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Encompass Health Corp（EHC）与安森美半导体（ON）财务数据对比。点击上方公司名可切换其他公司
安森美半导体的季度营收约是Encompass Health Corp的1.0倍（$1.6B vs $1.5B），安森美半导体净利率更高（16.4% vs 9.5%，领先7.0%），Encompass Health Corp同比增速更快（9.9% vs -10.0%），安森美半导体自由现金流更多（$372.4M vs $116.7M），过去两年Encompass Health Corp的营收复合增速更高（8.3% vs -12.3%）
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。
安森美半导体旗下原仙童半导体是总部位于美国加利福尼亚州圣何塞的半导体企业，1957年由从肖克利半导体实验室离职的“八叛逆”创立，是晶体管和集成电路制造领域的先驱，曾历经多次股权变更，1997年再度独立运营后并入安森美。
EHC vs ON — 直观对比
营收规模更大
ON
是对方的1.0倍
$1.5B
营收增速更快
EHC
高出19.9%
-10.0%
净利率更高
ON
高出7.0%
9.5%
自由现金流更多
ON
多$255.7M
$116.7M
两年增速更快
EHC
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.6B |
| 净利润 | $146.1M | $255.0M |
| 毛利率 | — | 37.9% |
| 营业利润率 | 16.7% | 17.0% |
| 净利率 | 9.5% | 16.4% |
| 营收同比 | 9.9% | -10.0% |
| 净利润同比 | 20.8% | -32.9% |
| 每股收益（稀释后） | $1.43 | $0.63 |
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EHCON
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.5B | $1.4B | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $1.4B | $1.8B | ||
| Q2 24 | $1.3B | $1.7B | ||
| Q1 24 | $1.3B | $1.9B |
净利润EHCON
| Q4 25 | $146.1M | $255.0M | ||
| Q3 25 | $126.5M | $170.3M | ||
| Q2 25 | $142.1M | $-486.1M | ||
| Q1 25 | $151.5M | — | ||
| Q4 24 | $120.9M | $379.9M | ||
| Q3 24 | $108.2M | $401.7M | ||
| Q2 24 | $114.1M | $338.2M | ||
| Q1 24 | $112.5M | $453.0M |
毛利率EHCON
| Q4 25 | — | 37.9% | ||
| Q3 25 | — | 37.6% | ||
| Q2 25 | — | 20.3% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 45.2% | ||
| Q3 24 | — | 45.4% | ||
| Q2 24 | — | 45.2% | ||
| Q1 24 | — | 45.8% |
营业利润率EHCON
| Q4 25 | 16.7% | 17.0% | ||
| Q3 25 | 14.9% | 13.2% | ||
| Q2 25 | 16.2% | -39.7% | ||
| Q1 25 | 16.4% | — | ||
| Q4 24 | 14.3% | 23.7% | ||
| Q3 24 | 13.6% | 25.3% | ||
| Q2 24 | 14.3% | 22.4% | ||
| Q1 24 | 13.6% | 28.2% |
净利率EHCON
| Q4 25 | 9.5% | 16.4% | ||
| Q3 25 | 8.6% | 11.6% | ||
| Q2 25 | 9.7% | -33.6% | ||
| Q1 25 | 10.4% | — | ||
| Q4 24 | 8.6% | 22.1% | ||
| Q3 24 | 8.0% | 22.8% | ||
| Q2 24 | 8.8% | 19.5% | ||
| Q1 24 | 8.5% | 24.3% |
每股收益（稀释后）EHCON
| Q4 25 | $1.43 | $0.63 | ||
| Q3 25 | $1.24 | $0.41 | ||
| Q2 25 | $1.39 | $-1.15 | ||
| Q1 25 | $1.48 | — | ||
| Q4 24 | $1.18 | $0.88 | ||
| Q3 24 | $1.06 | $0.93 | ||
| Q2 24 | $1.12 | $0.78 | ||
| Q1 24 | $1.10 | $1.04 |
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 | $2.9B |
| 总债务越低越好 | $2.4B | $3.4B |
| 股东权益账面价值 | $2.4B | $7.9B |
| 总资产 | $7.1B | $13.0B |
| 负债/权益比越低杠杆越低 | 1.00× | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资EHCON
| Q4 25 | $72.2M | $2.9B | ||
| Q3 25 | $48.7M | $2.8B | ||
| Q2 25 | $99.1M | $3.0B | ||
| Q1 25 | $95.8M | — | ||
| Q4 24 | $85.4M | $3.0B | ||
| Q3 24 | $147.8M | $2.8B | ||
| Q2 24 | $154.4M | $2.7B | ||
| Q1 24 | $134.4M | $2.6B |
总债务EHCON
| Q4 25 | $2.4B | $3.4B | ||
| Q3 25 | $2.4B | $3.4B | ||
| Q2 25 | $2.3B | $3.4B | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.4B | $3.4B | ||
| Q3 24 | $2.3B | $3.4B | ||
| Q2 24 | $2.7B | $3.4B | ||
| Q1 24 | $2.7B | $3.4B |
股东权益EHCON
| Q4 25 | $2.4B | $7.9B | ||
| Q3 25 | $2.4B | $7.9B | ||
| Q2 25 | $2.3B | $8.0B | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.1B | $8.8B | ||
| Q3 24 | $2.0B | $8.6B | ||
| Q2 24 | $1.8B | $8.3B | ||
| Q1 24 | $1.7B | $8.1B |
总资产EHCON
| Q4 25 | $7.1B | $13.0B | ||
| Q3 25 | $6.9B | $13.1B | ||
| Q2 25 | $6.8B | $13.3B | ||
| Q1 25 | $6.6B | — | ||
| Q4 24 | $6.5B | $14.1B | ||
| Q3 24 | $6.5B | $13.9B | ||
| Q2 24 | $6.4B | $13.7B | ||
| Q1 24 | $6.2B | $13.5B |
负债/权益比EHCON
| Q4 25 | 1.00× | 0.43× | ||
| Q3 25 | 1.01× | 0.43× | ||
| Q2 25 | 1.02× | 0.42× | ||
| Q1 25 | 1.08× | — | ||
| Q4 24 | 1.14× | 0.38× | ||
| Q3 24 | 1.20× | 0.39× | ||
| Q2 24 | 1.46× | 0.41× | ||
| Q1 24 | 1.54× | 0.42× |
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 | $418.7M |
| 自由现金流经营现金流 - 资本支出 | $116.7M | $372.4M |
| 自由现金流率自由现金流/营收 | 7.6% | 24.0% |
| 资本支出强度资本支出/营收 | 14.8% | 3.0% |
| 现金转化率经营现金流/净利润 | 2.37× | 1.64× |
| 过去12个月自由现金流最近4个季度 | $439.2M | $1.4B |
8季度趋势，按日历期对齐
经营现金流EHCON
| Q4 25 | $346.0M | $418.7M | ||
| Q3 25 | $270.8M | $184.3M | ||
| Q2 25 | $270.2M | $602.3M | ||
| Q1 25 | $288.6M | — | ||
| Q4 24 | $278.8M | $579.7M | ||
| Q3 24 | $267.8M | $465.8M | ||
| Q2 24 | $217.4M | $362.2M | ||
| Q1 24 | $238.8M | $498.7M |
自由现金流EHCON
| Q4 25 | $116.7M | $372.4M | ||
| Q3 25 | $83.7M | $106.1M | ||
| Q2 25 | $113.3M | $454.7M | ||
| Q1 25 | $125.5M | — | ||
| Q4 24 | $80.1M | $434.8M | ||
| Q3 24 | $120.3M | $293.6M | ||
| Q2 24 | $60.5M | $207.7M | ||
| Q1 24 | $99.4M | $276.3M |
自由现金流率EHCON
| Q4 25 | 7.6% | 24.0% | ||
| Q3 25 | 5.7% | 7.2% | ||
| Q2 25 | 7.8% | 31.5% | ||
| Q1 25 | 8.6% | — | ||
| Q4 24 | 5.7% | 25.2% | ||
| Q3 24 | 8.9% | 16.7% | ||
| Q2 24 | 4.6% | 12.0% | ||
| Q1 24 | 7.6% | 14.8% |
资本支出强度EHCON
| Q4 25 | 14.8% | 3.0% | ||
| Q3 25 | 12.7% | 5.3% | ||
| Q2 25 | 10.8% | 10.2% | ||
| Q1 25 | 11.2% | — | ||
| Q4 24 | 14.1% | 8.4% | ||
| Q3 24 | 10.9% | 9.8% | ||
| Q2 24 | 12.1% | 8.9% | ||
| Q1 24 | 10.6% | 11.9% |
现金转化率EHCON
| Q4 25 | 2.37× | 1.64× | ||
| Q3 25 | 2.14× | 1.08× | ||
| Q2 25 | 1.90× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 2.31× | 1.53× | ||
| Q3 24 | 2.48× | 1.16× | ||
| Q2 24 | 1.91× | 1.07× | ||
| Q1 24 | 2.12× | 1.10× |
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% |
ON
| Industrial Segment | $426.3M | 27% |
| Other End Markets Segment | $337.3M | 22% |
| Intelligent Sensing Segments | $284.0M | 18% |
| Direct Customers | $282.4M | 18% |
| Intelligent Sensing Group | $230.0M | 15% |
