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ICU MEDICAL INC（ICUI）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
思佳讯的季度营收约是ICU MEDICAL INC的1.9倍（$1.0B vs $540.7M），思佳讯净利率更高（7.6% vs -2.9%，领先10.6%），思佳讯同比增速更快（8.6% vs -14.1%），思佳讯自由现金流更多（$339.0M vs $36.0M），过去两年思佳讯的营收复合增速更高（-0.5% 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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
ICUI vs SWKS — 直观对比
营收规模更大
SWKS
是对方的1.9倍
$540.7M
营收增速更快
SWKS
高出22.8%
-14.1%
净利率更高
SWKS
高出10.6%
-2.9%
自由现金流更多
SWKS
多$303.0M
$36.0M
两年增速更快
SWKS
近两年复合增速
-2.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $540.7M | $1.0B |
| 净利润 | $-15.7M | $79.2M |
| 毛利率 | 37.5% | 41.3% |
| 营业利润率 | 1.0% | 10.0% |
| 净利率 | -2.9% | 7.6% |
| 营收同比 | -14.1% | 8.6% |
| 净利润同比 | 34.0% | 15.3% |
| 每股收益（稀释后） | $-0.63 | $0.53 |
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ICUISWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $540.7M | $1.1B | ||
| Q3 25 | $537.0M | — | ||
| Q2 25 | $548.9M | $965.0M | ||
| Q1 25 | $604.7M | $953.2M | ||
| Q4 24 | $629.8M | $1.1B | ||
| Q3 24 | $589.1M | $1.0B | ||
| Q2 24 | $596.5M | $905.5M |
净利润ICUISWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $-15.7M | $141.4M | ||
| Q3 25 | $-3.4M | — | ||
| Q2 25 | $35.3M | $105.0M | ||
| Q1 25 | $-15.5M | $68.7M | ||
| Q4 24 | $-23.8M | $162.0M | ||
| Q3 24 | $-33.0M | $60.5M | ||
| Q2 24 | $-21.4M | $120.9M |
毛利率ICUISWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | 37.5% | 40.7% | ||
| Q3 25 | 37.4% | — | ||
| Q2 25 | 37.9% | 41.6% | ||
| Q1 25 | 34.7% | 41.1% | ||
| Q4 24 | 36.1% | 41.4% | ||
| Q3 24 | 34.8% | 41.9% | ||
| Q2 24 | 34.8% | 40.2% |
营业利润率ICUISWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | 1.0% | 10.1% | ||
| Q3 25 | 2.6% | — | ||
| Q2 25 | 1.9% | 11.5% | ||
| Q1 25 | 2.1% | 10.2% | ||
| Q4 24 | 6.0% | 16.9% | ||
| Q3 24 | 1.4% | 5.8% | ||
| Q2 24 | 1.3% | 14.4% |
净利率ICUISWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | -2.9% | 12.9% | ||
| Q3 25 | -0.6% | — | ||
| Q2 25 | 6.4% | 10.9% | ||
| Q1 25 | -2.6% | 7.2% | ||
| Q4 24 | -3.8% | 15.2% | ||
| Q3 24 | -5.6% | 5.9% | ||
| Q2 24 | -3.6% | 13.4% |
每股收益（稀释后）ICUISWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $-0.63 | $0.95 | ||
| Q3 25 | $-0.14 | — | ||
| Q2 25 | $1.43 | $0.70 | ||
| Q1 25 | $-0.63 | $0.43 | ||
| Q4 24 | $-0.97 | $1.00 | ||
| Q3 24 | $-1.35 | $0.36 | ||
| Q2 24 | $-0.88 | $0.75 |
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 | — | $1.6B |
| 总债务越低越好 | — | $496.6M |
| 股东权益账面价值 | $2.1B | $5.8B |
| 总资产 | $4.1B | $7.9B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资ICUISWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | $308.6M | $1.7B | ||
| Q3 24 | $312.5M | $1.6B | ||
| Q2 24 | $302.6M | $1.3B |
总债务ICUISWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | — | $496.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $496.2M | ||
| Q1 25 | — | $995.1M | ||
| Q4 24 | — | $994.7M | ||
| Q3 24 | — | $994.3M | ||
| Q2 24 | — | $994.0M |
股东权益ICUISWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $2.1B | $5.8B | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | $5.7B | ||
| Q1 25 | $2.0B | $5.9B | ||
| Q4 24 | $2.0B | $6.4B | ||
| Q3 24 | $2.0B | $6.3B | ||
| Q2 24 | $2.0B | $6.3B |
总资产ICUISWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $4.1B | $7.9B | ||
| Q3 25 | $4.1B | — | ||
| Q2 25 | $4.1B | $7.7B | ||
| Q1 25 | $4.2B | $7.9B | ||
| Q4 24 | $4.2B | $8.3B | ||
| Q3 24 | $4.3B | $8.3B | ||
| Q2 24 | $4.3B | $8.2B |
负债/权益比ICUISWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.09× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.16× |
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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $36.0M | $339.0M |
| 自由现金流率自由现金流/营收 | 6.6% | 32.7% |
| 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 | — | 4.99× |
| 过去12个月自由现金流最近4个季度 | $91.8M | $1.1B |
8季度趋势，按日历期对齐
经营现金流ICUISWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $60.6M | $200.0M | ||
| Q3 25 | $56.7M | — | ||
| Q2 25 | $11.2M | $314.2M | ||
| Q1 25 | $51.3M | $409.4M | ||
| Q4 24 | $40.2M | $377.2M | ||
| Q3 24 | $36.1M | $476.1M | ||
| Q2 24 | $82.0M | $273.4M |
自由现金流ICUISWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $36.0M | $144.0M | ||
| Q3 25 | $27.6M | — | ||
| Q2 25 | $-8.5M | $252.7M | ||
| Q1 25 | $36.7M | $370.9M | ||
| Q4 24 | $16.1M | $338.2M | ||
| Q3 24 | $16.2M | $393.3M | ||
| Q2 24 | $62.5M | $249.0M |
自由现金流率ICUISWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 6.6% | 13.1% | ||
| Q3 25 | 5.1% | — | ||
| Q2 25 | -1.5% | 26.2% | ||
| Q1 25 | 6.1% | 38.9% | ||
| Q4 24 | 2.6% | 31.7% | ||
| Q3 24 | 2.7% | 38.4% | ||
| Q2 24 | 10.5% | 27.5% |
资本支出强度ICUISWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 4.6% | 5.1% | ||
| Q3 25 | 5.4% | — | ||
| Q2 25 | 3.6% | 6.4% | ||
| Q1 25 | 2.4% | 4.0% | ||
| Q4 24 | 3.8% | 3.6% | ||
| Q3 24 | 3.4% | 8.1% | ||
| Q2 24 | 3.3% | 2.7% |
现金转化率ICUISWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | — | 1.41× | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.32× | 2.99× | ||
| Q1 25 | — | 5.96× | ||
| Q4 24 | — | 2.33× | ||
| Q3 24 | — | 7.87× | ||
| Q2 24 | — | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
