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信诺（CI）与家得宝（HD）财务数据对比。点击上方公司名可切换其他公司
信诺的季度营收约是家得宝的1.8倍（$72.5B vs $41.4B），家得宝净利率更高（8.7% vs 1.8%，领先7.0%），信诺同比增速更快（10.4% vs 2.8%），过去两年信诺的营收复合增速更高（12.5% vs 9.0%）
信诺集团是总部位于美国康涅狄格州布卢姆菲尔德的跨国营利性医疗管理及保险企业。旗下保险子公司主营医疗、牙科、失能、人寿、意外保险及相关产品服务，多数产品通过雇主及其他团体渠道销售。
家得宝是美国跨国家装零售巨头，也是美国规模最大的家装零售商，主营工具、建材、家电等产品销售，同时提供燃油、运输租赁等服务。公司总部位于佐治亚州科布县，通信地址设于亚特兰大，2021年员工数达49.06万，营收超1510亿美元。
CI vs HD — 直观对比
营收规模更大
CI
是对方的1.8倍
$41.4B
营收增速更快
CI
高出7.6%
2.8%
净利率更高
HD
高出7.0%
1.8%
两年增速更快
CI
近两年复合增速
9.0%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $72.5B | $41.4B |
| 净利润 | $1.3B | $3.6B |
| 毛利率 | 20.3% | 33.4% |
| 营业利润率 | 3.2% | 12.9% |
| 净利率 | 1.8% | 8.7% |
| 营收同比 | 10.4% | 2.8% |
| 净利润同比 | -17.1% | -1.3% |
| 每股收益（稀释后） | $4.64 | $3.62 |
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CIHD
| Q4 25 | $72.5B | $41.4B | ||
| Q3 25 | $69.7B | $45.3B | ||
| Q2 25 | $67.2B | $39.9B | ||
| Q1 25 | $65.5B | $39.7B | ||
| Q4 24 | $65.6B | $40.2B | ||
| Q3 24 | $63.7B | $43.2B | ||
| Q2 24 | $60.5B | $36.4B | ||
| Q1 24 | $57.3B | $34.8B |
净利润CIHD
| Q4 25 | $1.3B | $3.6B | ||
| Q3 25 | $2.0B | $4.6B | ||
| Q2 25 | $1.6B | $3.4B | ||
| Q1 25 | $1.4B | $3.0B | ||
| Q4 24 | $1.5B | $3.6B | ||
| Q3 24 | $825.0M | $4.6B | ||
| Q2 24 | $1.6B | $3.6B | ||
| Q1 24 | $-212.0M | $2.8B |
毛利率CIHD
| Q4 25 | 20.3% | 33.4% | ||
| Q3 25 | 20.4% | 33.4% | ||
| Q2 25 | 20.7% | 33.8% | ||
| Q1 25 | 26.1% | 32.8% | ||
| Q4 24 | 25.3% | 33.4% | ||
| Q3 24 | 25.3% | 33.4% | ||
| Q2 24 | 26.5% | 34.1% | ||
| Q1 24 | 27.6% | 33.1% |
营业利润率CIHD
| Q4 25 | 3.2% | 12.9% | ||
| Q3 25 | 3.7% | 14.5% | ||
| Q2 25 | 3.4% | 12.9% | ||
| Q1 25 | 3.0% | 11.3% | ||
| Q4 24 | 3.3% | 13.5% | ||
| Q3 24 | 4.0% | 15.1% | ||
| Q2 24 | 4.0% | 13.9% | ||
| Q1 24 | 3.9% | 11.9% |
净利率CIHD
| Q4 25 | 1.8% | 8.7% | ||
| Q3 25 | 2.8% | 10.1% | ||
| Q2 25 | 2.4% | 8.6% | ||
| Q1 25 | 2.2% | 7.5% | ||
| Q4 24 | 2.3% | 9.1% | ||
| Q3 24 | 1.3% | 10.6% | ||
| Q2 24 | 2.7% | 9.9% | ||
| Q1 24 | -0.4% | 8.1% |
每股收益（稀释后）CIHD
| Q4 25 | $4.64 | $3.62 | ||
| Q3 25 | $6.98 | $4.58 | ||
| Q2 25 | $5.71 | $3.45 | ||
| Q1 25 | $4.85 | $3.01 | ||
| Q4 24 | $5.01 | $3.67 | ||
| Q3 24 | $2.63 | $4.60 | ||
| Q2 24 | $5.45 | $3.63 | ||
| Q1 24 | $-0.97 | $2.83 |
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 | $8.7B | $1.7B |
| 总债务越低越好 | $30.9B | $46.3B |
| 股东权益账面价值 | $41.7B | $12.1B |
| 总资产 | $157.9B | $106.3B |
| 负债/权益比越低杠杆越低 | 0.74× | 3.82× |
8季度趋势，按日历期对齐
现金及短期投资CIHD
| Q4 25 | $8.7B | $1.7B | ||
| Q3 25 | $6.9B | $2.8B | ||
| Q2 25 | $5.1B | $1.4B | ||
| Q1 25 | $9.1B | $1.7B | ||
| Q4 24 | $8.2B | $1.5B | ||
| Q3 24 | $6.8B | $1.6B | ||
| Q2 24 | $7.9B | $4.3B | ||
| Q1 24 | $9.5B | $3.8B |
总债务CIHD
| Q4 25 | $30.9B | $46.3B | ||
| Q3 25 | $30.9B | $45.9B | ||
| Q2 25 | $26.5B | $47.3B | ||
| Q1 25 | $26.5B | $48.5B | ||
| Q4 24 | $28.9B | $50.1B | ||
| Q3 24 | $30.2B | $51.9B | ||
| Q2 24 | $30.2B | $42.1B | ||
| Q1 24 | $31.1B | $42.7B |
股东权益CIHD
| Q4 25 | $41.7B | $12.1B | ||
| Q3 25 | $41.8B | $10.7B | ||
| Q2 25 | $40.2B | $8.0B | ||
| Q1 25 | $40.2B | $6.6B | ||
| Q4 24 | $41.0B | $5.8B | ||
| Q3 24 | $42.1B | $4.4B | ||
| Q2 24 | $41.3B | $1.8B | ||
| Q1 24 | $41.2B | $1.0B |
总资产CIHD
| Q4 25 | $157.9B | $106.3B | ||
| Q3 25 | $157.9B | $100.0B | ||
| Q2 25 | $151.7B | $99.2B | ||
| Q1 25 | $150.7B | $96.1B | ||
| Q4 24 | $155.9B | $97.3B | ||
| Q3 24 | $157.6B | $96.8B | ||
| Q2 24 | $155.4B | $79.2B | ||
| Q1 24 | $153.1B | $76.5B |
负债/权益比CIHD
| Q4 25 | 0.74× | 3.82× | ||
| Q3 25 | 0.74× | 4.31× | ||
| Q2 25 | 0.66× | 5.95× | ||
| Q1 25 | 0.66× | 7.30× | ||
| Q4 24 | 0.71× | 8.65× | ||
| Q3 24 | 0.72× | 11.74× | ||
| Q2 24 | 0.73× | 23.11× | ||
| Q1 24 | 0.75× | 40.94× |
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 | $6.1B | $4.0B |
| 自由现金流经营现金流 - 资本支出 | — | $3.1B |
| 自由现金流率自由现金流/营收 | — | 7.5% |
| 资本支出强度资本支出/营收 | — | 2.2% |
| 现金转化率经营现金流/净利润 | 4.83× | 1.11× |
| 过去12个月自由现金流最近4个季度 | — | $13.9B |
8季度趋势，按日历期对齐
经营现金流CIHD
| Q4 25 | $6.1B | $4.0B | ||
| Q3 25 | $3.4B | $4.6B | ||
| Q2 25 | $-1.9B | $4.3B | ||
| Q1 25 | $1.9B | $4.7B | ||
| Q4 24 | $5.2B | $4.2B | ||
| Q3 24 | $46.0M | $5.4B | ||
| Q2 24 | $265.0M | $5.5B | ||
| Q1 24 | $4.8B | $4.7B |
自由现金流CIHD
| Q4 25 | — | $3.1B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.5B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | $4.7B | ||
| Q2 24 | — | $4.7B | ||
| Q1 24 | — | $3.9B |
自由现金流率CIHD
| Q4 25 | — | 7.5% | ||
| Q3 25 | — | 8.2% | ||
| Q2 25 | — | 8.8% | ||
| Q1 25 | — | 9.0% | ||
| Q4 24 | — | 8.5% | ||
| Q3 24 | — | 10.9% | ||
| Q2 24 | — | 12.8% | ||
| Q1 24 | — | 11.1% |
资本支出强度CIHD
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 2.0% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 2.0% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | 2.5% |
现金转化率CIHD
| Q4 25 | 4.83× | 1.11× | ||
| Q3 25 | 1.73× | 1.02× | ||
| Q2 25 | -1.16× | 1.26× | ||
| Q1 25 | 1.36× | 1.56× | ||
| Q4 24 | 3.39× | 1.16× | ||
| Q3 24 | 0.06× | 1.19× | ||
| Q2 24 | 0.16× | 1.53× | ||
| Q1 24 | — | 1.69× |
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
CI
| Network Pharmacy | $34.3B | 47% |
| Home Delivery And Specialty | $21.1B | 29% |
| Cigna Healthcare | $9.4B | 13% |
| Services | $4.5B | 6% |
| Other Pharmacy | $3.4B | 5% |
| Service Other | $144.0M | 0% |
HD
| Major Product Line Building Materials | $13.6B | 33% |
| Major Product Line Dcor | $12.9B | 31% |
| Major Product Line Hardlines | $10.9B | 26% |
| Other | $1.5B | 4% |
| Services | $1.5B | 4% |
| GMS Inc | $892.0M | 2% |
