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Evolent Health, Inc.（EVH）与Rackspace Technology, Inc.（RXT）财务数据对比。点击上方公司名可切换其他公司
Rackspace Technology, Inc.的季度营收约是Evolent Health, Inc.的1.5倍（$682.8M vs $468.7M），Rackspace Technology, Inc.净利率更高（-4.8% vs -91.6%，领先86.8%），Rackspace Technology, Inc.同比增速更快（-0.4% vs -27.5%），过去两年Rackspace Technology, Inc.的营收复合增速更高（-0.6% 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。
Rackspace Technology, Inc.是总部位于美国得克萨斯州圣安东尼奥的云计算企业，在弗吉尼亚州雷斯顿以及澳大利亚、加拿大、英国、印度、迪拜、瑞士、荷兰、德国、新加坡、墨西哥、中国香港等多个国家和地区设有办事处，数据中心分布于全球多个主要城市，为客户提供专业的云计算相关服务。
EVH vs RXT — 直观对比
营收规模更大
RXT
是对方的1.5倍
$468.7M
营收增速更快
RXT
高出27.1%
-27.5%
净利率更高
RXT
高出86.8%
-91.6%
两年增速更快
RXT
近两年复合增速
-14.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $468.7M | $682.8M |
| 净利润 | $-429.1M | $-32.7M |
| 毛利率 | 20.7% | 17.6% |
| 营业利润率 | -87.1% | -0.5% |
| 净利率 | -91.6% | -4.8% |
| 营收同比 | -27.5% | -0.4% |
| 净利润同比 | -1782.0% | 41.6% |
| 每股收益（稀释后） | $-3.76 | $-0.13 |
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EVHRXT
| Q4 25 | $468.7M | $682.8M | ||
| Q3 25 | $479.5M | $671.2M | ||
| Q2 25 | $444.3M | $666.3M | ||
| Q1 25 | $483.6M | $665.4M | ||
| Q4 24 | $646.5M | $685.6M | ||
| Q3 24 | $621.4M | $675.8M | ||
| Q2 24 | $647.1M | $684.9M | ||
| Q1 24 | $639.7M | $690.8M |
净利润EVHRXT
| Q4 25 | $-429.1M | $-32.7M | ||
| Q3 25 | $-20.9M | $-67.1M | ||
| Q2 25 | $-19.9M | $-54.5M | ||
| Q1 25 | $-64.6M | $-71.5M | ||
| Q4 24 | $-22.8M | $-56.0M | ||
| Q3 24 | $-23.1M | $-186.6M | ||
| Q2 24 | $1.6M | $25.0M | ||
| Q1 24 | $-17.3M | $-640.6M |
毛利率EVHRXT
| Q4 25 | 20.7% | 17.6% | ||
| Q3 25 | 20.8% | 19.4% | ||
| Q2 25 | 22.6% | 19.4% | ||
| Q1 25 | 21.2% | 19.1% | ||
| Q4 24 | 11.7% | 19.2% | ||
| Q3 24 | 13.0% | 20.3% | ||
| Q2 24 | 16.5% | 19.2% | ||
| Q1 24 | 16.3% | 19.2% |
营业利润率EVHRXT
| Q4 25 | -87.1% | -0.5% | ||
| Q3 25 | 0.2% | -5.1% | ||
| Q2 25 | -0.3% | -3.8% | ||
| Q1 25 | -0.3% | -5.8% | ||
| Q4 24 | -2.9% | -4.2% | ||
| Q3 24 | -2.6% | -25.7% | ||
| Q2 24 | 1.2% | -7.9% | ||
| Q1 24 | -2.1% | -94.5% |
净利率EVHRXT
| Q4 25 | -91.6% | -4.8% | ||
| Q3 25 | -4.4% | -10.0% | ||
| Q2 25 | -4.5% | -8.2% | ||
| Q1 25 | -13.4% | -10.7% | ||
| Q4 24 | -3.5% | -8.2% | ||
| Q3 24 | -3.7% | -27.6% | ||
| Q2 24 | 0.2% | 3.7% | ||
| Q1 24 | -2.7% | -92.7% |
每股收益（稀释后）EVHRXT
| Q4 25 | $-3.76 | $-0.13 | ||
| Q3 25 | $-0.24 | $-0.28 | ||
| Q2 25 | $-0.44 | $-0.23 | ||
| Q1 25 | $-0.63 | $-0.31 | ||
| Q4 24 | $-0.26 | $-0.20 | ||
| Q3 24 | $-0.27 | $-0.82 | ||
| Q2 24 | $-0.06 | $0.11 | ||
| Q1 24 | $-0.22 | $-2.91 |
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 | $105.8M |
| 总债务越低越好 | — | $2.7B |
| 股东权益账面价值 | $415.2M | $-1.2B |
| 总资产 | $1.9B | $2.8B |
| 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EVHRXT
| Q4 25 | $151.9M | $105.8M | ||
| Q3 25 | $116.7M | $99.5M | ||
| Q2 25 | $151.0M | $103.9M | ||
| Q1 25 | $246.5M | $128.0M | ||
| Q4 24 | $104.2M | $144.0M | ||
| Q3 24 | $96.6M | $157.1M | ||
| Q2 24 | $101.3M | $190.2M | ||
| Q1 24 | $165.1M | $282.6M |
总债务EVHRXT
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.9B | ||
| Q1 24 | — | $3.0B |
股东权益EVHRXT
| Q4 25 | $415.2M | $-1.2B | ||
| Q3 25 | $842.2M | $-1.2B | ||
| Q2 25 | $896.0M | $-1.1B | ||
| Q1 25 | $935.5M | $-1.1B | ||
| Q4 24 | $1.0B | $-1.0B | ||
| Q3 24 | $1.0B | $-949.7M | ||
| Q2 24 | $1.1B | $-756.2M | ||
| Q1 24 | $1.0B | $-787.2M |
总资产EVHRXT
| Q4 25 | $1.9B | $2.8B | ||
| Q3 25 | $2.5B | $2.8B | ||
| Q2 25 | $2.5B | $2.9B | ||
| Q1 25 | $2.7B | $3.0B | ||
| Q4 24 | $2.5B | $3.1B | ||
| Q3 24 | $2.5B | $3.1B | ||
| Q2 24 | $2.5B | $3.4B | ||
| Q1 24 | $2.6B | $3.5B |
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 | $59.7M |
| 自由现金流经营现金流 - 资本支出 | — | $56.0M |
| 自由现金流率自由现金流/营收 | — | 8.2% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 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 | — | $90.6M |
8季度趋势，按日历期对齐
经营现金流EVHRXT
| Q4 25 | $48.8M | $59.7M | ||
| Q3 25 | $15.8M | $70.7M | ||
| Q2 25 | $-30.3M | $8.4M | ||
| Q1 25 | $4.6M | $12.6M | ||
| Q4 24 | $-26.2M | $54.3M | ||
| Q3 24 | $18.7M | $51.8M | ||
| Q2 24 | $21.4M | $24.1M | ||
| Q1 24 | $4.9M | $-90.3M |
自由现金流EVHRXT
| Q4 25 | — | $56.0M | ||
| Q3 25 | — | $42.7M | ||
| Q2 25 | — | $-12.4M | ||
| Q1 25 | — | $4.3M | ||
| Q4 24 | — | $34.4M | ||
| Q3 24 | — | $27.3M | ||
| Q2 24 | — | $-14.5M | ||
| Q1 24 | — | $-118.4M |
自由现金流率EVHRXT
| Q4 25 | — | 8.2% | ||
| Q3 25 | — | 6.4% | ||
| Q2 25 | — | -1.9% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | 4.0% | ||
| Q2 24 | — | -2.1% | ||
| Q1 24 | — | -17.1% |
资本支出强度EVHRXT
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 4.2% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | — | 5.6% | ||
| Q1 24 | — | 4.1% |
现金转化率EVHRXT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 13.42× | 0.96× | ||
| 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% |
RXT
| Public Cloud Services Segment | $442.2M | 65% |
| Private Cloud Service Segment | $240.6M | 35% |
