vs
陶氏公司（DOW）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
陶氏公司的季度营收约是TENET HEALTHCARE CORP的1.7倍（$9.5B vs $5.5B），TENET HEALTHCARE CORP同比增速更快（9.0% vs -9.3%），过去两年TENET HEALTHCARE CORP的营收复合增速更高（1.5% vs -6.9%）
陶氏化学是总部位于美国密歇根州米德兰的跨国化工企业，2021年位列全球前三大化工生产商，为特拉华州注册的上市控股公司陶氏公司旗下运营子公司，其产品与解决方案广泛服务于制造业、消费品、基础设施建设等全球多个核心产业领域。
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
DOW vs THC — 直观对比
营收规模更大
DOW
是对方的1.7倍
$5.5B
营收增速更快
THC
高出18.3%
-9.3%
两年增速更快
THC
近两年复合增速
-6.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.5B | $5.5B |
| 净利润 | — | $644.0M |
| 毛利率 | 5.8% | — |
| 营业利润率 | — | 15.4% |
| 净利率 | — | 11.7% |
| 营收同比 | -9.3% | 9.0% |
| 净利润同比 | — | 12.6% |
| 每股收益（稀释后） | $-2.16 | $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DOWTHC
| Q1 26 | $9.5B | — | ||
| Q4 25 | $9.5B | $5.5B | ||
| Q3 25 | $10.0B | $5.3B | ||
| Q2 25 | $10.1B | $5.3B | ||
| Q1 25 | $10.4B | $5.2B | ||
| Q4 24 | $10.4B | $5.1B | ||
| Q3 24 | $10.9B | $5.1B | ||
| Q2 24 | $10.9B | $5.1B |
净利润DOWTHC
| Q1 26 | — | — | ||
| Q4 25 | $-1.5B | $644.0M | ||
| Q3 25 | $62.0M | $579.0M | ||
| Q2 25 | $-835.0M | $522.0M | ||
| Q1 25 | $-307.0M | $622.0M | ||
| Q4 24 | $-35.0M | $572.0M | ||
| Q3 24 | $214.0M | $681.0M | ||
| Q2 24 | $439.0M | $477.0M |
毛利率DOWTHC
| Q1 26 | 5.8% | — | ||
| Q4 25 | 5.8% | — | ||
| Q3 25 | 7.3% | — | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 9.0% | — | ||
| Q3 24 | 9.8% | — | ||
| Q2 24 | 12.1% | — |
营业利润率DOWTHC
| Q1 26 | — | — | ||
| Q4 25 | -16.4% | 15.4% | ||
| Q3 25 | 0.7% | 16.8% | ||
| Q2 25 | -6.5% | 15.6% | ||
| Q1 25 | -3.6% | 18.1% | ||
| Q4 24 | 2.1% | 16.2% | ||
| Q3 24 | 3.0% | 21.3% | ||
| Q2 24 | 5.6% | 14.9% |
净利率DOWTHC
| Q1 26 | — | — | ||
| Q4 25 | -15.6% | 11.7% | ||
| Q3 25 | 0.6% | 10.9% | ||
| Q2 25 | -8.3% | 9.9% | ||
| Q1 25 | -2.9% | 11.9% | ||
| Q4 24 | -0.3% | 11.3% | ||
| Q3 24 | 2.0% | 13.3% | ||
| Q2 24 | 4.0% | 9.3% |
每股收益（稀释后）DOWTHC
| Q1 26 | $-2.16 | — | ||
| Q4 25 | $-2.16 | $4.22 | ||
| Q3 25 | $0.08 | $3.86 | ||
| Q2 25 | $-1.18 | $3.14 | ||
| Q1 25 | $-0.44 | $4.27 | ||
| Q4 24 | $-0.08 | $3.79 | ||
| Q3 24 | $0.30 | $4.89 | ||
| Q2 24 | $0.62 | $2.64 |
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 | $3.8B | $2.9B |
| 总债务越低越好 | $17.8B | $13.1B |
| 股东权益账面价值 | $16.0B | $4.2B |
| 总资产 | $58.5B | $29.7B |
| 负债/权益比越低杠杆越低 | 1.12× | 3.10× |
8季度趋势，按日历期对齐
现金及短期投资DOWTHC
| Q1 26 | $3.8B | — | ||
| Q4 25 | $3.8B | $2.9B | ||
| Q3 25 | $4.6B | $3.0B | ||
| Q2 25 | $2.4B | $2.6B | ||
| Q1 25 | $1.5B | $3.0B | ||
| Q4 24 | $2.2B | $3.0B | ||
| Q3 24 | $2.9B | $4.1B | ||
| Q2 24 | $3.3B | $2.9B |
总债务DOWTHC
| Q1 26 | $17.8B | — | ||
| Q4 25 | $17.8B | $13.1B | ||
| Q3 25 | $17.7B | $13.1B | ||
| Q2 25 | $16.2B | $13.1B | ||
| Q1 25 | $15.9B | $13.1B | ||
| Q4 24 | $15.7B | $13.1B | ||
| Q3 24 | $16.2B | $12.8B | ||
| Q2 24 | $16.0B | $12.8B |
股东权益DOWTHC
| Q1 26 | $16.0B | — | ||
| Q4 25 | $16.0B | $4.2B | ||
| Q3 25 | $17.5B | $4.0B | ||
| Q2 25 | $17.2B | $3.7B | ||
| Q1 25 | $16.8B | $4.2B | ||
| Q4 24 | $17.4B | $4.2B | ||
| Q3 24 | $18.3B | $3.8B | ||
| Q2 24 | $18.3B | $3.5B |
总资产DOWTHC
| Q1 26 | $58.5B | — | ||
| Q4 25 | $58.5B | $29.7B | ||
| Q3 25 | $61.0B | $29.4B | ||
| Q2 25 | $59.0B | $28.7B | ||
| Q1 25 | $57.5B | $29.2B | ||
| Q4 24 | $57.3B | $28.9B | ||
| Q3 24 | $59.4B | $29.4B | ||
| Q2 24 | $58.5B | $29.3B |
负债/权益比DOWTHC
| Q1 26 | 1.12× | — | ||
| Q4 25 | 1.12× | 3.10× | ||
| Q3 25 | 1.01× | 3.26× | ||
| Q2 25 | 0.94× | 3.49× | ||
| Q1 25 | 0.95× | 3.13× | ||
| Q4 24 | 0.91× | 3.14× | ||
| Q3 24 | 0.88× | 3.33× | ||
| Q2 24 | 0.87× | 3.67× |
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 | — | $731.0M |
| 自由现金流经营现金流 - 资本支出 | — | $367.0M |
| 自由现金流率自由现金流/营收 | — | 6.6% |
| 资本支出强度资本支出/营收 | — | 6.6% |
| 现金转化率经营现金流/净利润 | — | 1.14× |
| 过去12个月自由现金流最近4个季度 | — | $2.5B |
8季度趋势，按日历期对齐
经营现金流DOWTHC
| Q1 26 | — | — | ||
| Q4 25 | $284.0M | $731.0M | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $-470.0M | $936.0M | ||
| Q1 25 | $91.0M | $815.0M | ||
| Q4 24 | $814.0M | $-331.0M | ||
| Q3 24 | $800.0M | $1.0B | ||
| Q2 24 | $836.0M | $747.0M |
自由现金流DOWTHC
| Q1 26 | — | — | ||
| Q4 25 | $-284.0M | $367.0M | ||
| Q3 25 | $563.0M | $778.0M | ||
| Q2 25 | $-1.1B | $743.0M | ||
| Q1 25 | $-594.0M | $642.0M | ||
| Q4 24 | $47.0M | $-661.0M | ||
| Q3 24 | $64.0M | $829.0M | ||
| Q2 24 | $113.0M | $602.0M |
自由现金流率DOWTHC
| Q1 26 | — | — | ||
| Q4 25 | -3.0% | 6.6% | ||
| Q3 25 | 5.6% | 14.7% | ||
| Q2 25 | -11.2% | 14.1% | ||
| Q1 25 | -5.7% | 12.3% | ||
| Q4 24 | 0.5% | -13.0% | ||
| Q3 24 | 0.6% | 16.2% | ||
| Q2 24 | 1.0% | 11.8% |
资本支出强度DOWTHC
| Q1 26 | — | — | ||
| Q4 25 | 6.0% | 6.6% | ||
| Q3 25 | 5.7% | 5.3% | ||
| Q2 25 | 6.6% | 3.7% | ||
| Q1 25 | 6.6% | 3.3% | ||
| Q4 24 | 7.4% | 6.5% | ||
| Q3 24 | 6.8% | 4.2% | ||
| Q2 24 | 6.6% | 2.8% |
现金转化率DOWTHC
| Q1 26 | — | — | ||
| Q4 25 | — | 1.14× | ||
| Q3 25 | 18.18× | 1.83× | ||
| Q2 25 | — | 1.79× | ||
| Q1 25 | — | 1.31× | ||
| Q4 24 | — | -0.58× | ||
| Q3 24 | 3.74× | 1.53× | ||
| Q2 24 | 1.90× | 1.57× |
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
DOW
暂无分部数据
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% |
