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Centene Corporation（CNC）与达维塔（DVA）财务数据对比。点击上方公司名可切换其他公司
Centene Corporation的季度营收约是达维塔的12.4倍（$44.7B vs $3.6B），达维塔净利率更高（6.5% vs -2.5%，领先8.9%），Centene Corporation同比增速更快（23.2% vs 12.3%），过去两年Centene Corporation的营收复合增速更高（10.9% vs 6.6%）
Centene Corporation是总部位于美国大圣路易斯地区的营利性医疗企业，主营业务为政府资助医保项目及私人保险计划提供中介服务，2025年位列《财富》美国500强榜单第23名。
达维塔是美国肾脏透析服务提供商，在美国运营2675家门诊中心，服务20.08万名患者；同时在其他11个国家布局367家门诊中心，服务4.94万名患者。公司主要服务终末期肾病患者，这类患者除非接受捐肾移植，否则通常需要终生每周接受三次透析治疗。
CNC vs DVA — 直观对比
营收规模更大
CNC
是对方的12.4倍
$3.6B
营收增速更快
CNC
高出10.9%
12.3%
净利率更高
DVA
高出8.9%
-2.5%
两年增速更快
CNC
近两年复合增速
6.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $44.7B | $3.6B |
| 净利润 | $-1.1B | $234.2M |
| 毛利率 | 5.7% | — |
| 营业利润率 | -3.9% | 15.5% |
| 净利率 | -2.5% | 6.5% |
| 营收同比 | 23.2% | 12.3% |
| 净利润同比 | -489.0% | 43.8% |
| 每股收益（稀释后） | $-2.15 | $3.22 |
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CNCDVA
| Q1 26 | — | $3.6B | ||
| Q4 25 | $44.7B | $3.6B | ||
| Q3 25 | $44.9B | $3.4B | ||
| Q2 25 | $42.5B | $3.4B | ||
| Q1 25 | $42.5B | $3.2B | ||
| Q4 24 | $36.3B | $3.3B | ||
| Q3 24 | $36.9B | $3.3B | ||
| Q2 24 | $36.0B | $3.2B |
净利润CNCDVA
| Q1 26 | — | $234.2M | ||
| Q4 25 | $-1.1B | $234.2M | ||
| Q3 25 | $-6.6B | $150.3M | ||
| Q2 25 | $-253.0M | $199.3M | ||
| Q1 25 | $1.3B | $162.9M | ||
| Q4 24 | $283.0M | $259.3M | ||
| Q3 24 | $713.0M | $214.7M | ||
| Q2 24 | $1.1B | $222.7M |
毛利率CNCDVA
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | — | ||
| Q3 25 | 7.5% | — | ||
| Q2 25 | 7.1% | — | ||
| Q1 25 | 12.4% | — | ||
| Q4 24 | 10.5% | — | ||
| Q3 24 | 10.9% | — | ||
| Q2 24 | 12.6% | — |
营业利润率CNCDVA
| Q1 26 | — | 15.5% | ||
| Q4 25 | -3.9% | 15.5% | ||
| Q3 25 | -15.5% | 14.8% | ||
| Q2 25 | -1.1% | 15.9% | ||
| Q1 25 | 3.6% | 13.6% | ||
| Q4 24 | 0.5% | 17.2% | ||
| Q3 24 | 1.8% | 16.4% | ||
| Q2 24 | 3.4% | 15.9% |
净利率CNCDVA
| Q1 26 | — | 6.5% | ||
| Q4 25 | -2.5% | 6.5% | ||
| Q3 25 | -14.8% | 4.4% | ||
| Q2 25 | -0.6% | 5.9% | ||
| Q1 25 | 3.1% | 5.1% | ||
| Q4 24 | 0.8% | 7.9% | ||
| Q3 24 | 1.9% | 6.6% | ||
| Q2 24 | 3.2% | 7.0% |
每股收益（稀释后）CNCDVA
| Q1 26 | — | $3.22 | ||
| Q4 25 | $-2.15 | $3.22 | ||
| Q3 25 | $-13.50 | $2.04 | ||
| Q2 25 | $-0.51 | $2.58 | ||
| Q1 25 | $2.63 | $2.00 | ||
| Q4 24 | $0.63 | $3.08 | ||
| Q3 24 | $1.36 | $2.50 | ||
| Q2 24 | $2.16 | $2.50 |
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 | $20.3B | $700.7M |
| 总债务越低越好 | $17.5B | $10.2B |
| 股东权益账面价值 | $20.0B | $-651.1M |
| 总资产 | $76.7B | $17.5B |
| 负债/权益比越低杠杆越低 | 0.88× | — |
8季度趋势，按日历期对齐
现金及短期投资CNCDVA
| Q1 26 | — | $700.7M | ||
| Q4 25 | $20.3B | $700.7M | ||
| Q3 25 | $19.2B | $736.5M | ||
| Q2 25 | $17.3B | $739.4M | ||
| Q1 25 | $17.3B | $511.9M | ||
| Q4 24 | $16.7B | $846.0M | ||
| Q3 24 | $17.6B | $1.1B | ||
| Q2 24 | $20.2B | $437.2M |
总债务CNCDVA
| Q1 26 | — | $10.2B | ||
| Q4 25 | $17.5B | $10.2B | ||
| Q3 25 | — | $10.2B | ||
| Q2 25 | — | $10.1B | ||
| Q1 25 | — | $9.6B | ||
| Q4 24 | $18.6B | $9.2B | ||
| Q3 24 | — | $9.3B | ||
| Q2 24 | — | $8.5B |
股东权益CNCDVA
| Q1 26 | — | $-651.1M | ||
| Q4 25 | $20.0B | $-651.1M | ||
| Q3 25 | $20.9B | $-571.9M | ||
| Q2 25 | $27.4B | $-369.6M | ||
| Q1 25 | $27.9B | $-267.1M | ||
| Q4 24 | $26.4B | $121.1M | ||
| Q3 24 | $27.3B | $386.7M | ||
| Q2 24 | $27.4B | $632.9M |
总资产CNCDVA
| Q1 26 | — | $17.5B | ||
| Q4 25 | $76.7B | $17.5B | ||
| Q3 25 | $82.1B | $17.6B | ||
| Q2 25 | $86.4B | $17.5B | ||
| Q1 25 | $87.0B | $17.1B | ||
| Q4 24 | $82.4B | $17.3B | ||
| Q3 24 | $82.4B | $17.5B | ||
| Q2 24 | $83.1B | $17.0B |
负债/权益比CNCDVA
| Q1 26 | — | — | ||
| Q4 25 | 0.88× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.71× | 75.76× | ||
| Q3 24 | — | 23.95× | ||
| Q2 24 | — | 13.35× |
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 | $437.0M | — |
| 自由现金流经营现金流 - 资本支出 | $224.0M | — |
| 自由现金流率自由现金流/营收 | 0.5% | — |
| 资本支出强度资本支出/营收 | 0.5% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $4.3B | — |
8季度趋势，按日历期对齐
经营现金流CNCDVA
| Q1 26 | — | — | ||
| Q4 25 | $437.0M | $540.7M | ||
| Q3 25 | $1.4B | $841.5M | ||
| Q2 25 | $1.8B | $324.2M | ||
| Q1 25 | $1.5B | $180.0M | ||
| Q4 24 | $-587.0M | $547.6M | ||
| Q3 24 | $-978.0M | $810.4M | ||
| Q2 24 | $2.2B | $798.8M |
自由现金流CNCDVA
| Q1 26 | — | — | ||
| Q4 25 | $224.0M | $395.3M | ||
| Q3 25 | $1.1B | $675.4M | ||
| Q2 25 | $1.6B | $203.1M | ||
| Q1 25 | $1.4B | $36.8M | ||
| Q4 24 | $-741.0M | $377.0M | ||
| Q3 24 | $-1.1B | $671.4M | ||
| Q2 24 | $2.0B | $674.1M |
自由现金流率CNCDVA
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 10.9% | ||
| Q3 25 | 2.6% | 19.7% | ||
| Q2 25 | 3.7% | 6.0% | ||
| Q1 25 | 3.2% | 1.1% | ||
| Q4 24 | -2.0% | 11.4% | ||
| Q3 24 | -3.1% | 20.6% | ||
| Q2 24 | 5.5% | 21.2% |
资本支出强度CNCDVA
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 4.0% | ||
| Q3 25 | 0.5% | 4.9% | ||
| Q2 25 | 0.5% | 3.6% | ||
| Q1 25 | 0.3% | 4.4% | ||
| Q4 24 | 0.4% | 5.2% | ||
| Q3 24 | 0.4% | 4.3% | ||
| Q2 24 | 0.5% | 3.9% |
现金转化率CNCDVA
| Q1 26 | — | — | ||
| Q4 25 | — | 2.31× | ||
| Q3 25 | — | 5.60× | ||
| Q2 25 | — | 1.63× | ||
| Q1 25 | 1.15× | 1.10× | ||
| Q4 24 | -2.07× | 2.11× | ||
| Q3 24 | -1.37× | 3.77× | ||
| Q2 24 | 1.90× | 3.59× |
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
CNC
| Total Premium And Service | $23.0B | 52% |
| Commercial Segment | $10.8B | 24% |
| Medicare Segment | $9.6B | 21% |
| Services | $749.0M | 2% |
DVA
暂无分部数据
