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Concentra Group Holdings Parent, Inc.（CON）与罗塞塔石碑（STEP）财务数据对比。点击上方公司名可切换其他公司
罗塞塔石碑的季度营收约是Concentra Group Holdings Parent, Inc.的1.1倍（$586.5M vs $539.1M），Concentra Group Holdings Parent, Inc.净利率更高（6.4% vs -21.0%，领先27.5%），Concentra Group Holdings Parent, Inc.自由现金流更多（$98.5M vs $26.7M）
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。
罗塞塔石碑是美国教育科技软件企业，开发语言学习、读写能力提升及脑训练类软件，旗下语言学习产品知名度极高。2013年公司收购Livemocha、Lexia Learning等品牌拓展教育科技业务矩阵，2021年正式成为IXL Learning的子公司。
CON vs STEP — 直观对比
营收规模更大
STEP
是对方的1.1倍
$539.1M
净利率更高
CON
高出27.5%
-21.0%
自由现金流更多
CON
多$71.8M
$26.7M
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $539.1M | $586.5M |
| 净利润 | $34.7M | $-123.5M |
| 毛利率 | — | — |
| 营业利润率 | 12.9% | -33.2% |
| 净利率 | 6.4% | -21.0% |
| 营收同比 | — | 73.0% |
| 净利润同比 | — | 35.7% |
| 每股收益（稀释后） | $0.27 | $-1.55 |
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CONSTEP
| Q4 25 | $539.1M | $586.5M | ||
| Q3 25 | $572.8M | $454.2M | ||
| Q2 25 | $550.8M | $364.3M | ||
| Q1 25 | $500.8M | $377.7M | ||
| Q4 24 | — | $339.0M | ||
| Q3 24 | $489.6M | $271.7M | ||
| Q2 24 | $477.9M | $186.4M | ||
| Q1 24 | — | $356.8M |
净利润CONSTEP
| Q4 25 | $34.7M | $-123.5M | ||
| Q3 25 | $48.3M | $-366.1M | ||
| Q2 25 | $44.6M | $-38.4M | ||
| Q1 25 | $38.9M | $-18.5M | ||
| Q4 24 | — | $-192.0M | ||
| Q3 24 | $44.3M | $17.6M | ||
| Q2 24 | $51.7M | $13.3M | ||
| Q1 24 | — | $30.8M |
营业利润率CONSTEP
| Q4 25 | 12.9% | -33.2% | ||
| Q3 25 | 16.5% | -148.8% | ||
| Q2 25 | 16.3% | -5.6% | ||
| Q1 25 | 16.0% | 2.6% | ||
| Q4 24 | — | -101.7% | ||
| Q3 24 | 17.6% | 21.3% | ||
| Q2 24 | 17.6% | 29.4% | ||
| Q1 24 | — | 26.5% |
净利率CONSTEP
| Q4 25 | 6.4% | -21.0% | ||
| Q3 25 | 8.4% | -80.6% | ||
| Q2 25 | 8.1% | -10.5% | ||
| Q1 25 | 7.8% | -4.9% | ||
| Q4 24 | — | -56.6% | ||
| Q3 24 | 9.1% | 6.5% | ||
| Q2 24 | 10.8% | 7.2% | ||
| Q1 24 | — | 8.6% |
每股收益（稀释后）CONSTEP
| Q4 25 | $0.27 | $-1.55 | ||
| Q3 25 | $0.38 | $-4.66 | ||
| Q2 25 | $0.35 | $-0.49 | ||
| Q1 25 | $0.30 | $-0.37 | ||
| Q4 24 | — | $-2.61 | ||
| Q3 24 | $0.37 | $0.26 | ||
| Q2 24 | $0.50 | $0.20 | ||
| Q1 24 | — | $0.47 |
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 | — |
| 总债务越低越好 | $1.6B | $270.2M |
| 股东权益账面价值 | $393.3M | $-378.8M |
| 总资产 | $2.9B | $5.2B |
| 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CONSTEP
| Q4 25 | $79.9M | — | ||
| Q3 25 | $49.9M | — | ||
| Q2 25 | $73.9M | — | ||
| Q1 25 | $52.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $136.8M | — | ||
| Q2 24 | $50.7M | — | ||
| Q1 24 | — | — |
总债务CONSTEP
| Q4 25 | $1.6B | $270.2M | ||
| Q3 25 | $1.6B | $269.9M | ||
| Q2 25 | $1.7B | $269.6M | ||
| Q1 25 | $1.6B | $269.3M | ||
| Q4 24 | — | $168.9M | ||
| Q3 24 | $1.5B | $172.3M | ||
| Q2 24 | $3.0M | $172.1M | ||
| Q1 24 | — | $148.8M |
股东权益CONSTEP
| Q4 25 | $393.3M | $-378.8M | ||
| Q3 25 | $385.5M | $-233.5M | ||
| Q2 25 | $342.6M | $153.9M | ||
| Q1 25 | $307.1M | $179.4M | ||
| Q4 24 | — | $209.8M | ||
| Q3 24 | $277.8M | $397.5M | ||
| Q2 24 | $1.2B | $366.9M | ||
| Q1 24 | — | $324.5M |
总资产CONSTEP
| Q4 25 | $2.9B | $5.2B | ||
| Q3 25 | $2.8B | $5.3B | ||
| Q2 25 | $2.8B | $4.8B | ||
| Q1 25 | $2.7B | $4.6B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | $2.5B | $4.0B | ||
| Q2 24 | $2.4B | $3.8B | ||
| Q1 24 | — | $3.8B |
负债/权益比CONSTEP
| Q4 25 | 3.98× | — | ||
| Q3 25 | 4.15× | — | ||
| Q2 25 | 4.82× | 1.75× | ||
| Q1 25 | 5.27× | 1.50× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | 5.30× | 0.43× | ||
| Q2 24 | 0.00× | 0.47× | ||
| Q1 24 | — | 0.46× |
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 | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $98.5M | $26.7M |
| 自由现金流率自由现金流/营收 | 18.3% | 4.6% |
| 资本支出强度资本支出/营收 | 3.7% | 0.1% |
| 现金转化率经营现金流/净利润 | 3.42× | — |
| 过去12个月自由现金流最近4个季度 | $197.1M | $18.6M |
8季度趋势，按日历期对齐
经营现金流CONSTEP
| Q4 25 | $118.7M | $27.2M | ||
| Q3 25 | $60.6M | $16.2M | ||
| Q2 25 | $88.4M | $46.3M | ||
| Q1 25 | $11.7M | $-66.5M | ||
| Q4 24 | — | $27.6M | ||
| Q3 24 | $65.9M | $53.7M | ||
| Q2 24 | — | $50.2M | ||
| Q1 24 | — | $7.6M |
自由现金流CONSTEP
| Q4 25 | $98.5M | $26.7M | ||
| Q3 25 | $39.4M | $15.9M | ||
| Q2 25 | $63.2M | $45.2M | ||
| Q1 25 | $-4.0M | $-69.2M | ||
| Q4 24 | — | $27.0M | ||
| Q3 24 | $50.8M | $52.4M | ||
| Q2 24 | — | $49.6M | ||
| Q1 24 | — | $6.7M |
自由现金流率CONSTEP
| Q4 25 | 18.3% | 4.6% | ||
| Q3 25 | 6.9% | 3.5% | ||
| Q2 25 | 11.5% | 12.4% | ||
| Q1 25 | -0.8% | -18.3% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | 10.4% | 19.3% | ||
| Q2 24 | — | 26.6% | ||
| Q1 24 | — | 1.9% |
资本支出强度CONSTEP
| Q4 25 | 3.7% | 0.1% | ||
| Q3 25 | 3.7% | 0.1% | ||
| Q2 25 | 4.6% | 0.3% | ||
| Q1 25 | 3.1% | 0.7% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | 3.1% | 0.5% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.3% |
现金转化率CONSTEP
| Q4 25 | 3.42× | — | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 1.98× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.49× | 3.05× | ||
| Q2 24 | — | 3.76× | ||
| Q1 24 | — | 0.25× |
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% |
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
