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费森尤斯医疗（FMS）与帕卡（PCAR）财务数据对比。点击上方公司名可切换其他公司
帕卡的季度营收约是费森尤斯医疗的1.2倍（$6.8B vs $5.5B），帕卡净利率更高（8.2% vs 7.9%，领先0.2%），费森尤斯医疗同比增速更快（-0.3% vs -13.7%）
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。
帕卡是美国知名重型卡车制造企业，总部位于华盛顿州贝尔维尤，旗下拥有肯沃斯、彼得比尔特、DAF卡车三大核心子品牌，同时布局金融服务、工业零部件供应业务，在全球商用车领域占据重要市场地位。
FMS vs PCAR — 直观对比
营收规模更大
PCAR
是对方的1.2倍
$5.5B
营收增速更快
FMS
高出13.4%
-13.7%
净利率更高
PCAR
高出0.2%
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $6.8B |
| 净利润 | $434.2M | $556.9M |
| 毛利率 | 27.4% | 19.3% |
| 营业利润率 | 11.7% | 10.3% |
| 净利率 | 7.9% | 8.2% |
| 营收同比 | -0.3% | -13.7% |
| 净利润同比 | 240.4% | -36.1% |
| 每股收益（稀释后） | — | $1.06 |
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FMSPCAR
| Q4 25 | $5.5B | $6.8B | ||
| Q3 25 | — | $6.7B | ||
| Q2 25 | — | $7.5B | ||
| Q1 25 | — | $7.4B | ||
| Q4 24 | $5.5B | $7.9B | ||
| Q3 24 | — | $8.2B | ||
| Q2 24 | — | $8.8B | ||
| Q1 24 | — | $8.7B |
净利润FMSPCAR
| Q4 25 | $434.2M | $556.9M | ||
| Q3 25 | — | $590.0M | ||
| Q2 25 | — | $723.8M | ||
| Q1 25 | — | $505.1M | ||
| Q4 24 | $127.6M | $872.0M | ||
| Q3 24 | — | $972.1M | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.2B |
毛利率FMSPCAR
| Q4 25 | 27.4% | 19.3% | ||
| Q3 25 | — | 19.9% | ||
| Q2 25 | — | 20.2% | ||
| Q1 25 | — | 20.8% | ||
| Q4 24 | 25.0% | 21.6% | ||
| Q3 24 | — | 22.0% | ||
| Q2 24 | — | 22.8% | ||
| Q1 24 | — | 23.7% |
营业利润率FMSPCAR
| Q4 25 | 11.7% | 10.3% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 12.4% | ||
| Q1 25 | — | 8.6% | ||
| Q4 24 | 5.1% | 14.5% | ||
| Q3 24 | — | 15.2% | ||
| Q2 24 | — | 16.7% | ||
| Q1 24 | — | 17.5% |
净利率FMSPCAR
| Q4 25 | 7.9% | 8.2% | ||
| Q3 25 | — | 8.8% | ||
| Q2 25 | — | 9.6% | ||
| Q1 25 | — | 6.8% | ||
| Q4 24 | 2.3% | 11.0% | ||
| Q3 24 | — | 11.8% | ||
| Q2 24 | — | 12.8% | ||
| Q1 24 | — | 13.7% |
每股收益（稀释后）FMSPCAR
| Q4 25 | — | $1.06 | ||
| Q3 25 | — | $1.12 | ||
| Q2 25 | — | $1.37 | ||
| Q1 25 | — | $0.96 | ||
| Q4 24 | — | $1.65 | ||
| Q3 24 | — | $1.85 | ||
| Q2 24 | — | $2.13 | ||
| Q1 24 | — | $2.27 |
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 | $19.3B |
| 总资产 | $33.5B | $44.3B |
| 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FMSPCAR
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益FMSPCAR
| Q4 25 | $15.4B | $19.3B | ||
| Q3 25 | — | $19.4B | ||
| Q2 25 | — | $18.9B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | $17.0B | $17.5B | ||
| Q3 24 | — | $18.7B | ||
| Q2 24 | — | $17.7B | ||
| Q1 24 | — | $16.9B |
总资产FMSPCAR
| Q4 25 | $33.5B | $44.3B | ||
| Q3 25 | — | $44.2B | ||
| Q2 25 | — | $44.1B | ||
| Q1 25 | — | $42.7B | ||
| Q4 24 | $36.3B | $43.4B | ||
| Q3 24 | — | $43.3B | ||
| Q2 24 | — | $41.2B | ||
| Q1 24 | — | $40.4B |
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 | $1.1B |
| 自由现金流经营现金流 - 资本支出 | — | $954.4M |
| 自由现金流率自由现金流/营收 | — | 14.0% |
| 资本支出强度资本支出/营收 | — | 2.8% |
| 现金转化率经营现金流/净利润 | 6.67× | 2.05× |
| 过去12个月自由现金流最近4个季度 | — | $3.7B |
8季度趋势，按日历期对齐
经营现金流FMSPCAR
| Q4 25 | $2.9B | $1.1B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $833.4M | ||
| Q1 25 | — | $910.3M | ||
| Q4 24 | $2.6B | $1.4B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $440.0M | ||
| Q1 24 | — | $1.5B |
自由现金流FMSPCAR
| Q4 25 | — | $954.4M | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $611.3M | ||
| Q1 25 | — | $745.2M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $219.7M | ||
| Q1 24 | — | $1.3B |
自由现金流率FMSPCAR
| Q4 25 | — | 14.0% | ||
| Q3 25 | — | 20.4% | ||
| Q2 25 | — | 8.1% | ||
| Q1 25 | — | 10.0% | ||
| Q4 24 | — | 15.3% | ||
| Q3 24 | — | 13.3% | ||
| Q2 24 | — | 2.5% | ||
| Q1 24 | — | 14.6% |
资本支出强度FMSPCAR
| Q4 25 | — | 2.8% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 2.5% | ||
| Q1 24 | — | 2.2% |
现金转化率FMSPCAR
| Q4 25 | 6.67× | 2.05× | ||
| Q3 25 | — | 2.59× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | 20.20× | 1.66× | ||
| Q3 24 | — | 1.32× | ||
| Q2 24 | — | 0.39× | ||
| Q1 24 | — | 1.23× |
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
PCAR
| Truck Subsegment | $4.5B | 66% |
| Parts Subsegment | $1.7B | 25% |
| Other | $359.4M | 5% |
| Financial Services | $208.1M | 3% |
