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ICU MEDICAL INC（ICUI）与PTC Inc.（PTC）财务数据对比。点击上方公司名可切换其他公司
PTC Inc.的季度营收约是ICU MEDICAL INC的1.3倍（$685.8M vs $540.7M），PTC Inc.净利率更高（24.3% vs -2.9%，领先27.2%），PTC Inc.同比增速更快（21.4% vs -14.1%），PTC Inc.自由现金流更多（$267.4M vs $36.0M），过去两年PTC Inc.的营收复合增速更高（6.6% 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。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
ICUI vs PTC — 直观对比
营收规模更大
PTC
是对方的1.3倍
$540.7M
营收增速更快
PTC
高出35.5%
-14.1%
净利率更高
PTC
高出27.2%
-2.9%
自由现金流更多
PTC
多$231.5M
$36.0M
两年增速更快
PTC
近两年复合增速
-2.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $540.7M | $685.8M |
| 净利润 | $-15.7M | $166.5M |
| 毛利率 | 37.5% | 82.8% |
| 营业利润率 | 1.0% | 32.2% |
| 净利率 | -2.9% | 24.3% |
| 营收同比 | -14.1% | 21.4% |
| 净利润同比 | 34.0% | 102.5% |
| 每股收益（稀释后） | $-0.63 | $1.39 |
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ICUIPTC
| Q4 25 | $540.7M | $685.8M | ||
| Q3 25 | $537.0M | $893.8M | ||
| Q2 25 | $548.9M | $643.9M | ||
| Q1 25 | $604.7M | $636.4M | ||
| Q4 24 | $629.8M | $565.1M | ||
| Q3 24 | $589.1M | $626.5M | ||
| Q2 24 | $596.5M | $518.6M | ||
| Q1 24 | $566.7M | $603.1M |
净利润ICUIPTC
| Q4 25 | $-15.7M | $166.5M | ||
| Q3 25 | $-3.4M | $347.8M | ||
| Q2 25 | $35.3M | $141.3M | ||
| Q1 25 | $-15.5M | $162.6M | ||
| Q4 24 | $-23.8M | $82.2M | ||
| Q3 24 | $-33.0M | $126.5M | ||
| Q2 24 | $-21.4M | $69.0M | ||
| Q1 24 | $-39.5M | $114.4M |
毛利率ICUIPTC
| Q4 25 | 37.5% | 82.8% | ||
| Q3 25 | 37.4% | 86.9% | ||
| Q2 25 | 37.9% | 82.9% | ||
| Q1 25 | 34.7% | 83.3% | ||
| Q4 24 | 36.1% | 80.2% | ||
| Q3 24 | 34.8% | 82.0% | ||
| Q2 24 | 34.8% | 78.4% | ||
| Q1 24 | 32.7% | 81.8% |
营业利润率ICUIPTC
| Q4 25 | 1.0% | 32.2% | ||
| Q3 25 | 2.6% | 48.5% | ||
| Q2 25 | 1.9% | 32.6% | ||
| Q1 25 | 2.1% | 35.1% | ||
| Q4 24 | 6.0% | 20.4% | ||
| Q3 24 | 1.4% | 31.0% | ||
| Q2 24 | 1.3% | 18.5% | ||
| Q1 24 | -1.9% | 29.8% |
净利率ICUIPTC
| Q4 25 | -2.9% | 24.3% | ||
| Q3 25 | -0.6% | 38.9% | ||
| Q2 25 | 6.4% | 21.9% | ||
| Q1 25 | -2.6% | 25.6% | ||
| Q4 24 | -3.8% | 14.6% | ||
| Q3 24 | -5.6% | 20.2% | ||
| Q2 24 | -3.6% | 13.3% | ||
| Q1 24 | -7.0% | 19.0% |
每股收益（稀释后）ICUIPTC
| Q4 25 | $-0.63 | $1.39 | ||
| Q3 25 | $-0.14 | $2.88 | ||
| Q2 25 | $1.43 | $1.17 | ||
| Q1 25 | $-0.63 | $1.35 | ||
| Q4 24 | $-0.97 | $0.68 | ||
| Q3 24 | $-1.35 | $1.05 | ||
| Q2 24 | $-0.88 | $0.57 | ||
| Q1 24 | $-1.63 | $0.95 |
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 | — | $209.7M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $2.1B | $3.8B |
| 总资产 | $4.1B | $6.4B |
| 负债/权益比越低杠杆越低 | — | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资ICUIPTC
| Q4 25 | — | $209.7M | ||
| Q3 25 | — | $184.4M | ||
| Q2 25 | — | $199.3M | ||
| Q1 25 | — | $235.2M | ||
| Q4 24 | $308.6M | $196.3M | ||
| Q3 24 | $312.5M | $265.8M | ||
| Q2 24 | $302.6M | $247.7M | ||
| Q1 24 | $251.4M | $249.0M |
总债务ICUIPTC
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.5B |
股东权益ICUIPTC
| Q4 25 | $2.1B | $3.8B | ||
| Q3 25 | $2.1B | $3.8B | ||
| Q2 25 | $2.1B | $3.5B | ||
| Q1 25 | $2.0B | $3.4B | ||
| Q4 24 | $2.0B | $3.2B | ||
| Q3 24 | $2.0B | $3.2B | ||
| Q2 24 | $2.0B | $3.0B | ||
| Q1 24 | $2.1B | $2.9B |
总资产ICUIPTC
| Q4 25 | $4.1B | $6.4B | ||
| Q3 25 | $4.1B | $6.6B | ||
| Q2 25 | $4.1B | $6.2B | ||
| Q1 25 | $4.2B | $6.2B | ||
| Q4 24 | $4.2B | $6.1B | ||
| Q3 24 | $4.3B | $6.4B | ||
| Q2 24 | $4.3B | $6.1B | ||
| Q1 24 | $4.3B | $6.2B |
负债/权益比ICUIPTC
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.43× | ||
| Q1 24 | — | 0.51× |
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 | $269.7M |
| 自由现金流经营现金流 - 资本支出 | $36.0M | $267.4M |
| 自由现金流率自由现金流/营收 | 6.6% | 39.0% |
| 资本支出强度资本支出/营收 | 4.6% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.62× |
| 过去12个月自由现金流最近4个季度 | $91.8M | $888.4M |
8季度趋势，按日历期对齐
经营现金流ICUIPTC
| Q4 25 | $60.6M | $269.7M | ||
| Q3 25 | $56.7M | $104.0M | ||
| Q2 25 | $11.2M | $243.9M | ||
| Q1 25 | $51.3M | $281.3M | ||
| Q4 24 | $40.2M | $238.4M | ||
| Q3 24 | $36.1M | $98.1M | ||
| Q2 24 | $82.0M | $213.8M | ||
| Q1 24 | $45.8M | $250.7M |
自由现金流ICUIPTC
| Q4 25 | $36.0M | $267.4M | ||
| Q3 25 | $27.6M | $100.5M | ||
| Q2 25 | $-8.5M | $242.0M | ||
| Q1 25 | $36.7M | $278.5M | ||
| Q4 24 | $16.1M | $235.7M | ||
| Q3 24 | $16.2M | $93.6M | ||
| Q2 24 | $62.5M | $212.2M | ||
| Q1 24 | $29.9M | $247.1M |
自由现金流率ICUIPTC
| Q4 25 | 6.6% | 39.0% | ||
| Q3 25 | 5.1% | 11.2% | ||
| Q2 25 | -1.5% | 37.6% | ||
| Q1 25 | 6.1% | 43.8% | ||
| Q4 24 | 2.6% | 41.7% | ||
| Q3 24 | 2.7% | 14.9% | ||
| Q2 24 | 10.5% | 40.9% | ||
| Q1 24 | 5.3% | 41.0% |
资本支出强度ICUIPTC
| Q4 25 | 4.6% | 0.3% | ||
| Q3 25 | 5.4% | 0.4% | ||
| Q2 25 | 3.6% | 0.3% | ||
| Q1 25 | 2.4% | 0.4% | ||
| Q4 24 | 3.8% | 0.5% | ||
| Q3 24 | 3.4% | 0.7% | ||
| Q2 24 | 3.3% | 0.3% | ||
| Q1 24 | 2.8% | 0.6% |
现金转化率ICUIPTC
| Q4 25 | — | 1.62× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | 0.32× | 1.73× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | — | 2.90× | ||
| Q3 24 | — | 0.78× | ||
| Q2 24 | — | 3.10× | ||
| Q1 24 | — | 2.19× |
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% |
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
