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汉瑞祥（HSIC）与Block, Inc.（XYZ）财务数据对比。点击上方公司名可切换其他公司
Block, Inc.的季度营收约是汉瑞祥的1.8倍（$6.3B vs $3.4B），汉瑞祥净利率更高（2.9% vs 1.9%，领先1.1%），汉瑞祥同比增速更快（7.7% vs 3.6%），Block, Inc.自由现金流更多（$579.8M vs $338.0M），过去两年汉瑞祥的营收复合增速更高（4.1% vs 2.4%）
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。
Block, Inc.是美国科技企业，面向消费者与商户提供金融服务，由杰克·多尔西于2009年创立，是美国销售点系统领域的市场领导者。截至2024年，平台服务5700万用户及400万商户，年支付处理规模达2410亿美元。
HSIC vs XYZ — 直观对比
营收规模更大
XYZ
是对方的1.8倍
$3.4B
营收增速更快
HSIC
高出4.1%
3.6%
净利率更高
HSIC
高出1.1%
1.9%
自由现金流更多
XYZ
多$241.8M
$338.0M
两年增速更快
HSIC
近两年复合增速
2.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $6.3B |
| 净利润 | $101.0M | $115.8M |
| 毛利率 | 30.9% | 45.9% |
| 营业利润率 | 4.7% | 7.8% |
| 净利率 | 2.9% | 1.9% |
| 营收同比 | 7.7% | 3.6% |
| 净利润同比 | 7.4% | -94.1% |
| 每股收益（稀释后） | $0.85 | $0.19 |
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HSICXYZ
| Q4 25 | $3.4B | $6.3B | ||
| Q3 25 | $3.3B | $6.1B | ||
| Q2 25 | $3.2B | $6.1B | ||
| Q1 25 | $3.2B | $5.8B | ||
| Q4 24 | $3.2B | $6.0B | ||
| Q3 24 | $3.2B | $6.0B | ||
| Q2 24 | $3.1B | $6.2B | ||
| Q1 24 | $3.2B | $6.0B |
净利润HSICXYZ
| Q4 25 | $101.0M | $115.8M | ||
| Q3 25 | $101.0M | $461.5M | ||
| Q2 25 | $86.0M | $538.5M | ||
| Q1 25 | $110.0M | $189.9M | ||
| Q4 24 | $94.0M | $1.9B | ||
| Q3 24 | $99.0M | $283.8M | ||
| Q2 24 | $104.0M | $195.3M | ||
| Q1 24 | $93.0M | $472.0M |
毛利率HSICXYZ
| Q4 25 | 30.9% | 45.9% | ||
| Q3 25 | 30.7% | 43.5% | ||
| Q2 25 | 31.4% | 41.9% | ||
| Q1 25 | 31.6% | 39.7% | ||
| Q4 24 | 31.1% | 38.3% | ||
| Q3 24 | 31.3% | 37.6% | ||
| Q2 24 | 32.5% | 36.3% | ||
| Q1 24 | 31.9% | 35.2% |
营业利润率HSICXYZ
| Q4 25 | 4.7% | 7.8% | ||
| Q3 25 | 4.9% | 6.7% | ||
| Q2 25 | 4.7% | 8.0% | ||
| Q1 25 | 5.5% | 5.7% | ||
| Q4 24 | 4.9% | 0.2% | ||
| Q3 24 | 4.9% | 5.4% | ||
| Q2 24 | 5.1% | 5.0% | ||
| Q1 24 | 4.7% | 4.2% |
净利率HSICXYZ
| Q4 25 | 2.9% | 1.9% | ||
| Q3 25 | 3.0% | 7.5% | ||
| Q2 25 | 2.7% | 8.9% | ||
| Q1 25 | 3.5% | 3.3% | ||
| Q4 24 | 2.9% | 32.3% | ||
| Q3 24 | 3.1% | 4.7% | ||
| Q2 24 | 3.3% | 3.2% | ||
| Q1 24 | 2.9% | 7.9% |
每股收益（稀释后）HSICXYZ
| Q4 25 | $0.85 | $0.19 | ||
| Q3 25 | $0.84 | $0.74 | ||
| Q2 25 | $0.70 | $0.87 | ||
| Q1 25 | $0.88 | $0.30 | ||
| Q4 24 | $0.75 | $3.06 | ||
| Q3 24 | $0.78 | $0.45 | ||
| Q2 24 | $0.80 | $0.31 | ||
| Q1 24 | $0.72 | $0.74 |
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 | $6.6B |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $3.2B | $22.2B |
| 总资产 | $11.2B | $39.5B |
| 负债/权益比越低杠杆越低 | 0.71× | — |
8季度趋势，按日历期对齐
现金及短期投资HSICXYZ
| Q4 25 | $156.0M | $6.6B | ||
| Q3 25 | $136.0M | $8.3B | ||
| Q2 25 | $145.0M | $6.4B | ||
| Q1 25 | $127.0M | $7.1B | ||
| Q4 24 | $122.0M | $8.1B | ||
| Q3 24 | $126.0M | $8.3B | ||
| Q2 24 | $138.0M | $7.8B | ||
| Q1 24 | $159.0M | $5.8B |
总债务HSICXYZ
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.2B | $7.3B | ||
| Q2 25 | $2.1B | $5.1B | ||
| Q1 25 | $2.0B | $5.1B | ||
| Q4 24 | $1.8B | $6.1B | ||
| Q3 24 | $1.9B | $6.1B | ||
| Q2 24 | $1.9B | $6.1B | ||
| Q1 24 | $2.0B | $4.1B |
股东权益HSICXYZ
| Q4 25 | $3.2B | $22.2B | ||
| Q3 25 | $3.4B | $22.5B | ||
| Q2 25 | $3.4B | $22.2B | ||
| Q1 25 | $3.3B | $21.5B | ||
| Q4 24 | $3.4B | $21.3B | ||
| Q3 24 | $3.5B | $19.9B | ||
| Q2 24 | $3.5B | $19.3B | ||
| Q1 24 | $3.6B | $19.0B |
总资产HSICXYZ
| Q4 25 | $11.2B | $39.5B | ||
| Q3 25 | $11.1B | $39.2B | ||
| Q2 25 | $10.9B | $36.9B | ||
| Q1 25 | $10.5B | $36.4B | ||
| Q4 24 | $10.2B | $36.8B | ||
| Q3 24 | $10.6B | $36.4B | ||
| Q2 24 | $10.3B | $37.5B | ||
| Q1 24 | $10.1B | $35.6B |
负债/权益比HSICXYZ
| Q4 25 | 0.71× | — | ||
| Q3 25 | 0.64× | 0.32× | ||
| Q2 25 | 0.61× | 0.23× | ||
| Q1 25 | 0.59× | 0.24× | ||
| Q4 24 | 0.54× | 0.29× | ||
| Q3 24 | 0.54× | 0.31× | ||
| Q2 24 | 0.54× | 0.32× | ||
| Q1 24 | 0.56× | 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 | $381.0M | $621.0M |
| 自由现金流经营现金流 - 资本支出 | $338.0M | $579.8M |
| 自由现金流率自由现金流/营收 | 9.8% | 9.3% |
| 资本支出强度资本支出/营收 | 1.3% | 0.7% |
| 现金转化率经营现金流/净利润 | 3.77× | 5.36× |
| 过去12个月自由现金流最近4个季度 | $573.0M | $2.4B |
8季度趋势，按日历期对齐
经营现金流HSICXYZ
| Q4 25 | $381.0M | $621.0M | ||
| Q3 25 | $174.0M | $1.5B | ||
| Q2 25 | $120.0M | $374.3M | ||
| Q1 25 | $37.0M | $133.3M | ||
| Q4 24 | $204.0M | $13.8M | ||
| Q3 24 | $151.0M | $684.8M | ||
| Q2 24 | $296.0M | $519.4M | ||
| Q1 24 | $197.0M | $489.4M |
自由现金流HSICXYZ
| Q4 25 | $338.0M | $579.8M | ||
| Q3 25 | $141.0M | $1.4B | ||
| Q2 25 | $88.0M | $343.0M | ||
| Q1 25 | $6.0M | $101.5M | ||
| Q4 24 | $168.0M | $-13.2M | ||
| Q3 24 | $117.0M | $628.2M | ||
| Q2 24 | $259.0M | $481.0M | ||
| Q1 24 | $156.0M | $457.4M |
自由现金流率HSICXYZ
| Q4 25 | 9.8% | 9.3% | ||
| Q3 25 | 4.2% | 22.9% | ||
| Q2 25 | 2.7% | 5.7% | ||
| Q1 25 | 0.2% | 1.8% | ||
| Q4 24 | 5.3% | -0.2% | ||
| Q3 24 | 3.7% | 10.5% | ||
| Q2 24 | 8.3% | 7.8% | ||
| Q1 24 | 4.9% | 7.7% |
资本支出强度HSICXYZ
| Q4 25 | 1.3% | 0.7% | ||
| Q3 25 | 1.0% | 0.8% | ||
| Q2 25 | 1.0% | 0.5% | ||
| Q1 25 | 1.0% | 0.6% | ||
| Q4 24 | 1.1% | 0.4% | ||
| Q3 24 | 1.1% | 0.9% | ||
| Q2 24 | 1.2% | 0.6% | ||
| Q1 24 | 1.3% | 0.5% |
现金转化率HSICXYZ
| Q4 25 | 3.77× | 5.36× | ||
| Q3 25 | 1.72× | 3.14× | ||
| Q2 25 | 1.40× | 0.70× | ||
| Q1 25 | 0.34× | 0.70× | ||
| Q4 24 | 2.17× | 0.01× | ||
| Q3 24 | 1.53× | 2.41× | ||
| Q2 24 | 2.85× | 2.66× | ||
| Q1 24 | 2.12× | 1.04× |
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% |
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
