vs
孩之宝（HAS）与直觉外科（ISRG）财务数据对比。点击上方公司名可切换其他公司
直觉外科的季度营收约是孩之宝的1.9倍（$2.8B vs $1.4B），直觉外科净利率更高（29.8% vs 13.9%，领先15.9%），孩之宝同比增速更快（31.3% vs 23.0%），过去两年孩之宝的营收复合增速更高（38.2% vs 17.4%）
孩之宝是1923年12月6日成立的美国跨国玩具制造与娱乐控股企业，总部位于罗德岛州波塔基特。旗下拥有Kenner、米尔顿·布拉德利、派克兄弟、威世智等知名品牌，持有大量热门IP商标权，业务覆盖玩具生产、游戏开发、娱乐内容出品等多个领域。
直觉外科（Intuitive Surgical）是美国医疗科技企业，主打研发、生产及销售微创外科手术机器人产品，核心产品为达芬奇手术系统，可有效提升患者临床治疗效果。该公司为纳斯达克100、标普100及标普500指数成分股，截至2021年末全球达芬奇系统装机量达6730台，其中美国市场占4139台。
HAS vs ISRG — 直观对比
营收规模更大
ISRG
是对方的1.9倍
$1.4B
营收增速更快
HAS
高出8.3%
23.0%
净利率更高
ISRG
高出15.9%
13.9%
两年增速更快
HAS
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.8B |
| 净利润 | $201.6M | $826.0M |
| 毛利率 | 68.7% | 66.1% |
| 营业利润率 | 20.6% | — |
| 净利率 | 13.9% | 29.8% |
| 营收同比 | 31.3% | 23.0% |
| 净利润同比 | 687.8% | 17.4% |
| 每股收益（稀释后） | $1.46 | $2.28 |
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HASISRG
| Q1 26 | — | $2.8B | ||
| Q4 25 | $1.4B | $2.9B | ||
| Q3 25 | $1.4B | $2.5B | ||
| Q2 25 | $980.8M | $2.4B | ||
| Q1 25 | $887.1M | $2.3B | ||
| Q4 24 | $1.1B | $2.4B | ||
| Q3 24 | $1.3B | $2.0B | ||
| Q2 24 | $995.3M | $2.0B |
净利润HASISRG
| Q1 26 | — | $826.0M | ||
| Q4 25 | $201.6M | $794.8M | ||
| Q3 25 | $233.2M | $704.4M | ||
| Q2 25 | $-855.8M | $658.4M | ||
| Q1 25 | $98.6M | $698.4M | ||
| Q4 24 | $-34.3M | $685.7M | ||
| Q3 24 | $223.2M | $565.1M | ||
| Q2 24 | $138.5M | $526.9M |
毛利率HASISRG
| Q1 26 | — | 66.1% | ||
| Q4 25 | 68.7% | 66.4% | ||
| Q3 25 | 70.1% | 66.4% | ||
| Q2 25 | 77.0% | 66.3% | ||
| Q1 25 | 76.9% | 64.7% | ||
| Q4 24 | 67.4% | 68.0% | ||
| Q3 24 | 70.4% | 67.4% | ||
| Q2 24 | 76.1% | 68.3% |
营业利润率HASISRG
| Q1 26 | — | — | ||
| Q4 25 | 20.6% | 30.2% | ||
| Q3 25 | 24.6% | 30.3% | ||
| Q2 25 | -81.4% | 30.5% | ||
| Q1 25 | 19.2% | 25.7% | ||
| Q4 24 | 5.4% | 30.4% | ||
| Q3 24 | 23.6% | 28.3% | ||
| Q2 24 | 21.3% | 28.2% |
净利率HASISRG
| Q1 26 | — | 29.8% | ||
| Q4 25 | 13.9% | 27.7% | ||
| Q3 25 | 16.8% | 28.1% | ||
| Q2 25 | -87.3% | 27.0% | ||
| Q1 25 | 11.1% | 31.0% | ||
| Q4 24 | -3.1% | 28.4% | ||
| Q3 24 | 17.4% | 27.7% | ||
| Q2 24 | 13.9% | 26.2% |
每股收益（稀释后）HASISRG
| Q1 26 | — | $2.28 | ||
| Q4 25 | $1.46 | $2.19 | ||
| Q3 25 | $1.64 | $1.95 | ||
| Q2 25 | $-6.10 | $1.81 | ||
| Q1 25 | $0.70 | $1.92 | ||
| Q4 24 | $-0.25 | $1.89 | ||
| Q3 24 | $1.59 | $1.56 | ||
| Q2 24 | $0.99 | $1.46 |
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 | — | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $565.5M | $17.6B |
| 总资产 | $5.6B | $20.1B |
| 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HASISRG
| Q1 26 | — | — | ||
| Q4 25 | — | $5.9B | ||
| Q3 25 | — | $4.9B | ||
| Q2 25 | — | $5.3B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $4.8B |
股东权益HASISRG
| Q1 26 | — | $17.6B | ||
| Q4 25 | $565.5M | $17.8B | ||
| Q3 25 | $433.8M | $16.9B | ||
| Q2 25 | $269.7M | $17.8B | ||
| Q1 25 | $1.2B | $17.1B | ||
| Q4 24 | $1.2B | $16.4B | ||
| Q3 24 | $1.3B | $15.6B | ||
| Q2 24 | $1.2B | $14.7B |
总资产HASISRG
| Q1 26 | — | $20.1B | ||
| Q4 25 | $5.6B | $20.5B | ||
| Q3 25 | $5.5B | $19.4B | ||
| Q2 25 | $5.2B | $20.2B | ||
| Q1 25 | $6.0B | $19.2B | ||
| Q4 24 | $6.3B | $18.7B | ||
| Q3 24 | $7.2B | $17.7B | ||
| Q2 24 | $6.9B | $16.6B |
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 | $403.2M | — |
| 自由现金流经营现金流 - 资本支出 | $389.5M | — |
| 自由现金流率自由现金流/营收 | 26.9% | — |
| 资本支出强度资本支出/营收 | 0.9% | — |
| 现金转化率经营现金流/净利润 | 2.00× | — |
| 过去12个月自由现金流最近4个季度 | $829.9M | — |
8季度趋势，按日历期对齐
经营现金流HASISRG
| Q1 26 | — | — | ||
| Q4 25 | $403.2M | $892.5M | ||
| Q3 25 | $280.6M | $841.0M | ||
| Q2 25 | $71.3M | $715.4M | ||
| Q1 25 | $138.1M | $581.6M | ||
| Q4 24 | $259.8M | $822.6M | ||
| Q3 24 | $222.5M | $706.5M | ||
| Q2 24 | $187.3M | $620.5M |
自由现金流HASISRG
| Q1 26 | — | — | ||
| Q4 25 | $389.5M | $730.0M | ||
| Q3 25 | $260.9M | $735.6M | ||
| Q2 25 | $55.2M | $560.1M | ||
| Q1 25 | $124.3M | $465.0M | ||
| Q4 24 | $200.8M | $510.6M | ||
| Q3 24 | $174.0M | $458.6M | ||
| Q2 24 | $135.4M | $311.1M |
自由现金流率HASISRG
| Q1 26 | — | — | ||
| Q4 25 | 26.9% | 25.5% | ||
| Q3 25 | 18.8% | 29.4% | ||
| Q2 25 | 5.6% | 23.0% | ||
| Q1 25 | 14.0% | 20.6% | ||
| Q4 24 | 18.2% | 21.2% | ||
| Q3 24 | 13.6% | 22.5% | ||
| Q2 24 | 13.6% | 15.5% |
资本支出强度HASISRG
| Q1 26 | — | — | ||
| Q4 25 | 0.9% | 5.7% | ||
| Q3 25 | 1.4% | 4.2% | ||
| Q2 25 | 1.6% | 6.4% | ||
| Q1 25 | 1.6% | 5.2% | ||
| Q4 24 | 5.4% | 12.9% | ||
| Q3 24 | 3.8% | 12.2% | ||
| Q2 24 | 5.2% | 15.4% |
现金转化率HASISRG
| Q1 26 | — | — | ||
| Q4 25 | 2.00× | 1.12× | ||
| Q3 25 | 1.20× | 1.19× | ||
| Q2 25 | — | 1.09× | ||
| Q1 25 | 1.40× | 0.83× | ||
| Q4 24 | — | 1.20× | ||
| Q3 24 | 1.00× | 1.25× | ||
| Q2 24 | 1.35× | 1.18× |
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
HAS
| Grow Brands | $1.1B | 75% |
| Optimize Brands | $188.7M | 13% |
| Digital And Licensing Gaming | $135.7M | 9% |
| Class Of Principal Product Family Brands | $13.1M | 1% |
| Filmand TV | $2.4M | 0% |
ISRG
| Instruments and accessories | $1.7B | 61% |
| Systems | $650.7M | 23% |
| Services | $433.7M | 16% |
