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EXACT SCIENCES CORP（EXAS）与美世（MERC）财务数据对比。点击上方公司名可切换其他公司
EXACT SCIENCES CORP的季度营收约是美世的1.8倍（$878.4M vs $489.3M），EXACT SCIENCES CORP同比增速更快（23.1% vs -3.5%），过去两年EXACT SCIENCES CORP的营收复合增速更高（17.4% vs -1.0%）
Exact Sciences是总部位于美国威斯康星州麦迪逊的分子诊断企业，专注于早期癌症检测领域。公司核心产品覆盖结直肠癌筛查与预防场景，其中Cologuard是全球首个获批的结直肠癌粪便DNA检测产品，同时还提供其他多种癌症的筛查服务及精准肿瘤检测解决方案。
美世是1945年成立的美国咨询公司，为全球专业服务集团威达信的四大运营子公司之一，总部位于纽约，在43个国家设有办事处，业务覆盖130个国家，主要为客户提供人力资源与金融咨询服务。
EXAS vs MERC — 直观对比
营收规模更大
EXAS
是对方的1.8倍
$489.3M
营收增速更快
EXAS
高出26.6%
-3.5%
两年增速更快
EXAS
近两年复合增速
-1.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $878.4M | $489.3M |
| 净利润 | $-86.0M | — |
| 毛利率 | 70.1% | — |
| 营业利润率 | -9.4% | — |
| 净利率 | -9.8% | — |
| 营收同比 | 23.1% | -3.5% |
| 净利润同比 | 90.1% | — |
| 每股收益（稀释后） | $-0.45 | — |
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EXASMERC
| Q1 26 | — | $489.3M | ||
| Q4 25 | $878.4M | $449.5M | ||
| Q3 25 | $850.7M | $458.1M | ||
| Q2 25 | $811.1M | $453.5M | ||
| Q1 25 | $706.8M | $507.0M | ||
| Q4 24 | $713.4M | $488.4M | ||
| Q3 24 | $708.7M | $502.1M | ||
| Q2 24 | $699.3M | $499.4M |
净利润EXASMERC
| Q1 26 | — | — | ||
| Q4 25 | $-86.0M | $-308.7M | ||
| Q3 25 | $-19.6M | $-80.8M | ||
| Q2 25 | $-1.2M | $-86.1M | ||
| Q1 25 | $-101.2M | $-22.3M | ||
| Q4 24 | $-864.6M | $16.7M | ||
| Q3 24 | $-38.2M | $-17.6M | ||
| Q2 24 | $-15.8M | $-67.6M |
毛利率EXASMERC
| Q1 26 | — | — | ||
| Q4 25 | 70.1% | — | ||
| Q3 25 | 68.6% | — | ||
| Q2 25 | 69.3% | — | ||
| Q1 25 | 70.8% | — | ||
| Q4 24 | 69.0% | — | ||
| Q3 24 | 69.4% | — | ||
| Q2 24 | 69.8% | — |
营业利润率EXASMERC
| Q1 26 | — | — | ||
| Q4 25 | -9.4% | -62.0% | ||
| Q3 25 | -3.0% | -14.8% | ||
| Q2 25 | -0.3% | -12.9% | ||
| Q1 25 | -13.6% | 1.3% | ||
| Q4 24 | -122.8% | 10.3% | ||
| Q3 24 | -5.6% | 1.8% | ||
| Q2 24 | -3.8% | -8.8% |
净利率EXASMERC
| Q1 26 | — | — | ||
| Q4 25 | -9.8% | -68.7% | ||
| Q3 25 | -2.3% | -17.6% | ||
| Q2 25 | -0.1% | -19.0% | ||
| Q1 25 | -14.3% | -4.4% | ||
| Q4 24 | -121.2% | 3.4% | ||
| Q3 24 | -5.4% | -3.5% | ||
| Q2 24 | -2.3% | -13.5% |
每股收益（稀释后）EXASMERC
| Q1 26 | — | — | ||
| Q4 25 | $-0.45 | $-4.61 | ||
| Q3 25 | $-0.10 | $-1.21 | ||
| Q2 25 | $-0.01 | $-1.29 | ||
| Q1 25 | $-0.54 | $-0.33 | ||
| Q4 24 | $-4.69 | $0.25 | ||
| Q3 24 | $-0.21 | $-0.26 | ||
| Q2 24 | $-0.09 | $-1.01 |
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 | $964.7M | $84.5M |
| 总债务越低越好 | — | $1.5B |
| 股东权益账面价值 | $2.4B | — |
| 总资产 | $5.9B | $2.0B |
| 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EXASMERC
| Q1 26 | — | $84.5M | ||
| Q4 25 | $964.7M | $186.8M | ||
| Q3 25 | $1.0B | $98.1M | ||
| Q2 25 | $858.4M | $146.5M | ||
| Q1 25 | $786.2M | $181.5M | ||
| Q4 24 | $1.0B | $184.9M | ||
| Q3 24 | $1.0B | $239.0M | ||
| Q2 24 | $946.8M | $263.2M |
总债务EXASMERC
| Q1 26 | — | $1.5B | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B |
股东权益EXASMERC
| Q1 26 | — | — | ||
| Q4 25 | $2.4B | $68.1M | ||
| Q3 25 | $2.5B | $359.5M | ||
| Q2 25 | $2.5B | $446.5M | ||
| Q1 25 | $2.4B | $437.4M | ||
| Q4 24 | $2.4B | $429.8M | ||
| Q3 24 | $3.2B | $516.8M | ||
| Q2 24 | $3.2B | $487.7M |
总资产EXASMERC
| Q1 26 | — | $2.0B | ||
| Q4 25 | $5.9B | $2.0B | ||
| Q3 25 | $5.9B | $2.3B | ||
| Q2 25 | $5.8B | $2.4B | ||
| Q1 25 | $5.7B | $2.3B | ||
| Q4 24 | $5.9B | $2.3B | ||
| Q3 24 | $6.7B | $2.5B | ||
| Q2 24 | $6.7B | $2.5B |
负债/权益比EXASMERC
| Q1 26 | — | — | ||
| Q4 25 | — | 23.58× | ||
| Q3 25 | — | 4.30× | ||
| Q2 25 | — | 3.42× | ||
| Q1 25 | — | 3.44× | ||
| Q4 24 | — | 3.43× | ||
| Q3 24 | — | 3.09× | ||
| Q2 24 | — | 3.22× |
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 | $151.7M | — |
| 自由现金流经营现金流 - 资本支出 | $120.4M | — |
| 自由现金流率自由现金流/营收 | 13.7% | — |
| 资本支出强度资本支出/营收 | 3.6% | — |
| 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 | $356.8M | — |
8季度趋势，按日历期对齐
经营现金流EXASMERC
| Q1 26 | — | — | ||
| Q4 25 | $151.7M | $46.2M | ||
| Q3 25 | $219.9M | $-30.1M | ||
| Q2 25 | $89.0M | $-4.5M | ||
| Q1 25 | $30.8M | $-3.0M | ||
| Q4 24 | $47.1M | $71.2M | ||
| Q3 24 | $138.7M | $-13.9M | ||
| Q2 24 | $107.1M | $62.2M |
自由现金流EXASMERC
| Q1 26 | — | — | ||
| Q4 25 | $120.4M | $32.0M | ||
| Q3 25 | $190.0M | $-60.1M | ||
| Q2 25 | $46.7M | $-28.9M | ||
| Q1 25 | $-365.0K | $-23.1M | ||
| Q4 24 | $10.7M | $50.4M | ||
| Q3 24 | $112.6M | $-41.2M | ||
| Q2 24 | $71.2M | $44.3M |
自由现金流率EXASMERC
| Q1 26 | — | — | ||
| Q4 25 | 13.7% | 7.1% | ||
| Q3 25 | 22.3% | -13.1% | ||
| Q2 25 | 5.8% | -6.4% | ||
| Q1 25 | -0.1% | -4.6% | ||
| Q4 24 | 1.5% | 10.3% | ||
| Q3 24 | 15.9% | -8.2% | ||
| Q2 24 | 10.2% | 8.9% |
资本支出强度EXASMERC
| Q1 26 | — | — | ||
| Q4 25 | 3.6% | 3.1% | ||
| Q3 25 | 3.5% | 6.6% | ||
| Q2 25 | 5.2% | 5.4% | ||
| Q1 25 | 4.4% | 4.0% | ||
| Q4 24 | 5.1% | 4.2% | ||
| Q3 24 | 3.7% | 5.4% | ||
| Q2 24 | 5.1% | 3.6% |
现金转化率EXASMERC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.26× | ||
| Q3 24 | — | — | ||
| Q2 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
EXAS
| Screening | $695.1M | 79% |
| Precision Oncology | $183.2M | 21% |
MERC
| Pulp segment | $345.0M | 71% |
| Solid wood segment | $131.7M | 27% |
| Corporate and other | $12.6M | 3% |
