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ICU MEDICAL INC（ICUI）与RH（RH）财务数据对比。点击上方公司名可切换其他公司
RH的季度营收约是ICU MEDICAL INC的1.6倍（$883.8M vs $540.7M），RH净利率更高（4.1% vs -2.9%，领先7.0%），RH同比增速更快（8.9% vs -14.1%），RH自由现金流更多（$83.0M vs $36.0M），过去两年RH的营收复合增速更高（9.4% 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。
RH是美国高端家居品牌，总部位于加利福尼亚州科尔特马德拉。品牌通过线下零售门店、产品目录和线上渠道发售家居商品，截至2018年8月，在美国和加拿大共运营70家展示馆、18家全系列设计展示馆、3家婴童家居展示馆，另有36家奥莱门店。
ICUI vs RH — 直观对比
营收规模更大
RH
是对方的1.6倍
$540.7M
营收增速更快
RH
高出23.0%
-14.1%
净利率更高
RH
高出7.0%
-2.9%
自由现金流更多
RH
多$47.1M
$36.0M
两年增速更快
RH
近两年复合增速
-2.3%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $540.7M | $883.8M |
| 净利润 | $-15.7M | $36.3M |
| 毛利率 | 37.5% | 44.1% |
| 营业利润率 | 1.0% | 12.0% |
| 净利率 | -2.9% | 4.1% |
| 营收同比 | -14.1% | 8.9% |
| 净利润同比 | 34.0% | 9.3% |
| 每股收益（稀释后） | $-0.63 | $1.83 |
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ICUIRH
| Q4 25 | $540.7M | $883.8M | ||
| Q3 25 | $537.0M | $899.2M | ||
| Q2 25 | $548.9M | $814.0M | ||
| Q1 25 | $604.7M | $812.4M | ||
| Q4 24 | $629.8M | $811.7M | ||
| Q3 24 | $589.1M | $829.7M | ||
| Q2 24 | $596.5M | $727.0M | ||
| Q1 24 | $566.7M | $738.3M |
净利润ICUIRH
| Q4 25 | $-15.7M | $36.3M | ||
| Q3 25 | $-3.4M | $51.7M | ||
| Q2 25 | $35.3M | $8.0M | ||
| Q1 25 | $-15.5M | $13.9M | ||
| Q4 24 | $-23.8M | $33.2M | ||
| Q3 24 | $-33.0M | $29.0M | ||
| Q2 24 | $-21.4M | $-3.6M | ||
| Q1 24 | $-39.5M | $11.4M |
毛利率ICUIRH
| Q4 25 | 37.5% | 44.1% | ||
| Q3 25 | 37.4% | 45.5% | ||
| Q2 25 | 37.9% | 43.7% | ||
| Q1 25 | 34.7% | 44.7% | ||
| Q4 24 | 36.1% | 44.5% | ||
| Q3 24 | 34.8% | 45.2% | ||
| Q2 24 | 34.8% | 43.5% | ||
| Q1 24 | 32.7% | 43.5% |
营业利润率ICUIRH
| Q4 25 | 1.0% | 12.0% | ||
| Q3 25 | 2.6% | 14.3% | ||
| Q2 25 | 1.9% | 6.9% | ||
| Q1 25 | 2.1% | 8.7% | ||
| Q4 24 | 6.0% | 12.5% | ||
| Q3 24 | 1.4% | 11.6% | ||
| Q2 24 | 1.3% | 7.5% | ||
| Q1 24 | -1.9% | 8.7% |
净利率ICUIRH
| Q4 25 | -2.9% | 4.1% | ||
| Q3 25 | -0.6% | 5.8% | ||
| Q2 25 | 6.4% | 1.0% | ||
| Q1 25 | -2.6% | 1.7% | ||
| Q4 24 | -3.8% | 4.1% | ||
| Q3 24 | -5.6% | 3.5% | ||
| Q2 24 | -3.6% | -0.5% | ||
| Q1 24 | -7.0% | 1.5% |
每股收益（稀释后）ICUIRH
| Q4 25 | $-0.63 | $1.83 | ||
| Q3 25 | $-0.14 | $2.62 | ||
| Q2 25 | $1.43 | $0.40 | ||
| Q1 25 | $-0.63 | $0.71 | ||
| Q4 24 | $-0.97 | $1.66 | ||
| Q3 24 | $-1.35 | $1.45 | ||
| Q2 24 | $-0.88 | $-0.20 | ||
| Q1 24 | $-1.63 | $0.91 |
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 | — | $43.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.1B | $3.3M |
| 总资产 | $4.1B | $4.8B |
| 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ICUIRH
| Q4 25 | — | $43.1M | ||
| Q3 25 | — | $34.6M | ||
| Q2 25 | — | $46.1M | ||
| Q1 25 | — | $30.4M | ||
| Q4 24 | $308.6M | $87.0M | ||
| Q3 24 | $312.5M | $78.3M | ||
| Q2 24 | $302.6M | $101.8M | ||
| Q1 24 | $251.4M | $123.7M |
股东权益ICUIRH
| Q4 25 | $2.1B | $3.3M | ||
| Q3 25 | $2.1B | $-40.9M | ||
| Q2 25 | $2.1B | $-110.8M | ||
| Q1 25 | $2.0B | $-163.6M | ||
| Q4 24 | $2.0B | $-183.0M | ||
| Q3 24 | $2.0B | $-234.7M | ||
| Q2 24 | $2.0B | $-289.9M | ||
| Q1 24 | $2.1B | $-297.4M |
总资产ICUIRH
| Q4 25 | $4.1B | $4.8B | ||
| Q3 25 | $4.1B | $4.7B | ||
| Q2 25 | $4.1B | $4.7B | ||
| Q1 25 | $4.2B | $4.6B | ||
| Q4 24 | $4.2B | $4.5B | ||
| Q3 24 | $4.3B | $4.4B | ||
| Q2 24 | $4.3B | $4.2B | ||
| Q1 24 | $4.3B | $4.1B |
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 | $131.9M |
| 自由现金流经营现金流 - 资本支出 | $36.0M | $83.0M |
| 自由现金流率自由现金流/营收 | 6.6% | 9.4% |
| 资本支出强度资本支出/营收 | 4.6% | 5.5% |
| 现金转化率经营现金流/净利润 | — | 3.64× |
| 过去12个月自由现金流最近4个季度 | $91.8M | $128.1M |
8季度趋势，按日历期对齐
经营现金流ICUIRH
| Q4 25 | $60.6M | $131.9M | ||
| Q3 25 | $56.7M | $137.7M | ||
| Q2 25 | $11.2M | $86.6M | ||
| Q1 25 | $51.3M | $-18.8M | ||
| Q4 24 | $40.2M | $-31.4M | ||
| Q3 24 | $36.1M | $11.2M | ||
| Q2 24 | $82.0M | $56.1M | ||
| Q1 24 | $45.8M | $-114.0M |
自由现金流ICUIRH
| Q4 25 | $36.0M | $83.0M | ||
| Q3 25 | $27.6M | $80.7M | ||
| Q2 25 | $-8.5M | $34.1M | ||
| Q1 25 | $36.7M | $-69.7M | ||
| Q4 24 | $16.1M | $-96.0M | ||
| Q3 24 | $16.2M | $-37.9M | ||
| Q2 24 | $62.5M | $-10.1M | ||
| Q1 24 | $29.9M | $-251.5M |
自由现金流率ICUIRH
| Q4 25 | 6.6% | 9.4% | ||
| Q3 25 | 5.1% | 9.0% | ||
| Q2 25 | -1.5% | 4.2% | ||
| Q1 25 | 6.1% | -8.6% | ||
| Q4 24 | 2.6% | -11.8% | ||
| Q3 24 | 2.7% | -4.6% | ||
| Q2 24 | 10.5% | -1.4% | ||
| Q1 24 | 5.3% | -34.1% |
资本支出强度ICUIRH
| Q4 25 | 4.6% | 5.5% | ||
| Q3 25 | 5.4% | 6.3% | ||
| Q2 25 | 3.6% | 6.5% | ||
| Q1 25 | 2.4% | 6.3% | ||
| Q4 24 | 3.8% | 8.0% | ||
| Q3 24 | 3.4% | 5.9% | ||
| Q2 24 | 3.3% | 9.1% | ||
| Q1 24 | 2.8% | 18.6% |
现金转化率ICUIRH
| Q4 25 | — | 3.64× | ||
| Q3 25 | — | 2.66× | ||
| Q2 25 | 0.32× | 10.78× | ||
| Q1 25 | — | -1.35× | ||
| Q4 24 | — | -0.95× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -10.01× |
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% |
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
