | ||
| Q4 25 | 1.34× | 0.65× | ||
| Q3 25 | 1.38× | 0.66× | ||
| Q2 25 | 1.45× | 0.65× | ||
| Q1 25 | 1.50× | 0.68× | ||
| Q4 24 | 1.58× | 0.68× | ||
| Q3 24 | 1.65× | 0.71× | ||
| Q2 24 | 1.63× | 0.69× |
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 | $401.6M |
| 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% | 4.8% |
| 现金转化率经营现金流/净利润 | 3.00× | 1.12× |
| 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BTSGUHS
| Q1 26 | — | $401.6M | ||
| Q4 25 | $231.6M | $574.7M | ||
| Q3 25 | $107.9M | $380.7M | ||
| Q2 25 | $49.1M | $549.0M | ||
| Q1 25 | $101.6M | $360.0M | ||
| Q4 24 | $90.6M | $658.4M | ||
| Q3 24 | $27.2M | $333.0M | ||
| Q2 24 | $-15.2M | $679.3M |
自由现金流BTSGUHS
| Q1 26 | — | — | ||
| Q4 25 | $193.9M | $293.5M | ||
| Q3 25 | $92.2M | $151.8M | ||
| Q2 25 | $24.7M | $283.0M | ||
| Q1 25 | $84.0M | $121.0M | ||
| Q4 24 | $75.3M | $412.5M | ||
| Q3 24 | $7.2M | $85.0M | ||
| Q2 24 | $-39.0M | $437.9M |
自由现金流率BTSGUHS
| Q1 26 | — | — | ||
| Q4 25 | 5.5% | 6.5% | ||
| Q3 25 | 2.8% | 3.4% | ||
| Q2 25 | 0.8% | 6.6% | ||
| Q1 25 | 2.9% | 3.0% | ||
| Q4 24 | 2.5% | 10.0% | ||
| Q3 24 | 0.2% | 2.1% | ||
| Q2 24 | -1.4% | 11.2% |
资本支出强度BTSGUHS
| Q1 26 | — | 4.8% | ||
| Q4 25 | 1.1% | 6.3% | ||
| Q3 25 | 0.5% | 5.1% | ||
| Q2 25 | 0.8% | 6.2% | ||
| Q1 25 | 0.6% | 5.8% | ||
| Q4 24 | 0.5% | 6.0% | ||
| Q3 24 | 0.7% | 6.3% | ||
| Q2 24 | 0.9% | 6.2% |
现金转化率BTSGUHS
| Q1 26 | — | 1.12× | ||
| Q4 25 | 3.00× | 1.29× | ||
| Q3 25 | 1.93× | 1.02× | ||
| Q2 25 | 1.74× | 1.55× | ||
| Q1 25 | 3.44× | 1.14× | ||
| Q4 24 | 5.66× | 1.98× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | -0.76× | 2.35× |
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% |
UHS
暂无分部数据
