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通用电气医疗（GEHC）与国际纸业（IP）财务数据对比。点击上方公司名可切换其他公司
通用电气医疗的季度营收约是国际纸业的1.2倍（$5.7B vs $4.7B），通用电气医疗净利率更高（10.3% vs -50.3%，领先60.6%），通用电气医疗同比增速更快（7.1% vs 3.6%），过去两年通用电气医疗的营收复合增速更高（10.7% vs 1.3%）
通用电气医疗是总部位于美国伊利诺伊州芝加哥的医疗科技企业，旗下设四大业务板块：医学影像（含分子成像、CT、核磁共振、女性健康筛查、X射线系统）、超声、患者护理解决方案（聚焦远程患者监测、麻醉呼吸护理、心脏病诊断、婴幼儿照护）及制药诊断业务。
国际纸业是总部位于美国田纳西州孟菲斯的纸浆及造纸企业，为全球规模最大的同类型企业，目前拥有约3.9万名员工，产品覆盖纸浆、包装用纸、办公用纸等品类，业务遍及全球多个国家和地区，广泛服务各行业客户的相关需求。
GEHC vs IP — 直观对比
营收规模更大
GEHC
是对方的1.2倍
$4.7B
营收增速更快
GEHC
高出3.5%
3.6%
净利率更高
GEHC
高出60.6%
-50.3%
两年增速更快
GEHC
近两年复合增速
1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $4.7B |
| 净利润 | $588.0M | $-2.4B |
| 毛利率 | 39.7% | 32.2% |
| 营业利润率 | 14.5% | -56.4% |
| 净利率 | 10.3% | -50.3% |
| 营收同比 | 7.1% | 3.6% |
| 净利润同比 | -18.4% | -1521.8% |
| 每股收益（稀释后） | $1.28 | $-4.76 |
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GEHCIP
| Q4 25 | $5.7B | $4.7B | ||
| Q3 25 | $5.1B | $6.2B | ||
| Q2 25 | $5.0B | $6.8B | ||
| Q1 25 | $4.8B | $5.9B | ||
| Q4 24 | $5.3B | $4.6B | ||
| Q3 24 | $4.9B | $4.7B | ||
| Q2 24 | $4.8B | $4.7B | ||
| Q1 24 | $4.7B | $4.6B |
净利润GEHCIP
| Q4 25 | $588.0M | $-2.4B | ||
| Q3 25 | $446.0M | $-1.1B | ||
| Q2 25 | $486.0M | $75.0M | ||
| Q1 25 | $564.0M | $-105.0M | ||
| Q4 24 | $721.0M | $-147.0M | ||
| Q3 24 | $470.0M | $150.0M | ||
| Q2 24 | $428.0M | $498.0M | ||
| Q1 24 | $374.0M | $56.0M |
毛利率GEHCIP
| Q4 25 | 39.7% | 32.2% | ||
| Q3 25 | 38.7% | 31.1% | ||
| Q2 25 | 39.6% | 27.9% | ||
| Q1 25 | 42.1% | 27.8% | ||
| Q4 24 | 42.8% | 29.0% | ||
| Q3 24 | 41.7% | 28.7% | ||
| Q2 24 | 41.4% | 29.0% | ||
| Q1 24 | 40.9% | 25.9% |
营业利润率GEHCIP
| Q4 25 | 14.5% | -56.4% | ||
| Q3 25 | 12.7% | -10.8% | ||
| Q2 25 | 13.1% | 1.7% | ||
| Q1 25 | 13.2% | -2.3% | ||
| Q4 24 | 15.1% | -4.9% | ||
| Q3 24 | 13.9% | 5.1% | ||
| Q2 24 | 12.6% | 6.8% | ||
| Q1 24 | 11.6% | 3.7% |
净利率GEHCIP
| Q4 25 | 10.3% | -50.3% | ||
| Q3 25 | 8.7% | -17.7% | ||
| Q2 25 | 9.7% | 1.1% | ||
| Q1 25 | 11.8% | -1.8% | ||
| Q4 24 | 13.6% | -3.2% | ||
| Q3 24 | 9.7% | 3.2% | ||
| Q2 24 | 8.8% | 10.5% | ||
| Q1 24 | 8.0% | 1.2% |
每股收益（稀释后）GEHCIP
| Q4 25 | $1.28 | $-4.76 | ||
| Q3 25 | $0.98 | $-2.09 | ||
| Q2 25 | $1.06 | $0.14 | ||
| Q1 25 | $1.23 | $-0.24 | ||
| Q4 24 | $1.58 | $-0.42 | ||
| Q3 24 | $1.02 | $0.42 | ||
| Q2 24 | $0.93 | $1.41 | ||
| Q1 24 | $0.81 | $0.16 |
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 | $4.5B | $1.1B |
| 总债务越低越好 | $10.0B | $8.8B |
| 股东权益账面价值 | $10.4B | $14.8B |
| 总资产 | $36.9B | $38.0B |
| 负债/权益比越低杠杆越低 | 0.96× | 0.60× |
8季度趋势，按日历期对齐
现金及短期投资GEHCIP
| Q4 25 | $4.5B | $1.1B | ||
| Q3 25 | $4.0B | $995.0M | ||
| Q2 25 | $3.7B | $1.1B | ||
| Q1 25 | $2.5B | $1.2B | ||
| Q4 24 | $2.9B | $1.2B | ||
| Q3 24 | $3.5B | $1.2B | ||
| Q2 24 | $2.0B | $1.0B | ||
| Q1 24 | $2.6B | $1.1B |
总债务GEHCIP
| Q4 25 | $10.0B | $8.8B | ||
| Q3 25 | $10.3B | $9.0B | ||
| Q2 25 | $10.3B | $9.7B | ||
| Q1 25 | $8.8B | $9.2B | ||
| Q4 24 | $9.0B | $5.4B | ||
| Q3 24 | $10.3B | $5.3B | ||
| Q2 24 | $9.2B | $5.3B | ||
| Q1 24 | $9.3B | $5.5B |
股东权益GEHCIP
| Q4 25 | $10.4B | $14.8B | ||
| Q3 25 | $10.0B | $17.3B | ||
| Q2 25 | $9.7B | $18.6B | ||
| Q1 25 | $9.2B | $18.1B | ||
| Q4 24 | $8.4B | $8.2B | ||
| Q3 24 | $8.3B | $8.6B | ||
| Q2 24 | $7.8B | $8.6B | ||
| Q1 24 | $7.4B | $8.3B |
总资产GEHCIP
| Q4 25 | $36.9B | $38.0B | ||
| Q3 25 | $36.1B | $40.6B | ||
| Q2 25 | $35.5B | $42.4B | ||
| Q1 25 | $33.6B | $41.2B | ||
| Q4 24 | $33.1B | $22.8B | ||
| Q3 24 | $33.9B | $23.2B | ||
| Q2 24 | $31.9B | $23.1B | ||
| Q1 24 | $32.2B | $23.0B |
负债/权益比GEHCIP
| Q4 25 | 0.96× | 0.60× | ||
| Q3 25 | 1.03× | 0.52× | ||
| Q2 25 | 1.06× | 0.52× | ||
| Q1 25 | 0.95× | 0.51× | ||
| Q4 24 | 1.06× | 0.66× | ||
| Q3 24 | 1.24× | 0.62× | ||
| Q2 24 | 1.18× | 0.62× | ||
| Q1 24 | 1.25× | 0.66× |
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 | — | $905.0M |
| 自由现金流经营现金流 - 资本支出 | — | $255.0M |
| 自由现金流率自由现金流/营收 | — | 5.4% |
| 资本支出强度资本支出/营收 | 2.4% | 13.7% |
| 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 | — | $-159.0M |
8季度趋势，按日历期对齐
经营现金流GEHCIP
| Q4 25 | — | $905.0M | ||
| Q3 25 | — | $605.0M | ||
| Q2 25 | $94.0M | $476.0M | ||
| Q1 25 | $250.0M | $-288.0M | ||
| Q4 24 | — | $397.0M | ||
| Q3 24 | — | $521.0M | ||
| Q2 24 | $-119.0M | $365.0M | ||
| Q1 24 | $419.0M | $395.0M |
自由现金流GEHCIP
| Q4 25 | — | $255.0M | ||
| Q3 25 | — | $150.0M | ||
| Q2 25 | $8.0M | $54.0M | ||
| Q1 25 | $98.0M | $-618.0M | ||
| Q4 24 | — | $137.0M | ||
| Q3 24 | — | $309.0M | ||
| Q2 24 | $-183.0M | $167.0M | ||
| Q1 24 | $274.0M | $144.0M |
自由现金流率GEHCIP
| Q4 25 | — | 5.4% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | 0.2% | 0.8% | ||
| Q1 25 | 2.1% | -10.5% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 6.6% | ||
| Q2 24 | -3.8% | 3.5% | ||
| Q1 24 | 5.9% | 3.1% |
资本支出强度GEHCIP
| Q4 25 | 2.4% | 13.7% | ||
| Q3 25 | 2.1% | 7.3% | ||
| Q2 25 | 1.7% | 6.2% | ||
| Q1 25 | 3.2% | 5.6% | ||
| Q4 24 | 1.9% | 5.7% | ||
| Q3 24 | 1.9% | 4.5% | ||
| Q2 24 | 1.3% | 4.2% | ||
| Q1 24 | 3.1% | 5.4% |
现金转化率GEHCIP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.19× | 6.35× | ||
| Q1 25 | 0.44× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.47× | ||
| Q2 24 | -0.28× | 0.73× | ||
| Q1 24 | 1.12× | 7.05× |
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
GEHC
| Imaging Segment | $2.6B | 45% |
| PCS Segment | $824.0M | 14% |
| P Dx Segment | $790.0M | 14% |
| Specialized Ultrasound Subsegment | $735.0M | 13% |
| Monitoring Solutions Subsegment | $578.0M | 10% |
| Life Support Solutions Subsegment | $247.0M | 4% |
IP
| Other | $2.4B | 52% |
| DS Smith Packaging | $2.3B | 48% |
