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GE医疗（DHC）与朗美通（LITE）财务数据对比。点击上方公司名可切换其他公司
朗美通的季度营收约是GE医疗的1.8倍（$665.5M vs $379.6M），朗美通净利率更高（11.8% vs -5.6%，领先17.3%），朗美通同比增速更快（65.5% vs -0.0%），朗美通自由现金流更多（$43.1M vs $-166.4M），过去两年朗美通的营收复合增速更高（34.8% vs 1.2%）
GE医疗是一家总部位于美国伊利诺伊州芝加哥市的医疗科技企业，业务涵盖四大板块：医疗影像设备，包括分子成像、CT、核磁共振、妇科健康筛查及X光系统；超声设备；患者护理解决方案，聚焦远程患者监测、麻醉呼吸护理、心脏诊断及婴幼儿护理；此外还涉及医药相关领域，是全球医疗行业的知名企业。
朗美通控股（Lumentum Holdings Inc.）是全球知名光电产品供应商，前身为美国捷迪讯（JDSU）旗下光电器件及激光业务板块，2015年8月随捷迪讯分拆独立运营，总部位于美国加利福尼亚州米尔皮塔斯，主营光通信网络设备、激光器、定制光学解决方案等多元产品。
DHC vs LITE — 直观对比
营收规模更大
LITE
是对方的1.8倍
$379.6M
营收增速更快
LITE
高出65.5%
-0.0%
净利率更高
LITE
高出17.3%
-5.6%
自由现金流更多
LITE
多$209.5M
$-166.4M
两年增速更快
LITE
近两年复合增速
1.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $379.6M | $665.5M |
| 净利润 | $-21.2M | $78.2M |
| 毛利率 | — | 36.1% |
| 营业利润率 | -12.6% | 9.7% |
| 净利率 | -5.6% | 11.8% |
| 营收同比 | -0.0% | 65.5% |
| 净利润同比 | 75.7% | 228.4% |
| 每股收益（稀释后） | $-0.09 | $0.89 |
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DHCLITE
| Q4 25 | $379.6M | $665.5M | ||
| Q3 25 | $388.7M | $533.8M | ||
| Q2 25 | $382.7M | $480.7M | ||
| Q1 25 | $386.9M | $425.2M | ||
| Q4 24 | $379.6M | $402.2M | ||
| Q3 24 | $373.6M | $336.9M | ||
| Q2 24 | $371.4M | $308.3M | ||
| Q1 24 | $370.8M | $366.5M |
净利润DHCLITE
| Q4 25 | $-21.2M | $78.2M | ||
| Q3 25 | $-164.0M | $4.2M | ||
| Q2 25 | $-91.6M | $213.3M | ||
| Q1 25 | $-9.0M | $-44.1M | ||
| Q4 24 | $-87.4M | $-60.9M | ||
| Q3 24 | $-98.7M | $-82.4M | ||
| Q2 24 | $-97.9M | $-252.5M | ||
| Q1 24 | $-86.3M | $-127.0M |
毛利率DHCLITE
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 34.0% | ||
| Q2 25 | — | 33.3% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | 24.8% | ||
| Q3 24 | — | 23.1% | ||
| Q2 24 | — | 16.6% | ||
| Q1 24 | — | 16.2% |
营业利润率DHCLITE
| Q4 25 | -12.6% | 9.7% | ||
| Q3 25 | -43.4% | 1.3% | ||
| Q2 25 | -24.5% | -1.7% | ||
| Q1 25 | -2.7% | -8.9% | ||
| Q4 24 | -26.1% | -12.8% | ||
| Q3 24 | -26.5% | -24.5% | ||
| Q2 24 | -23.0% | -43.3% | ||
| Q1 24 | -23.7% | -31.3% |
净利率DHCLITE
| Q4 25 | -5.6% | 11.8% | ||
| Q3 25 | -42.2% | 0.8% | ||
| Q2 25 | -23.9% | 44.4% | ||
| Q1 25 | -2.3% | -10.4% | ||
| Q4 24 | -23.0% | -15.1% | ||
| Q3 24 | -26.4% | -24.5% | ||
| Q2 24 | -26.3% | -81.9% | ||
| Q1 24 | -23.3% | -34.7% |
每股收益（稀释后）DHCLITE
| Q4 25 | $-0.09 | $0.89 | ||
| Q3 25 | $-0.68 | $0.05 | ||
| Q2 25 | $-0.38 | $3.10 | ||
| Q1 25 | $-0.04 | $-0.64 | ||
| Q4 24 | $-0.37 | $-0.88 | ||
| Q3 24 | $-0.41 | $-1.21 | ||
| Q2 24 | $-0.41 | $-3.75 | ||
| Q1 24 | $-0.36 | $-1.88 |
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 | $105.4M | $1.2B |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $1.7B | $846.6M |
| 总资产 | $4.4B | $4.8B |
| 负债/权益比越低杠杆越低 | 1.47× | — |
8季度趋势，按日历期对齐
现金及短期投资DHCLITE
| Q4 25 | $105.4M | $1.2B | ||
| Q3 25 | $201.4M | $1.1B | ||
| Q2 25 | $141.8M | $877.1M | ||
| Q1 25 | $302.6M | $866.7M | ||
| Q4 24 | $144.6M | $896.7M | ||
| Q3 24 | $256.5M | $916.1M | ||
| Q2 24 | $265.6M | $887.0M | ||
| Q1 24 | $207.1M | $870.9M |
总债务DHCLITE
| Q4 25 | $2.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DHCLITE
| Q4 25 | $1.7B | $846.6M | ||
| Q3 25 | $1.7B | $780.8M | ||
| Q2 25 | $1.9B | $1.1B | ||
| Q1 25 | $1.9B | $879.5M | ||
| Q4 24 | $2.0B | $872.3M | ||
| Q3 24 | $2.0B | $895.9M | ||
| Q2 24 | $2.1B | $957.3M | ||
| Q1 24 | $2.2B | $1.2B |
总资产DHCLITE
| Q4 25 | $4.4B | $4.8B | ||
| Q3 25 | $4.7B | $4.6B | ||
| Q2 25 | $4.8B | $4.2B | ||
| Q1 25 | $5.0B | $4.0B | ||
| Q4 24 | $5.1B | $4.0B | ||
| Q3 24 | $5.3B | $4.0B | ||
| Q2 24 | $5.3B | $3.9B | ||
| Q1 24 | $5.3B | $4.2B |
负债/权益比DHCLITE
| Q4 25 | 1.47× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-19.6M | $126.7M |
| 自由现金流经营现金流 - 资本支出 | $-166.4M | $43.1M |
| 自由现金流率自由现金流/营收 | -43.8% | 6.5% |
| 资本支出强度资本支出/营收 | 38.7% | 12.6% |
| 现金转化率经营现金流/净利润 | — | 1.62× |
| 过去12个月自由现金流最近4个季度 | $-280.3M | $-29.5M |
8季度趋势，按日历期对齐
经营现金流DHCLITE
| Q4 25 | $-19.6M | $126.7M | ||
| Q3 25 | $-49.3M | $57.9M | ||
| Q2 25 | $53.0M | $64.0M | ||
| Q1 25 | $-3.2M | $-1.6M | ||
| Q4 24 | $112.2M | $24.3M | ||
| Q3 24 | $21.1M | $39.6M | ||
| Q2 24 | $44.3M | $35.5M | ||
| Q1 24 | $28.6M | $-7.0M |
自由现金流DHCLITE
| Q4 25 | $-166.4M | $43.1M | ||
| Q3 25 | $-89.8M | $-18.3M | ||
| Q2 25 | $18.8M | $10.1M | ||
| Q1 25 | $-42.9M | $-64.4M | ||
| Q4 24 | $-89.5M | $-15.9M | ||
| Q3 24 | $-26.1M | $-34.5M | ||
| Q2 24 | $3.3M | $10.9M | ||
| Q1 24 | $-18.1M | $-26.6M |
自由现金流率DHCLITE
| Q4 25 | -43.8% | 6.5% | ||
| Q3 25 | -23.1% | -3.4% | ||
| Q2 25 | 4.9% | 2.1% | ||
| Q1 25 | -11.1% | -15.1% | ||
| Q4 24 | -23.6% | -4.0% | ||
| Q3 24 | -7.0% | -10.2% | ||
| Q2 24 | 0.9% | 3.5% | ||
| Q1 24 | -4.9% | -7.3% |
资本支出强度DHCLITE
| Q4 25 | 38.7% | 12.6% | ||
| Q3 25 | 10.4% | 14.3% | ||
| Q2 25 | 8.9% | 11.2% | ||
| Q1 25 | 10.2% | 14.8% | ||
| Q4 24 | 53.1% | 10.0% | ||
| Q3 24 | 12.6% | 22.0% | ||
| Q2 24 | 11.0% | 8.0% | ||
| Q1 24 | 12.6% | 5.3% |
现金转化率DHCLITE
| Q4 25 | — | 1.62× | ||
| Q3 25 | — | 13.79× | ||
| Q2 25 | — | 0.30× | ||
| 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
DHC
| Senior Housing Operating Portfolio Segment | $323.4M | 85% |
| Rental Income | $56.2M | 15% |
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
