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Encompass Health Corp（EHC）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
Encompass Health Corp的季度营收约是利氏兄弟拍卖行的1.3倍（$1.5B vs $1.2B），Encompass Health Corp净利率更高（9.5% vs 9.1%，领先0.3%），Encompass Health Corp同比增速更快（9.9% vs 5.4%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $116.7M），过去两年Encompass Health Corp的营收复合增速更高（8.3% vs 6.3%）
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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
EHC vs RBA — 直观对比
营收规模更大
EHC
是对方的1.3倍
$1.2B
营收增速更快
EHC
高出4.5%
5.4%
净利率更高
EHC
高出0.3%
9.1%
自由现金流更多
RBA
多$69.8M
$116.7M
两年增速更快
EHC
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.2B |
| 净利润 | $146.1M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | 16.7% | 14.7% |
| 净利率 | 9.5% | 9.1% |
| 营收同比 | 9.9% | 5.4% |
| 净利润同比 | 20.8% | -7.4% |
| 每股收益（稀释后） | $1.43 | $0.53 |
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EHCRBA
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.5B | $1.1B | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.4B | $981.8M | ||
| Q2 24 | $1.3B | $1.1B | ||
| Q1 24 | $1.3B | $1.1B |
净利润EHCRBA
| Q4 25 | $146.1M | $109.7M | ||
| Q3 25 | $126.5M | $95.5M | ||
| Q2 25 | $142.1M | $109.8M | ||
| Q1 25 | $151.5M | $113.4M | ||
| Q4 24 | $120.9M | $118.5M | ||
| Q3 24 | $108.2M | $76.1M | ||
| Q2 24 | $114.1M | $111.1M | ||
| Q1 24 | $112.5M | $107.4M |
营业利润率EHCRBA
| Q4 25 | 16.7% | 14.7% | ||
| Q3 25 | 14.9% | 14.5% | ||
| Q2 25 | 16.2% | 15.9% | ||
| Q1 25 | 16.4% | 17.1% | ||
| Q4 24 | 14.3% | 18.1% | ||
| Q3 24 | 13.6% | 15.6% | ||
| Q2 24 | 14.3% | 18.4% | ||
| Q1 24 | 13.6% | 18.7% |
净利率EHCRBA
| Q4 25 | 9.5% | 9.1% | ||
| Q3 25 | 8.6% | 8.7% | ||
| Q2 25 | 9.7% | 9.3% | ||
| Q1 25 | 10.4% | 10.2% | ||
| Q4 24 | 8.6% | 10.4% | ||
| Q3 24 | 8.0% | 7.8% | ||
| Q2 24 | 8.8% | 10.1% | ||
| Q1 24 | 8.5% | 10.1% |
每股收益（稀释后）EHCRBA
| Q4 25 | $1.43 | $0.53 | ||
| Q3 25 | $1.24 | $0.43 | ||
| Q2 25 | $1.39 | $0.53 | ||
| Q1 25 | $1.48 | $0.55 | ||
| Q4 24 | $1.18 | $0.58 | ||
| Q3 24 | $1.06 | $0.36 | ||
| Q2 24 | $1.12 | $0.54 | ||
| Q1 24 | $1.10 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | $2.4B | $2.3B |
| 股东权益账面价值 | $2.4B | $5.6B |
| 总资产 | $7.1B | $12.1B |
| 负债/权益比越低杠杆越低 | 1.00× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资EHCRBA
| Q4 25 | $72.2M | $531.5M | ||
| Q3 25 | $48.7M | $674.7M | ||
| Q2 25 | $99.1M | $710.2M | ||
| Q1 25 | $95.8M | $578.1M | ||
| Q4 24 | $85.4M | $533.9M | ||
| Q3 24 | $147.8M | $650.7M | ||
| Q2 24 | $154.4M | $599.5M | ||
| Q1 24 | $134.4M | $462.8M |
总债务EHCRBA
| Q4 25 | $2.4B | $2.3B | ||
| Q3 25 | $2.4B | $2.6B | ||
| Q2 25 | $2.3B | $2.6B | ||
| Q1 25 | $2.3B | $2.6B | ||
| Q4 24 | $2.4B | $2.6B | ||
| Q3 24 | $2.3B | $2.7B | ||
| Q2 24 | $2.7B | $2.8B | ||
| Q1 24 | $2.7B | $2.9B |
股东权益EHCRBA
| Q4 25 | $2.4B | $5.6B | ||
| Q3 25 | $2.4B | $5.5B | ||
| Q2 25 | $2.3B | $5.5B | ||
| Q1 25 | $2.2B | $5.3B | ||
| Q4 24 | $2.1B | $5.2B | ||
| Q3 24 | $2.0B | $5.2B | ||
| Q2 24 | $1.8B | $5.2B | ||
| Q1 24 | $1.7B | $5.1B |
总资产EHCRBA
| Q4 25 | $7.1B | $12.1B | ||
| Q3 25 | $6.9B | $12.2B | ||
| Q2 25 | $6.8B | $12.2B | ||
| Q1 25 | $6.6B | $11.9B | ||
| Q4 24 | $6.5B | $11.8B | ||
| Q3 24 | $6.5B | $11.9B | ||
| Q2 24 | $6.4B | $12.1B | ||
| Q1 24 | $6.2B | $12.0B |
负债/权益比EHCRBA
| Q4 25 | 1.00× | 0.42× | ||
| Q3 25 | 1.01× | 0.47× | ||
| Q2 25 | 1.02× | 0.47× | ||
| Q1 25 | 1.08× | 0.50× | ||
| Q4 24 | 1.14× | 0.50× | ||
| Q3 24 | 1.20× | 0.52× | ||
| Q2 24 | 1.46× | 0.55× | ||
| Q1 24 | 1.54× | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $116.7M | $186.5M |
| 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% | 5.7% |
| 现金转化率经营现金流/净利润 | 2.37× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $439.2M | $719.2M |
8季度趋势，按日历期对齐
经营现金流EHCRBA
| Q4 25 | $346.0M | $255.2M | ||
| Q3 25 | $270.8M | $239.7M | ||
| Q2 25 | $270.2M | $326.5M | ||
| Q1 25 | $288.6M | $156.8M | ||
| Q4 24 | $278.8M | $184.5M | ||
| Q3 24 | $267.8M | $285.4M | ||
| Q2 24 | $217.4M | $337.3M | ||
| Q1 24 | $238.8M | $124.8M |
自由现金流EHCRBA
| Q4 25 | $116.7M | $186.5M | ||
| Q3 25 | $83.7M | $188.5M | ||
| Q2 25 | $113.3M | $241.7M | ||
| Q1 25 | $125.5M | $102.5M | ||
| Q4 24 | $80.1M | $127.9M | ||
| Q3 24 | $120.3M | $248.5M | ||
| Q2 24 | $60.5M | $308.6M | ||
| Q1 24 | $99.4M | $79.6M |
自由现金流率EHCRBA
| Q4 25 | 7.6% | 15.5% | ||
| Q3 25 | 5.7% | 17.3% | ||
| Q2 25 | 7.8% | 20.4% | ||
| Q1 25 | 8.6% | 9.2% | ||
| Q4 24 | 5.7% | 11.2% | ||
| Q3 24 | 8.9% | 25.3% | ||
| Q2 24 | 4.6% | 28.2% | ||
| Q1 24 | 7.6% | 7.5% |
资本支出强度EHCRBA
| Q4 25 | 14.8% | 5.7% | ||
| Q3 25 | 12.7% | 4.7% | ||
| Q2 25 | 10.8% | 7.2% | ||
| Q1 25 | 11.2% | 4.9% | ||
| Q4 24 | 14.1% | 5.0% | ||
| Q3 24 | 10.9% | 3.8% | ||
| Q2 24 | 12.1% | 2.6% | ||
| Q1 24 | 10.6% | 4.2% |
现金转化率EHCRBA
| Q4 25 | 2.37× | 2.33× | ||
| Q3 25 | 2.14× | 2.51× | ||
| Q2 25 | 1.90× | 2.97× | ||
| Q1 25 | 1.90× | 1.38× | ||
| Q4 24 | 2.31× | 1.56× | ||
| Q3 24 | 2.48× | 3.75× | ||
| Q2 24 | 1.91× | 3.04× | ||
| Q1 24 | 2.12× | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
