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ICU MEDICAL INC（ICUI）与温德姆酒店及度假村集团（WH）财务数据对比。点击上方公司名可切换其他公司
ICU MEDICAL INC的季度营收约是温德姆酒店及度假村集团的1.6倍（$540.7M vs $334.0M），ICU MEDICAL INC净利率更高（-2.9% vs -18.0%，领先15.1%），ICU MEDICAL INC同比增速更快（-14.1% vs -76.3%），温德姆酒店及度假村集团自由现金流更多（$168.0M vs $36.0M），过去两年ICU MEDICAL INC的营收复合增速更高（-2.3% vs -4.6%）
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。
温德姆酒店及度假村集团是总部位于美国新泽西州帕西帕尼的酒店企业，自称是全球规模最大的酒店特许经营商，在全球范围内共设有9100家门店，旗下拥有多个酒店及度假住宿品牌，服务全球各地的出行旅客。
ICUI vs WH — 直观对比
营收规模更大
ICUI
是对方的1.6倍
$334.0M
营收增速更快
ICUI
高出62.1%
-76.3%
净利率更高
ICUI
高出15.1%
-18.0%
自由现金流更多
WH
多$132.0M
$36.0M
两年增速更快
ICUI
近两年复合增速
-4.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $540.7M | $334.0M |
| 净利润 | $-15.7M | $-60.0M |
| 毛利率 | 37.5% | — |
| 营业利润率 | 1.0% | — |
| 净利率 | -2.9% | -18.0% |
| 营收同比 | -14.1% | -76.3% |
| 净利润同比 | 34.0% | -170.6% |
| 每股收益（稀释后） | $-0.63 | $-0.80 |
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ICUIWH
| Q1 26 | — | $334.0M | ||
| Q4 25 | $540.7M | $334.0M | ||
| Q3 25 | $537.0M | $382.0M | ||
| Q2 25 | $548.9M | $397.0M | ||
| Q1 25 | $604.7M | $316.0M | ||
| Q4 24 | $629.8M | $336.0M | ||
| Q3 24 | $589.1M | $396.0M | ||
| Q2 24 | $596.5M | $367.0M |
净利润ICUIWH
| Q1 26 | — | $-60.0M | ||
| Q4 25 | $-15.7M | $-60.0M | ||
| Q3 25 | $-3.4M | $105.0M | ||
| Q2 25 | $35.3M | $87.0M | ||
| Q1 25 | $-15.5M | $61.0M | ||
| Q4 24 | $-23.8M | $85.0M | ||
| Q3 24 | $-33.0M | $102.0M | ||
| Q2 24 | $-21.4M | $86.0M |
毛利率ICUIWH
| Q1 26 | — | — | ||
| Q4 25 | 37.5% | — | ||
| Q3 25 | 37.4% | — | ||
| Q2 25 | 37.9% | — | ||
| Q1 25 | 34.7% | — | ||
| Q4 24 | 36.1% | — | ||
| Q3 24 | 34.8% | — | ||
| Q2 24 | 34.8% | — |
营业利润率ICUIWH
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | -11.4% | ||
| Q3 25 | 2.6% | 46.6% | ||
| Q2 25 | 1.9% | 37.8% | ||
| Q1 25 | 2.1% | 35.4% | ||
| Q4 24 | 6.0% | 38.4% | ||
| Q3 24 | 1.4% | 43.2% | ||
| Q2 24 | 1.3% | 39.5% |
净利率ICUIWH
| Q1 26 | — | -18.0% | ||
| Q4 25 | -2.9% | -18.0% | ||
| Q3 25 | -0.6% | 27.5% | ||
| Q2 25 | 6.4% | 21.9% | ||
| Q1 25 | -2.6% | 19.3% | ||
| Q4 24 | -3.8% | 25.3% | ||
| Q3 24 | -5.6% | 25.8% | ||
| Q2 24 | -3.6% | 23.4% |
每股收益（稀释后）ICUIWH
| Q1 26 | — | $-0.80 | ||
| Q4 25 | $-0.63 | $-0.77 | ||
| Q3 25 | $-0.14 | $1.36 | ||
| Q2 25 | $1.43 | $1.13 | ||
| Q1 25 | $-0.63 | $0.78 | ||
| Q4 24 | $-0.97 | $1.06 | ||
| Q3 24 | $-1.35 | $1.29 | ||
| Q2 24 | $-0.88 | $1.07 |
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 | — | $64.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.1B | $468.0M |
| 总资产 | $4.1B | $4.2B |
| 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ICUIWH
| Q1 26 | — | $64.0M | ||
| Q4 25 | — | $64.0M | ||
| Q3 25 | — | $70.0M | ||
| Q2 25 | — | $50.0M | ||
| Q1 25 | — | $48.0M | ||
| Q4 24 | $308.6M | $103.0M | ||
| Q3 24 | $312.5M | $72.0M | ||
| Q2 24 | $302.6M | $70.0M |
总债务ICUIWH
| Q1 26 | — | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B |
股东权益ICUIWH
| Q1 26 | — | $468.0M | ||
| Q4 25 | $2.1B | $468.0M | ||
| Q3 25 | $2.1B | $583.0M | ||
| Q2 25 | $2.1B | $570.0M | ||
| Q1 25 | $2.0B | $579.0M | ||
| Q4 24 | $2.0B | $650.0M | ||
| Q3 24 | $2.0B | $583.0M | ||
| Q2 24 | $2.0B | $623.0M |
总资产ICUIWH
| Q1 26 | — | $4.2B | ||
| Q4 25 | $4.1B | $4.2B | ||
| Q3 25 | $4.1B | $4.3B | ||
| Q2 25 | $4.1B | $4.3B | ||
| Q1 25 | $4.2B | $4.2B | ||
| Q4 24 | $4.2B | $4.2B | ||
| Q3 24 | $4.3B | $4.2B | ||
| Q2 24 | $4.3B | $4.2B |
负债/权益比ICUIWH
| Q1 26 | — | — | ||
| Q4 25 | — | 5.37× | ||
| Q3 25 | — | 4.43× | ||
| Q2 25 | — | 4.44× | ||
| Q1 25 | — | 4.29× | ||
| Q4 24 | — | 3.72× | ||
| Q3 24 | — | 4.19× | ||
| Q2 24 | — | 3.83× |
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 | $367.0M |
| 自由现金流经营现金流 - 资本支出 | $36.0M | $168.0M |
| 自由现金流率自由现金流/营收 | 6.6% | 50.3% |
| 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 | — | — |
| 过去12个月自由现金流最近4个季度 | $91.8M | $437.0M |
8季度趋势，按日历期对齐
经营现金流ICUIWH
| Q1 26 | — | $367.0M | ||
| Q4 25 | $60.6M | $152.0M | ||
| Q3 25 | $56.7M | $86.0M | ||
| Q2 25 | $11.2M | $70.0M | ||
| Q1 25 | $51.3M | $59.0M | ||
| Q4 24 | $40.2M | $134.0M | ||
| Q3 24 | $36.1M | $79.0M | ||
| Q2 24 | $82.0M | $1.0M |
自由现金流ICUIWH
| Q1 26 | — | $168.0M | ||
| Q4 25 | $36.0M | $136.0M | ||
| Q3 25 | $27.6M | $75.0M | ||
| Q2 25 | $-8.5M | $58.0M | ||
| Q1 25 | $36.7M | $52.0M | ||
| Q4 24 | $16.1M | $109.0M | ||
| Q3 24 | $16.2M | $71.0M | ||
| Q2 24 | $62.5M | $-6.0M |
自由现金流率ICUIWH
| Q1 26 | — | 50.3% | ||
| Q4 25 | 6.6% | 40.7% | ||
| Q3 25 | 5.1% | 19.6% | ||
| Q2 25 | -1.5% | 14.6% | ||
| Q1 25 | 6.1% | 16.5% | ||
| Q4 24 | 2.6% | 32.4% | ||
| Q3 24 | 2.7% | 17.9% | ||
| Q2 24 | 10.5% | -1.6% |
资本支出强度ICUIWH
| Q1 26 | — | — | ||
| Q4 25 | 4.6% | 4.8% | ||
| Q3 25 | 5.4% | 2.9% | ||
| Q2 25 | 3.6% | 3.0% | ||
| Q1 25 | 2.4% | 2.2% | ||
| Q4 24 | 3.8% | 7.4% | ||
| Q3 24 | 3.4% | 2.0% | ||
| Q2 24 | 3.3% | 1.9% |
现金转化率ICUIWH
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.82× | ||
| Q2 25 | 0.32× | 0.80× | ||
| Q1 25 | — | 0.97× | ||
| Q4 24 | — | 1.58× | ||
| Q3 24 | — | 0.77× | ||
| Q2 24 | — | 0.01× |
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% |
WH
| Fee-related and other revenues | $334.0M | 100% |
| Management and other fees | $2.0M | 1% |
