vs
费森尤斯医疗（FMS）与勤达睿（KD）财务数据对比。点击上方公司名可切换其他公司
费森尤斯医疗的季度营收约是勤达睿的1.4倍（$5.5B vs $3.9B），费森尤斯医疗净利率更高（7.9% vs 1.5%，领先6.5%），勤达睿同比增速更快（3.1% vs -0.3%）
费森尤斯医疗是德国知名医疗保健企业，核心业务为肾脏透析服务，在全球运营4171家门诊透析中心，服务约34.54万名患者。公司主要为终末期肾病患者提供治疗服务，该类患者需终身每周接受3次透析治疗以维持生命。
勤达睿是总部位于美国纽约的跨国IT基础设施服务提供商，2021年由IBM的基础设施服务业务分拆独立成立。公司业务涵盖大型信息系统的设计、搭建、运维与开发，同时提供商业咨询服务，是目前全球最大的IT基础设施服务提供商、全球第五大咨询服务提供商。
FMS vs KD — 直观对比
营收规模更大
FMS
是对方的1.4倍
$3.9B
营收增速更快
KD
高出3.4%
-0.3%
净利率更高
FMS
高出6.5%
1.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $3.9B |
| 净利润 | $434.2M | $57.0M |
| 毛利率 | 27.4% | 21.8% |
| 营业利润率 | 11.7% | 2.4% |
| 净利率 | 7.9% | 1.5% |
| 营收同比 | -0.3% | 3.1% |
| 净利润同比 | 240.4% | -73.5% |
| 每股收益（稀释后） | — | $0.25 |
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FMSKD
| Q4 25 | $5.5B | $3.9B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.8B | ||
| Q4 24 | $5.5B | $3.7B | ||
| Q3 24 | — | $3.8B | ||
| Q2 24 | — | $3.7B | ||
| Q1 24 | — | $3.9B |
净利润FMSKD
| Q4 25 | $434.2M | $57.0M | ||
| Q3 25 | — | $68.0M | ||
| Q2 25 | — | $56.0M | ||
| Q1 25 | — | $69.0M | ||
| Q4 24 | $127.6M | $215.0M | ||
| Q3 24 | — | $-43.0M | ||
| Q2 24 | — | $11.0M | ||
| Q1 24 | — | $-45.0M |
毛利率FMSKD
| Q4 25 | 27.4% | 21.8% | ||
| Q3 25 | — | 21.5% | ||
| Q2 25 | — | 21.3% | ||
| Q1 25 | — | 21.7% | ||
| Q4 24 | 25.0% | 20.4% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.5% | ||
| Q1 24 | — | 18.6% |
营业利润率FMSKD
| Q4 25 | 11.7% | 2.4% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | 5.1% | 6.9% | ||
| Q3 24 | — | -0.1% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | -0.1% |
净利率FMSKD
| Q4 25 | 7.9% | 1.5% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | 2.3% | 5.7% | ||
| Q3 24 | — | -1.1% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | -1.2% |
每股收益（稀释后）FMSKD
| Q4 25 | — | $0.25 | ||
| Q3 25 | — | $0.29 | ||
| Q2 25 | — | $0.23 | ||
| Q1 25 | — | $0.30 | ||
| Q4 24 | — | $0.89 | ||
| Q3 24 | — | $-0.19 | ||
| Q2 24 | — | $0.05 | ||
| Q1 24 | — | $-0.19 |
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 | $1.7B | $1.3B |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $15.4B | $1.2B |
| 总资产 | $33.5B | $11.3B |
| 负债/权益比越低杠杆越低 | — | 1.92× |
8季度趋势，按日历期对齐
现金及短期投资FMSKD
| Q4 25 | $1.7B | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.6B |
总债务FMSKD
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.1B | ||
| Q1 24 | — | $3.1B |
股东权益FMSKD
| Q4 25 | $15.4B | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $17.0B | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $996.0M | ||
| Q1 24 | — | $1.0B |
总资产FMSKD
| Q4 25 | $33.5B | $11.3B | ||
| Q3 25 | — | $11.2B | ||
| Q2 25 | — | $11.5B | ||
| Q1 25 | — | $10.5B | ||
| Q4 24 | $36.3B | $9.9B | ||
| Q3 24 | — | $10.4B | ||
| Q2 24 | — | $10.2B | ||
| Q1 24 | — | $10.6B |
负债/权益比FMSKD
| Q4 25 | — | 1.92× | ||
| Q3 25 | — | 2.45× | ||
| Q2 25 | — | 2.44× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | — | 2.81× | ||
| Q3 24 | — | 2.92× | ||
| Q2 24 | — | 3.12× | ||
| Q1 24 | — | 3.07× |
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 | $2.9B | $428.0M |
| 自由现金流经营现金流 - 资本支出 | — | $208.0M |
| 自由现金流率自由现金流/营收 | — | 5.4% |
| 资本支出强度资本支出/营收 | — | 5.7% |
| 现金转化率经营现金流/净利润 | 6.67× | 7.51× |
| 过去12个月自由现金流最近4个季度 | — | $299.0M |
8季度趋势，按日历期对齐
经营现金流FMSKD
| Q4 25 | $2.9B | $428.0M | ||
| Q3 25 | — | $146.0M | ||
| Q2 25 | — | $-124.0M | ||
| Q1 25 | — | $581.0M | ||
| Q4 24 | $2.6B | $260.0M | ||
| Q3 24 | — | $149.0M | ||
| Q2 24 | — | $-48.0M | ||
| Q1 24 | — | $145.0M |
自由现金流FMSKD
| Q4 25 | — | $208.0M | ||
| Q3 25 | — | $17.0M | ||
| Q2 25 | — | $-267.0M | ||
| Q1 25 | — | $341.0M | ||
| Q4 24 | — | $151.0M | ||
| Q3 24 | — | $15.0M | ||
| Q2 24 | — | $-170.0M | ||
| Q1 24 | — | $-57.0M |
自由现金流率FMSKD
| Q4 25 | — | 5.4% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | -7.1% | ||
| Q1 25 | — | 9.0% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | -4.5% | ||
| Q1 24 | — | -1.5% |
资本支出强度FMSKD
| Q4 25 | — | 5.7% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | 6.3% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | 5.2% |
现金转化率FMSKD
| Q4 25 | 6.67× | 7.51× | ||
| Q3 25 | — | 2.15× | ||
| Q2 25 | — | -2.21× | ||
| Q1 25 | — | 8.42× | ||
| Q4 24 | 20.20× | 1.21× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -4.36× | ||
| 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
FMS
暂无分部数据
KD
| Principal Markets Segment | $1.4B | 37% |
| United States Segment | $958.0M | 25% |
| Strategic Markets Segment | $905.0M | 23% |
| Other | $568.0M | 15% |
