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费森尤斯医疗（FMS）与VIEMED HEALTHCARE, INC.（VMD）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VIEMED HEALTHCARE, INC.的71.9倍（$5.5B vs $76.2M）。费森尤斯医疗净利率更高（7.9% vs 7.4%，领先0.5%）。VIEMED HEALTHCARE, INC.同比增速更快（25.5% 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。
Viemed Healthcare是一家专注于呼吸护理解决方案的医疗科技企业，研发、生产及销售便携式呼吸机、呼吸治疗设备及配套支持服务，覆盖北美、欧洲及亚太核心市场的急症、亚急症及居家护理场景，服务急慢性呼吸系统疾病患者。
FMS vs VMD — 直观对比
营收规模更大
FMS
是对方的71.9倍
$76.2M
营收增速更快
VMD
高出25.8%
-0.3%
净利率更高
FMS
高出0.5%
7.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $76.2M |
| 净利润 | $434.2M | $5.6M |
| 毛利率 | 27.4% | 57.9% |
| 营业利润率 | 11.7% | 11.0% |
| 净利率 | 7.9% | 7.4% |
| 营收同比 | -0.3% | 25.5% |
| 净利润同比 | 240.4% | 30.7% |
| 每股收益（稀释后） | — | $0.14 |
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FMSVMD
| Q4 25 | $5.5B | $76.2M | ||
| Q3 25 | — | $71.9M | ||
| Q2 25 | — | $63.1M | ||
| Q1 25 | — | $59.1M | ||
| Q4 24 | $5.5B | $60.7M | ||
| Q3 24 | — | $58.0M | ||
| Q2 24 | — | $55.0M | ||
| Q1 24 | — | $50.6M |
净利润FMSVMD
| Q4 25 | $434.2M | $5.6M | ||
| Q3 25 | — | $3.5M | ||
| Q2 25 | — | $3.2M | ||
| Q1 25 | — | $2.6M | ||
| Q4 24 | $127.6M | $4.3M | ||
| Q3 24 | — | $3.9M | ||
| Q2 24 | — | $1.5M | ||
| Q1 24 | — | $1.6M |
毛利率FMSVMD
| Q4 25 | 27.4% | 57.9% | ||
| Q3 25 | — | 57.5% | ||
| Q2 25 | — | 58.3% | ||
| Q1 25 | — | 56.3% | ||
| Q4 24 | 25.0% | 59.5% | ||
| Q3 24 | — | 59.3% | ||
| Q2 24 | — | 59.8% | ||
| Q1 24 | — | 58.9% |
营业利润率FMSVMD
| Q4 25 | 11.7% | 11.0% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | — | 8.1% | ||
| Q1 25 | — | 6.5% | ||
| Q4 24 | 5.1% | 10.6% | ||
| Q3 24 | — | 9.7% | ||
| Q2 24 | — | 6.6% | ||
| Q1 24 | — | 4.4% |
净利率FMSVMD
| Q4 25 | 7.9% | 7.4% | ||
| Q3 25 | — | 4.9% | ||
| Q2 25 | — | 5.0% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | 2.3% | 7.1% | ||
| Q3 24 | — | 6.7% | ||
| Q2 24 | — | 2.7% | ||
| Q1 24 | — | 3.2% |
每股收益（稀释后）FMSVMD
| Q4 25 | — | $0.14 | ||
| Q3 25 | — | $0.09 | ||
| Q2 25 | — | $0.08 | ||
| Q1 25 | — | $0.06 | ||
| Q4 24 | — | $0.10 | ||
| Q3 24 | — | $0.10 | ||
| Q2 24 | — | $0.04 | ||
| Q1 24 | — | $0.04 |
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 | $13.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $15.4B | $141.5M |
| 总资产 | $33.5B | $199.2M |
| 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FMSVMD
| Q4 25 | $1.7B | $13.5M | ||
| Q3 25 | — | $11.1M | ||
| Q2 25 | — | $20.0M | ||
| Q1 25 | — | $10.2M | ||
| Q4 24 | $1.3B | $17.5M | ||
| Q3 24 | — | $11.3M | ||
| Q2 24 | — | $8.8M | ||
| Q1 24 | — | $7.3M |
股东权益FMSVMD
| Q4 25 | $15.4B | $141.5M | ||
| Q3 25 | — | $133.6M | ||
| Q2 25 | — | $139.7M | ||
| Q1 25 | — | $134.8M | ||
| Q4 24 | $17.0B | $131.4M | ||
| Q3 24 | — | $125.0M | ||
| Q2 24 | — | $119.4M | ||
| Q1 24 | — | $116.3M |
总资产FMSVMD
| Q4 25 | $33.5B | $199.2M | ||
| Q3 25 | — | $202.4M | ||
| Q2 25 | — | $184.6M | ||
| Q1 25 | — | $178.1M | ||
| Q4 24 | $36.3B | $177.1M | ||
| Q3 24 | — | $169.5M | ||
| Q2 24 | — | $163.9M | ||
| Q1 24 | — | $154.9M |
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 | $18.4M |
| 自由现金流经营现金流 - 资本支出 | — | $9.7M |
| 自由现金流率自由现金流/营收 | — | 12.7% |
| 资本支出强度资本支出/营收 | — | 11.5% |
| 现金转化率经营现金流/净利润 | 6.67× | 3.27× |
| 过去12个月自由现金流最近4个季度 | — | $11.9M |
8季度趋势，按日历期对齐
经营现金流FMSVMD
| Q4 25 | $2.9B | $18.4M | ||
| Q3 25 | — | $18.4M | ||
| Q2 25 | — | $12.3M | ||
| Q1 25 | — | $2.9M | ||
| Q4 24 | $2.6B | $15.0M | ||
| Q3 24 | — | $12.7M | ||
| Q2 24 | — | $10.2M | ||
| Q1 24 | — | $1.2M |
自由现金流FMSVMD
| Q4 25 | — | $9.7M | ||
| Q3 25 | — | $10.7M | ||
| Q2 25 | — | $4.1M | ||
| Q1 25 | — | $-12.6M | ||
| Q4 24 | — | $3.2M | ||
| Q3 24 | — | $1.7M | ||
| Q2 24 | — | $1.2M | ||
| Q1 24 | — | $-4.8M |
自由现金流率FMSVMD
| Q4 25 | — | 12.7% | ||
| Q3 25 | — | 14.9% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | — | -21.4% | ||
| Q4 24 | — | 5.2% | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | -9.5% |
资本支出强度FMSVMD
| Q4 25 | — | 11.5% | ||
| Q3 25 | — | 10.6% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 26.2% | ||
| Q4 24 | — | 19.5% | ||
| Q3 24 | — | 19.0% | ||
| Q2 24 | — | 16.3% | ||
| Q1 24 | — | 11.9% |
现金转化率FMSVMD
| Q4 25 | 6.67× | 3.27× | ||
| Q3 25 | — | 5.23× | ||
| Q2 25 | — | 3.88× | ||
| Q1 25 | — | 1.09× | ||
| Q4 24 | 20.20× | 3.47× | ||
| Q3 24 | — | 3.29× | ||
| Q2 24 | — | 6.94× | ||
| Q1 24 | — | 0.73× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
