vs
GLOBUS MEDICAL INC（GMED）与赫曼米勒（MLKN）财务数据对比。点击上方公司名可切换其他公司
赫曼米勒的季度营收约是GLOBUS MEDICAL INC的1.2倍（$955.2M vs $826.4M），GLOBUS MEDICAL INC净利率更高（17.0% vs 2.5%，领先14.5%），GLOBUS MEDICAL INC同比增速更快（25.7% vs -1.6%），GLOBUS MEDICAL INC自由现金流更多（$202.4M vs $34.0M）
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。
米勒诺尔公司以赫曼米勒之名开展业务，是美国知名办公家具、设备及家居产品制造商。其推出的埃隆椅、野口勇茶几、棉花糖沙发、米拉椅、伊姆斯休闲椅等产品享誉全球，此外该公司还在1968年研发出了现代办公隔间。
GMED vs MLKN — 直观对比
营收规模更大
MLKN
是对方的1.2倍
$826.4M
营收增速更快
GMED
高出27.3%
-1.6%
净利率更高
GMED
高出14.5%
2.5%
自由现金流更多
GMED
多$168.4M
$34.0M
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $826.4M | $955.2M |
| 净利润 | $140.6M | $24.2M |
| 毛利率 | 68.4% | 39.0% |
| 营业利润率 | 20.5% | 5.1% |
| 净利率 | 17.0% | 2.5% |
| 营收同比 | 25.7% | -1.6% |
| 净利润同比 | 430.4% | -29.0% |
| 每股收益（稀释后） | $1.01 | $0.35 |
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GMEDMLKN
| Q4 25 | $826.4M | $955.2M | ||
| Q3 25 | $769.0M | $955.7M | ||
| Q2 25 | $745.3M | — | ||
| Q1 25 | $598.1M | — | ||
| Q4 24 | $657.3M | — | ||
| Q3 24 | $625.7M | — | ||
| Q2 24 | $629.7M | — | ||
| Q1 24 | $606.7M | — |
净利润GMEDMLKN
| Q4 25 | $140.6M | $24.2M | ||
| Q3 25 | $119.0M | $20.2M | ||
| Q2 25 | $202.8M | — | ||
| Q1 25 | $75.5M | — | ||
| Q4 24 | $26.5M | — | ||
| Q3 24 | $51.8M | — | ||
| Q2 24 | $31.8M | — | ||
| Q1 24 | $-7.1M | — |
毛利率GMEDMLKN
| Q4 25 | 68.4% | 39.0% | ||
| Q3 25 | 67.2% | 38.5% | ||
| Q2 25 | 66.6% | — | ||
| Q1 25 | 67.3% | — | ||
| Q4 24 | 59.9% | — | ||
| Q3 24 | 56.8% | — | ||
| Q2 24 | 58.7% | — | ||
| Q1 24 | 60.2% | — |
营业利润率GMEDMLKN
| Q4 25 | 20.5% | 5.1% | ||
| Q3 25 | 17.9% | 5.6% | ||
| Q2 25 | 10.2% | — | ||
| Q1 25 | 16.2% | — | ||
| Q4 24 | 9.2% | — | ||
| Q3 24 | 7.7% | — | ||
| Q2 24 | 7.9% | — | ||
| Q1 24 | 1.3% | — |
净利率GMEDMLKN
| Q4 25 | 17.0% | 2.5% | ||
| Q3 25 | 15.5% | 2.1% | ||
| Q2 25 | 27.2% | — | ||
| Q1 25 | 12.6% | — | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 8.3% | — | ||
| Q2 24 | 5.0% | — | ||
| Q1 24 | -1.2% | — |
每股收益（稀释后）GMEDMLKN
| Q4 25 | $1.01 | $0.35 | ||
| Q3 25 | $0.88 | $0.29 | ||
| Q2 25 | $1.49 | — | ||
| Q1 25 | $0.54 | — | ||
| Q4 24 | $0.19 | — | ||
| Q3 24 | $0.38 | — | ||
| Q2 24 | $0.23 | — | ||
| Q1 24 | $-0.05 | — |
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 | $180.4M |
| 总债务越低越好 | — | $1.3B |
| 股东权益账面价值 | $4.6B | $1.3B |
| 总资产 | $5.3B | $3.9B |
| 负债/权益比越低杠杆越低 | — | 1.02× |
8季度趋势，按日历期对齐
现金及短期投资GMEDMLKN
| Q4 25 | $557.2M | $180.4M | ||
| Q3 25 | $18.8M | $167.2M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $890.1M | — | ||
| Q3 24 | $71.9M | — | ||
| Q2 24 | $82.5M | — | ||
| Q1 24 | $80.4M | — |
总债务GMEDMLKN
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益GMEDMLKN
| Q4 25 | $4.6B | $1.3B | ||
| Q3 25 | $4.4B | $1.3B | ||
| Q2 25 | $4.3B | — | ||
| Q1 25 | $4.1B | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.0B | — | ||
| Q1 24 | $3.9B | — |
总资产GMEDMLKN
| Q4 25 | $5.3B | $3.9B | ||
| Q3 25 | $5.1B | $3.9B | ||
| Q2 25 | $5.0B | — | ||
| Q1 25 | $4.7B | — | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.0B | — | ||
| Q1 24 | $4.9B | — |
负债/权益比GMEDMLKN
| Q4 25 | — | 1.02× | ||
| Q3 25 | — | 1.02× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $64.6M |
| 自由现金流经营现金流 - 资本支出 | $202.4M | $34.0M |
| 自由现金流率自由现金流/营收 | 24.5% | 3.6% |
| 资本支出强度资本支出/营收 | 5.6% | 3.2% |
| 现金转化率经营现金流/净利润 | 1.77× | 2.67× |
| 过去12个月自由现金流最近4个季度 | $588.8M | — |
8季度趋势，按日历期对齐
经营现金流GMEDMLKN
| Q4 25 | $248.6M | $64.6M | ||
| Q3 25 | $249.7M | $9.4M | ||
| Q2 25 | $77.9M | — | ||
| Q1 25 | $177.3M | — | ||
| Q4 24 | $210.3M | — | ||
| Q3 24 | $203.7M | — | ||
| Q2 24 | $54.3M | — | ||
| Q1 24 | $52.4M | — |
自由现金流GMEDMLKN
| Q4 25 | $202.4M | $34.0M | ||
| Q3 25 | $213.9M | $-21.3M | ||
| Q2 25 | $31.3M | — | ||
| Q1 25 | $141.2M | — | ||
| Q4 24 | $193.2M | — | ||
| Q3 24 | $161.7M | — | ||
| Q2 24 | $26.5M | — | ||
| Q1 24 | $23.8M | — |
自由现金流率GMEDMLKN
| Q4 25 | 24.5% | 3.6% | ||
| Q3 25 | 27.8% | -2.2% | ||
| Q2 25 | 4.2% | — | ||
| Q1 25 | 23.6% | — | ||
| Q4 24 | 29.4% | — | ||
| Q3 24 | 25.8% | — | ||
| Q2 24 | 4.2% | — | ||
| Q1 24 | 3.9% | — |
资本支出强度GMEDMLKN
| Q4 25 | 5.6% | 3.2% | ||
| Q3 25 | 4.7% | 3.2% | ||
| Q2 25 | 6.2% | — | ||
| Q1 25 | 6.0% | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 6.7% | — | ||
| Q2 24 | 4.4% | — | ||
| Q1 24 | 4.7% | — |
现金转化率GMEDMLKN
| Q4 25 | 1.77× | 2.67× | ||
| Q3 25 | 2.10× | 0.47× | ||
| Q2 25 | 0.38× | — | ||
| 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% |
MLKN
| Workplace | $309.9M | 32% |
| Global Retail Segment | $275.8M | 29% |
| International Contract Segment | $170.9M | 18% |
| Performance Seating | $101.1M | 11% |
| Lifestyle | $52.9M | 6% |
| Other Products | $44.6M | 5% |
