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伯克希尔·哈撒韦（HEI）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伯克希尔·哈撒韦的1.2倍（$1.4B vs $1.2B），瑞思迈净利率更高（27.6% vs 15.6%，领先12.0%），伯克希尔·哈撒韦同比增速更快（19.3% vs 11.0%），瑞思迈自由现金流更多（$311.2M vs $268.5M），过去两年伯克希尔·哈撒韦的营收复合增速更高（16.2% vs 9.0%）
伯克希尔·哈撒韦是总部位于美国内布拉斯加州奥马哈的跨国综合控股集团，最初主营纺织品制造，1965年起在董事长兼首席执行官沃伦·巴菲特、副董事长查理·芒格的带领下转型为多元化企业集团，2026年初格雷格·阿贝尔接任首席执行官，巴菲特个人持有公司38.4%的A类有投票权股份，对应15.1%的整体经济权益。
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。
HEI vs RMD — 直观对比
营收规模更大
RMD
是对方的1.2倍
$1.2B
营收增速更快
HEI
高出8.3%
11.0%
净利率更高
RMD
高出12.0%
15.6%
自由现金流更多
RMD
多$42.7M
$268.5M
两年增速更快
HEI
近两年复合增速
9.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.4B |
| 净利润 | $188.3M | $392.6M |
| 毛利率 | 40.2% | 61.8% |
| 营业利润率 | 23.1% | 34.6% |
| 净利率 | 15.6% | 27.6% |
| 营收同比 | 19.3% | 11.0% |
| 净利润同比 | 34.8% | 13.9% |
| 每股收益（稀释后） | $1.32 | $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HEIRMD
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $1.0B | $1.3B | ||
| Q4 24 | $1.0B | $1.3B | ||
| Q3 24 | $992.2M | $1.2B | ||
| Q2 24 | $955.4M | $1.2B | ||
| Q1 24 | $896.4M | $1.2B |
净利润HEIRMD
| Q4 25 | $188.3M | $392.6M | ||
| Q3 25 | $177.3M | $348.5M | ||
| Q2 25 | $156.8M | $379.7M | ||
| Q1 25 | $168.0M | $365.0M | ||
| Q4 24 | $139.7M | $344.6M | ||
| Q3 24 | $136.6M | $311.4M | ||
| Q2 24 | $123.1M | $292.2M | ||
| Q1 24 | $114.7M | $300.5M |
毛利率HEIRMD
| Q4 25 | 40.2% | 61.8% | ||
| Q3 25 | 39.8% | 61.5% | ||
| Q2 25 | 39.9% | 60.8% | ||
| Q1 25 | 39.4% | 59.3% | ||
| Q4 24 | 38.9% | 58.6% | ||
| Q3 24 | 39.2% | 58.6% | ||
| Q2 24 | 38.9% | 58.5% | ||
| Q1 24 | 38.7% | 57.9% |
营业利润率HEIRMD
| Q4 25 | 23.1% | 34.6% | ||
| Q3 25 | 23.1% | 33.4% | ||
| Q2 25 | 22.6% | 33.7% | ||
| Q1 25 | 22.0% | 33.0% | ||
| Q4 24 | 21.6% | 32.5% | ||
| Q3 24 | 21.8% | 31.6% | ||
| Q2 24 | 21.9% | 31.2% | ||
| Q1 24 | 20.1% | 31.3% |
净利率HEIRMD
| Q4 25 | 15.6% | 27.6% | ||
| Q3 25 | 15.5% | 26.1% | ||
| Q2 25 | 14.3% | 28.2% | ||
| Q1 25 | 16.3% | 28.3% | ||
| Q4 24 | 13.8% | 26.9% | ||
| Q3 24 | 13.8% | 25.4% | ||
| Q2 24 | 12.9% | 23.9% | ||
| Q1 24 | 12.8% | 25.1% |
每股收益（稀释后）HEIRMD
| Q4 25 | $1.32 | $2.68 | ||
| Q3 25 | $1.26 | $2.37 | ||
| Q2 25 | $1.12 | $2.58 | ||
| Q1 25 | $1.20 | $2.48 | ||
| Q4 24 | $1.00 | $2.34 | ||
| Q3 24 | $0.97 | $2.11 | ||
| Q2 24 | $0.88 | $1.97 | ||
| Q1 24 | $0.82 | $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 | $217.8M | $1.4B |
| 总债务越低越好 | $2.2B | $403.9M |
| 股东权益账面价值 | $4.3B | $6.3B |
| 总资产 | $8.5B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.50× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资HEIRMD
| Q4 25 | $217.8M | $1.4B | ||
| Q3 25 | $261.9M | $1.4B | ||
| Q2 25 | $242.3M | $1.2B | ||
| Q1 25 | $165.5M | $932.7M | ||
| Q4 24 | $162.1M | $521.9M | ||
| Q3 24 | $202.9M | $426.4M | ||
| Q2 24 | $204.2M | $238.4M | ||
| Q1 24 | $196.3M | $237.9M |
总债务HEIRMD
| Q4 25 | $2.2B | $403.9M | ||
| Q3 25 | $2.4B | $408.7M | ||
| Q2 25 | $2.3B | $658.4M | ||
| Q1 25 | $2.3B | $663.1M | ||
| Q4 24 | $2.2B | $662.9M | ||
| Q3 24 | $2.3B | $667.6M | ||
| Q2 24 | $2.4B | $697.3M | ||
| Q1 24 | $2.5B | $997.0M |
股东权益HEIRMD
| Q4 25 | $4.3B | $6.3B | ||
| Q3 25 | $4.1B | $6.1B | ||
| Q2 25 | $4.0B | $6.0B | ||
| Q1 25 | $3.7B | $5.5B | ||
| Q4 24 | $3.6B | $5.3B | ||
| Q3 24 | $3.5B | $5.2B | ||
| Q2 24 | $3.4B | $4.9B | ||
| Q1 24 | $3.3B | $4.6B |
总资产HEIRMD
| Q4 25 | $8.5B | $8.5B | ||
| Q3 25 | $8.5B | $8.3B | ||
| Q2 25 | $8.1B | $8.2B | ||
| Q1 25 | $7.9B | $7.6B | ||
| Q4 24 | $7.6B | $7.1B | ||
| Q3 24 | $7.4B | $7.2B | ||
| Q2 24 | $7.4B | $6.9B | ||
| Q1 24 | $7.3B | $6.8B |
负债/权益比HEIRMD
| Q4 25 | 0.50× | 0.06× | ||
| Q3 25 | 0.59× | 0.07× | ||
| Q2 25 | 0.57× | 0.11× | ||
| Q1 25 | 0.63× | 0.12× | ||
| Q4 24 | 0.61× | 0.13× | ||
| Q3 24 | 0.64× | 0.13× | ||
| Q2 24 | 0.70× | 0.14× | ||
| Q1 24 | 0.76× | 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 | $295.3M | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $268.5M | $311.2M |
| 自由现金流率自由现金流/营收 | 22.2% | 21.9% |
| 资本支出强度资本支出/营收 | 2.2% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.57× | 0.87× |
| 过去12个月自由现金流最近4个季度 | $861.4M | $1.8B |
8季度趋势，按日历期对齐
经营现金流HEIRMD
| Q4 25 | $295.3M | $339.7M | ||
| Q3 25 | $231.2M | $457.3M | ||
| Q2 25 | $204.7M | $538.8M | ||
| Q1 25 | $203.0M | $578.7M | ||
| Q4 24 | $205.6M | $308.6M | ||
| Q3 24 | $214.0M | $325.5M | ||
| Q2 24 | $141.1M | $440.1M | ||
| Q1 24 | $111.7M | $402.0M |
自由现金流HEIRMD
| Q4 25 | $268.5M | $311.2M | ||
| Q3 25 | $218.5M | $414.4M | ||
| Q2 25 | $188.7M | $508.2M | ||
| Q1 25 | $185.7M | $557.9M | ||
| Q4 24 | $189.5M | $288.0M | ||
| Q3 24 | $198.1M | $307.7M | ||
| Q2 24 | $128.2M | $415.2M | ||
| Q1 24 | $98.3M | $380.8M |
自由现金流率HEIRMD
| Q4 25 | 22.2% | 21.9% | ||
| Q3 25 | 19.0% | 31.0% | ||
| Q2 25 | 17.2% | 37.7% | ||
| Q1 25 | 18.0% | 43.2% | ||
| Q4 24 | 18.7% | 22.5% | ||
| Q3 24 | 20.0% | 25.1% | ||
| Q2 24 | 13.4% | 33.9% | ||
| Q1 24 | 11.0% | 31.8% |
资本支出强度HEIRMD
| Q4 25 | 2.2% | 2.0% | ||
| Q3 25 | 1.1% | 3.2% | ||
| Q2 25 | 1.5% | 2.3% | ||
| Q1 25 | 1.7% | 1.6% | ||
| Q4 24 | 1.6% | 1.6% | ||
| Q3 24 | 1.6% | 1.5% | ||
| Q2 24 | 1.4% | 2.0% | ||
| Q1 24 | 1.5% | 1.8% |
现金转化率HEIRMD
| Q4 25 | 1.57× | 0.87× | ||
| Q3 25 | 1.30× | 1.31× | ||
| Q2 25 | 1.31× | 1.42× | ||
| Q1 25 | 1.21× | 1.59× | ||
| Q4 24 | 1.47× | 0.90× | ||
| Q3 24 | 1.57× | 1.05× | ||
| Q2 24 | 1.15× | 1.51× | ||
| Q1 24 | 0.97× | 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
HEI
| Aftermarket Replacement Parts | $510.0M | 42% |
| Electronic Componentsfor Defense Spaceand Aerospace | $311.8M | 26% |
| Defenseand Space | $170.6M | 14% |
| Specialty Products | $118.9M | 10% |
| Other Electronic Components | $73.0M | 6% |
| Other Industries | $15.9M | 1% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
