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Encompass Health Corp（EHC）与国际香精香料（IFF）财务数据对比。点击上方公司名可切换其他公司
国际香精香料的季度营收约是Encompass Health Corp的1.7倍（$2.6B vs $1.5B），Encompass Health Corp净利率更高（9.5% vs 0.2%，领先9.3%），Encompass Health Corp同比增速更快（9.9% vs -6.6%），国际香精香料自由现金流更多（$130.0M vs $116.7M），过去两年Encompass Health Corp的营收复合增速更高（8.3% vs -5.5%）
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。
国际香精香料（IFF）是美国知名企业，业务覆盖风味、质感、香氛、营养、酶制剂、菌种、大豆蛋白、益生菌等多品类产品研发，产品行销全球。公司总部位于纽约，在44个国家设有创意、销售及生产基地，是标普500指数成分股企业。
EHC vs IFF — 直观对比
营收规模更大
IFF
是对方的1.7倍
$1.5B
营收增速更快
EHC
高出16.5%
-6.6%
净利率更高
EHC
高出9.3%
0.2%
自由现金流更多
IFF
多$13.3M
$116.7M
两年增速更快
EHC
近两年复合增速
-5.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $2.6B |
| 净利润 | $146.1M | $5.0M |
| 毛利率 | — | 34.4% |
| 营业利润率 | 16.7% | 3.7% |
| 净利率 | 9.5% | 0.2% |
| 营收同比 | 9.9% | -6.6% |
| 净利润同比 | 20.8% | 110.9% |
| 每股收益（稀释后） | $1.43 | $0.03 |
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EHCIFF
| Q4 25 | $1.5B | $2.6B | ||
| Q3 25 | $1.5B | $2.7B | ||
| Q2 25 | $1.5B | $2.8B | ||
| Q1 25 | $1.5B | $2.8B | ||
| Q4 24 | $1.4B | $2.8B | ||
| Q3 24 | $1.4B | $2.9B | ||
| Q2 24 | $1.3B | $2.9B | ||
| Q1 24 | $1.3B | $2.9B |
净利润EHCIFF
| Q4 25 | $146.1M | $5.0M | ||
| Q3 25 | $126.5M | $40.0M | ||
| Q2 25 | $142.1M | $612.0M | ||
| Q1 25 | $151.5M | $-1.0B | ||
| Q4 24 | $120.9M | $-46.0M | ||
| Q3 24 | $108.2M | $59.0M | ||
| Q2 24 | $114.1M | $170.0M | ||
| Q1 24 | $112.5M | $60.0M |
毛利率EHCIFF
| Q4 25 | — | 34.4% | ||
| Q3 25 | — | 36.5% | ||
| Q2 25 | — | 37.3% | ||
| Q1 25 | — | 36.4% | ||
| Q4 24 | — | 35.4% | ||
| Q3 24 | — | 36.0% | ||
| Q2 24 | — | 37.0% | ||
| Q1 24 | — | 35.3% |
营业利润率EHCIFF
| Q4 25 | 16.7% | 3.7% | ||
| Q3 25 | 14.9% | 8.4% | ||
| Q2 25 | 16.2% | 7.2% | ||
| Q1 25 | 16.4% | -31.8% | ||
| Q4 24 | 14.3% | 4.6% | ||
| Q3 24 | 13.6% | 8.5% | ||
| Q2 24 | 14.3% | 6.6% | ||
| Q1 24 | 13.6% | 6.9% |
净利率EHCIFF
| Q4 25 | 9.5% | 0.2% | ||
| Q3 25 | 8.6% | 1.5% | ||
| Q2 25 | 9.7% | 22.1% | ||
| Q1 25 | 10.4% | -35.8% | ||
| Q4 24 | 8.6% | -1.7% | ||
| Q3 24 | 8.0% | 2.0% | ||
| Q2 24 | 8.8% | 5.9% | ||
| Q1 24 | 8.5% | 2.1% |
每股收益（稀释后）EHCIFF
| Q4 25 | $1.43 | $0.03 | ||
| Q3 25 | $1.24 | $0.16 | ||
| Q2 25 | $1.39 | $2.38 | ||
| Q1 25 | $1.48 | $-3.98 | ||
| Q4 24 | $1.18 | $-0.17 | ||
| Q3 24 | $1.06 | $0.23 | ||
| Q2 24 | $1.12 | $0.66 | ||
| Q1 24 | $1.10 | $0.23 |
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 | $590.0M |
| 总债务越低越好 | $2.4B | $5.6B |
| 股东权益账面价值 | $2.4B | $14.2B |
| 总资产 | $7.1B | $25.5B |
| 负债/权益比越低杠杆越低 | 1.00× | 0.40× |
8季度趋势，按日历期对齐
现金及短期投资EHCIFF
| Q4 25 | $72.2M | $590.0M | ||
| Q3 25 | $48.7M | $621.0M | ||
| Q2 25 | $99.1M | $816.0M | ||
| Q1 25 | $95.8M | $613.0M | ||
| Q4 24 | $85.4M | $469.0M | ||
| Q3 24 | $147.8M | $567.0M | ||
| Q2 24 | $154.4M | $671.0M | ||
| Q1 24 | $134.4M | $732.0M |
总债务EHCIFF
| Q4 25 | $2.4B | $5.6B | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.4B | $8.9B | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.7B | — |
股东权益EHCIFF
| Q4 25 | $2.4B | $14.2B | ||
| Q3 25 | $2.4B | $14.2B | ||
| Q2 25 | $2.3B | $14.4B | ||
| Q1 25 | $2.2B | $13.2B | ||
| Q4 24 | $2.1B | $13.9B | ||
| Q3 24 | $2.0B | $14.8B | ||
| Q2 24 | $1.8B | $14.3B | ||
| Q1 24 | $1.7B | $14.3B |
总资产EHCIFF
| Q4 25 | $7.1B | $25.5B | ||
| Q3 25 | $6.9B | $25.8B | ||
| Q2 25 | $6.8B | $26.1B | ||
| Q1 25 | $6.6B | $28.3B | ||
| Q4 24 | $6.5B | $28.7B | ||
| Q3 24 | $6.5B | $29.9B | ||
| Q2 24 | $6.4B | $29.5B | ||
| Q1 24 | $6.2B | $30.6B |
负债/权益比EHCIFF
| Q4 25 | 1.00× | 0.40× | ||
| Q3 25 | 1.01× | — | ||
| Q2 25 | 1.02× | — | ||
| Q1 25 | 1.08× | — | ||
| Q4 24 | 1.14× | 0.64× | ||
| 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 | $318.0M |
| 自由现金流经营现金流 - 资本支出 | $116.7M | $130.0M |
| 自由现金流率自由现金流/营收 | 7.6% | 5.0% |
| 资本支出强度资本支出/营收 | 14.8% | 7.3% |
| 现金转化率经营现金流/净利润 | 2.37× | 63.60× |
| 过去12个月自由现金流最近4个季度 | $439.2M | $256.0M |
8季度趋势，按日历期对齐
经营现金流EHCIFF
| Q4 25 | $346.0M | $318.0M | ||
| Q3 25 | $270.8M | $164.0M | ||
| Q2 25 | $270.2M | $241.0M | ||
| Q1 25 | $288.6M | $127.0M | ||
| Q4 24 | $278.8M | $368.0M | ||
| Q3 24 | $267.8M | $366.0M | ||
| Q2 24 | $217.4M | $237.0M | ||
| Q1 24 | $238.8M | $99.0M |
自由现金流EHCIFF
| Q4 25 | $116.7M | $130.0M | ||
| Q3 25 | $83.7M | $32.0M | ||
| Q2 25 | $113.3M | $146.0M | ||
| Q1 25 | $125.5M | $-52.0M | ||
| Q4 24 | $80.1M | $208.0M | ||
| Q3 24 | $120.3M | $263.0M | ||
| Q2 24 | $60.5M | $155.0M | ||
| Q1 24 | $99.4M | $-19.0M |
自由现金流率EHCIFF
| Q4 25 | 7.6% | 5.0% | ||
| Q3 25 | 5.7% | 1.2% | ||
| Q2 25 | 7.8% | 5.3% | ||
| Q1 25 | 8.6% | -1.8% | ||
| Q4 24 | 5.7% | 7.5% | ||
| Q3 24 | 8.9% | 9.0% | ||
| Q2 24 | 4.6% | 5.4% | ||
| Q1 24 | 7.6% | -0.7% |
资本支出强度EHCIFF
| Q4 25 | 14.8% | 7.3% | ||
| Q3 25 | 12.7% | 4.9% | ||
| Q2 25 | 10.8% | 3.4% | ||
| Q1 25 | 11.2% | 6.3% | ||
| Q4 24 | 14.1% | 5.8% | ||
| Q3 24 | 10.9% | 3.5% | ||
| Q2 24 | 12.1% | 2.8% | ||
| Q1 24 | 10.6% | 4.1% |
现金转化率EHCIFF
| Q4 25 | 2.37× | 63.60× | ||
| Q3 25 | 2.14× | 4.10× | ||
| Q2 25 | 1.90× | 0.39× | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 2.31× | — | ||
| Q3 24 | 2.48× | 6.20× | ||
| Q2 24 | 1.91× | 1.39× | ||
| Q1 24 | 2.12× | 1.65× |
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% |
IFF
| Food Ingredients | $802.0M | 31% |
| Scent | $610.0M | 24% |
| Other | $589.0M | 23% |
| Taste | $588.0M | 23% |
