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ICU MEDICAL INC（ICUI）与EPLUS INC（PLUS）财务数据对比。点击上方公司名可切换其他公司
EPLUS INC的季度营收约是ICU MEDICAL INC的1.1倍（$614.8M vs $540.7M），EPLUS INC净利率更高（5.7% vs -2.9%，领先8.6%），EPLUS INC同比增速更快（20.3% vs -14.1%），过去两年EPLUS INC的营收复合增速更高（2.3% 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。
ePlus Inc.是美国的科技咨询解决方案提供商，业务覆盖网络安全、云计算、网络架构、协作办公、人工智能及前沿技术领域，为超5000家客户提供定制化解决方案、专业咨询与托管服务，助力企业实现数字化转型与技术升级。
ICUI vs PLUS — 直观对比
营收规模更大
PLUS
是对方的1.1倍
$540.7M
营收增速更快
PLUS
高出34.5%
-14.1%
净利率更高
PLUS
高出8.6%
-2.9%
两年增速更快
PLUS
近两年复合增速
-2.3%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $540.7M | $614.8M |
| 净利润 | $-15.7M | $35.1M |
| 毛利率 | 37.5% | 25.8% |
| 营业利润率 | 1.0% | 7.1% |
| 净利率 | -2.9% | 5.7% |
| 营收同比 | -14.1% | 20.3% |
| 净利润同比 | 34.0% | 45.2% |
| 每股收益（稀释后） | $-0.63 | $1.33 |
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ICUIPLUS
| Q4 25 | $540.7M | $614.8M | ||
| Q3 25 | $537.0M | $608.8M | ||
| Q2 25 | $548.9M | $637.3M | ||
| Q1 25 | $604.7M | — | ||
| Q4 24 | $629.8M | $493.2M | ||
| Q3 24 | $589.1M | $493.4M | ||
| Q2 24 | $596.5M | $535.7M | ||
| Q1 24 | $566.7M | — |
净利润ICUIPLUS
| Q4 25 | $-15.7M | $35.1M | ||
| Q3 25 | $-3.4M | $34.9M | ||
| Q2 25 | $35.3M | $37.7M | ||
| Q1 25 | $-15.5M | — | ||
| Q4 24 | $-23.8M | $24.1M | ||
| Q3 24 | $-33.0M | $31.3M | ||
| Q2 24 | $-21.4M | $27.3M | ||
| Q1 24 | $-39.5M | — |
毛利率ICUIPLUS
| Q4 25 | 37.5% | 25.8% | ||
| Q3 25 | 37.4% | 26.6% | ||
| Q2 25 | 37.9% | 23.3% | ||
| Q1 25 | 34.7% | — | ||
| Q4 24 | 36.1% | 25.4% | ||
| Q3 24 | 34.8% | 25.8% | ||
| Q2 24 | 34.8% | 23.7% | ||
| Q1 24 | 32.7% | — |
营业利润率ICUIPLUS
| Q4 25 | 1.0% | 7.1% | ||
| Q3 25 | 2.6% | 8.0% | ||
| Q2 25 | 1.9% | 5.7% | ||
| Q1 25 | 2.1% | — | ||
| Q4 24 | 6.0% | 3.3% | ||
| Q3 24 | 1.4% | 5.5% | ||
| Q2 24 | 1.3% | 5.9% | ||
| Q1 24 | -1.9% | — |
净利率ICUIPLUS
| Q4 25 | -2.9% | 5.7% | ||
| Q3 25 | -0.6% | 5.7% | ||
| Q2 25 | 6.4% | 5.9% | ||
| Q1 25 | -2.6% | — | ||
| Q4 24 | -3.8% | 4.9% | ||
| Q3 24 | -5.6% | 6.3% | ||
| Q2 24 | -3.6% | 5.1% | ||
| Q1 24 | -7.0% | — |
每股收益（稀释后）ICUIPLUS
| Q4 25 | $-0.63 | $1.33 | ||
| Q3 25 | $-0.14 | $1.32 | ||
| Q2 25 | $1.43 | $1.43 | ||
| Q1 25 | $-0.63 | — | ||
| Q4 24 | $-0.97 | $0.91 | ||
| Q3 24 | $-1.35 | $1.17 | ||
| Q2 24 | $-0.88 | $1.02 | ||
| Q1 24 | $-1.63 | — |
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 | — | $326.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.1B | $1.1B |
| 总资产 | $4.1B | $1.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ICUIPLUS
| Q4 25 | — | $326.3M | ||
| Q3 25 | — | $402.2M | ||
| Q2 25 | — | $480.2M | ||
| Q1 25 | — | — | ||
| Q4 24 | $308.6M | $253.1M | ||
| Q3 24 | $312.5M | $187.5M | ||
| Q2 24 | $302.6M | $349.9M | ||
| Q1 24 | $251.4M | — |
股东权益ICUIPLUS
| Q4 25 | $2.1B | $1.1B | ||
| Q3 25 | $2.1B | $1.0B | ||
| Q2 25 | $2.1B | $1.0B | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | $962.3M | ||
| Q3 24 | $2.0B | $947.0M | ||
| Q2 24 | $2.0B | $921.9M | ||
| Q1 24 | $2.1B | — |
总资产ICUIPLUS
| Q4 25 | $4.1B | $1.8B | ||
| Q3 25 | $4.1B | $1.8B | ||
| Q2 25 | $4.1B | $1.8B | ||
| Q1 25 | $4.2B | — | ||
| Q4 24 | $4.2B | $1.8B | ||
| Q3 24 | $4.3B | $1.7B | ||
| Q2 24 | $4.3B | $1.7B | ||
| Q1 24 | $4.3B | — |
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 | $-87.4M |
| 自由现金流经营现金流 - 资本支出 | $36.0M | — |
| 自由现金流率自由现金流/营收 | 6.6% | — |
| 资本支出强度资本支出/营收 | 4.6% | — |
| 现金转化率经营现金流/净利润 | — | -2.49× |
| 过去12个月自由现金流最近4个季度 | $91.8M | — |
8季度趋势，按日历期对齐
经营现金流ICUIPLUS
| Q4 25 | $60.6M | $-87.4M | ||
| Q3 25 | $56.7M | $-34.8M | ||
| Q2 25 | $11.2M | $-99.0M | ||
| Q1 25 | $51.3M | — | ||
| Q4 24 | $40.2M | $65.7M | ||
| Q3 24 | $36.1M | $-21.6M | ||
| Q2 24 | $82.0M | $97.1M | ||
| Q1 24 | $45.8M | — |
自由现金流ICUIPLUS
| Q4 25 | $36.0M | — | ||
| Q3 25 | $27.6M | — | ||
| Q2 25 | $-8.5M | — | ||
| Q1 25 | $36.7M | — | ||
| Q4 24 | $16.1M | — | ||
| Q3 24 | $16.2M | — | ||
| Q2 24 | $62.5M | — | ||
| Q1 24 | $29.9M | — |
自由现金流率ICUIPLUS
| Q4 25 | 6.6% | — | ||
| Q3 25 | 5.1% | — | ||
| Q2 25 | -1.5% | — | ||
| Q1 25 | 6.1% | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 2.7% | — | ||
| Q2 24 | 10.5% | — | ||
| Q1 24 | 5.3% | — |
资本支出强度ICUIPLUS
| Q4 25 | 4.6% | — | ||
| Q3 25 | 5.4% | — | ||
| Q2 25 | 3.6% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | 3.3% | — | ||
| Q1 24 | 2.8% | — |
现金转化率ICUIPLUS
| Q4 25 | — | -2.49× | ||
| Q3 25 | — | -1.00× | ||
| Q2 25 | 0.32× | -2.63× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.72× | ||
| Q3 24 | — | -0.69× | ||
| Q2 24 | — | 3.55× | ||
| Q1 24 | — | — |
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% |
PLUS
| All Others Customer End Market | $107.0M | 17% |
| Technology Customer End Market | $89.4M | 15% |
| Health Care Customer End Market | $81.5M | 13% |
| Financial Services Customer End Market | $66.1M | 11% |
| Professional Services Reporting Unit | $64.1M | 10% |
| Security | $61.1M | 10% |
| State And Local Government And Educational Institutions | $59.9M | 10% |
| Managed Services Reporting Unit | $48.8M | 8% |
| Other Product | $21.1M | 3% |
| Collaboration | $13.4M | 2% |
