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Evolent Health, Inc.（EVH）与LifeStance Health Group, Inc.（LFST）财务数据对比。点击上方公司名可切换其他公司
Evolent Health, Inc.的季度营收约是LifeStance Health Group, Inc.的1.2倍（$468.7M vs $382.2M），LifeStance Health Group, Inc.净利率更高（3.1% vs -91.6%，领先94.6%），LifeStance Health Group, Inc.同比增速更快（17.4% vs -27.5%），过去两年LifeStance Health Group, Inc.的营收复合增速更高（12.8% vs -14.4%）
马奎尔健康是一家美国营利性医疗管理企业，目前为森特里奇旗下子公司，核心服务对象为特殊群体，业务聚焦医疗领域多个细分赛道。客户群体涵盖健康保险计划、其他管理式医疗机构、企业、工会、各类军事与政府机构以及第三方管理机构，2021年位列财富美国500强第390名。
LifeStance Health Group是美国的门诊行为健康服务提供商，支持线下面诊与远程诊疗两种服务模式，业务涵盖心理咨询、精神科诊疗、经颅磁刺激（TMS）以及氯胺酮治疗等。该公司曾多次因劳动违规、客户信息泄露及误导投资者相关问题遭遇诉讼。
EVH vs LFST — 直观对比
营收规模更大
EVH
是对方的1.2倍
$382.2M
营收增速更快
LFST
高出44.9%
-27.5%
净利率更高
LFST
高出94.6%
-91.6%
两年增速更快
LFST
近两年复合增速
-14.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $468.7M | $382.2M |
| 净利润 | $-429.1M | $11.7M |
| 毛利率 | 20.7% | — |
| 营业利润率 | -87.1% | 4.7% |
| 净利率 | -91.6% | 3.1% |
| 营收同比 | -27.5% | 17.4% |
| 净利润同比 | -1782.0% | 264.1% |
| 每股收益（稀释后） | $-3.76 | — |
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EVHLFST
| Q4 25 | $468.7M | $382.2M | ||
| Q3 25 | $479.5M | $363.8M | ||
| Q2 25 | $444.3M | $345.3M | ||
| Q1 25 | $483.6M | $333.0M | ||
| Q4 24 | $646.5M | $325.5M | ||
| Q3 24 | $621.4M | $312.7M | ||
| Q2 24 | $647.1M | $312.3M | ||
| Q1 24 | $639.7M | $300.4M |
净利润EVHLFST
| Q4 25 | $-429.1M | $11.7M | ||
| Q3 25 | $-20.9M | $1.1M | ||
| Q2 25 | $-19.9M | $-3.8M | ||
| Q1 25 | $-64.6M | $709.0K | ||
| Q4 24 | $-22.8M | $-7.1M | ||
| Q3 24 | $-23.1M | $-6.0M | ||
| Q2 24 | $1.6M | $-23.3M | ||
| Q1 24 | $-17.3M | $-21.1M |
毛利率EVHLFST
| Q4 25 | 20.7% | — | ||
| Q3 25 | 20.8% | — | ||
| Q2 25 | 22.6% | — | ||
| Q1 25 | 21.2% | — | ||
| Q4 24 | 11.7% | — | ||
| Q3 24 | 13.0% | — | ||
| Q2 24 | 16.5% | — | ||
| Q1 24 | 16.3% | — |
营业利润率EVHLFST
| Q4 25 | -87.1% | 4.7% | ||
| Q3 25 | 0.2% | 2.0% | ||
| Q2 25 | -0.3% | -0.9% | ||
| Q1 25 | -0.3% | 0.5% | ||
| Q4 24 | -2.9% | 0.3% | ||
| Q3 24 | -2.6% | 0.0% | ||
| Q2 24 | 1.2% | -5.1% | ||
| Q1 24 | -2.1% | -5.6% |
净利率EVHLFST
| Q4 25 | -91.6% | 3.1% | ||
| Q3 25 | -4.4% | 0.3% | ||
| Q2 25 | -4.5% | -1.1% | ||
| Q1 25 | -13.4% | 0.2% | ||
| Q4 24 | -3.5% | -2.2% | ||
| Q3 24 | -3.7% | -1.9% | ||
| Q2 24 | 0.2% | -7.5% | ||
| Q1 24 | -2.7% | -7.0% |
每股收益（稀释后）EVHLFST
| Q4 25 | $-3.76 | — | ||
| Q3 25 | $-0.24 | — | ||
| Q2 25 | $-0.44 | — | ||
| Q1 25 | $-0.63 | — | ||
| Q4 24 | $-0.26 | — | ||
| Q3 24 | $-0.27 | — | ||
| Q2 24 | $-0.06 | — | ||
| Q1 24 | $-0.22 | — |
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 | $151.9M | $248.6M |
| 总债务越低越好 | — | $282.8M |
| 股东权益账面价值 | $415.2M | $1.5B |
| 总资产 | $1.9B | $2.2B |
| 负债/权益比越低杠杆越低 | — | 0.19× |
8季度趋势，按日历期对齐
现金及短期投资EVHLFST
| Q4 25 | $151.9M | $248.6M | ||
| Q3 25 | $116.7M | $203.9M | ||
| Q2 25 | $151.0M | $188.9M | ||
| Q1 25 | $246.5M | $134.3M | ||
| Q4 24 | $104.2M | $154.6M | ||
| Q3 24 | $96.6M | $102.6M | ||
| Q2 24 | $101.3M | $87.0M | ||
| Q1 24 | $165.1M | $49.5M |
总债务EVHLFST
| Q4 25 | — | $282.8M | ||
| Q3 25 | — | $284.6M | ||
| Q2 25 | — | $286.4M | ||
| Q1 25 | — | $288.2M | ||
| Q4 24 | — | $290.0M | ||
| Q3 24 | — | $287.3M | ||
| Q2 24 | — | $288.0M | ||
| Q1 24 | — | $288.8M |
股东权益EVHLFST
| Q4 25 | $415.2M | $1.5B | ||
| Q3 25 | $842.2M | $1.5B | ||
| Q2 25 | $896.0M | $1.5B | ||
| Q1 25 | $935.5M | $1.5B | ||
| Q4 24 | $1.0B | $1.4B | ||
| Q3 24 | $1.0B | $1.4B | ||
| Q2 24 | $1.1B | $1.4B | ||
| Q1 24 | $1.0B | $1.4B |
总资产EVHLFST
| Q4 25 | $1.9B | $2.2B | ||
| Q3 25 | $2.5B | $2.1B | ||
| Q2 25 | $2.5B | $2.1B | ||
| Q1 25 | $2.7B | $2.1B | ||
| Q4 24 | $2.5B | $2.1B | ||
| Q3 24 | $2.5B | $2.1B | ||
| Q2 24 | $2.5B | $2.1B | ||
| Q1 24 | $2.6B | $2.1B |
负债/权益比EVHLFST
| Q4 25 | — | 0.19× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.19× | ||
| Q1 25 | — | 0.20× | ||
| Q4 24 | — | 0.20× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | — | 0.20× | ||
| Q1 24 | — | 0.20× |
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 | $48.8M | $57.6M |
| 自由现金流经营现金流 - 资本支出 | — | $46.6M |
| 自由现金流率自由现金流/营收 | — | 12.2% |
| 资本支出强度资本支出/营收 | — | 2.9% |
| 现金转化率经营现金流/净利润 | — | 4.93× |
| 过去12个月自由现金流最近4个季度 | — | $110.0M |
8季度趋势，按日历期对齐
经营现金流EVHLFST
| Q4 25 | $48.8M | $57.6M | ||
| Q3 25 | $15.8M | $27.3M | ||
| Q2 25 | $-30.3M | $64.4M | ||
| Q1 25 | $4.6M | $-3.1M | ||
| Q4 24 | $-26.2M | $62.3M | ||
| Q3 24 | $18.7M | $22.7M | ||
| Q2 24 | $21.4M | $44.1M | ||
| Q1 24 | $4.9M | $-21.8M |
自由现金流EVHLFST
| Q4 25 | — | $46.6M | ||
| Q3 25 | — | $17.0M | ||
| Q2 25 | — | $56.6M | ||
| Q1 25 | — | $-10.3M | ||
| Q4 24 | — | $56.0M | ||
| Q3 24 | — | $17.7M | ||
| Q2 24 | — | $39.0M | ||
| Q1 24 | — | $-26.9M |
自由现金流率EVHLFST
| Q4 25 | — | 12.2% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 16.4% | ||
| Q1 25 | — | -3.1% | ||
| Q4 24 | — | 17.2% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | — | -9.0% |
资本支出强度EVHLFST
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 1.7% |
现金转化率EVHLFST
| Q4 25 | — | 4.93× | ||
| Q3 25 | — | 25.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -4.36× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 13.42× | — | ||
| Q1 24 | — | — |
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
EVH
| Commercial And Other Customers | $147.9M | 32% |
| Medicare Customers | $111.2M | 24% |
| Specialty Technology And Services Suite | $95.7M | 20% |
| Administrative Service | $55.8M | 12% |
| Cases | $47.7M | 10% |
| Related Party | $4.5M | 1% |
LFST
暂无分部数据
