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COMMUNITY HEALTH SYSTEMS INC（CYH）与Surgery Partners, Inc.（SGRY）财务数据对比。点击上方公司名可切换其他公司
COMMUNITY HEALTH SYSTEMS INC的季度营收约是Surgery Partners, Inc.的3.5倍（$3.1B vs $885.0M）。COMMUNITY HEALTH SYSTEMS INC净利率更高（3.5% vs -1.7%，领先5.2%）。Surgery Partners, Inc.同比增速更快（2.4% vs -4.8%）。COMMUNITY HEALTH SYSTEMS INC自由现金流更多（$172.0M vs $90.6M）。过去两年Surgery Partners, Inc.的营收复合增速更高（11.1% 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。
Surgery Partners, Inc.（NASDAQ代码：SGRY）旗下的United Surgical Partners International（USPI）是美国领先的日间手术护理服务商，总部位于得克萨斯州达拉斯，由唐·斯廷于1998年创立，专注于为患者提供便捷、高效的门诊外科医疗服务，运营多家合规手术中心，覆盖美国多地医疗需求场景。
CYH vs SGRY — 直观对比
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $885.0M |
| 净利润 | $110.0M | $-15.0M |
| 毛利率 | 85.6% | — |
| 营业利润率 | 14.5% | 12.5% |
| 净利率 | 3.5% | -1.7% |
| 营收同比 | -4.8% | 2.4% |
| 净利润同比 | 254.9% | 86.2% |
| 每股收益（稀释后） | $0.82 | $-0.11 |
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
| Q4 25 | $3.1B | $885.0M | ||
| Q3 25 | $3.1B | $821.5M | ||
| Q2 25 | $3.1B | $826.2M | ||
| Q1 25 | $3.2B | $776.0M | ||
| Q4 24 | $3.3B | $864.4M | ||
| Q3 24 | $3.1B | $770.4M | ||
| Q2 24 | $3.1B | $762.1M | ||
| Q1 24 | $3.1B | $717.4M |
| Q4 25 | $110.0M | $-15.0M | ||
| Q3 25 | $130.0M | $-22.7M | ||
| Q2 25 | $282.0M | $-2.5M | ||
| Q1 25 | $-13.0M | $-37.7M | ||
| Q4 24 | $-71.0M | $-108.5M | ||
| Q3 24 | $-391.0M | $-31.7M | ||
| Q2 24 | $-13.0M | $-15.5M | ||
| Q1 24 | $-41.0M | $-12.4M |
| Q4 25 | 85.6% | — | ||
| Q3 25 | 85.1% | — | ||
| Q2 25 | 85.0% | — | ||
| Q1 25 | 84.5% | — | ||
| Q4 24 | 84.5% | — | ||
| Q3 24 | 84.8% | — | ||
| Q2 24 | 84.6% | — | ||
| Q1 24 | 84.5% | — |
| Q4 25 | 14.5% | 12.5% | ||
| Q3 25 | 7.9% | 12.9% | ||
| Q2 25 | 16.3% | 13.5% | ||
| Q1 25 | 9.0% | 8.0% | ||
| Q4 24 | 8.5% | 14.7% | ||
| Q3 24 | -6.6% | 7.9% | ||
| Q2 24 | 7.6% | 11.1% | ||
| Q1 24 | 7.4% | 10.6% |
| Q4 25 | 3.5% | -1.7% | ||
| Q3 25 | 4.2% | -2.8% | ||
| Q2 25 | 9.0% | -0.3% | ||
| Q1 25 | -0.4% | -4.9% | ||
| Q4 24 | -2.2% | -12.6% | ||
| Q3 24 | -12.7% | -4.1% | ||
| Q2 24 | -0.4% | -2.0% | ||
| Q1 24 | -1.3% | -1.7% |
| Q4 25 | $0.82 | $-0.11 | ||
| Q3 25 | $0.96 | $-0.18 | ||
| Q2 25 | $2.09 | $-0.02 | ||
| Q1 25 | $-0.10 | $-0.30 | ||
| Q4 24 | $-0.53 | $-0.86 | ||
| Q3 24 | $-2.95 | $-0.25 | ||
| Q2 24 | $-0.10 | $-0.12 | ||
| Q1 24 | $-0.32 | $-0.10 |
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 | $260.0M | $239.9M |
| 总债务越低越好 | $10.4B | $3.6B |
| 股东权益账面价值 | $-1.4B | $1.7B |
| 总资产 | $13.2B | $8.1B |
| 负债/权益比越低杠杆越低 | — | 2.10× |
8季度趋势，按日历期对齐
| Q4 25 | $260.0M | $239.9M | ||
| Q3 25 | $123.0M | $203.4M | ||
| Q2 25 | $456.0M | $250.1M | ||
| Q1 25 | $431.0M | $229.3M | ||
| Q4 24 | $37.0M | $269.5M | ||
| Q3 24 | $33.0M | $221.8M | ||
| Q2 24 | $39.0M | $213.5M | ||
| Q1 24 | $48.0M | $185.2M |
| Q4 25 | $10.4B | $3.6B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.5B | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | $11.5B | $3.3B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $2.8B |
| Q4 25 | $-1.4B | $1.7B | ||
| Q3 25 | $-1.5B | $1.7B | ||
| Q2 25 | $-1.6B | $1.7B | ||
| Q1 25 | $-1.9B | $1.7B | ||
| Q4 24 | $-1.9B | $1.8B | ||
| Q3 24 | $-1.8B | $1.9B | ||
| Q2 24 | $-1.4B | $2.0B | ||
| Q1 24 | $-1.4B | $2.0B |
| Q4 25 | $13.2B | $8.1B | ||
| Q3 25 | $13.2B | $7.9B | ||
| Q2 25 | $13.6B | $8.0B | ||
| Q1 25 | $13.9B | $7.9B | ||
| Q4 24 | $14.1B | $7.9B | ||
| Q3 24 | $13.9B | $7.5B | ||
| Q2 24 | $14.4B | $7.5B | ||
| Q1 24 | $14.4B | $7.0B |
| Q4 25 | — | 2.10× | ||
| Q3 25 | — | 2.00× | ||
| Q2 25 | — | 1.98× | ||
| Q1 25 | — | 1.98× | ||
| Q4 24 | — | 1.83× | ||
| Q3 24 | — | 1.63× | ||
| Q2 24 | — | 1.56× | ||
| Q1 24 | — | 1.42× |
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 | $103.4M |
| 自由现金流经营现金流 - 资本支出 | $172.0M | $90.6M |
| 自由现金流率自由现金流/营收 | 5.5% | 10.2% |
| 资本支出强度资本支出/营收 | 3.0% | 1.4% |
| 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 | $195.6M |
8季度趋势，按日历期对齐
| Q4 25 | $266.0M | $103.4M | ||
| Q3 25 | $69.0M | $83.6M | ||
| Q2 25 | $88.0M | $81.3M | ||
| Q1 25 | $120.0M | $6.0M | ||
| Q4 24 | $216.0M | $111.4M | ||
| Q3 24 | $67.0M | $65.2M | ||
| Q2 24 | $101.0M | $82.8M | ||
| Q1 24 | $96.0M | $40.7M |
| Q4 25 | $172.0M | $90.6M | ||
| Q3 25 | $4.0M | $63.8M | ||
| Q2 25 | $-3.0M | $57.9M | ||
| Q1 25 | $35.0M | $-16.7M | ||
| Q4 24 | $107.0M | $89.1M | ||
| Q3 24 | $-3.0M | $45.0M | ||
| Q2 24 | $13.0M | $55.9M | ||
| Q1 24 | $3.0M | $19.7M |
| Q4 25 | 5.5% | 10.2% | ||
| Q3 25 | 0.1% | 7.8% | ||
| Q2 25 | -0.1% | 7.0% | ||
| Q1 25 | 1.1% | -2.2% | ||
| Q4 24 | 3.3% | 10.3% | ||
| Q3 24 | -0.1% | 5.8% | ||
| Q2 24 | 0.4% | 7.3% | ||
| Q1 24 | 0.1% | 2.7% |
| Q4 25 | 3.0% | 1.4% | ||
| Q3 25 | 2.1% | 2.4% | ||
| Q2 25 | 2.9% | 2.8% | ||
| Q1 25 | 2.7% | 2.9% | ||
| Q4 24 | 3.3% | 2.6% | ||
| Q3 24 | 2.3% | 2.6% | ||
| Q2 24 | 2.8% | 3.5% | ||
| Q1 24 | 3.0% | 2.9% |
| Q4 25 | 2.42× | — | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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% |
SGRY
| Private Insurance | $460.5M | 52% |
| Government Revenue | $368.6M | 42% |
| Other | $19.8M | 2% |
| Self Pay Revenue | $19.6M | 2% |
| Other Patient Service Revenue Sources | $16.5M | 2% |
