vs
COMMUNITY HEALTH SYSTEMS INC（CYH）与艺康（ECL）财务数据对比。点击上方公司名可切换其他公司
艺康的季度营收约是COMMUNITY HEALTH SYSTEMS INC的1.3倍（$4.1B vs $3.1B），艺康净利率更高（10.6% vs 3.5%，领先7.1%），艺康同比增速更快（10.0% vs -4.8%），过去两年艺康的营收复合增速更高（1.0% vs -0.5%）
社区卫生系统公司总部位于美国田纳西州富兰克林，是财富500强企业。按急症护理机构数量计算，该公司曾是美国最大的综合医院医疗服务提供商。2014年它旗下有约200家医院，到2021年机构数量缩减至约85家。
艺康（Ecolab）总部位于美国明尼苏达州圣保罗市，是全球领先的水处理、清洁消毒与卫生防护产品提供商，核心客户群体覆盖各领域商业机构与工业企业，可助力客户提升运营效率、保障公共卫生安全、实现可持续发展。
CYH vs ECL — 直观对比
营收规模更大
ECL
是对方的1.3倍
$3.1B
营收增速更快
ECL
高出14.9%
-4.8%
净利率更高
ECL
高出7.1%
3.5%
两年增速更快
ECL
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $4.1B |
| 净利润 | $110.0M | $432.6M |
| 毛利率 | 85.6% | — |
| 营业利润率 | 14.5% | 15.3% |
| 净利率 | 3.5% | 10.6% |
| 营收同比 | -4.8% | 10.0% |
| 净利润同比 | 254.9% | 1.3% |
| 每股收益（稀释后） | $0.82 | $1.52 |
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CYHECL
| Q2 26 | — | $4.1B | ||
| Q4 25 | $3.1B | $4.2B | ||
| Q3 25 | $3.1B | $4.2B | ||
| Q2 25 | $3.1B | $4.0B | ||
| Q1 25 | $3.2B | $3.7B | ||
| Q4 24 | $3.3B | $4.0B | ||
| Q3 24 | $3.1B | $4.0B | ||
| Q2 24 | $3.1B | $4.0B |
净利润CYHECL
| Q2 26 | — | $432.6M | ||
| Q4 25 | $110.0M | $563.9M | ||
| Q3 25 | $130.0M | $585.0M | ||
| Q2 25 | $282.0M | $524.2M | ||
| Q1 25 | $-13.0M | $402.5M | ||
| Q4 24 | $-71.0M | $472.9M | ||
| Q3 24 | $-391.0M | $736.5M | ||
| Q2 24 | $-13.0M | $490.9M |
毛利率CYHECL
| Q2 26 | — | — | ||
| Q4 25 | 85.6% | 44.0% | ||
| Q3 25 | 85.1% | 44.8% | ||
| Q2 25 | 85.0% | 44.8% | ||
| Q1 25 | 84.5% | 44.2% | ||
| Q4 24 | 84.5% | 43.3% | ||
| Q3 24 | 84.8% | 43.4% | ||
| Q2 24 | 84.6% | 43.8% |
营业利润率CYHECL
| Q2 26 | — | 15.3% | ||
| Q4 25 | 14.5% | 17.0% | ||
| Q3 25 | 7.9% | 18.3% | ||
| Q2 25 | 16.3% | 17.6% | ||
| Q1 25 | 9.0% | 15.0% | ||
| Q4 24 | 8.5% | 14.6% | ||
| Q3 24 | -6.6% | 26.1% | ||
| Q2 24 | 7.6% | 16.5% |
净利率CYHECL
| Q2 26 | — | 10.6% | ||
| Q4 25 | 3.5% | 13.4% | ||
| Q3 25 | 4.2% | 14.0% | ||
| Q2 25 | 9.0% | 13.0% | ||
| Q1 25 | -0.4% | 10.9% | ||
| Q4 24 | -2.2% | 11.8% | ||
| Q3 24 | -12.7% | 18.4% | ||
| Q2 24 | -0.4% | 12.3% |
每股收益（稀释后）CYHECL
| Q2 26 | — | $1.52 | ||
| Q4 25 | $0.82 | $1.98 | ||
| Q3 25 | $0.96 | $2.05 | ||
| Q2 25 | $2.09 | $1.84 | ||
| Q1 25 | $-0.10 | $1.41 | ||
| Q4 24 | $-0.53 | $1.65 | ||
| Q3 24 | $-2.95 | $2.58 | ||
| Q2 24 | $-0.10 | $1.71 |
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 | $260.0M | $519.8K |
| 总债务越低越好 | $10.4B | $8.5M |
| 股东权益账面价值 | $-1.4B | $10.0M |
| 总资产 | $13.2B | $25.0M |
| 负债/权益比越低杠杆越低 | — | 0.85× |
8季度趋势，按日历期对齐
现金及短期投资CYHECL
| Q2 26 | — | $519.8K | ||
| Q4 25 | $260.0M | $646.2M | ||
| Q3 25 | $123.0M | $2.0B | ||
| Q2 25 | $456.0M | $1.9B | ||
| Q1 25 | $431.0M | $1.2B | ||
| Q4 24 | $37.0M | $1.3B | ||
| Q3 24 | $33.0M | $1.3B | ||
| Q2 24 | $39.0M | $384.0M |
总债务CYHECL
| Q2 26 | — | $8.5M | ||
| Q4 25 | $10.4B | $7.4B | ||
| Q3 25 | — | $8.1B | ||
| Q2 25 | — | $7.5B | ||
| Q1 25 | — | $7.0B | ||
| Q4 24 | $11.5B | $6.9B | ||
| Q3 24 | — | $7.0B | ||
| Q2 24 | — | $7.5B |
股东权益CYHECL
| Q2 26 | — | $10.0M | ||
| Q4 25 | $-1.4B | $9.8B | ||
| Q3 25 | $-1.5B | $9.7B | ||
| Q2 25 | $-1.6B | $9.3B | ||
| Q1 25 | $-1.9B | $8.9B | ||
| Q4 24 | $-1.9B | $8.8B | ||
| Q3 24 | $-1.8B | $8.5B | ||
| Q2 24 | $-1.4B | $8.3B |
总资产CYHECL
| Q2 26 | — | $25.0M | ||
| Q4 25 | $13.2B | $24.7B | ||
| Q3 25 | $13.2B | $23.9B | ||
| Q2 25 | $13.6B | $23.7B | ||
| Q1 25 | $13.9B | $22.4B | ||
| Q4 24 | $14.1B | $22.4B | ||
| Q3 24 | $13.9B | $22.1B | ||
| Q2 24 | $14.4B | $21.5B |
负债/权益比CYHECL
| Q2 26 | — | 0.85× | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.83× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | 0.79× | ||
| Q4 24 | — | 0.79× | ||
| Q3 24 | — | 0.82× | ||
| Q2 24 | — | 0.91× |
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 | $266.0M | — |
| 自由现金流经营现金流 - 资本支出 | $172.0M | — |
| 自由现金流率自由现金流/营收 | 5.5% | — |
| 资本支出强度资本支出/营收 | 3.0% | — |
| 现金转化率经营现金流/净利润 | 2.42× | — |
| 过去12个月自由现金流最近4个季度 | $208.0M | — |
8季度趋势，按日历期对齐
经营现金流CYHECL
| Q2 26 | — | — | ||
| Q4 25 | $266.0M | $1.1B | ||
| Q3 25 | $69.0M | $791.3M | ||
| Q2 25 | $88.0M | $701.8M | ||
| Q1 25 | $120.0M | $369.4M | ||
| Q4 24 | $216.0M | $766.7M | ||
| Q3 24 | $67.0M | $786.7M | ||
| Q2 24 | $101.0M | $611.1M |
自由现金流CYHECL
| Q2 26 | — | — | ||
| Q4 25 | $172.0M | $758.0M | ||
| Q3 25 | $4.0M | $529.7M | ||
| Q2 25 | $-3.0M | $485.1M | ||
| Q1 25 | $35.0M | $131.5M | ||
| Q4 24 | $107.0M | $407.0M | ||
| Q3 24 | $-3.0M | $550.3M | ||
| Q2 24 | $13.0M | $414.2M |
自由现金流率CYHECL
| Q2 26 | — | — | ||
| Q4 25 | 5.5% | 18.1% | ||
| Q3 25 | 0.1% | 12.7% | ||
| Q2 25 | -0.1% | 12.1% | ||
| Q1 25 | 1.1% | 3.6% | ||
| Q4 24 | 3.3% | 10.2% | ||
| Q3 24 | -0.1% | 13.8% | ||
| Q2 24 | 0.4% | 10.4% |
资本支出强度CYHECL
| Q2 26 | — | — | ||
| Q4 25 | 3.0% | 7.9% | ||
| Q3 25 | 2.1% | 6.3% | ||
| Q2 25 | 2.9% | 5.4% | ||
| Q1 25 | 2.7% | 6.4% | ||
| Q4 24 | 3.3% | 9.0% | ||
| Q3 24 | 2.3% | 5.9% | ||
| Q2 24 | 2.8% | 4.9% |
现金转化率CYHECL
| Q2 26 | — | — | ||
| Q4 25 | 2.42× | 1.93× | ||
| Q3 25 | 0.53× | 1.35× | ||
| Q2 25 | 0.31× | 1.34× | ||
| Q1 25 | — | 0.92× | ||
| Q4 24 | — | 1.62× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.24× |
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
CYH
| Managed Care And Other Third Party Payors | $1.5B | 49% |
| Medicare Managed Care | $570.0M | 18% |
| Medicare | $512.0M | 16% |
| Medicaid | $464.0M | 15% |
| Self Pay Revenue | $34.0M | 1% |
ECL
| Product and equipment sales | $3.2B | 78% |
| Service and lease sales | $891.5M | 22% |
