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费森尤斯医疗（FMS）与梅西百货（M）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梅西百货的1.2倍（$5.5B vs $4.7B），费森尤斯医疗净利率更高（7.9% vs 0.2%，领先7.7%），费森尤斯医疗同比增速更快（-0.3% vs -0.6%）
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。
梅西百货是美国知名百货控股集团，1929年成立时名为联合百货，最初持有Abraham & Straus、Lazarus等多个区域连锁百货品牌，次年布鲁明戴尔正式加入。集团早年频繁开展资产并购与剥离，1994年收购1858年创立的老牌百货梅西，随后更名并发展为美国头部百货零售企业。
FMS vs M — 直观对比
营收规模更大
FMS
是对方的1.2倍
$4.7B
营收增速更快
FMS
高出0.3%
-0.6%
净利率更高
FMS
高出7.7%
0.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $4.7B |
| 净利润 | $434.2M | $11.0M |
| 毛利率 | 27.4% | 39.4% |
| 营业利润率 | 11.7% | 0.9% |
| 净利率 | 7.9% | 0.2% |
| 营收同比 | -0.3% | -0.6% |
| 净利润同比 | 240.4% | -60.7% |
| 每股收益（稀释后） | — | $0.04 |
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FMSM
| Q4 25 | $5.5B | $4.7B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | — | $4.6B | ||
| Q1 25 | — | $7.8B | ||
| Q4 24 | $5.5B | $4.7B | ||
| Q3 24 | — | $4.9B | ||
| Q2 24 | — | $4.8B | ||
| Q1 24 | — | $8.1B |
净利润FMSM
| Q4 25 | $434.2M | $11.0M | ||
| Q3 25 | — | $87.0M | ||
| Q2 25 | — | $38.0M | ||
| Q1 25 | — | $342.0M | ||
| Q4 24 | $127.6M | $28.0M | ||
| Q3 24 | — | $150.0M | ||
| Q2 24 | — | $62.0M | ||
| Q1 24 | — | $-71.0M |
毛利率FMSM
| Q4 25 | 27.4% | 39.4% | ||
| Q3 25 | — | 39.7% | ||
| Q2 25 | — | 39.2% | ||
| Q1 25 | — | 35.7% | ||
| Q4 24 | 25.0% | 39.6% | ||
| Q3 24 | — | 40.5% | ||
| Q2 24 | — | 39.2% | ||
| Q1 24 | — | 37.5% |
营业利润率FMSM
| Q4 25 | 11.7% | 0.9% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 6.4% | ||
| Q4 24 | 5.1% | 1.3% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | — | -0.9% |
净利率FMSM
| Q4 25 | 7.9% | 0.2% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | 2.3% | 0.6% | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | -0.9% |
每股收益（稀释后）FMSM
| Q4 25 | — | $0.04 | ||
| Q3 25 | — | $0.31 | ||
| Q2 25 | — | $0.13 | ||
| Q1 25 | — | $1.22 | ||
| Q4 24 | — | $0.10 | ||
| Q3 24 | — | $0.53 | ||
| Q2 24 | — | $0.22 | ||
| Q1 24 | — | $-0.25 |
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 | $447.0M |
| 总债务越低越好 | — | $2.4B |
| 股东权益账面价值 | $15.4B | $4.3B |
| 总资产 | $33.5B | $17.1B |
| 负债/权益比越低杠杆越低 | — | 0.56× |
8季度趋势，按日历期对齐
现金及短期投资FMSM
| Q4 25 | $1.7B | $447.0M | ||
| Q3 25 | — | $829.0M | ||
| Q2 25 | — | $932.0M | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $1.3B | $315.0M | ||
| Q3 24 | — | $646.0M | ||
| Q2 24 | — | $876.0M | ||
| Q1 24 | — | $1.0B |
总债务FMSM
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $3.0B |
股东权益FMSM
| Q4 25 | $15.4B | $4.3B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | $17.0B | $4.1B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
总资产FMSM
| Q4 25 | $33.5B | $17.1B | ||
| Q3 25 | — | $15.6B | ||
| Q2 25 | — | $16.1B | ||
| Q1 25 | — | $16.4B | ||
| Q4 24 | $36.3B | $17.3B | ||
| Q3 24 | — | $15.8B | ||
| Q2 24 | — | $16.4B | ||
| Q1 24 | — | $16.2B |
负债/权益比FMSM
| Q4 25 | — | 0.56× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.72× | ||
| Q1 24 | — | 0.72× |
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 | $-8.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-101.0M |
| 自由现金流率自由现金流/营收 | — | -2.1% |
| 资本支出强度资本支出/营收 | — | 2.0% |
| 现金转化率经营现金流/净利润 | 6.67× | -0.73× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流FMSM
| Q4 25 | $2.9B | $-8.0M | ||
| Q3 25 | — | $319.0M | ||
| Q2 25 | — | $-64.0M | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $2.6B | $-167.0M | ||
| Q3 24 | — | $8.0M | ||
| Q2 24 | — | $129.0M | ||
| Q1 24 | — | $1.1B |
自由现金流FMSM
| Q4 25 | — | $-101.0M | ||
| Q3 25 | — | $240.0M | ||
| Q2 25 | — | $-164.0M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $-295.0M | ||
| Q3 24 | — | $-109.0M | ||
| Q2 24 | — | $-25.0M | ||
| Q1 24 | — | $1.0B |
自由现金流率FMSM
| Q4 25 | — | -2.1% | ||
| Q3 25 | — | 5.0% | ||
| Q2 25 | — | -3.6% | ||
| Q1 25 | — | 15.3% | ||
| Q4 24 | — | -6.2% | ||
| Q3 24 | — | -2.2% | ||
| Q2 24 | — | -0.5% | ||
| Q1 24 | — | 12.3% |
资本支出强度FMSM
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 3.2% | ||
| Q1 24 | — | 1.8% |
现金转化率FMSM
| Q4 25 | 6.67× | -0.73× | ||
| Q3 25 | — | 3.67× | ||
| Q2 25 | — | -1.68× | ||
| Q1 25 | — | 3.82× | ||
| Q4 24 | 20.20× | -5.96× | ||
| Q3 24 | — | 0.05× | ||
| Q2 24 | — | 2.08× | ||
| 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
M
| Womens Accessories Shoes Cosmetics And Fragrances | $1.9B | 41% |
| Womens Apparel | $1.1B | 23% |
| Mens And Kids | $1.0B | 22% |
| Home Other | $638.0M | 14% |
| Credit Card Revenues Net | $158.0M | 3% |
| Macys Media Network Revenue Net | $42.0M | 1% |
