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柯蒂斯-莱特（CW）与Encompass Health Corp（EHC）财务数据对比。点击上方公司名可切换其他公司
Encompass Health Corp的季度营收约是柯蒂斯-莱特的1.6倍（$1.5B vs $947.0M），柯蒂斯-莱特净利率更高（14.5% vs 9.5%，领先5.0%），柯蒂斯-莱特同比增速更快（14.9% vs 9.9%），柯蒂斯-莱特自由现金流更多（$315.1M vs $116.7M），过去两年柯蒂斯-莱特的营收复合增速更高（15.2% vs 8.3%）
柯蒂斯-莱特公司是总部位于美国北卡罗来纳州戴维森的制造与服务提供商，在美国内外均设有工厂及业务网点。公司1929年由柯蒂斯、莱特及多家供应商合并成立，成立之初即为美国最大航空企业，二战期间为美军生产了超14.2万台航空发动机。
Encompass Health Corp前身为Amcare及HealthSouth，总部位于美国阿拉巴马州伯明翰，是美国规模最大的住院康复服务提供商，在39个州及波多黎各拥有173家住院康复医院，为中风、神经系统疾病、心肺病症、脑损伤等患者提供专业康复诊疗服务。
CW vs EHC — 直观对比
营收规模更大
EHC
是对方的1.6倍
$947.0M
营收增速更快
CW
高出4.9%
9.9%
净利率更高
CW
高出5.0%
9.5%
自由现金流更多
CW
多$198.4M
$116.7M
两年增速更快
CW
近两年复合增速
8.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $947.0M | $1.5B |
| 净利润 | $137.0M | $146.1M |
| 毛利率 | 37.5% | — |
| 营业利润率 | 19.2% | 16.7% |
| 净利率 | 14.5% | 9.5% |
| 营收同比 | 14.9% | 9.9% |
| 净利润同比 | 16.2% | 20.8% |
| 每股收益（稀释后） | $3.69 | $1.43 |
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CWEHC
| Q4 25 | $947.0M | $1.5B | ||
| Q3 25 | $869.2M | $1.5B | ||
| Q2 25 | $876.6M | $1.5B | ||
| Q1 25 | $805.6M | $1.5B | ||
| Q4 24 | $824.3M | $1.4B | ||
| Q3 24 | $798.9M | $1.4B | ||
| Q2 24 | $784.8M | $1.3B | ||
| Q1 24 | $713.2M | $1.3B |
净利润CWEHC
| Q4 25 | $137.0M | $146.1M | ||
| Q3 25 | $124.8M | $126.5M | ||
| Q2 25 | $121.1M | $142.1M | ||
| Q1 25 | $101.3M | $151.5M | ||
| Q4 24 | $117.9M | $120.9M | ||
| Q3 24 | $111.2M | $108.2M | ||
| Q2 24 | $99.5M | $114.1M | ||
| Q1 24 | $76.5M | $112.5M |
毛利率CWEHC
| Q4 25 | 37.5% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 37.2% | — | ||
| Q1 25 | 36.3% | — | ||
| Q4 24 | 38.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 36.2% | — | ||
| Q1 24 | 35.6% | — |
营业利润率CWEHC
| Q4 25 | 19.2% | 16.7% | ||
| Q3 25 | 19.1% | 14.9% | ||
| Q2 25 | 17.8% | 16.2% | ||
| Q1 25 | 16.0% | 16.4% | ||
| Q4 24 | 18.8% | 14.3% | ||
| Q3 24 | 18.1% | 13.6% | ||
| Q2 24 | 16.4% | 14.3% | ||
| Q1 24 | 14.0% | 13.6% |
净利率CWEHC
| Q4 25 | 14.5% | 9.5% | ||
| Q3 25 | 14.4% | 8.6% | ||
| Q2 25 | 13.8% | 9.7% | ||
| Q1 25 | 12.6% | 10.4% | ||
| Q4 24 | 14.3% | 8.6% | ||
| Q3 24 | 13.9% | 8.0% | ||
| Q2 24 | 12.7% | 8.8% | ||
| Q1 24 | 10.7% | 8.5% |
每股收益（稀释后）CWEHC
| Q4 25 | $3.69 | $1.43 | ||
| Q3 25 | $3.31 | $1.24 | ||
| Q2 25 | $3.19 | $1.39 | ||
| Q1 25 | $2.68 | $1.48 | ||
| Q4 24 | $3.09 | $1.18 | ||
| Q3 24 | $2.89 | $1.06 | ||
| Q2 24 | $2.58 | $1.12 | ||
| Q1 24 | $1.99 | $1.10 |
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 | — | $72.2M |
| 总债务越低越好 | $957.9M | $2.4B |
| 股东权益账面价值 | $2.5B | $2.4B |
| 总资产 | $5.2B | $7.1B |
| 负债/权益比越低杠杆越低 | 0.38× | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资CWEHC
| Q4 25 | — | $72.2M | ||
| Q3 25 | — | $48.7M | ||
| Q2 25 | — | $99.1M | ||
| Q1 25 | $226.5M | $95.8M | ||
| Q4 24 | $385.0M | $85.4M | ||
| Q3 24 | — | $147.8M | ||
| Q2 24 | — | $154.4M | ||
| Q1 24 | $338.0M | $134.4M |
总债务CWEHC
| Q4 25 | $957.9M | $2.4B | ||
| Q3 25 | $968.6M | $2.4B | ||
| Q2 25 | $958.4M | $2.3B | ||
| Q1 25 | $958.6M | $2.3B | ||
| Q4 24 | $1.0B | $2.4B | ||
| Q3 24 | $1.0B | $2.3B | ||
| Q2 24 | $1.0B | $2.7B | ||
| Q1 24 | $1.1B | $2.7B |
股东权益CWEHC
| Q4 25 | $2.5B | $2.4B | ||
| Q3 25 | $2.5B | $2.4B | ||
| Q2 25 | $2.7B | $2.3B | ||
| Q1 25 | $2.6B | $2.2B | ||
| Q4 24 | $2.4B | $2.1B | ||
| Q3 24 | $2.5B | $2.0B | ||
| Q2 24 | $2.5B | $1.8B | ||
| Q1 24 | $2.4B | $1.7B |
总资产CWEHC
| Q4 25 | $5.2B | $7.1B | ||
| Q3 25 | $5.1B | $6.9B | ||
| Q2 25 | $5.2B | $6.8B | ||
| Q1 25 | $5.0B | $6.6B | ||
| Q4 24 | $5.0B | $6.5B | ||
| Q3 24 | $4.9B | $6.5B | ||
| Q2 24 | $4.7B | $6.4B | ||
| Q1 24 | $4.6B | $6.2B |
负债/权益比CWEHC
| Q4 25 | 0.38× | 1.00× | ||
| Q3 25 | 0.38× | 1.01× | ||
| Q2 25 | 0.35× | 1.02× | ||
| Q1 25 | 0.37× | 1.08× | ||
| Q4 24 | 0.43× | 1.14× | ||
| Q3 24 | 0.42× | 1.20× | ||
| Q2 24 | 0.43× | 1.46× | ||
| Q1 24 | 0.44× | 1.54× |
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 | $352.7M | $346.0M |
| 自由现金流经营现金流 - 资本支出 | $315.1M | $116.7M |
| 自由现金流率自由现金流/营收 | 33.3% | 7.6% |
| 资本支出强度资本支出/营收 | 4.0% | 14.8% |
| 现金转化率经营现金流/净利润 | 2.57× | 2.37× |
| 过去12个月自由现金流最近4个季度 | $553.7M | $439.2M |
8季度趋势，按日历期对齐
经营现金流CWEHC
| Q4 25 | $352.7M | $346.0M | ||
| Q3 25 | $192.8M | $270.8M | ||
| Q2 25 | $136.6M | $270.2M | ||
| Q1 25 | $-38.8M | $288.6M | ||
| Q4 24 | $301.3M | $278.8M | ||
| Q3 24 | $177.3M | $267.8M | ||
| Q2 24 | $111.3M | $217.4M | ||
| Q1 24 | $-45.6M | $238.8M |
自由现金流CWEHC
| Q4 25 | $315.1M | $116.7M | ||
| Q3 25 | $175.9M | $83.7M | ||
| Q2 25 | $117.2M | $113.3M | ||
| Q1 25 | $-54.5M | $125.5M | ||
| Q4 24 | $278.0M | $80.1M | ||
| Q3 24 | $162.7M | $120.3M | ||
| Q2 24 | $100.3M | $60.5M | ||
| Q1 24 | $-57.7M | $99.4M |
自由现金流率CWEHC
| Q4 25 | 33.3% | 7.6% | ||
| Q3 25 | 20.2% | 5.7% | ||
| Q2 25 | 13.4% | 7.8% | ||
| Q1 25 | -6.8% | 8.6% | ||
| Q4 24 | 33.7% | 5.7% | ||
| Q3 24 | 20.4% | 8.9% | ||
| Q2 24 | 12.8% | 4.6% | ||
| Q1 24 | -8.1% | 7.6% |
资本支出强度CWEHC
| Q4 25 | 4.0% | 14.8% | ||
| Q3 25 | 1.9% | 12.7% | ||
| Q2 25 | 2.2% | 10.8% | ||
| Q1 25 | 2.0% | 11.2% | ||
| Q4 24 | 2.8% | 14.1% | ||
| Q3 24 | 1.8% | 10.9% | ||
| Q2 24 | 1.4% | 12.1% | ||
| Q1 24 | 1.7% | 10.6% |
现金转化率CWEHC
| Q4 25 | 2.57× | 2.37× | ||
| Q3 25 | 1.54× | 2.14× | ||
| Q2 25 | 1.13× | 1.90× | ||
| Q1 25 | -0.38× | 1.90× | ||
| Q4 24 | 2.56× | 2.31× | ||
| Q3 24 | 1.59× | 2.48× | ||
| Q2 24 | 1.12× | 1.91× | ||
| Q1 24 | -0.60× | 2.12× |
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
CW
| Naval Power | $417.4M | 44% |
| Defense Electronics | $268.3M | 28% |
| Aerospace Industrial | $262.4M | 28% |
EHC
| Medicare | $1.0B | 66% |
| Medicare Advantage | $243.1M | 16% |
| Managed Care | $160.7M | 10% |
| Medicaid | $47.0M | 3% |
| Other Income Source | $44.8M | 3% |
| Other Thirdparty Payors | $11.2M | 1% |
| Workers Compensation | $7.6M | 0% |
| Patients | $4.6M | 0% |
