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汉瑞祥（HSIC）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是汉瑞祥的1.3倍（$4.5B vs $3.4B），皇家加勒比集团净利率更高（21.3% vs 2.9%，领先18.4%），皇家加勒比集团同比增速更快（11.3% vs 7.7%），过去两年汉瑞祥的营收复合增速更高（4.1% vs 4.1%）
汉瑞祥（Henry Schein, Inc.）是美国的医疗保健产品及服务分销商，业务覆盖全球33个国家和地区，是全球面向诊所类牙科及医疗从业者的最大医疗解决方案供应商。公司连续14年入选Ethisphere评选的「全球最具道德企业」榜单，2025年再次登榜。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
HSIC vs RCL — 直观对比
营收规模更大
RCL
是对方的1.3倍
$3.4B
营收增速更快
RCL
高出3.6%
7.7%
净利率更高
RCL
高出18.4%
2.9%
两年增速更快
HSIC
近两年复合增速
4.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $4.5B |
| 净利润 | $101.0M | $950.0M |
| 毛利率 | 30.9% | — |
| 营业利润率 | 4.7% | 26.1% |
| 净利率 | 2.9% | 21.3% |
| 营收同比 | 7.7% | 11.3% |
| 净利润同比 | 7.4% | 29.1% |
| 每股收益（稀释后） | $0.85 | $3.48 |
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HSICRCL
| Q1 26 | — | $4.5B | ||
| Q4 25 | $3.4B | $4.3B | ||
| Q3 25 | $3.3B | $5.1B | ||
| Q2 25 | $3.2B | $4.5B | ||
| Q1 25 | $3.2B | $4.0B | ||
| Q4 24 | $3.2B | $3.8B | ||
| Q3 24 | $3.2B | $4.9B | ||
| Q2 24 | $3.1B | $4.1B |
净利润HSICRCL
| Q1 26 | — | $950.0M | ||
| Q4 25 | $101.0M | $753.0M | ||
| Q3 25 | $101.0M | $1.6B | ||
| Q2 25 | $86.0M | $1.2B | ||
| Q1 25 | $110.0M | $730.0M | ||
| Q4 24 | $94.0M | $552.0M | ||
| Q3 24 | $99.0M | $1.1B | ||
| Q2 24 | $104.0M | $854.0M |
毛利率HSICRCL
| Q1 26 | — | — | ||
| Q4 25 | 30.9% | 47.4% | ||
| Q3 25 | 30.7% | 51.8% | ||
| Q2 25 | 31.4% | 49.7% | ||
| Q1 25 | 31.6% | 48.0% | ||
| Q4 24 | 31.1% | 45.4% | ||
| Q3 24 | 31.3% | 51.1% | ||
| Q2 24 | 32.5% | 47.6% |
营业利润率HSICRCL
| Q1 26 | — | 26.1% | ||
| Q4 25 | 4.7% | 21.9% | ||
| Q3 25 | 4.9% | 33.1% | ||
| Q2 25 | 4.7% | 29.3% | ||
| Q1 25 | 5.5% | 23.6% | ||
| Q4 24 | 4.9% | 16.6% | ||
| Q3 24 | 4.9% | 33.4% | ||
| Q2 24 | 5.1% | 26.7% |
净利率HSICRCL
| Q1 26 | — | 21.3% | ||
| Q4 25 | 2.9% | 17.7% | ||
| Q3 25 | 3.0% | 30.6% | ||
| Q2 25 | 2.7% | 26.7% | ||
| Q1 25 | 3.5% | 18.3% | ||
| Q4 24 | 2.9% | 14.7% | ||
| Q3 24 | 3.1% | 22.7% | ||
| Q2 24 | 3.3% | 20.8% |
每股收益（稀释后）HSICRCL
| Q1 26 | — | $3.48 | ||
| Q4 25 | $0.85 | $2.76 | ||
| Q3 25 | $0.84 | $5.74 | ||
| Q2 25 | $0.70 | $4.41 | ||
| Q1 25 | $0.88 | $2.70 | ||
| Q4 24 | $0.75 | $2.27 | ||
| Q3 24 | $0.78 | $4.21 | ||
| Q2 24 | $0.80 | $3.11 |
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 | $156.0M | $512.0M |
| 总债务越低越好 | $2.3B | $21.1B |
| 股东权益账面价值 | $3.2B | $10.0B |
| 总资产 | $11.2B | $42.0B |
| 负债/权益比越低杠杆越低 | 0.71× | 2.11× |
8季度趋势，按日历期对齐
现金及短期投资HSICRCL
| Q1 26 | — | $512.0M | ||
| Q4 25 | $156.0M | $825.0M | ||
| Q3 25 | $136.0M | $432.0M | ||
| Q2 25 | $145.0M | $735.0M | ||
| Q1 25 | $127.0M | $386.0M | ||
| Q4 24 | $122.0M | $388.0M | ||
| Q3 24 | $126.0M | $418.0M | ||
| Q2 24 | $138.0M | $391.0M |
总债务HSICRCL
| Q1 26 | — | $21.1B | ||
| Q4 25 | $2.3B | $18.2B | ||
| Q3 25 | $2.2B | $17.2B | ||
| Q2 25 | $2.1B | $17.6B | ||
| Q1 25 | $2.0B | $18.0B | ||
| Q4 24 | $1.8B | $18.5B | ||
| Q3 24 | $1.9B | $19.0B | ||
| Q2 24 | $1.9B | $19.8B |
股东权益HSICRCL
| Q1 26 | — | $10.0B | ||
| Q4 25 | $3.2B | $10.0B | ||
| Q3 25 | $3.4B | $10.1B | ||
| Q2 25 | $3.4B | $9.2B | ||
| Q1 25 | $3.3B | $8.0B | ||
| Q4 24 | $3.4B | $7.6B | ||
| Q3 24 | $3.5B | $7.0B | ||
| Q2 24 | $3.5B | $6.0B |
总资产HSICRCL
| Q1 26 | — | $42.0B | ||
| Q4 25 | $11.2B | $41.6B | ||
| Q3 25 | $11.1B | $40.1B | ||
| Q2 25 | $10.9B | $38.5B | ||
| Q1 25 | $10.5B | $37.5B | ||
| Q4 24 | $10.2B | $37.1B | ||
| Q3 24 | $10.6B | $37.1B | ||
| Q2 24 | $10.3B | $37.0B |
负债/权益比HSICRCL
| Q1 26 | — | 2.11× | ||
| Q4 25 | 0.71× | 1.81× | ||
| Q3 25 | 0.64× | 1.70× | ||
| Q2 25 | 0.61× | 1.92× | ||
| Q1 25 | 0.59× | 2.26× | ||
| Q4 24 | 0.54× | 2.44× | ||
| Q3 24 | 0.54× | 2.69× | ||
| Q2 24 | 0.54× | 3.29× |
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 | $381.0M | $1.8B |
| 自由现金流经营现金流 - 资本支出 | $338.0M | — |
| 自由现金流率自由现金流/营收 | 9.8% | — |
| 资本支出强度资本支出/营收 | 1.3% | — |
| 现金转化率经营现金流/净利润 | 3.77× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $573.0M | — |
8季度趋势，按日历期对齐
经营现金流HSICRCL
| Q1 26 | — | $1.8B | ||
| Q4 25 | $381.0M | $1.6B | ||
| Q3 25 | $174.0M | $1.5B | ||
| Q2 25 | $120.0M | $1.7B | ||
| Q1 25 | $37.0M | $1.6B | ||
| Q4 24 | $204.0M | $1.5B | ||
| Q3 24 | $151.0M | $897.0M | ||
| Q2 24 | $296.0M | $1.6B |
自由现金流HSICRCL
| Q1 26 | — | — | ||
| Q4 25 | $338.0M | $116.0M | ||
| Q3 25 | $141.0M | $-989.0M | ||
| Q2 25 | $88.0M | $910.0M | ||
| Q1 25 | $6.0M | $1.2B | ||
| Q4 24 | $168.0M | $915.0M | ||
| Q3 24 | $117.0M | $563.0M | ||
| Q2 24 | $259.0M | $-567.0M |
自由现金流率HSICRCL
| Q1 26 | — | — | ||
| Q4 25 | 9.8% | 2.7% | ||
| Q3 25 | 4.2% | -19.2% | ||
| Q2 25 | 2.7% | 20.1% | ||
| Q1 25 | 0.2% | 30.0% | ||
| Q4 24 | 5.3% | 24.3% | ||
| Q3 24 | 3.7% | 11.5% | ||
| Q2 24 | 8.3% | -13.8% |
资本支出强度HSICRCL
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 35.4% | ||
| Q3 25 | 1.0% | 47.8% | ||
| Q2 25 | 1.0% | 18.4% | ||
| Q1 25 | 1.0% | 10.7% | ||
| Q4 24 | 1.1% | 14.7% | ||
| Q3 24 | 1.1% | 6.8% | ||
| Q2 24 | 1.2% | 52.1% |
现金转化率HSICRCL
| Q1 26 | — | 1.93× | ||
| Q4 25 | 3.77× | 2.16× | ||
| Q3 25 | 1.72× | 0.93× | ||
| Q2 25 | 1.40× | 1.44× | ||
| Q1 25 | 0.34× | 2.23× | ||
| Q4 24 | 2.17× | 2.66× | ||
| Q3 24 | 1.53× | 0.81× | ||
| Q2 24 | 2.85× | 1.84× |
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
HSIC
| Global Dental Merchandise | $1.2B | 35% |
| Global Medical | $1.1B | 31% |
| Global Dental Equipment | $536.0M | 16% |
| Global Specialty Products | $422.0M | 12% |
| Global Technology | $173.0M | 5% |
| Global Value Added Services | $64.0M | 2% |
| Equity Method Investee | $14.0M | 0% |
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
