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Encompass Health Corp（EHC）与欧文斯科宁（OC）财务数据对比。点击上方公司名可切换其他公司
欧文斯科宁的季度营收约是Encompass Health Corp的1.4倍（$2.1B vs $1.5B），Encompass Health Corp净利率更高（9.5% vs -13.9%，领先23.4%），Encompass Health Corp同比增速更快（9.9% vs -24.6%），欧文斯科宁自由现金流更多（$333.0M vs $116.7M），过去两年Encompass Health Corp的营收复合增速更高（8.3% vs -3.5%）
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。
欧文斯科宁是美国知名建材及复合材料企业，1935年由康宁玻璃厂与欧文斯-伊利诺伊公司合资组建。主营保温材料、屋面材料、玻璃纤维复合材料及相关产品，是全球最大的玻璃纤维复合材料生产商，全球员工约1.9万人，自1955年《财富》500强榜单创立以来连年上榜。
EHC vs OC — 直观对比
营收规模更大
OC
是对方的1.4倍
$1.5B
营收增速更快
EHC
高出34.5%
-24.6%
净利率更高
EHC
高出23.4%
-13.9%
自由现金流更多
OC
多$216.3M
$116.7M
两年增速更快
EHC
近两年复合增速
-3.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $2.1B |
| 净利润 | $146.1M | $-298.0M |
| 毛利率 | — | 23.2% |
| 营业利润率 | 16.7% | -10.5% |
| 净利率 | 9.5% | -13.9% |
| 营收同比 | 9.9% | -24.6% |
| 净利润同比 | 20.8% | -15.5% |
| 每股收益（稀释后） | $1.43 | $-3.47 |
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EHCOC
| Q4 25 | $1.5B | $2.1B | ||
| Q3 25 | $1.5B | $2.7B | ||
| Q2 25 | $1.5B | $2.7B | ||
| Q1 25 | $1.5B | $2.5B | ||
| Q4 24 | $1.4B | $2.8B | ||
| Q3 24 | $1.4B | $3.0B | ||
| Q2 24 | $1.3B | $2.8B | ||
| Q1 24 | $1.3B | $2.3B |
净利润EHCOC
| Q4 25 | $146.1M | $-298.0M | ||
| Q3 25 | $126.5M | $-494.0M | ||
| Q2 25 | $142.1M | $363.0M | ||
| Q1 25 | $151.5M | $-93.0M | ||
| Q4 24 | $120.9M | $-258.0M | ||
| Q3 24 | $108.2M | $321.0M | ||
| Q2 24 | $114.1M | $285.0M | ||
| Q1 24 | $112.5M | $299.0M |
毛利率EHCOC
| Q4 25 | — | 23.2% | ||
| Q3 25 | — | 28.2% | ||
| Q2 25 | — | 31.2% | ||
| Q1 25 | — | 28.7% | ||
| Q4 24 | — | 28.1% | ||
| Q3 24 | — | 29.8% | ||
| Q2 24 | — | 31.1% | ||
| Q1 24 | — | 29.6% |
营业利润率EHCOC
| Q4 25 | 16.7% | -10.5% | ||
| Q3 25 | 14.9% | -12.2% | ||
| Q2 25 | 16.2% | 18.4% | ||
| Q1 25 | 16.4% | 16.1% | ||
| Q4 24 | 14.3% | -8.5% | ||
| Q3 24 | 13.6% | 16.7% | ||
| Q2 24 | 14.3% | 16.4% | ||
| Q1 24 | 13.6% | 17.5% |
净利率EHCOC
| Q4 25 | 9.5% | -13.9% | ||
| Q3 25 | 8.6% | -18.4% | ||
| Q2 25 | 9.7% | 13.2% | ||
| Q1 25 | 10.4% | -3.7% | ||
| Q4 24 | 8.6% | -9.1% | ||
| Q3 24 | 8.0% | 10.5% | ||
| Q2 24 | 8.8% | 10.2% | ||
| Q1 24 | 8.5% | 13.0% |
每股收益（稀释后）EHCOC
| Q4 25 | $1.43 | $-3.47 | ||
| Q3 25 | $1.24 | $-5.92 | ||
| Q2 25 | $1.39 | $4.25 | ||
| Q1 25 | $1.48 | $-1.08 | ||
| Q4 24 | $1.18 | $-2.92 | ||
| Q3 24 | $1.06 | $3.65 | ||
| Q2 24 | $1.12 | $3.24 | ||
| Q1 24 | $1.10 | $3.40 |
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 | $345.0M |
| 总债务越低越好 | $2.4B | $4.7B |
| 股东权益账面价值 | $2.4B | $3.9B |
| 总资产 | $7.1B | $13.0B |
| 负债/权益比越低杠杆越低 | 1.00× | 1.22× |
8季度趋势，按日历期对齐
现金及短期投资EHCOC
| Q4 25 | $72.2M | $345.0M | ||
| Q3 25 | $48.7M | $286.0M | ||
| Q2 25 | $99.1M | $230.0M | ||
| Q1 25 | $95.8M | $400.0M | ||
| Q4 24 | $85.4M | $361.0M | ||
| Q3 24 | $147.8M | $499.0M | ||
| Q2 24 | $154.4M | $254.0M | ||
| Q1 24 | $134.4M | $1.3B |
总债务EHCOC
| Q4 25 | $2.4B | $4.7B | ||
| Q3 25 | $2.4B | $4.7B | ||
| Q2 25 | $2.3B | $5.1B | ||
| Q1 25 | $2.3B | $5.0B | ||
| Q4 24 | $2.4B | $5.1B | ||
| Q3 24 | $2.3B | $5.0B | ||
| Q2 24 | $2.7B | $5.0B | ||
| Q1 24 | $2.7B | $2.6B |
股东权益EHCOC
| Q4 25 | $2.4B | $3.9B | ||
| Q3 25 | $2.4B | $4.4B | ||
| Q2 25 | $2.3B | $5.2B | ||
| Q1 25 | $2.2B | $4.9B | ||
| Q4 24 | $2.1B | $5.1B | ||
| Q3 24 | $2.0B | $5.6B | ||
| Q2 24 | $1.8B | $5.5B | ||
| Q1 24 | $1.7B | $5.2B |
总资产EHCOC
| Q4 25 | $7.1B | $13.0B | ||
| Q3 25 | $6.9B | $13.5B | ||
| Q2 25 | $6.8B | $14.5B | ||
| Q1 25 | $6.6B | $14.3B | ||
| Q4 24 | $6.5B | $14.1B | ||
| Q3 24 | $6.5B | $15.1B | ||
| Q2 24 | $6.4B | $15.0B | ||
| Q1 24 | $6.2B | $11.3B |
负债/权益比EHCOC
| Q4 25 | 1.00× | 1.22× | ||
| Q3 25 | 1.01× | 1.06× | ||
| Q2 25 | 1.02× | 0.98× | ||
| Q1 25 | 1.08× | 1.03× | ||
| Q4 24 | 1.14× | 1.01× | ||
| Q3 24 | 1.20× | 0.89× | ||
| Q2 24 | 1.46× | 0.92× | ||
| Q1 24 | 1.54× | 0.51× |
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 | $590.0M |
| 自由现金流经营现金流 - 资本支出 | $116.7M | $333.0M |
| 自由现金流率自由现金流/营收 | 7.6% | 15.5% |
| 资本支出强度资本支出/营收 | 14.8% | 12.0% |
| 现金转化率经营现金流/净利润 | 2.37× | — |
| 过去12个月自由现金流最近4个季度 | $439.2M | $962.0M |
8季度趋势，按日历期对齐
经营现金流EHCOC
| Q4 25 | $346.0M | $590.0M | ||
| Q3 25 | $270.8M | $918.0M | ||
| Q2 25 | $270.2M | $327.0M | ||
| Q1 25 | $288.6M | $-49.0M | ||
| Q4 24 | $278.8M | $676.0M | ||
| Q3 24 | $267.8M | $699.0M | ||
| Q2 24 | $217.4M | $493.0M | ||
| Q1 24 | $238.8M | $24.0M |
自由现金流EHCOC
| Q4 25 | $116.7M | $333.0M | ||
| Q3 25 | $83.7M | $752.0M | ||
| Q2 25 | $113.3M | $129.0M | ||
| Q1 25 | $125.5M | $-252.0M | ||
| Q4 24 | $80.1M | $479.0M | ||
| Q3 24 | $120.3M | $558.0M | ||
| Q2 24 | $60.5M | $336.0M | ||
| Q1 24 | $99.4M | $-128.0M |
自由现金流率EHCOC
| Q4 25 | 7.6% | 15.5% | ||
| Q3 25 | 5.7% | 28.0% | ||
| Q2 25 | 7.8% | 4.7% | ||
| Q1 25 | 8.6% | -10.0% | ||
| Q4 24 | 5.7% | 16.9% | ||
| Q3 24 | 8.9% | 18.3% | ||
| Q2 24 | 4.6% | 12.0% | ||
| Q1 24 | 7.6% | -5.6% |
资本支出强度EHCOC
| Q4 25 | 14.8% | 12.0% | ||
| Q3 25 | 12.7% | 6.2% | ||
| Q2 25 | 10.8% | 7.2% | ||
| Q1 25 | 11.2% | 8.0% | ||
| Q4 24 | 14.1% | 6.9% | ||
| Q3 24 | 10.9% | 4.6% | ||
| Q2 24 | 12.1% | 5.6% | ||
| Q1 24 | 10.6% | 6.6% |
现金转化率EHCOC
| Q4 25 | 2.37× | — | ||
| Q3 25 | 2.14× | — | ||
| Q2 25 | 1.90× | 0.90× | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 2.31× | — | ||
| Q3 24 | 2.48× | 2.18× | ||
| Q2 24 | 1.91× | 1.73× | ||
| Q1 24 | 2.12× | 0.08× |
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% |
OC
| Insulation | $724.0M | 34% |
| Residential | $625.0M | 29% |
| Doors | $427.0M | 20% |
| Discontinued Operations Disposed Of By Sale | $299.0M | 14% |
| Commercial And Industrial Sector | $101.0M | 5% |
