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ESTABLISHMENT LABS HOLDINGS INC.（ESTA）与捷迈邦美（ZBH）财务数据对比。点击上方公司名可切换其他公司
捷迈邦美的季度营收约是ESTABLISHMENT LABS HOLDINGS INC.的34.7倍（$2.2B vs $64.6M）。ESTABLISHMENT LABS HOLDINGS INC.同比增速更快（45.2% vs 10.9%）。捷迈邦美自由现金流更多（$442.6M vs $-2.0M）。过去两年ESTABLISHMENT LABS HOLDINGS INC.的营收复合增速更高（31.9% vs 9.0%）
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。
捷迈邦美是一家美国上市的医疗设备企业，1927年成立，最初以生产铝制夹板为核心业务，总部设于印第安纳州华沙市，是当地医疗设备产业集群的核心成员，在全球骨科医疗器械领域拥有较高知名度。
ESTA vs ZBH — 直观对比
营收规模更大
ZBH
是对方的34.7倍
$64.6M
营收增速更快
ESTA
高出34.3%
10.9%
自由现金流更多
ZBH
多$444.6M
$-2.0M
两年增速更快
ESTA
近两年复合增速
9.0%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $64.6M | $2.2B |
| 净利润 | — | $139.4M |
| 毛利率 | 70.5% | 64.7% |
| 营业利润率 | -6.1% | 6.9% |
| 净利率 | — | 6.2% |
| 营收同比 | 45.2% | 10.9% |
| 净利润同比 | — | -41.8% |
| 每股收益（稀释后） | $-0.07 | $0.71 |
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ESTAZBH
| Q4 25 | $64.6M | $2.2B | ||
| Q3 25 | $53.8M | $2.0B | ||
| Q2 25 | $51.3M | $2.1B | ||
| Q1 25 | $41.4M | $1.9B | ||
| Q4 24 | $44.5M | $2.0B | ||
| Q3 24 | $40.2M | $1.8B | ||
| Q2 24 | $44.1M | $1.9B | ||
| Q1 24 | $37.2M | $1.9B |
净利润ESTAZBH
| Q4 25 | — | $139.4M | ||
| Q3 25 | $-11.1M | $230.9M | ||
| Q2 25 | $-16.6M | $152.8M | ||
| Q1 25 | $-20.7M | $182.0M | ||
| Q4 24 | — | $239.5M | ||
| Q3 24 | $-16.7M | $249.1M | ||
| Q2 24 | $-17.2M | $242.8M | ||
| Q1 24 | $-16.2M | $172.4M |
毛利率ESTAZBH
| Q4 25 | 70.5% | 64.7% | ||
| Q3 25 | 70.1% | 72.1% | ||
| Q2 25 | 68.8% | 71.5% | ||
| Q1 25 | 67.2% | 71.2% | ||
| Q4 24 | 68.5% | 71.0% | ||
| Q3 24 | 63.9% | 70.5% | ||
| Q2 24 | 65.6% | 71.5% | ||
| Q1 24 | 65.6% | 72.9% |
营业利润率ESTAZBH
| Q4 25 | -6.1% | 6.9% | ||
| Q3 25 | -7.5% | 17.6% | ||
| Q2 25 | -27.5% | 14.4% | ||
| Q1 25 | -41.0% | 15.3% | ||
| Q4 24 | -41.9% | 19.2% | ||
| Q3 24 | -32.7% | 15.3% | ||
| Q2 24 | -21.2% | 18.1% | ||
| Q1 24 | -23.8% | 14.1% |
净利率ESTAZBH
| Q4 25 | — | 6.2% | ||
| Q3 25 | -20.7% | 11.5% | ||
| Q2 25 | -32.3% | 7.4% | ||
| Q1 25 | -50.1% | 9.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | -41.5% | 13.7% | ||
| Q2 24 | -38.9% | 12.5% | ||
| Q1 24 | -43.6% | 9.1% |
每股收益（稀释后）ESTAZBH
| Q4 25 | $-0.07 | $0.71 | ||
| Q3 25 | $-0.38 | $1.16 | ||
| Q2 25 | $-0.57 | $0.77 | ||
| Q1 25 | $-0.70 | $0.91 | ||
| Q4 24 | $-1.21 | $1.18 | ||
| Q3 24 | $-0.59 | $1.23 | ||
| Q2 24 | $-0.62 | $1.18 | ||
| Q1 24 | $-0.58 | $0.84 |
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 | $591.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $23.5M | $12.7B |
| 总资产 | $357.2M | $23.1B |
| 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ESTAZBH
| Q4 25 | $75.6M | $591.9M | ||
| Q3 25 | $70.6M | $1.3B | ||
| Q2 25 | $54.6M | $556.9M | ||
| Q1 25 | $69.2M | $1.4B | ||
| Q4 24 | $90.3M | $525.5M | ||
| Q3 24 | — | $569.0M | ||
| Q2 24 | — | $420.1M | ||
| Q1 24 | — | $393.0M |
总债务ESTAZBH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ESTAZBH
| Q4 25 | $23.5M | $12.7B | ||
| Q3 25 | $16.4M | $12.8B | ||
| Q2 25 | $22.8M | $12.5B | ||
| Q1 25 | $38.5M | $12.4B | ||
| Q4 24 | $53.1M | $12.5B | ||
| Q3 24 | $32.7M | $12.4B | ||
| Q2 24 | $45.0M | $12.7B | ||
| Q1 24 | $56.9M | $12.6B |
总资产ESTAZBH
| Q4 25 | $357.2M | $23.1B | ||
| Q3 25 | $338.9M | $23.5B | ||
| Q2 25 | $329.7M | $22.9B | ||
| Q1 25 | $333.4M | $22.2B | ||
| Q4 24 | $346.8M | $21.4B | ||
| Q3 24 | $282.7M | $21.7B | ||
| Q2 24 | $285.1M | $21.5B | ||
| Q1 24 | $301.8M | $21.5B |
负债/权益比ESTAZBH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-162.0K | $517.4M |
| 自由现金流经营现金流 - 资本支出 | $-2.0M | $442.6M |
| 自由现金流率自由现金流/营收 | -3.1% | 19.7% |
| 资本支出强度资本支出/营收 | 2.8% | 3.3% |
| 现金转化率经营现金流/净利润 | — | 3.71× |
| 过去12个月自由现金流最近4个季度 | $-56.9M | $1.5B |
8季度趋势，按日历期对齐
经营现金流ESTAZBH
| Q4 25 | $-162.0K | $517.4M | ||
| Q3 25 | $-11.3M | $418.7M | ||
| Q2 25 | $-18.8M | $378.2M | ||
| Q1 25 | $-20.7M | $382.8M | ||
| Q4 24 | $-20.7M | $506.3M | ||
| Q3 24 | $-12.5M | $395.7M | ||
| Q2 24 | $-14.2M | $369.4M | ||
| Q1 24 | $-11.2M | $228.0M |
自由现金流ESTAZBH
| Q4 25 | $-2.0M | $442.6M | ||
| Q3 25 | $-13.1M | $363.7M | ||
| Q2 25 | $-20.4M | $328.1M | ||
| Q1 25 | $-21.5M | $338.2M | ||
| Q4 24 | $-21.3M | $454.8M | ||
| Q3 24 | $-13.9M | $351.2M | ||
| Q2 24 | $-15.0M | $316.7M | ||
| Q1 24 | $-14.5M | $172.9M |
自由现金流率ESTAZBH
| Q4 25 | -3.1% | 19.7% | ||
| Q3 25 | -24.4% | 18.2% | ||
| Q2 25 | -39.7% | 15.8% | ||
| Q1 25 | -51.9% | 17.7% | ||
| Q4 24 | -47.8% | 22.5% | ||
| Q3 24 | -34.6% | 19.3% | ||
| Q2 24 | -33.9% | 16.3% | ||
| Q1 24 | -38.9% | 9.2% |
资本支出强度ESTAZBH
| Q4 25 | 2.8% | 3.3% | ||
| Q3 25 | 3.4% | 2.7% | ||
| Q2 25 | 3.2% | 2.4% | ||
| Q1 25 | 1.8% | 2.3% | ||
| Q4 24 | 1.2% | 2.5% | ||
| Q3 24 | 3.7% | 2.4% | ||
| Q2 24 | 1.8% | 2.7% | ||
| Q1 24 | 8.9% | 2.9% |
现金转化率ESTAZBH
| Q4 25 | — | 3.71× | ||
| Q3 25 | — | 1.81× | ||
| Q2 25 | — | 2.48× | ||
| Q1 25 | — | 2.10× | ||
| Q4 24 | — | 2.11× | ||
| Q3 24 | — | 1.59× | ||
| Q2 24 | — | 1.52× | ||
| Q1 24 | — | 1.32× |
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
ZBH
| Knees | $911.0M | 41% |
| SET | $587.6M | 26% |
| Hips | $555.4M | 25% |
| Technology And Data Bone Cement And Surgical | $189.8M | 8% |
