vs
Generac（GNRC）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
瑞思迈的季度营收约是Generac的1.3倍（$1.4B vs $1.1B），瑞思迈净利率更高（27.6% vs -2.2%，领先29.8%），瑞思迈同比增速更快（11.0% vs -11.6%），瑞思迈自由现金流更多（$311.2M vs $129.9M），过去两年Generac的营收复合增速更高（10.8% vs 9.0%）
Generac Holdings Inc.（简称Generac）是美国财富1000强企业，主营面向住宅、小型商业及工业领域的备用发电产品，功率覆盖800瓦至9兆瓦，通过独立经销商、零售商及批发商渠道发售，总部位于威斯康星州沃基肖，在该州多地设有生产基地。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
GNRC vs RMD — 直观对比
营收规模更大
RMD
是对方的1.3倍
$1.1B
营收增速更快
RMD
高出22.6%
-11.6%
净利率更高
RMD
高出29.8%
-2.2%
自由现金流更多
RMD
多$181.3M
$129.9M
两年增速更快
GNRC
近两年复合增速
9.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.4B |
| 净利润 | $-24.5M | $392.6M |
| 毛利率 | 36.3% | 61.8% |
| 营业利润率 | -0.9% | 34.6% |
| 净利率 | -2.2% | 27.6% |
| 营收同比 | -11.6% | 11.0% |
| 净利润同比 | -120.9% | 13.9% |
| 每股收益（稀释后） | $-0.41 | $2.68 |
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GNRCRMD
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $942.1M | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $998.2M | $1.2B | ||
| Q1 24 | $889.3M | $1.2B |
净利润GNRCRMD
| Q4 25 | $-24.5M | $392.6M | ||
| Q3 25 | $66.2M | $348.5M | ||
| Q2 25 | $74.0M | $379.7M | ||
| Q1 25 | $43.8M | $365.0M | ||
| Q4 24 | $117.2M | $344.6M | ||
| Q3 24 | $113.7M | $311.4M | ||
| Q2 24 | $59.1M | $292.2M | ||
| Q1 24 | $26.2M | $300.5M |
毛利率GNRCRMD
| Q4 25 | 36.3% | 61.8% | ||
| Q3 25 | 38.3% | 61.5% | ||
| Q2 25 | 39.3% | 60.8% | ||
| Q1 25 | 39.5% | 59.3% | ||
| Q4 24 | 40.6% | 58.6% | ||
| Q3 24 | 40.2% | 58.6% | ||
| Q2 24 | 37.6% | 58.5% | ||
| Q1 24 | 35.6% | 57.9% |
营业利润率GNRCRMD
| Q4 25 | -0.9% | 34.6% | ||
| Q3 25 | 9.3% | 33.4% | ||
| Q2 25 | 10.5% | 33.7% | ||
| Q1 25 | 8.9% | 33.0% | ||
| Q4 24 | 16.0% | 32.5% | ||
| Q3 24 | 14.4% | 31.6% | ||
| Q2 24 | 10.3% | 31.2% | ||
| Q1 24 | 7.5% | 31.3% |
净利率GNRCRMD
| Q4 25 | -2.2% | 27.6% | ||
| Q3 25 | 5.9% | 26.1% | ||
| Q2 25 | 7.0% | 28.2% | ||
| Q1 25 | 4.7% | 28.3% | ||
| Q4 24 | 9.5% | 26.9% | ||
| Q3 24 | 9.7% | 25.4% | ||
| Q2 24 | 5.9% | 23.9% | ||
| Q1 24 | 2.9% | 25.1% |
每股收益（稀释后）GNRCRMD
| Q4 25 | $-0.41 | $2.68 | ||
| Q3 25 | $1.12 | $2.37 | ||
| Q2 25 | $1.25 | $2.58 | ||
| Q1 25 | $0.73 | $2.48 | ||
| Q4 24 | $2.14 | $2.34 | ||
| Q3 24 | $1.89 | $2.11 | ||
| Q2 24 | $0.97 | $1.97 | ||
| Q1 24 | $0.39 | $2.04 |
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 | $341.4M | $1.4B |
| 总债务越低越好 | $1.3B | $403.9M |
| 股东权益账面价值 | $2.6B | $6.3B |
| 总资产 | $5.6B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.48× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资GNRCRMD
| Q4 25 | $341.4M | $1.4B | ||
| Q3 25 | $300.0M | $1.4B | ||
| Q2 25 | $223.5M | $1.2B | ||
| Q1 25 | $187.5M | $932.7M | ||
| Q4 24 | $281.3M | $521.9M | ||
| Q3 24 | $214.2M | $426.4M | ||
| Q2 24 | $218.3M | $238.4M | ||
| Q1 24 | $249.4M | $237.9M |
总债务GNRCRMD
| Q4 25 | $1.3B | $403.9M | ||
| Q3 25 | $1.4B | $408.7M | ||
| Q2 25 | $1.3B | $658.4M | ||
| Q1 25 | $1.2B | $663.1M | ||
| Q4 24 | $1.2B | $662.9M | ||
| Q3 24 | $1.4B | $667.6M | ||
| Q2 24 | $1.4B | $697.3M | ||
| Q1 24 | $1.4B | $997.0M |
股东权益GNRCRMD
| Q4 25 | $2.6B | $6.3B | ||
| Q3 25 | $2.6B | $6.1B | ||
| Q2 25 | $2.6B | $6.0B | ||
| Q1 25 | $2.5B | $5.5B | ||
| Q4 24 | $2.5B | $5.3B | ||
| Q3 24 | $2.4B | $5.2B | ||
| Q2 24 | $2.4B | $4.9B | ||
| Q1 24 | $2.4B | $4.6B |
总资产GNRCRMD
| Q4 25 | $5.6B | $8.5B | ||
| Q3 25 | $5.6B | $8.3B | ||
| Q2 25 | $5.4B | $8.2B | ||
| Q1 25 | $5.1B | $7.6B | ||
| Q4 24 | $5.1B | $7.1B | ||
| Q3 24 | $5.2B | $7.2B | ||
| Q2 24 | $5.1B | $6.9B | ||
| Q1 24 | $5.1B | $6.8B |
负债/权益比GNRCRMD
| Q4 25 | 0.48× | 0.06× | ||
| Q3 25 | 0.51× | 0.07× | ||
| Q2 25 | 0.50× | 0.11× | ||
| Q1 25 | 0.48× | 0.12× | ||
| Q4 24 | 0.49× | 0.13× | ||
| Q3 24 | 0.56× | 0.13× | ||
| Q2 24 | 0.61× | 0.14× | ||
| Q1 24 | 0.61× | 0.22× |
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 | $189.3M | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $129.9M | $311.2M |
| 自由现金流率自由现金流/营收 | 11.9% | 21.9% |
| 资本支出强度资本支出/营收 | 5.4% | 2.0% |
| 现金转化率经营现金流/净利润 | — | 0.87× |
| 过去12个月自由现金流最近4个季度 | $268.1M | $1.8B |
8季度趋势，按日历期对齐
经营现金流GNRCRMD
| Q4 25 | $189.3M | $339.7M | ||
| Q3 25 | $118.4M | $457.3M | ||
| Q2 25 | $72.2M | $538.8M | ||
| Q1 25 | $58.2M | $578.7M | ||
| Q4 24 | $339.5M | $308.6M | ||
| Q3 24 | $212.3M | $325.5M | ||
| Q2 24 | $77.7M | $440.1M | ||
| Q1 24 | $111.9M | $402.0M |
自由现金流GNRCRMD
| Q4 25 | $129.9M | $311.2M | ||
| Q3 25 | $96.5M | $414.4M | ||
| Q2 25 | $14.5M | $508.2M | ||
| Q1 25 | $27.2M | $557.9M | ||
| Q4 24 | $286.1M | $288.0M | ||
| Q3 24 | $183.7M | $307.7M | ||
| Q2 24 | $49.7M | $415.2M | ||
| Q1 24 | $85.1M | $380.8M |
自由现金流率GNRCRMD
| Q4 25 | 11.9% | 21.9% | ||
| Q3 25 | 8.7% | 31.0% | ||
| Q2 25 | 1.4% | 37.7% | ||
| Q1 25 | 2.9% | 43.2% | ||
| Q4 24 | 23.2% | 22.5% | ||
| Q3 24 | 15.6% | 25.1% | ||
| Q2 24 | 5.0% | 33.9% | ||
| Q1 24 | 9.6% | 31.8% |
资本支出强度GNRCRMD
| Q4 25 | 5.4% | 2.0% | ||
| Q3 25 | 2.0% | 3.2% | ||
| Q2 25 | 5.4% | 2.3% | ||
| Q1 25 | 3.3% | 1.6% | ||
| Q4 24 | 4.3% | 1.6% | ||
| Q3 24 | 2.4% | 1.5% | ||
| Q2 24 | 2.8% | 2.0% | ||
| Q1 24 | 3.0% | 1.8% |
现金转化率GNRCRMD
| Q4 25 | — | 0.87× | ||
| Q3 25 | 1.79× | 1.31× | ||
| Q2 25 | 0.98× | 1.42× | ||
| Q1 25 | 1.33× | 1.59× | ||
| Q4 24 | 2.90× | 0.90× | ||
| Q3 24 | 1.87× | 1.05× | ||
| Q2 24 | 1.31× | 1.51× | ||
| Q1 24 | 4.27× | 1.34× |
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
GNRC
| Residential Power Products | $550.1M | 50% |
| Commercial And Industrial Power Products | $228.4M | 21% |
| Other | $202.3M | 19% |
| Other Products And Services | $106.0M | 10% |
| Intersegment Sales | $4.8M | 0% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
