vs
Idexx Laboratories（IDXX）与北极星（PII）财务数据对比。点击上方公司名可切换其他公司
北极星的季度营收约是Idexx Laboratories的1.5倍（$1.7B vs $1.1B），Idexx Laboratories净利率更高（22.8% vs -2.8%，领先25.6%），Idexx Laboratories同比增速更快（14.3% vs 8.0%），Idexx Laboratories自由现金流更多（$326.3M vs $-342.5M），过去两年Idexx Laboratories的营收复合增速更高（6.4% vs -8.0%）
IDEXX Laboratories是1983年成立的美国跨国企业，主营伴侣动物诊疗、畜禽养殖、水质检测、乳制品领域相关产品与服务的研发、生产及分销，总部位于缅因州韦斯特布鲁克，欧洲、中东及非洲地区分部设于荷兰霍夫多普。
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
IDXX vs PII — 直观对比
营收规模更大
PII
是对方的1.5倍
$1.1B
营收增速更快
IDXX
高出6.3%
8.0%
净利率更高
IDXX
高出25.6%
-2.8%
自由现金流更多
IDXX
多$668.8M
$-342.5M
两年增速更快
IDXX
近两年复合增速
-8.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.7B |
| 净利润 | $248.2M | $-47.2M |
| 毛利率 | 60.3% | 20.2% |
| 营业利润率 | 28.9% | — |
| 净利率 | 22.8% | -2.8% |
| 营收同比 | 14.3% | 8.0% |
| 净利润同比 | 14.8% | 29.2% |
| 每股收益（稀释后） | $3.09 | $-0.83 |
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IDXXPII
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.1B | $1.9B | ||
| Q3 25 | $1.1B | $1.8B | ||
| Q2 25 | $1.1B | $1.9B | ||
| Q1 25 | $998.4M | $1.5B | ||
| Q4 24 | $954.3M | $1.8B | ||
| Q3 24 | $975.5M | $1.7B | ||
| Q2 24 | $1.0B | $2.0B |
净利润IDXXPII
| Q1 26 | — | $-47.2M | ||
| Q4 25 | $248.2M | $-303.6M | ||
| Q3 25 | $274.6M | $-15.8M | ||
| Q2 25 | $294.0M | $-79.3M | ||
| Q1 25 | $242.7M | $-66.8M | ||
| Q4 24 | $216.1M | $10.6M | ||
| Q3 24 | $232.8M | $27.7M | ||
| Q2 24 | $203.3M | $68.7M |
毛利率IDXXPII
| Q1 26 | — | 20.2% | ||
| Q4 25 | 60.3% | 20.0% | ||
| Q3 25 | 61.8% | 20.7% | ||
| Q2 25 | 62.6% | 19.4% | ||
| Q1 25 | 62.4% | 16.0% | ||
| Q4 24 | 59.8% | 20.4% | ||
| Q3 24 | 61.1% | 20.6% | ||
| Q2 24 | 61.7% | 21.6% |
营业利润率IDXXPII
| Q1 26 | — | — | ||
| Q4 25 | 28.9% | -16.7% | ||
| Q3 25 | 32.1% | 1.1% | ||
| Q2 25 | 33.6% | -0.7% | ||
| Q1 25 | 31.7% | -2.4% | ||
| Q4 24 | 27.4% | 3.7% | ||
| Q3 24 | 31.2% | 3.8% | ||
| Q2 24 | 26.3% | 6.1% |
净利率IDXXPII
| Q1 26 | — | -2.8% | ||
| Q4 25 | 22.8% | -15.8% | ||
| Q3 25 | 24.8% | -0.9% | ||
| Q2 25 | 26.5% | -4.3% | ||
| Q1 25 | 24.3% | -4.3% | ||
| Q4 24 | 22.7% | 0.6% | ||
| Q3 24 | 23.9% | 1.6% | ||
| Q2 24 | 20.3% | 3.5% |
每股收益（稀释后）IDXXPII
| Q1 26 | — | $-0.83 | ||
| Q4 25 | $3.09 | $-5.34 | ||
| Q3 25 | $3.40 | $-0.28 | ||
| Q2 25 | $3.63 | $-1.39 | ||
| Q1 25 | $2.96 | $-1.17 | ||
| Q4 24 | $2.62 | $0.18 | ||
| Q3 24 | $2.80 | $0.49 | ||
| Q2 24 | $2.44 | $1.21 |
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 | $180.1M | $282.0M |
| 总债务越低越好 | $450.0M | — |
| 股东权益账面价值 | $1.6B | $750.4M |
| 总资产 | $3.4B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.28× | — |
8季度趋势，按日历期对齐
现金及短期投资IDXXPII
| Q1 26 | — | $282.0M | ||
| Q4 25 | $180.1M | $138.0M | ||
| Q3 25 | $208.2M | $335.5M | ||
| Q2 25 | $164.6M | $324.3M | ||
| Q1 25 | $164.0M | $291.7M | ||
| Q4 24 | $288.3M | $287.8M | ||
| Q3 24 | $308.6M | $291.3M | ||
| Q2 24 | $401.6M | $322.7M |
总债务IDXXPII
| Q1 26 | — | — | ||
| Q4 25 | $450.0M | $1.5B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | $617.8M | $1.6B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $2.1B |
股东权益IDXXPII
| Q1 26 | — | $750.4M | ||
| Q4 25 | $1.6B | $828.4M | ||
| Q3 25 | $1.6B | $1.1B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.4B | $1.2B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.6B | $1.3B |
总资产IDXXPII
| Q1 26 | — | $5.2B | ||
| Q4 25 | $3.4B | $4.9B | ||
| Q3 25 | $3.4B | $5.3B | ||
| Q2 25 | $3.3B | $5.4B | ||
| Q1 25 | $3.2B | $5.5B | ||
| Q4 24 | $3.3B | $5.5B | ||
| Q3 24 | $3.4B | $5.6B | ||
| Q2 24 | $3.4B | $5.7B |
负债/权益比IDXXPII
| Q1 26 | — | — | ||
| Q4 25 | 0.28× | 1.82× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | 0.39× | 1.27× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.56× |
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 | $355.8M | — |
| 自由现金流经营现金流 - 资本支出 | $326.3M | $-342.5M |
| 自由现金流率自由现金流/营收 | 29.9% | -20.6% |
| 资本支出强度资本支出/营收 | 2.7% | — |
| 现金转化率经营现金流/净利润 | 1.43× | — |
| 过去12个月自由现金流最近4个季度 | $1.1B | $168.0M |
8季度趋势，按日历期对齐
经营现金流IDXXPII
| Q1 26 | — | — | ||
| Q4 25 | $355.8M | $178.7M | ||
| Q3 25 | $402.3M | $158.8M | ||
| Q2 25 | $185.7M | $320.3M | ||
| Q1 25 | $238.0M | $83.2M | ||
| Q4 24 | $262.0M | $206.3M | ||
| Q3 24 | $220.1M | $21.0M | ||
| Q2 24 | $248.3M | $146.3M |
自由现金流IDXXPII
| Q1 26 | — | $-342.5M | ||
| Q4 25 | $326.3M | $114.0M | ||
| Q3 25 | $371.2M | $116.7M | ||
| Q2 25 | $151.6M | $279.8M | ||
| Q1 25 | $207.9M | $47.6M | ||
| Q4 24 | $232.8M | $137.3M | ||
| Q3 24 | $192.0M | $-32.4M | ||
| Q2 24 | $215.0M | $79.1M |
自由现金流率IDXXPII
| Q1 26 | — | -20.6% | ||
| Q4 25 | 29.9% | 5.9% | ||
| Q3 25 | 33.6% | 6.3% | ||
| Q2 25 | 13.7% | 15.1% | ||
| Q1 25 | 20.8% | 3.1% | ||
| Q4 24 | 24.4% | 7.8% | ||
| Q3 24 | 19.7% | -1.9% | ||
| Q2 24 | 21.4% | 4.0% |
资本支出强度IDXXPII
| Q1 26 | — | — | ||
| Q4 25 | 2.7% | 3.4% | ||
| Q3 25 | 2.8% | 2.3% | ||
| Q2 25 | 3.1% | 2.2% | ||
| Q1 25 | 3.0% | 2.3% | ||
| Q4 24 | 3.1% | 3.9% | ||
| Q3 24 | 2.9% | 3.1% | ||
| Q2 24 | 3.3% | 3.4% |
现金转化率IDXXPII
| Q1 26 | — | — | ||
| Q4 25 | 1.43× | — | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | 0.63× | — | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 1.21× | 19.46× | ||
| Q3 24 | 0.95× | 0.76× | ||
| Q2 24 | 1.22× | 2.13× |
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
IDXX
| Vet Lab Consumables | $389.0M | 36% |
| Reference Laboratory Diagnostic And Consulting Services | $349.2M | 32% |
| Rapid Assay Products | $76.0M | 7% |
| Recurring Revenue | $70.6M | 6% |
| CAG Diagnostic Capital Instruments | $58.1M | 5% |
| Water Segment | $50.5M | 5% |
| Livestock And Poultry Diagnostics Segment | $37.5M | 3% |
| CAG Diagnostics Service And Accessories | $35.3M | 3% |
| Systems And Hardware | $20.1M | 2% |
| Rebate And Up Front Considerations Arrangements | $2.4M | 0% |
| Extended Warranties And Post Contract Support Revenue | $1.0M | 0% |
PII
暂无分部数据
