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德康医疗（DXCM）与WATSCO INC（WSO）财务数据对比。点击上方公司名可切换其他公司
WATSCO INC的季度营收约是德康医疗的1.3倍（$1.6B vs $1.3B），德康医疗净利率更高（21.2% vs 4.5%，领先16.7%），德康医疗同比增速更快（21.6% vs -10.0%），过去两年德康医疗的营收复合增速更高（12.0% vs 0.4%）
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。
Watsco Inc.是美国暖通空调、供暖及制冷（HVAC/R）设备及相关零部件、耗材的专业分销商。公司成立至今已超60年，最初主营HVAC/R行业相关零部件、工具制造业务，1989年通过收购佛罗里达州南部的瑞姆品牌分销商Gemaire Distributors Inc，正式从制造赛道转向分销领域。
DXCM vs WSO — 直观对比
营收规模更大
WSO
是对方的1.3倍
$1.3B
营收增速更快
DXCM
高出31.6%
-10.0%
净利率更高
DXCM
高出16.7%
4.5%
两年增速更快
DXCM
近两年复合增速
0.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.6B |
| 净利润 | $267.3M | $71.7M |
| 毛利率 | 62.9% | 27.1% |
| 营业利润率 | 25.6% | 6.4% |
| 净利率 | 21.2% | 4.5% |
| 营收同比 | 21.6% | -10.0% |
| 净利润同比 | 153.6% | -25.9% |
| 每股收益（稀释后） | $0.67 | $1.82 |
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DXCMWSO
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $1.6B | ||
| Q3 25 | $1.2B | $2.1B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | $1.0B | $1.5B | ||
| Q4 24 | $1.1B | $1.8B | ||
| Q3 24 | $994.2M | $2.2B | ||
| Q2 24 | $1.0B | $2.1B |
净利润DXCMWSO
| Q1 26 | $267.3M | — | ||
| Q4 25 | $267.3M | $71.7M | ||
| Q3 25 | $283.8M | $161.6M | ||
| Q2 25 | $179.8M | $183.6M | ||
| Q1 25 | $105.4M | $80.1M | ||
| Q4 24 | $151.7M | $96.8M | ||
| Q3 24 | $134.6M | $171.0M | ||
| Q2 24 | $143.5M | $181.4M |
毛利率DXCMWSO
| Q1 26 | 62.9% | — | ||
| Q4 25 | 62.9% | 27.1% | ||
| Q3 25 | 60.5% | 27.5% | ||
| Q2 25 | 59.5% | 29.3% | ||
| Q1 25 | 56.9% | 28.1% | ||
| Q4 24 | 58.9% | 26.7% | ||
| Q3 24 | 59.7% | 26.2% | ||
| Q2 24 | 62.4% | 27.1% |
营业利润率DXCMWSO
| Q1 26 | 25.6% | — | ||
| Q4 25 | 25.6% | 6.4% | ||
| Q3 25 | 20.1% | 11.4% | ||
| Q2 25 | 18.4% | 13.2% | ||
| Q1 25 | 12.9% | 7.3% | ||
| Q4 24 | 17.0% | 7.8% | ||
| Q3 24 | 15.3% | 11.6% | ||
| Q2 24 | 15.7% | 12.6% |
净利率DXCMWSO
| Q1 26 | 21.2% | — | ||
| Q4 25 | 21.2% | 4.5% | ||
| Q3 25 | 23.5% | 7.8% | ||
| Q2 25 | 15.5% | 8.9% | ||
| Q1 25 | 10.2% | 5.2% | ||
| Q4 24 | 13.6% | 5.5% | ||
| Q3 24 | 13.5% | 7.9% | ||
| Q2 24 | 14.3% | 8.5% |
每股收益（稀释后）DXCMWSO
| Q1 26 | $0.67 | — | ||
| Q4 25 | $0.67 | $1.82 | ||
| Q3 25 | $0.70 | $3.98 | ||
| Q2 25 | $0.45 | $4.52 | ||
| Q1 25 | $0.27 | $1.93 | ||
| Q4 24 | $0.37 | $2.42 | ||
| Q3 24 | $0.34 | $4.22 | ||
| Q2 24 | $0.35 | $4.49 |
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 | $733.3M |
| 总债务越低越好 | — | $361.6M |
| 股东权益账面价值 | $2.7B | $2.8B |
| 总资产 | $6.3B | $4.4B |
| 负债/权益比越低杠杆越低 | — | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资DXCMWSO
| Q1 26 | $917.7M | — | ||
| Q4 25 | $917.7M | $733.3M | ||
| Q3 25 | $1.8B | $524.3M | ||
| Q2 25 | $1.2B | $293.0M | ||
| Q1 25 | $904.9M | $431.8M | ||
| Q4 24 | $606.1M | $781.9M | ||
| Q3 24 | $621.2M | $550.0M | ||
| Q2 24 | $939.2M | $424.9M |
总债务DXCMWSO
| Q1 26 | — | — | ||
| Q4 25 | — | $361.6M | ||
| Q3 25 | — | $340.8M | ||
| Q2 25 | — | $338.7M | ||
| Q1 25 | — | $346.4M | ||
| Q4 24 | — | $337.2M | ||
| Q3 24 | — | $321.0M | ||
| Q2 24 | — | $307.1M |
股东权益DXCMWSO
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $2.8B | ||
| Q3 25 | $2.7B | $2.8B | ||
| Q2 25 | $2.6B | $2.8B | ||
| Q1 25 | $2.3B | $2.7B | ||
| Q4 24 | $2.1B | $2.7B | ||
| Q3 24 | $2.0B | $2.7B | ||
| Q2 24 | $2.4B | $2.6B |
总资产DXCMWSO
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.3B | $4.4B | ||
| Q3 25 | $7.5B | $4.6B | ||
| Q2 25 | $7.3B | $4.7B | ||
| Q1 25 | $6.8B | $4.5B | ||
| Q4 24 | $6.5B | $4.5B | ||
| Q3 24 | $6.4B | $4.5B | ||
| Q2 24 | $6.8B | $4.4B |
负债/权益比DXCMWSO
| Q1 26 | — | — | ||
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× |
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 | — | $399.8M |
| 自由现金流经营现金流 - 资本支出 | — | $388.5M |
| 自由现金流率自由现金流/营收 | — | 24.6% |
| 资本支出强度资本支出/营收 | — | 0.7% |
| 现金转化率经营现金流/净利润 | — | 5.57× |
| 过去12个月自由现金流最近4个季度 | — | $535.1M |
8季度趋势，按日历期对齐
经营现金流DXCMWSO
| Q1 26 | — | — | ||
| Q4 25 | $294.0M | $399.8M | ||
| Q3 25 | $659.9M | $354.9M | ||
| Q2 25 | $303.0M | $-7.4M | ||
| Q1 25 | $183.8M | $-177.6M | ||
| Q4 24 | $301.4M | $378.9M | ||
| Q3 24 | $199.5M | $232.8M | ||
| Q2 24 | $279.4M | $57.7M |
自由现金流DXCMWSO
| Q1 26 | — | — | ||
| Q4 25 | $192.1M | $388.5M | ||
| Q3 25 | $579.4M | $346.1M | ||
| Q2 25 | $208.9M | $-14.3M | ||
| Q1 25 | $96.8M | $-185.2M | ||
| Q4 24 | $176.8M | $370.9M | ||
| Q3 24 | $88.3M | $223.0M | ||
| Q2 24 | $213.3M | $51.3M |
自由现金流率DXCMWSO
| Q1 26 | — | — | ||
| Q4 25 | 15.3% | 24.6% | ||
| Q3 25 | 47.9% | 16.7% | ||
| Q2 25 | 18.1% | -0.7% | ||
| Q1 25 | 9.3% | -12.1% | ||
| Q4 24 | 15.9% | 21.1% | ||
| Q3 24 | 8.9% | 10.3% | ||
| Q2 24 | 21.2% | 2.4% |
资本支出强度DXCMWSO
| Q1 26 | — | — | ||
| Q4 25 | 8.1% | 0.7% | ||
| Q3 25 | 6.7% | 0.4% | ||
| Q2 25 | 8.1% | 0.3% | ||
| Q1 25 | 8.4% | 0.5% | ||
| Q4 24 | 11.2% | 0.5% | ||
| Q3 24 | 11.2% | 0.5% | ||
| Q2 24 | 6.6% | 0.3% |
现金转化率DXCMWSO
| Q1 26 | — | — | ||
| Q4 25 | 1.10× | 5.57× | ||
| Q3 25 | 2.33× | 2.20× | ||
| Q2 25 | 1.69× | -0.04× | ||
| Q1 25 | 1.74× | -2.22× | ||
| Q4 24 | 1.99× | 3.91× | ||
| Q3 24 | 1.48× | 1.36× | ||
| Q2 24 | 1.95× | 0.32× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
