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通用电气医疗（GEHC）与贝宝（PYPL）财务数据对比。点击上方公司名可切换其他公司
贝宝的季度营收约是通用电气医疗的1.5倍（$8.7B vs $5.7B），贝宝净利率更高（16.6% vs 10.3%，领先6.2%），通用电气医疗同比增速更快（7.1% vs 3.7%），过去两年通用电气医疗的营收复合增速更高（10.7% vs 6.2%）
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。
贝宝控股（PayPal Holdings, Inc.）是美国跨国金融科技企业，在全球多数支持线上转账的国家运营在线支付系统，可作为支票、汇票等传统纸质支付方式的电子替代选项，同时为线上商户、拍卖网站及各类商业用户提供支付处理服务。
GEHC vs PYPL — 直观对比
营收规模更大
PYPL
是对方的1.5倍
$5.7B
营收增速更快
GEHC
高出3.4%
3.7%
净利率更高
PYPL
高出6.2%
10.3%
两年增速更快
GEHC
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $8.7B |
| 净利润 | $588.0M | $1.4B |
| 毛利率 | 39.7% | — |
| 营业利润率 | 14.5% | 17.4% |
| 净利率 | 10.3% | 16.6% |
| 营收同比 | 7.1% | 3.7% |
| 净利润同比 | -18.4% | 28.2% |
| 每股收益（稀释后） | $1.28 | $1.53 |
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GEHCPYPL
| Q4 25 | $5.7B | $8.7B | ||
| Q3 25 | $5.1B | $8.4B | ||
| Q2 25 | $5.0B | $8.3B | ||
| Q1 25 | $4.8B | $7.8B | ||
| Q4 24 | $5.3B | $8.4B | ||
| Q3 24 | $4.9B | $7.8B | ||
| Q2 24 | $4.8B | $7.9B | ||
| Q1 24 | $4.7B | $7.7B |
净利润GEHCPYPL
| Q4 25 | $588.0M | $1.4B | ||
| Q3 25 | $446.0M | $1.2B | ||
| Q2 25 | $486.0M | $1.3B | ||
| Q1 25 | $564.0M | $1.3B | ||
| Q4 24 | $721.0M | $1.1B | ||
| Q3 24 | $470.0M | $1.0B | ||
| Q2 24 | $428.0M | $1.1B | ||
| Q1 24 | $374.0M | $888.0M |
毛利率GEHCPYPL
| Q4 25 | 39.7% | — | ||
| Q3 25 | 38.7% | — | ||
| Q2 25 | 39.6% | — | ||
| Q1 25 | 42.1% | — | ||
| Q4 24 | 42.8% | — | ||
| Q3 24 | 41.7% | — | ||
| Q2 24 | 41.4% | — | ||
| Q1 24 | 40.9% | — |
营业利润率GEHCPYPL
| Q4 25 | 14.5% | 17.4% | ||
| Q3 25 | 12.7% | 18.1% | ||
| Q2 25 | 13.1% | 18.1% | ||
| Q1 25 | 13.2% | 19.6% | ||
| Q4 24 | 15.1% | 17.2% | ||
| Q3 24 | 13.9% | 17.7% | ||
| Q2 24 | 12.6% | 16.8% | ||
| Q1 24 | 11.6% | 15.2% |
净利率GEHCPYPL
| Q4 25 | 10.3% | 16.6% | ||
| Q3 25 | 8.7% | 14.8% | ||
| Q2 25 | 9.7% | 15.2% | ||
| Q1 25 | 11.8% | 16.5% | ||
| Q4 24 | 13.6% | 13.4% | ||
| Q3 24 | 9.7% | 12.9% | ||
| Q2 24 | 8.8% | 14.3% | ||
| Q1 24 | 8.0% | 11.5% |
每股收益（稀释后）GEHCPYPL
| Q4 25 | $1.28 | $1.53 | ||
| Q3 25 | $0.98 | $1.30 | ||
| Q2 25 | $1.06 | $1.29 | ||
| Q1 25 | $1.23 | $1.29 | ||
| Q4 24 | $1.58 | $1.09 | ||
| Q3 24 | $1.02 | $0.99 | ||
| Q2 24 | $0.93 | $1.08 | ||
| Q1 24 | $0.81 | $0.83 |
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 | $10.4B |
| 总债务越低越好 | $10.0B | — |
| 股东权益账面价值 | $10.4B | $20.3B |
| 总资产 | $36.9B | $80.2B |
| 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GEHCPYPL
| Q4 25 | $4.5B | $10.4B | ||
| Q3 25 | $4.0B | $10.8B | ||
| Q2 25 | $3.7B | $10.0B | ||
| Q1 25 | $2.5B | $11.2B | ||
| Q4 24 | $2.9B | $10.8B | ||
| Q3 24 | $3.5B | $11.9B | ||
| Q2 24 | $2.0B | $13.6B | ||
| Q1 24 | $2.6B | $14.3B |
总债务GEHCPYPL
| 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GEHCPYPL
| Q4 25 | $10.4B | $20.3B | ||
| Q3 25 | $10.0B | $20.2B | ||
| Q2 25 | $9.7B | $20.2B | ||
| Q1 25 | $9.2B | $20.3B | ||
| Q4 24 | $8.4B | $20.4B | ||
| Q3 24 | $8.3B | $20.2B | ||
| Q2 24 | $7.8B | $20.6B | ||
| Q1 24 | $7.4B | $20.7B |
总资产GEHCPYPL
| Q4 25 | $36.9B | $80.2B | ||
| Q3 25 | $36.1B | $79.8B | ||
| Q2 25 | $35.5B | $79.8B | ||
| Q1 25 | $33.6B | $81.3B | ||
| Q4 24 | $33.1B | $81.6B | ||
| Q3 24 | $33.9B | $83.5B | ||
| Q2 24 | $31.9B | $84.0B | ||
| Q1 24 | $32.2B | $83.3B |
负债/权益比GEHCPYPL
| 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 | — | $2.4B |
| 自由现金流经营现金流 - 资本支出 | — | $2.2B |
| 自由现金流率自由现金流/营收 | — | 25.2% |
| 资本支出强度资本支出/营收 | 2.4% | 2.2% |
| 现金转化率经营现金流/净利润 | — | 1.66× |
| 过去12个月自由现金流最近4个季度 | — | $5.6B |
8季度趋势，按日历期对齐
经营现金流GEHCPYPL
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | $94.0M | $898.0M | ||
| Q1 25 | $250.0M | $1.2B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | $-119.0M | $1.5B | ||
| Q1 24 | $419.0M | $1.9B |
自由现金流GEHCPYPL
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | $8.0M | $692.0M | ||
| Q1 25 | $98.0M | $964.0M | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | $-183.0M | $1.4B | ||
| Q1 24 | $274.0M | $1.8B |
自由现金流率GEHCPYPL
| Q4 25 | — | 25.2% | ||
| Q3 25 | — | 20.4% | ||
| Q2 25 | 0.2% | 8.3% | ||
| Q1 25 | 2.1% | 12.4% | ||
| Q4 24 | — | 26.2% | ||
| Q3 24 | — | 18.4% | ||
| Q2 24 | -3.8% | 17.3% | ||
| Q1 24 | 5.9% | 22.9% |
资本支出强度GEHCPYPL
| Q4 25 | 2.4% | 2.2% | ||
| Q3 25 | 2.1% | 3.0% | ||
| Q2 25 | 1.7% | 2.5% | ||
| Q1 25 | 3.2% | 2.5% | ||
| Q4 24 | 1.9% | 2.4% | ||
| Q3 24 | 1.9% | 2.2% | ||
| Q2 24 | 1.3% | 2.0% | ||
| Q1 24 | 3.1% | 2.0% |
现金转化率GEHCPYPL
| Q4 25 | — | 1.66× | ||
| Q3 25 | — | 1.58× | ||
| Q2 25 | 0.19× | 0.71× | ||
| Q1 25 | 0.44× | 0.90× | ||
| Q4 24 | — | 2.14× | ||
| Q3 24 | — | 1.60× | ||
| Q2 24 | -0.28× | 1.35× | ||
| Q1 24 | 1.12× | 2.16× |
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% |
PYPL
| US | $4.9B | 57% |
| Non Us | $3.7B | 43% |
