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LifeStance Health Group, Inc.（LFST）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
LifeStance Health Group, Inc.的季度营收约是U S PHYSICAL THERAPY INC的1.9倍（$382.2M vs $202.7M）。LifeStance Health Group, Inc.净利率更高（3.1% vs 2.0%，领先1.0%）。LifeStance Health Group, Inc.同比增速更快（17.4% vs 12.3%）。LifeStance Health Group, Inc.自由现金流更多（$46.6M vs $21.0M）。过去两年U S PHYSICAL THERAPY INC的营收复合增速更高（14.1% vs 12.8%）
LifeStance Health Group是美国的门诊行为健康服务提供商，支持线下面诊与远程诊疗两种服务模式，业务涵盖心理咨询、精神科诊疗、经颅磁刺激（TMS）以及氯胺酮治疗等。该公司曾多次因劳动违规、客户信息泄露及误导投资者相关问题遭遇诉讼。
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。
LFST vs USPH — 直观对比
营收规模更大
LFST
是对方的1.9倍
$202.7M
营收增速更快
LFST
高出5.1%
12.3%
净利率更高
LFST
高出1.0%
2.0%
自由现金流更多
LFST
多$25.6M
$21.0M
两年增速更快
USPH
近两年复合增速
12.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $382.2M | $202.7M |
| 净利润 | $11.7M | $4.2M |
| 毛利率 | — | 19.8% |
| 营业利润率 | 4.7% | 8.3% |
| 净利率 | 3.1% | 2.0% |
| 营收同比 | 17.4% | 12.3% |
| 净利润同比 | 264.1% | -55.1% |
| 每股收益（稀释后） | — | $-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LFSTUSPH
| Q4 25 | $382.2M | $202.7M | ||
| Q3 25 | $363.8M | $197.1M | ||
| Q2 25 | $345.3M | $197.3M | ||
| Q1 25 | $333.0M | $183.8M | ||
| Q4 24 | $325.5M | $180.4M | ||
| Q3 24 | $312.7M | $168.0M | ||
| Q2 24 | $312.3M | $167.2M | ||
| Q1 24 | $300.4M | $155.7M |
净利润LFSTUSPH
| Q4 25 | $11.7M | $4.2M | ||
| Q3 25 | $1.1M | $13.1M | ||
| Q2 25 | $-3.8M | $12.4M | ||
| Q1 25 | $709.0K | $9.9M | ||
| Q4 24 | $-7.1M | $9.2M | ||
| Q3 24 | $-6.0M | $6.6M | ||
| Q2 24 | $-23.3M | $7.5M | ||
| Q1 24 | $-21.1M | $8.0M |
毛利率LFSTUSPH
| Q4 25 | — | 19.8% | ||
| Q3 25 | — | 18.7% | ||
| Q2 25 | — | 21.1% | ||
| Q1 25 | — | 16.9% | ||
| Q4 24 | — | 18.0% | ||
| Q3 24 | — | 17.3% | ||
| Q2 24 | — | 20.3% | ||
| Q1 24 | — | 18.2% |
营业利润率LFSTUSPH
| Q4 25 | 4.7% | 8.3% | ||
| Q3 25 | 2.0% | 12.8% | ||
| Q2 25 | -0.9% | 12.6% | ||
| Q1 25 | 0.5% | 10.7% | ||
| Q4 24 | 0.3% | 10.9% | ||
| Q3 24 | 0.0% | 7.6% | ||
| Q2 24 | -5.1% | 9.3% | ||
| Q1 24 | -5.6% | 9.6% |
净利率LFSTUSPH
| Q4 25 | 3.1% | 2.0% | ||
| Q3 25 | 0.3% | 6.7% | ||
| Q2 25 | -1.1% | 6.3% | ||
| Q1 25 | 0.2% | 5.4% | ||
| Q4 24 | -2.2% | 5.1% | ||
| Q3 24 | -1.9% | 3.9% | ||
| Q2 24 | -7.5% | 4.5% | ||
| Q1 24 | -7.0% | 5.2% |
每股收益（稀释后）LFSTUSPH
| Q4 25 | — | $-0.44 | ||
| Q3 25 | — | $0.48 | ||
| Q2 25 | — | $0.58 | ||
| Q1 25 | — | $0.80 | ||
| Q4 24 | — | $0.52 | ||
| Q3 24 | — | $0.39 | ||
| Q2 24 | — | $0.47 | ||
| Q1 24 | — | $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 | $248.6M | $35.6M |
| 总债务越低越好 | $282.8M | — |
| 股东权益账面价值 | $1.5B | $476.4M |
| 总资产 | $2.2B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.19× | — |
8季度趋势，按日历期对齐
现金及短期投资LFSTUSPH
| Q4 25 | $248.6M | $35.6M | ||
| Q3 25 | $203.9M | $31.1M | ||
| Q2 25 | $188.9M | $34.1M | ||
| Q1 25 | $134.3M | $39.2M | ||
| Q4 24 | $154.6M | $41.4M | ||
| Q3 24 | $102.6M | $117.0M | ||
| Q2 24 | $87.0M | $112.9M | ||
| Q1 24 | $49.5M | $132.3M |
总债务LFSTUSPH
| Q4 25 | $282.8M | — | ||
| Q3 25 | $284.6M | — | ||
| Q2 25 | $286.4M | — | ||
| Q1 25 | $288.2M | — | ||
| Q4 24 | $290.0M | — | ||
| Q3 24 | $287.3M | — | ||
| Q2 24 | $288.0M | — | ||
| Q1 24 | $288.8M | — |
股东权益LFSTUSPH
| Q4 25 | $1.5B | $476.4M | ||
| Q3 25 | $1.5B | $503.6M | ||
| Q2 25 | $1.5B | $500.8M | ||
| Q1 25 | $1.5B | $497.3M | ||
| Q4 24 | $1.4B | $488.9M | ||
| Q3 24 | $1.4B | $482.8M | ||
| Q2 24 | $1.4B | $484.6M | ||
| Q1 24 | $1.4B | $479.8M |
总资产LFSTUSPH
| Q4 25 | $2.2B | $1.2B | ||
| Q3 25 | $2.1B | $1.2B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $2.1B | $1.2B | ||
| Q4 24 | $2.1B | $1.2B | ||
| Q3 24 | $2.1B | $1.0B | ||
| Q2 24 | $2.1B | $1.0B | ||
| Q1 24 | $2.1B | $1.0B |
负债/权益比LFSTUSPH
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.19× | — | ||
| Q2 25 | 0.19× | — | ||
| Q1 25 | 0.20× | — | ||
| Q4 24 | 0.20× | — | ||
| Q3 24 | 0.20× | — | ||
| Q2 24 | 0.20× | — | ||
| Q1 24 | 0.20× | — |
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 | $57.6M | $24.9M |
| 自由现金流经营现金流 - 资本支出 | $46.6M | $21.0M |
| 自由现金流率自由现金流/营收 | 12.2% | 10.4% |
| 资本支出强度资本支出/营收 | 2.9% | 1.9% |
| 现金转化率经营现金流/净利润 | 4.93× | 6.00× |
| 过去12个月自由现金流最近4个季度 | $110.0M | $61.0M |
8季度趋势，按日历期对齐
经营现金流LFSTUSPH
| Q4 25 | $57.6M | $24.9M | ||
| Q3 25 | $27.3M | $19.9M | ||
| Q2 25 | $64.4M | $34.9M | ||
| Q1 25 | $-3.1M | $-4.7M | ||
| Q4 24 | $62.3M | $19.4M | ||
| Q3 24 | $22.7M | $22.1M | ||
| Q2 24 | $44.1M | $29.0M | ||
| Q1 24 | $-21.8M | $4.4M |
自由现金流LFSTUSPH
| Q4 25 | $46.6M | $21.0M | ||
| Q3 25 | $17.0M | $15.6M | ||
| Q2 25 | $56.6M | $31.6M | ||
| Q1 25 | $-10.3M | $-7.3M | ||
| Q4 24 | $56.0M | $16.9M | ||
| Q3 24 | $17.7M | $19.6M | ||
| Q2 24 | $39.0M | $26.7M | ||
| Q1 24 | $-26.9M | $2.6M |
自由现金流率LFSTUSPH
| Q4 25 | 12.2% | 10.4% | ||
| Q3 25 | 4.7% | 7.9% | ||
| Q2 25 | 16.4% | 16.0% | ||
| Q1 25 | -3.1% | -3.9% | ||
| Q4 24 | 17.2% | 9.4% | ||
| Q3 24 | 5.7% | 11.7% | ||
| Q2 24 | 12.5% | 15.9% | ||
| Q1 24 | -9.0% | 1.7% |
资本支出强度LFSTUSPH
| Q4 25 | 2.9% | 1.9% | ||
| Q3 25 | 2.8% | 2.2% | ||
| Q2 25 | 2.2% | 1.6% | ||
| Q1 25 | 2.2% | 1.4% | ||
| Q4 24 | 1.9% | 1.4% | ||
| Q3 24 | 1.6% | 1.5% | ||
| Q2 24 | 1.6% | 1.4% | ||
| Q1 24 | 1.7% | 1.2% |
现金转化率LFSTUSPH
| Q4 25 | 4.93× | 6.00× | ||
| Q3 25 | 25.34× | 1.52× | ||
| Q2 25 | — | 2.81× | ||
| Q1 25 | -4.36× | -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
LFST
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% |
