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通用电气医疗（GEHC）与美客多（MELI）财务数据对比。点击上方公司名可切换其他公司
美客多的季度营收约是通用电气医疗的1.1倍（$6.1B vs $5.7B），通用电气医疗净利率更高（10.3% vs 9.1%，领先1.2%），美客多同比增速更快（40.2% vs 7.1%），过去两年美客多的营收复合增速更高（40.7% vs 10.7%）
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。
美客多（Mercado Libre）是起源于阿根廷、在美国特拉华州注册的互联网企业，核心业务涵盖电商平台运营及在线拍卖服务，是拉丁美洲头部电商平台。截至2016年，其在拉美地区拥有1.742亿用户，是当地访问量最高的电商站点。
GEHC vs MELI — 直观对比
营收规模更大
MELI
是对方的1.1倍
$5.7B
营收增速更快
MELI
高出33.1%
7.1%
净利率更高
GEHC
高出1.2%
9.1%
两年增速更快
MELI
近两年复合增速
10.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $6.1B |
| 净利润 | $588.0M | $559.0M |
| 毛利率 | 39.7% | 61.7% |
| 营业利润率 | 14.5% | 14.5% |
| 净利率 | 10.3% | 9.1% |
| 营收同比 | 7.1% | 40.2% |
| 净利润同比 | -18.4% | -12.5% |
| 每股收益（稀释后） | $1.28 | $11.03 |
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GEHCMELI
| Q4 25 | $5.7B | $6.1B | ||
| Q3 25 | $5.1B | $5.2B | ||
| Q2 25 | $5.0B | $4.8B | ||
| Q1 25 | $4.8B | $4.2B | ||
| Q4 24 | $5.3B | $4.4B | ||
| Q3 24 | $4.9B | $3.9B | ||
| Q2 24 | $4.8B | $3.8B | ||
| Q1 24 | $4.7B | $3.1B |
净利润GEHCMELI
| Q4 25 | $588.0M | $559.0M | ||
| Q3 25 | $446.0M | $421.0M | ||
| Q2 25 | $486.0M | $523.0M | ||
| Q1 25 | $564.0M | $494.0M | ||
| Q4 24 | $721.0M | $639.0M | ||
| Q3 24 | $470.0M | $397.0M | ||
| Q2 24 | $428.0M | $531.0M | ||
| Q1 24 | $374.0M | $344.0M |
毛利率GEHCMELI
| Q4 25 | 39.7% | 61.7% | ||
| Q3 25 | 38.7% | 61.7% | ||
| Q2 25 | 39.6% | 64.4% | ||
| Q1 25 | 42.1% | 66.1% | ||
| Q4 24 | 42.8% | 62.8% | ||
| Q3 24 | 41.7% | 62.6% | ||
| Q2 24 | 41.4% | 62.8% | ||
| Q1 24 | 40.9% | 65.3% |
营业利润率GEHCMELI
| Q4 25 | 14.5% | 14.5% | ||
| Q3 25 | 12.7% | 13.9% | ||
| Q2 25 | 13.1% | 17.2% | ||
| Q1 25 | 13.2% | 18.2% | ||
| Q4 24 | 15.1% | 18.7% | ||
| Q3 24 | 13.9% | 14.3% | ||
| Q2 24 | 12.6% | 19.3% | ||
| Q1 24 | 11.6% | 17.0% |
净利率GEHCMELI
| Q4 25 | 10.3% | 9.1% | ||
| Q3 25 | 8.7% | 8.1% | ||
| Q2 25 | 9.7% | 10.9% | ||
| Q1 25 | 11.8% | 11.8% | ||
| Q4 24 | 13.6% | 14.6% | ||
| Q3 24 | 9.7% | 10.2% | ||
| Q2 24 | 8.8% | 14.1% | ||
| Q1 24 | 8.0% | 11.1% |
每股收益（稀释后）GEHCMELI
| Q4 25 | $1.28 | $11.03 | ||
| Q3 25 | $0.98 | $8.32 | ||
| Q2 25 | $1.06 | $10.31 | ||
| Q1 25 | $1.23 | $9.74 | ||
| Q4 24 | $1.58 | $12.60 | ||
| Q3 24 | $1.02 | $7.83 | ||
| Q2 24 | $0.93 | $10.48 | ||
| Q1 24 | $0.81 | $6.78 |
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 | $6.3B |
| 总债务越低越好 | $10.0B | $4.6B |
| 股东权益账面价值 | $10.4B | $6.7B |
| 总资产 | $36.9B | $42.7B |
| 负债/权益比越低杠杆越低 | 0.96× | 0.68× |
8季度趋势，按日历期对齐
现金及短期投资GEHCMELI
| Q4 25 | $4.5B | $6.3B | ||
| Q3 25 | $4.0B | $6.3B | ||
| Q2 25 | $3.7B | $7.6B | ||
| Q1 25 | $2.5B | $8.1B | ||
| Q4 24 | $2.9B | $7.1B | ||
| Q3 24 | $3.5B | $6.7B | ||
| Q2 24 | $2.0B | $6.9B | ||
| Q1 24 | $2.6B | $6.3B |
总债务GEHCMELI
| Q4 25 | $10.0B | $4.6B | ||
| Q3 25 | $10.3B | $3.4B | ||
| Q2 25 | $10.3B | $3.5B | ||
| Q1 25 | $8.8B | $2.9B | ||
| Q4 24 | $9.0B | $2.9B | ||
| Q3 24 | $10.3B | $3.1B | ||
| Q2 24 | $9.2B | $2.4B | ||
| Q1 24 | $9.3B | $2.2B |
股东权益GEHCMELI
| Q4 25 | $10.4B | $6.7B | ||
| Q3 25 | $10.0B | $6.2B | ||
| Q2 25 | $9.7B | $5.7B | ||
| Q1 25 | $9.2B | $5.0B | ||
| Q4 24 | $8.4B | $4.4B | ||
| Q3 24 | $8.3B | $4.0B | ||
| Q2 24 | $7.8B | $3.7B | ||
| Q1 24 | $7.4B | $3.4B |
总资产GEHCMELI
| Q4 25 | $36.9B | $42.7B | ||
| Q3 25 | $36.1B | $36.7B | ||
| Q2 25 | $35.5B | $32.9B | ||
| Q1 25 | $33.6B | $27.7B | ||
| Q4 24 | $33.1B | $25.2B | ||
| Q3 24 | $33.9B | $22.6B | ||
| Q2 24 | $31.9B | $20.0B | ||
| Q1 24 | $32.2B | $19.1B |
负债/权益比GEHCMELI
| Q4 25 | 0.96× | 0.68× | ||
| Q3 25 | 1.03× | 0.55× | ||
| Q2 25 | 1.06× | 0.61× | ||
| Q1 25 | 0.95× | 0.57× | ||
| Q4 24 | 1.06× | 0.66× | ||
| Q3 24 | 1.24× | 0.78× | ||
| Q2 24 | 1.18× | 0.67× | ||
| 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 | — | $5.2B |
| 自由现金流经营现金流 - 资本支出 | — | $4.8B |
| 自由现金流率自由现金流/营收 | — | 77.9% |
| 资本支出强度资本支出/营收 | 2.4% | 7.0% |
| 现金转化率经营现金流/净利润 | — | 9.32× |
| 过去12个月自由现金流最近4个季度 | — | $10.8B |
8季度趋势，按日历期对齐
经营现金流GEHCMELI
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | $94.0M | $2.9B | ||
| Q1 25 | $250.0M | $1.0B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | $-119.0M | $1.9B | ||
| Q1 24 | $419.0M | $1.5B |
自由现金流GEHCMELI
| Q4 25 | — | $4.8B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | $8.0M | $2.6B | ||
| Q1 25 | $98.0M | $759.0M | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | $-183.0M | $1.7B | ||
| Q1 24 | $274.0M | $1.4B |
自由现金流率GEHCMELI
| Q4 25 | — | 77.9% | ||
| Q3 25 | — | 50.0% | ||
| Q2 25 | 0.2% | 54.8% | ||
| Q1 25 | 2.1% | 18.1% | ||
| Q4 24 | — | 59.8% | ||
| Q3 24 | — | 35.4% | ||
| Q2 24 | -3.8% | 45.1% | ||
| Q1 24 | 5.9% | 44.1% |
资本支出强度GEHCMELI
| Q4 25 | 2.4% | 7.0% | ||
| Q3 25 | 2.1% | 6.9% | ||
| Q2 25 | 1.7% | 6.0% | ||
| Q1 25 | 3.2% | 6.5% | ||
| Q4 24 | 1.9% | 7.0% | ||
| Q3 24 | 1.9% | 5.7% | ||
| Q2 24 | 1.3% | 4.9% | ||
| Q1 24 | 3.1% | 4.7% |
现金转化率GEHCMELI
| Q4 25 | — | 9.32× | ||
| Q3 25 | — | 7.03× | ||
| Q2 25 | 0.19× | 5.58× | ||
| Q1 25 | 0.44× | 2.09× | ||
| Q4 24 | — | 4.58× | ||
| Q3 24 | — | 4.03× | ||
| Q2 24 | -0.28× | 3.54× | ||
| Q1 24 | 1.12× | 4.40× |
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% |
MELI
| Commerce | $2.8B | 45% |
| Argentina Segment | $1.6B | 26% |
| Products | $1.2B | 20% |
| Other Countries Segment | $414.0M | 7% |
