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ICU MEDICAL INC（ICUI）与摩丁制造（MOD）财务数据对比。点击上方公司名可切换其他公司
摩丁制造的季度营收约是ICU MEDICAL INC的1.5倍（$805.0M vs $540.7M），ICU MEDICAL INC净利率更高（-2.9% vs -5.9%，领先3.0%），摩丁制造同比增速更快（30.5% vs -14.1%），ICU MEDICAL INC自由现金流更多（$36.0M vs $-17.1M），过去两年摩丁制造的营收复合增速更高（15.5% vs -2.3%）
ICU医疗是总部位于美国加利福尼亚州圣克莱门特的医疗科技企业，专注于研发预防血流感染、保护医护人员免受传染病或危险药物侵害的医疗产品，产品线覆盖静脉治疗用品、输液泵、无针血管通路设备、定制输液套装、危险药物密闭处理系统、传感导管以及无针封闭式血液采样系统等。
摩丁制造是1916年成立于美国的热管理企业。创始人亚瑟·B·摩丁获拖拉机Spirex散热器专利后创立公司，曾为福特T型车生产Turbotube散热器，1941年在威斯康星州拉辛建成全球首个车用风洞，二战期间为P-51野马战斗机供应后冷却器。
ICUI vs MOD — 直观对比
营收规模更大
MOD
是对方的1.5倍
$540.7M
营收增速更快
MOD
高出44.7%
-14.1%
净利率更高
ICUI
高出3.0%
-5.9%
自由现金流更多
ICUI
多$53.1M
$-17.1M
两年增速更快
MOD
近两年复合增速
-2.3%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $540.7M | $805.0M |
| 净利润 | $-15.7M | $-47.4M |
| 毛利率 | 37.5% | 23.1% |
| 营业利润率 | 1.0% | 11.1% |
| 净利率 | -2.9% | -5.9% |
| 营收同比 | -14.1% | 30.5% |
| 净利润同比 | 34.0% | -215.6% |
| 每股收益（稀释后） | $-0.63 | $-0.90 |
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ICUIMOD
| Q4 25 | $540.7M | $805.0M | ||
| Q3 25 | $537.0M | $738.9M | ||
| Q2 25 | $548.9M | $682.8M | ||
| Q1 25 | $604.7M | $647.2M | ||
| Q4 24 | $629.8M | $616.8M | ||
| Q3 24 | $589.1M | $658.0M | ||
| Q2 24 | $596.5M | $661.5M | ||
| Q1 24 | $566.7M | $603.5M |
净利润ICUIMOD
| Q4 25 | $-15.7M | $-47.4M | ||
| Q3 25 | $-3.4M | $44.4M | ||
| Q2 25 | $35.3M | $51.2M | ||
| Q1 25 | $-15.5M | $49.6M | ||
| Q4 24 | $-23.8M | $41.0M | ||
| Q3 24 | $-33.0M | $46.1M | ||
| Q2 24 | $-21.4M | $47.3M | ||
| Q1 24 | $-39.5M | $25.8M |
毛利率ICUIMOD
| Q4 25 | 37.5% | 23.1% | ||
| Q3 25 | 37.4% | 22.3% | ||
| Q2 25 | 37.9% | 24.2% | ||
| Q1 25 | 34.7% | 25.6% | ||
| Q4 24 | 36.1% | 24.3% | ||
| Q3 24 | 34.8% | 25.2% | ||
| Q2 24 | 34.8% | 24.6% | ||
| Q1 24 | 32.7% | 22.4% |
营业利润率ICUIMOD
| Q4 25 | 1.0% | 11.1% | ||
| Q3 25 | 2.6% | 9.9% | ||
| Q2 25 | 1.9% | 11.1% | ||
| Q1 25 | 2.1% | 11.5% | ||
| Q4 24 | 6.0% | 9.6% | ||
| Q3 24 | 1.4% | 11.4% | ||
| Q2 24 | 1.3% | 11.2% | ||
| Q1 24 | -1.9% | 7.8% |
净利率ICUIMOD
| Q4 25 | -2.9% | -5.9% | ||
| Q3 25 | -0.6% | 6.0% | ||
| Q2 25 | 6.4% | 7.5% | ||
| Q1 25 | -2.6% | 7.7% | ||
| Q4 24 | -3.8% | 6.6% | ||
| Q3 24 | -5.6% | 7.0% | ||
| Q2 24 | -3.6% | 7.2% | ||
| Q1 24 | -7.0% | 4.3% |
每股收益（稀释后）ICUIMOD
| Q4 25 | $-0.63 | $-0.90 | ||
| Q3 25 | $-0.14 | $0.83 | ||
| Q2 25 | $1.43 | $0.95 | ||
| Q1 25 | $-0.63 | $0.92 | ||
| Q4 24 | $-0.97 | $0.76 | ||
| Q3 24 | $-1.35 | $0.86 | ||
| Q2 24 | $-0.88 | $0.88 | ||
| Q1 24 | $-1.63 | $0.48 |
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 | — | $98.7M |
| 总债务越低越好 | — | $570.7M |
| 股东权益账面价值 | $2.1B | $1.1B |
| 总资产 | $4.1B | $2.5B |
| 负债/权益比越低杠杆越低 | — | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资ICUIMOD
| Q4 25 | — | $98.7M | ||
| Q3 25 | — | $83.8M | ||
| Q2 25 | — | $124.5M | ||
| Q1 25 | — | $71.6M | ||
| Q4 24 | $308.6M | $83.8M | ||
| Q3 24 | $312.5M | $78.6M | ||
| Q2 24 | $302.6M | $72.9M | ||
| Q1 24 | $251.4M | $60.1M |
总债务ICUIMOD
| Q4 25 | — | $570.7M | ||
| Q3 25 | — | $525.8M | ||
| Q2 25 | — | $482.1M | ||
| Q1 25 | — | $296.7M | ||
| Q4 24 | — | $330.0M | ||
| Q3 24 | — | $359.1M | ||
| Q2 24 | — | $405.7M | ||
| Q1 24 | — | $399.9M |
股东权益ICUIMOD
| Q4 25 | $2.1B | $1.1B | ||
| Q3 25 | $2.1B | $1.1B | ||
| Q2 25 | $2.1B | $1.0B | ||
| Q1 25 | $2.0B | $910.2M | ||
| Q4 24 | $2.0B | $855.1M | ||
| Q3 24 | $2.0B | $858.8M | ||
| Q2 24 | $2.0B | $788.4M | ||
| Q1 24 | $2.1B | $747.6M |
总资产ICUIMOD
| Q4 25 | $4.1B | $2.5B | ||
| Q3 25 | $4.1B | $2.4B | ||
| Q2 25 | $4.1B | $2.2B | ||
| Q1 25 | $4.2B | $1.9B | ||
| Q4 24 | $4.2B | $1.8B | ||
| Q3 24 | $4.3B | $1.9B | ||
| Q2 24 | $4.3B | $1.9B | ||
| Q1 24 | $4.3B | $1.9B |
负债/权益比ICUIMOD
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | 0.50× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | — | 0.51× | ||
| Q1 24 | — | 0.53× |
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 | $60.6M | $24.7M |
| 自由现金流经营现金流 - 资本支出 | $36.0M | $-17.1M |
| 自由现金流率自由现金流/营收 | 6.6% | -2.1% |
| 资本支出强度资本支出/营收 | 4.6% | 5.2% |
| 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 | $91.8M | $-20.3M |
8季度趋势，按日历期对齐
经营现金流ICUIMOD
| Q4 25 | $60.6M | $24.7M | ||
| Q3 25 | $56.7M | $1.4M | ||
| Q2 25 | $11.2M | $27.7M | ||
| Q1 25 | $51.3M | $54.8M | ||
| Q4 24 | $40.2M | $60.7M | ||
| Q3 24 | $36.1M | $57.3M | ||
| Q2 24 | $82.0M | $40.5M | ||
| Q1 24 | $45.8M | $39.6M |
自由现金流ICUIMOD
| Q4 25 | $36.0M | $-17.1M | ||
| Q3 25 | $27.6M | $-30.5M | ||
| Q2 25 | $-8.5M | $200.0K | ||
| Q1 25 | $36.7M | $27.1M | ||
| Q4 24 | $16.1M | $44.7M | ||
| Q3 24 | $16.2M | $43.8M | ||
| Q2 24 | $62.5M | $13.7M | ||
| Q1 24 | $29.9M | $-4.3M |
自由现金流率ICUIMOD
| Q4 25 | 6.6% | -2.1% | ||
| Q3 25 | 5.1% | -4.1% | ||
| Q2 25 | -1.5% | 0.0% | ||
| Q1 25 | 6.1% | 4.2% | ||
| Q4 24 | 2.6% | 7.2% | ||
| Q3 24 | 2.7% | 6.7% | ||
| Q2 24 | 10.5% | 2.1% | ||
| Q1 24 | 5.3% | -0.7% |
资本支出强度ICUIMOD
| Q4 25 | 4.6% | 5.2% | ||
| Q3 25 | 5.4% | 4.3% | ||
| Q2 25 | 3.6% | 4.0% | ||
| Q1 25 | 2.4% | 4.3% | ||
| Q4 24 | 3.8% | 2.6% | ||
| Q3 24 | 3.4% | 2.1% | ||
| Q2 24 | 3.3% | 4.1% | ||
| Q1 24 | 2.8% | 7.3% |
现金转化率ICUIMOD
| Q4 25 | — | — | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | 0.32× | 0.54× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | 1.24× | ||
| Q2 24 | — | 0.86× | ||
| Q1 24 | — | 1.53× |
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
ICUI
| Infusion Consumables | $284.7M | 53% |
| Infusion Systems | $176.3M | 33% |
| Vital Care | $79.7M | 15% |
MOD
| Data Centers | $296.9M | 37% |
| Performance Technologies | $266.0M | 33% |
| Hvac Technologies | $107.1M | 13% |
| Air Cooled | $92.4M | 11% |
| Lb White | $25.6M | 3% |
| Climate By Design | $10.2M | 1% |
| Absolutaire | $7.0M | 1% |
