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eHealth, Inc.（EHTH）与Orthofix Medical Inc.（OFIX）财务数据对比。点击上方公司名可切换其他公司
eHealth, Inc.的季度营收约是Orthofix Medical Inc.的1.5倍（$326.2M vs $219.9M），eHealth, Inc.净利率更高（26.7% vs -1.0%，领先27.7%），eHealth, Inc.同比增速更快（3.5% vs 2.0%），Orthofix Medical Inc.自由现金流更多（$16.8M vs $-36.1M），过去两年eHealth, Inc.的营收复合增速更高（87.3% vs 8.0%）
eHealth, Inc.以eHealthInsurance品牌开展业务，是一家公开上市的健康保险在线交易平台，公司注册于特拉华州，总部位于加利福尼亚州圣克拉拉。该平台主要提供医疗保险相关计划，涵盖联邦医疗保险处方药计划、联邦医疗保险补充计划、优势计划等产品，同时也售卖个人健康保险产品，业务覆盖美国全部50个州及华盛顿特区。
Orthofix医疗是全球知名骨科医疗器械企业，专注于研发、生产及销售脊柱植入物、骨科创伤产品、骨生长刺激治疗设备及再生医疗产品，服务全球多地的骨科医师与医疗机构，致力于提升肌肉骨骼疾病患者的诊疗效果。
EHTH vs OFIX — 直观对比
营收规模更大
EHTH
是对方的1.5倍
$219.9M
营收增速更快
EHTH
高出1.5%
2.0%
净利率更高
EHTH
高出27.7%
-1.0%
自由现金流更多
OFIX
多$52.9M
$-36.1M
两年增速更快
EHTH
近两年复合增速
8.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $326.2M | $219.9M |
| 净利润 | $87.2M | $-2.2M |
| 毛利率 | 55.3% | 71.1% |
| 营业利润率 | 38.7% | 0.2% |
| 净利率 | 26.7% | -1.0% |
| 营收同比 | 3.5% | 2.0% |
| 净利润同比 | -10.6% | 92.4% |
| 每股收益（稀释后） | $2.43 | $-0.05 |
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EHTHOFIX
| Q4 25 | $326.2M | $219.9M | ||
| Q3 25 | $53.9M | $205.6M | ||
| Q2 25 | $60.8M | $203.1M | ||
| Q1 25 | $113.1M | $193.6M | ||
| Q4 24 | $315.2M | $215.7M | ||
| Q3 24 | $58.4M | $196.6M | ||
| Q2 24 | $65.9M | $198.6M | ||
| Q1 24 | $93.0M | $188.6M |
净利润EHTHOFIX
| Q4 25 | $87.2M | $-2.2M | ||
| Q3 25 | $-31.7M | $-22.8M | ||
| Q2 25 | $-17.4M | $-14.1M | ||
| Q1 25 | $1.9M | $-53.1M | ||
| Q4 24 | $97.5M | $-29.1M | ||
| Q3 24 | $-42.5M | $-27.4M | ||
| Q2 24 | $-28.0M | $-33.4M | ||
| Q1 24 | $-17.0M | $-36.0M |
毛利率EHTHOFIX
| Q4 25 | 55.3% | 71.1% | ||
| Q3 25 | -0.3% | 72.2% | ||
| Q2 25 | 31.1% | 68.7% | ||
| Q1 25 | 36.9% | 62.8% | ||
| Q4 24 | 52.0% | 69.0% | ||
| Q3 24 | -6.5% | 68.7% | ||
| Q2 24 | 28.7% | 67.8% | ||
| Q1 24 | 31.7% | 67.5% |
营业利润率EHTHOFIX
| Q4 25 | 38.7% | 0.2% | ||
| Q3 25 | -77.1% | -8.3% | ||
| Q2 25 | -37.9% | -7.9% | ||
| Q1 25 | 4.2% | -25.2% | ||
| Q4 24 | 35.7% | -5.3% | ||
| Q3 24 | -74.0% | -9.6% | ||
| Q2 24 | -42.5% | -12.5% | ||
| Q1 24 | -19.3% | -15.6% |
净利率EHTHOFIX
| Q4 25 | 26.7% | -1.0% | ||
| Q3 25 | -58.8% | -11.1% | ||
| Q2 25 | -28.6% | -6.9% | ||
| Q1 25 | 1.7% | -27.4% | ||
| Q4 24 | 30.9% | -13.5% | ||
| Q3 24 | -72.7% | -13.9% | ||
| Q2 24 | -42.5% | -16.8% | ||
| Q1 24 | -18.3% | -19.1% |
每股收益（稀释后）EHTHOFIX
| Q4 25 | $2.43 | $-0.05 | ||
| Q3 25 | $-1.46 | $-0.57 | ||
| Q2 25 | $-0.98 | $-0.36 | ||
| Q1 25 | $-0.33 | $-1.35 | ||
| Q4 24 | $2.93 | $-0.76 | ||
| Q3 24 | $-1.83 | $-0.71 | ||
| Q2 24 | $-1.33 | $-0.88 | ||
| Q1 24 | $-0.96 | $-0.95 |
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 | $73.7M | $82.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $591.6M | $450.0M |
| 总资产 | $1.3B | $850.6M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资EHTHOFIX
| Q4 25 | $73.7M | $82.0M | ||
| Q3 25 | $63.1M | $62.9M | ||
| Q2 25 | $65.9M | $65.6M | ||
| Q1 25 | $121.1M | $58.0M | ||
| Q4 24 | $39.2M | $83.2M | ||
| Q3 24 | $64.0M | $30.1M | ||
| Q2 24 | $126.3M | $26.4M | ||
| Q1 24 | $175.0M | $27.0M |
总债务EHTHOFIX
| Q4 25 | — | — | ||
| Q3 25 | — | $157.2M | ||
| Q2 25 | — | $157.0M | ||
| Q1 25 | — | $156.9M | ||
| Q4 24 | — | $157.0M | ||
| Q3 24 | — | $118.5M | ||
| Q2 24 | — | $118.0M | ||
| Q1 24 | — | $118.2M |
股东权益EHTHOFIX
| Q4 25 | $591.6M | $450.0M | ||
| Q3 25 | $514.2M | $442.5M | ||
| Q2 25 | $554.9M | $458.3M | ||
| Q1 25 | $581.6M | $458.3M | ||
| Q4 24 | $588.4M | $503.1M | ||
| Q3 24 | $499.3M | $525.9M | ||
| Q2 24 | $548.9M | $546.0M | ||
| Q1 24 | $582.8M | $570.3M |
总资产EHTHOFIX
| Q4 25 | $1.3B | $850.6M | ||
| Q3 25 | $1.0B | $832.6M | ||
| Q2 25 | $1.1B | $837.2M | ||
| Q1 25 | $1.1B | $823.1M | ||
| Q4 24 | $1.2B | $893.3M | ||
| Q3 24 | $1.0B | $867.9M | ||
| Q2 24 | $1.0B | $882.0M | ||
| Q1 24 | $1.1B | $906.0M |
负债/权益比EHTHOFIX
| Q4 25 | — | — | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | — | 0.31× | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | — | 0.22× | ||
| Q1 24 | — | 0.21× |
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 | $-35.9M | $27.7M |
| 自由现金流经营现金流 - 资本支出 | $-36.1M | $16.8M |
| 自由现金流率自由现金流/营收 | -11.1% | 7.6% |
| 资本支出强度资本支出/营收 | 0.0% | 4.9% |
| 现金转化率经营现金流/净利润 | -0.41× | — |
| 过去12个月自由现金流最近4个季度 | $-27.6M | $-1.3M |
8季度趋势，按日历期对齐
经营现金流EHTHOFIX
| Q4 25 | $-35.9M | $27.7M | ||
| Q3 25 | $-25.3M | $12.4M | ||
| Q2 25 | $-41.2M | $11.6M | ||
| Q1 25 | $77.1M | $-18.4M | ||
| Q4 24 | $-27.7M | $23.7M | ||
| Q3 24 | $-29.3M | $11.7M | ||
| Q2 24 | $-32.2M | $9.0M | ||
| Q1 24 | $70.8M | $-18.6M |
自由现金流EHTHOFIX
| Q4 25 | $-36.1M | $16.8M | ||
| Q3 25 | $-25.5M | $2.5M | ||
| Q2 25 | $-42.8M | $4.5M | ||
| Q1 25 | $76.8M | $-25.1M | ||
| Q4 24 | $-28.3M | $15.2M | ||
| Q3 24 | $-30.3M | $6.3M | ||
| Q2 24 | $-32.4M | $-360.0K | ||
| Q1 24 | $70.6M | $-29.1M |
自由现金流率EHTHOFIX
| Q4 25 | -11.1% | 7.6% | ||
| Q3 25 | -47.4% | 1.2% | ||
| Q2 25 | -70.4% | 2.2% | ||
| Q1 25 | 67.9% | -13.0% | ||
| Q4 24 | -9.0% | 7.0% | ||
| Q3 24 | -51.8% | 3.2% | ||
| Q2 24 | -49.3% | -0.2% | ||
| Q1 24 | 75.9% | -15.4% |
资本支出强度EHTHOFIX
| Q4 25 | 0.0% | 4.9% | ||
| Q3 25 | 0.4% | 4.8% | ||
| Q2 25 | 2.6% | 3.5% | ||
| Q1 25 | 0.3% | 3.5% | ||
| Q4 24 | 0.2% | 4.0% | ||
| Q3 24 | 1.7% | 2.7% | ||
| Q2 24 | 0.4% | 4.7% | ||
| Q1 24 | 0.2% | 5.6% |
现金转化率EHTHOFIX
| Q4 25 | -0.41× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 39.55× | — | ||
| Q4 24 | -0.28× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
EHTH
| Medicare | $282.7M | 87% |
| Other | $29.2M | 9% |
| Ancillaries | $7.9M | 2% |
| Commission Members Approved In Prior Periods | $3.8M | 1% |
| Small Business | $3.1M | 1% |
| Commission Revenue From Renewals | $2.4M | 1% |
OFIX
| Spinal Implants Biologics And Enabling Technologies | $113.6M | 52% |
| Bone Growth Therapies | $68.3M | 31% |
| Other | $22.7M | 10% |
| IT | $5.9M | 3% |
| GB | $3.5M | 2% |
| FR | $3.5M | 2% |
| DE | $2.3M | 1% |
