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费森尤斯医疗（FMS）与麦当劳（MCD）财务数据对比。点击上方公司名可切换其他公司
麦当劳的季度营收约是费森尤斯医疗的1.2倍（$6.5B vs $5.5B），麦当劳净利率更高（30.4% vs 7.9%，领先22.5%），麦当劳同比增速更快（9.4% 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。
麦当劳是源自美国的知名跨国连锁快餐品牌，主营汉堡、薯条、炸鸡等快餐食品，业务覆盖全球多个国家和地区。截至2024年，其全球门店数量在所有餐饮连锁品牌中位列第二，仅次于中国本土品牌蜜雪冰城。
FMS vs MCD — 直观对比
营收规模更大
MCD
是对方的1.2倍
$5.5B
营收增速更快
MCD
高出9.7%
-0.3%
净利率更高
MCD
高出22.5%
7.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $6.5B |
| 净利润 | $434.2M | $2.0B |
| 毛利率 | 27.4% | — |
| 营业利润率 | 11.7% | 0.1% |
| 净利率 | 7.9% | 30.4% |
| 营收同比 | -0.3% | 9.4% |
| 净利润同比 | 240.4% | — |
| 每股收益（稀释后） | — | $2.00 |
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FMSMCD
| Q1 26 | — | $6.5B | ||
| Q4 25 | $5.5B | $7.0B | ||
| Q3 25 | — | $7.1B | ||
| Q2 25 | — | $6.8B | ||
| Q1 25 | — | $6.0B | ||
| Q4 24 | $5.5B | $6.4B | ||
| Q3 24 | — | $6.9B | ||
| Q2 24 | — | $6.5B |
净利润FMSMCD
| Q1 26 | — | $2.0B | ||
| Q4 25 | $434.2M | $2.2B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | $127.6M | $2.0B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.0B |
毛利率FMSMCD
| Q1 26 | — | — | ||
| Q4 25 | 27.4% | — | ||
| Q3 25 | — | 90.6% | ||
| Q2 25 | — | 90.4% | ||
| Q1 25 | — | 89.6% | ||
| Q4 24 | 25.0% | — | ||
| Q3 24 | — | 90.6% | ||
| Q2 24 | — | 90.3% |
营业利润率FMSMCD
| Q1 26 | — | 0.1% | ||
| Q4 25 | 11.7% | 45.0% | ||
| Q3 25 | — | 47.4% | ||
| Q2 25 | — | 47.2% | ||
| Q1 25 | — | 44.5% | ||
| Q4 24 | 5.1% | 44.9% | ||
| Q3 24 | — | 46.4% | ||
| Q2 24 | — | 45.0% |
净利率FMSMCD
| Q1 26 | — | 30.4% | ||
| Q4 25 | 7.9% | 30.9% | ||
| Q3 25 | — | 32.2% | ||
| Q2 25 | — | 32.9% | ||
| Q1 25 | — | 31.4% | ||
| Q4 24 | 2.3% | 31.6% | ||
| Q3 24 | — | 32.8% | ||
| Q2 24 | — | 31.2% |
每股收益（稀释后）FMSMCD
| Q1 26 | — | $2.00 | ||
| Q4 25 | — | $3.03 | ||
| Q3 25 | — | $3.18 | ||
| Q2 25 | — | $3.14 | ||
| Q1 25 | — | $2.60 | ||
| Q4 24 | — | $2.80 | ||
| Q3 24 | — | $3.13 | ||
| Q2 24 | — | $2.80 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $15.4B | — |
| 总资产 | $33.5B | — |
| 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FMSMCD
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $774.0M | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $792.0M |
总债务FMSMCD
| Q1 26 | — | — | ||
| Q4 25 | — | $40.0B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $38.4B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FMSMCD
| Q1 26 | — | — | ||
| Q4 25 | $15.4B | $-1.8B | ||
| Q3 25 | — | $-2.2B | ||
| Q2 25 | — | $-2.8B | ||
| Q1 25 | — | $-3.5B | ||
| Q4 24 | $17.0B | $-3.8B | ||
| Q3 24 | — | $-5.2B | ||
| Q2 24 | — | $-4.8B |
总资产FMSMCD
| Q1 26 | — | — | ||
| Q4 25 | $33.5B | $59.5B | ||
| Q3 25 | — | $60.6B | ||
| Q2 25 | — | $59.6B | ||
| Q1 25 | — | $56.3B | ||
| Q4 24 | $36.3B | $55.2B | ||
| Q3 24 | — | $56.2B | ||
| Q2 24 | — | $53.8B |
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 | — |
| 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 | 6.67× | — |
| 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FMSMCD
| Q1 26 | — | — | ||
| Q4 25 | $2.9B | $2.7B | ||
| Q3 25 | — | $3.4B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | $2.6B | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $1.7B |
自由现金流FMSMCD
| Q1 26 | — | — | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $1.1B |
自由现金流率FMSMCD
| Q1 26 | — | — | ||
| Q4 25 | — | 23.4% | ||
| Q3 25 | — | 34.1% | ||
| Q2 25 | — | 18.3% | ||
| Q1 25 | — | 31.5% | ||
| Q4 24 | — | 28.6% | ||
| Q3 24 | — | 28.3% | ||
| Q2 24 | — | 16.3% |
资本支出强度FMSMCD
| Q1 26 | — | — | ||
| Q4 25 | — | 15.1% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 10.9% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | — | 11.6% | ||
| Q2 24 | — | 9.7% |
现金转化率FMSMCD
| Q1 26 | — | — | ||
| Q4 25 | 6.67× | 1.25× | ||
| Q3 25 | — | 1.50× | ||
| Q2 25 | — | 0.89× | ||
| Q1 25 | — | 1.30× | ||
| Q4 24 | 20.20× | 1.30× | ||
| Q3 24 | — | 1.21× | ||
| Q2 24 | — | 0.84× |
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
MCD
| Other | $2.5B | 38% |
| International Operated Markets | $1.8B | 27% |
| U.S | $1.8B | 27% |
| International Developmental Licensed Markets & Corporate | $476.0M | 7% |
