vs
Ceribell, Inc.（CBLL）与LivaNova PLC（LIVN）财务数据对比。点击上方公司名可切换其他公司
LivaNova PLC的季度营收约是Ceribell, Inc.的14.6倍（$360.9M vs $24.8M）。LivaNova PLC净利率更高（8.6% vs -54.6%，领先63.1%）。LivaNova PLC自由现金流更多（$50.2M vs $-11.0M）
Ceribell, Inc.是一家专注于神经诊断领域的医疗科技企业，主打便携式快速脑电图检测设备，可为急症、重症护理场景提供便捷的癫痫发作监测解决方案，核心市场覆盖北美地区，目前正逐步推进全球化业务布局。
LivaNova PLC是一家深耕医疗设备领域的企业，总部位于英国，核心业务为研发心脏外科及神经调控类医疗设备。该公司由美国Cyberonics公司与意大利Sorin公司于2015年以27亿美元对价合并成立，目前在纳斯达克挂牌交易，股票代码为LIVN。
CBLL vs LIVN — 直观对比
营收规模更大
LIVN
是对方的14.6倍
$24.8M
净利率更高
LIVN
高出63.1%
-54.6%
自由现金流更多
LIVN
多$61.1M
$-11.0M
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $24.8M | $360.9M |
| 净利润 | $-13.5M | $30.9M |
| 毛利率 | 87.3% | 65.2% |
| 营业利润率 | -58.9% | 11.8% |
| 净利率 | -54.6% | 8.6% |
| 营收同比 | — | 12.1% |
| 净利润同比 | — | -44.7% |
| 每股收益（稀释后） | $-0.35 | $0.57 |
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CBLLLIVN
| Q4 25 | $24.8M | $360.9M | ||
| Q3 25 | $22.6M | $357.8M | ||
| Q2 25 | $21.2M | $352.5M | ||
| Q1 25 | $20.5M | $316.9M | ||
| Q4 24 | — | $321.8M | ||
| Q3 24 | $17.2M | $318.1M | ||
| Q2 24 | — | $318.6M | ||
| Q1 24 | — | $294.9M |
净利润CBLLLIVN
| Q4 25 | $-13.5M | $30.9M | ||
| Q3 25 | $-13.5M | $26.8M | ||
| Q2 25 | $-13.6M | $27.2M | ||
| Q1 25 | $-12.8M | $-327.3M | ||
| Q4 24 | — | $55.9M | ||
| Q3 24 | $-10.4M | $33.0M | ||
| Q2 24 | — | $16.3M | ||
| Q1 24 | — | $-41.9M |
毛利率CBLLLIVN
| Q4 25 | 87.3% | 65.2% | ||
| Q3 25 | 88.3% | 68.4% | ||
| Q2 25 | 88.1% | 67.8% | ||
| Q1 25 | 87.9% | 69.7% | ||
| Q4 24 | — | 68.2% | ||
| Q3 24 | 87.3% | 70.8% | ||
| Q2 24 | — | 68.7% | ||
| Q1 24 | — | 70.3% |
营业利润率CBLLLIVN
| Q4 25 | -58.9% | 11.8% | ||
| Q3 25 | -64.8% | 15.1% | ||
| Q2 25 | -70.5% | 15.4% | ||
| Q1 25 | -69.3% | 15.3% | ||
| Q4 24 | — | 11.5% | ||
| Q3 24 | -57.8% | 11.2% | ||
| Q2 24 | — | 12.6% | ||
| Q1 24 | — | 5.5% |
净利率CBLLLIVN
| Q4 25 | -54.6% | 8.6% | ||
| Q3 25 | -59.6% | 7.5% | ||
| Q2 25 | -64.4% | 7.7% | ||
| Q1 25 | -62.4% | -103.3% | ||
| Q4 24 | — | 17.4% | ||
| Q3 24 | -60.6% | 10.4% | ||
| Q2 24 | — | 5.1% | ||
| Q1 24 | — | -14.2% |
每股收益（稀释后）CBLLLIVN
| Q4 25 | $-0.35 | $0.57 | ||
| Q3 25 | $-0.37 | $0.49 | ||
| Q2 25 | $-0.38 | $0.50 | ||
| Q1 25 | $-0.36 | $-6.01 | ||
| Q4 24 | — | $1.04 | ||
| Q3 24 | $-1.85 | $0.60 | ||
| Q2 24 | — | $0.30 | ||
| Q1 24 | — | $-0.78 |
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 | $159.3M | $635.6M |
| 总债务越低越好 | — | $376.1M |
| 股东权益账面价值 | $155.3M | $1.2B |
| 总资产 | $195.8M | $2.6B |
| 负债/权益比越低杠杆越低 | — | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资CBLLLIVN
| Q4 25 | $159.3M | $635.6M | ||
| Q3 25 | $168.5M | $646.1M | ||
| Q2 25 | $177.4M | $593.6M | ||
| Q1 25 | $182.7M | $738.4M | ||
| Q4 24 | — | $428.9M | ||
| Q3 24 | $14.1M | $346.4M | ||
| Q2 24 | — | $329.2M | ||
| Q1 24 | — | $309.2M |
总债务CBLLLIVN
| Q4 25 | — | $376.1M | ||
| Q3 25 | — | $434.5M | ||
| Q2 25 | — | $430.6M | ||
| Q1 25 | — | $628.2M | ||
| Q4 24 | — | $627.0M | ||
| Q3 24 | — | $625.5M | ||
| Q2 24 | — | $624.5M | ||
| Q1 24 | — | $623.8M |
股东权益CBLLLIVN
| Q4 25 | $155.3M | $1.2B | ||
| Q3 25 | $164.1M | $1.2B | ||
| Q2 25 | $172.2M | $1.1B | ||
| Q1 25 | $180.9M | $1.0B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $-136.0M | $1.3B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
总资产CBLLLIVN
| Q4 25 | $195.8M | $2.6B | ||
| Q3 25 | $199.5M | $2.6B | ||
| Q2 25 | $207.7M | $2.5B | ||
| Q1 25 | $213.5M | $2.6B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | $47.1M | $2.5B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | — | $2.5B |
负债/权益比CBLLLIVN
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 0.38× | ||
| Q2 25 | — | 0.38× | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.50× | ||
| Q1 24 | — | 0.51× |
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 | $-10.8M | $82.4M |
| 自由现金流经营现金流 - 资本支出 | $-11.0M | $50.2M |
| 自由现金流率自由现金流/营收 | -44.2% | 13.9% |
| 资本支出强度资本支出/营收 | 0.7% | 8.9% |
| 现金转化率经营现金流/净利润 | — | 2.67× |
| 过去12个月自由现金流最近4个季度 | $-41.6M | $173.3M |
8季度趋势，按日历期对齐
经营现金流CBLLLIVN
| Q4 25 | $-10.8M | $82.4M | ||
| Q3 25 | $-11.1M | $85.1M | ||
| Q2 25 | $-7.5M | $62.9M | ||
| Q1 25 | $-11.4M | $24.0M | ||
| Q4 24 | — | $78.7M | ||
| Q3 24 | — | $51.0M | ||
| Q2 24 | — | $43.4M | ||
| Q1 24 | — | $10.0M |
自由现金流CBLLLIVN
| Q4 25 | $-11.0M | $50.2M | ||
| Q3 25 | $-11.5M | $62.2M | ||
| Q2 25 | $-7.6M | $47.8M | ||
| Q1 25 | $-11.6M | $13.2M | ||
| Q4 24 | — | $68.3M | ||
| Q3 24 | — | $32.8M | ||
| Q2 24 | — | $31.2M | ||
| Q1 24 | — | $3.6M |
自由现金流率CBLLLIVN
| Q4 25 | -44.2% | 13.9% | ||
| Q3 25 | -50.8% | 17.4% | ||
| Q2 25 | -35.9% | 13.6% | ||
| Q1 25 | -56.4% | 4.2% | ||
| Q4 24 | — | 21.2% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 9.8% | ||
| Q1 24 | — | 1.2% |
资本支出强度CBLLLIVN
| Q4 25 | 0.7% | 8.9% | ||
| Q3 25 | 1.6% | 6.4% | ||
| Q2 25 | 0.3% | 4.3% | ||
| Q1 25 | 0.7% | 3.4% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 3.8% | ||
| Q1 24 | — | 2.2% |
现金转化率CBLLLIVN
| Q4 25 | — | 2.67× | ||
| Q3 25 | — | 3.18× | ||
| Q2 25 | — | 2.32× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.41× | ||
| Q3 24 | — | 1.55× | ||
| Q2 24 | — | 2.65× | ||
| 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
CBLL
| Products | $18.8M | 76% |
| Subscription | $6.0M | 24% |
LIVN
| Other | $169.4M | 47% |
| Neuromodulation Segment | $119.7M | 33% |
| Cardiopulmonary Segment | $71.8M | 20% |
