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LivaNova PLC（LIVN）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
LivaNova PLC的季度营收约是Rocket Lab Corp的1.8倍（$360.9M vs $200.3M），LivaNova PLC净利率更高（8.6% vs -22.5%，领先31.0%），Rocket Lab Corp同比增速更快（63.5% vs 12.1%），过去两年Rocket Lab Corp的营收复合增速更高（37.3% vs 10.6%）
LivaNova PLC是一家深耕医疗设备领域的企业，总部位于英国，核心业务为研发心脏外科及神经调控类医疗设备。该公司由美国Cyberonics公司与意大利Sorin公司于2015年以27亿美元对价合并成立，目前在纳斯达克挂牌交易，股票代码为LIVN。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
LIVN vs RKLB — 直观对比
营收规模更大
LIVN
是对方的1.8倍
$200.3M
营收增速更快
RKLB
高出51.3%
12.1%
净利率更高
LIVN
高出31.0%
-22.5%
两年增速更快
RKLB
近两年复合增速
10.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $360.9M | $200.3M |
| 净利润 | $30.9M | $-45.0M |
| 毛利率 | 65.2% | 38.2% |
| 营业利润率 | 11.8% | 33.9% |
| 净利率 | 8.6% | -22.5% |
| 营收同比 | 12.1% | 63.5% |
| 净利润同比 | -44.7% | — |
| 每股收益（稀释后） | $0.57 | — |
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LIVNRKLB
| Q1 26 | — | $200.3M | ||
| Q4 25 | $360.9M | $179.7M | ||
| Q3 25 | $357.8M | $155.1M | ||
| Q2 25 | $352.5M | $144.5M | ||
| Q1 25 | $316.9M | $122.6M | ||
| Q4 24 | $321.8M | $132.4M | ||
| Q3 24 | $318.1M | $104.8M | ||
| Q2 24 | $318.6M | $106.3M |
净利润LIVNRKLB
| Q1 26 | — | $-45.0M | ||
| Q4 25 | $30.9M | $-52.9M | ||
| Q3 25 | $26.8M | $-18.3M | ||
| Q2 25 | $27.2M | $-66.4M | ||
| Q1 25 | $-327.3M | $-60.6M | ||
| Q4 24 | $55.9M | $-52.3M | ||
| Q3 24 | $33.0M | $-51.9M | ||
| Q2 24 | $16.3M | $-41.6M |
毛利率LIVNRKLB
| Q1 26 | — | 38.2% | ||
| Q4 25 | 65.2% | 38.0% | ||
| Q3 25 | 68.4% | 37.0% | ||
| Q2 25 | 67.8% | 32.1% | ||
| Q1 25 | 69.7% | 28.8% | ||
| Q4 24 | 68.2% | 27.8% | ||
| Q3 24 | 70.8% | 26.7% | ||
| Q2 24 | 68.7% | 25.6% |
营业利润率LIVNRKLB
| Q1 26 | — | 33.9% | ||
| Q4 25 | 11.8% | -28.4% | ||
| Q3 25 | 15.1% | -38.0% | ||
| Q2 25 | 15.4% | -41.3% | ||
| Q1 25 | 15.3% | -48.3% | ||
| Q4 24 | 11.5% | -38.9% | ||
| Q3 24 | 11.2% | -49.5% | ||
| Q2 24 | 12.6% | -40.7% |
净利率LIVNRKLB
| Q1 26 | — | -22.5% | ||
| Q4 25 | 8.6% | -29.5% | ||
| Q3 25 | 7.5% | -11.8% | ||
| Q2 25 | 7.7% | -46.0% | ||
| Q1 25 | -103.3% | -49.5% | ||
| Q4 24 | 17.4% | -39.5% | ||
| Q3 24 | 10.4% | -49.6% | ||
| Q2 24 | 5.1% | -39.2% |
每股收益（稀释后）LIVNRKLB
| Q1 26 | — | — | ||
| Q4 25 | $0.57 | $-0.09 | ||
| Q3 25 | $0.49 | $-0.03 | ||
| Q2 25 | $0.50 | $-0.13 | ||
| Q1 25 | $-6.01 | $-0.12 | ||
| Q4 24 | $1.04 | $-0.11 | ||
| Q3 24 | $0.60 | $-0.10 | ||
| Q2 24 | $0.30 | $-0.08 |
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 | $635.6M | $1.2B |
| 总债务越低越好 | $376.1M | — |
| 股东权益账面价值 | $1.2B | $2.3B |
| 总资产 | $2.6B | $2.8B |
| 负债/权益比越低杠杆越低 | 0.31× | — |
8季度趋势，按日历期对齐
现金及短期投资LIVNRKLB
| Q1 26 | — | $1.2B | ||
| Q4 25 | $635.6M | $1.0B | ||
| Q3 25 | $646.1M | $976.7M | ||
| Q2 25 | $593.6M | $688.1M | ||
| Q1 25 | $738.4M | $428.4M | ||
| Q4 24 | $428.9M | $419.0M | ||
| Q3 24 | $346.4M | $442.4M | ||
| Q2 24 | $329.2M | $496.8M |
总债务LIVNRKLB
| Q1 26 | — | — | ||
| Q4 25 | $376.1M | $152.4M | ||
| Q3 25 | $434.5M | $347.0M | ||
| Q2 25 | $430.6M | $346.5M | ||
| Q1 25 | $628.2M | $345.9M | ||
| Q4 24 | $627.0M | $345.4M | ||
| Q3 24 | $625.5M | $61.2M | ||
| Q2 24 | $624.5M | $64.2M |
股东权益LIVNRKLB
| Q1 26 | — | $2.3B | ||
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.1B | $688.5M | ||
| Q1 25 | $1.0B | $431.3M | ||
| Q4 24 | $1.3B | $382.5M | ||
| Q3 24 | $1.3B | $419.8M | ||
| Q2 24 | $1.2B | $455.2M |
总资产LIVNRKLB
| Q1 26 | — | $2.8B | ||
| Q4 25 | $2.6B | $2.3B | ||
| Q3 25 | $2.6B | $2.2B | ||
| Q2 25 | $2.5B | $1.6B | ||
| Q1 25 | $2.6B | $1.3B | ||
| Q4 24 | $2.5B | $1.2B | ||
| Q3 24 | $2.5B | $1.2B | ||
| Q2 24 | $2.5B | $1.2B |
负债/权益比LIVNRKLB
| Q1 26 | — | — | ||
| Q4 25 | 0.31× | 0.09× | ||
| Q3 25 | 0.38× | 0.27× | ||
| Q2 25 | 0.38× | 0.50× | ||
| Q1 25 | 0.61× | 0.80× | ||
| Q4 24 | 0.47× | 0.90× | ||
| Q3 24 | 0.48× | 0.15× | ||
| Q2 24 | 0.50× | 0.14× |
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 | $82.4M | $-50.3M |
| 自由现金流经营现金流 - 资本支出 | $50.2M | — |
| 自由现金流率自由现金流/营收 | 13.9% | — |
| 资本支出强度资本支出/营收 | 8.9% | — |
| 现金转化率经营现金流/净利润 | 2.67× | — |
| 过去12个月自由现金流最近4个季度 | $173.3M | — |
8季度趋势，按日历期对齐
经营现金流LIVNRKLB
| Q1 26 | — | $-50.3M | ||
| Q4 25 | $82.4M | $-64.5M | ||
| Q3 25 | $85.1M | $-23.5M | ||
| Q2 25 | $62.9M | $-23.2M | ||
| Q1 25 | $24.0M | $-54.2M | ||
| Q4 24 | $78.7M | $-2.4M | ||
| Q3 24 | $51.0M | $-30.9M | ||
| Q2 24 | $43.4M | $-13.0M |
自由现金流LIVNRKLB
| Q1 26 | — | — | ||
| Q4 25 | $50.2M | $-114.2M | ||
| Q3 25 | $62.2M | $-69.4M | ||
| Q2 25 | $47.8M | $-55.3M | ||
| Q1 25 | $13.2M | $-82.9M | ||
| Q4 24 | $68.3M | $-23.9M | ||
| Q3 24 | $32.8M | $-41.9M | ||
| Q2 24 | $31.2M | $-28.3M |
自由现金流率LIVNRKLB
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | -63.6% | ||
| Q3 25 | 17.4% | -44.8% | ||
| Q2 25 | 13.6% | -38.3% | ||
| Q1 25 | 4.2% | -67.6% | ||
| Q4 24 | 21.2% | -18.1% | ||
| Q3 24 | 10.3% | -40.0% | ||
| Q2 24 | 9.8% | -26.7% |
资本支出强度LIVNRKLB
| Q1 26 | — | — | ||
| Q4 25 | 8.9% | 27.6% | ||
| Q3 25 | 6.4% | 29.6% | ||
| Q2 25 | 4.3% | 22.2% | ||
| Q1 25 | 3.4% | 23.4% | ||
| Q4 24 | 3.2% | 16.3% | ||
| Q3 24 | 5.7% | 10.5% | ||
| Q2 24 | 3.8% | 14.4% |
现金转化率LIVNRKLB
| Q1 26 | — | — | ||
| Q4 25 | 2.67× | — | ||
| Q3 25 | 3.18× | — | ||
| Q2 25 | 2.32× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.41× | — | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 2.65× | — |
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
LIVN
| Other | $169.4M | 47% |
| Neuromodulation Segment | $119.7M | 33% |
| Cardiopulmonary Segment | $71.8M | 20% |
RKLB
| Product revenues | $127.5M | 64% |
| Service revenues | $72.9M | 36% |
