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Elevance Health（ELV）与麦克森（MCK）财务数据对比。点击上方公司名可切换其他公司
麦克森的季度营收约是Elevance Health的2.1倍（$106.2B vs $49.7B），麦克森净利率更高（1.1% vs 1.1%，领先0.0%），麦克森同比增速更快（11.4% vs 1.8%），过去两年麦克森的营收复合增速更高（17.9% vs 6.5%）
Elevance Health是美国知名健康保险公司，2022年6月前名为Anthem, Inc.。按营收规模计算，该公司是全球第七大医疗保健企业，通过Anthem蓝十字蓝盾、加州Anthem蓝十字、Wellpoint、Carelon等附属机构，提供医疗、医药、牙科、精神健康、长期护理、残疾保险等多元服务。
麦克森是美国上市医疗健康企业，核心业务包括药品分销、医疗信息技术服务、医疗耗材供应及健康管理工具提供。其分销的药品占北美市场总使用量的三分之一，员工超8万人，2024年营收达3089亿美元，为美国第九大企业及本土最大医疗企业。
ELV vs MCK — 直观对比
营收规模更大
MCK
是对方的2.1倍
$49.7B
营收增速更快
MCK
高出9.6%
1.8%
净利率更高
MCK
高出0.0%
1.1%
两年增速更快
MCK
近两年复合增速
6.5%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $49.7B | $106.2B |
| 净利润 | $547.0M | $1.2B |
| 毛利率 | 88.9% | 3.5% |
| 营业利润率 | 0.6% | 1.5% |
| 净利率 | 1.1% | 1.1% |
| 营收同比 | 1.8% | 11.4% |
| 净利润同比 | -74.9% | 34.9% |
| 每股收益（稀释后） | $2.56 | $9.59 |
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ELVMCK
| Q1 26 | $49.7B | — | ||
| Q4 25 | $49.7B | $106.2B | ||
| Q3 25 | $50.7B | $103.2B | ||
| Q2 25 | $49.8B | $97.8B | ||
| Q1 25 | $48.9B | $90.8B | ||
| Q4 24 | $45.4B | $95.3B | ||
| Q3 24 | $45.1B | $93.7B | ||
| Q2 24 | $43.9B | $79.3B |
净利润ELVMCK
| Q1 26 | $547.0M | — | ||
| Q4 25 | $547.0M | $1.2B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.7B | $784.0M | ||
| Q1 25 | $2.2B | $1.3B | ||
| Q4 24 | $418.0M | $879.0M | ||
| Q3 24 | $1.0B | $241.0M | ||
| Q2 24 | $2.3B | $915.0M |
毛利率ELVMCK
| Q1 26 | 88.9% | — | ||
| Q4 25 | 88.9% | 3.5% | ||
| Q3 25 | 89.4% | 3.4% | ||
| Q2 25 | 89.4% | 3.4% | ||
| Q1 25 | 89.8% | 4.0% | ||
| Q4 24 | 86.8% | 3.4% | ||
| Q3 24 | 88.7% | 3.5% | ||
| Q2 24 | 89.0% | 4.0% |
营业利润率ELVMCK
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.6% | 1.5% | ||
| Q3 25 | 2.6% | 1.4% | ||
| Q2 25 | 4.9% | 1.1% | ||
| Q1 25 | 6.5% | 1.8% | ||
| Q4 24 | 1.5% | 1.3% | ||
| Q3 24 | 3.1% | 0.6% | ||
| Q2 24 | 6.3% | 1.3% |
净利率ELVMCK
| Q1 26 | 1.1% | — | ||
| Q4 25 | 1.1% | 1.1% | ||
| Q3 25 | 2.3% | 1.1% | ||
| Q2 25 | 3.5% | 0.8% | ||
| Q1 25 | 4.5% | 1.4% | ||
| Q4 24 | 0.9% | 0.9% | ||
| Q3 24 | 2.3% | 0.3% | ||
| Q2 24 | 5.2% | 1.2% |
每股收益（稀释后）ELVMCK
| Q1 26 | $2.56 | — | ||
| Q4 25 | $2.56 | $9.59 | ||
| Q3 25 | $5.32 | $8.92 | ||
| Q2 25 | $7.72 | $6.25 | ||
| Q1 25 | $9.61 | $9.90 | ||
| Q4 24 | $1.88 | $6.95 | ||
| Q3 24 | $4.36 | $1.87 | ||
| Q2 24 | $9.85 | $7.00 |
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 | $9.5B | $3.0B |
| 总债务越低越好 | $31.9B | $5.4B |
| 股东权益账面价值 | $43.9B | $-1.3B |
| 总资产 | $121.5B | $84.2B |
| 负债/权益比越低杠杆越低 | 0.73× | — |
8季度趋势，按日历期对齐
现金及短期投资ELVMCK
| Q1 26 | $9.5B | — | ||
| Q4 25 | $9.5B | $3.0B | ||
| Q3 25 | $8.7B | $4.0B | ||
| Q2 25 | $8.6B | $2.4B | ||
| Q1 25 | $7.5B | $5.7B | ||
| Q4 24 | $8.3B | $1.1B | ||
| Q3 24 | $7.9B | $2.5B | ||
| Q2 24 | $6.5B | $2.3B |
总债务ELVMCK
| Q1 26 | $31.9B | — | ||
| Q4 25 | $31.9B | $5.4B | ||
| Q3 25 | — | $6.0B | ||
| Q2 25 | — | $6.5B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | $30.9B | $4.4B | ||
| Q3 24 | — | $5.7B | ||
| Q2 24 | — | $5.6B |
股东权益ELVMCK
| Q1 26 | $43.9B | — | ||
| Q4 25 | $43.9B | $-1.3B | ||
| Q3 25 | $44.0B | $-1.7B | ||
| Q2 25 | $43.7B | $-2.0B | ||
| Q1 25 | $42.5B | $-2.1B | ||
| Q4 24 | $41.3B | $-3.1B | ||
| Q3 24 | $43.8B | $-3.0B | ||
| Q2 24 | $42.2B | $-1.8B |
总资产ELVMCK
| Q1 26 | $121.5B | — | ||
| Q4 25 | $121.5B | $84.2B | ||
| Q3 25 | $122.7B | $84.2B | ||
| Q2 25 | $121.9B | $81.3B | ||
| Q1 25 | $119.7B | $75.1B | ||
| Q4 24 | $116.9B | $71.1B | ||
| Q3 24 | $116.5B | $72.4B | ||
| Q2 24 | $113.0B | $71.7B |
负债/权益比ELVMCK
| Q1 26 | 0.73× | — | ||
| Q4 25 | 0.73× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.75× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $1.2B |
| 自由现金流经营现金流 - 资本支出 | — | $1.1B |
| 自由现金流率自由现金流/营收 | — | 1.1% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | — | 1.04× |
| 过去12个月自由现金流最近4个季度 | — | $10.0B |
8季度趋势，按日历期对齐
经营现金流ELVMCK
| Q1 26 | — | — | ||
| Q4 25 | $84.0M | $1.2B | ||
| Q3 25 | $1.1B | $2.4B | ||
| Q2 25 | $2.1B | $-918.0M | ||
| Q1 25 | $1.0B | $7.7B | ||
| Q4 24 | $706.0M | $-2.4B | ||
| Q3 24 | $2.7B | $2.1B | ||
| Q2 24 | $447.0M | $-1.4B |
自由现金流ELVMCK
| Q1 26 | — | — | ||
| Q4 25 | $-209.0M | $1.1B | ||
| Q3 25 | $775.0M | $2.3B | ||
| Q2 25 | $1.8B | $-1.0B | ||
| Q1 25 | $821.0M | $7.6B | ||
| Q4 24 | $384.0M | $-2.5B | ||
| Q3 24 | $2.3B | $2.0B | ||
| Q2 24 | $124.0M | $-1.5B |
自由现金流率ELVMCK
| Q1 26 | — | — | ||
| Q4 25 | -0.4% | 1.1% | ||
| Q3 25 | 1.5% | 2.2% | ||
| Q2 25 | 3.6% | -1.1% | ||
| Q1 25 | 1.7% | 8.3% | ||
| Q4 24 | 0.8% | -2.6% | ||
| Q3 24 | 5.2% | 2.1% | ||
| Q2 24 | 0.3% | -1.9% |
资本支出强度ELVMCK
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 0.1% | ||
| Q3 25 | 0.7% | 0.1% | ||
| Q2 25 | 0.5% | 0.1% | ||
| Q1 25 | 0.4% | 0.2% | ||
| Q4 24 | 0.7% | 0.1% | ||
| Q3 24 | 0.7% | 0.1% | ||
| Q2 24 | 0.7% | 0.1% |
现金转化率ELVMCK
| Q1 26 | — | — | ||
| Q4 25 | 0.15× | 1.04× | ||
| Q3 25 | 0.95× | 2.18× | ||
| Q2 25 | 1.18× | -1.17× | ||
| Q1 25 | 0.47× | 6.15× | ||
| Q4 24 | 1.69× | -2.71× | ||
| Q3 24 | 2.63× | 8.71× | ||
| Q2 24 | 0.19× | -1.51× |
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
ELV
暂无分部数据
MCK
| North American Pharmaceutical Segment | $88.3B | 83% |
| Oncology And Multispecialty Segment | $13.0B | 12% |
| Medical Surgical Solutions Segment | $3.0B | 3% |
| Prescription Technology Solutions Segment | $1.5B | 1% |
