vs
伊萨（ESAB）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
瑞思迈的季度营收约是伊萨的2.0倍（$1.4B vs $727.8M），瑞思迈净利率更高（27.6% vs 7.5%，领先20.1%），瑞思迈同比增速更快（11.0% vs 8.5%），瑞思迈自由现金流更多（$311.2M vs $70.3M），过去两年瑞思迈的营收复合增速更高（9.0% vs 2.8%）
ESAB（全称Elektriska Svetsnings-Aktiebolaget）是一家美国与瑞典合资的跨国工业企业，主营焊接、切割设备及配套耗材的研发、生产与销售，为全球制造业、基建等多领域客户提供专业可靠的工业解决方案，在全球工业市场拥有较高知名度。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
ESAB vs RMD — 直观对比
营收规模更大
RMD
是对方的2.0倍
$727.8M
营收增速更快
RMD
高出2.5%
8.5%
净利率更高
RMD
高出20.1%
7.5%
自由现金流更多
RMD
多$240.9M
$70.3M
两年增速更快
RMD
近两年复合增速
2.8%
损益表 — Q3 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $727.8M | $1.4B |
| 净利润 | $54.8M | $392.6M |
| 毛利率 | 37.0% | 61.8% |
| 营业利润率 | 14.6% | 34.6% |
| 净利率 | 7.5% | 27.6% |
| 营收同比 | 8.5% | 11.0% |
| 净利润同比 | 2.1% | 13.9% |
| 每股收益（稀释后） | $0.90 | $2.68 |
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ESABRMD
| Q4 25 | $727.8M | $1.4B | ||
| Q3 25 | $715.6M | $1.3B | ||
| Q2 25 | $678.1M | $1.3B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $670.8M | $1.3B | ||
| Q3 24 | $673.3M | $1.2B | ||
| Q2 24 | $707.1M | $1.2B | ||
| Q1 24 | $689.7M | $1.2B |
净利润ESABRMD
| Q4 25 | $54.8M | $392.6M | ||
| Q3 25 | $66.9M | $348.5M | ||
| Q2 25 | $67.4M | $379.7M | ||
| Q1 25 | — | $365.0M | ||
| Q4 24 | $53.7M | $344.6M | ||
| Q3 24 | $68.2M | $311.4M | ||
| Q2 24 | $82.9M | $292.2M | ||
| Q1 24 | $60.0M | $300.5M |
毛利率ESABRMD
| Q4 25 | 37.0% | 61.8% | ||
| Q3 25 | 37.2% | 61.5% | ||
| Q2 25 | 37.6% | 60.8% | ||
| Q1 25 | — | 59.3% | ||
| Q4 24 | 38.5% | 58.6% | ||
| Q3 24 | 37.7% | 58.6% | ||
| Q2 24 | 38.2% | 58.5% | ||
| Q1 24 | 37.0% | 57.9% |
营业利润率ESABRMD
| Q4 25 | 14.6% | 34.6% | ||
| Q3 25 | 15.2% | 33.4% | ||
| Q2 25 | 16.2% | 33.7% | ||
| Q1 25 | — | 33.0% | ||
| Q4 24 | 16.6% | 32.5% | ||
| Q3 24 | 15.7% | 31.6% | ||
| Q2 24 | 16.9% | 31.2% | ||
| Q1 24 | 16.0% | 31.3% |
净利率ESABRMD
| Q4 25 | 7.5% | 27.6% | ||
| Q3 25 | 9.3% | 26.1% | ||
| Q2 25 | 9.9% | 28.2% | ||
| Q1 25 | — | 28.3% | ||
| Q4 24 | 8.0% | 26.9% | ||
| Q3 24 | 10.1% | 25.4% | ||
| Q2 24 | 11.7% | 23.9% | ||
| Q1 24 | 8.7% | 25.1% |
每股收益（稀释后）ESABRMD
| Q4 25 | $0.90 | $2.68 | ||
| Q3 25 | $1.09 | $2.37 | ||
| Q2 25 | $1.10 | $2.58 | ||
| Q1 25 | — | $2.48 | ||
| Q4 24 | $0.87 | $2.34 | ||
| Q3 24 | $1.11 | $2.11 | ||
| Q2 24 | $1.35 | $1.97 | ||
| Q1 24 | $0.98 | $2.04 |
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 | $218.2M | $1.4B |
| 总债务越低越好 | $1.3B | $403.9M |
| 股东权益账面价值 | $2.1B | $6.3B |
| 总资产 | $4.9B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.63× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资ESABRMD
| Q4 25 | $218.2M | $1.4B | ||
| Q3 25 | $258.2M | $1.4B | ||
| Q2 25 | $291.3M | $1.2B | ||
| Q1 25 | — | $932.7M | ||
| Q4 24 | $249.4M | $521.9M | ||
| Q3 24 | $253.7M | $426.4M | ||
| Q2 24 | $228.5M | $238.4M | ||
| Q1 24 | $76.5M | $237.9M |
总债务ESABRMD
| Q4 25 | $1.3B | $403.9M | ||
| Q3 25 | $1.1B | $408.7M | ||
| Q2 25 | $1.1B | $658.4M | ||
| Q1 25 | — | $663.1M | ||
| Q4 24 | $1.1B | $662.9M | ||
| Q3 24 | $1.1B | $667.6M | ||
| Q2 24 | $1.1B | $697.3M | ||
| Q1 24 | $992.8M | $997.0M |
股东权益ESABRMD
| Q4 25 | $2.1B | $6.3B | ||
| Q3 25 | $2.1B | $6.1B | ||
| Q2 25 | $1.9B | $6.0B | ||
| Q1 25 | — | $5.5B | ||
| Q4 24 | $1.8B | $5.3B | ||
| Q3 24 | $1.8B | $5.2B | ||
| Q2 24 | $1.7B | $4.9B | ||
| Q1 24 | $1.6B | $4.6B |
总资产ESABRMD
| Q4 25 | $4.9B | $8.5B | ||
| Q3 25 | $4.4B | $8.3B | ||
| Q2 25 | $4.2B | $8.2B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | $4.0B | $7.1B | ||
| Q3 24 | $4.1B | $7.2B | ||
| Q2 24 | $4.0B | $6.9B | ||
| Q1 24 | $3.8B | $6.8B |
负债/权益比ESABRMD
| Q4 25 | 0.63× | 0.06× | ||
| Q3 25 | 0.51× | 0.07× | ||
| Q2 25 | 0.55× | 0.11× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | 0.60× | 0.13× | ||
| Q3 24 | 0.59× | 0.13× | ||
| Q2 24 | 0.63× | 0.14× | ||
| Q1 24 | 0.61× | 0.22× |
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 | $81.5M | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $70.3M | $311.2M |
| 自由现金流率自由现金流/营收 | 9.7% | 21.9% |
| 资本支出强度资本支出/营收 | 1.5% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.49× | 0.87× |
| 过去12个月自由现金流最近4个季度 | $238.0M | $1.8B |
8季度趋势，按日历期对齐
经营现金流ESABRMD
| Q4 25 | $81.5M | $339.7M | ||
| Q3 25 | $46.6M | $457.3M | ||
| Q2 25 | $35.4M | $538.8M | ||
| Q1 25 | — | $578.7M | ||
| Q4 24 | $126.9M | $308.6M | ||
| Q3 24 | $101.0M | $325.5M | ||
| Q2 24 | $83.0M | $440.1M | ||
| Q1 24 | $44.5M | $402.0M |
自由现金流ESABRMD
| Q4 25 | $70.3M | $311.2M | ||
| Q3 25 | $37.4M | $414.4M | ||
| Q2 25 | $28.1M | $508.2M | ||
| Q1 25 | — | $557.9M | ||
| Q4 24 | $102.2M | $288.0M | ||
| Q3 24 | $90.4M | $307.7M | ||
| Q2 24 | $74.0M | $415.2M | ||
| Q1 24 | $37.1M | $380.8M |
自由现金流率ESABRMD
| Q4 25 | 9.7% | 21.9% | ||
| Q3 25 | 5.2% | 31.0% | ||
| Q2 25 | 4.1% | 37.7% | ||
| Q1 25 | — | 43.2% | ||
| Q4 24 | 15.2% | 22.5% | ||
| Q3 24 | 13.4% | 25.1% | ||
| Q2 24 | 10.5% | 33.9% | ||
| Q1 24 | 5.4% | 31.8% |
资本支出强度ESABRMD
| Q4 25 | 1.5% | 2.0% | ||
| Q3 25 | 1.3% | 3.2% | ||
| Q2 25 | 1.1% | 2.3% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | 3.7% | 1.6% | ||
| Q3 24 | 1.6% | 1.5% | ||
| Q2 24 | 1.3% | 2.0% | ||
| Q1 24 | 1.1% | 1.8% |
现金转化率ESABRMD
| Q4 25 | 1.49× | 0.87× | ||
| Q3 25 | 0.70× | 1.31× | ||
| Q2 25 | 0.53× | 1.42× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | 2.36× | 0.90× | ||
| Q3 24 | 1.48× | 1.05× | ||
| Q2 24 | 1.00× | 1.51× | ||
| Q1 24 | 0.74× | 1.34× |
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
ESAB
| Consumable Products | $477.9M | 66% |
| Equipment Products | $249.9M | 34% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
