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GLOBUS MEDICAL INC（GMED）与3M（MMM）财务数据对比。点击上方公司名可切换其他公司
3M的季度营收约是GLOBUS MEDICAL INC的7.3倍（$6.0B vs $826.4M）。GLOBUS MEDICAL INC净利率更高（17.0% vs 10.8%，领先6.2%）。GLOBUS MEDICAL INC同比增速更快（25.7% vs 1.3%）。3M自由现金流更多（$2.0B vs $202.4M）。过去两年GLOBUS MEDICAL INC的营收复合增速更高（16.7% vs -1.8%）
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。
3M是美国知名跨国综合企业，业务覆盖工业、劳动者安全防护、消费品等多个领域，总部位于圣保罗郊区的枫木市。公司现有超6万款产品，涵盖胶粘剂、研磨材料、防火防护产品、个人防护装备、窗膜、车漆保护膜、电子连接绝缘材料、汽车养护产品、光学膜等品类。
GMED vs MMM — 直观对比
营收规模更大
MMM
是对方的7.3倍
$826.4M
营收增速更快
GMED
高出24.4%
1.3%
净利率更高
GMED
高出6.2%
10.8%
自由现金流更多
MMM
多$1.8B
$202.4M
两年增速更快
GMED
近两年复合增速
-1.8%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $826.4M | $6.0B |
| 净利润 | $140.6M | $653.0M |
| 毛利率 | 68.4% | 40.7% |
| 营业利润率 | 20.5% | 23.2% |
| 净利率 | 17.0% | 10.8% |
| 营收同比 | 25.7% | 1.3% |
| 净利润同比 | 430.4% | -41.5% |
| 每股收益（稀释后） | $1.01 | $1.23 |
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GMEDMMM
| Q1 26 | — | $6.0B | ||
| Q4 25 | $826.4M | $6.1B | ||
| Q3 25 | $769.0M | $6.5B | ||
| Q2 25 | $745.3M | $6.3B | ||
| Q1 25 | $598.1M | $6.0B | ||
| Q4 24 | $657.3M | $6.0B | ||
| Q3 24 | $625.7M | $6.3B | ||
| Q2 24 | $629.7M | $6.3B |
净利润GMEDMMM
| Q1 26 | — | $653.0M | ||
| Q4 25 | $140.6M | $577.0M | ||
| Q3 25 | $119.0M | $834.0M | ||
| Q2 25 | $202.8M | $723.0M | ||
| Q1 25 | $75.5M | $1.1B | ||
| Q4 24 | $26.5M | $728.0M | ||
| Q3 24 | $51.8M | $1.4B | ||
| Q2 24 | $31.8M | $1.1B |
毛利率GMEDMMM
| Q1 26 | — | 40.7% | ||
| Q4 25 | 68.4% | 33.6% | ||
| Q3 25 | 67.2% | 41.8% | ||
| Q2 25 | 66.6% | 42.5% | ||
| Q1 25 | 67.3% | 41.6% | ||
| Q4 24 | 59.9% | 51.7% | ||
| Q3 24 | 56.8% | 42.1% | ||
| Q2 24 | 58.7% | 42.9% |
营业利润率GMEDMMM
| Q1 26 | — | 23.2% | ||
| Q4 25 | 20.5% | 13.0% | ||
| Q3 25 | 17.9% | 22.2% | ||
| Q2 25 | 10.2% | 18.0% | ||
| Q1 25 | 16.2% | 20.9% | ||
| Q4 24 | 9.2% | 12.2% | ||
| Q3 24 | 7.7% | 20.9% | ||
| Q2 24 | 7.9% | 20.3% |
净利率GMEDMMM
| Q1 26 | — | 10.8% | ||
| Q4 25 | 17.0% | 9.4% | ||
| Q3 25 | 15.5% | 12.8% | ||
| Q2 25 | 27.2% | 11.4% | ||
| Q1 25 | 12.6% | 18.7% | ||
| Q4 24 | 4.0% | 12.1% | ||
| Q3 24 | 8.3% | 21.8% | ||
| Q2 24 | 5.0% | 18.3% |
每股收益（稀释后）GMEDMMM
| Q1 26 | — | $1.23 | ||
| Q4 25 | $1.01 | $1.07 | ||
| Q3 25 | $0.88 | $1.55 | ||
| Q2 25 | $1.49 | $1.34 | ||
| Q1 25 | $0.54 | $2.04 | ||
| Q4 24 | $0.19 | $1.33 | ||
| Q3 24 | $0.38 | $2.48 | ||
| Q2 24 | $0.23 | $2.07 |
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 | $3.7B |
| 总债务越低越好 | — | $10.9B |
| 股东权益账面价值 | $4.6B | $3.3B |
| 总资产 | $5.3B | $35.4B |
| 负债/权益比越低杠杆越低 | — | 3.29× |
8季度趋势，按日历期对齐
现金及短期投资GMEDMMM
| Q1 26 | — | $3.7B | ||
| Q4 25 | $557.2M | — | ||
| Q3 25 | $18.8M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $890.1M | — | ||
| Q3 24 | $71.9M | — | ||
| Q2 24 | $82.5M | — |
总债务GMEDMMM
| Q1 26 | — | $10.9B | ||
| Q4 25 | — | $12.6B | ||
| Q3 25 | — | $12.6B | ||
| Q2 25 | — | $13.1B | ||
| Q1 25 | — | $13.5B | ||
| Q4 24 | — | $13.0B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | $13.1B |
股东权益GMEDMMM
| Q1 26 | — | $3.3B | ||
| Q4 25 | $4.6B | $4.7B | ||
| Q3 25 | $4.4B | $4.6B | ||
| Q2 25 | $4.3B | $4.3B | ||
| Q1 25 | $4.1B | $4.5B | ||
| Q4 24 | $4.2B | $3.8B | ||
| Q3 24 | $4.1B | $4.6B | ||
| Q2 24 | $4.0B | $3.9B |
总资产GMEDMMM
| Q1 26 | — | $35.4B | ||
| Q4 25 | $5.3B | $37.7B | ||
| Q3 25 | $5.1B | $37.6B | ||
| Q2 25 | $5.0B | $38.0B | ||
| Q1 25 | $4.7B | $40.0B | ||
| Q4 24 | $5.3B | $39.9B | ||
| Q3 24 | $5.1B | $40.9B | ||
| Q2 24 | $5.0B | $43.4B |
负债/权益比GMEDMMM
| Q1 26 | — | 3.29× | ||
| Q4 25 | — | 2.68× | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 3.06× | ||
| Q1 25 | — | 3.02× | ||
| Q4 24 | — | 3.40× | ||
| Q3 24 | — | 2.84× | ||
| Q2 24 | — | 3.34× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $202.4M | $2.0B |
| 自由现金流率自由现金流/营收 | 24.5% | 33.6% |
| 资本支出强度资本支出/营收 | 5.6% | — |
| 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 | $3.7B |
8季度趋势，按日历期对齐
经营现金流GMEDMMM
| Q1 26 | — | — | ||
| Q4 25 | $248.6M | $1.6B | ||
| Q3 25 | $249.7M | $1.8B | ||
| Q2 25 | $77.9M | $-954.0M | ||
| Q1 25 | $177.3M | $-79.0M | ||
| Q4 24 | $210.3M | $1.8B | ||
| Q3 24 | $203.7M | $-1.8B | ||
| Q2 24 | $54.3M | $1.0B |
自由现金流GMEDMMM
| Q1 26 | — | $2.0B | ||
| Q4 25 | $202.4M | $1.3B | ||
| Q3 25 | $213.9M | $1.5B | ||
| Q2 25 | $31.3M | $-1.2B | ||
| Q1 25 | $141.2M | $-315.0M | ||
| Q4 24 | $193.2M | $1.5B | ||
| Q3 24 | $161.7M | $-2.0B | ||
| Q2 24 | $26.5M | $752.0M |
自由现金流率GMEDMMM
| Q1 26 | — | 33.6% | ||
| Q4 25 | 24.5% | 21.8% | ||
| Q3 25 | 27.8% | 23.6% | ||
| Q2 25 | 4.2% | -18.3% | ||
| Q1 25 | 23.6% | -5.3% | ||
| Q4 24 | 29.4% | 25.4% | ||
| Q3 24 | 25.8% | -32.3% | ||
| Q2 24 | 4.2% | 12.0% |
资本支出强度GMEDMMM
| Q1 26 | — | — | ||
| Q4 25 | 5.6% | 4.0% | ||
| Q3 25 | 4.7% | 3.3% | ||
| Q2 25 | 6.2% | 3.3% | ||
| Q1 25 | 6.0% | 4.0% | ||
| Q4 24 | 2.6% | 4.8% | ||
| Q3 24 | 6.7% | 3.9% | ||
| Q2 24 | 4.4% | 4.3% |
现金转化率GMEDMMM
| Q1 26 | — | — | ||
| Q4 25 | 1.77× | 2.74× | ||
| Q3 25 | 2.10× | 2.11× | ||
| Q2 25 | 0.38× | -1.32× | ||
| Q1 25 | 2.35× | -0.07× | ||
| Q4 24 | 7.94× | 2.50× | ||
| Q3 24 | 3.93× | -1.30× | ||
| Q2 24 | 1.71× | 0.89× |
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% |
MMM
| Safety and Industrial business segment | $2.9B | 49% |
| Transportation and Electronics business segment | $1.8B | 31% |
| Consumer business segment | $1.1B | 19% |
| Corporate | $121.0M | 2% |
