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康美（CNMD）与TransMedics Group, Inc.（TMDX）财务数据对比。点击上方公司名可切换其他公司
康美的季度营收约是TransMedics Group, Inc.的2.3倍（$373.2M vs $160.8M）。TransMedics Group, Inc.同比增速更快（32.2% vs 7.9%）。康美自由现金流更多（$41.2M vs $19.0M）。过去两年TransMedics Group, Inc.的营收复合增速更高（28.8% vs 9.3%）
康美公司是一家上市的美国医疗设备制造商，主营骨科、腹腔镜、普通外科相关医疗器械以及各类患者护理产品，总部现位于佛罗里达州拉戈，2022年7月前设于纽约州尤蒂卡。该品牌秉持以人为本的文化，以助力医疗合作方及其服务的患者为核心使命，在美国和墨西哥都设有生产基地。
TransMedics Group, Inc.是一家专注于器官移植领域的医疗科技企业，核心产品器官护理系统可在运输过程中维持捐献器官的活性，提升心、肺、肝、肾移植手术的成功率，服务覆盖北美、欧洲及亚太地区的移植中心与器官获取组织。
CNMD vs TMDX — 直观对比
营收规模更大
CNMD
是对方的2.3倍
$160.8M
营收增速更快
TMDX
高出24.3%
7.9%
自由现金流更多
CNMD
多$22.2M
$19.0M
两年增速更快
TMDX
近两年复合增速
9.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $373.2M | $160.8M |
| 净利润 | — | $105.4M |
| 毛利率 | 58.5% | 58.1% |
| 营业利润率 | 9.8% | 13.2% |
| 净利率 | — | 65.6% |
| 营收同比 | 7.9% | 32.2% |
| 净利润同比 | — | 1436.9% |
| 每股收益（稀释后） | $0.54 | $2.59 |
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CNMDTMDX
| Q4 25 | $373.2M | $160.8M | ||
| Q3 25 | $337.9M | $143.8M | ||
| Q2 25 | $342.3M | $157.4M | ||
| Q1 25 | $321.3M | $143.5M | ||
| Q4 24 | $345.9M | $121.6M | ||
| Q3 24 | $316.7M | $108.8M | ||
| Q2 24 | $332.1M | $114.3M | ||
| Q1 24 | $312.3M | $96.8M |
净利润CNMDTMDX
| Q4 25 | — | $105.4M | ||
| Q3 25 | $2.9M | $24.3M | ||
| Q2 25 | $21.4M | $34.9M | ||
| Q1 25 | $6.0M | $25.7M | ||
| Q4 24 | — | $6.9M | ||
| Q3 24 | $49.0M | $4.2M | ||
| Q2 24 | $30.0M | $12.2M | ||
| Q1 24 | $19.7M | $12.2M |
毛利率CNMDTMDX
| Q4 25 | 58.5% | 58.1% | ||
| Q3 25 | 49.2% | 58.8% | ||
| Q2 25 | 55.0% | 61.4% | ||
| Q1 25 | 55.3% | 61.5% | ||
| Q4 24 | 57.3% | 59.2% | ||
| Q3 24 | 56.5% | 55.9% | ||
| Q2 24 | 55.3% | 60.6% | ||
| Q1 24 | 55.1% | 61.9% |
营业利润率CNMDTMDX
| Q4 25 | 9.8% | 13.2% | ||
| Q3 25 | 3.5% | 16.2% | ||
| Q2 25 | 11.1% | 23.2% | ||
| Q1 25 | 5.0% | 19.1% | ||
| Q4 24 | 15.2% | 7.1% | ||
| Q3 24 | 20.7% | 3.6% | ||
| Q2 24 | 14.2% | 10.9% | ||
| Q1 24 | 11.2% | 12.8% |
净利率CNMDTMDX
| Q4 25 | — | 65.6% | ||
| Q3 25 | 0.8% | 16.9% | ||
| Q2 25 | 6.3% | 22.2% | ||
| Q1 25 | 1.9% | 17.9% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | 15.5% | 3.9% | ||
| Q2 24 | 9.0% | 10.7% | ||
| Q1 24 | 6.3% | 12.6% |
每股收益（稀释后）CNMDTMDX
| Q4 25 | $0.54 | $2.59 | ||
| Q3 25 | $0.09 | $0.66 | ||
| Q2 25 | $0.69 | $0.92 | ||
| Q1 25 | $0.19 | $0.70 | ||
| Q4 24 | $1.09 | $0.19 | ||
| Q3 24 | $1.57 | $0.12 | ||
| Q2 24 | $0.96 | $0.35 | ||
| Q1 24 | $0.63 | $0.35 |
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 | — | — |
| 总债务越低越好 | $834.2M | — |
| 股东权益账面价值 | $1.0B | $473.1M |
| 总资产 | $2.3B | $1.1B |
| 负债/权益比越低杠杆越低 | 0.81× | — |
8季度趋势，按日历期对齐
现金及短期投资CNMDTMDX
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $330.1M | ||
| Q2 24 | — | $362.8M | ||
| Q1 24 | — | $350.2M |
总债务CNMDTMDX
| Q4 25 | $834.2M | — | ||
| Q3 25 | $853.0M | — | ||
| Q2 25 | $881.1M | — | ||
| Q1 25 | $891.4M | — | ||
| Q4 24 | $905.1M | — | ||
| Q3 24 | $940.1M | — | ||
| Q2 24 | $965.2M | — | ||
| Q1 24 | $990.1M | — |
股东权益CNMDTMDX
| Q4 25 | $1.0B | $473.1M | ||
| Q3 25 | $1.0B | $355.2M | ||
| Q2 25 | $1.0B | $318.1M | ||
| Q1 25 | $977.6M | $266.3M | ||
| Q4 24 | $962.7M | $228.6M | ||
| Q3 24 | $932.9M | $209.9M | ||
| Q2 24 | $881.8M | $189.9M | ||
| Q1 24 | $854.7M | $159.5M |
总资产CNMDTMDX
| Q4 25 | $2.3B | $1.1B | ||
| Q3 25 | $2.3B | $946.0M | ||
| Q2 25 | $2.3B | $890.5M | ||
| Q1 25 | $2.3B | $837.5M | ||
| Q4 24 | $2.3B | $804.1M | ||
| Q3 24 | $2.3B | $785.6M | ||
| Q2 24 | $2.3B | $758.6M | ||
| Q1 24 | $2.3B | $723.8M |
负债/权益比CNMDTMDX
| Q4 25 | 0.81× | — | ||
| Q3 25 | 0.85× | — | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | 0.94× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.09× | — | ||
| Q1 24 | 1.16× | — |
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 | $46.3M | $34.5M |
| 自由现金流经营现金流 - 资本支出 | $41.2M | $19.0M |
| 自由现金流率自由现金流/营收 | 11.0% | 11.8% |
| 资本支出强度资本支出/营收 | 1.4% | 9.7% |
| 现金转化率经营现金流/净利润 | — | 0.33× |
| 过去12个月自由现金流最近4个季度 | $150.9M | $133.6M |
8季度趋势，按日历期对齐
经营现金流CNMDTMDX
| Q4 25 | $46.3M | $34.5M | ||
| Q3 25 | $53.7M | $69.6M | ||
| Q2 25 | $29.1M | $91.6M | ||
| Q1 25 | $41.5M | $-2.9M | ||
| Q4 24 | $43.3M | $19.7M | ||
| Q3 24 | $51.2M | $6.9M | ||
| Q2 24 | $43.3M | $25.7M | ||
| Q1 24 | $29.1M | $-3.4M |
自由现金流CNMDTMDX
| Q4 25 | $41.2M | $19.0M | ||
| Q3 25 | $48.5M | $61.9M | ||
| Q2 25 | $23.4M | $82.5M | ||
| Q1 25 | $37.8M | $-29.9M | ||
| Q4 24 | $39.3M | $6.1M | ||
| Q3 24 | $47.8M | $-41.3M | ||
| Q2 24 | $39.7M | $2.0M | ||
| Q1 24 | $27.1M | $-47.6M |
自由现金流率CNMDTMDX
| Q4 25 | 11.0% | 11.8% | ||
| Q3 25 | 14.4% | 43.1% | ||
| Q2 25 | 6.8% | 52.4% | ||
| Q1 25 | 11.8% | -20.8% | ||
| Q4 24 | 11.4% | 5.0% | ||
| Q3 24 | 15.1% | -38.0% | ||
| Q2 24 | 12.0% | 1.7% | ||
| Q1 24 | 8.7% | -49.2% |
资本支出强度CNMDTMDX
| Q4 25 | 1.4% | 9.7% | ||
| Q3 25 | 1.5% | 5.3% | ||
| Q2 25 | 1.7% | 5.8% | ||
| Q1 25 | 1.2% | 18.8% | ||
| Q4 24 | 1.2% | 11.2% | ||
| Q3 24 | 1.1% | 44.3% | ||
| Q2 24 | 1.1% | 20.8% | ||
| Q1 24 | 0.7% | 45.6% |
现金转化率CNMDTMDX
| Q4 25 | — | 0.33× | ||
| Q3 25 | 18.78× | 2.86× | ||
| Q2 25 | 1.36× | 2.62× | ||
| Q1 25 | 6.88× | -0.11× | ||
| Q4 24 | — | 2.87× | ||
| Q3 24 | 1.05× | 1.63× | ||
| Q2 24 | 1.44× | 2.11× | ||
| Q1 24 | 1.48× | -0.28× |
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
CNMD
| Transferred At Point In Time | $358.5M | 96% |
| Transferred Over Time | $14.7M | 4% |
TMDX
| Liver Product | $127.0M | 79% |
| Heart Product | $26.0M | 16% |
| Other | $5.9M | 4% |
| Lung Product | $1.9M | 1% |
