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Centene Corporation（CNC）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
Centene Corporation的季度营收约是Universal Health Services的9.9倍（$44.7B vs $4.5B），Universal Health Services净利率更高（8.0% vs -2.5%，领先10.4%），Centene Corporation同比增速更快（23.2% vs 8.2%），过去两年Centene Corporation的营收复合增速更高（10.9% vs 7.3%）
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。
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。
CNC vs UHS — 直观对比
营收规模更大
CNC
是对方的9.9倍
$4.5B
营收增速更快
CNC
高出15.0%
8.2%
净利率更高
UHS
高出10.4%
-2.5%
两年增速更快
CNC
近两年复合增速
7.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $44.7B | $4.5B |
| 净利润 | $-1.1B | $358.7M |
| 毛利率 | 5.7% | — |
| 营业利润率 | -3.9% | 11.2% |
| 净利率 | -2.5% | 8.0% |
| 营收同比 | 23.2% | 8.2% |
| 净利润同比 | -489.0% | 11.5% |
| 每股收益（稀释后） | $-2.15 | $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CNCUHS
| Q1 26 | — | $4.5B | ||
| Q4 25 | $44.7B | $4.5B | ||
| Q3 25 | $44.9B | $4.5B | ||
| Q2 25 | $42.5B | $4.3B | ||
| Q1 25 | $42.5B | $4.1B | ||
| Q4 24 | $36.3B | $4.1B | ||
| Q3 24 | $36.9B | $4.0B | ||
| Q2 24 | $36.0B | $3.9B |
净利润CNCUHS
| Q1 26 | — | $358.7M | ||
| Q4 25 | $-1.1B | $445.9M | ||
| Q3 25 | $-6.6B | $373.0M | ||
| Q2 25 | $-253.0M | $353.2M | ||
| Q1 25 | $1.3B | $316.7M | ||
| Q4 24 | $283.0M | $332.4M | ||
| Q3 24 | $713.0M | $258.7M | ||
| Q2 24 | $1.1B | $289.2M |
毛利率CNCUHS
| 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CNCUHS
| Q1 26 | — | 11.2% | ||
| Q4 25 | -3.9% | 11.5% | ||
| Q3 25 | -15.5% | 11.6% | ||
| Q2 25 | -1.1% | 11.7% | ||
| Q1 25 | 3.6% | 11.1% | ||
| Q4 24 | 0.5% | 11.5% | ||
| Q3 24 | 1.8% | 9.7% | ||
| Q2 24 | 3.4% | 11.2% |
净利率CNCUHS
| Q1 26 | — | 8.0% | ||
| Q4 25 | -2.5% | 9.9% | ||
| Q3 25 | -14.8% | 8.3% | ||
| Q2 25 | -0.6% | 8.2% | ||
| Q1 25 | 3.1% | 7.7% | ||
| Q4 24 | 0.8% | 8.1% | ||
| Q3 24 | 1.9% | 6.5% | ||
| Q2 24 | 3.2% | 7.4% |
每股收益（稀释后）CNCUHS
| Q1 26 | — | $5.65 | ||
| Q4 25 | $-2.15 | $7.01 | ||
| Q3 25 | $-13.50 | $5.86 | ||
| Q2 25 | $-0.51 | $5.43 | ||
| Q1 25 | $2.63 | $4.80 | ||
| Q4 24 | $0.63 | $4.94 | ||
| Q3 24 | $1.36 | $3.80 | ||
| Q2 24 | $2.16 | $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 | $20.3B | $119.0M |
| 总债务越低越好 | $17.5B | $4.7B |
| 股东权益账面价值 | $20.0B | $7.5B |
| 总资产 | $76.7B | $15.7B |
| 负债/权益比越低杠杆越低 | 0.88× | 0.63× |
8季度趋势，按日历期对齐
现金及短期投资CNCUHS
| Q1 26 | — | $119.0M | ||
| Q4 25 | $20.3B | $137.8M | ||
| Q3 25 | $19.2B | $112.9M | ||
| Q2 25 | $17.3B | $137.6M | ||
| Q1 25 | $17.3B | $126.8M | ||
| Q4 24 | $16.7B | $126.0M | ||
| Q3 24 | $17.6B | $106.1M | ||
| Q2 24 | $20.2B | $128.8M |
总债务CNCUHS
| Q1 26 | — | $4.7B | ||
| Q4 25 | $17.5B | $4.8B | ||
| Q3 25 | — | $4.7B | ||
| Q2 25 | — | $4.6B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | $18.6B | $4.5B | ||
| Q3 24 | — | $4.7B | ||
| Q2 24 | — | $4.5B |
股东权益CNCUHS
| Q1 26 | — | $7.5B | ||
| Q4 25 | $20.0B | $7.3B | ||
| Q3 25 | $20.9B | $7.2B | ||
| Q2 25 | $27.4B | $7.0B | ||
| Q1 25 | $27.9B | $6.8B | ||
| Q4 24 | $26.4B | $6.7B | ||
| Q3 24 | $27.3B | $6.6B | ||
| Q2 24 | $27.4B | $6.5B |
总资产CNCUHS
| Q1 26 | — | $15.7B | ||
| Q4 25 | $76.7B | $15.5B | ||
| Q3 25 | $82.1B | $15.3B | ||
| Q2 25 | $86.4B | $15.0B | ||
| Q1 25 | $87.0B | $14.9B | ||
| Q4 24 | $82.4B | $14.5B | ||
| Q3 24 | $82.4B | $14.4B | ||
| Q2 24 | $83.1B | $14.1B |
负债/权益比CNCUHS
| Q1 26 | — | 0.63× | ||
| Q4 25 | 0.88× | 0.65× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.68× | ||
| Q4 24 | 0.71× | 0.68× | ||
| Q3 24 | — | 0.71× | ||
| Q2 24 | — | 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 | $437.0M | $401.6M |
| 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% | 4.8% |
| 现金转化率经营现金流/净利润 | — | 1.12× |
| 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CNCUHS
| Q1 26 | — | $401.6M | ||
| Q4 25 | $437.0M | $574.7M | ||
| Q3 25 | $1.4B | $380.7M | ||
| Q2 25 | $1.8B | $549.0M | ||
| Q1 25 | $1.5B | $360.0M | ||
| Q4 24 | $-587.0M | $658.4M | ||
| Q3 24 | $-978.0M | $333.0M | ||
| Q2 24 | $2.2B | $679.3M |
自由现金流CNCUHS
| Q1 26 | — | — | ||
| Q4 25 | $224.0M | $293.5M | ||
| Q3 25 | $1.1B | $151.8M | ||
| Q2 25 | $1.6B | $283.0M | ||
| Q1 25 | $1.4B | $121.0M | ||
| Q4 24 | $-741.0M | $412.5M | ||
| Q3 24 | $-1.1B | $85.0M | ||
| Q2 24 | $2.0B | $437.9M |
自由现金流率CNCUHS
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 6.5% | ||
| Q3 25 | 2.6% | 3.4% | ||
| Q2 25 | 3.7% | 6.6% | ||
| Q1 25 | 3.2% | 3.0% | ||
| Q4 24 | -2.0% | 10.0% | ||
| Q3 24 | -3.1% | 2.1% | ||
| Q2 24 | 5.5% | 11.2% |
资本支出强度CNCUHS
| Q1 26 | — | 4.8% | ||
| Q4 25 | 0.5% | 6.3% | ||
| Q3 25 | 0.5% | 5.1% | ||
| Q2 25 | 0.5% | 6.2% | ||
| Q1 25 | 0.3% | 5.8% | ||
| Q4 24 | 0.4% | 6.0% | ||
| Q3 24 | 0.4% | 6.3% | ||
| Q2 24 | 0.5% | 6.2% |
现金转化率CNCUHS
| Q1 26 | — | 1.12× | ||
| Q4 25 | — | 1.29× | ||
| Q3 25 | — | 1.02× | ||
| Q2 25 | — | 1.55× | ||
| Q1 25 | 1.15× | 1.14× | ||
| Q4 24 | -2.07× | 1.98× | ||
| Q3 24 | -1.37× | 1.29× | ||
| Q2 24 | 1.90× | 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
CNC
| Total Premium And Service | $23.0B | 52% |
| Commercial Segment | $10.8B | 24% |
| Medicare Segment | $9.6B | 21% |
| Services | $749.0M | 2% |
UHS
暂无分部数据
