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美敦力（MDT）与美超微（SMCI）财务数据对比。点击上方公司名可切换其他公司
美超微的季度营收约是美敦力的1.4倍（$12.7B vs $9.0B），美敦力净利率更高（15.3% vs 3.2%，领先12.2%），美超微同比增速更快（123.4% vs 6.6%），美敦力自由现金流更多（$457.0M vs $-45.1M），过去两年美超微的营收复合增速更高（81.5% vs 5.3%）
美敦力是全球知名的医疗设备企业，法定及行政总部位于爱尔兰，运营总部设在美国明尼苏达州明尼阿波利斯。2015年集团收购爱尔兰企业柯惠后将注册地迁至爱尔兰，目前业务覆盖超150个国家，员工逾9万名，专注于研发生产各类医疗技术产品及治疗解决方案。
美超微是总部位于美国加利福尼亚州圣何塞的信息技术企业，是全球高性能、高能效服务器的主要生产商之一，同时面向企业数据中心、云计算、人工智能、5G、边缘计算等多领域客户提供服务器管理软件及存储系统解决方案。
MDT vs SMCI — 直观对比
营收规模更大
SMCI
是对方的1.4倍
$9.0B
营收增速更快
SMCI
高出116.7%
6.6%
净利率更高
MDT
高出12.2%
3.2%
自由现金流更多
MDT
多$502.1M
$-45.1M
两年增速更快
SMCI
近两年复合增速
5.3%
损益表 — Q2 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $9.0B | $12.7B |
| 净利润 | $1.4B | $400.6M |
| 毛利率 | 65.8% | 6.3% |
| 营业利润率 | 18.8% | 3.7% |
| 净利率 | 15.3% | 3.2% |
| 营收同比 | 6.6% | 123.4% |
| 净利润同比 | 8.2% | 24.9% |
| 每股收益（稀释后） | $1.07 | $0.60 |
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MDTSMCI
| Q4 25 | $9.0B | $12.7B | ||
| Q3 25 | $8.6B | $5.0B | ||
| Q2 25 | $8.9B | $5.8B | ||
| Q1 25 | $8.3B | $4.6B | ||
| Q4 24 | $8.4B | $5.7B | ||
| Q3 24 | $7.9B | $5.9B | ||
| Q2 24 | $8.6B | $5.4B | ||
| Q1 24 | $8.1B | $3.9B |
净利润MDTSMCI
| Q4 25 | $1.4B | $400.6M | ||
| Q3 25 | $1.0B | $168.3M | ||
| Q2 25 | $1.1B | $195.2M | ||
| Q1 25 | $1.3B | $108.8M | ||
| Q4 24 | $1.3B | $320.6M | ||
| Q3 24 | $1.0B | $424.3M | ||
| Q2 24 | $654.0M | $297.2M | ||
| Q1 24 | $1.3B | $402.5M |
毛利率MDTSMCI
| Q4 25 | 65.8% | 6.3% | ||
| Q3 25 | 65.0% | 9.3% | ||
| Q2 25 | 64.8% | 9.5% | ||
| Q1 25 | 66.5% | 9.6% | ||
| Q4 24 | 64.9% | 11.8% | ||
| Q3 24 | 65.1% | 13.1% | ||
| Q2 24 | 64.5% | 10.2% | ||
| Q1 24 | 65.6% | 15.5% |
营业利润率MDTSMCI
| Q4 25 | 18.8% | 3.7% | ||
| Q3 25 | 16.8% | 3.6% | ||
| Q2 25 | 16.1% | 4.0% | ||
| Q1 25 | 19.9% | 3.2% | ||
| Q4 24 | 19.0% | 6.5% | ||
| Q3 24 | 16.1% | 8.6% | ||
| Q2 24 | 12.3% | 5.4% | ||
| Q1 24 | 18.3% | 9.8% |
净利率MDTSMCI
| Q4 25 | 15.3% | 3.2% | ||
| Q3 25 | 12.1% | 3.4% | ||
| Q2 25 | 11.8% | 3.4% | ||
| Q1 25 | 15.6% | 2.4% | ||
| Q4 24 | 15.1% | 5.6% | ||
| Q3 24 | 13.2% | 7.1% | ||
| Q2 24 | 7.6% | 5.6% | ||
| Q1 24 | 16.3% | 10.5% |
每股收益（稀释后）MDTSMCI
| Q4 25 | $1.07 | $0.60 | ||
| Q3 25 | $0.81 | $0.26 | ||
| Q2 25 | $0.81 | $0.33 | ||
| Q1 25 | $1.01 | $0.17 | ||
| Q4 24 | $0.99 | $0.51 | ||
| Q3 24 | $0.80 | $0.67 | ||
| Q2 24 | $0.50 | $-12.49 | ||
| Q1 24 | $0.99 | $6.56 |
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 | $8.3B | $4.1B |
| 总债务越低越好 | $27.7B | — |
| 股东权益账面价值 | $48.7B | $7.0B |
| 总资产 | $91.3B | $28.0B |
| 负债/权益比越低杠杆越低 | 0.57× | — |
8季度趋势，按日历期对齐
现金及短期投资MDTSMCI
| Q4 25 | $8.3B | $4.1B | ||
| Q3 25 | $8.1B | $4.2B | ||
| Q2 25 | $9.0B | $5.2B | ||
| Q1 25 | $7.9B | $2.5B | ||
| Q4 24 | $8.0B | $1.4B | ||
| Q3 24 | $7.8B | $2.1B | ||
| Q2 24 | $8.0B | $1.7B | ||
| Q1 24 | $8.3B | $2.1B |
总债务MDTSMCI
| Q4 25 | $27.7B | — | ||
| Q3 25 | $26.2B | — | ||
| Q2 25 | $25.6B | — | ||
| Q1 25 | $24.0B | — | ||
| Q4 24 | $24.6B | — | ||
| Q3 24 | $26.3B | — | ||
| Q2 24 | $23.9B | — | ||
| Q1 24 | $24.2B | — |
股东权益MDTSMCI
| Q4 25 | $48.7B | $7.0B | ||
| Q3 25 | $47.9B | $6.5B | ||
| Q2 25 | $48.0B | $6.3B | ||
| Q1 25 | $49.4B | $6.4B | ||
| Q4 24 | $48.5B | $6.2B | ||
| Q3 24 | $47.9B | $5.9B | ||
| Q2 24 | $50.2B | $5.4B | ||
| Q1 24 | $51.8B | $5.1B |
总资产MDTSMCI
| Q4 25 | $91.3B | $28.0B | ||
| Q3 25 | $91.0B | $14.4B | ||
| Q2 25 | $91.7B | $14.0B | ||
| Q1 25 | $90.0B | $10.7B | ||
| Q4 24 | $90.0B | $9.7B | ||
| Q3 24 | $89.7B | $10.9B | ||
| Q2 24 | $90.0B | $9.8B | ||
| Q1 24 | $90.8B | $8.9B |
负债/权益比MDTSMCI
| Q4 25 | 0.57× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | 0.49× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.55× | — | ||
| Q2 24 | 0.48× | — | ||
| Q1 24 | 0.47× | — |
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 | $925.0M | $-23.9M |
| 自由现金流经营现金流 - 资本支出 | $457.0M | $-45.1M |
| 自由现金流率自由现金流/营收 | 5.1% | -0.4% |
| 资本支出强度资本支出/营收 | 5.2% | 0.2% |
| 现金转化率经营现金流/净利润 | 0.67× | -0.06× |
| 过去12个月自由现金流最近4个季度 | $5.2B | $440.1M |
8季度趋势，按日历期对齐
经营现金流MDTSMCI
| Q4 25 | $925.0M | $-23.9M | ||
| Q3 25 | $1.1B | $-917.5M | ||
| Q2 25 | $2.5B | $863.6M | ||
| Q1 25 | $2.6B | $626.8M | ||
| Q4 24 | $958.0M | $-239.8M | ||
| Q3 24 | $986.0M | $408.9M | ||
| Q2 24 | $2.8B | $-641.8M | ||
| Q1 24 | $2.5B | $-1.5B |
自由现金流MDTSMCI
| Q4 25 | $457.0M | $-45.1M | ||
| Q3 25 | $584.0M | $-949.8M | ||
| Q2 25 | $2.1B | $840.9M | ||
| Q1 25 | $2.1B | $594.1M | ||
| Q4 24 | $554.0M | $-267.3M | ||
| Q3 24 | $466.0M | $364.6M | ||
| Q2 24 | $2.4B | $-655.8M | ||
| Q1 24 | $2.1B | $-1.6B |
自由现金流率MDTSMCI
| Q4 25 | 5.1% | -0.4% | ||
| Q3 25 | 6.8% | -18.9% | ||
| Q2 25 | 23.2% | 14.6% | ||
| Q1 25 | 25.3% | 12.9% | ||
| Q4 24 | 6.6% | -4.7% | ||
| Q3 24 | 5.9% | 6.1% | ||
| Q2 24 | 27.4% | -12.2% | ||
| Q1 24 | 26.3% | -41.9% |
资本支出强度MDTSMCI
| Q4 25 | 5.2% | 0.2% | ||
| Q3 25 | 5.9% | 0.6% | ||
| Q2 25 | 5.1% | 0.4% | ||
| Q1 25 | 5.7% | 0.7% | ||
| Q4 24 | 4.8% | 0.5% | ||
| Q3 24 | 6.6% | 0.7% | ||
| Q2 24 | 5.0% | 0.3% | ||
| Q1 24 | 4.3% | 2.4% |
现金转化率MDTSMCI
| Q4 25 | 0.67× | -0.06× | ||
| Q3 25 | 1.05× | -5.45× | ||
| Q2 25 | 2.39× | 4.43× | ||
| Q1 25 | 1.99× | 5.76× | ||
| Q4 24 | 0.75× | -0.75× | ||
| Q3 24 | 0.95× | 0.96× | ||
| Q2 24 | 4.25× | -2.16× | ||
| Q1 24 | 1.87× | -3.78× |
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
MDT
| Cardiac Rhythm And Heart Failure Division | $1.8B | 20% |
| Surgical Endoscopy | $1.7B | 19% |
| Other | $1.3B | 14% |
| Structural Heart And Aortic Division | $956.0M | 11% |
| Diabetes Group | $757.0M | 8% |
| Specialty Therapies Division | $744.0M | 8% |
| Coronary And Peripheral Vascular Division | $655.0M | 7% |
| Neuromodulation Division | $520.0M | 6% |
| Acute Care Monitoring | $493.0M | 6% |
| IE | $35.0M | 0% |
SMCI
暂无分部数据
