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FIRST MERCHANTS CORP（FRME）与Orthofix Medical Inc.（OFIX）财务数据对比。点击上方公司名可切换其他公司
Orthofix Medical Inc.的季度营收约是FIRST MERCHANTS CORP的1.4倍（$219.9M vs $157.1M），FIRST MERCHANTS CORP净利率更高（17.9% vs -1.0%，领先18.9%），过去两年Orthofix Medical Inc.的营收复合增速更高（8.0% vs -0.9%）
第一商人集团是总部位于美国印第安纳州曼西的金融控股公司，业务覆盖印第安纳州中部地区，旗下拥有第一商人银行、第一商人私人财富顾问两大板块，在纳斯达克上市，股票代码为FRME。截至2023年3月，集团总资产达182亿美元，为客户提供商业银行、个人银行及投资顾问服务。
Orthofix医疗是全球知名骨科医疗器械企业，专注于研发、生产及销售脊柱植入物、骨科创伤产品、骨生长刺激治疗设备及再生医疗产品，服务全球多地的骨科医师与医疗机构，致力于提升肌肉骨骼疾病患者的诊疗效果。
FRME vs OFIX — 直观对比
营收规模更大
OFIX
是对方的1.4倍
$157.1M
净利率更高
FRME
高出18.9%
-1.0%
两年增速更快
OFIX
近两年复合增速
-0.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $157.1M | $219.9M |
| 净利润 | $28.2M | $-2.2M |
| 毛利率 | — | 71.1% |
| 营业利润率 | — | 0.2% |
| 净利率 | 17.9% | -1.0% |
| 营收同比 | — | 2.0% |
| 净利润同比 | -49.1% | 92.4% |
| 每股收益（稀释后） | $0.45 | $-0.05 |
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FRMEOFIX
| Q1 26 | $157.1M | — | ||
| Q4 25 | $172.2M | $219.9M | ||
| Q3 25 | $166.1M | $205.6M | ||
| Q2 25 | $164.3M | $203.1M | ||
| Q1 25 | $160.3M | $193.6M | ||
| Q4 24 | $177.1M | $215.7M | ||
| Q3 24 | $156.0M | $196.6M | ||
| Q2 24 | $159.9M | $198.6M |
净利润FRMEOFIX
| Q1 26 | $28.2M | — | ||
| Q4 25 | $57.1M | $-2.2M | ||
| Q3 25 | $56.8M | $-22.8M | ||
| Q2 25 | $56.8M | $-14.1M | ||
| Q1 25 | $55.3M | $-53.1M | ||
| Q4 24 | $64.3M | $-29.1M | ||
| Q3 24 | $49.2M | $-27.4M | ||
| Q2 24 | $39.9M | $-33.4M |
毛利率FRMEOFIX
| Q1 26 | — | — | ||
| Q4 25 | — | 71.1% | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | — | 68.7% | ||
| Q1 25 | — | 62.8% | ||
| Q4 24 | — | 69.0% | ||
| Q3 24 | — | 68.7% | ||
| Q2 24 | — | 67.8% |
营业利润率FRMEOFIX
| Q1 26 | — | — | ||
| Q4 25 | 38.0% | 0.2% | ||
| Q3 25 | 39.3% | -8.3% | ||
| Q2 25 | 39.6% | -7.9% | ||
| Q1 25 | 39.4% | -25.2% | ||
| Q4 24 | 43.3% | -5.3% | ||
| Q3 24 | 36.1% | -9.6% | ||
| Q2 24 | 27.5% | -12.5% |
净利率FRMEOFIX
| Q1 26 | 17.9% | — | ||
| Q4 25 | 33.1% | -1.0% | ||
| Q3 25 | 34.2% | -11.1% | ||
| Q2 25 | 34.6% | -6.9% | ||
| Q1 25 | 34.5% | -27.4% | ||
| Q4 24 | 36.3% | -13.5% | ||
| Q3 24 | 31.5% | -13.9% | ||
| Q2 24 | 25.0% | -16.8% |
每股收益（稀释后）FRMEOFIX
| Q1 26 | $0.45 | — | ||
| Q4 25 | $0.98 | $-0.05 | ||
| Q3 25 | $0.98 | $-0.57 | ||
| Q2 25 | $0.98 | $-0.36 | ||
| Q1 25 | $0.94 | $-1.35 | ||
| Q4 24 | $1.09 | $-0.76 | ||
| Q3 24 | $0.84 | $-0.71 | ||
| Q2 24 | $0.68 | $-0.88 |
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 | — | $82.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.7B | $450.0M |
| 总资产 | $21.1B | $850.6M |
| 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FRMEOFIX
| Q1 26 | — | — | ||
| Q4 25 | — | $82.0M | ||
| Q3 25 | — | $62.9M | ||
| Q2 25 | — | $65.6M | ||
| Q1 25 | — | $58.0M | ||
| Q4 24 | — | $83.2M | ||
| Q3 24 | — | $30.1M | ||
| Q2 24 | — | $26.4M |
总债务FRMEOFIX
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $157.2M | ||
| Q2 25 | — | $157.0M | ||
| Q1 25 | — | $156.9M | ||
| Q4 24 | — | $157.0M | ||
| Q3 24 | — | $118.5M | ||
| Q2 24 | — | $118.0M |
股东权益FRMEOFIX
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.5B | $450.0M | ||
| Q3 25 | $2.4B | $442.5M | ||
| Q2 25 | $2.3B | $458.3M | ||
| Q1 25 | $2.3B | $458.3M | ||
| Q4 24 | $2.3B | $503.1M | ||
| Q3 24 | $2.3B | $525.9M | ||
| Q2 24 | $2.2B | $546.0M |
总资产FRMEOFIX
| Q1 26 | $21.1B | — | ||
| Q4 25 | $19.0B | $850.6M | ||
| Q3 25 | $18.8B | $832.6M | ||
| Q2 25 | $18.6B | $837.2M | ||
| Q1 25 | $18.4B | $823.1M | ||
| Q4 24 | $18.3B | $893.3M | ||
| Q3 24 | $18.3B | $867.9M | ||
| Q2 24 | $18.3B | $882.0M |
负债/权益比FRMEOFIX
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | — | 0.31× | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | — | 0.22× |
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 | — | $27.7M |
| 自由现金流经营现金流 - 资本支出 | — | $16.8M |
| 自由现金流率自由现金流/营收 | — | 7.6% |
| 资本支出强度资本支出/营收 | — | 4.9% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $-1.3M |
8季度趋势，按日历期对齐
经营现金流FRMEOFIX
| Q1 26 | — | — | ||
| Q4 25 | $283.6M | $27.7M | ||
| Q3 25 | $87.6M | $12.4M | ||
| Q2 25 | $53.7M | $11.6M | ||
| Q1 25 | $61.7M | $-18.4M | ||
| Q4 24 | $266.2M | $23.7M | ||
| Q3 24 | $76.8M | $11.7M | ||
| Q2 24 | $63.0M | $9.0M |
自由现金流FRMEOFIX
| Q1 26 | — | — | ||
| Q4 25 | — | $16.8M | ||
| Q3 25 | — | $2.5M | ||
| Q2 25 | — | $4.5M | ||
| Q1 25 | — | $-25.1M | ||
| Q4 24 | — | $15.2M | ||
| Q3 24 | — | $6.3M | ||
| Q2 24 | — | $-360.0K |
自由现金流率FRMEOFIX
| Q1 26 | — | — | ||
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | -13.0% | ||
| Q4 24 | — | 7.0% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | -0.2% |
资本支出强度FRMEOFIX
| Q1 26 | — | — | ||
| Q4 25 | — | 4.9% | ||
| Q3 25 | — | 4.8% | ||
| Q2 25 | — | 3.5% | ||
| Q1 25 | — | 3.5% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 4.7% |
现金转化率FRMEOFIX
| Q1 26 | — | — | ||
| Q4 25 | 4.97× | — | ||
| Q3 25 | 1.54× | — | ||
| Q2 25 | 0.94× | — | ||
| Q1 25 | 1.11× | — | ||
| Q4 24 | 4.14× | — | ||
| Q3 24 | 1.56× | — | ||
| Q2 24 | 1.58× | — |
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
FRME
| Net Interest Income | $151.3M | 96% |
| Noninterest Income | $5.8M | 4% |
OFIX
| Spinal Implants Biologics And Enabling Technologies | $113.6M | 52% |
| Bone Growth Therapies | $68.3M | 31% |
| Other | $22.7M | 10% |
| IT | $5.9M | 3% |
| GB | $3.5M | 2% |
| FR | $3.5M | 2% |
| DE | $2.3M | 1% |
