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国际香精香料（IFF）与SELECT MEDICAL HOLDINGS CORP（SEM）财务数据对比。点击上方公司名可切换其他公司
国际香精香料的季度营收约是SELECT MEDICAL HOLDINGS CORP的1.9倍（$2.6B vs $1.4B），SELECT MEDICAL HOLDINGS CORP净利率更高（1.4% vs 0.2%，领先1.3%），SELECT MEDICAL HOLDINGS CORP同比增速更快（6.4% vs -6.6%），国际香精香料自由现金流更多（$130.0M vs $5.2M），过去两年SELECT MEDICAL HOLDINGS CORP的营收复合增速更高（2.8% vs -5.5%）
国际香精香料（IFF）是美国知名企业，业务覆盖风味、质感、香氛、营养、酶制剂、菌种、大豆蛋白、益生菌等多品类产品研发，产品行销全球。公司总部位于纽约，在44个国家设有创意、销售及生产基地，是标普500指数成分股企业。
Select Medical是总部位于美国宾夕法尼亚州的医疗健康企业，业务涵盖长期急症护理、住院康复医院运营，同时开设有职业健康与物理治疗诊所，母公司Select Medical Holdings在纽约证券交易所挂牌上市。
IFF vs SEM — 直观对比
营收规模更大
IFF
是对方的1.9倍
$1.4B
营收增速更快
SEM
高出13.0%
-6.6%
净利率更高
SEM
高出1.3%
0.2%
自由现金流更多
IFF
多$124.8M
$5.2M
两年增速更快
SEM
近两年复合增速
-5.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.6B | $1.4B |
| 净利润 | $5.0M | $20.2M |
| 毛利率 | 34.4% | — |
| 营业利润率 | 3.7% | 4.6% |
| 净利率 | 0.2% | 1.4% |
| 营收同比 | -6.6% | 6.4% |
| 净利润同比 | 110.9% | 225.7% |
| 每股收益（稀释后） | $0.03 | $0.17 |
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IFFSEM
| Q4 25 | $2.6B | $1.4B | ||
| Q3 25 | $2.7B | $1.4B | ||
| Q2 25 | $2.8B | $1.3B | ||
| Q1 25 | $2.8B | $1.4B | ||
| Q4 24 | $2.8B | $1.3B | ||
| Q3 24 | $2.9B | $1.3B | ||
| Q2 24 | $2.9B | $1.3B | ||
| Q1 24 | $2.9B | $1.3B |
净利润IFFSEM
| Q4 25 | $5.0M | $20.2M | ||
| Q3 25 | $40.0M | $28.8M | ||
| Q2 25 | $612.0M | $40.6M | ||
| Q1 25 | $-1.0B | $56.7M | ||
| Q4 24 | $-46.0M | $-16.1M | ||
| Q3 24 | $59.0M | $55.6M | ||
| Q2 24 | $170.0M | $77.6M | ||
| Q1 24 | $60.0M | $96.9M |
毛利率IFFSEM
| Q4 25 | 34.4% | — | ||
| Q3 25 | 36.5% | — | ||
| Q2 25 | 37.3% | — | ||
| Q1 25 | 36.4% | — | ||
| Q4 24 | 35.4% | — | ||
| Q3 24 | 36.0% | — | ||
| Q2 24 | 37.0% | — | ||
| Q1 24 | 35.3% | — |
营业利润率IFFSEM
| Q4 25 | 3.7% | 4.6% | ||
| Q3 25 | 8.4% | 5.4% | ||
| Q2 25 | 7.2% | 6.5% | ||
| Q1 25 | -31.8% | 8.3% | ||
| Q4 24 | 4.6% | 1.6% | ||
| Q3 24 | 8.5% | 4.3% | ||
| Q2 24 | 6.6% | 5.8% | ||
| Q1 24 | 6.9% | 9.0% |
净利率IFFSEM
| Q4 25 | 0.2% | 1.4% | ||
| Q3 25 | 1.5% | 2.1% | ||
| Q2 25 | 22.1% | 3.0% | ||
| Q1 25 | -35.8% | 4.2% | ||
| Q4 24 | -1.7% | -1.2% | ||
| Q3 24 | 2.0% | 4.4% | ||
| Q2 24 | 5.9% | 6.1% | ||
| Q1 24 | 2.1% | 7.3% |
每股收益（稀释后）IFFSEM
| Q4 25 | $0.03 | $0.17 | ||
| Q3 25 | $0.16 | $0.23 | ||
| Q2 25 | $2.38 | $0.32 | ||
| Q1 25 | $-3.98 | $0.44 | ||
| Q4 24 | $-0.17 | $-0.12 | ||
| Q3 24 | $0.23 | $0.43 | ||
| Q2 24 | $0.66 | $0.60 | ||
| Q1 24 | $0.23 | $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 | $590.0M | $26.5M |
| 总债务越低越好 | $5.6B | $1.8B |
| 股东权益账面价值 | $14.2B | $1.7B |
| 总资产 | $25.5B | $5.9B |
| 负债/权益比越低杠杆越低 | 0.40× | 1.06× |
8季度趋势，按日历期对齐
现金及短期投资IFFSEM
| Q4 25 | $590.0M | $26.5M | ||
| Q3 25 | $621.0M | $60.1M | ||
| Q2 25 | $816.0M | $52.3M | ||
| Q1 25 | $613.0M | $53.2M | ||
| Q4 24 | $469.0M | $59.7M | ||
| Q3 24 | $567.0M | $191.5M | ||
| Q2 24 | $671.0M | $111.2M | ||
| Q1 24 | $732.0M | $92.6M |
总债务IFFSEM
| Q4 25 | $5.6B | $1.8B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | $8.9B | $1.7B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.6B | ||
| Q1 24 | — | $3.8B |
股东权益IFFSEM
| Q4 25 | $14.2B | $1.7B | ||
| Q3 25 | $14.2B | $1.7B | ||
| Q2 25 | $14.4B | $1.7B | ||
| Q1 25 | $13.2B | $1.7B | ||
| Q4 24 | $13.9B | $1.7B | ||
| Q3 24 | $14.8B | $1.9B | ||
| Q2 24 | $14.3B | $1.4B | ||
| Q1 24 | $14.3B | $1.4B |
总资产IFFSEM
| Q4 25 | $25.5B | $5.9B | ||
| Q3 25 | $25.8B | $5.7B | ||
| Q2 25 | $26.1B | $5.7B | ||
| Q1 25 | $28.3B | $5.7B | ||
| Q4 24 | $28.7B | $5.6B | ||
| Q3 24 | $29.9B | $8.0B | ||
| Q2 24 | $29.5B | $7.9B | ||
| Q1 24 | $30.6B | $7.9B |
负债/权益比IFFSEM
| Q4 25 | 0.40× | 1.06× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 1.10× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | 0.64× | 1.01× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | 2.54× | ||
| Q1 24 | — | 2.75× |
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 | $318.0M | $64.3M |
| 自由现金流经营现金流 - 资本支出 | $130.0M | $5.2M |
| 自由现金流率自由现金流/营收 | 5.0% | 0.4% |
| 资本支出强度资本支出/营收 | 7.3% | 4.2% |
| 现金转化率经营现金流/净利润 | 63.60× | 3.19× |
| 过去12个月自由现金流最近4个季度 | $256.0M | $117.2M |
8季度趋势，按日历期对齐
经营现金流IFFSEM
| Q4 25 | $318.0M | $64.3M | ||
| Q3 25 | $164.0M | $175.3M | ||
| Q2 25 | $241.0M | $110.3M | ||
| Q1 25 | $127.0M | $-3.5M | ||
| Q4 24 | $368.0M | $125.4M | ||
| Q3 24 | $366.0M | $181.0M | ||
| Q2 24 | $237.0M | $278.2M | ||
| Q1 24 | $99.0M | $-66.7M |
自由现金流IFFSEM
| Q4 25 | $130.0M | $5.2M | ||
| Q3 25 | $32.0M | $122.2M | ||
| Q2 25 | $146.0M | $45.6M | ||
| Q1 25 | $-52.0M | $-55.8M | ||
| Q4 24 | $208.0M | $62.0M | ||
| Q3 24 | $263.0M | $130.3M | ||
| Q2 24 | $155.0M | $222.6M | ||
| Q1 24 | $-19.0M | $-119.2M |
自由现金流率IFFSEM
| Q4 25 | 5.0% | 0.4% | ||
| Q3 25 | 1.2% | 9.0% | ||
| Q2 25 | 5.3% | 3.4% | ||
| Q1 25 | -1.8% | -4.1% | ||
| Q4 24 | 7.5% | 4.7% | ||
| Q3 24 | 9.0% | 10.2% | ||
| Q2 24 | 5.4% | 17.4% | ||
| Q1 24 | -0.7% | -9.0% |
资本支出强度IFFSEM
| Q4 25 | 7.3% | 4.2% | ||
| Q3 25 | 4.9% | 3.9% | ||
| Q2 25 | 3.4% | 4.8% | ||
| Q1 25 | 6.3% | 3.9% | ||
| Q4 24 | 5.8% | 4.8% | ||
| Q3 24 | 3.5% | 4.0% | ||
| Q2 24 | 2.8% | 4.3% | ||
| Q1 24 | 4.1% | 4.0% |
现金转化率IFFSEM
| Q4 25 | 63.60× | 3.19× | ||
| Q3 25 | 4.10× | 6.09× | ||
| Q2 25 | 0.39× | 2.72× | ||
| Q1 25 | — | -0.06× | ||
| Q4 24 | — | — | ||
| Q3 24 | 6.20× | 3.25× | ||
| Q2 24 | 1.39× | 3.59× | ||
| Q1 24 | 1.65× | -0.69× |
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
IFF
| Food Ingredients | $802.0M | 31% |
| Scent | $610.0M | 24% |
| Other | $589.0M | 23% |
| Taste | $588.0M | 23% |
SEM
| Critical Illness Recovery Hospitals | $629.7M | 45% |
| Health Care Patient Service Non Medicare | $428.6M | 31% |
| Rehabilitation Hospitals | $339.2M | 24% |
