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哈雷戴维森（HOG）与Orthofix Medical Inc.（OFIX）财务数据对比。点击上方公司名可切换其他公司
哈雷戴维森的季度营收约是Orthofix Medical Inc.的1.8倍（$390.5M vs $219.9M），Orthofix Medical Inc.净利率更高（-1.0% vs -72.3%，领先71.3%），Orthofix Medical Inc.同比增速更快（2.0% vs -9.4%），哈雷戴维森自由现金流更多（$100.4M vs $16.8M），过去两年Orthofix Medical Inc.的营收复合增速更高（8.0% vs -48.6%）
哈雷戴维森是源自美国的摩托车制造商与生活方式品牌，总部位于威斯康星州密尔沃基，创立于1903年。它是大萧条时期幸存下来的两大美国摩托车厂商之一，历经多次股权变动、子公司调整、经营困境与全球竞争，如今已是全球知名的标志性品牌。
Orthofix医疗是全球知名骨科医疗器械企业，专注于研发、生产及销售脊柱植入物、骨科创伤产品、骨生长刺激治疗设备及再生医疗产品，服务全球多地的骨科医师与医疗机构，致力于提升肌肉骨骼疾病患者的诊疗效果。
HOG vs OFIX — 直观对比
营收规模更大
HOG
是对方的1.8倍
$219.9M
营收增速更快
OFIX
高出11.3%
-9.4%
净利率更高
OFIX
高出71.3%
-72.3%
自由现金流更多
HOG
多$83.6M
$16.8M
两年增速更快
OFIX
近两年复合增速
-48.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $390.5M | $219.9M |
| 净利润 | $-282.6M | $-2.2M |
| 毛利率 | -7.9% | 71.1% |
| 营业利润率 | -92.4% | 0.2% |
| 净利率 | -72.3% | -1.0% |
| 营收同比 | -9.4% | 2.0% |
| 净利润同比 | -138.6% | 92.4% |
| 每股收益（稀释后） | $-2.27 | $-0.05 |
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HOGOFIX
| Q4 25 | $390.5M | $219.9M | ||
| Q3 25 | $1.1B | $205.6M | ||
| Q2 25 | $1.0B | $203.1M | ||
| Q1 25 | $1.1B | $193.6M | ||
| Q4 24 | $430.9M | $215.7M | ||
| Q3 24 | $881.2M | $196.6M | ||
| Q2 24 | $1.4B | $198.6M | ||
| Q1 24 | $1.5B | $188.6M |
净利润HOGOFIX
| Q4 25 | $-282.6M | $-2.2M | ||
| Q3 25 | $377.4M | $-22.8M | ||
| Q2 25 | $107.6M | $-14.1M | ||
| Q1 25 | $133.1M | $-53.1M | ||
| Q4 24 | $-118.4M | $-29.1M | ||
| Q3 24 | $119.0M | $-27.4M | ||
| Q2 24 | $218.3M | $-33.4M | ||
| Q1 24 | $234.9M | $-36.0M |
毛利率HOGOFIX
| Q4 25 | -7.9% | 71.1% | ||
| Q3 25 | 26.0% | 72.2% | ||
| Q2 25 | 28.5% | 68.7% | ||
| Q1 25 | 28.9% | 62.8% | ||
| Q4 24 | -2.0% | 69.0% | ||
| Q3 24 | 29.8% | 68.7% | ||
| Q2 24 | 31.8% | 67.8% | ||
| Q1 24 | 30.9% | 67.5% |
营业利润率HOGOFIX
| Q4 25 | -92.4% | 0.2% | ||
| Q3 25 | 44.0% | -8.3% | ||
| Q2 25 | 10.7% | -7.9% | ||
| Q1 25 | 14.8% | -25.2% | ||
| Q4 24 | -44.9% | -5.3% | ||
| Q3 24 | 12.0% | -9.6% | ||
| Q2 24 | 17.8% | -12.5% | ||
| Q1 24 | 17.8% | -15.6% |
净利率HOGOFIX
| Q4 25 | -72.3% | -1.0% | ||
| Q3 25 | 35.0% | -11.1% | ||
| Q2 25 | 10.2% | -6.9% | ||
| Q1 25 | 12.3% | -27.4% | ||
| Q4 24 | -27.5% | -13.5% | ||
| Q3 24 | 13.5% | -13.9% | ||
| Q2 24 | 16.1% | -16.8% | ||
| Q1 24 | 15.9% | -19.1% |
每股收益（稀释后）HOGOFIX
| Q4 25 | $-2.27 | $-0.05 | ||
| Q3 25 | $3.10 | $-0.57 | ||
| Q2 25 | $0.88 | $-0.36 | ||
| Q1 25 | $1.07 | $-1.35 | ||
| Q4 24 | $-0.82 | $-0.76 | ||
| Q3 24 | $0.91 | $-0.71 | ||
| Q2 24 | $1.63 | $-0.88 | ||
| Q1 24 | $1.72 | $-0.95 |
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 | $3.1B | $82.0M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $3.1B | $450.0M |
| 总资产 | $8.0B | $850.6M |
| 负债/权益比越低杠杆越低 | 0.79× | — |
8季度趋势，按日历期对齐
现金及短期投资HOGOFIX
| Q4 25 | $3.1B | $82.0M | ||
| Q3 25 | $1.8B | $62.9M | ||
| Q2 25 | $1.6B | $65.6M | ||
| Q1 25 | $1.9B | $58.0M | ||
| Q4 24 | $1.6B | $83.2M | ||
| Q3 24 | $2.2B | $30.1M | ||
| Q2 24 | $1.8B | $26.4M | ||
| Q1 24 | $1.5B | $27.0M |
总债务HOGOFIX
| Q4 25 | $2.5B | — | ||
| Q3 25 | $4.5B | $157.2M | ||
| Q2 25 | $6.4B | $157.0M | ||
| Q1 25 | $6.8B | $156.9M | ||
| Q4 24 | $6.3B | $157.0M | ||
| Q3 24 | $7.3B | $118.5M | ||
| Q2 24 | $7.0B | $118.0M | ||
| Q1 24 | $6.3B | $118.2M |
股东权益HOGOFIX
| Q4 25 | $3.1B | $450.0M | ||
| Q3 25 | $3.6B | $442.5M | ||
| Q2 25 | $3.3B | $458.3M | ||
| Q1 25 | $3.2B | $458.3M | ||
| Q4 24 | $3.2B | $503.1M | ||
| Q3 24 | $3.4B | $525.9M | ||
| Q2 24 | $3.4B | $546.0M | ||
| Q1 24 | $3.3B | $570.3M |
总资产HOGOFIX
| Q4 25 | $8.0B | $850.6M | ||
| Q3 25 | $10.6B | $832.6M | ||
| Q2 25 | $12.1B | $837.2M | ||
| Q1 25 | $12.4B | $823.1M | ||
| Q4 24 | $11.9B | $893.3M | ||
| Q3 24 | $13.0B | $867.9M | ||
| Q2 24 | $12.8B | $882.0M | ||
| Q1 24 | $12.3B | $906.0M |
负债/权益比HOGOFIX
| Q4 25 | 0.79× | — | ||
| Q3 25 | 1.25× | 0.36× | ||
| Q2 25 | 1.91× | 0.34× | ||
| Q1 25 | 2.14× | 0.34× | ||
| Q4 24 | 2.00× | 0.31× | ||
| Q3 24 | 2.13× | 0.23× | ||
| Q2 24 | 2.03× | 0.22× | ||
| Q1 24 | 1.88× | 0.21× |
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 | $152.0M | $27.7M |
| 自由现金流经营现金流 - 资本支出 | $100.4M | $16.8M |
| 自由现金流率自由现金流/营收 | 25.7% | 7.6% |
| 资本支出强度资本支出/营收 | 13.2% | 4.9% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $415.2M | $-1.3M |
8季度趋势，按日历期对齐
经营现金流HOGOFIX
| Q4 25 | $152.0M | $27.7M | ||
| Q3 25 | $-92.6M | $12.4M | ||
| Q2 25 | $368.0M | $11.6M | ||
| Q1 25 | $141.5M | $-18.4M | ||
| Q4 24 | $133.2M | $23.7M | ||
| Q3 24 | $353.0M | $11.7M | ||
| Q2 24 | $473.6M | $9.0M | ||
| Q1 24 | $104.0M | $-18.6M |
自由现金流HOGOFIX
| Q4 25 | $100.4M | $16.8M | ||
| Q3 25 | $-129.1M | $2.5M | ||
| Q2 25 | $332.4M | $4.5M | ||
| Q1 25 | $111.6M | $-25.1M | ||
| Q4 24 | $77.0M | $15.2M | ||
| Q3 24 | $300.4M | $6.3M | ||
| Q2 24 | $432.2M | $-360.0K | ||
| Q1 24 | $57.6M | $-29.1M |
自由现金流率HOGOFIX
| Q4 25 | 25.7% | 7.6% | ||
| Q3 25 | -12.0% | 1.2% | ||
| Q2 25 | 31.7% | 2.2% | ||
| Q1 25 | 10.3% | -13.0% | ||
| Q4 24 | 17.9% | 7.0% | ||
| Q3 24 | 34.1% | 3.2% | ||
| Q2 24 | 31.9% | -0.2% | ||
| Q1 24 | 3.9% | -15.4% |
资本支出强度HOGOFIX
| Q4 25 | 13.2% | 4.9% | ||
| Q3 25 | 3.4% | 4.8% | ||
| Q2 25 | 3.4% | 3.5% | ||
| Q1 25 | 2.8% | 3.5% | ||
| Q4 24 | 13.0% | 4.0% | ||
| Q3 24 | 6.0% | 2.7% | ||
| Q2 24 | 3.1% | 4.7% | ||
| Q1 24 | 3.1% | 5.6% |
现金转化率HOGOFIX
| Q4 25 | — | — | ||
| Q3 25 | -0.25× | — | ||
| Q2 25 | 3.42× | — | ||
| Q1 25 | 1.06× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.97× | — | ||
| Q2 24 | 2.17× | — | ||
| Q1 24 | 0.44× | — |
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
HOG
| Motorcycles | $193.9M | 50% |
| Other | $63.8M | 16% |
| Other Income Financial Services | $59.8M | 15% |
| Apparel | $47.2M | 12% |
| Livewire Segment | $11.4M | 3% |
OFIX
| Spinal Implants Biologics And Enabling Technologies | $113.6M | 52% |
| Bone Growth Therapies | $68.3M | 31% |
| Other | $22.7M | 10% |
| IT | $5.9M | 3% |
| GB | $3.5M | 2% |
| FR | $3.5M | 2% |
| DE | $2.3M | 1% |
