vs
Dollar Tree（DLTR）与TENET HEALTHCARE CORP（THC）财务数据对比。点击上方公司名可切换其他公司
TENET HEALTHCARE CORP的季度营收约是Dollar Tree的1.2倍（$5.5B vs $4.7B），TENET HEALTHCARE CORP净利率更高（11.7% vs 5.2%，领先6.5%），TENET HEALTHCARE CORP同比增速更快（9.0% vs -37.2%），TENET HEALTHCARE CORP自由现金流更多（$367.0M vs $-57.1M），过去两年TENET HEALTHCARE CORP的营收复合增速更高（1.5% 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。
Tenet Healthcare Corporation是总部位于美国达拉斯的营利性跨国医疗服务企业，旗下拥有USPI等多个品牌、子公司、合资企业及合作主体，运营65家医院及超过450个医疗设施，还通过旗下Conifer Health Solutions为各类医疗系统及其他客户提供专业医疗支持服务
DLTR vs THC — 直观对比
营收规模更大
THC
是对方的1.2倍
$4.7B
营收增速更快
THC
高出46.2%
-37.2%
净利率更高
THC
高出6.5%
5.2%
自由现金流更多
THC
多$424.1M
$-57.1M
两年增速更快
THC
近两年复合增速
-25.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $5.5B |
| 净利润 | $244.6M | $644.0M |
| 毛利率 | 35.8% | — |
| 营业利润率 | 7.2% | 15.4% |
| 净利率 | 5.2% | 11.7% |
| 营收同比 | -37.2% | 9.0% |
| 净利润同比 | 4.8% | 12.6% |
| 每股收益（稀释后） | $1.20 | $4.22 |
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DLTRTHC
| Q4 25 | $4.7B | $5.5B | ||
| Q3 25 | $4.6B | $5.3B | ||
| Q2 25 | $4.6B | $5.3B | ||
| Q1 25 | $5.0B | $5.2B | ||
| Q4 24 | $7.6B | $5.1B | ||
| Q3 24 | $7.4B | $5.1B | ||
| Q2 24 | $7.6B | $5.1B | ||
| Q1 24 | $8.6B | $5.4B |
净利润DLTRTHC
| Q4 25 | $244.6M | $644.0M | ||
| Q3 25 | $188.4M | $579.0M | ||
| Q2 25 | $343.4M | $522.0M | ||
| Q1 25 | $-3.7B | $622.0M | ||
| Q4 24 | $233.3M | $572.0M | ||
| Q3 24 | $132.4M | $681.0M | ||
| Q2 24 | $300.1M | $477.0M | ||
| Q1 24 | $-1.7B | $2.3B |
毛利率DLTRTHC
| Q4 25 | 35.8% | — | ||
| Q3 25 | 34.4% | — | ||
| Q2 25 | 35.6% | — | ||
| Q1 25 | 37.6% | — | ||
| Q4 24 | 30.9% | — | ||
| Q3 24 | 30.0% | — | ||
| Q2 24 | 30.8% | — | ||
| Q1 24 | 32.1% | — |
营业利润率DLTRTHC
| Q4 25 | 7.2% | 15.4% | ||
| Q3 25 | 5.1% | 16.8% | ||
| Q2 25 | 8.3% | 15.6% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | 4.4% | 16.2% | ||
| Q3 24 | 2.8% | 21.3% | ||
| Q2 24 | 5.5% | 14.9% | ||
| Q1 24 | -21.9% | 61.2% |
净利率DLTRTHC
| Q4 25 | 5.2% | 11.7% | ||
| Q3 25 | 4.1% | 10.9% | ||
| Q2 25 | 7.4% | 9.9% | ||
| Q1 25 | -74.0% | 11.9% | ||
| Q4 24 | 3.1% | 11.3% | ||
| Q3 24 | 1.8% | 13.3% | ||
| Q2 24 | 3.9% | 9.3% | ||
| Q1 24 | -19.8% | 43.5% |
每股收益（稀释后）DLTRTHC
| Q4 25 | $1.20 | $4.22 | ||
| Q3 25 | $0.91 | $3.86 | ||
| Q2 25 | $1.61 | $3.14 | ||
| Q1 25 | $-17.17 | $4.27 | ||
| Q4 24 | $1.08 | $3.79 | ||
| Q3 24 | $0.62 | $4.89 | ||
| Q2 24 | $1.38 | $2.64 | ||
| Q1 24 | $-7.78 | $21.38 |
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 | $2.9B |
| 总债务越低越好 | — | $13.1B |
| 股东权益账面价值 | $3.5B | $4.2B |
| 总资产 | $13.7B | $29.7B |
| 负债/权益比越低杠杆越低 | — | 3.10× |
8季度趋势，按日历期对齐
现金及短期投资DLTRTHC
| Q4 25 | $594.8M | $2.9B | ||
| Q3 25 | $666.3M | $3.0B | ||
| Q2 25 | $1.0B | $2.6B | ||
| Q1 25 | $1.3B | $3.0B | ||
| Q4 24 | $697.6M | $3.0B | ||
| Q3 24 | $570.3M | $4.1B | ||
| Q2 24 | $618.5M | $2.9B | ||
| Q1 24 | $684.9M | $2.5B |
总债务DLTRTHC
| Q4 25 | — | $13.1B | ||
| Q3 25 | — | $13.1B | ||
| Q2 25 | — | $13.1B | ||
| Q1 25 | $3.4B | $13.1B | ||
| Q4 24 | — | $13.1B | ||
| Q3 24 | — | $12.8B | ||
| Q2 24 | — | $12.8B | ||
| Q1 24 | $3.4B | $12.8B |
股东权益DLTRTHC
| Q4 25 | $3.5B | $4.2B | ||
| Q3 25 | $3.6B | $4.0B | ||
| Q2 25 | $3.9B | $3.7B | ||
| Q1 25 | $4.0B | $4.2B | ||
| Q4 24 | $7.6B | $4.2B | ||
| Q3 24 | $7.4B | $3.8B | ||
| Q2 24 | $7.3B | $3.5B | ||
| Q1 24 | $7.3B | $3.5B |
总资产DLTRTHC
| Q4 25 | $13.7B | $29.7B | ||
| Q3 25 | $13.4B | $29.4B | ||
| Q2 25 | $18.3B | $28.7B | ||
| Q1 25 | $18.6B | $29.2B | ||
| Q4 24 | $23.3B | $28.9B | ||
| Q3 24 | $22.6B | $29.4B | ||
| Q2 24 | $22.1B | $29.3B | ||
| Q1 24 | $22.0B | $28.9B |
负债/权益比DLTRTHC
| Q4 25 | — | 3.10× | ||
| Q3 25 | — | 3.26× | ||
| Q2 25 | — | 3.49× | ||
| Q1 25 | 0.86× | 3.13× | ||
| Q4 24 | — | 3.14× | ||
| Q3 24 | — | 3.33× | ||
| Q2 24 | — | 3.67× | ||
| Q1 24 | 0.47× | 3.70× |
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 | $731.0M |
| 自由现金流经营现金流 - 资本支出 | $-57.1M | $367.0M |
| 自由现金流率自由现金流/营收 | -1.2% | 6.6% |
| 资本支出强度资本支出/营收 | 7.9% | 6.6% |
| 现金转化率经营现金流/净利润 | 1.31× | 1.14× |
| 过去12个月自由现金流最近4个季度 | $394.5M | $2.5B |
8季度趋势，按日历期对齐
经营现金流DLTRTHC
| Q4 25 | $319.3M | $731.0M | ||
| Q3 25 | $260.7M | $1.1B | ||
| Q2 25 | $378.5M | $936.0M | ||
| Q1 25 | $405.1M | $815.0M | ||
| Q4 24 | $785.6M | $-331.0M | ||
| Q3 24 | $306.9M | $1.0B | ||
| Q2 24 | $695.7M | $747.0M | ||
| Q1 24 | $1.3B | $586.0M |
自由现金流DLTRTHC
| Q4 25 | $-57.1M | $367.0M | ||
| Q3 25 | $15.6M | $778.0M | ||
| Q2 25 | $129.7M | $743.0M | ||
| Q1 25 | $306.3M | $642.0M | ||
| Q4 24 | $359.2M | $-661.0M | ||
| Q3 24 | $-193.8M | $829.0M | ||
| Q2 24 | $223.5M | $602.0M | ||
| Q1 24 | $470.8M | $346.0M |
自由现金流率DLTRTHC
| Q4 25 | -1.2% | 6.6% | ||
| Q3 25 | 0.3% | 14.7% | ||
| Q2 25 | 2.8% | 14.1% | ||
| Q1 25 | 6.1% | 12.3% | ||
| Q4 24 | 4.8% | -13.0% | ||
| Q3 24 | -2.6% | 16.2% | ||
| Q2 24 | 2.9% | 11.8% | ||
| Q1 24 | 5.5% | 6.4% |
资本支出强度DLTRTHC
| Q4 25 | 7.9% | 6.6% | ||
| Q3 25 | 5.4% | 5.3% | ||
| Q2 25 | 5.4% | 3.7% | ||
| Q1 25 | 2.0% | 3.3% | ||
| Q4 24 | 5.6% | 6.5% | ||
| Q3 24 | 6.8% | 4.2% | ||
| Q2 24 | 6.2% | 2.8% | ||
| Q1 24 | 9.1% | 4.5% |
现金转化率DLTRTHC
| Q4 25 | 1.31× | 1.14× | ||
| Q3 25 | 1.38× | 1.83× | ||
| Q2 25 | 1.10× | 1.79× | ||
| Q1 25 | — | 1.31× | ||
| Q4 24 | 3.37× | -0.58× | ||
| Q3 24 | 2.32× | 1.53× | ||
| Q2 24 | 2.32× | 1.57× | ||
| Q1 24 | — | 0.25× |
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% |
THC
| Other | $2.9B | 52% |
| Health Care Patient Service | $1.4B | 25% |
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.2B | 22% |
| Health Care Other Sources | $56.0M | 1% |
