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德康医疗（DXCM）与北极星（PII）财务数据对比。点击上方公司名可切换其他公司
北极星的季度营收约是德康医疗的1.3倍（$1.7B vs $1.3B），德康医疗净利率更高（21.2% vs -2.8%，领先24.1%），德康医疗同比增速更快（21.6% vs 8.0%），过去两年德康医疗的营收复合增速更高（12.0% vs -8.0%）
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。
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
DXCM vs PII — 直观对比
营收规模更大
PII
是对方的1.3倍
$1.3B
营收增速更快
DXCM
高出13.6%
8.0%
净利率更高
DXCM
高出24.1%
-2.8%
两年增速更快
DXCM
近两年复合增速
-8.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.7B |
| 净利润 | $267.3M | $-47.2M |
| 毛利率 | 62.9% | 20.2% |
| 营业利润率 | 25.6% | — |
| 净利率 | 21.2% | -2.8% |
| 营收同比 | 21.6% | 8.0% |
| 净利润同比 | 153.6% | 29.2% |
| 每股收益（稀释后） | $0.67 | $-0.83 |
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DXCMPII
| Q1 26 | $1.3B | $1.7B | ||
| Q4 25 | $1.3B | $1.9B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $1.0B | $1.5B | ||
| Q4 24 | $1.1B | $1.8B | ||
| Q3 24 | $994.2M | $1.7B | ||
| Q2 24 | $1.0B | $2.0B |
净利润DXCMPII
| Q1 26 | $267.3M | $-47.2M | ||
| Q4 25 | $267.3M | $-303.6M | ||
| Q3 25 | $283.8M | $-15.8M | ||
| Q2 25 | $179.8M | $-79.3M | ||
| Q1 25 | $105.4M | $-66.8M | ||
| Q4 24 | $151.7M | $10.6M | ||
| Q3 24 | $134.6M | $27.7M | ||
| Q2 24 | $143.5M | $68.7M |
毛利率DXCMPII
| Q1 26 | 62.9% | 20.2% | ||
| Q4 25 | 62.9% | 20.0% | ||
| Q3 25 | 60.5% | 20.7% | ||
| Q2 25 | 59.5% | 19.4% | ||
| Q1 25 | 56.9% | 16.0% | ||
| Q4 24 | 58.9% | 20.4% | ||
| Q3 24 | 59.7% | 20.6% | ||
| Q2 24 | 62.4% | 21.6% |
营业利润率DXCMPII
| Q1 26 | 25.6% | — | ||
| Q4 25 | 25.6% | -16.7% | ||
| Q3 25 | 20.1% | 1.1% | ||
| Q2 25 | 18.4% | -0.7% | ||
| Q1 25 | 12.9% | -2.4% | ||
| Q4 24 | 17.0% | 3.7% | ||
| Q3 24 | 15.3% | 3.8% | ||
| Q2 24 | 15.7% | 6.1% |
净利率DXCMPII
| Q1 26 | 21.2% | -2.8% | ||
| Q4 25 | 21.2% | -15.8% | ||
| Q3 25 | 23.5% | -0.9% | ||
| Q2 25 | 15.5% | -4.3% | ||
| Q1 25 | 10.2% | -4.3% | ||
| Q4 24 | 13.6% | 0.6% | ||
| Q3 24 | 13.5% | 1.6% | ||
| Q2 24 | 14.3% | 3.5% |
每股收益（稀释后）DXCMPII
| Q1 26 | $0.67 | $-0.83 | ||
| Q4 25 | $0.67 | $-5.34 | ||
| Q3 25 | $0.70 | $-0.28 | ||
| Q2 25 | $0.45 | $-1.39 | ||
| Q1 25 | $0.27 | $-1.17 | ||
| Q4 24 | $0.37 | $0.18 | ||
| Q3 24 | $0.34 | $0.49 | ||
| Q2 24 | $0.35 | $1.21 |
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 | $282.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.7B | $750.4M |
| 总资产 | $6.3B | $5.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DXCMPII
| Q1 26 | $917.7M | $282.0M | ||
| Q4 25 | $917.7M | $138.0M | ||
| Q3 25 | $1.8B | $335.5M | ||
| Q2 25 | $1.2B | $324.3M | ||
| Q1 25 | $904.9M | $291.7M | ||
| Q4 24 | $606.1M | $287.8M | ||
| Q3 24 | $621.2M | $291.3M | ||
| Q2 24 | $939.2M | $322.7M |
总债务DXCMPII
| Q1 26 | — | — | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $2.1B |
股东权益DXCMPII
| Q1 26 | $2.7B | $750.4M | ||
| Q4 25 | $2.7B | $828.4M | ||
| Q3 25 | $2.7B | $1.1B | ||
| Q2 25 | $2.6B | $1.2B | ||
| Q1 25 | $2.3B | $1.2B | ||
| Q4 24 | $2.1B | $1.3B | ||
| Q3 24 | $2.0B | $1.3B | ||
| Q2 24 | $2.4B | $1.3B |
总资产DXCMPII
| Q1 26 | $6.3B | $5.2B | ||
| Q4 25 | $6.3B | $4.9B | ||
| Q3 25 | $7.5B | $5.3B | ||
| Q2 25 | $7.3B | $5.4B | ||
| Q1 25 | $6.8B | $5.5B | ||
| Q4 24 | $6.5B | $5.5B | ||
| Q3 24 | $6.4B | $5.6B | ||
| Q2 24 | $6.8B | $5.7B |
负债/权益比DXCMPII
| Q1 26 | — | — | ||
| Q4 25 | — | 1.82× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.56× |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | — | $-342.5M |
| 自由现金流率自由现金流/营收 | — | -20.6% |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | $168.0M |
8季度趋势，按日历期对齐
经营现金流DXCMPII
| Q1 26 | — | — | ||
| Q4 25 | $294.0M | $178.7M | ||
| Q3 25 | $659.9M | $158.8M | ||
| Q2 25 | $303.0M | $320.3M | ||
| Q1 25 | $183.8M | $83.2M | ||
| Q4 24 | $301.4M | $206.3M | ||
| Q3 24 | $199.5M | $21.0M | ||
| Q2 24 | $279.4M | $146.3M |
自由现金流DXCMPII
| Q1 26 | — | $-342.5M | ||
| Q4 25 | $192.1M | $114.0M | ||
| Q3 25 | $579.4M | $116.7M | ||
| Q2 25 | $208.9M | $279.8M | ||
| Q1 25 | $96.8M | $47.6M | ||
| Q4 24 | $176.8M | $137.3M | ||
| Q3 24 | $88.3M | $-32.4M | ||
| Q2 24 | $213.3M | $79.1M |
自由现金流率DXCMPII
| Q1 26 | — | -20.6% | ||
| Q4 25 | 15.3% | 5.9% | ||
| Q3 25 | 47.9% | 6.3% | ||
| Q2 25 | 18.1% | 15.1% | ||
| Q1 25 | 9.3% | 3.1% | ||
| Q4 24 | 15.9% | 7.8% | ||
| Q3 24 | 8.9% | -1.9% | ||
| Q2 24 | 21.2% | 4.0% |
资本支出强度DXCMPII
| Q1 26 | — | — | ||
| Q4 25 | 8.1% | 3.4% | ||
| Q3 25 | 6.7% | 2.3% | ||
| Q2 25 | 8.1% | 2.2% | ||
| Q1 25 | 8.4% | 2.3% | ||
| Q4 24 | 11.2% | 3.9% | ||
| Q3 24 | 11.2% | 3.1% | ||
| Q2 24 | 6.6% | 3.4% |
现金转化率DXCMPII
| Q1 26 | — | — | ||
| Q4 25 | 1.10× | — | ||
| Q3 25 | 2.33× | — | ||
| Q2 25 | 1.69× | — | ||
| Q1 25 | 1.74× | — | ||
| Q4 24 | 1.99× | 19.46× | ||
| Q3 24 | 1.48× | 0.76× | ||
| Q2 24 | 1.95× | 2.13× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
