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COMMUNITY HEALTH SYSTEMS INC（CYH）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是COMMUNITY HEALTH SYSTEMS INC的1.4倍（$4.5B vs $3.1B），皇家加勒比集团净利率更高（21.3% vs 3.5%，领先17.8%），皇家加勒比集团同比增速更快（11.3% vs -4.8%），过去两年皇家加勒比集团的营收复合增速更高（4.1% 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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
CYH vs RCL — 直观对比
营收规模更大
RCL
是对方的1.4倍
$3.1B
营收增速更快
RCL
高出16.2%
-4.8%
净利率更高
RCL
高出17.8%
3.5%
两年增速更快
RCL
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $4.5B |
| 净利润 | $110.0M | $950.0M |
| 毛利率 | 85.6% | — |
| 营业利润率 | 14.5% | 26.1% |
| 净利率 | 3.5% | 21.3% |
| 营收同比 | -4.8% | 11.3% |
| 净利润同比 | 254.9% | 29.1% |
| 每股收益（稀释后） | $0.82 | $3.48 |
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CYHRCL
| Q1 26 | — | $4.5B | ||
| Q4 25 | $3.1B | $4.3B | ||
| Q3 25 | $3.1B | $5.1B | ||
| Q2 25 | $3.1B | $4.5B | ||
| Q1 25 | $3.2B | $4.0B | ||
| Q4 24 | $3.3B | $3.8B | ||
| Q3 24 | $3.1B | $4.9B | ||
| Q2 24 | $3.1B | $4.1B |
净利润CYHRCL
| Q1 26 | — | $950.0M | ||
| Q4 25 | $110.0M | $753.0M | ||
| Q3 25 | $130.0M | $1.6B | ||
| Q2 25 | $282.0M | $1.2B | ||
| Q1 25 | $-13.0M | $730.0M | ||
| Q4 24 | $-71.0M | $552.0M | ||
| Q3 24 | $-391.0M | $1.1B | ||
| Q2 24 | $-13.0M | $854.0M |
毛利率CYHRCL
| Q1 26 | — | — | ||
| Q4 25 | 85.6% | 47.4% | ||
| Q3 25 | 85.1% | 51.8% | ||
| Q2 25 | 85.0% | 49.7% | ||
| Q1 25 | 84.5% | 48.0% | ||
| Q4 24 | 84.5% | 45.4% | ||
| Q3 24 | 84.8% | 51.1% | ||
| Q2 24 | 84.6% | 47.6% |
营业利润率CYHRCL
| Q1 26 | — | 26.1% | ||
| Q4 25 | 14.5% | 21.9% | ||
| Q3 25 | 7.9% | 33.1% | ||
| Q2 25 | 16.3% | 29.3% | ||
| Q1 25 | 9.0% | 23.6% | ||
| Q4 24 | 8.5% | 16.6% | ||
| Q3 24 | -6.6% | 33.4% | ||
| Q2 24 | 7.6% | 26.7% |
净利率CYHRCL
| Q1 26 | — | 21.3% | ||
| Q4 25 | 3.5% | 17.7% | ||
| Q3 25 | 4.2% | 30.6% | ||
| Q2 25 | 9.0% | 26.7% | ||
| Q1 25 | -0.4% | 18.3% | ||
| Q4 24 | -2.2% | 14.7% | ||
| Q3 24 | -12.7% | 22.7% | ||
| Q2 24 | -0.4% | 20.8% |
每股收益（稀释后）CYHRCL
| Q1 26 | — | $3.48 | ||
| Q4 25 | $0.82 | $2.76 | ||
| Q3 25 | $0.96 | $5.74 | ||
| Q2 25 | $2.09 | $4.41 | ||
| Q1 25 | $-0.10 | $2.70 | ||
| Q4 24 | $-0.53 | $2.27 | ||
| Q3 24 | $-2.95 | $4.21 | ||
| Q2 24 | $-0.10 | $3.11 |
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 | $512.0M |
| 总债务越低越好 | $10.4B | $21.1B |
| 股东权益账面价值 | $-1.4B | $10.0B |
| 总资产 | $13.2B | $42.0B |
| 负债/权益比越低杠杆越低 | — | 2.11× |
8季度趋势，按日历期对齐
现金及短期投资CYHRCL
| Q1 26 | — | $512.0M | ||
| Q4 25 | $260.0M | $825.0M | ||
| Q3 25 | $123.0M | $432.0M | ||
| Q2 25 | $456.0M | $735.0M | ||
| Q1 25 | $431.0M | $386.0M | ||
| Q4 24 | $37.0M | $388.0M | ||
| Q3 24 | $33.0M | $418.0M | ||
| Q2 24 | $39.0M | $391.0M |
总债务CYHRCL
| Q1 26 | — | $21.1B | ||
| Q4 25 | $10.4B | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | $11.5B | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B |
股东权益CYHRCL
| Q1 26 | — | $10.0B | ||
| Q4 25 | $-1.4B | $10.0B | ||
| Q3 25 | $-1.5B | $10.1B | ||
| Q2 25 | $-1.6B | $9.2B | ||
| Q1 25 | $-1.9B | $8.0B | ||
| Q4 24 | $-1.9B | $7.6B | ||
| Q3 24 | $-1.8B | $7.0B | ||
| Q2 24 | $-1.4B | $6.0B |
总资产CYHRCL
| Q1 26 | — | $42.0B | ||
| Q4 25 | $13.2B | $41.6B | ||
| Q3 25 | $13.2B | $40.1B | ||
| Q2 25 | $13.6B | $38.5B | ||
| Q1 25 | $13.9B | $37.5B | ||
| Q4 24 | $14.1B | $37.1B | ||
| Q3 24 | $13.9B | $37.1B | ||
| Q2 24 | $14.4B | $37.0B |
负债/权益比CYHRCL
| Q1 26 | — | 2.11× | ||
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× |
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 | $1.8B |
| 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× | 1.93× |
| 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CYHRCL
| Q1 26 | — | $1.8B | ||
| Q4 25 | $266.0M | $1.6B | ||
| Q3 25 | $69.0M | $1.5B | ||
| Q2 25 | $88.0M | $1.7B | ||
| Q1 25 | $120.0M | $1.6B | ||
| Q4 24 | $216.0M | $1.5B | ||
| Q3 24 | $67.0M | $897.0M | ||
| Q2 24 | $101.0M | $1.6B |
自由现金流CYHRCL
| Q1 26 | — | — | ||
| Q4 25 | $172.0M | $116.0M | ||
| Q3 25 | $4.0M | $-989.0M | ||
| Q2 25 | $-3.0M | $910.0M | ||
| Q1 25 | $35.0M | $1.2B | ||
| Q4 24 | $107.0M | $915.0M | ||
| Q3 24 | $-3.0M | $563.0M | ||
| Q2 24 | $13.0M | $-567.0M |
自由现金流率CYHRCL
| Q1 26 | — | — | ||
| Q4 25 | 5.5% | 2.7% | ||
| Q3 25 | 0.1% | -19.2% | ||
| Q2 25 | -0.1% | 20.1% | ||
| Q1 25 | 1.1% | 30.0% | ||
| Q4 24 | 3.3% | 24.3% | ||
| Q3 24 | -0.1% | 11.5% | ||
| Q2 24 | 0.4% | -13.8% |
资本支出强度CYHRCL
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 35.4% | ||
| Q3 25 | 2.1% | 47.8% | ||
| Q2 25 | 2.9% | 18.4% | ||
| Q1 25 | 2.7% | 10.7% | ||
| Q4 24 | 3.3% | 14.7% | ||
| Q3 24 | 2.3% | 6.8% | ||
| Q2 24 | 2.8% | 52.1% |
现金转化率CYHRCL
| Q1 26 | — | 1.93× | ||
| Q4 25 | 2.42× | 2.16× | ||
| Q3 25 | 0.53× | 0.93× | ||
| Q2 25 | 0.31× | 1.44× | ||
| Q1 25 | — | 2.23× | ||
| Q4 24 | — | 2.66× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 1.84× |
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% |
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
