vs
Concentra Group Holdings Parent, Inc.（CON）与明晟（MSCI）财务数据对比。点击上方公司名可切换其他公司
明晟的季度营收约是Concentra Group Holdings Parent, Inc.的1.5倍（$822.5M vs $539.1M），明晟净利率更高（34.6% vs 6.4%，领先28.2%），明晟自由现金流更多（$488.7M vs $98.5M）
Concentra是美国的职业医疗服务商，1979年成立于得克萨斯州阿马里洛，总部位于得克萨斯州艾迪生。业务覆盖美国47个州，运营627家职业医疗中心和410个雇主驻地现场诊所，美国每7起职业伤害案例中就有1起由该机构提供诊疗服务。
MSCI（明晟）是总部位于美国纽约的金融服务企业，为全球市场提供股票、固定收益、房地产指数、多资产组合分析工具及ESG、气候金融相关产品，旗下运营MSCI全球指数、MSCI新兴市场指数、MSCI全球所有国家（ACWI）指数等多款知名指数产品。
CON vs MSCI — 直观对比
营收规模更大
MSCI
是对方的1.5倍
$539.1M
净利率更高
MSCI
高出28.2%
6.4%
自由现金流更多
MSCI
多$390.2M
$98.5M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $539.1M | $822.5M |
| 净利润 | $34.7M | $284.7M |
| 毛利率 | — | — |
| 营业利润率 | 12.9% | 56.4% |
| 净利率 | 6.4% | 34.6% |
| 营收同比 | — | 10.6% |
| 净利润同比 | — | -6.8% |
| 每股收益（稀释后） | $0.27 | $3.81 |
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CONMSCI
| Q4 25 | $539.1M | $822.5M | ||
| Q3 25 | $572.8M | $793.4M | ||
| Q2 25 | $550.8M | $772.7M | ||
| Q1 25 | $500.8M | $745.8M | ||
| Q4 24 | — | $743.5M | ||
| Q3 24 | $489.6M | $724.7M | ||
| Q2 24 | $477.9M | $707.9M | ||
| Q1 24 | — | $680.0M |
净利润CONMSCI
| Q4 25 | $34.7M | $284.7M | ||
| Q3 25 | $48.3M | $325.4M | ||
| Q2 25 | $44.6M | $303.6M | ||
| Q1 25 | $38.9M | $288.6M | ||
| Q4 24 | — | $305.5M | ||
| Q3 24 | $44.3M | $280.9M | ||
| Q2 24 | $51.7M | $266.8M | ||
| Q1 24 | — | $256.0M |
营业利润率CONMSCI
| Q4 25 | 12.9% | 56.4% | ||
| Q3 25 | 16.5% | 56.4% | ||
| Q2 25 | 16.3% | 55.0% | ||
| Q1 25 | 16.0% | 50.6% | ||
| Q4 24 | — | 54.5% | ||
| Q3 24 | 17.6% | 55.4% | ||
| Q2 24 | 17.6% | 54.0% | ||
| Q1 24 | — | 49.9% |
净利率CONMSCI
| Q4 25 | 6.4% | 34.6% | ||
| Q3 25 | 8.4% | 41.0% | ||
| Q2 25 | 8.1% | 39.3% | ||
| Q1 25 | 7.8% | 38.7% | ||
| Q4 24 | — | 41.1% | ||
| Q3 24 | 9.1% | 38.8% | ||
| Q2 24 | 10.8% | 37.7% | ||
| Q1 24 | — | 37.6% |
每股收益（稀释后）CONMSCI
| Q4 25 | $0.27 | $3.81 | ||
| Q3 25 | $0.38 | $4.25 | ||
| Q2 25 | $0.35 | $3.92 | ||
| Q1 25 | $0.30 | $3.71 | ||
| Q4 24 | — | $3.89 | ||
| Q3 24 | $0.37 | $3.57 | ||
| Q2 24 | $0.50 | $3.37 | ||
| Q1 24 | — | $3.22 |
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 | $79.9M | $515.3M |
| 总债务越低越好 | $1.6B | $6.2B |
| 股东权益账面价值 | $393.3M | $-2.7B |
| 总资产 | $2.9B | $5.7B |
| 负债/权益比越低杠杆越低 | 3.98× | — |
8季度趋势，按日历期对齐
现金及短期投资CONMSCI
| Q4 25 | $79.9M | $515.3M | ||
| Q3 25 | $49.9M | $400.1M | ||
| Q2 25 | $73.9M | $347.3M | ||
| Q1 25 | $52.1M | $360.7M | ||
| Q4 24 | — | $409.4M | ||
| Q3 24 | $136.8M | $501.0M | ||
| Q2 24 | $50.7M | $451.4M | ||
| Q1 24 | — | $519.3M |
总债务CONMSCI
| Q4 25 | $1.6B | $6.2B | ||
| Q3 25 | $1.6B | $5.5B | ||
| Q2 25 | $1.7B | $4.5B | ||
| Q1 25 | $1.6B | $4.5B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | $1.5B | $4.5B | ||
| Q2 24 | $3.0M | $4.5B | ||
| Q1 24 | — | $4.5B |
股东权益CONMSCI
| Q4 25 | $393.3M | $-2.7B | ||
| Q3 25 | $385.5M | $-1.9B | ||
| Q2 25 | $342.6M | $-886.2M | ||
| Q1 25 | $307.1M | $-958.6M | ||
| Q4 24 | — | $-940.0M | ||
| Q3 24 | $277.8M | $-751.0M | ||
| Q2 24 | $1.2B | $-734.5M | ||
| Q1 24 | — | $-650.5M |
总资产CONMSCI
| Q4 25 | $2.9B | $5.7B | ||
| Q3 25 | $2.8B | $5.4B | ||
| Q2 25 | $2.8B | $5.4B | ||
| Q1 25 | $2.7B | $5.3B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | $2.5B | $5.4B | ||
| Q2 24 | $2.4B | $5.5B | ||
| Q1 24 | — | $5.5B |
负债/权益比CONMSCI
| Q4 25 | 3.98× | — | ||
| Q3 25 | 4.15× | — | ||
| Q2 25 | 4.82× | — | ||
| Q1 25 | 5.27× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.30× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | — | — |
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 | $118.7M | $501.1M |
| 自由现金流经营现金流 - 资本支出 | $98.5M | $488.7M |
| 自由现金流率自由现金流/营收 | 18.3% | 59.4% |
| 资本支出强度资本支出/营收 | 3.7% | 1.5% |
| 现金转化率经营现金流/净利润 | 3.42× | 1.76× |
| 过去12个月自由现金流最近4个季度 | $197.1M | $1.5B |
8季度趋势，按日历期对齐
经营现金流CONMSCI
| Q4 25 | $118.7M | $501.1M | ||
| Q3 25 | $60.6M | $449.4M | ||
| Q2 25 | $88.4M | $336.1M | ||
| Q1 25 | $11.7M | $301.7M | ||
| Q4 24 | — | $430.6M | ||
| Q3 24 | $65.9M | $421.6M | ||
| Q2 24 | — | $349.2M | ||
| Q1 24 | — | $300.1M |
自由现金流CONMSCI
| Q4 25 | $98.5M | $488.7M | ||
| Q3 25 | $39.4M | $445.5M | ||
| Q2 25 | $63.2M | $324.7M | ||
| Q1 25 | $-4.0M | $290.2M | ||
| Q4 24 | — | $416.4M | ||
| Q3 24 | $50.8M | $415.0M | ||
| Q2 24 | — | $340.6M | ||
| Q1 24 | — | $295.9M |
自由现金流率CONMSCI
| Q4 25 | 18.3% | 59.4% | ||
| Q3 25 | 6.9% | 56.2% | ||
| Q2 25 | 11.5% | 42.0% | ||
| Q1 25 | -0.8% | 38.9% | ||
| Q4 24 | — | 56.0% | ||
| Q3 24 | 10.4% | 57.3% | ||
| Q2 24 | — | 48.1% | ||
| Q1 24 | — | 43.5% |
资本支出强度CONMSCI
| Q4 25 | 3.7% | 1.5% | ||
| Q3 25 | 3.7% | 0.5% | ||
| Q2 25 | 4.6% | 1.5% | ||
| Q1 25 | 3.1% | 1.5% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | 3.1% | 0.9% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 0.6% |
现金转化率CONMSCI
| Q4 25 | 3.42× | 1.76× | ||
| Q3 25 | 1.26× | 1.38× | ||
| Q2 25 | 1.98× | 1.11× | ||
| Q1 25 | 0.30× | 1.05× | ||
| Q4 24 | — | 1.41× | ||
| Q3 24 | 1.49× | 1.50× | ||
| Q2 24 | — | 1.31× | ||
| Q1 24 | — | 1.17× |
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
CON
| Occupational Health Center Workers Compensation | $328.5M | 61% |
| Occupational Health Center Employer Services | $151.9M | 28% |
| Onsite Health Clinics | $36.2M | 7% |
| Other Businesses | $12.3M | 2% |
| Occupational Health Center Consumer Health | $8.1M | 2% |
| Occupational Health Center Other | $2.1M | 0% |
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
