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Evolent Health, Inc.（EVH）与Rithm Capital Corp.（RITM）财务数据对比。点击上方公司名可切换其他公司
Rithm Capital Corp.的季度营收约是Evolent Health, Inc.的1.8倍（$828.2M vs $468.7M），Rithm Capital Corp.净利率更高（13.2% vs -91.6%，领先104.8%），Rithm Capital Corp.同比增速更快（508.5% vs -27.5%），过去两年Evolent Health, Inc.的营收复合增速更高（-14.4% vs -17.9%）
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。
Rithm Capital Corp.是总部位于美国纽约的投资管理机构，核心业务聚焦房地产投资与另类资产投资，依托专业的投研团队和成熟的市场运营经验，为合作伙伴及投资者提供优质的资产配置解决方案与长期收益回报。
EVH vs RITM — 直观对比
营收规模更大
RITM
是对方的1.8倍
$468.7M
营收增速更快
RITM
高出536.0%
-27.5%
净利率更高
RITM
高出104.8%
-91.6%
两年增速更快
EVH
近两年复合增速
-17.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $468.7M | $828.2M |
| 净利润 | $-429.1M | $109.5M |
| 毛利率 | 20.7% | — |
| 营业利润率 | -87.1% | 29.9% |
| 净利率 | -91.6% | 13.2% |
| 营收同比 | -27.5% | 508.5% |
| 净利润同比 | -1782.0% | 27.7% |
| 每股收益（稀释后） | $-3.76 | $0.12 |
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EVHRITM
| Q1 26 | — | $828.2M | ||
| Q4 25 | $468.7M | $1.5B | ||
| Q3 25 | $479.5M | $1.1B | ||
| Q2 25 | $444.3M | $1.2B | ||
| Q1 25 | $483.6M | $768.4M | ||
| Q4 24 | $646.5M | $2.1B | ||
| Q3 24 | $621.4M | $619.5M | ||
| Q2 24 | $647.1M | $1.2B |
净利润EVHRITM
| Q1 26 | — | $109.5M | ||
| Q4 25 | $-429.1M | $85.0M | ||
| Q3 25 | $-20.9M | $221.5M | ||
| Q2 25 | $-19.9M | $311.7M | ||
| Q1 25 | $-64.6M | $78.8M | ||
| Q4 24 | $-22.8M | $290.2M | ||
| Q3 24 | $-23.1M | $121.7M | ||
| Q2 24 | $1.6M | $235.6M |
毛利率EVHRITM
| Q1 26 | — | — | ||
| 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% | — |
营业利润率EVHRITM
| Q1 26 | — | 29.9% | ||
| Q4 25 | -87.1% | 13.8% | ||
| Q3 25 | 0.2% | 21.4% | ||
| Q2 25 | -0.3% | 25.2% | ||
| Q1 25 | -0.3% | 7.4% | ||
| Q4 24 | -2.9% | 23.8% | ||
| Q3 24 | -2.6% | 7.3% | ||
| Q2 24 | 1.2% | 23.6% |
净利率EVHRITM
| Q1 26 | — | 13.2% | ||
| Q4 25 | -91.6% | 5.7% | ||
| Q3 25 | -4.4% | 20.0% | ||
| Q2 25 | -4.5% | 25.6% | ||
| Q1 25 | -13.4% | 10.3% | ||
| Q4 24 | -3.5% | 14.0% | ||
| Q3 24 | -3.7% | 19.7% | ||
| Q2 24 | 0.2% | 19.2% |
每股收益（稀释后）EVHRITM
| Q1 26 | — | $0.12 | ||
| Q4 25 | $-3.76 | $0.09 | ||
| Q3 25 | $-0.24 | $0.35 | ||
| Q2 25 | $-0.44 | $0.53 | ||
| Q1 25 | $-0.63 | $0.07 | ||
| Q4 24 | $-0.26 | $0.50 | ||
| Q3 24 | $-0.27 | $0.20 | ||
| Q2 24 | $-0.06 | $0.43 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $415.2M | $9.1B |
| 总资产 | $1.9B | $53.4B |
| 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EVHRITM
| Q1 26 | — | — | ||
| Q4 25 | $151.9M | $1.8B | ||
| Q3 25 | $116.7M | $1.6B | ||
| Q2 25 | $151.0M | $1.6B | ||
| Q1 25 | $246.5M | $1.5B | ||
| Q4 24 | $104.2M | $1.5B | ||
| Q3 24 | $96.6M | $1.6B | ||
| Q2 24 | $101.3M | $1.2B |
总债务EVHRITM
| Q1 26 | — | — | ||
| Q4 25 | — | $35.4B | ||
| Q3 25 | — | $32.2B | ||
| Q2 25 | — | $31.2B | ||
| Q1 25 | — | $32.2B | ||
| Q4 24 | — | $32.6B | ||
| Q3 24 | — | $29.6B | ||
| Q2 24 | — | $30.1B |
股东权益EVHRITM
| Q1 26 | — | $9.1B | ||
| Q4 25 | $415.2M | $8.4B | ||
| Q3 25 | $842.2M | $8.5B | ||
| Q2 25 | $896.0M | $7.9B | ||
| Q1 25 | $935.5M | $7.8B | ||
| Q4 24 | $1.0B | $7.8B | ||
| Q3 24 | $1.0B | $7.7B | ||
| Q2 24 | $1.1B | $7.3B |
总资产EVHRITM
| Q1 26 | — | $53.4B | ||
| Q4 25 | $1.9B | $53.1B | ||
| Q3 25 | $2.5B | $47.2B | ||
| Q2 25 | $2.5B | $44.3B | ||
| Q1 25 | $2.7B | $45.3B | ||
| Q4 24 | $2.5B | $46.0B | ||
| Q3 24 | $2.5B | $42.3B | ||
| Q2 24 | $2.5B | $42.0B |
负债/权益比EVHRITM
| Q1 26 | — | — | ||
| Q4 25 | — | 4.20× | ||
| Q3 25 | — | 3.79× | ||
| Q2 25 | — | 3.92× | ||
| Q1 25 | — | 4.14× | ||
| Q4 24 | — | 4.18× | ||
| Q3 24 | — | 3.87× | ||
| Q2 24 | — | 4.10× |
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 | — |
| 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 | — | — |
| 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EVHRITM
| Q1 26 | — | — | ||
| Q4 25 | $48.8M | $-114.6M | ||
| Q3 25 | $15.8M | $-2.0B | ||
| Q2 25 | $-30.3M | $-557.1M | ||
| Q1 25 | $4.6M | $1.4B | ||
| Q4 24 | $-26.2M | $-1.8B | ||
| Q3 24 | $18.7M | $768.1M | ||
| Q2 24 | $21.4M | $-55.7M |
现金转化率EVHRITM
| Q1 26 | — | — | ||
| Q4 25 | — | -1.35× | ||
| Q3 25 | — | -9.22× | ||
| Q2 25 | — | -1.79× | ||
| Q1 25 | — | 18.03× | ||
| Q4 24 | — | -6.04× | ||
| Q3 24 | — | 6.31× | ||
| Q2 24 | 13.42× | -0.24× |
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% |
RITM
| Servicing revenue, net | $375.1M | 45% |
| Other | $234.9M | 28% |
| Gain on originated residential mortgage loans, held-for-sale, net | $195.0M | 24% |
| Other revenue | $23.3M | 3% |
