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Evolent Health, Inc.（EVH）与Pediatrix Medical Group, Inc.（MD）财务数据对比。点击上方公司名可切换其他公司
Pediatrix Medical Group, Inc.的季度营收约是Evolent Health, Inc.的1.1倍（$493.8M vs $468.7M），Pediatrix Medical Group, Inc.净利率更高（6.8% vs -91.6%，领先98.4%），Pediatrix Medical Group, Inc.同比增速更快（-1.7% vs -27.5%），过去两年Pediatrix Medical Group, Inc.的营收复合增速更高（-0.1% 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。
Pediatrix Medical Group是美国领先的专科医疗服务提供商，核心业务覆盖母胎医学、新生儿科、儿科心脏病学等儿科亚专科领域，与美国各地医疗机构合作，为女性、新生儿及儿童提供循证专科医疗服务。
EVH vs MD — 直观对比
营收规模更大
MD
是对方的1.1倍
$468.7M
营收增速更快
MD
高出25.8%
-27.5%
净利率更高
MD
高出98.4%
-91.6%
两年增速更快
MD
近两年复合增速
-14.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $468.7M | $493.8M |
| 净利润 | $-429.1M | $33.7M |
| 毛利率 | 20.7% | — |
| 营业利润率 | -87.1% | 9.9% |
| 净利率 | -91.6% | 6.8% |
| 营收同比 | -27.5% | -1.7% |
| 净利润同比 | -1782.0% | 10.5% |
| 每股收益（稀释后） | $-3.76 | $0.40 |
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EVHMD
| Q4 25 | $468.7M | $493.8M | ||
| Q3 25 | $479.5M | $492.9M | ||
| Q2 25 | $444.3M | $468.8M | ||
| Q1 25 | $483.6M | $458.4M | ||
| Q4 24 | $646.5M | $502.4M | ||
| Q3 24 | $621.4M | $511.2M | ||
| Q2 24 | $647.1M | $504.3M | ||
| Q1 24 | $639.7M | $495.1M |
净利润EVHMD
| Q4 25 | $-429.1M | $33.7M | ||
| Q3 25 | $-20.9M | $71.7M | ||
| Q2 25 | $-19.9M | $39.3M | ||
| Q1 25 | $-64.6M | $20.7M | ||
| Q4 24 | $-22.8M | $30.5M | ||
| Q3 24 | $-23.1M | $19.4M | ||
| Q2 24 | $1.6M | $-153.0M | ||
| Q1 24 | $-17.3M | $4.0M |
毛利率EVHMD
| 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EVHMD
| Q4 25 | -87.1% | 9.9% | ||
| Q3 25 | 0.2% | 13.8% | ||
| Q2 25 | -0.3% | 12.8% | ||
| Q1 25 | -0.3% | 7.0% | ||
| Q4 24 | -2.9% | 7.8% | ||
| Q3 24 | -2.6% | 6.6% | ||
| Q2 24 | 1.2% | -31.3% | ||
| Q1 24 | -2.1% | 3.2% |
净利率EVHMD
| Q4 25 | -91.6% | 6.8% | ||
| Q3 25 | -4.4% | 14.5% | ||
| Q2 25 | -4.5% | 8.4% | ||
| Q1 25 | -13.4% | 4.5% | ||
| Q4 24 | -3.5% | 6.1% | ||
| Q3 24 | -3.7% | 3.8% | ||
| Q2 24 | 0.2% | -30.3% | ||
| Q1 24 | -2.7% | 0.8% |
每股收益（稀释后）EVHMD
| Q4 25 | $-3.76 | $0.40 | ||
| Q3 25 | $-0.24 | $0.84 | ||
| Q2 25 | $-0.44 | $0.46 | ||
| Q1 25 | $-0.63 | $0.24 | ||
| Q4 24 | $-0.26 | $0.37 | ||
| Q3 24 | $-0.27 | $0.23 | ||
| Q2 24 | $-0.06 | $-1.84 | ||
| Q1 24 | $-0.22 | $0.05 |
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 | $375.2M |
| 总债务越低越好 | — | $570.5M |
| 股东权益账面价值 | $415.2M | $865.9M |
| 总资产 | $1.9B | $2.2B |
| 负债/权益比越低杠杆越低 | — | 0.66× |
8季度趋势，按日历期对齐
现金及短期投资EVHMD
| Q4 25 | $151.9M | $375.2M | ||
| Q3 25 | $116.7M | $340.1M | ||
| Q2 25 | $151.0M | $224.7M | ||
| Q1 25 | $246.5M | $99.0M | ||
| Q4 24 | $104.2M | $229.9M | ||
| Q3 24 | $96.6M | $103.8M | ||
| Q2 24 | $101.3M | $19.4M | ||
| Q1 24 | $165.1M | $8.0M |
总债务EVHMD
| Q4 25 | — | $570.5M | ||
| Q3 25 | — | $577.2M | ||
| Q2 25 | — | $583.9M | ||
| Q1 25 | — | $590.5M | ||
| Q4 24 | — | $597.1M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益EVHMD
| Q4 25 | $415.2M | $865.9M | ||
| Q3 25 | $842.2M | $890.7M | ||
| Q2 25 | $896.0M | $833.8M | ||
| Q1 25 | $935.5M | $789.2M | ||
| Q4 24 | $1.0B | $764.9M | ||
| Q3 24 | $1.0B | $732.5M | ||
| Q2 24 | $1.1B | $706.5M | ||
| Q1 24 | $1.0B | $856.2M |
总资产EVHMD
| Q4 25 | $1.9B | $2.2B | ||
| Q3 25 | $2.5B | $2.2B | ||
| Q2 25 | $2.5B | $2.1B | ||
| Q1 25 | $2.7B | $2.0B | ||
| Q4 24 | $2.5B | $2.2B | ||
| Q3 24 | $2.5B | $2.1B | ||
| Q2 24 | $2.5B | $2.0B | ||
| Q1 24 | $2.6B | $2.2B |
负债/权益比EVHMD
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 0.78× | ||
| 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 | $48.8M | $114.1M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 3.39× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流EVHMD
| Q4 25 | $48.8M | $114.1M | ||
| Q3 25 | $15.8M | $137.3M | ||
| Q2 25 | $-30.3M | $137.2M | ||
| Q1 25 | $4.6M | $-117.5M | ||
| Q4 24 | $-26.2M | $133.0M | ||
| Q3 24 | $18.7M | $91.8M | ||
| Q2 24 | $21.4M | $107.0M | ||
| Q1 24 | $4.9M | $-125.2M |
现金转化率EVHMD
| Q4 25 | — | 3.39× | ||
| Q3 25 | — | 1.91× | ||
| Q2 25 | — | 3.49× | ||
| Q1 25 | — | -5.66× | ||
| Q4 24 | — | 4.36× | ||
| Q3 24 | — | 4.72× | ||
| Q2 24 | 13.42× | — | ||
| Q1 24 | — | -31.03× |
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% |
MD
| Health Care Patient Service | $421.6M | 85% |
| Hospitals Contracts | $70.0M | 14% |
| Other | $2.2M | 0% |
