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直觉外科（ISRG）与捷迈邦美（ZBH）财务数据对比。点击上方公司名可切换其他公司
直觉外科的季度营收约是捷迈邦美的1.3倍（$2.8B vs $2.1B），直觉外科净利率更高（29.8% vs 11.4%，领先18.4%），直觉外科同比增速更快（23.0% vs 9.3%），过去两年直觉外科的营收复合增速更高（17.4% vs 3.7%）
直觉外科（Intuitive Surgical）是美国医疗科技企业，主打研发、生产及销售微创外科手术机器人产品，核心产品为达芬奇手术系统，可有效提升患者临床治疗效果。该公司为纳斯达克100、标普100及标普500指数成分股，截至2021年末全球达芬奇系统装机量达6730台，其中美国市场占4139台。
捷迈邦美是一家美国上市的医疗设备企业，1927年成立，最初以生产铝制夹板为核心业务，总部设于印第安纳州华沙市，是当地医疗设备产业集群的核心成员，在全球骨科医疗器械领域拥有较高知名度。
ISRG vs ZBH — 直观对比
营收规模更大
ISRG
是对方的1.3倍
$2.1B
营收增速更快
ISRG
高出13.7%
9.3%
净利率更高
ISRG
高出18.4%
11.4%
两年增速更快
ISRG
近两年复合增速
3.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $2.1B |
| 净利润 | $826.0M | $238.3M |
| 毛利率 | 66.1% | 64.6% |
| 营业利润率 | — | 17.9% |
| 净利率 | 29.8% | 11.4% |
| 营收同比 | 23.0% | 9.3% |
| 净利润同比 | 17.4% | 30.5% |
| 每股收益（稀释后） | $2.28 | $1.22 |
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ISRGZBH
| Q1 26 | $2.8B | $2.1B | ||
| Q4 25 | $2.9B | $2.2B | ||
| Q3 25 | $2.5B | $2.0B | ||
| Q2 25 | $2.4B | $2.1B | ||
| Q1 25 | $2.3B | $1.9B | ||
| Q4 24 | $2.4B | $2.0B | ||
| Q3 24 | $2.0B | $1.8B | ||
| Q2 24 | $2.0B | $1.9B |
净利润ISRGZBH
| Q1 26 | $826.0M | $238.3M | ||
| Q4 25 | $794.8M | $139.4M | ||
| Q3 25 | $704.4M | $230.9M | ||
| Q2 25 | $658.4M | $152.8M | ||
| Q1 25 | $698.4M | $182.0M | ||
| Q4 24 | $685.7M | $239.5M | ||
| Q3 24 | $565.1M | $249.1M | ||
| Q2 24 | $526.9M | $242.8M |
毛利率ISRGZBH
| Q1 26 | 66.1% | 64.6% | ||
| Q4 25 | 66.4% | 64.7% | ||
| Q3 25 | 66.4% | 72.1% | ||
| Q2 25 | 66.3% | 71.5% | ||
| Q1 25 | 64.7% | 71.2% | ||
| Q4 24 | 68.0% | 71.0% | ||
| Q3 24 | 67.4% | 70.5% | ||
| Q2 24 | 68.3% | 71.5% |
营业利润率ISRGZBH
| Q1 26 | — | 17.9% | ||
| Q4 25 | 30.2% | 6.9% | ||
| Q3 25 | 30.3% | 17.6% | ||
| Q2 25 | 30.5% | 14.4% | ||
| Q1 25 | 25.7% | 15.3% | ||
| Q4 24 | 30.4% | 19.2% | ||
| Q3 24 | 28.3% | 15.3% | ||
| Q2 24 | 28.2% | 18.1% |
净利率ISRGZBH
| Q1 26 | 29.8% | 11.4% | ||
| Q4 25 | 27.7% | 6.2% | ||
| Q3 25 | 28.1% | 11.5% | ||
| Q2 25 | 27.0% | 7.4% | ||
| Q1 25 | 31.0% | 9.5% | ||
| Q4 24 | 28.4% | 11.8% | ||
| Q3 24 | 27.7% | 13.7% | ||
| Q2 24 | 26.2% | 12.5% |
每股收益（稀释后）ISRGZBH
| Q1 26 | $2.28 | $1.22 | ||
| Q4 25 | $2.19 | $0.71 | ||
| Q3 25 | $1.95 | $1.16 | ||
| Q2 25 | $1.81 | $0.77 | ||
| Q1 25 | $1.92 | $0.91 | ||
| Q4 24 | $1.89 | $1.18 | ||
| Q3 24 | $1.56 | $1.23 | ||
| Q2 24 | $1.46 | $1.18 |
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 | — | $424.2M |
| 总债务越低越好 | — | $7.5B |
| 股东权益账面价值 | $17.6B | $12.7B |
| 总资产 | $20.1B | $22.7B |
| 负债/权益比越低杠杆越低 | — | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资ISRGZBH
| Q1 26 | — | $424.2M | ||
| Q4 25 | $5.9B | $591.9M | ||
| Q3 25 | $4.9B | $1.3B | ||
| Q2 25 | $5.3B | $556.9M | ||
| Q1 25 | $4.5B | $1.4B | ||
| Q4 24 | $4.0B | $525.5M | ||
| Q3 24 | $4.2B | $569.0M | ||
| Q2 24 | $4.8B | $420.1M |
总债务ISRGZBH
| Q1 26 | — | $7.5B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ISRGZBH
| Q1 26 | $17.6B | $12.7B | ||
| Q4 25 | $17.8B | $12.7B | ||
| Q3 25 | $16.9B | $12.8B | ||
| Q2 25 | $17.8B | $12.5B | ||
| Q1 25 | $17.1B | $12.4B | ||
| Q4 24 | $16.4B | $12.5B | ||
| Q3 24 | $15.6B | $12.4B | ||
| Q2 24 | $14.7B | $12.7B |
总资产ISRGZBH
| Q1 26 | $20.1B | $22.7B | ||
| Q4 25 | $20.5B | $23.1B | ||
| Q3 25 | $19.4B | $23.5B | ||
| Q2 25 | $20.2B | $22.9B | ||
| Q1 25 | $19.2B | $22.2B | ||
| Q4 24 | $18.7B | $21.4B | ||
| Q3 24 | $17.7B | $21.7B | ||
| Q2 24 | $16.6B | $21.5B |
负债/权益比ISRGZBH
| Q1 26 | — | 0.59× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $359.4M |
| 自由现金流经营现金流 - 资本支出 | — | $245.9M |
| 自由现金流率自由现金流/营收 | — | 11.8% |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 1.51× |
| 过去12个月自由现金流最近4个季度 | — | $1.4B |
8季度趋势，按日历期对齐
经营现金流ISRGZBH
| Q1 26 | — | $359.4M | ||
| Q4 25 | $892.5M | $517.4M | ||
| Q3 25 | $841.0M | $418.7M | ||
| Q2 25 | $715.4M | $378.2M | ||
| Q1 25 | $581.6M | $382.8M | ||
| Q4 24 | $822.6M | $506.3M | ||
| Q3 24 | $706.5M | $395.7M | ||
| Q2 24 | $620.5M | $369.4M |
自由现金流ISRGZBH
| Q1 26 | — | $245.9M | ||
| Q4 25 | $730.0M | $442.6M | ||
| Q3 25 | $735.6M | $363.7M | ||
| Q2 25 | $560.1M | $328.1M | ||
| Q1 25 | $465.0M | $338.2M | ||
| Q4 24 | $510.6M | $454.8M | ||
| Q3 24 | $458.6M | $351.2M | ||
| Q2 24 | $311.1M | $316.7M |
自由现金流率ISRGZBH
| Q1 26 | — | 11.8% | ||
| Q4 25 | 25.5% | 19.7% | ||
| Q3 25 | 29.4% | 18.2% | ||
| Q2 25 | 23.0% | 15.8% | ||
| Q1 25 | 20.6% | 17.7% | ||
| Q4 24 | 21.2% | 22.5% | ||
| Q3 24 | 22.5% | 19.3% | ||
| Q2 24 | 15.5% | 16.3% |
资本支出强度ISRGZBH
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 3.3% | ||
| Q3 25 | 4.2% | 2.7% | ||
| Q2 25 | 6.4% | 2.4% | ||
| Q1 25 | 5.2% | 2.3% | ||
| Q4 24 | 12.9% | 2.5% | ||
| Q3 24 | 12.2% | 2.4% | ||
| Q2 24 | 15.4% | 2.7% |
现金转化率ISRGZBH
| Q1 26 | — | 1.51× | ||
| Q4 25 | 1.12× | 3.71× | ||
| Q3 25 | 1.19× | 1.81× | ||
| Q2 25 | 1.09× | 2.48× | ||
| Q1 25 | 0.83× | 2.10× | ||
| Q4 24 | 1.20× | 2.11× | ||
| Q3 24 | 1.25× | 1.59× | ||
| Q2 24 | 1.18× | 1.52× |
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
ISRG
| Instruments and accessories | $1.7B | 61% |
| Systems | $650.7M | 23% |
| Services | $433.7M | 16% |
ZBH
暂无分部数据
