vs
哈特福德（HIG）与TENET HEALTHCARE CORP（THC）财务数据对比。点击上方公司名可切换其他公司
TENET HEALTHCARE CORP的季度营收约是哈特福德的1.4倍（$5.5B vs $4.1B），哈特福德净利率更高（13.2% vs 11.7%，领先1.5%），TENET HEALTHCARE CORP同比增速更快（9.0% vs -43.7%），过去两年TENET HEALTHCARE CORP的营收复合增速更高（1.5% vs -20.8%）
哈特福德（The Hartford）是美国头部保险企业，位列2024年《财富》世界500强第162位，总部位于康涅狄格州哈特福德市。集团拥有200余年行业经验，在财产意外险、员工福利及共同基金领域处于领先地位，凭借优质服务、可持续运营与诚信经营广受认可。
Tenet Healthcare Corporation是总部位于美国达拉斯的营利性跨国医疗服务企业，旗下拥有USPI等多个品牌、子公司、合资企业及合作主体，运营65家医院及超过450个医疗设施，还通过旗下Conifer Health Solutions为各类医疗系统及其他客户提供专业医疗支持服务
HIG vs THC — 直观对比
营收规模更大
THC
是对方的1.4倍
$4.1B
营收增速更快
THC
高出52.6%
-43.7%
净利率更高
HIG
高出1.5%
11.7%
两年增速更快
THC
近两年复合增速
-20.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.1B | $5.5B |
| 净利润 | $536.0M | $644.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 15.4% |
| 净利率 | 13.2% | 11.7% |
| 营收同比 | -43.7% | 9.0% |
| 净利润同比 | 12.0% | 12.6% |
| 每股收益（稀释后） | — | $4.22 |
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HIGTHC
| Q1 26 | $4.1B | — | ||
| Q4 25 | $7.3B | $5.5B | ||
| Q3 25 | $7.2B | $5.3B | ||
| Q2 25 | $7.0B | $5.3B | ||
| Q1 25 | $6.8B | $5.2B | ||
| Q4 24 | $6.9B | $5.1B | ||
| Q3 24 | $6.8B | $5.1B | ||
| Q2 24 | $6.5B | $5.1B |
净利润HIGTHC
| Q1 26 | $536.0M | — | ||
| Q4 25 | — | $644.0M | ||
| Q3 25 | $1.1B | $579.0M | ||
| Q2 25 | $995.0M | $522.0M | ||
| Q1 25 | $630.0M | $622.0M | ||
| Q4 24 | — | $572.0M | ||
| Q3 24 | $767.0M | $681.0M | ||
| Q2 24 | $738.0M | $477.0M |
营业利润率HIGTHC
| Q1 26 | — | — | ||
| Q4 25 | 19.3% | 15.4% | ||
| Q3 25 | 18.2% | 16.8% | ||
| Q2 25 | 17.8% | 15.6% | ||
| Q1 25 | 11.5% | 18.1% | ||
| Q4 24 | 15.6% | 16.2% | ||
| Q3 24 | 14.1% | 21.3% | ||
| Q2 24 | 14.1% | 14.9% |
净利率HIGTHC
| Q1 26 | 13.2% | — | ||
| Q4 25 | — | 11.7% | ||
| Q3 25 | 14.9% | 10.9% | ||
| Q2 25 | 14.2% | 9.9% | ||
| Q1 25 | 9.3% | 11.9% | ||
| Q4 24 | — | 11.3% | ||
| Q3 24 | 11.4% | 13.3% | ||
| Q2 24 | 11.4% | 9.3% |
每股收益（稀释后）HIGTHC
| Q1 26 | — | — | ||
| Q4 25 | $3.96 | $4.22 | ||
| Q3 25 | $3.77 | $3.86 | ||
| Q2 25 | $3.44 | $3.14 | ||
| Q1 25 | $2.15 | $4.27 | ||
| Q4 24 | $2.88 | $3.79 | ||
| Q3 24 | $2.56 | $4.89 | ||
| Q2 24 | $2.44 | $2.64 |
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 | $1.7M | $2.9B |
| 总债务越低越好 | — | $13.1B |
| 股东权益账面价值 | $16.8M | $4.2B |
| 总资产 | $86.3M | $29.7B |
| 负债/权益比越低杠杆越低 | — | 3.10× |
8季度趋势，按日历期对齐
现金及短期投资HIGTHC
| Q1 26 | $1.7M | — | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $2.9B |
总债务HIGTHC
| Q1 26 | — | — | ||
| Q4 25 | $4.4B | $13.1B | ||
| Q3 25 | $4.4B | $13.1B | ||
| Q2 25 | $4.4B | $13.1B | ||
| Q1 25 | $4.4B | $13.1B | ||
| Q4 24 | $4.4B | $13.1B | ||
| Q3 24 | $4.4B | $12.8B | ||
| Q2 24 | $4.4B | $12.8B |
股东权益HIGTHC
| Q1 26 | $16.8M | — | ||
| Q4 25 | $19.0B | $4.2B | ||
| Q3 25 | $18.4B | $4.0B | ||
| Q2 25 | $17.5B | $3.7B | ||
| Q1 25 | $16.8B | $4.2B | ||
| Q4 24 | $16.4B | $4.2B | ||
| Q3 24 | $17.0B | $3.8B | ||
| Q2 24 | $15.7B | $3.5B |
总资产HIGTHC
| Q1 26 | $86.3M | — | ||
| Q4 25 | $86.0B | $29.7B | ||
| Q3 25 | $85.0B | $29.4B | ||
| Q2 25 | $83.6B | $28.7B | ||
| Q1 25 | $82.3B | $29.2B | ||
| Q4 24 | $80.9B | $28.9B | ||
| Q3 24 | $81.2B | $29.4B | ||
| Q2 24 | $79.0B | $29.3B |
负债/权益比HIGTHC
| Q1 26 | — | — | ||
| Q4 25 | 0.23× | 3.10× | ||
| Q3 25 | 0.24× | 3.26× | ||
| Q2 25 | 0.25× | 3.49× | ||
| Q1 25 | 0.26× | 3.13× | ||
| Q4 24 | 0.27× | 3.14× | ||
| Q3 24 | 0.26× | 3.33× | ||
| Q2 24 | 0.28× | 3.67× |
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 | — | $731.0M |
| 自由现金流经营现金流 - 资本支出 | — | $367.0M |
| 自由现金流率自由现金流/营收 | — | 6.6% |
| 资本支出强度资本支出/营收 | — | 6.6% |
| 现金转化率经营现金流/净利润 | — | 1.14× |
| 过去12个月自由现金流最近4个季度 | — | $2.5B |
8季度趋势，按日历期对齐
经营现金流HIGTHC
| Q1 26 | — | — | ||
| Q4 25 | $5.9B | $731.0M | ||
| Q3 25 | $1.8B | $1.1B | ||
| Q2 25 | $1.3B | $936.0M | ||
| Q1 25 | $985.0M | $815.0M | ||
| Q4 24 | $5.9B | $-331.0M | ||
| Q3 24 | $1.7B | $1.0B | ||
| Q2 24 | $1.3B | $747.0M |
自由现金流HIGTHC
| Q1 26 | — | — | ||
| Q4 25 | $5.8B | $367.0M | ||
| Q3 25 | $1.8B | $778.0M | ||
| Q2 25 | $1.3B | $743.0M | ||
| Q1 25 | $947.0M | $642.0M | ||
| Q4 24 | $5.8B | $-661.0M | ||
| Q3 24 | $1.6B | $829.0M | ||
| Q2 24 | $1.2B | $602.0M |
自由现金流率HIGTHC
| Q1 26 | — | — | ||
| Q4 25 | 78.4% | 6.6% | ||
| Q3 25 | 24.8% | 14.7% | ||
| Q2 25 | 17.9% | 14.1% | ||
| Q1 25 | 13.9% | 12.3% | ||
| Q4 24 | 83.8% | -13.0% | ||
| Q3 24 | 24.0% | 16.2% | ||
| Q2 24 | 18.5% | 11.8% |
资本支出强度HIGTHC
| Q1 26 | — | — | ||
| Q4 25 | 2.3% | 6.6% | ||
| Q3 25 | 0.6% | 5.3% | ||
| Q2 25 | 0.6% | 3.7% | ||
| Q1 25 | 0.6% | 3.3% | ||
| Q4 24 | 2.1% | 6.5% | ||
| Q3 24 | 0.9% | 4.2% | ||
| Q2 24 | 0.9% | 2.8% |
现金转化率HIGTHC
| Q1 26 | — | — | ||
| Q4 25 | — | 1.14× | ||
| Q3 25 | 1.70× | 1.83× | ||
| Q2 25 | 1.30× | 1.79× | ||
| Q1 25 | 1.56× | 1.31× | ||
| Q4 24 | — | -0.58× | ||
| Q3 24 | 2.19× | 1.53× | ||
| Q2 24 | 1.71× | 1.57× |
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
HIG
| Earned premiums | $3.6B | 88% |
| Other | $486.0M | 12% |
| Fee income | $12.0M | 0% |
THC
| Other | $2.9B | 52% |
| Health Care Patient Service | $1.4B | 25% |
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.2B | 22% |
| Health Care Other Sources | $56.0M | 1% |
