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费森尤斯医疗（FMS）与派克汉尼汾（PH）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派克汉尼汾的1.1倍（$5.5B vs $5.2B），派克汉尼汾同比增速更快（9.1% 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。
派克汉尼汾（常简称为派克）是一家专注于运动与控制技术的美国企业，前身为派克电器公司，总部坐落于俄亥俄州大克利夫兰都市区的梅菲尔德高地，其技术及产品广泛应用于工业制造、航空航天等多个核心领域。
FMS vs PH — 直观对比
营收规模更大
FMS
是对方的1.1倍
$5.2B
营收增速更快
PH
高出9.4%
-0.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $5.2B |
| 净利润 | $434.2M | — |
| 毛利率 | 27.4% | 37.3% |
| 营业利润率 | 11.7% | 22.8% |
| 净利率 | 7.9% | — |
| 营收同比 | -0.3% | 9.1% |
| 净利润同比 | 240.4% | — |
| 每股收益（稀释后） | — | $6.60 |
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FMSPH
| Q4 25 | $5.5B | $5.2B | ||
| Q3 25 | — | $5.1B | ||
| Q2 25 | — | $5.2B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | $5.5B | $4.7B | ||
| Q3 24 | — | $4.9B | ||
| Q2 24 | — | $5.2B | ||
| Q1 24 | — | $5.1B |
净利润FMSPH
| Q4 25 | $434.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $923.6M | ||
| Q1 25 | — | $961.2M | ||
| Q4 24 | $127.6M | $948.6M | ||
| Q3 24 | — | $698.5M | ||
| Q2 24 | — | $785.1M | ||
| Q1 24 | — | $726.7M |
毛利率FMSPH
| Q4 25 | 27.4% | 37.3% | ||
| Q3 25 | — | 37.5% | ||
| Q2 25 | — | 37.3% | ||
| Q1 25 | — | 36.9% | ||
| Q4 24 | 25.0% | 36.3% | ||
| Q3 24 | — | 36.8% | ||
| Q2 24 | — | 35.9% | ||
| Q1 24 | — | 35.4% |
营业利润率FMSPH
| Q4 25 | 11.7% | 22.8% | ||
| Q3 25 | — | 23.3% | ||
| Q2 25 | — | 22.7% | ||
| Q1 25 | — | 22.3% | ||
| Q4 24 | 5.1% | 20.9% | ||
| Q3 24 | — | 21.6% | ||
| Q2 24 | — | 21.1% | ||
| Q1 24 | — | 20.4% |
净利率FMSPH
| Q4 25 | 7.9% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 17.6% | ||
| Q1 25 | — | 19.4% | ||
| Q4 24 | 2.3% | 20.0% | ||
| Q3 24 | — | 14.2% | ||
| Q2 24 | — | 15.1% | ||
| Q1 24 | — | 14.3% |
每股收益（稀释后）FMSPH
| Q4 25 | — | $6.60 | ||
| Q3 25 | — | $6.29 | ||
| Q2 25 | — | $7.16 | ||
| Q1 25 | — | $7.37 | ||
| Q4 24 | — | $7.25 | ||
| Q3 24 | — | $5.34 | ||
| Q2 24 | — | $6.06 | ||
| Q1 24 | — | $5.56 |
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 | $427.0M |
| 总债务越低越好 | — | $7.5B |
| 股东权益账面价值 | $15.4B | $14.3B |
| 总资产 | $33.5B | $30.5B |
| 负债/权益比越低杠杆越低 | — | 0.52× |
8季度趋势，按日历期对齐
现金及短期投资FMSPH
| Q4 25 | $1.7B | $427.0M | ||
| Q3 25 | — | $473.0M | ||
| Q2 25 | — | $467.0M | ||
| Q1 25 | — | $408.7M | ||
| Q4 24 | $1.3B | $395.5M | ||
| Q3 24 | — | $371.1M | ||
| Q2 24 | — | $422.0M | ||
| Q1 24 | — | $415.5M |
总债务FMSPH
| Q4 25 | — | $7.5B | ||
| Q3 25 | — | $7.5B | ||
| Q2 25 | — | $7.5B | ||
| Q1 25 | — | $7.4B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | — | $6.7B | ||
| Q2 24 | — | $7.2B | ||
| Q1 24 | — | $7.3B |
股东权益FMSPH
| Q4 25 | $15.4B | $14.3B | ||
| Q3 25 | — | $13.8B | ||
| Q2 25 | — | $13.7B | ||
| Q1 25 | — | $13.4B | ||
| Q4 24 | $17.0B | $13.1B | ||
| Q3 24 | — | $12.9B | ||
| Q2 24 | — | $12.1B | ||
| Q1 24 | — | $11.6B |
总资产FMSPH
| Q4 25 | $33.5B | $30.5B | ||
| Q3 25 | — | $30.7B | ||
| Q2 25 | — | $29.5B | ||
| Q1 25 | — | $28.9B | ||
| Q4 24 | $36.3B | $28.3B | ||
| Q3 24 | — | $29.6B | ||
| Q2 24 | — | $29.3B | ||
| Q1 24 | — | $29.6B |
负债/权益比FMSPH
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.54× | ||
| Q2 25 | — | 0.55× | ||
| Q1 25 | — | 0.55× | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.59× | ||
| Q1 24 | — | 0.63× |
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 | $862.0M |
| 自由现金流经营现金流 - 资本支出 | — | $768.0M |
| 自由现金流率自由现金流/营收 | — | 14.8% |
| 资本支出强度资本支出/营收 | — | 1.8% |
| 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 | — | $3.3B |
8季度趋势，按日历期对齐
经营现金流FMSPH
| Q4 25 | $2.9B | $862.0M | ||
| Q3 25 | — | $782.0M | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $630.0M | ||
| Q4 24 | $2.6B | $934.8M | ||
| Q3 24 | — | $744.0M | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $795.1M |
自由现金流FMSPH
| Q4 25 | — | $768.0M | ||
| Q3 25 | — | $693.0M | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $542.4M | ||
| Q4 24 | — | $813.6M | ||
| Q3 24 | — | $648.7M | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $715.9M |
自由现金流率FMSPH
| Q4 25 | — | 14.8% | ||
| Q3 25 | — | 13.6% | ||
| Q2 25 | — | 25.5% | ||
| Q1 25 | — | 10.9% | ||
| Q4 24 | — | 17.2% | ||
| Q3 24 | — | 13.2% | ||
| Q2 24 | — | 21.6% | ||
| Q1 24 | — | 14.1% |
资本支出强度FMSPH
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | 1.6% |
现金转化率FMSPH
| Q4 25 | 6.67× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.59× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | 20.20× | 0.99× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.58× | ||
| Q1 24 | — | 1.09× |
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
PH
| Filtration And Engineered Materials | $1.5B | 28% |
| Other | $1.1B | 22% |
| Motion Systems | $893.0M | 17% |
| Commercial Aftermarket | $619.0M | 12% |
| Commercial Original Equipment Manufacturer | $561.0M | 11% |
| Defense Original Equipment Manufacturer | $305.0M | 6% |
| Defense Aftermarket | $221.0M | 4% |
