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德康医疗（DXCM）与华纳音乐集团（WMG）财务数据对比。点击上方公司名可切换其他公司
华纳音乐集团的季度营收约是德康医疗的1.5倍（$1.8B vs $1.3B），德康医疗净利率更高（21.2% vs 9.6%，领先11.7%），德康医疗同比增速更快（21.6% vs 10.4%），过去两年德康医疗的营收复合增速更高（12.0% vs 11.0%）
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。
华纳音乐集团（简称WMG）是总部位于美国纽约的跨国娱乐及唱片集团，属于全球唱片行业“三大巨头”之一，市场规模位居全球音乐行业第三位，仅次于环球音乐集团与索尼音乐娱乐。
DXCM vs WMG — 直观对比
营收规模更大
WMG
是对方的1.5倍
$1.3B
营收增速更快
DXCM
高出11.1%
10.4%
净利率更高
DXCM
高出11.7%
9.6%
两年增速更快
DXCM
近两年复合增速
11.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.8B |
| 净利润 | $267.3M | $176.0M |
| 毛利率 | 62.9% | 46.4% |
| 营业利润率 | 25.6% | 15.7% |
| 净利率 | 21.2% | 9.6% |
| 营收同比 | 21.6% | 10.4% |
| 净利润同比 | 153.6% | -25.4% |
| 每股收益（稀释后） | $0.67 | — |
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DXCMWMG
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $1.8B | ||
| Q3 25 | $1.2B | $1.9B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.0B | $1.5B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $994.2M | $1.6B | ||
| Q2 24 | $1.0B | $1.6B |
净利润DXCMWMG
| Q1 26 | $267.3M | — | ||
| Q4 25 | $267.3M | $176.0M | ||
| Q3 25 | $283.8M | $109.0M | ||
| Q2 25 | $179.8M | $-16.0M | ||
| Q1 25 | $105.4M | $36.0M | ||
| Q4 24 | $151.7M | $236.0M | ||
| Q3 24 | $134.6M | $41.0M | ||
| Q2 24 | $143.5M | $139.0M |
毛利率DXCMWMG
| Q1 26 | 62.9% | — | ||
| Q4 25 | 62.9% | 46.4% | ||
| Q3 25 | 60.5% | 44.6% | ||
| Q2 25 | 59.5% | 45.9% | ||
| Q1 25 | 56.9% | 46.7% | ||
| Q4 24 | 58.9% | 46.3% | ||
| Q3 24 | 59.7% | 47.6% | ||
| Q2 24 | 62.4% | 46.6% |
营业利润率DXCMWMG
| Q1 26 | 25.6% | — | ||
| Q4 25 | 25.6% | 15.7% | ||
| Q3 25 | 20.1% | 7.7% | ||
| Q2 25 | 18.4% | 10.0% | ||
| Q1 25 | 12.9% | 11.3% | ||
| Q4 24 | 17.0% | 12.8% | ||
| Q3 24 | 15.3% | 8.8% | ||
| Q2 24 | 15.7% | 13.3% |
净利率DXCMWMG
| Q1 26 | 21.2% | — | ||
| Q4 25 | 21.2% | 9.6% | ||
| Q3 25 | 23.5% | 5.8% | ||
| Q2 25 | 15.5% | -0.9% | ||
| Q1 25 | 10.2% | 2.4% | ||
| Q4 24 | 13.6% | 14.2% | ||
| Q3 24 | 13.5% | 2.5% | ||
| Q2 24 | 14.3% | 8.9% |
每股收益（稀释后）DXCMWMG
| Q1 26 | $0.67 | — | ||
| Q4 25 | $0.67 | — | ||
| Q3 25 | $0.70 | — | ||
| Q2 25 | $0.45 | — | ||
| Q1 25 | $0.27 | — | ||
| Q4 24 | $0.37 | — | ||
| Q3 24 | $0.34 | — | ||
| Q2 24 | $0.35 | — |
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 | $751.0M |
| 总债务越低越好 | — | $4.4B |
| 股东权益账面价值 | $2.7B | $720.0M |
| 总资产 | $6.3B | $10.0B |
| 负债/权益比越低杠杆越低 | — | 6.07× |
8季度趋势，按日历期对齐
现金及短期投资DXCMWMG
| Q1 26 | $917.7M | — | ||
| Q4 25 | $917.7M | $751.0M | ||
| Q3 25 | $1.8B | $532.0M | ||
| Q2 25 | $1.2B | $527.0M | ||
| Q1 25 | $904.9M | $637.0M | ||
| Q4 24 | $606.1M | $802.0M | ||
| Q3 24 | $621.2M | $694.0M | ||
| Q2 24 | $939.2M | $607.0M |
总债务DXCMWMG
| Q1 26 | — | — | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | — | $4.4B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.0B |
股东权益DXCMWMG
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $720.0M | ||
| Q3 25 | $2.7B | $647.0M | ||
| Q2 25 | $2.6B | $589.0M | ||
| Q1 25 | $2.3B | $567.0M | ||
| Q4 24 | $2.1B | $545.0M | ||
| Q3 24 | $2.0B | $518.0M | ||
| Q2 24 | $2.4B | $483.0M |
总资产DXCMWMG
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.3B | $10.0B | ||
| Q3 25 | $7.5B | $9.8B | ||
| Q2 25 | $7.3B | $9.8B | ||
| Q1 25 | $6.8B | $9.6B | ||
| Q4 24 | $6.5B | $9.1B | ||
| Q3 24 | $6.4B | $9.2B | ||
| Q2 24 | $6.8B | $8.8B |
负债/权益比DXCMWMG
| Q1 26 | — | — | ||
| Q4 25 | — | 6.07× | ||
| Q3 25 | — | 6.75× | ||
| Q2 25 | — | 7.41× | ||
| Q1 25 | — | 7.57× | ||
| Q4 24 | — | 7.26× | ||
| Q3 24 | — | 7.75× | ||
| Q2 24 | — | 8.24× |
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 | — | $440.0M |
| 自由现金流经营现金流 - 资本支出 | — | $420.0M |
| 自由现金流率自由现金流/营收 | — | 22.8% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | — | 2.50× |
| 过去12个月自由现金流最近4个季度 | — | $663.0M |
8季度趋势，按日历期对齐
经营现金流DXCMWMG
| Q1 26 | — | — | ||
| Q4 25 | $294.0M | $440.0M | ||
| Q3 25 | $659.9M | $231.0M | ||
| Q2 25 | $303.0M | $46.0M | ||
| Q1 25 | $183.8M | $69.0M | ||
| Q4 24 | $301.4M | $332.0M | ||
| Q3 24 | $199.5M | $304.0M | ||
| Q2 24 | $279.4M | $188.0M |
自由现金流DXCMWMG
| Q1 26 | — | — | ||
| Q4 25 | $192.1M | $420.0M | ||
| Q3 25 | $579.4M | $203.0M | ||
| Q2 25 | $208.9M | $7.0M | ||
| Q1 25 | $96.8M | $33.0M | ||
| Q4 24 | $176.8M | $296.0M | ||
| Q3 24 | $88.3M | $271.0M | ||
| Q2 24 | $213.3M | $160.0M |
自由现金流率DXCMWMG
| Q1 26 | — | — | ||
| Q4 25 | 15.3% | 22.8% | ||
| Q3 25 | 47.9% | 10.9% | ||
| Q2 25 | 18.1% | 0.4% | ||
| Q1 25 | 9.3% | 2.2% | ||
| Q4 24 | 15.9% | 17.8% | ||
| Q3 24 | 8.9% | 16.6% | ||
| Q2 24 | 21.2% | 10.3% |
资本支出强度DXCMWMG
| Q1 26 | — | — | ||
| Q4 25 | 8.1% | 1.1% | ||
| Q3 25 | 6.7% | 1.5% | ||
| Q2 25 | 8.1% | 2.3% | ||
| Q1 25 | 8.4% | 2.4% | ||
| Q4 24 | 11.2% | 2.2% | ||
| Q3 24 | 11.2% | 2.0% | ||
| Q2 24 | 6.6% | 1.8% |
现金转化率DXCMWMG
| Q1 26 | — | — | ||
| Q4 25 | 1.10× | 2.50× | ||
| Q3 25 | 2.33× | 2.12× | ||
| Q2 25 | 1.69× | — | ||
| Q1 25 | 1.74× | 1.92× | ||
| Q4 24 | 1.99× | 1.41× | ||
| Q3 24 | 1.48× | 7.41× | ||
| Q2 24 | 1.95× | 1.35× |
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
WMG
| Digital | $976.0M | 53% |
| Music Publishing | $362.0M | 20% |
| Artist Services And Expanded Rights | $231.0M | 13% |
| Licensing | $121.0M | 7% |
| Performance | $64.0M | 3% |
| Synchronization | $60.0M | 3% |
| Mechanical | $18.0M | 1% |
| Other | $5.0M | 0% |
