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ESTABLISHMENT LABS HOLDINGS INC.（ESTA）与MSA Safety Inc（MSA）财务数据对比。点击上方公司名可切换其他公司
MSA Safety Inc的季度营收约是ESTABLISHMENT LABS HOLDINGS INC.的7.9倍（$510.9M vs $64.6M）。ESTABLISHMENT LABS HOLDINGS INC.同比增速更快（45.2% vs 2.2%）。MSA Safety Inc自由现金流更多（$106.0M vs $-2.0M）。过去两年ESTABLISHMENT LABS HOLDINGS INC.的营收复合增速更高（31.9% vs 11.2%）
Establishment Labs Holdings Inc.是一家总部位于美国的无晶圆厂半导体企业，同时专注于人工智能领域业务，核心为数据中心及AI基础设施研发高速连接解决方案，于2024年3月在纳斯达克挂牌上市。
MSA安全是美国专业安全设备生产供应商，面向建筑、军事、消防、化工、油气等存在高危作业场景的多个行业提供安全防护产品及解决方案，总部位于美国匹兹堡近郊的克兰伯里。
ESTA vs MSA — 直观对比
营收规模更大
MSA
是对方的7.9倍
$64.6M
营收增速更快
ESTA
高出42.9%
2.2%
自由现金流更多
MSA
多$108.0M
$-2.0M
两年增速更快
ESTA
近两年复合增速
11.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $64.6M | $510.9M |
| 净利润 | — | $86.9M |
| 毛利率 | 70.5% | 46.9% |
| 营业利润率 | -6.1% | 22.3% |
| 净利率 | — | 17.0% |
| 营收同比 | 45.2% | 2.2% |
| 净利润同比 | — | -1.2% |
| 每股收益（稀释后） | $-0.07 | $2.22 |
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ESTAMSA
| Q4 25 | $64.6M | $510.9M | ||
| Q3 25 | $53.8M | $468.4M | ||
| Q2 25 | $51.3M | $474.1M | ||
| Q1 25 | $41.4M | $421.3M | ||
| Q4 24 | $44.5M | $499.7M | ||
| Q3 24 | $40.2M | $432.7M | ||
| Q2 24 | $44.1M | $462.5M | ||
| Q1 24 | $37.2M | $413.3M |
净利润ESTAMSA
| Q4 25 | — | $86.9M | ||
| Q3 25 | $-11.1M | $69.6M | ||
| Q2 25 | $-16.6M | $62.8M | ||
| Q1 25 | $-20.7M | $59.6M | ||
| Q4 24 | — | $87.9M | ||
| Q3 24 | $-16.7M | $66.6M | ||
| Q2 24 | $-17.2M | $72.2M | ||
| Q1 24 | $-16.2M | $58.1M |
毛利率ESTAMSA
| Q4 25 | 70.5% | 46.9% | ||
| Q3 25 | 70.1% | 46.5% | ||
| Q2 25 | 68.8% | 46.6% | ||
| Q1 25 | 67.2% | 45.9% | ||
| Q4 24 | 68.5% | 46.9% | ||
| Q3 24 | 63.9% | 47.9% | ||
| Q2 24 | 65.6% | 48.2% | ||
| Q1 24 | 65.6% | 47.3% |
营业利润率ESTAMSA
| Q4 25 | -6.1% | 22.3% | ||
| Q3 25 | -7.5% | 20.1% | ||
| Q2 25 | -27.5% | 18.1% | ||
| Q1 25 | -41.0% | 18.5% | ||
| Q4 24 | -41.9% | 23.5% | ||
| Q3 24 | -32.7% | 21.1% | ||
| Q2 24 | -21.2% | 21.6% | ||
| Q1 24 | -23.8% | 19.4% |
净利率ESTAMSA
| Q4 25 | — | 17.0% | ||
| Q3 25 | -20.7% | 14.9% | ||
| Q2 25 | -32.3% | 13.2% | ||
| Q1 25 | -50.1% | 14.1% | ||
| Q4 24 | — | 17.6% | ||
| Q3 24 | -41.5% | 15.4% | ||
| Q2 24 | -38.9% | 15.6% | ||
| Q1 24 | -43.6% | 14.1% |
每股收益（稀释后）ESTAMSA
| Q4 25 | $-0.07 | $2.22 | ||
| Q3 25 | $-0.38 | $1.77 | ||
| Q2 25 | $-0.57 | $1.59 | ||
| Q1 25 | $-0.70 | $1.51 | ||
| Q4 24 | $-1.21 | $2.22 | ||
| Q3 24 | $-0.59 | $1.69 | ||
| Q2 24 | $-0.62 | $1.83 | ||
| Q1 24 | $-0.58 | $1.47 |
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 | $75.6M | $165.1M |
| 总债务越低越好 | — | $580.9M |
| 股东权益账面价值 | $23.5M | $1.4B |
| 总资产 | $357.2M | $2.6B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资ESTAMSA
| Q4 25 | $75.6M | $165.1M | ||
| Q3 25 | $70.6M | $170.0M | ||
| Q2 25 | $54.6M | $147.0M | ||
| Q1 25 | $69.2M | $170.6M | ||
| Q4 24 | $90.3M | $164.6M | ||
| Q3 24 | — | $154.4M | ||
| Q2 24 | — | $146.8M | ||
| Q1 24 | — | $148.3M |
总债务ESTAMSA
| Q4 25 | — | $580.9M | ||
| Q3 25 | — | $628.6M | ||
| Q2 25 | — | $679.3M | ||
| Q1 25 | — | $502.1M | ||
| Q4 24 | $0 | $508.0M | ||
| Q3 24 | — | $554.7M | ||
| Q2 24 | — | $588.2M | ||
| Q1 24 | — | $596.2M |
股东权益ESTAMSA
| Q4 25 | $23.5M | $1.4B | ||
| Q3 25 | $16.4M | $1.3B | ||
| Q2 25 | $22.8M | $1.3B | ||
| Q1 25 | $38.5M | $1.2B | ||
| Q4 24 | $53.1M | $1.1B | ||
| Q3 24 | $32.7M | $1.1B | ||
| Q2 24 | $45.0M | $1.0B | ||
| Q1 24 | $56.9M | $994.8M |
总资产ESTAMSA
| Q4 25 | $357.2M | $2.6B | ||
| Q3 25 | $338.9M | $2.6B | ||
| Q2 25 | $329.7M | $2.6B | ||
| Q1 25 | $333.4M | $2.2B | ||
| Q4 24 | $346.8M | $2.2B | ||
| Q3 24 | $282.7M | $2.2B | ||
| Q2 24 | $285.1M | $2.2B | ||
| Q1 24 | $301.8M | $2.2B |
负债/权益比ESTAMSA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.54× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | 0.00× | 0.44× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.60× |
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 | $-162.0K | $122.4M |
| 自由现金流经营现金流 - 资本支出 | $-2.0M | $106.0M |
| 自由现金流率自由现金流/营收 | -3.1% | 20.8% |
| 资本支出强度资本支出/营收 | 2.8% | 3.2% |
| 现金转化率经营现金流/净利润 | — | 1.41× |
| 过去12个月自由现金流最近4个季度 | $-56.9M | $295.4M |
8季度趋势，按日历期对齐
经营现金流ESTAMSA
| Q4 25 | $-162.0K | $122.4M | ||
| Q3 25 | $-11.3M | $112.5M | ||
| Q2 25 | $-18.8M | $67.2M | ||
| Q1 25 | $-20.7M | $61.8M | ||
| Q4 24 | $-20.7M | $107.9M | ||
| Q3 24 | $-12.5M | $84.3M | ||
| Q2 24 | $-14.2M | $53.3M | ||
| Q1 24 | $-11.2M | $50.9M |
自由现金流ESTAMSA
| Q4 25 | $-2.0M | $106.0M | ||
| Q3 25 | $-13.1M | $100.5M | ||
| Q2 25 | $-20.4M | $37.9M | ||
| Q1 25 | $-21.5M | $51.0M | ||
| Q4 24 | $-21.3M | $93.5M | ||
| Q3 24 | $-13.9M | $70.1M | ||
| Q2 24 | $-15.0M | $39.0M | ||
| Q1 24 | $-14.5M | $39.7M |
自由现金流率ESTAMSA
| Q4 25 | -3.1% | 20.8% | ||
| Q3 25 | -24.4% | 21.4% | ||
| Q2 25 | -39.7% | 8.0% | ||
| Q1 25 | -51.9% | 12.1% | ||
| Q4 24 | -47.8% | 18.7% | ||
| Q3 24 | -34.6% | 16.2% | ||
| Q2 24 | -33.9% | 8.4% | ||
| Q1 24 | -38.9% | 9.6% |
资本支出强度ESTAMSA
| Q4 25 | 2.8% | 3.2% | ||
| Q3 25 | 3.4% | 2.6% | ||
| Q2 25 | 3.2% | 6.2% | ||
| Q1 25 | 1.8% | 2.6% | ||
| Q4 24 | 1.2% | 2.9% | ||
| Q3 24 | 3.7% | 3.3% | ||
| Q2 24 | 1.8% | 3.1% | ||
| Q1 24 | 8.9% | 2.7% |
现金转化率ESTAMSA
| Q4 25 | — | 1.41× | ||
| Q3 25 | — | 1.62× | ||
| Q2 25 | — | 1.07× | ||
| Q1 25 | — | 1.04× | ||
| Q4 24 | — | 1.23× | ||
| Q3 24 | — | 1.27× | ||
| Q2 24 | — | 0.74× | ||
| Q1 24 | — | 0.88× |
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
ESTA
暂无分部数据
MSA
| Americas Segment | $335.2M | 66% |
| International Segment | $175.7M | 34% |
