vs
高德纳（IT）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
高德纳的季度营收约是瑞思迈的1.2倍（$1.8B vs $1.4B），瑞思迈净利率更高（27.6% vs 13.8%，领先13.8%），瑞思迈同比增速更快（11.0% vs 2.2%），瑞思迈自由现金流更多（$311.2M vs $270.7M），过去两年高德纳的营收复合增速更高（9.1% vs 9.0%）
高德纳是美国专注于商业与科技领域的研究咨询机构，服务客户覆盖大型企业、政府机构、科技公司、投资机构等群体，通过输出研究报告、举办行业峰会、提供定制咨询等形式，为客户决策提供权威专业的洞见支撑。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
IT vs RMD — 直观对比
营收规模更大
IT
是对方的1.2倍
$1.4B
营收增速更快
RMD
高出8.8%
2.2%
净利率更高
RMD
高出13.8%
13.8%
自由现金流更多
RMD
多$40.5M
$270.7M
两年增速更快
IT
近两年复合增速
9.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.4B |
| 净利润 | $242.2M | $392.6M |
| 毛利率 | 67.8% | 61.8% |
| 营业利润率 | 19.1% | 34.6% |
| 净利率 | 13.8% | 27.6% |
| 营收同比 | 2.2% | 11.0% |
| 净利润同比 | -39.2% | 13.9% |
| 每股收益（稀释后） | $3.36 | $2.68 |
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ITRMD
| Q4 25 | $1.8B | $1.4B | ||
| Q3 25 | $1.5B | $1.3B | ||
| Q2 25 | $1.7B | $1.3B | ||
| Q1 25 | $1.5B | $1.3B | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.6B | $1.2B | ||
| Q1 24 | $1.5B | $1.2B |
净利润ITRMD
| Q4 25 | $242.2M | $392.6M | ||
| Q3 25 | $35.4M | $348.5M | ||
| Q2 25 | $240.8M | $379.7M | ||
| Q1 25 | $210.9M | $365.0M | ||
| Q4 24 | $398.6M | $344.6M | ||
| Q3 24 | $415.0M | $311.4M | ||
| Q2 24 | $229.5M | $292.2M | ||
| Q1 24 | $210.5M | $300.5M |
毛利率ITRMD
| Q4 25 | 67.8% | 61.8% | ||
| Q3 25 | 69.3% | 61.5% | ||
| Q2 25 | 68.6% | 60.8% | ||
| Q1 25 | 69.4% | 59.3% | ||
| Q4 24 | 66.8% | 58.6% | ||
| Q3 24 | 68.4% | 58.6% | ||
| Q2 24 | 68.6% | 58.5% | ||
| Q1 24 | 69.4% | 57.9% |
营业利润率ITRMD
| Q4 25 | 19.1% | 34.6% | ||
| Q3 25 | 5.7% | 33.4% | ||
| Q2 25 | 19.4% | 33.7% | ||
| Q1 25 | 18.1% | 33.0% | ||
| Q4 24 | 18.5% | 32.5% | ||
| Q3 24 | 16.6% | 31.6% | ||
| Q2 24 | 20.0% | 31.2% | ||
| Q1 24 | 18.6% | 31.3% |
净利率ITRMD
| Q4 25 | 13.8% | 27.6% | ||
| Q3 25 | 2.3% | 26.1% | ||
| Q2 25 | 14.3% | 28.2% | ||
| Q1 25 | 13.7% | 28.3% | ||
| Q4 24 | 23.2% | 26.9% | ||
| Q3 24 | 28.0% | 25.4% | ||
| Q2 24 | 14.4% | 23.9% | ||
| Q1 24 | 14.3% | 25.1% |
每股收益（稀释后）ITRMD
| Q4 25 | $3.36 | $2.68 | ||
| Q3 25 | $0.47 | $2.37 | ||
| Q2 25 | $3.11 | $2.58 | ||
| Q1 25 | $2.71 | $2.48 | ||
| Q4 24 | $5.08 | $2.34 | ||
| Q3 24 | $5.32 | $2.11 | ||
| Q2 24 | $2.93 | $1.97 | ||
| Q1 24 | $2.67 | $2.04 |
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 | $1.7B | $1.4B |
| 总债务越低越好 | — | $403.9M |
| 股东权益账面价值 | $319.9M | $6.3B |
| 总资产 | $8.1B | $8.5B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资ITRMD
| Q4 25 | $1.7B | $1.4B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.1B | $932.7M | ||
| Q4 24 | $1.9B | $521.9M | ||
| Q3 24 | $1.8B | $426.4M | ||
| Q2 24 | $1.2B | $238.4M | ||
| Q1 24 | $1.2B | $237.9M |
总债务ITRMD
| Q4 25 | — | $403.9M | ||
| Q3 25 | — | $408.7M | ||
| Q2 25 | — | $658.4M | ||
| Q1 25 | — | $663.1M | ||
| Q4 24 | — | $662.9M | ||
| Q3 24 | — | $667.6M | ||
| Q2 24 | — | $697.3M | ||
| Q1 24 | — | $997.0M |
股东权益ITRMD
| Q4 25 | $319.9M | $6.3B | ||
| Q3 25 | $556.6M | $6.1B | ||
| Q2 25 | $1.5B | $6.0B | ||
| Q1 25 | $1.5B | $5.5B | ||
| Q4 24 | $1.4B | $5.3B | ||
| Q3 24 | $1.1B | $5.2B | ||
| Q2 24 | $646.7M | $4.9B | ||
| Q1 24 | $718.2M | $4.6B |
总资产ITRMD
| Q4 25 | $8.1B | $8.5B | ||
| Q3 25 | $7.2B | $8.3B | ||
| Q2 25 | $8.3B | $8.2B | ||
| Q1 25 | $8.5B | $7.6B | ||
| Q4 24 | $8.5B | $7.1B | ||
| Q3 24 | $7.8B | $7.2B | ||
| Q2 24 | $7.4B | $6.9B | ||
| Q1 24 | $7.7B | $6.8B |
负债/权益比ITRMD
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.22× |
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 | $294.5M | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $270.7M | $311.2M |
| 自由现金流率自由现金流/营收 | 15.4% | 21.9% |
| 资本支出强度资本支出/营收 | 1.4% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.22× | 0.87× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $1.8B |
8季度趋势，按日历期对齐
经营现金流ITRMD
| Q4 25 | $294.5M | $339.7M | ||
| Q3 25 | $298.7M | $457.3M | ||
| Q2 25 | $383.6M | $538.8M | ||
| Q1 25 | $313.5M | $578.7M | ||
| Q4 24 | $335.4M | $308.6M | ||
| Q3 24 | $590.8M | $325.5M | ||
| Q2 24 | $370.0M | $440.1M | ||
| Q1 24 | $188.8M | $402.0M |
自由现金流ITRMD
| Q4 25 | $270.7M | $311.2M | ||
| Q3 25 | $269.3M | $414.4M | ||
| Q2 25 | $347.3M | $508.2M | ||
| Q1 25 | $287.9M | $557.9M | ||
| Q4 24 | $311.4M | $288.0M | ||
| Q3 24 | $565.0M | $307.7M | ||
| Q2 24 | $340.6M | $415.2M | ||
| Q1 24 | $166.2M | $380.8M |
自由现金流率ITRMD
| Q4 25 | 15.4% | 21.9% | ||
| Q3 25 | 17.7% | 31.0% | ||
| Q2 25 | 20.6% | 37.7% | ||
| Q1 25 | 18.8% | 43.2% | ||
| Q4 24 | 18.2% | 22.5% | ||
| Q3 24 | 38.1% | 25.1% | ||
| Q2 24 | 21.4% | 33.9% | ||
| Q1 24 | 11.3% | 31.8% |
资本支出强度ITRMD
| Q4 25 | 1.4% | 2.0% | ||
| Q3 25 | 1.9% | 3.2% | ||
| Q2 25 | 2.1% | 2.3% | ||
| Q1 25 | 1.7% | 1.6% | ||
| Q4 24 | 1.4% | 1.6% | ||
| Q3 24 | 1.7% | 1.5% | ||
| Q2 24 | 1.8% | 2.0% | ||
| Q1 24 | 1.5% | 1.8% |
现金转化率ITRMD
| Q4 25 | 1.22× | 0.87× | ||
| Q3 25 | 8.45× | 1.31× | ||
| Q2 25 | 1.59× | 1.42× | ||
| Q1 25 | 1.49× | 1.59× | ||
| Q4 24 | 0.84× | 0.90× | ||
| Q3 24 | 1.42× | 1.05× | ||
| Q2 24 | 1.61× | 1.51× | ||
| Q1 24 | 0.90× | 1.34× |
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
IT
| Transferred Over Time | $1.3B | 73% |
| Conferences | $286.2M | 16% |
| Consulting | $133.6M | 8% |
| Other | $52.3M | 3% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
