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Dollar Tree（DLTR）与美敦力（MDT）财务数据对比。点击上方公司名可切换其他公司
美敦力的季度营收约是Dollar Tree的1.9倍（$9.0B vs $4.7B），美敦力净利率更高（15.3% vs 5.2%，领先10.2%），美敦力同比增速更快（6.6% vs -37.2%），美敦力自由现金流更多（$457.0M vs $-57.1M），过去两年美敦力的营收复合增速更高（5.3% vs -25.9%）
Dollar Tree是美国多价位折扣百货连锁企业，位列《财富》500强，总部位于弗吉尼亚州切萨皮克。公司在美国本土48个毗连州及加拿大共运营15115家门店，旗下24个配送中心组成的全国物流网络为所有门店提供运营支持。
美敦力是全球知名的医疗设备企业，法定及行政总部位于爱尔兰，运营总部设在美国明尼苏达州明尼阿波利斯。2015年集团收购爱尔兰企业柯惠后将注册地迁至爱尔兰，目前业务覆盖超150个国家，员工逾9万名，专注于研发生产各类医疗技术产品及治疗解决方案。
DLTR vs MDT — 直观对比
营收规模更大
MDT
是对方的1.9倍
$4.7B
营收增速更快
MDT
高出43.9%
-37.2%
净利率更高
MDT
高出10.2%
5.2%
自由现金流更多
MDT
多$514.1M
$-57.1M
两年增速更快
MDT
近两年复合增速
-25.9%
损益表 — Q3 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $9.0B |
| 净利润 | $244.6M | $1.4B |
| 毛利率 | 35.8% | 65.8% |
| 营业利润率 | 7.2% | 18.8% |
| 净利率 | 5.2% | 15.3% |
| 营收同比 | -37.2% | 6.6% |
| 净利润同比 | 4.8% | 8.2% |
| 每股收益（稀释后） | $1.20 | $1.07 |
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DLTRMDT
| Q4 25 | $4.7B | $9.0B | ||
| Q3 25 | $4.6B | $8.6B | ||
| Q2 25 | $4.6B | $8.9B | ||
| Q1 25 | $5.0B | $8.3B | ||
| Q4 24 | $7.6B | $8.4B | ||
| Q3 24 | $7.4B | $7.9B | ||
| Q2 24 | $7.6B | $8.6B | ||
| Q1 24 | $8.6B | $8.1B |
净利润DLTRMDT
| Q4 25 | $244.6M | $1.4B | ||
| Q3 25 | $188.4M | $1.0B | ||
| Q2 25 | $343.4M | $1.1B | ||
| Q1 25 | $-3.7B | $1.3B | ||
| Q4 24 | $233.3M | $1.3B | ||
| Q3 24 | $132.4M | $1.0B | ||
| Q2 24 | $300.1M | $654.0M | ||
| Q1 24 | $-1.7B | $1.3B |
毛利率DLTRMDT
| Q4 25 | 35.8% | 65.8% | ||
| Q3 25 | 34.4% | 65.0% | ||
| Q2 25 | 35.6% | 64.8% | ||
| Q1 25 | 37.6% | 66.5% | ||
| Q4 24 | 30.9% | 64.9% | ||
| Q3 24 | 30.0% | 65.1% | ||
| Q2 24 | 30.8% | 64.5% | ||
| Q1 24 | 32.1% | 65.6% |
营业利润率DLTRMDT
| Q4 25 | 7.2% | 18.8% | ||
| Q3 25 | 5.1% | 16.8% | ||
| Q2 25 | 8.3% | 16.1% | ||
| Q1 25 | — | 19.9% | ||
| Q4 24 | 4.4% | 19.0% | ||
| Q3 24 | 2.8% | 16.1% | ||
| Q2 24 | 5.5% | 12.3% | ||
| Q1 24 | -21.9% | 18.3% |
净利率DLTRMDT
| Q4 25 | 5.2% | 15.3% | ||
| Q3 25 | 4.1% | 12.1% | ||
| Q2 25 | 7.4% | 11.8% | ||
| Q1 25 | -74.0% | 15.6% | ||
| Q4 24 | 3.1% | 15.1% | ||
| Q3 24 | 1.8% | 13.2% | ||
| Q2 24 | 3.9% | 7.6% | ||
| Q1 24 | -19.8% | 16.3% |
每股收益（稀释后）DLTRMDT
| Q4 25 | $1.20 | $1.07 | ||
| Q3 25 | $0.91 | $0.81 | ||
| Q2 25 | $1.61 | $0.81 | ||
| Q1 25 | $-17.17 | $1.01 | ||
| Q4 24 | $1.08 | $0.99 | ||
| Q3 24 | $0.62 | $0.80 | ||
| Q2 24 | $1.38 | $0.50 | ||
| Q1 24 | $-7.78 | $0.99 |
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 | $594.8M | $8.3B |
| 总债务越低越好 | — | $27.7B |
| 股东权益账面价值 | $3.5B | $48.7B |
| 总资产 | $13.7B | $91.3B |
| 负债/权益比越低杠杆越低 | — | 0.57× |
8季度趋势，按日历期对齐
现金及短期投资DLTRMDT
| Q4 25 | $594.8M | $8.3B | ||
| Q3 25 | $666.3M | $8.1B | ||
| Q2 25 | $1.0B | $9.0B | ||
| Q1 25 | $1.3B | $7.9B | ||
| Q4 24 | $697.6M | $8.0B | ||
| Q3 24 | $570.3M | $7.8B | ||
| Q2 24 | $618.5M | $8.0B | ||
| Q1 24 | $684.9M | $8.3B |
总债务DLTRMDT
| Q4 25 | — | $27.7B | ||
| Q3 25 | — | $26.2B | ||
| Q2 25 | — | $25.6B | ||
| Q1 25 | $3.4B | $24.0B | ||
| Q4 24 | — | $24.6B | ||
| Q3 24 | — | $26.3B | ||
| Q2 24 | — | $23.9B | ||
| Q1 24 | $3.4B | $24.2B |
股东权益DLTRMDT
| Q4 25 | $3.5B | $48.7B | ||
| Q3 25 | $3.6B | $47.9B | ||
| Q2 25 | $3.9B | $48.0B | ||
| Q1 25 | $4.0B | $49.4B | ||
| Q4 24 | $7.6B | $48.5B | ||
| Q3 24 | $7.4B | $47.9B | ||
| Q2 24 | $7.3B | $50.2B | ||
| Q1 24 | $7.3B | $51.8B |
总资产DLTRMDT
| Q4 25 | $13.7B | $91.3B | ||
| Q3 25 | $13.4B | $91.0B | ||
| Q2 25 | $18.3B | $91.7B | ||
| Q1 25 | $18.6B | $90.0B | ||
| Q4 24 | $23.3B | $90.0B | ||
| Q3 24 | $22.6B | $89.7B | ||
| Q2 24 | $22.1B | $90.0B | ||
| Q1 24 | $22.0B | $90.8B |
负债/权益比DLTRMDT
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.53× | ||
| Q1 25 | 0.86× | 0.49× | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | 0.55× | ||
| Q2 24 | — | 0.48× | ||
| Q1 24 | 0.47× | 0.47× |
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 | $319.3M | $925.0M |
| 自由现金流经营现金流 - 资本支出 | $-57.1M | $457.0M |
| 自由现金流率自由现金流/营收 | -1.2% | 5.1% |
| 资本支出强度资本支出/营收 | 7.9% | 5.2% |
| 现金转化率经营现金流/净利润 | 1.31× | 0.67× |
| 过去12个月自由现金流最近4个季度 | $394.5M | $5.2B |
8季度趋势，按日历期对齐
经营现金流DLTRMDT
| Q4 25 | $319.3M | $925.0M | ||
| Q3 25 | $260.7M | $1.1B | ||
| Q2 25 | $378.5M | $2.5B | ||
| Q1 25 | $405.1M | $2.6B | ||
| Q4 24 | $785.6M | $958.0M | ||
| Q3 24 | $306.9M | $986.0M | ||
| Q2 24 | $695.7M | $2.8B | ||
| Q1 24 | $1.3B | $2.5B |
自由现金流DLTRMDT
| Q4 25 | $-57.1M | $457.0M | ||
| Q3 25 | $15.6M | $584.0M | ||
| Q2 25 | $129.7M | $2.1B | ||
| Q1 25 | $306.3M | $2.1B | ||
| Q4 24 | $359.2M | $554.0M | ||
| Q3 24 | $-193.8M | $466.0M | ||
| Q2 24 | $223.5M | $2.4B | ||
| Q1 24 | $470.8M | $2.1B |
自由现金流率DLTRMDT
| Q4 25 | -1.2% | 5.1% | ||
| Q3 25 | 0.3% | 6.8% | ||
| Q2 25 | 2.8% | 23.2% | ||
| Q1 25 | 6.1% | 25.3% | ||
| Q4 24 | 4.8% | 6.6% | ||
| Q3 24 | -2.6% | 5.9% | ||
| Q2 24 | 2.9% | 27.4% | ||
| Q1 24 | 5.5% | 26.3% |
资本支出强度DLTRMDT
| Q4 25 | 7.9% | 5.2% | ||
| Q3 25 | 5.4% | 5.9% | ||
| Q2 25 | 5.4% | 5.1% | ||
| Q1 25 | 2.0% | 5.7% | ||
| Q4 24 | 5.6% | 4.8% | ||
| Q3 24 | 6.8% | 6.6% | ||
| Q2 24 | 6.2% | 5.0% | ||
| Q1 24 | 9.1% | 4.3% |
现金转化率DLTRMDT
| Q4 25 | 1.31× | 0.67× | ||
| Q3 25 | 1.38× | 1.05× | ||
| Q2 25 | 1.10× | 2.39× | ||
| Q1 25 | — | 1.99× | ||
| Q4 24 | 3.37× | 0.75× | ||
| Q3 24 | 2.32× | 0.95× | ||
| Q2 24 | 2.32× | 4.25× | ||
| Q1 24 | — | 1.87× |
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
DLTR
| Consumable | $2.4B | 50% |
| Variety | $2.1B | 43% |
| Seasonal | $344.1M | 7% |
MDT
| Cardiac Rhythm And Heart Failure Division | $1.8B | 20% |
| Surgical Endoscopy | $1.7B | 19% |
| Other | $1.3B | 14% |
| Structural Heart And Aortic Division | $956.0M | 11% |
| Diabetes Group | $757.0M | 8% |
| Specialty Therapies Division | $744.0M | 8% |
| Coronary And Peripheral Vascular Division | $655.0M | 7% |
| Neuromodulation Division | $520.0M | 6% |
| Acute Care Monitoring | $493.0M | 6% |
| IE | $35.0M | 0% |
