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Encompass Health Corp（EHC）与GLOBAL PARTNERS LP（GLP）财务数据对比。点击上方公司名可切换其他公司
GLOBAL PARTNERS LP的季度营收约是Encompass Health Corp的1.4倍（$2.2B vs $1.5B），Encompass Health Corp净利率更高（9.5% vs 1.1%，领先8.3%），Encompass Health Corp同比增速更快（9.9% vs 7.0%），Encompass Health Corp自由现金流更多（$116.7M vs $62.2M），过去两年Encompass Health Corp的营收复合增速更高（8.3% vs 0.2%）
Encompass Health Corp前身为Amcare及HealthSouth，总部位于美国阿拉巴马州伯明翰，是美国规模最大的住院康复服务提供商，在39个州及波多黎各拥有173家住院康复医院，为中风、神经系统疾病、心肺病症、脑损伤等患者提供专业康复诊疗服务。
Global Partners LP是一家美国能源供应企业，2018年位列《财富》世界500强第361位，采用业主有限合伙制架构，核心业务为石油产品进口，深耕北美市场开展营销活动，批发的产品涵盖原油、柴油、汽油、取暖油及煤油等品类。
EHC vs GLP — 直观对比
营收规模更大
GLP
是对方的1.4倍
$1.5B
营收增速更快
EHC
高出3.0%
7.0%
净利率更高
EHC
高出8.3%
1.1%
自由现金流更多
EHC
多$54.5M
$62.2M
两年增速更快
EHC
近两年复合增速
0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $2.2B |
| 净利润 | $146.1M | $25.1M |
| 毛利率 | — | 11.9% |
| 营业利润率 | 16.7% | 2.6% |
| 净利率 | 9.5% | 1.1% |
| 营收同比 | 9.9% | 7.0% |
| 净利润同比 | 20.8% | 5.0% |
| 每股收益（稀释后） | $1.43 | — |
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EHCGLP
| Q4 25 | $1.5B | $2.2B | ||
| Q3 25 | $1.5B | $2.2B | ||
| Q2 25 | $1.5B | $2.1B | ||
| Q1 25 | $1.5B | $2.2B | ||
| Q4 24 | $1.4B | $2.1B | ||
| Q3 24 | $1.4B | $2.1B | ||
| Q2 24 | $1.3B | $2.3B | ||
| Q1 24 | $1.3B | $2.2B |
净利润EHCGLP
| Q4 25 | $146.1M | $25.1M | ||
| Q3 25 | $126.5M | $29.0M | ||
| Q2 25 | $142.1M | $25.2M | ||
| Q1 25 | $151.5M | $18.7M | ||
| Q4 24 | $120.9M | $23.9M | ||
| Q3 24 | $108.2M | $45.9M | ||
| Q2 24 | $114.1M | $46.1M | ||
| Q1 24 | $112.5M | $-5.6M |
毛利率EHCGLP
| Q4 25 | — | 11.9% | ||
| Q3 25 | — | 12.1% | ||
| Q2 25 | — | 13.1% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | — | 13.0% | ||
| Q3 24 | — | 13.4% | ||
| Q2 24 | — | 12.6% | ||
| Q1 24 | — | 9.8% |
营业利润率EHCGLP
| Q4 25 | 16.7% | 2.6% | ||
| Q3 25 | 14.9% | 2.7% | ||
| Q2 25 | 16.2% | 2.9% | ||
| Q1 25 | 16.4% | 2.6% | ||
| Q4 24 | 14.3% | 2.8% | ||
| Q3 24 | 13.6% | 3.9% | ||
| Q2 24 | 14.3% | 3.7% | ||
| Q1 24 | 13.6% | 1.2% |
净利率EHCGLP
| Q4 25 | 9.5% | 1.1% | ||
| Q3 25 | 8.6% | 1.3% | ||
| Q2 25 | 9.7% | 1.2% | ||
| Q1 25 | 10.4% | 0.9% | ||
| Q4 24 | 8.6% | 1.2% | ||
| Q3 24 | 8.0% | 2.1% | ||
| Q2 24 | 8.8% | 2.0% | ||
| Q1 24 | 8.5% | -0.3% |
每股收益（稀释后）EHCGLP
| Q4 25 | $1.43 | — | ||
| Q3 25 | $1.24 | — | ||
| Q2 25 | $1.39 | — | ||
| Q1 25 | $1.48 | — | ||
| Q4 24 | $1.18 | — | ||
| Q3 24 | $1.06 | — | ||
| Q2 24 | $1.12 | — | ||
| Q1 24 | $1.10 | — |
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 | $72.2M | — |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $2.4B | — |
| 总资产 | $7.1B | $3.9B |
| 负债/权益比越低杠杆越低 | 1.00× | — |
8季度趋势，按日历期对齐
现金及短期投资EHCGLP
| Q4 25 | $72.2M | — | ||
| Q3 25 | $48.7M | — | ||
| Q2 25 | $99.1M | — | ||
| Q1 25 | $95.8M | — | ||
| Q4 24 | $85.4M | — | ||
| Q3 24 | $147.8M | — | ||
| Q2 24 | $154.4M | — | ||
| Q1 24 | $134.4M | — |
总债务EHCGLP
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.7B | — |
股东权益EHCGLP
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $1.7B | — |
总资产EHCGLP
| Q4 25 | $7.1B | $3.9B | ||
| Q3 25 | $6.9B | $3.7B | ||
| Q2 25 | $6.8B | $3.8B | ||
| Q1 25 | $6.6B | $3.8B | ||
| Q4 24 | $6.5B | $3.8B | ||
| Q3 24 | $6.5B | $3.7B | ||
| Q2 24 | $6.4B | $3.8B | ||
| Q1 24 | $6.2B | $3.5B |
负债/权益比EHCGLP
| Q4 25 | 1.00× | — | ||
| Q3 25 | 1.01× | — | ||
| Q2 25 | 1.02× | — | ||
| Q1 25 | 1.08× | — | ||
| Q4 24 | 1.14× | — | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 1.46× | — | ||
| Q1 24 | 1.54× | — |
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 | $346.0M | $101.0M |
| 自由现金流经营现金流 - 资本支出 | $116.7M | $62.2M |
| 自由现金流率自由现金流/营收 | 7.6% | 2.8% |
| 资本支出强度资本支出/营收 | 14.8% | 1.8% |
| 现金转化率经营现金流/净利润 | 2.37× | 4.03× |
| 过去12个月自由现金流最近4个季度 | $439.2M | $193.3M |
8季度趋势，按日历期对齐
经营现金流EHCGLP
| Q4 25 | $346.0M | $101.0M | ||
| Q3 25 | $270.8M | $19.0M | ||
| Q2 25 | $270.2M | $216.3M | ||
| Q1 25 | $288.6M | $-51.6M | ||
| Q4 24 | $278.8M | $67.2M | ||
| Q3 24 | $267.8M | $122.7M | ||
| Q2 24 | $217.4M | $24.3M | ||
| Q1 24 | $238.8M | $-182.7M |
自由现金流EHCGLP
| Q4 25 | $116.7M | $62.2M | ||
| Q3 25 | $83.7M | $-678.0K | ||
| Q2 25 | $113.3M | $201.3M | ||
| Q1 25 | $125.5M | $-69.5M | ||
| Q4 24 | $80.1M | $20.4M | ||
| Q3 24 | $120.3M | $98.4M | ||
| Q2 24 | $60.5M | $8.7M | ||
| Q1 24 | $99.4M | $-199.3M |
自由现金流率EHCGLP
| Q4 25 | 7.6% | 2.8% | ||
| Q3 25 | 5.7% | -0.0% | ||
| Q2 25 | 7.8% | 9.7% | ||
| Q1 25 | 8.6% | -3.2% | ||
| Q4 24 | 5.7% | 1.0% | ||
| Q3 24 | 8.9% | 4.6% | ||
| Q2 24 | 4.6% | 0.4% | ||
| Q1 24 | 7.6% | -9.0% |
资本支出强度EHCGLP
| Q4 25 | 14.8% | 1.8% | ||
| Q3 25 | 12.7% | 0.9% | ||
| Q2 25 | 10.8% | 0.7% | ||
| Q1 25 | 11.2% | 0.8% | ||
| Q4 24 | 14.1% | 2.3% | ||
| Q3 24 | 10.9% | 1.1% | ||
| Q2 24 | 12.1% | 0.7% | ||
| Q1 24 | 10.6% | 0.8% |
现金转化率EHCGLP
| Q4 25 | 2.37× | 4.03× | ||
| Q3 25 | 2.14× | 0.66× | ||
| Q2 25 | 1.90× | 8.58× | ||
| Q1 25 | 1.90× | -2.76× | ||
| Q4 24 | 2.31× | 2.82× | ||
| Q3 24 | 2.48× | 2.67× | ||
| Q2 24 | 1.91× | 0.53× | ||
| Q1 24 | 2.12× | — |
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
EHC
| Medicare | $1.0B | 66% |
| Medicare Advantage | $243.1M | 16% |
| Managed Care | $160.7M | 10% |
| Medicaid | $47.0M | 3% |
| Other Income Source | $44.8M | 3% |
| Other Thirdparty Payors | $11.2M | 1% |
| Workers Compensation | $7.6M | 0% |
| Patients | $4.6M | 0% |
GLP
| Gasoline | $1.0B | 46% |
| Refined Petroleum Products Renewable Fuels Crude Oil And Propane | $884.7M | 40% |
| Commercial Segment | $187.6M | 8% |
| Station Operations | $110.5M | 5% |
