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KinderCare Learning Companies, Inc.（KLC）与Surgery Partners, Inc.（SGRY）财务数据对比。点击上方公司名可切换其他公司
Surgery Partners, Inc.的季度营收约是KinderCare Learning Companies, Inc.的1.3倍（$885.0M vs $676.8M），KinderCare Learning Companies, Inc.净利率更高（0.7% vs -1.7%，领先2.4%），Surgery Partners, Inc.同比增速更快（2.4% vs 0.8%），Surgery Partners, Inc.自由现金流更多（$90.6M vs $62.6M）
金德凯尔学习公司是1969年成立的美国营利性早教与托育机构运营商，总部位于俄勒冈州波特兰市，服务覆盖全美39个州及华盛顿哥伦比亚特区，目前在全美拥有超1250家教学点，在读儿童约20万人，面向出生6周至12岁的儿童提供教育项目，是俄勒冈州第三大私营企业。
Surgery Partners, Inc.（NASDAQ代码：SGRY）旗下的United Surgical Partners International（USPI）是美国领先的日间手术护理服务商，总部位于得克萨斯州达拉斯，由唐·斯廷于1998年创立，专注于为患者提供便捷、高效的门诊外科医疗服务，运营多家合规手术中心，覆盖美国多地医疗需求场景。
KLC vs SGRY — 直观对比
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $676.8M | $885.0M |
| 净利润 | $4.5M | $-15.0M |
| 毛利率 | — | — |
| 营业利润率 | 3.9% | 12.5% |
| 净利率 | 0.7% | -1.7% |
| 营收同比 | 0.8% | 2.4% |
| 净利润同比 | -67.4% | 86.2% |
| 每股收益（稀释后） | $0.04 | $-0.11 |
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
| Q4 25 | — | $885.0M | ||
| Q3 25 | $676.8M | $821.5M | ||
| Q2 25 | $700.1M | $826.2M | ||
| Q1 25 | $668.2M | $776.0M | ||
| Q4 24 | $647.0M | $864.4M | ||
| Q3 24 | $671.5M | $770.4M | ||
| Q2 24 | — | $762.1M | ||
| Q1 24 | — | $717.4M |
| Q4 25 | — | $-15.0M | ||
| Q3 25 | $4.5M | $-22.7M | ||
| Q2 25 | $38.6M | $-2.5M | ||
| Q1 25 | $21.2M | $-37.7M | ||
| Q4 24 | $-133.6M | $-108.5M | ||
| Q3 24 | $14.0M | $-31.7M | ||
| Q2 24 | — | $-15.5M | ||
| Q1 24 | — | $-12.4M |
| Q4 25 | — | 12.5% | ||
| Q3 25 | 3.9% | 12.9% | ||
| Q2 25 | 9.8% | 13.5% | ||
| Q1 25 | 7.3% | 8.0% | ||
| Q4 24 | -13.8% | 14.7% | ||
| Q3 24 | 8.1% | 7.9% | ||
| Q2 24 | — | 11.1% | ||
| Q1 24 | — | 10.6% |
| Q4 25 | — | -1.7% | ||
| Q3 25 | 0.7% | -2.8% | ||
| Q2 25 | 5.5% | -0.3% | ||
| Q1 25 | 3.2% | -4.9% | ||
| Q4 24 | -20.6% | -12.6% | ||
| Q3 24 | 2.1% | -4.1% | ||
| Q2 24 | — | -2.0% | ||
| Q1 24 | — | -1.7% |
| Q4 25 | — | $-0.11 | ||
| Q3 25 | $0.04 | $-0.18 | ||
| Q2 25 | $0.33 | $-0.02 | ||
| Q1 25 | $0.18 | $-0.30 | ||
| Q4 24 | $-1.17 | $-0.86 | ||
| Q3 24 | $0.15 | $-0.25 | ||
| Q2 24 | — | $-0.12 | ||
| Q1 24 | — | $-0.10 |
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 | $174.7M | $239.9M |
| 总债务越低越好 | $930.9M | $3.6B |
| 股东权益账面价值 | $931.2M | $1.7B |
| 总资产 | $3.9B | $8.1B |
| 负债/权益比越低杠杆越低 | 1.00× | 2.10× |
8季度趋势，按日历期对齐
| Q4 25 | — | $239.9M | ||
| Q3 25 | $174.7M | $203.4M | ||
| Q2 25 | $119.0M | $250.1M | ||
| Q1 25 | $131.3M | $229.3M | ||
| Q4 24 | $62.3M | $269.5M | ||
| Q3 24 | $137.2M | $221.8M | ||
| Q2 24 | — | $213.5M | ||
| Q1 24 | — | $185.2M |
| Q4 25 | — | $3.6B | ||
| Q3 25 | $930.9M | $3.5B | ||
| Q2 25 | $926.5M | $3.5B | ||
| Q1 25 | $927.4M | $3.4B | ||
| Q4 24 | $926.0M | $3.3B | ||
| Q3 24 | $1.5B | $3.1B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $2.8B |
| Q4 25 | — | $1.7B | ||
| Q3 25 | $931.2M | $1.7B | ||
| Q2 25 | $924.3M | $1.7B | ||
| Q1 25 | $884.9M | $1.7B | ||
| Q4 24 | $864.5M | $1.8B | ||
| Q3 24 | $235.6M | $1.9B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $2.0B |
| Q4 25 | — | $8.1B | ||
| Q3 25 | $3.9B | $7.9B | ||
| Q2 25 | $3.8B | $8.0B | ||
| Q1 25 | $3.7B | $7.9B | ||
| Q4 24 | $3.6B | $7.9B | ||
| Q3 24 | $3.7B | $7.5B | ||
| Q2 24 | — | $7.5B | ||
| Q1 24 | — | $7.0B |
| Q4 25 | — | 2.10× | ||
| Q3 25 | 1.00× | 2.00× | ||
| Q2 25 | 1.00× | 1.98× | ||
| Q1 25 | 1.05× | 1.98× | ||
| Q4 24 | 1.07× | 1.83× | ||
| Q3 24 | 6.42× | 1.63× | ||
| Q2 24 | — | 1.56× | ||
| Q1 24 | — | 1.42× |
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 | $100.8M | $103.4M |
| 自由现金流经营现金流 - 资本支出 | $62.6M | $90.6M |
| 自由现金流率自由现金流/营收 | 9.2% | 10.2% |
| 资本支出强度资本支出/营收 | 5.6% | 1.4% |
| 现金转化率经营现金流/净利润 | 22.15× | — |
| 过去12个月自由现金流最近4个季度 | — | $195.6M |
8季度趋势，按日历期对齐
| Q4 25 | — | $103.4M | ||
| Q3 25 | $100.8M | $83.6M | ||
| Q2 25 | $35.0M | $81.3M | ||
| Q1 25 | $98.4M | $6.0M | ||
| Q4 24 | — | $111.4M | ||
| Q3 24 | — | $65.2M | ||
| Q2 24 | — | $82.8M | ||
| Q1 24 | — | $40.7M |
| Q4 25 | — | $90.6M | ||
| Q3 25 | $62.6M | $63.8M | ||
| Q2 25 | $671.0K | $57.9M | ||
| Q1 25 | $75.1M | $-16.7M | ||
| Q4 24 | — | $89.1M | ||
| Q3 24 | — | $45.0M | ||
| Q2 24 | — | $55.9M | ||
| Q1 24 | — | $19.7M |
| Q4 25 | — | 10.2% | ||
| Q3 25 | 9.2% | 7.8% | ||
| Q2 25 | 0.1% | 7.0% | ||
| Q1 25 | 11.2% | -2.2% | ||
| Q4 24 | — | 10.3% | ||
| Q3 24 | — | 5.8% | ||
| Q2 24 | — | 7.3% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | 5.6% | 2.4% | ||
| Q2 25 | 4.9% | 2.8% | ||
| Q1 25 | 3.5% | 2.9% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 3.5% | ||
| Q1 24 | — | 2.9% |
| Q4 25 | — | — | ||
| Q3 25 | 22.15× | — | ||
| Q2 25 | 0.91× | — | ||
| Q1 25 | 4.65× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
KLC
| Early Childhood Education Centers | $627.0M | 93% |
| Before And After School Sites | $49.8M | 7% |
SGRY
| Private Insurance | $460.5M | 52% |
| Government Revenue | $368.6M | 42% |
| Other | $19.8M | 2% |
| Self Pay Revenue | $19.6M | 2% |
| Other Patient Service Revenue Sources | $16.5M | 2% |
