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丹纳赫（DHR）与费森尤斯医疗（FMS）财务数据对比。点击上方公司名可切换其他公司
丹纳赫的季度营收约是费森尤斯医疗的1.1倍（$6.0B vs $5.5B），丹纳赫净利率更高（17.3% vs 7.9%，领先9.4%），丹纳赫同比增速更快（3.7% vs -0.3%）
丹纳赫是总部位于美国华盛顿特区的医疗健康企业，聚焦生物技术、生命科学与诊断领域的产品研发。公司下设三大业务板块：生物技术板块开发治疗相关产品，生命科学板块覆盖疾病溯源、新疗法研发、药物疫苗与基因编辑技术的测试生产，诊断板块研发检测仪器，为全球生命健康产业提供核心支持。
费森尤斯医疗是德国知名医疗保健企业，核心业务为肾脏透析服务，在全球运营4171家门诊透析中心，服务约34.54万名患者。公司主要为终末期肾病患者提供治疗服务，该类患者需终身每周接受3次透析治疗以维持生命。
DHR vs FMS — 直观对比
营收规模更大
DHR
是对方的1.1倍
$5.5B
营收增速更快
DHR
高出4.0%
-0.3%
净利率更高
DHR
高出9.4%
7.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $5.5B |
| 净利润 | $1.0B | $434.2M |
| 毛利率 | 60.3% | 27.4% |
| 营业利润率 | 22.6% | 11.7% |
| 净利率 | 17.3% | 7.9% |
| 营收同比 | 3.7% | -0.3% |
| 净利润同比 | 7.9% | 240.4% |
| 每股收益（稀释后） | $1.45 | — |
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DHRFMS
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.8B | $5.5B | ||
| Q3 25 | $6.1B | — | ||
| Q2 25 | $5.9B | — | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $6.5B | $5.5B | ||
| Q3 24 | $5.8B | — | ||
| Q2 24 | $5.7B | — |
净利润DHRFMS
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.2B | $434.2M | ||
| Q3 25 | $908.0M | — | ||
| Q2 25 | $555.0M | — | ||
| Q1 25 | $954.0M | — | ||
| Q4 24 | $1.1B | $127.6M | ||
| Q3 24 | $818.0M | — | ||
| Q2 24 | $907.0M | — |
毛利率DHRFMS
| Q1 26 | 60.3% | — | ||
| Q4 25 | 58.0% | 27.4% | ||
| Q3 25 | 58.2% | — | ||
| Q2 25 | 59.3% | — | ||
| Q1 25 | 61.2% | — | ||
| Q4 24 | 59.5% | 25.0% | ||
| Q3 24 | 58.7% | — | ||
| Q2 24 | 59.7% | — |
营业利润率DHRFMS
| Q1 26 | 22.6% | — | ||
| Q4 25 | 22.0% | 11.7% | ||
| Q3 25 | 19.1% | — | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 22.2% | — | ||
| Q4 24 | 21.8% | 5.1% | ||
| Q3 24 | 16.5% | — | ||
| Q2 24 | 20.3% | — |
净利率DHRFMS
| Q1 26 | 17.3% | — | ||
| Q4 25 | 17.5% | 7.9% | ||
| Q3 25 | 15.0% | — | ||
| Q2 25 | 9.3% | — | ||
| Q1 25 | 16.6% | — | ||
| Q4 24 | 16.6% | 2.3% | ||
| Q3 24 | 14.1% | — | ||
| Q2 24 | 15.8% | — |
每股收益（稀释后）DHRFMS
| Q1 26 | $1.45 | — | ||
| Q4 25 | $1.69 | — | ||
| Q3 25 | $1.27 | — | ||
| Q2 25 | $0.77 | — | ||
| Q1 25 | $1.32 | — | ||
| Q4 24 | $1.50 | — | ||
| Q3 24 | $1.12 | — | ||
| Q2 24 | $1.22 | — |
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 | — | $1.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $15.4B |
| 总资产 | — | $33.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DHRFMS
| Q1 26 | — | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
总债务DHRFMS
| Q1 26 | — | — | ||
| Q4 25 | $18.4B | — | ||
| Q3 25 | $16.9B | — | ||
| Q2 25 | $17.4B | — | ||
| Q1 25 | $16.5B | — | ||
| Q4 24 | $16.0B | — | ||
| Q3 24 | $17.5B | — | ||
| Q2 24 | $17.0B | — |
股东权益DHRFMS
| Q1 26 | — | — | ||
| Q4 25 | $52.5B | $15.4B | ||
| Q3 25 | $51.1B | — | ||
| Q2 25 | $52.3B | — | ||
| Q1 25 | $50.8B | — | ||
| Q4 24 | $49.5B | $17.0B | ||
| Q3 24 | $51.3B | — | ||
| Q2 24 | $49.9B | — |
总资产DHRFMS
| Q1 26 | — | — | ||
| Q4 25 | $83.5B | $33.5B | ||
| Q3 25 | $79.9B | — | ||
| Q2 25 | $81.6B | — | ||
| Q1 25 | $79.1B | — | ||
| Q4 24 | $77.5B | $36.3B | ||
| Q3 24 | $80.6B | — | ||
| Q2 24 | $78.6B | — |
负债/权益比DHRFMS
| Q1 26 | — | — | ||
| Q4 25 | 0.35× | — | ||
| Q3 25 | 0.33× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.34× | — |
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 | $1.3B | $2.9B |
| 自由现金流经营现金流 - 资本支出 | $1.1B | — |
| 自由现金流率自由现金流/营收 | 18.2% | — |
| 资本支出强度资本支出/营收 | 4.0% | — |
| 现金转化率经营现金流/净利润 | 1.28× | 6.67× |
| 过去12个月自由现金流最近4个季度 | $5.3B | — |
8季度趋势，按日历期对齐
经营现金流DHRFMS
| Q1 26 | $1.3B | — | ||
| Q4 25 | $2.1B | $2.9B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $2.0B | $2.6B | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.4B | — |
自由现金流DHRFMS
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — |
自由现金流率DHRFMS
| Q1 26 | 18.2% | — | ||
| Q4 25 | 25.5% | — | ||
| Q3 25 | 22.6% | — | ||
| Q2 25 | 18.4% | — | ||
| Q1 25 | 18.4% | — | ||
| Q4 24 | 23.0% | — | ||
| Q3 24 | 21.0% | — | ||
| Q2 24 | 19.7% | — |
资本支出强度DHRFMS
| Q1 26 | 4.0% | — | ||
| Q4 25 | 5.4% | — | ||
| Q3 25 | 4.8% | — | ||
| Q2 25 | 4.2% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 7.9% | — | ||
| Q3 24 | 5.1% | — | ||
| Q2 24 | 5.0% | — |
现金转化率DHRFMS
| Q1 26 | 1.28× | — | ||
| Q4 25 | 1.77× | 6.67× | ||
| Q3 25 | 1.83× | — | ||
| Q2 25 | 2.41× | — | ||
| Q1 25 | 1.36× | — | ||
| Q4 24 | 1.86× | 20.20× | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.56× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
