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ESTABLISHMENT LABS HOLDINGS INC.（ESTA）与Sanara MedTech Inc.（SMTI）财务数据对比。点击上方公司名可切换其他公司
ESTABLISHMENT LABS HOLDINGS INC.的季度营收约是Sanara MedTech Inc.的2.3倍（$64.6M vs $27.5M）。ESTABLISHMENT LABS HOLDINGS INC.同比增速更快（45.2% vs 4.6%）。Sanara MedTech Inc.自由现金流更多（$3.9M vs $-2.0M）。过去两年ESTABLISHMENT LABS HOLDINGS INC.的营收复合增速更高（31.9% vs 21.8%）
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。
Sanara MedTech Inc.是一家总部位于美国的医疗科技企业，专注于研发、生产和销售外科手术、伤口护理、康复期护理类创新医疗产品，主要服务北美地区的医院、医疗机构及长期护理场所，旗下多款产品获FDA认证，旨在提升患者护理效果并降低医疗运营成本。
ESTA vs SMTI — 直观对比
营收规模更大
ESTA
是对方的2.3倍
$27.5M
营收增速更快
ESTA
高出40.5%
4.6%
自由现金流更多
SMTI
多$5.8M
$-2.0M
两年增速更快
ESTA
近两年复合增速
21.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $64.6M | $27.5M |
| 净利润 | — | $-1.6M |
| 毛利率 | 70.5% | 93.2% |
| 营业利润率 | -6.1% | 23.5% |
| 净利率 | — | -5.9% |
| 营收同比 | 45.2% | 4.6% |
| 净利润同比 | — | 5.3% |
| 每股收益（稀释后） | $-0.07 | $-0.32 |
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ESTASMTI
| Q4 25 | $64.6M | $27.5M | ||
| Q3 25 | $53.8M | $26.3M | ||
| Q2 25 | $51.3M | $25.8M | ||
| Q1 25 | $41.4M | $23.4M | ||
| Q4 24 | $44.5M | $26.3M | ||
| Q3 24 | $40.2M | $21.7M | ||
| Q2 24 | $44.1M | $20.2M | ||
| Q1 24 | $37.2M | $18.5M |
净利润ESTASMTI
| Q4 25 | — | $-1.6M | ||
| Q3 25 | $-11.1M | $-30.4M | ||
| Q2 25 | $-16.6M | $-2.0M | ||
| Q1 25 | $-20.7M | $-3.5M | ||
| Q4 24 | — | $-1.7M | ||
| Q3 24 | $-16.7M | $-2.9M | ||
| Q2 24 | $-17.2M | $-3.5M | ||
| Q1 24 | $-16.2M | $-1.8M |
毛利率ESTASMTI
| Q4 25 | 70.5% | 93.2% | ||
| Q3 25 | 70.1% | 92.9% | ||
| Q2 25 | 68.8% | 92.5% | ||
| Q1 25 | 67.2% | 92.2% | ||
| Q4 24 | 68.5% | 91.4% | ||
| Q3 24 | 63.9% | 90.8% | ||
| Q2 24 | 65.6% | 90.0% | ||
| Q1 24 | 65.6% | 89.8% |
营业利润率ESTASMTI
| Q4 25 | -6.1% | 23.5% | ||
| Q3 25 | -7.5% | 11.2% | ||
| Q2 25 | -27.5% | -0.1% | ||
| Q1 25 | -41.0% | -8.9% | ||
| Q4 24 | -41.9% | 18.6% | ||
| Q3 24 | -32.7% | 3.6% | ||
| Q2 24 | -21.2% | -14.3% | ||
| Q1 24 | -23.8% | -8.3% |
净利率ESTASMTI
| Q4 25 | — | -5.9% | ||
| Q3 25 | -20.7% | -115.5% | ||
| Q2 25 | -32.3% | -7.8% | ||
| Q1 25 | -50.1% | -15.1% | ||
| Q4 24 | — | -6.5% | ||
| Q3 24 | -41.5% | -13.2% | ||
| Q2 24 | -38.9% | -17.4% | ||
| Q1 24 | -43.6% | -9.5% |
每股收益（稀释后）ESTASMTI
| Q4 25 | $-0.07 | $-0.32 | ||
| Q3 25 | $-0.38 | $-3.40 | ||
| Q2 25 | $-0.57 | $-0.23 | ||
| Q1 25 | $-0.70 | $-0.41 | ||
| Q4 24 | $-1.21 | $-0.18 | ||
| Q3 24 | $-0.59 | $-0.34 | ||
| Q2 24 | $-0.62 | $-0.41 | ||
| Q1 24 | $-0.58 | $-0.21 |
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 | $16.6M |
| 总债务越低越好 | — | $46.0M |
| 股东权益账面价值 | $23.5M | $5.9M |
| 总资产 | $357.2M | $72.9M |
| 负债/权益比越低杠杆越低 | — | 7.74× |
8季度趋势，按日历期对齐
现金及短期投资ESTASMTI
| Q4 25 | $75.6M | $16.6M | ||
| Q3 25 | $70.6M | $14.9M | ||
| Q2 25 | $54.6M | $17.0M | ||
| Q1 25 | $69.2M | $20.7M | ||
| Q4 24 | $90.3M | $15.9M | ||
| Q3 24 | — | $16.3M | ||
| Q2 24 | — | $6.2M | ||
| Q1 24 | — | $2.8M |
总债务ESTASMTI
| Q4 25 | — | $46.0M | ||
| Q3 25 | — | $45.1M | ||
| Q2 25 | — | $44.2M | ||
| Q1 25 | — | $43.4M | ||
| Q4 24 | $0 | $30.7M | ||
| Q3 24 | — | $30.1M | ||
| Q2 24 | — | $14.4M | ||
| Q1 24 | — | $9.7M |
股东权益ESTASMTI
| Q4 25 | $23.5M | $5.9M | ||
| Q3 25 | $16.4M | $6.1M | ||
| Q2 25 | $22.8M | $35.4M | ||
| Q1 25 | $38.5M | $36.7M | ||
| Q4 24 | $53.1M | $39.4M | ||
| Q3 24 | $32.7M | $39.8M | ||
| Q2 24 | $45.0M | $41.7M | ||
| Q1 24 | $56.9M | $43.3M |
总资产ESTASMTI
| Q4 25 | $357.2M | $72.9M | ||
| Q3 25 | $338.9M | $71.1M | ||
| Q2 25 | $329.7M | $98.8M | ||
| Q1 25 | $333.4M | $96.4M | ||
| Q4 24 | $346.8M | $88.1M | ||
| Q3 24 | $282.7M | $88.5M | ||
| Q2 24 | $285.1M | $73.4M | ||
| Q1 24 | $301.8M | $70.9M |
负债/权益比ESTASMTI
| Q4 25 | — | 7.74× | ||
| Q3 25 | — | 7.33× | ||
| Q2 25 | — | 1.25× | ||
| Q1 25 | — | 1.18× | ||
| Q4 24 | 0.00× | 0.78× | ||
| Q3 24 | — | 0.76× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 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 | $-162.0K | $3.9M |
| 自由现金流经营现金流 - 资本支出 | $-2.0M | $3.9M |
| 自由现金流率自由现金流/营收 | -3.1% | 14.0% |
| 资本支出强度资本支出/营收 | 2.8% | 0.3% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-56.9M | $2.2M |
8季度趋势，按日历期对齐
经营现金流ESTASMTI
| Q4 25 | $-162.0K | $3.9M | ||
| Q3 25 | $-11.3M | $2.2M | ||
| Q2 25 | $-18.8M | $2.7M | ||
| Q1 25 | $-20.7M | $-2.0M | ||
| Q4 24 | $-20.7M | $932.0K | ||
| Q3 24 | $-12.5M | $2.1M | ||
| Q2 24 | $-14.2M | $-1.4M | ||
| Q1 24 | $-11.2M | $-1.6M |
自由现金流ESTASMTI
| Q4 25 | $-2.0M | $3.9M | ||
| Q3 25 | $-13.1M | $1.1M | ||
| Q2 25 | $-20.4M | $902.7K | ||
| Q1 25 | $-21.5M | $-3.7M | ||
| Q4 24 | $-21.3M | $859.9K | ||
| Q3 24 | $-13.9M | $2.0M | ||
| Q2 24 | $-15.0M | $-1.5M | ||
| Q1 24 | $-14.5M | $-1.7M |
自由现金流率ESTASMTI
| Q4 25 | -3.1% | 14.0% | ||
| Q3 25 | -24.4% | 4.2% | ||
| Q2 25 | -39.7% | 3.5% | ||
| Q1 25 | -51.9% | -15.9% | ||
| Q4 24 | -47.8% | 3.3% | ||
| Q3 24 | -34.6% | 9.4% | ||
| Q2 24 | -33.9% | -7.3% | ||
| Q1 24 | -38.9% | -9.0% |
资本支出强度ESTASMTI
| Q4 25 | 2.8% | 0.3% | ||
| Q3 25 | 3.4% | 4.0% | ||
| Q2 25 | 3.2% | 6.8% | ||
| Q1 25 | 1.8% | 7.4% | ||
| Q4 24 | 1.2% | 0.3% | ||
| Q3 24 | 3.7% | 0.0% | ||
| Q2 24 | 1.8% | 0.3% | ||
| Q1 24 | 8.9% | 0.4% |
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
SMTI
| Soft Tissue Repair Products | $24.7M | 90% |
| Bone Fusion Products | $2.8M | 10% |
