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德康医疗（DXCM）与Paychex（PAYX）财务数据对比。点击上方公司名可切换其他公司
Paychex的季度营收约是德康医疗的1.2倍（$1.5B vs $1.3B），Paychex净利率更高（26.3% vs 21.2%，领先5.1%），德康医疗同比增速更快（21.6% vs 17.4%），过去两年德康医疗的营收复合增速更高（12.0% vs 3.8%）
德康医疗是美国跨国医疗保健企业，专注于研发、生产及销售糖尿病管理领域的连续血糖监测（CGM）系列系统。其全球总部及研发中心位于美国加利福尼亚州圣地亚哥，生产基地分布于美国亚利桑那州梅萨、马来西亚峇都交湾及爱尔兰戈尔韦郡阿斯里。
Paychex是美国知名人力资源服务提供商，1971年成立，总部位于纽约州罗切斯特，面向中小微企业提供薪资管理、人力资源外包、员工福利外包等服务。目前在美欧地区拥有超100个办事处，服务约80万家薪资客户，位列《财富》500强第681位。
DXCM vs PAYX — 直观对比
营收规模更大
PAYX
是对方的1.2倍
$1.3B
营收增速更快
DXCM
高出4.2%
17.4%
净利率更高
PAYX
高出5.1%
21.2%
两年增速更快
DXCM
近两年复合增速
3.8%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.5B |
| 净利润 | $267.3M | $395.4M |
| 毛利率 | 62.9% | 72.6% |
| 营业利润率 | 25.6% | 38.0% |
| 净利率 | 21.2% | 26.3% |
| 营收同比 | 21.6% | 17.4% |
| 净利润同比 | 153.6% | -4.4% |
| 每股收益（稀释后） | $0.67 | $1.10 |
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DXCMPAYX
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $1.5B | ||
| Q3 25 | $1.2B | $1.5B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.0B | $1.5B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $994.2M | $1.3B | ||
| Q2 24 | $1.0B | $1.3B |
净利润DXCMPAYX
| Q1 26 | $267.3M | — | ||
| Q4 25 | $267.3M | $395.4M | ||
| Q3 25 | $283.8M | $383.8M | ||
| Q2 25 | $179.8M | $297.2M | ||
| Q1 25 | $105.4M | $519.3M | ||
| Q4 24 | $151.7M | $413.4M | ||
| Q3 24 | $134.6M | $427.4M | ||
| Q2 24 | $143.5M | $379.9M |
毛利率DXCMPAYX
| Q1 26 | 62.9% | — | ||
| Q4 25 | 62.9% | 72.6% | ||
| Q3 25 | 60.5% | 72.3% | ||
| Q2 25 | 59.5% | 71.5% | ||
| Q1 25 | 56.9% | 73.6% | ||
| Q4 24 | 58.9% | 70.4% | ||
| Q3 24 | 59.7% | 70.3% | ||
| Q2 24 | 62.4% | 70.1% |
营业利润率DXCMPAYX
| Q1 26 | 25.6% | — | ||
| Q4 25 | 25.6% | 38.0% | ||
| Q3 25 | 20.1% | 36.3% | ||
| Q2 25 | 18.4% | 31.2% | ||
| Q1 25 | 12.9% | 47.2% | ||
| Q4 24 | 17.0% | 42.0% | ||
| Q3 24 | 15.3% | 42.7% | ||
| Q2 24 | 15.7% | 38.3% |
净利率DXCMPAYX
| Q1 26 | 21.2% | — | ||
| Q4 25 | 21.2% | 26.3% | ||
| Q3 25 | 23.5% | 25.7% | ||
| Q2 25 | 15.5% | 21.5% | ||
| Q1 25 | 10.2% | 35.4% | ||
| Q4 24 | 13.6% | 32.3% | ||
| Q3 24 | 13.5% | 33.4% | ||
| Q2 24 | 14.3% | 30.2% |
每股收益（稀释后）DXCMPAYX
| Q1 26 | $0.67 | — | ||
| Q4 25 | $0.67 | $1.10 | ||
| Q3 25 | $0.70 | $1.06 | ||
| Q2 25 | $0.45 | $0.83 | ||
| Q1 25 | $0.27 | $1.43 | ||
| Q4 24 | $0.37 | $1.14 | ||
| Q3 24 | $0.34 | $1.18 | ||
| Q2 24 | $0.35 | $1.05 |
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 | $917.7M | $1.5B |
| 总债务越低越好 | — | $5.0B |
| 股东权益账面价值 | $2.7B | $3.9B |
| 总资产 | $6.3B | $16.5B |
| 负债/权益比越低杠杆越低 | — | 1.28× |
8季度趋势，按日历期对齐
现金及短期投资DXCMPAYX
| Q1 26 | $917.7M | — | ||
| Q4 25 | $917.7M | $1.5B | ||
| Q3 25 | $1.8B | $1.7B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $904.9M | $1.6B | ||
| Q4 24 | $606.1M | $1.2B | ||
| Q3 24 | $621.2M | $1.5B | ||
| Q2 24 | $939.2M | $1.5B |
总债务DXCMPAYX
| Q1 26 | — | — | ||
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $4.9B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $798.6M |
股东权益DXCMPAYX
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $3.9B | ||
| Q3 25 | $2.7B | $4.0B | ||
| Q2 25 | $2.6B | $4.1B | ||
| Q1 25 | $2.3B | $4.1B | ||
| Q4 24 | $2.1B | $3.9B | ||
| Q3 24 | $2.0B | $3.9B | ||
| Q2 24 | $2.4B | $3.8B |
总资产DXCMPAYX
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.3B | $16.5B | ||
| Q3 25 | $7.5B | $16.7B | ||
| Q2 25 | $7.3B | $16.6B | ||
| Q1 25 | $6.8B | $11.2B | ||
| Q4 24 | $6.5B | $10.6B | ||
| Q3 24 | $6.4B | $10.5B | ||
| Q2 24 | $6.8B | $10.4B |
负债/权益比DXCMPAYX
| Q1 26 | — | — | ||
| Q4 25 | — | 1.28× | ||
| Q3 25 | — | 1.25× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.21× |
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 | — | $444.9M |
| 自由现金流经营现金流 - 资本支出 | — | $382.8M |
| 自由现金流率自由现金流/营收 | — | 25.5% |
| 资本支出强度资本支出/营收 | — | 4.1% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | — | $2.0B |
8季度趋势，按日历期对齐
经营现金流DXCMPAYX
| Q1 26 | — | — | ||
| Q4 25 | $294.0M | $444.9M | ||
| Q3 25 | $659.9M | $718.4M | ||
| Q2 25 | $303.0M | $343.8M | ||
| Q1 25 | $183.8M | $716.0M | ||
| Q4 24 | $301.4M | $295.0M | ||
| Q3 24 | $199.5M | $546.1M | ||
| Q2 24 | $279.4M | $221.7M |
自由现金流DXCMPAYX
| Q1 26 | — | — | ||
| Q4 25 | $192.1M | $382.8M | ||
| Q3 25 | $579.4M | $662.5M | ||
| Q2 25 | $208.9M | $283.3M | ||
| Q1 25 | $96.8M | $667.3M | ||
| Q4 24 | $176.8M | $248.0M | ||
| Q3 24 | $88.3M | $510.5M | ||
| Q2 24 | $213.3M | $180.4M |
自由现金流率DXCMPAYX
| Q1 26 | — | — | ||
| Q4 25 | 15.3% | 25.5% | ||
| Q3 25 | 47.9% | 44.4% | ||
| Q2 25 | 18.1% | 20.5% | ||
| Q1 25 | 9.3% | 45.5% | ||
| Q4 24 | 15.9% | 19.4% | ||
| Q3 24 | 8.9% | 39.9% | ||
| Q2 24 | 21.2% | 14.4% |
资本支出强度DXCMPAYX
| Q1 26 | — | — | ||
| Q4 25 | 8.1% | 4.1% | ||
| Q3 25 | 6.7% | 3.7% | ||
| Q2 25 | 8.1% | 4.4% | ||
| Q1 25 | 8.4% | 3.3% | ||
| Q4 24 | 11.2% | 3.7% | ||
| Q3 24 | 11.2% | 2.8% | ||
| Q2 24 | 6.6% | 3.3% |
现金转化率DXCMPAYX
| Q1 26 | — | — | ||
| Q4 25 | 1.10× | 1.13× | ||
| Q3 25 | 2.33× | 1.87× | ||
| Q2 25 | 1.69× | 1.16× | ||
| Q1 25 | 1.74× | 1.38× | ||
| Q4 24 | 1.99× | 0.71× | ||
| Q3 24 | 1.48× | 1.28× | ||
| Q2 24 | 1.95× | 0.58× |
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
DXCM
暂无分部数据
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
