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信诺（CI）与徕博科（LH）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徕博科的20.6倍（$72.5B vs $3.5B），徕博科净利率更高（4.7% vs 1.8%，领先2.9%），信诺同比增速更快（10.4% vs 5.6%），过去两年信诺的营收复合增速更高（12.5% vs 5.2%）
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。
徕博科（Labcorp）是全球领先的生命科学与诊断检测企业，面向医疗机构、制药企业和个人患者提供全面的临床检验服务、药物研发支持及医疗检测解决方案，依托先进科研经验与创新技术输出准确可落地的健康洞察，助力临床决策、加快新药研发，提升全球患者健康水平。
CI vs LH — 直观对比
营收规模更大
CI
是对方的20.6倍
$3.5B
营收增速更快
CI
高出4.8%
5.6%
净利率更高
LH
高出2.9%
1.8%
两年增速更快
CI
近两年复合增速
5.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $72.5B | $3.5B |
| 净利润 | $1.3B | $164.7M |
| 毛利率 | 20.3% | 28.2% |
| 营业利润率 | 3.2% | 7.6% |
| 净利率 | 1.8% | 4.7% |
| 营收同比 | 10.4% | 5.6% |
| 净利润同比 | -17.1% | 14.9% |
| 每股收益（稀释后） | $4.64 | $1.98 |
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CILH
| Q4 25 | $72.5B | $3.5B | ||
| Q3 25 | $69.7B | $3.6B | ||
| Q2 25 | $67.2B | $3.5B | ||
| Q1 25 | $65.5B | $3.3B | ||
| Q4 24 | $65.6B | $3.3B | ||
| Q3 24 | $63.7B | $3.3B | ||
| Q2 24 | $60.5B | $3.2B | ||
| Q1 24 | $57.3B | $3.2B |
净利润CILH
| Q4 25 | $1.3B | $164.7M | ||
| Q3 25 | $2.0B | $261.1M | ||
| Q2 25 | $1.6B | $237.9M | ||
| Q1 25 | $1.4B | $212.8M | ||
| Q4 24 | $1.5B | $143.4M | ||
| Q3 24 | $825.0M | $169.3M | ||
| Q2 24 | $1.6B | $205.3M | ||
| Q1 24 | $-212.0M | $228.0M |
毛利率CILH
| Q4 25 | 20.3% | 28.2% | ||
| Q3 25 | 20.4% | 28.8% | ||
| Q2 25 | 20.7% | 29.7% | ||
| Q1 25 | 26.1% | 28.3% | ||
| Q4 24 | 25.3% | 26.9% | ||
| Q3 24 | 25.3% | 27.6% | ||
| Q2 24 | 26.5% | 28.8% | ||
| Q1 24 | 27.6% | 28.2% |
营业利润率CILH
| Q4 25 | 3.2% | 7.6% | ||
| Q3 25 | 3.7% | 11.1% | ||
| Q2 25 | 3.4% | 11.2% | ||
| Q1 25 | 3.0% | 9.7% | ||
| Q4 24 | 3.3% | 6.5% | ||
| Q3 24 | 4.0% | 7.7% | ||
| Q2 24 | 4.0% | 9.2% | ||
| Q1 24 | 3.9% | 10.1% |
净利率CILH
| Q4 25 | 1.8% | 4.7% | ||
| Q3 25 | 2.8% | 7.3% | ||
| Q2 25 | 2.4% | 6.7% | ||
| Q1 25 | 2.2% | 6.4% | ||
| Q4 24 | 2.3% | 4.3% | ||
| Q3 24 | 1.3% | 5.2% | ||
| Q2 24 | 2.7% | 6.4% | ||
| Q1 24 | -0.4% | 7.2% |
每股收益（稀释后）CILH
| Q4 25 | $4.64 | $1.98 | ||
| Q3 25 | $6.98 | $3.12 | ||
| Q2 25 | $5.71 | $2.84 | ||
| Q1 25 | $4.85 | $2.52 | ||
| Q4 24 | $5.01 | $1.72 | ||
| Q3 24 | $2.63 | $2.00 | ||
| Q2 24 | $5.45 | $2.43 | ||
| Q1 24 | $-0.97 | $2.69 |
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 | $532.3M |
| 总债务越低越好 | $30.9B | — |
| 股东权益账面价值 | $41.7B | $8.6B |
| 总资产 | $157.9B | $18.4B |
| 负债/权益比越低杠杆越低 | 0.74× | — |
8季度趋势，按日历期对齐
现金及短期投资CILH
| Q4 25 | $8.7B | $532.3M | ||
| Q3 25 | $6.9B | $598.1M | ||
| Q2 25 | $5.1B | $647.3M | ||
| Q1 25 | $9.1B | $369.4M | ||
| Q4 24 | $8.2B | $1.5B | ||
| Q3 24 | $6.8B | $1.5B | ||
| Q2 24 | $7.9B | $265.1M | ||
| Q1 24 | $9.5B | $99.3M |
总债务CILH
| Q4 25 | $30.9B | — | ||
| Q3 25 | $30.9B | — | ||
| Q2 25 | $26.5B | — | ||
| Q1 25 | $26.5B | — | ||
| Q4 24 | $28.9B | — | ||
| Q3 24 | $30.2B | — | ||
| Q2 24 | $30.2B | — | ||
| Q1 24 | $31.1B | — |
股东权益CILH
| Q4 25 | $41.7B | $8.6B | ||
| Q3 25 | $41.8B | $8.7B | ||
| Q2 25 | $40.2B | $8.5B | ||
| Q1 25 | $40.2B | $8.3B | ||
| Q4 24 | $41.0B | $8.1B | ||
| Q3 24 | $42.1B | $8.2B | ||
| Q2 24 | $41.3B | $8.0B | ||
| Q1 24 | $41.2B | $8.0B |
总资产CILH
| Q4 25 | $157.9B | $18.4B | ||
| Q3 25 | $157.9B | $18.3B | ||
| Q2 25 | $151.7B | $18.1B | ||
| Q1 25 | $150.7B | $17.6B | ||
| Q4 24 | $155.9B | $18.4B | ||
| Q3 24 | $157.6B | $18.6B | ||
| Q2 24 | $155.4B | $16.7B | ||
| Q1 24 | $153.1B | $16.5B |
负债/权益比CILH
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.74× | — | ||
| Q2 25 | 0.66× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.71× | — | ||
| Q3 24 | 0.72× | — | ||
| Q2 24 | 0.73× | — | ||
| Q1 24 | 0.75× | — |
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 | $614.2M |
| 自由现金流经营现金流 - 资本支出 | — | $490.3M |
| 自由现金流率自由现金流/营收 | — | 13.9% |
| 资本支出强度资本支出/营收 | — | 3.5% |
| 现金转化率经营现金流/净利润 | 4.83× | 3.73× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流CILH
| Q4 25 | $6.1B | $614.2M | ||
| Q3 25 | $3.4B | $387.2M | ||
| Q2 25 | $-1.9B | $620.6M | ||
| Q1 25 | $1.9B | $18.5M | ||
| Q4 24 | $5.2B | $777.2M | ||
| Q3 24 | $46.0M | $277.3M | ||
| Q2 24 | $265.0M | $561.1M | ||
| Q1 24 | $4.8B | $-29.8M |
自由现金流CILH
| Q4 25 | — | $490.3M | ||
| Q3 25 | — | $280.5M | ||
| Q2 25 | — | $542.7M | ||
| Q1 25 | — | $-107.5M | ||
| Q4 24 | — | $665.1M | ||
| Q3 24 | — | $161.5M | ||
| Q2 24 | — | $432.9M | ||
| Q1 24 | — | $-163.6M |
自由现金流率CILH
| Q4 25 | — | 13.9% | ||
| Q3 25 | — | 7.9% | ||
| Q2 25 | — | 15.4% | ||
| Q1 25 | — | -3.2% | ||
| Q4 24 | — | 20.0% | ||
| Q3 24 | — | 4.9% | ||
| Q2 24 | — | 13.4% | ||
| Q1 24 | — | -5.2% |
资本支出强度CILH
| Q4 25 | — | 3.5% | ||
| Q3 25 | — | 3.0% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | 3.5% | ||
| Q2 24 | — | 4.0% | ||
| Q1 24 | — | 4.2% |
现金转化率CILH
| Q4 25 | 4.83× | 3.73× | ||
| Q3 25 | 1.73× | 1.48× | ||
| Q2 25 | -1.16× | 2.61× | ||
| Q1 25 | 1.36× | 0.09× | ||
| Q4 24 | 3.39× | 5.42× | ||
| Q3 24 | 0.06× | 1.64× | ||
| Q2 24 | 0.16× | 2.73× | ||
| Q1 24 | — | -0.13× |
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% |
LH
| Diagnostics | $2.7B | 78% |
| Biopharma Laboratory Services | $793.0M | 23% |
