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LivaNova PLC（LIVN）与TransMedics Group, Inc.（TMDX）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TransMedics Group, Inc.的2.2倍（$360.9M vs $160.8M）。TransMedics Group, Inc.净利率更高（65.6% vs 8.6%，领先57.0%）。TransMedics Group, Inc.同比增速更快（32.2% vs 12.1%）。LivaNova PLC自由现金流更多（$50.2M vs $19.0M）。过去两年TransMedics Group, Inc.的营收复合增速更高（28.8% 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。
TransMedics Group, Inc.是一家专注于器官移植领域的医疗科技企业，核心产品器官护理系统可在运输过程中维持捐献器官的活性，提升心、肺、肝、肾移植手术的成功率，服务覆盖北美、欧洲及亚太地区的移植中心与器官获取组织。
LIVN vs TMDX — 直观对比
营收规模更大
LIVN
是对方的2.2倍
$160.8M
营收增速更快
TMDX
高出20.0%
12.1%
净利率更高
TMDX
高出57.0%
8.6%
自由现金流更多
LIVN
多$31.2M
$19.0M
两年增速更快
TMDX
近两年复合增速
10.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $360.9M | $160.8M |
| 净利润 | $30.9M | $105.4M |
| 毛利率 | 65.2% | 58.1% |
| 营业利润率 | 11.8% | 13.2% |
| 净利率 | 8.6% | 65.6% |
| 营收同比 | 12.1% | 32.2% |
| 净利润同比 | -44.7% | 1436.9% |
| 每股收益（稀释后） | $0.57 | $2.59 |
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LIVNTMDX
| Q4 25 | $360.9M | $160.8M | ||
| Q3 25 | $357.8M | $143.8M | ||
| Q2 25 | $352.5M | $157.4M | ||
| Q1 25 | $316.9M | $143.5M | ||
| Q4 24 | $321.8M | $121.6M | ||
| Q3 24 | $318.1M | $108.8M | ||
| Q2 24 | $318.6M | $114.3M | ||
| Q1 24 | $294.9M | $96.8M |
净利润LIVNTMDX
| Q4 25 | $30.9M | $105.4M | ||
| Q3 25 | $26.8M | $24.3M | ||
| Q2 25 | $27.2M | $34.9M | ||
| Q1 25 | $-327.3M | $25.7M | ||
| Q4 24 | $55.9M | $6.9M | ||
| Q3 24 | $33.0M | $4.2M | ||
| Q2 24 | $16.3M | $12.2M | ||
| Q1 24 | $-41.9M | $12.2M |
毛利率LIVNTMDX
| Q4 25 | 65.2% | 58.1% | ||
| Q3 25 | 68.4% | 58.8% | ||
| Q2 25 | 67.8% | 61.4% | ||
| Q1 25 | 69.7% | 61.5% | ||
| Q4 24 | 68.2% | 59.2% | ||
| Q3 24 | 70.8% | 55.9% | ||
| Q2 24 | 68.7% | 60.6% | ||
| Q1 24 | 70.3% | 61.9% |
营业利润率LIVNTMDX
| Q4 25 | 11.8% | 13.2% | ||
| Q3 25 | 15.1% | 16.2% | ||
| Q2 25 | 15.4% | 23.2% | ||
| Q1 25 | 15.3% | 19.1% | ||
| Q4 24 | 11.5% | 7.1% | ||
| Q3 24 | 11.2% | 3.6% | ||
| Q2 24 | 12.6% | 10.9% | ||
| Q1 24 | 5.5% | 12.8% |
净利率LIVNTMDX
| Q4 25 | 8.6% | 65.6% | ||
| Q3 25 | 7.5% | 16.9% | ||
| Q2 25 | 7.7% | 22.2% | ||
| Q1 25 | -103.3% | 17.9% | ||
| Q4 24 | 17.4% | 5.6% | ||
| Q3 24 | 10.4% | 3.9% | ||
| Q2 24 | 5.1% | 10.7% | ||
| Q1 24 | -14.2% | 12.6% |
每股收益（稀释后）LIVNTMDX
| Q4 25 | $0.57 | $2.59 | ||
| Q3 25 | $0.49 | $0.66 | ||
| Q2 25 | $0.50 | $0.92 | ||
| Q1 25 | $-6.01 | $0.70 | ||
| Q4 24 | $1.04 | $0.19 | ||
| Q3 24 | $0.60 | $0.12 | ||
| Q2 24 | $0.30 | $0.35 | ||
| Q1 24 | $-0.78 | $0.35 |
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 | — |
| 总债务越低越好 | $376.1M | — |
| 股东权益账面价值 | $1.2B | $473.1M |
| 总资产 | $2.6B | $1.1B |
| 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LIVNTMDX
| Q4 25 | $635.6M | — | ||
| Q3 25 | $646.1M | — | ||
| Q2 25 | $593.6M | — | ||
| Q1 25 | $738.4M | — | ||
| Q4 24 | $428.9M | — | ||
| Q3 24 | $346.4M | $330.1M | ||
| Q2 24 | $329.2M | $362.8M | ||
| Q1 24 | $309.2M | $350.2M |
总债务LIVNTMDX
| Q4 25 | $376.1M | — | ||
| Q3 25 | $434.5M | — | ||
| Q2 25 | $430.6M | — | ||
| Q1 25 | $628.2M | — | ||
| Q4 24 | $627.0M | — | ||
| Q3 24 | $625.5M | — | ||
| Q2 24 | $624.5M | — | ||
| Q1 24 | $623.8M | — |
股东权益LIVNTMDX
| Q4 25 | $1.2B | $473.1M | ||
| Q3 25 | $1.2B | $355.2M | ||
| Q2 25 | $1.1B | $318.1M | ||
| Q1 25 | $1.0B | $266.3M | ||
| Q4 24 | $1.3B | $228.6M | ||
| Q3 24 | $1.3B | $209.9M | ||
| Q2 24 | $1.2B | $189.9M | ||
| Q1 24 | $1.2B | $159.5M |
总资产LIVNTMDX
| Q4 25 | $2.6B | $1.1B | ||
| Q3 25 | $2.6B | $946.0M | ||
| Q2 25 | $2.5B | $890.5M | ||
| Q1 25 | $2.6B | $837.5M | ||
| Q4 24 | $2.5B | $804.1M | ||
| Q3 24 | $2.5B | $785.6M | ||
| Q2 24 | $2.5B | $758.6M | ||
| Q1 24 | $2.5B | $723.8M |
负债/权益比LIVNTMDX
| Q4 25 | 0.31× | — | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 0.38× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | 0.47× | — | ||
| Q3 24 | 0.48× | — | ||
| Q2 24 | 0.50× | — | ||
| Q1 24 | 0.51× | — |
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 | $34.5M |
| 自由现金流经营现金流 - 资本支出 | $50.2M | $19.0M |
| 自由现金流率自由现金流/营收 | 13.9% | 11.8% |
| 资本支出强度资本支出/营收 | 8.9% | 9.7% |
| 现金转化率经营现金流/净利润 | 2.67× | 0.33× |
| 过去12个月自由现金流最近4个季度 | $173.3M | $133.6M |
8季度趋势，按日历期对齐
经营现金流LIVNTMDX
| Q4 25 | $82.4M | $34.5M | ||
| Q3 25 | $85.1M | $69.6M | ||
| Q2 25 | $62.9M | $91.6M | ||
| Q1 25 | $24.0M | $-2.9M | ||
| Q4 24 | $78.7M | $19.7M | ||
| Q3 24 | $51.0M | $6.9M | ||
| Q2 24 | $43.4M | $25.7M | ||
| Q1 24 | $10.0M | $-3.4M |
自由现金流LIVNTMDX
| Q4 25 | $50.2M | $19.0M | ||
| Q3 25 | $62.2M | $61.9M | ||
| Q2 25 | $47.8M | $82.5M | ||
| Q1 25 | $13.2M | $-29.9M | ||
| Q4 24 | $68.3M | $6.1M | ||
| Q3 24 | $32.8M | $-41.3M | ||
| Q2 24 | $31.2M | $2.0M | ||
| Q1 24 | $3.6M | $-47.6M |
自由现金流率LIVNTMDX
| Q4 25 | 13.9% | 11.8% | ||
| Q3 25 | 17.4% | 43.1% | ||
| Q2 25 | 13.6% | 52.4% | ||
| Q1 25 | 4.2% | -20.8% | ||
| Q4 24 | 21.2% | 5.0% | ||
| Q3 24 | 10.3% | -38.0% | ||
| Q2 24 | 9.8% | 1.7% | ||
| Q1 24 | 1.2% | -49.2% |
资本支出强度LIVNTMDX
| Q4 25 | 8.9% | 9.7% | ||
| Q3 25 | 6.4% | 5.3% | ||
| Q2 25 | 4.3% | 5.8% | ||
| Q1 25 | 3.4% | 18.8% | ||
| Q4 24 | 3.2% | 11.2% | ||
| Q3 24 | 5.7% | 44.3% | ||
| Q2 24 | 3.8% | 20.8% | ||
| Q1 24 | 2.2% | 45.6% |
现金转化率LIVNTMDX
| Q4 25 | 2.67× | 0.33× | ||
| Q3 25 | 3.18× | 2.86× | ||
| Q2 25 | 2.32× | 2.62× | ||
| Q1 25 | — | -0.11× | ||
| Q4 24 | 1.41× | 2.87× | ||
| Q3 24 | 1.55× | 1.63× | ||
| Q2 24 | 2.65× | 2.11× | ||
| Q1 24 | — | -0.28× |
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% |
TMDX
| Liver Product | $127.0M | 79% |
| Heart Product | $26.0M | 16% |
| Other | $5.9M | 4% |
| Lung Product | $1.9M | 1% |
