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通用电气医疗（GEHC）与Kenvue（KVUE）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Kenvue的1.5倍（$5.7B vs $3.8B），通用电气医疗净利率更高（10.3% vs 8.7%，领先1.6%），通用电气医疗同比增速更快（7.1% vs 3.2%），过去两年通用电气医疗的营收复合增速更高（10.7% vs -1.5%）
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。
Kenvue是美国消费者健康企业，前身为强生集团消费者健康业务部门，旗下拥有邦迪、李施德林、露得清、泰诺、强生婴儿、仙特明等诸多知名消费健康品牌，总部现位于美国新泽西州萨米特。
GEHC vs KVUE — 直观对比
营收规模更大
GEHC
是对方的1.5倍
$3.8B
营收增速更快
GEHC
高出3.9%
3.2%
净利率更高
GEHC
高出1.6%
8.7%
两年增速更快
GEHC
近两年复合增速
-1.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $3.8B |
| 净利润 | $588.0M | $330.0M |
| 毛利率 | 39.7% | 56.5% |
| 营业利润率 | 14.5% | 14.2% |
| 净利率 | 10.3% | 8.7% |
| 营收同比 | 7.1% | 3.2% |
| 净利润同比 | -18.4% | 12.6% |
| 每股收益（稀释后） | $1.28 | $0.16 |
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GEHCKVUE
| Q4 25 | $5.7B | $3.8B | ||
| Q3 25 | $5.1B | $3.8B | ||
| Q2 25 | $5.0B | $3.8B | ||
| Q1 25 | $4.8B | $3.7B | ||
| Q4 24 | $5.3B | $3.7B | ||
| Q3 24 | $4.9B | $3.9B | ||
| Q2 24 | $4.8B | $4.0B | ||
| Q1 24 | $4.7B | $3.9B |
净利润GEHCKVUE
| Q4 25 | $588.0M | $330.0M | ||
| Q3 25 | $446.0M | $398.0M | ||
| Q2 25 | $486.0M | $420.0M | ||
| Q1 25 | $564.0M | $322.0M | ||
| Q4 24 | $721.0M | $293.0M | ||
| Q3 24 | $470.0M | $383.0M | ||
| Q2 24 | $428.0M | $58.0M | ||
| Q1 24 | $374.0M | $296.0M |
毛利率GEHCKVUE
| Q4 25 | 39.7% | 56.5% | ||
| Q3 25 | 38.7% | 59.1% | ||
| Q2 25 | 39.6% | 58.9% | ||
| Q1 25 | 42.1% | 58.0% | ||
| Q4 24 | 42.8% | 56.5% | ||
| Q3 24 | 41.7% | 58.5% | ||
| Q2 24 | 41.4% | 59.1% | ||
| Q1 24 | 40.9% | 57.6% |
营业利润率GEHCKVUE
| Q4 25 | 14.5% | 14.2% | ||
| Q3 25 | 12.7% | 16.7% | ||
| Q2 25 | 13.1% | 18.0% | ||
| Q1 25 | 13.2% | 14.9% | ||
| Q4 24 | 15.1% | 13.2% | ||
| Q3 24 | 13.9% | 16.8% | ||
| Q2 24 | 12.6% | 3.9% | ||
| Q1 24 | 11.6% | 14.1% |
净利率GEHCKVUE
| Q4 25 | 10.3% | 8.7% | ||
| Q3 25 | 8.7% | 10.6% | ||
| Q2 25 | 9.7% | 10.9% | ||
| Q1 25 | 11.8% | 8.6% | ||
| Q4 24 | 13.6% | 8.0% | ||
| Q3 24 | 9.7% | 9.8% | ||
| Q2 24 | 8.8% | 1.5% | ||
| Q1 24 | 8.0% | 7.6% |
每股收益（稀释后）GEHCKVUE
| Q4 25 | $1.28 | $0.16 | ||
| Q3 25 | $0.98 | $0.21 | ||
| Q2 25 | $1.06 | $0.22 | ||
| Q1 25 | $1.23 | $0.17 | ||
| Q4 24 | $1.58 | $0.16 | ||
| Q3 24 | $1.02 | $0.20 | ||
| Q2 24 | $0.93 | $0.03 | ||
| Q1 24 | $0.81 | $0.15 |
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 | — |
| 股东权益账面价值 | $10.4B | $10.8B |
| 总资产 | $36.9B | $27.1B |
| 负债/权益比越低杠杆越低 | 0.96× | — |
8季度趋势，按日历期对齐
现金及短期投资GEHCKVUE
| Q4 25 | $4.5B | $1.1B | ||
| Q3 25 | $4.0B | $1.1B | ||
| Q2 25 | $3.7B | $1.1B | ||
| Q1 25 | $2.5B | $1.1B | ||
| Q4 24 | $2.9B | $1.1B | ||
| Q3 24 | $3.5B | $1.1B | ||
| Q2 24 | $2.0B | $1.0B | ||
| Q1 24 | $2.6B | $1.2B |
总债务GEHCKVUE
| Q4 25 | $10.0B | — | ||
| Q3 25 | $10.3B | — | ||
| Q2 25 | $10.3B | — | ||
| Q1 25 | $8.8B | — | ||
| Q4 24 | $9.0B | — | ||
| Q3 24 | $10.3B | — | ||
| Q2 24 | $9.2B | — | ||
| Q1 24 | $9.3B | — |
股东权益GEHCKVUE
| Q4 25 | $10.4B | $10.8B | ||
| Q3 25 | $10.0B | $10.6B | ||
| Q2 25 | $9.7B | $10.7B | ||
| Q1 25 | $9.2B | $10.1B | ||
| Q4 24 | $8.4B | $9.7B | ||
| Q3 24 | $8.3B | $10.6B | ||
| Q2 24 | $7.8B | $10.2B | ||
| Q1 24 | $7.4B | $10.6B |
总资产GEHCKVUE
| Q4 25 | $36.9B | $27.1B | ||
| Q3 25 | $36.1B | $27.2B | ||
| Q2 25 | $35.5B | $27.1B | ||
| Q1 25 | $33.6B | $26.3B | ||
| Q4 24 | $33.1B | $25.6B | ||
| Q3 24 | $33.9B | $26.9B | ||
| Q2 24 | $31.9B | $26.4B | ||
| Q1 24 | $32.2B | $27.3B |
负债/权益比GEHCKVUE
| Q4 25 | 0.96× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.06× | — | ||
| Q1 25 | 0.95× | — | ||
| Q4 24 | 1.06× | — | ||
| Q3 24 | 1.24× | — | ||
| Q2 24 | 1.18× | — | ||
| Q1 24 | 1.25× | — |
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 | — | $854.0M |
| 自由现金流经营现金流 - 资本支出 | — | $744.0M |
| 自由现金流率自由现金流/营收 | — | 19.7% |
| 资本支出强度资本支出/营收 | 2.4% | 2.9% |
| 现金转化率经营现金流/净利润 | — | 2.59× |
| 过去12个月自由现金流最近4个季度 | — | $1.7B |
8季度趋势，按日历期对齐
经营现金流GEHCKVUE
| Q4 25 | — | $854.0M | ||
| Q3 25 | — | $294.0M | ||
| Q2 25 | $94.0M | $621.0M | ||
| Q1 25 | $250.0M | $428.0M | ||
| Q4 24 | — | $793.0M | ||
| Q3 24 | — | $249.0M | ||
| Q2 24 | $-119.0M | $440.0M | ||
| Q1 24 | $419.0M | $287.0M |
自由现金流GEHCKVUE
| Q4 25 | — | $744.0M | ||
| Q3 25 | — | $196.0M | ||
| Q2 25 | $8.0M | $533.0M | ||
| Q1 25 | $98.0M | $249.0M | ||
| Q4 24 | — | $661.0M | ||
| Q3 24 | — | $190.0M | ||
| Q2 24 | $-183.0M | $350.0M | ||
| Q1 24 | $274.0M | $134.0M |
自由现金流率GEHCKVUE
| Q4 25 | — | 19.7% | ||
| Q3 25 | — | 5.2% | ||
| Q2 25 | 0.2% | 13.9% | ||
| Q1 25 | 2.1% | 6.7% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | — | 4.9% | ||
| Q2 24 | -3.8% | 8.8% | ||
| Q1 24 | 5.9% | 3.4% |
资本支出强度GEHCKVUE
| Q4 25 | 2.4% | 2.9% | ||
| Q3 25 | 2.1% | 2.6% | ||
| Q2 25 | 1.7% | 2.3% | ||
| Q1 25 | 3.2% | 4.8% | ||
| Q4 24 | 1.9% | 3.6% | ||
| Q3 24 | 1.9% | 1.5% | ||
| Q2 24 | 1.3% | 2.3% | ||
| Q1 24 | 3.1% | 3.9% |
现金转化率GEHCKVUE
| Q4 25 | — | 2.59× | ||
| Q3 25 | — | 0.74× | ||
| Q2 25 | 0.19× | 1.48× | ||
| Q1 25 | 0.44× | 1.33× | ||
| Q4 24 | — | 2.71× | ||
| Q3 24 | — | 0.65× | ||
| Q2 24 | -0.28× | 7.59× | ||
| Q1 24 | 1.12× | 0.97× |
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% |
KVUE
| Self Care | $1.6B | 42% |
| Essential Health | $1.1B | 30% |
| Skin Health And Beauty | $1.0B | 28% |
