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汉瑞祥（HSIC）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是汉瑞祥的1.3倍（$4.4B vs $3.4B），标普全球净利率更高（26.8% vs 2.9%，领先23.9%），标普全球同比增速更快（191.7% vs 7.7%），汉瑞祥自由现金流更多（$338.0M vs $-1.5B），过去两年标普全球的营收复合增速更高（77.3% 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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
HSIC vs VG — 直观对比
营收规模更大
VG
是对方的1.3倍
$3.4B
营收增速更快
VG
高出184.0%
7.7%
净利率更高
VG
高出23.9%
2.9%
自由现金流更多
HSIC
多$1.9B
$-1.5B
两年增速更快
VG
近两年复合增速
4.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $4.4B |
| 净利润 | $101.0M | $1.2B |
| 毛利率 | 30.9% | — |
| 营业利润率 | 4.7% | 38.7% |
| 净利率 | 2.9% | 26.8% |
| 营收同比 | 7.7% | 191.7% |
| 净利润同比 | 7.4% | 20.3% |
| 每股收益（稀释后） | $0.85 | $0.41 |
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HSICVG
| Q4 25 | $3.4B | $4.4B | ||
| Q3 25 | $3.3B | $3.3B | ||
| Q2 25 | $3.2B | $3.1B | ||
| Q1 25 | $3.2B | $2.9B | ||
| Q4 24 | $3.2B | $1.5B | ||
| Q3 24 | $3.2B | $926.0M | ||
| Q2 24 | $3.1B | $1.1B | ||
| Q1 24 | $3.2B | $1.4B |
净利润HSICVG
| Q4 25 | $101.0M | $1.2B | ||
| Q3 25 | $101.0M | $550.0M | ||
| Q2 25 | $86.0M | $475.0M | ||
| Q1 25 | $110.0M | $517.0M | ||
| Q4 24 | $94.0M | $990.0M | ||
| Q3 24 | $99.0M | $-294.0M | ||
| Q2 24 | $104.0M | $352.0M | ||
| Q1 24 | $93.0M | $698.0M |
毛利率HSICVG
| Q4 25 | 30.9% | — | ||
| Q3 25 | 30.7% | — | ||
| Q2 25 | 31.4% | — | ||
| Q1 25 | 31.6% | — | ||
| Q4 24 | 31.1% | — | ||
| Q3 24 | 31.3% | — | ||
| Q2 24 | 32.5% | — | ||
| Q1 24 | 31.9% | — |
营业利润率HSICVG
| Q4 25 | 4.7% | 38.7% | ||
| Q3 25 | 4.9% | 39.7% | ||
| Q2 25 | 4.7% | 33.5% | ||
| Q1 25 | 5.5% | 37.3% | ||
| Q4 24 | 4.9% | 39.0% | ||
| Q3 24 | 4.9% | 20.4% | ||
| Q2 24 | 5.1% | 32.8% | ||
| Q1 24 | 4.7% | 43.6% |
净利率HSICVG
| Q4 25 | 2.9% | 26.8% | ||
| Q3 25 | 3.0% | 16.5% | ||
| Q2 25 | 2.7% | 15.3% | ||
| Q1 25 | 3.5% | 17.9% | ||
| Q4 24 | 2.9% | 65.0% | ||
| Q3 24 | 3.1% | -31.7% | ||
| Q2 24 | 3.3% | 31.8% | ||
| Q1 24 | 2.9% | 49.4% |
每股收益（稀释后）HSICVG
| Q4 25 | $0.85 | $0.41 | ||
| Q3 25 | $0.84 | $0.16 | ||
| Q2 25 | $0.70 | $0.14 | ||
| Q1 25 | $0.88 | $0.15 | ||
| Q4 24 | $0.75 | $0.35 | ||
| Q3 24 | $0.78 | $-0.15 | ||
| Q2 24 | $0.80 | $0.12 | ||
| Q1 24 | $0.72 | $0.25 |
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 | $2.4B |
| 总债务越低越好 | $2.3B | $34.2B |
| 股东权益账面价值 | $3.2B | $6.7B |
| 总资产 | $11.2B | $53.4B |
| 负债/权益比越低杠杆越低 | 0.71× | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资HSICVG
| Q4 25 | $156.0M | $2.4B | ||
| Q3 25 | $136.0M | $1.9B | ||
| Q2 25 | $145.0M | $2.2B | ||
| Q1 25 | $127.0M | $3.6B | ||
| Q4 24 | $122.0M | $3.6B | ||
| Q3 24 | $126.0M | — | ||
| Q2 24 | $138.0M | — | ||
| Q1 24 | $159.0M | — |
总债务HSICVG
| Q4 25 | $2.3B | $34.2B | ||
| Q3 25 | $2.2B | $32.6B | ||
| Q2 25 | $2.1B | $30.0B | ||
| Q1 25 | $2.0B | $29.3B | ||
| Q4 24 | $1.8B | $29.3B | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $2.0B | — |
股东权益HSICVG
| Q4 25 | $3.2B | $6.7B | ||
| Q3 25 | $3.4B | $5.7B | ||
| Q2 25 | $3.4B | $5.3B | ||
| Q1 25 | $3.3B | $4.9B | ||
| Q4 24 | $3.4B | $2.9B | ||
| Q3 24 | $3.5B | — | ||
| Q2 24 | $3.5B | — | ||
| Q1 24 | $3.6B | — |
总资产HSICVG
| Q4 25 | $11.2B | $53.4B | ||
| Q3 25 | $11.1B | $50.1B | ||
| Q2 25 | $10.9B | $46.5B | ||
| Q1 25 | $10.5B | $45.1B | ||
| Q4 24 | $10.2B | $43.5B | ||
| Q3 24 | $10.6B | — | ||
| Q2 24 | $10.3B | — | ||
| Q1 24 | $10.1B | — |
负债/权益比HSICVG
| Q4 25 | 0.71× | 5.07× | ||
| Q3 25 | 0.64× | 5.73× | ||
| Q2 25 | 0.61× | 5.69× | ||
| Q1 25 | 0.59× | 6.01× | ||
| Q4 24 | 0.54× | 10.11× | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.54× | — | ||
| Q1 24 | 0.56× | — |
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 | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $338.0M | $-1.5B |
| 自由现金流率自由现金流/营收 | 9.8% | -34.1% |
| 资本支出强度资本支出/营收 | 1.3% | 81.6% |
| 现金转化率经营现金流/净利润 | 3.77× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $573.0M | $-6.8B |
8季度趋势，按日历期对齐
经营现金流HSICVG
| Q4 25 | $381.0M | $2.1B | ||
| Q3 25 | $174.0M | $1.9B | ||
| Q2 25 | $120.0M | $1.5B | ||
| Q1 25 | $37.0M | $1.1B | ||
| Q4 24 | $204.0M | — | ||
| Q3 24 | $151.0M | — | ||
| Q2 24 | $296.0M | — | ||
| Q1 24 | $197.0M | $638.0M |
自由现金流HSICVG
| Q4 25 | $338.0M | $-1.5B | ||
| Q3 25 | $141.0M | $-1.4B | ||
| Q2 25 | $88.0M | $-1.5B | ||
| Q1 25 | $6.0M | $-2.4B | ||
| Q4 24 | $168.0M | — | ||
| Q3 24 | $117.0M | — | ||
| Q2 24 | $259.0M | — | ||
| Q1 24 | $156.0M | $-2.4B |
自由现金流率HSICVG
| Q4 25 | 9.8% | -34.1% | ||
| Q3 25 | 4.2% | -42.4% | ||
| Q2 25 | 2.7% | -49.1% | ||
| Q1 25 | 0.2% | -81.3% | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 8.3% | — | ||
| Q1 24 | 4.9% | -167.3% |
资本支出强度HSICVG
| Q4 25 | 1.3% | 81.6% | ||
| Q3 25 | 1.0% | 98.9% | ||
| Q2 25 | 1.0% | 96.1% | ||
| Q1 25 | 1.0% | 119.8% | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 1.2% | — | ||
| Q1 24 | 1.3% | 212.4% |
现金转化率HSICVG
| Q4 25 | 3.77× | 1.77× | ||
| Q3 25 | 1.72× | 3.42× | ||
| Q2 25 | 1.40× | 3.07× | ||
| Q1 25 | 0.34× | 2.15× | ||
| Q4 24 | 2.17× | — | ||
| Q3 24 | 1.53× | — | ||
| Q2 24 | 2.85× | — | ||
| Q1 24 | 2.12× | 0.91× |
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% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
