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达维塔（DVA）与国际纸业（IP）财务数据对比。点击上方公司名可切换其他公司
国际纸业的季度营收约是达维塔的1.3倍（$4.7B vs $3.6B），达维塔净利率更高（6.5% vs -50.3%，领先56.7%），达维塔同比增速更快（12.3% vs 3.6%），过去两年达维塔的营收复合增速更高（6.6% vs 1.3%）
达维塔是美国肾脏透析服务提供商，在美国运营2675家门诊中心，服务20.08万名患者；同时在其他11个国家布局367家门诊中心，服务4.94万名患者。公司主要服务终末期肾病患者，这类患者除非接受捐肾移植，否则通常需要终生每周接受三次透析治疗。
国际纸业是总部位于美国田纳西州孟菲斯的纸浆及造纸企业，为全球规模最大的同类型企业，目前拥有约3.9万名员工，产品覆盖纸浆、包装用纸、办公用纸等品类，业务遍及全球多个国家和地区，广泛服务各行业客户的相关需求。
DVA vs IP — 直观对比
营收规模更大
IP
是对方的1.3倍
$3.6B
营收增速更快
DVA
高出8.7%
3.6%
净利率更高
DVA
高出56.7%
-50.3%
两年增速更快
DVA
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $4.7B |
| 净利润 | $234.2M | $-2.4B |
| 毛利率 | — | 32.2% |
| 营业利润率 | 15.5% | -56.4% |
| 净利率 | 6.5% | -50.3% |
| 营收同比 | 12.3% | 3.6% |
| 净利润同比 | 43.8% | -1521.8% |
| 每股收益（稀释后） | $3.22 | $-4.76 |
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DVAIP
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | $4.7B | ||
| Q3 25 | $3.4B | $6.2B | ||
| Q2 25 | $3.4B | $6.8B | ||
| Q1 25 | $3.2B | $5.9B | ||
| Q4 24 | $3.3B | $4.6B | ||
| Q3 24 | $3.3B | $4.7B | ||
| Q2 24 | $3.2B | $4.7B |
净利润DVAIP
| Q1 26 | $234.2M | — | ||
| Q4 25 | $234.2M | $-2.4B | ||
| Q3 25 | $150.3M | $-1.1B | ||
| Q2 25 | $199.3M | $75.0M | ||
| Q1 25 | $162.9M | $-105.0M | ||
| Q4 24 | $259.3M | $-147.0M | ||
| Q3 24 | $214.7M | $150.0M | ||
| Q2 24 | $222.7M | $498.0M |
毛利率DVAIP
| Q1 26 | — | — | ||
| Q4 25 | — | 32.2% | ||
| Q3 25 | — | 31.1% | ||
| Q2 25 | — | 27.9% | ||
| Q1 25 | — | 27.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 28.7% | ||
| Q2 24 | — | 29.0% |
营业利润率DVAIP
| Q1 26 | 15.5% | — | ||
| Q4 25 | 15.5% | -56.4% | ||
| Q3 25 | 14.8% | -10.8% | ||
| Q2 25 | 15.9% | 1.7% | ||
| Q1 25 | 13.6% | -2.3% | ||
| Q4 24 | 17.2% | -4.9% | ||
| Q3 24 | 16.4% | 5.1% | ||
| Q2 24 | 15.9% | 6.8% |
净利率DVAIP
| Q1 26 | 6.5% | — | ||
| Q4 25 | 6.5% | -50.3% | ||
| Q3 25 | 4.4% | -17.7% | ||
| Q2 25 | 5.9% | 1.1% | ||
| Q1 25 | 5.1% | -1.8% | ||
| Q4 24 | 7.9% | -3.2% | ||
| Q3 24 | 6.6% | 3.2% | ||
| Q2 24 | 7.0% | 10.5% |
每股收益（稀释后）DVAIP
| Q1 26 | $3.22 | — | ||
| Q4 25 | $3.22 | $-4.76 | ||
| Q3 25 | $2.04 | $-2.09 | ||
| Q2 25 | $2.58 | $0.14 | ||
| Q1 25 | $2.00 | $-0.24 | ||
| Q4 24 | $3.08 | $-0.42 | ||
| Q3 24 | $2.50 | $0.42 | ||
| Q2 24 | $2.50 | $1.41 |
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 | $700.7M | $1.1B |
| 总债务越低越好 | $10.2B | $8.8B |
| 股东权益账面价值 | $-651.1M | $14.8B |
| 总资产 | $17.5B | $38.0B |
| 负债/权益比越低杠杆越低 | — | 0.60× |
8季度趋势，按日历期对齐
现金及短期投资DVAIP
| Q1 26 | $700.7M | — | ||
| Q4 25 | $700.7M | $1.1B | ||
| Q3 25 | $736.5M | $995.0M | ||
| Q2 25 | $739.4M | $1.1B | ||
| Q1 25 | $511.9M | $1.2B | ||
| Q4 24 | $846.0M | $1.2B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $437.2M | $1.0B |
总债务DVAIP
| Q1 26 | $10.2B | — | ||
| Q4 25 | $10.2B | $8.8B | ||
| Q3 25 | $10.2B | $9.0B | ||
| Q2 25 | $10.1B | $9.7B | ||
| Q1 25 | $9.6B | $9.2B | ||
| Q4 24 | $9.2B | $5.4B | ||
| Q3 24 | $9.3B | $5.3B | ||
| Q2 24 | $8.5B | $5.3B |
股东权益DVAIP
| Q1 26 | $-651.1M | — | ||
| Q4 25 | $-651.1M | $14.8B | ||
| Q3 25 | $-571.9M | $17.3B | ||
| Q2 25 | $-369.6M | $18.6B | ||
| Q1 25 | $-267.1M | $18.1B | ||
| Q4 24 | $121.1M | $8.2B | ||
| Q3 24 | $386.7M | $8.6B | ||
| Q2 24 | $632.9M | $8.6B |
总资产DVAIP
| Q1 26 | $17.5B | — | ||
| Q4 25 | $17.5B | $38.0B | ||
| Q3 25 | $17.6B | $40.6B | ||
| Q2 25 | $17.5B | $42.4B | ||
| Q1 25 | $17.1B | $41.2B | ||
| Q4 24 | $17.3B | $22.8B | ||
| Q3 24 | $17.5B | $23.2B | ||
| Q2 24 | $17.0B | $23.1B |
负债/权益比DVAIP
| Q1 26 | — | — | ||
| Q4 25 | — | 0.60× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | 75.76× | 0.66× | ||
| Q3 24 | 23.95× | 0.62× | ||
| Q2 24 | 13.35× | 0.62× |
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 | — | $905.0M |
| 自由现金流经营现金流 - 资本支出 | — | $255.0M |
| 自由现金流率自由现金流/营收 | — | 5.4% |
| 资本支出强度资本支出/营收 | — | 13.7% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $-159.0M |
8季度趋势，按日历期对齐
经营现金流DVAIP
| Q1 26 | — | — | ||
| Q4 25 | $540.7M | $905.0M | ||
| Q3 25 | $841.5M | $605.0M | ||
| Q2 25 | $324.2M | $476.0M | ||
| Q1 25 | $180.0M | $-288.0M | ||
| Q4 24 | $547.6M | $397.0M | ||
| Q3 24 | $810.4M | $521.0M | ||
| Q2 24 | $798.8M | $365.0M |
自由现金流DVAIP
| Q1 26 | — | — | ||
| Q4 25 | $395.3M | $255.0M | ||
| Q3 25 | $675.4M | $150.0M | ||
| Q2 25 | $203.1M | $54.0M | ||
| Q1 25 | $36.8M | $-618.0M | ||
| Q4 24 | $377.0M | $137.0M | ||
| Q3 24 | $671.4M | $309.0M | ||
| Q2 24 | $674.1M | $167.0M |
自由现金流率DVAIP
| Q1 26 | — | — | ||
| Q4 25 | 10.9% | 5.4% | ||
| Q3 25 | 19.7% | 2.4% | ||
| Q2 25 | 6.0% | 0.8% | ||
| Q1 25 | 1.1% | -10.5% | ||
| Q4 24 | 11.4% | 3.0% | ||
| Q3 24 | 20.6% | 6.6% | ||
| Q2 24 | 21.2% | 3.5% |
资本支出强度DVAIP
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 13.7% | ||
| Q3 25 | 4.9% | 7.3% | ||
| Q2 25 | 3.6% | 6.2% | ||
| Q1 25 | 4.4% | 5.6% | ||
| Q4 24 | 5.2% | 5.7% | ||
| Q3 24 | 4.3% | 4.5% | ||
| Q2 24 | 3.9% | 4.2% |
现金转化率DVAIP
| Q1 26 | — | — | ||
| Q4 25 | 2.31× | — | ||
| Q3 25 | 5.60× | — | ||
| Q2 25 | 1.63× | 6.35× | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 2.11× | — | ||
| Q3 24 | 3.77× | 3.47× | ||
| Q2 24 | 3.59× | 0.73× |
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
DVA
暂无分部数据
IP
| Other | $2.4B | 52% |
| DS Smith Packaging | $2.3B | 48% |
