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iRhythm Holdings, Inc.（IRTC）与MERIT MEDICAL SYSTEMS INC（MMSI）财务数据对比。点击上方公司名可切换其他公司
MERIT MEDICAL SYSTEMS INC的季度营收约是iRhythm Holdings, Inc.的1.9倍（$393.9M vs $208.9M）。MERIT MEDICAL SYSTEMS INC净利率更高（9.6% vs 2.7%，领先7.0%）。iRhythm Holdings, Inc.同比增速更快（27.1% vs 10.9%）。MERIT MEDICAL SYSTEMS INC自由现金流更多（$74.0M vs $14.5M）。过去两年iRhythm Holdings, Inc.的营收复合增速更高（25.8% vs 10.3%）
iRhythm Holdings是一家专注于心脏护理领域的数字医疗企业，开发可穿戴动态心脏监测设备及配套AI分析工具，主要服务美国市场的医疗机构与患者，帮助检测房颤等心律异常病症，为临床诊断提供可靠的数据支持。
梅里特医疗系统公司是一家全球性医疗设备企业，设计、生产和销售适用于心脏病学、放射学、肿瘤学、内窥镜及重症监护领域的介入和诊断产品，为全球医院及医疗机构提供微创医疗解决方案，助力提升患者疗效和临床操作效率。
IRTC vs MMSI — 直观对比
营收规模更大
MMSI
是对方的1.9倍
$208.9M
营收增速更快
IRTC
高出16.2%
10.9%
净利率更高
MMSI
高出7.0%
2.7%
自由现金流更多
MMSI
多$59.6M
$14.5M
两年增速更快
IRTC
近两年复合增速
10.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $208.9M | $393.9M |
| 净利润 | $5.6M | $38.0M |
| 毛利率 | 70.9% | 49.6% |
| 营业利润率 | 1.1% | 13.8% |
| 净利率 | 2.7% | 9.6% |
| 营收同比 | 27.1% | 10.9% |
| 净利润同比 | 518.5% | 36.0% |
| 每股收益（稀释后） | $0.18 | $0.64 |
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IRTCMMSI
| Q4 25 | $208.9M | $393.9M | ||
| Q3 25 | $192.9M | $384.2M | ||
| Q2 25 | $186.7M | $382.5M | ||
| Q1 25 | $158.7M | $355.4M | ||
| Q4 24 | $164.3M | $355.2M | ||
| Q3 24 | $147.5M | $339.8M | ||
| Q2 24 | $148.0M | $338.0M | ||
| Q1 24 | $131.9M | $323.5M |
净利润IRTCMMSI
| Q4 25 | $5.6M | $38.0M | ||
| Q3 25 | $-5.2M | $27.8M | ||
| Q2 25 | $-14.2M | $32.6M | ||
| Q1 25 | $-30.7M | $30.1M | ||
| Q4 24 | $-1.3M | $27.9M | ||
| Q3 24 | $-46.2M | $28.4M | ||
| Q2 24 | $-20.1M | $35.7M | ||
| Q1 24 | $-45.7M | $28.2M |
毛利率IRTCMMSI
| Q4 25 | 70.9% | 49.6% | ||
| Q3 25 | 71.1% | 48.5% | ||
| Q2 25 | 71.2% | 48.2% | ||
| Q1 25 | 68.8% | 48.4% | ||
| Q4 24 | 70.0% | 48.7% | ||
| Q3 24 | 68.8% | 46.4% | ||
| Q2 24 | 69.9% | 47.7% | ||
| Q1 24 | 66.3% | 46.9% |
营业利润率IRTCMMSI
| Q4 25 | 1.1% | 13.8% | ||
| Q3 25 | -4.4% | 11.1% | ||
| Q2 25 | -10.0% | 12.3% | ||
| Q1 25 | -20.5% | 11.5% | ||
| Q4 24 | -2.5% | 10.3% | ||
| Q3 24 | -34.1% | 11.0% | ||
| Q2 24 | -15.5% | 13.6% | ||
| Q1 24 | -28.9% | 11.1% |
净利率IRTCMMSI
| Q4 25 | 2.7% | 9.6% | ||
| Q3 25 | -2.7% | 7.2% | ||
| Q2 25 | -7.6% | 8.5% | ||
| Q1 25 | -19.3% | 8.5% | ||
| Q4 24 | -0.8% | 7.9% | ||
| Q3 24 | -31.3% | 8.4% | ||
| Q2 24 | -13.6% | 10.6% | ||
| Q1 24 | -34.6% | 8.7% |
每股收益（稀释后）IRTCMMSI
| Q4 25 | $0.18 | $0.64 | ||
| Q3 25 | $-0.16 | $0.46 | ||
| Q2 25 | $-0.44 | $0.54 | ||
| Q1 25 | $-0.97 | $0.49 | ||
| Q4 24 | $-0.03 | $0.46 | ||
| Q3 24 | $-1.48 | $0.48 | ||
| Q2 24 | $-0.65 | $0.61 | ||
| Q1 24 | $-1.47 | $0.48 |
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 | $583.8M | $446.4M |
| 总债务越低越好 | — | $734.0M |
| 股东权益账面价值 | $152.7M | $1.6B |
| 总资产 | $1.0B | $2.7B |
| 负债/权益比越低杠杆越低 | — | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资IRTCMMSI
| Q4 25 | $583.8M | $446.4M | ||
| Q3 25 | $565.2M | $392.5M | ||
| Q2 25 | $545.5M | $341.8M | ||
| Q1 25 | $520.6M | $395.5M | ||
| Q4 24 | $535.6M | $376.7M | ||
| Q3 24 | $522.0M | $523.1M | ||
| Q2 24 | $561.5M | $636.7M | ||
| Q1 24 | $569.1M | $581.9M |
总债务IRTCMMSI
| Q4 25 | — | $734.0M | ||
| Q3 25 | — | $732.9M | ||
| Q2 25 | — | $731.8M | ||
| Q1 25 | — | $730.7M | ||
| Q4 24 | — | $729.6M | ||
| Q3 24 | — | $750.5M | ||
| Q2 24 | — | $801.3M | ||
| Q1 24 | — | $800.1M |
股东权益IRTCMMSI
| Q4 25 | $152.7M | $1.6B | ||
| Q3 25 | $121.9M | $1.5B | ||
| Q2 25 | $103.7M | $1.5B | ||
| Q1 25 | $86.7M | $1.4B | ||
| Q4 24 | $90.9M | $1.4B | ||
| Q3 24 | $71.8M | $1.3B | ||
| Q2 24 | $99.2M | $1.3B | ||
| Q1 24 | $90.3M | $1.2B |
总资产IRTCMMSI
| Q4 25 | $1.0B | $2.7B | ||
| Q3 25 | $995.2M | $2.6B | ||
| Q2 25 | $964.0M | $2.6B | ||
| Q1 25 | $926.1M | $2.5B | ||
| Q4 24 | $931.4M | $2.4B | ||
| Q3 24 | $909.7M | $2.4B | ||
| Q2 24 | $919.2M | $2.4B | ||
| Q1 24 | $909.8M | $2.3B |
负债/权益比IRTCMMSI
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.49× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.53× | ||
| Q3 24 | — | 0.57× | ||
| Q2 24 | — | 0.62× | ||
| Q1 24 | — | 0.65× |
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 | $26.2M | $98.5M |
| 自由现金流经营现金流 - 资本支出 | $14.5M | $74.0M |
| 自由现金流率自由现金流/营收 | 6.9% | 18.8% |
| 资本支出强度资本支出/营收 | 5.6% | 6.2% |
| 现金转化率经营现金流/净利润 | 4.70× | 2.59× |
| 过去12个月自由现金流最近4个季度 | $34.5M | $215.7M |
8季度趋势，按日历期对齐
经营现金流IRTCMMSI
| Q4 25 | $26.2M | $98.5M | ||
| Q3 25 | $34.9M | $75.0M | ||
| Q2 25 | $27.7M | $83.3M | ||
| Q1 25 | $-7.9M | $40.6M | ||
| Q4 24 | $19.2M | $68.7M | ||
| Q3 24 | $24.3M | $47.3M | ||
| Q2 24 | $11.8M | $68.5M | ||
| Q1 24 | $-52.0M | $36.2M |
自由现金流IRTCMMSI
| Q4 25 | $14.5M | $74.0M | ||
| Q3 25 | $20.1M | $52.5M | ||
| Q2 25 | $17.3M | $69.6M | ||
| Q1 25 | $-17.3M | $19.5M | ||
| Q4 24 | $12.4M | $65.3M | ||
| Q3 24 | $15.5M | $38.0M | ||
| Q2 24 | $3.4M | $57.9M | ||
| Q1 24 | $-61.8M | $24.5M |
自由现金流率IRTCMMSI
| Q4 25 | 6.9% | 18.8% | ||
| Q3 25 | 10.4% | 13.7% | ||
| Q2 25 | 9.3% | 18.2% | ||
| Q1 25 | -10.9% | 5.5% | ||
| Q4 24 | 7.5% | 18.4% | ||
| Q3 24 | 10.5% | 11.2% | ||
| Q2 24 | 2.3% | 17.1% | ||
| Q1 24 | -46.8% | 7.6% |
资本支出强度IRTCMMSI
| Q4 25 | 5.6% | 6.2% | ||
| Q3 25 | 7.7% | 5.8% | ||
| Q2 25 | 5.6% | 3.6% | ||
| Q1 25 | 5.9% | 5.9% | ||
| Q4 24 | 4.2% | 1.0% | ||
| Q3 24 | 6.0% | 2.8% | ||
| Q2 24 | 5.7% | 3.1% | ||
| Q1 24 | 7.4% | 3.6% |
现金转化率IRTCMMSI
| Q4 25 | 4.70× | 2.59× | ||
| Q3 25 | — | 2.70× | ||
| Q2 25 | — | 2.56× | ||
| Q1 25 | — | 1.35× | ||
| Q4 24 | — | 2.46× | ||
| Q3 24 | — | 1.66× | ||
| Q2 24 | — | 1.92× | ||
| Q1 24 | — | 1.28× |
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
IRTC
| Commercial Payors | $111.7M | 53% |
| Centers For Medicare And Medicaid | $49.2M | 24% |
| Healthcare Institutions | $34.3M | 16% |
| Non Contracted Third Party Payors | $13.7M | 7% |
MMSI
| Other | $154.6M | 39% |
| Peripheral Intervention | $93.2M | 24% |
| Cardiac Intervention | $50.2M | 13% |
| OEM | $42.6M | 11% |
| Custom Procedural Solutions | $33.1M | 8% |
| Endoscopy Segment | $20.1M | 5% |
