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GLOBUS MEDICAL INC（GMED）与ICU MEDICAL INC（ICUI）财务数据对比。点击上方公司名可切换其他公司
GLOBUS MEDICAL INC的季度营收约是ICU MEDICAL INC的1.5倍（$826.4M vs $540.7M）。GLOBUS MEDICAL INC净利率更高（17.0% vs -2.9%，领先19.9%）。GLOBUS MEDICAL INC同比增速更快（25.7% vs -14.1%）。GLOBUS MEDICAL INC自由现金流更多（$202.4M vs $36.0M）。过去两年GLOBUS MEDICAL INC的营收复合增速更高（16.7% vs -2.3%）
Globus Medical是总部位于美国宾夕法尼亚州奥杜邦的上市骨科医疗器械企业，专注于相关产品的设计、研发与商业化，助力外科医生为肌肉骨骼系统疾病患者提供治疗方案，促进患者康复。
ICU医疗是总部位于美国加利福尼亚州圣克莱门特的医疗科技企业，专注于研发预防血流感染、保护医护人员免受传染病或危险药物侵害的医疗产品，产品线覆盖静脉治疗用品、输液泵、无针血管通路设备、定制输液套装、危险药物密闭处理系统、传感导管以及无针封闭式血液采样系统等。
GMED vs ICUI — 直观对比
营收规模更大
GMED
是对方的1.5倍
$540.7M
营收增速更快
GMED
高出39.9%
-14.1%
净利率更高
GMED
高出19.9%
-2.9%
自由现金流更多
GMED
多$166.4M
$36.0M
两年增速更快
GMED
近两年复合增速
-2.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $826.4M | $540.7M |
| 净利润 | $140.6M | $-15.7M |
| 毛利率 | 68.4% | 37.5% |
| 营业利润率 | 20.5% | 1.0% |
| 净利率 | 17.0% | -2.9% |
| 营收同比 | 25.7% | -14.1% |
| 净利润同比 | 430.4% | 34.0% |
| 每股收益（稀释后） | $1.01 | $-0.63 |
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GMEDICUI
| Q4 25 | $826.4M | $540.7M | ||
| Q3 25 | $769.0M | $537.0M | ||
| Q2 25 | $745.3M | $548.9M | ||
| Q1 25 | $598.1M | $604.7M | ||
| Q4 24 | $657.3M | $629.8M | ||
| Q3 24 | $625.7M | $589.1M | ||
| Q2 24 | $629.7M | $596.5M | ||
| Q1 24 | $606.7M | $566.7M |
净利润GMEDICUI
| Q4 25 | $140.6M | $-15.7M | ||
| Q3 25 | $119.0M | $-3.4M | ||
| Q2 25 | $202.8M | $35.3M | ||
| Q1 25 | $75.5M | $-15.5M | ||
| Q4 24 | $26.5M | $-23.8M | ||
| Q3 24 | $51.8M | $-33.0M | ||
| Q2 24 | $31.8M | $-21.4M | ||
| Q1 24 | $-7.1M | $-39.5M |
毛利率GMEDICUI
| Q4 25 | 68.4% | 37.5% | ||
| Q3 25 | 67.2% | 37.4% | ||
| Q2 25 | 66.6% | 37.9% | ||
| Q1 25 | 67.3% | 34.7% | ||
| Q4 24 | 59.9% | 36.1% | ||
| Q3 24 | 56.8% | 34.8% | ||
| Q2 24 | 58.7% | 34.8% | ||
| Q1 24 | 60.2% | 32.7% |
营业利润率GMEDICUI
| Q4 25 | 20.5% | 1.0% | ||
| Q3 25 | 17.9% | 2.6% | ||
| Q2 25 | 10.2% | 1.9% | ||
| Q1 25 | 16.2% | 2.1% | ||
| Q4 24 | 9.2% | 6.0% | ||
| Q3 24 | 7.7% | 1.4% | ||
| Q2 24 | 7.9% | 1.3% | ||
| Q1 24 | 1.3% | -1.9% |
净利率GMEDICUI
| Q4 25 | 17.0% | -2.9% | ||
| Q3 25 | 15.5% | -0.6% | ||
| Q2 25 | 27.2% | 6.4% | ||
| Q1 25 | 12.6% | -2.6% | ||
| Q4 24 | 4.0% | -3.8% | ||
| Q3 24 | 8.3% | -5.6% | ||
| Q2 24 | 5.0% | -3.6% | ||
| Q1 24 | -1.2% | -7.0% |
每股收益（稀释后）GMEDICUI
| Q4 25 | $1.01 | $-0.63 | ||
| Q3 25 | $0.88 | $-0.14 | ||
| Q2 25 | $1.49 | $1.43 | ||
| Q1 25 | $0.54 | $-0.63 | ||
| Q4 24 | $0.19 | $-0.97 | ||
| Q3 24 | $0.38 | $-1.35 | ||
| Q2 24 | $0.23 | $-0.88 | ||
| Q1 24 | $-0.05 | $-1.63 |
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 | $557.2M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.6B | $2.1B |
| 总资产 | $5.3B | $4.1B |
| 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GMEDICUI
| Q4 25 | $557.2M | — | ||
| Q3 25 | $18.8M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $890.1M | $308.6M | ||
| Q3 24 | $71.9M | $312.5M | ||
| Q2 24 | $82.5M | $302.6M | ||
| Q1 24 | $80.4M | $251.4M |
股东权益GMEDICUI
| Q4 25 | $4.6B | $2.1B | ||
| Q3 25 | $4.4B | $2.1B | ||
| Q2 25 | $4.3B | $2.1B | ||
| Q1 25 | $4.1B | $2.0B | ||
| Q4 24 | $4.2B | $2.0B | ||
| Q3 24 | $4.1B | $2.0B | ||
| Q2 24 | $4.0B | $2.0B | ||
| Q1 24 | $3.9B | $2.1B |
总资产GMEDICUI
| Q4 25 | $5.3B | $4.1B | ||
| Q3 25 | $5.1B | $4.1B | ||
| Q2 25 | $5.0B | $4.1B | ||
| Q1 25 | $4.7B | $4.2B | ||
| Q4 24 | $5.3B | $4.2B | ||
| Q3 24 | $5.1B | $4.3B | ||
| Q2 24 | $5.0B | $4.3B | ||
| Q1 24 | $4.9B | $4.3B |
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 | $248.6M | $60.6M |
| 自由现金流经营现金流 - 资本支出 | $202.4M | $36.0M |
| 自由现金流率自由现金流/营收 | 24.5% | 6.6% |
| 资本支出强度资本支出/营收 | 5.6% | 4.6% |
| 现金转化率经营现金流/净利润 | 1.77× | — |
| 过去12个月自由现金流最近4个季度 | $588.8M | $91.8M |
8季度趋势，按日历期对齐
经营现金流GMEDICUI
| Q4 25 | $248.6M | $60.6M | ||
| Q3 25 | $249.7M | $56.7M | ||
| Q2 25 | $77.9M | $11.2M | ||
| Q1 25 | $177.3M | $51.3M | ||
| Q4 24 | $210.3M | $40.2M | ||
| Q3 24 | $203.7M | $36.1M | ||
| Q2 24 | $54.3M | $82.0M | ||
| Q1 24 | $52.4M | $45.8M |
自由现金流GMEDICUI
| Q4 25 | $202.4M | $36.0M | ||
| Q3 25 | $213.9M | $27.6M | ||
| Q2 25 | $31.3M | $-8.5M | ||
| Q1 25 | $141.2M | $36.7M | ||
| Q4 24 | $193.2M | $16.1M | ||
| Q3 24 | $161.7M | $16.2M | ||
| Q2 24 | $26.5M | $62.5M | ||
| Q1 24 | $23.8M | $29.9M |
自由现金流率GMEDICUI
| Q4 25 | 24.5% | 6.6% | ||
| Q3 25 | 27.8% | 5.1% | ||
| Q2 25 | 4.2% | -1.5% | ||
| Q1 25 | 23.6% | 6.1% | ||
| Q4 24 | 29.4% | 2.6% | ||
| Q3 24 | 25.8% | 2.7% | ||
| Q2 24 | 4.2% | 10.5% | ||
| Q1 24 | 3.9% | 5.3% |
资本支出强度GMEDICUI
| Q4 25 | 5.6% | 4.6% | ||
| Q3 25 | 4.7% | 5.4% | ||
| Q2 25 | 6.2% | 3.6% | ||
| Q1 25 | 6.0% | 2.4% | ||
| Q4 24 | 2.6% | 3.8% | ||
| Q3 24 | 6.7% | 3.4% | ||
| Q2 24 | 4.4% | 3.3% | ||
| Q1 24 | 4.7% | 2.8% |
现金转化率GMEDICUI
| Q4 25 | 1.77× | — | ||
| Q3 25 | 2.10× | — | ||
| Q2 25 | 0.38× | 0.32× | ||
| Q1 25 | 2.35× | — | ||
| Q4 24 | 7.94× | — | ||
| Q3 24 | 3.93× | — | ||
| Q2 24 | 1.71× | — | ||
| Q1 24 | — | — |
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
GMED
| Other | $391.8M | 47% |
| Nevro Merger Agreement | $293.6M | 36% |
| Enabling Technologies | $141.0M | 17% |
ICUI
| Infusion Consumables | $284.7M | 53% |
| Infusion Systems | $176.3M | 33% |
| Vital Care | $79.7M | 15% |
