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InnovAge Holding Corp.（INNV）与U S PHYSICAL THERAPY INC（USPH）财务数据对比。点击上方公司名可切换其他公司
InnovAge Holding Corp.的季度营收约是U S PHYSICAL THERAPY INC的1.2倍（$239.7M vs $202.7M）。InnovAge Holding Corp.净利率更高（4.4% vs 2.0%，领先2.4%）。InnovAge Holding Corp.同比增速更快（14.7% vs 12.3%）。U S PHYSICAL THERAPY INC自由现金流更多（$21.0M vs $19.0M）。过去两年U S PHYSICAL THERAPY INC的营收复合增速更高（14.1% vs 11.4%）
InnovAge Holding Corp是美国领先的老年护理服务商，主要运营老年人全包护理项目（PACE），为符合条件的高龄群体提供综合医疗、社会支持与日常生活协助，帮助老人居家养老，服务覆盖美国多个州。
该企业是美国领先的门诊康复服务提供商，运营数百间线下物理治疗门诊，为受伤、术后、慢性疼痛及行动障碍人群提供康复护理，同时覆盖运动医学、职业治疗、儿童康复等特色服务领域。
INNV vs USPH — 直观对比
营收规模更大
INNV
是对方的1.2倍
$202.7M
营收增速更快
INNV
高出2.3%
12.3%
净利率更高
INNV
高出2.4%
2.0%
自由现金流更多
USPH
多$2.0M
$19.0M
两年增速更快
USPH
近两年复合增速
11.4%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $239.7M | $202.7M |
| 净利润 | $10.6M | $4.2M |
| 毛利率 | 22.0% | 19.8% |
| 营业利润率 | 5.5% | 8.3% |
| 净利率 | 4.4% | 2.0% |
| 营收同比 | 14.7% | 12.3% |
| 净利润同比 | 180.3% | -55.1% |
| 每股收益（稀释后） | $0.08 | $-0.44 |
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INNVUSPH
| Q4 25 | $239.7M | $202.7M | ||
| Q3 25 | $236.1M | $197.1M | ||
| Q2 25 | $221.4M | $197.3M | ||
| Q1 25 | $218.1M | $183.8M | ||
| Q4 24 | $209.0M | $180.4M | ||
| Q3 24 | $205.1M | $168.0M | ||
| Q2 24 | $199.4M | $167.2M | ||
| Q1 24 | $193.1M | $155.7M |
净利润INNVUSPH
| Q4 25 | $10.6M | $4.2M | ||
| Q3 25 | $8.0M | $13.1M | ||
| Q2 25 | $-785.0K | $12.4M | ||
| Q1 25 | $-11.4M | $9.9M | ||
| Q4 24 | $-13.2M | $9.2M | ||
| Q3 24 | $-4.9M | $6.6M | ||
| Q2 24 | $-1.7M | $7.5M | ||
| Q1 24 | $-5.9M | $8.0M |
毛利率INNVUSPH
| Q4 25 | 22.0% | 19.8% | ||
| Q3 25 | 21.8% | 18.7% | ||
| Q2 25 | 18.6% | 21.1% | ||
| Q1 25 | 18.7% | 16.9% | ||
| Q4 24 | 17.7% | 18.0% | ||
| Q3 24 | 16.8% | 17.3% | ||
| Q2 24 | 18.3% | 20.3% | ||
| Q1 24 | 17.6% | 18.2% |
营业利润率INNVUSPH
| Q4 25 | 5.5% | 8.3% | ||
| Q3 25 | 3.5% | 12.8% | ||
| Q2 25 | -1.0% | 12.6% | ||
| Q1 25 | -4.7% | 10.7% | ||
| Q4 24 | -6.0% | 10.9% | ||
| Q3 24 | -2.4% | 7.6% | ||
| Q2 24 | -2.4% | 9.3% | ||
| Q1 24 | -3.0% | 9.6% |
净利率INNVUSPH
| Q4 25 | 4.4% | 2.0% | ||
| Q3 25 | 3.4% | 6.7% | ||
| Q2 25 | -0.4% | 6.3% | ||
| Q1 25 | -5.2% | 5.4% | ||
| Q4 24 | -6.3% | 5.1% | ||
| Q3 24 | -2.4% | 3.9% | ||
| Q2 24 | -0.9% | 4.5% | ||
| Q1 24 | -3.0% | 5.2% |
每股收益（稀释后）INNVUSPH
| Q4 25 | $0.08 | $-0.44 | ||
| Q3 25 | $0.06 | $0.48 | ||
| Q2 25 | $0.00 | $0.58 | ||
| Q1 25 | $-0.08 | $0.80 | ||
| Q4 24 | $-0.10 | $0.52 | ||
| Q3 24 | $-0.04 | $0.39 | ||
| Q2 24 | $-0.01 | $0.47 | ||
| Q1 24 | $-0.04 | $0.46 |
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 | $126.0M | $35.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $256.8M | $476.4M |
| 总资产 | $527.5M | $1.2B |
| 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INNVUSPH
| Q4 25 | $126.0M | $35.6M | ||
| Q3 25 | $109.4M | $31.1M | ||
| Q2 25 | $105.9M | $34.1M | ||
| Q1 25 | $101.7M | $39.2M | ||
| Q4 24 | $86.9M | $41.4M | ||
| Q3 24 | $85.7M | $117.0M | ||
| Q2 24 | $102.8M | $112.9M | ||
| Q1 24 | $99.3M | $132.3M |
总债务INNVUSPH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $60.0M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $66.0M | — | ||
| Q1 24 | — | — |
股东权益INNVUSPH
| Q4 25 | $256.8M | $476.4M | ||
| Q3 25 | $245.0M | $503.6M | ||
| Q2 25 | $235.0M | $500.8M | ||
| Q1 25 | $238.0M | $497.3M | ||
| Q4 24 | $248.5M | $488.9M | ||
| Q3 24 | $260.9M | $482.8M | ||
| Q2 24 | $269.3M | $484.6M | ||
| Q1 24 | $281.1M | $479.8M |
总资产INNVUSPH
| Q4 25 | $527.5M | $1.2B | ||
| Q3 25 | $510.2M | $1.2B | ||
| Q2 25 | $526.9M | $1.2B | ||
| Q1 25 | $536.6M | $1.2B | ||
| Q4 24 | $524.8M | $1.2B | ||
| Q3 24 | $527.7M | $1.0B | ||
| Q2 24 | $547.7M | $1.0B | ||
| Q1 24 | $527.4M | $1.0B |
负债/权益比INNVUSPH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.25× | — | ||
| Q1 24 | — | — |
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 | $21.4M | $24.9M |
| 自由现金流经营现金流 - 资本支出 | $19.0M | $21.0M |
| 自由现金流率自由现金流/营收 | 7.9% | 10.4% |
| 资本支出强度资本支出/营收 | 1.0% | 1.9% |
| 现金转化率经营现金流/净利润 | 2.01× | 6.00× |
| 过去12个月自由现金流最近4个季度 | $49.4M | $61.0M |
8季度趋势，按日历期对齐
经营现金流INNVUSPH
| Q4 25 | $21.4M | $24.9M | ||
| Q3 25 | $3.9M | $19.9M | ||
| Q2 25 | $9.0M | $34.9M | ||
| Q1 25 | $24.6M | $-4.7M | ||
| Q4 24 | $6.8M | $19.4M | ||
| Q3 24 | $-7.5M | $22.1M | ||
| Q2 24 | $1.9M | $29.0M | ||
| Q1 24 | $3.5M | $4.4M |
自由现金流INNVUSPH
| Q4 25 | $19.0M | $21.0M | ||
| Q3 25 | $-153.0K | $15.6M | ||
| Q2 25 | $8.8M | $31.6M | ||
| Q1 25 | $21.7M | $-7.3M | ||
| Q4 24 | $5.4M | $16.9M | ||
| Q3 24 | $-9.7M | $19.6M | ||
| Q2 24 | $-1.4M | $26.7M | ||
| Q1 24 | $3.1M | $2.6M |
自由现金流率INNVUSPH
| Q4 25 | 7.9% | 10.4% | ||
| Q3 25 | -0.1% | 7.9% | ||
| Q2 25 | 4.0% | 16.0% | ||
| Q1 25 | 10.0% | -3.9% | ||
| Q4 24 | 2.6% | 9.4% | ||
| Q3 24 | -4.7% | 11.7% | ||
| Q2 24 | -0.7% | 15.9% | ||
| Q1 24 | 1.6% | 1.7% |
资本支出强度INNVUSPH
| Q4 25 | 1.0% | 1.9% | ||
| Q3 25 | 1.7% | 2.2% | ||
| Q2 25 | 0.1% | 1.6% | ||
| Q1 25 | 1.3% | 1.4% | ||
| Q4 24 | 0.6% | 1.4% | ||
| Q3 24 | 1.1% | 1.5% | ||
| Q2 24 | 1.7% | 1.4% | ||
| Q1 24 | 0.2% | 1.2% |
现金转化率INNVUSPH
| Q4 25 | 2.01× | 6.00× | ||
| Q3 25 | 0.49× | 1.52× | ||
| Q2 25 | — | 2.81× | ||
| Q1 25 | — | -0.47× | ||
| Q4 24 | — | 2.10× | ||
| Q3 24 | — | 3.34× | ||
| Q2 24 | — | 3.86× | ||
| Q1 24 | — | 0.55× |
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
INNV
暂无分部数据
USPH
| Net Patient Revenues | $169.7M | 84% |
| Industrial Injury Prevention Services Revenues | $28.9M | 14% |
| Management Contract Revenues | $2.3M | 1% |
