vs
美敦力（MDT）与美国合众银行（USB）财务数据对比。点击上方公司名可切换其他公司
美敦力的季度营收约是美国合众银行的1.2倍（$9.0B vs $7.4B），美国合众银行净利率更高（27.8% vs 12.8%，领先15.0%），美敦力同比增速更快（8.7% vs 5.1%），过去两年美国合众银行的营收复合增速更高（4.7% vs 2.5%）
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。
美国合众银行是美国跨国银行机构，总部位于明尼苏达州明尼阿波利斯，在特拉华州注册成立。截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为系统重要性机构，旗下核心运营主体提供银行、投资、按揭等多元金融服务。
MDT vs USB — 直观对比
营收规模更大
MDT
是对方的1.2倍
$7.4B
营收增速更快
MDT
高出3.7%
5.1%
净利率更高
USB
高出15.0%
12.8%
两年增速更快
USB
近两年复合增速
2.5%
损益表 — Q4 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.0B | $7.4B |
| 净利润 | $1.1B | $2.0B |
| 毛利率 | — | — |
| 营业利润率 | 16.2% | 34.4% |
| 净利率 | 12.8% | 27.8% |
| 营收同比 | 8.7% | 5.1% |
| 净利润同比 | -11.7% | 23.0% |
| 每股收益（稀释后） | $0.89 | $1.26 |
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MDTUSB
| Q1 26 | $9.0B | — | ||
| Q4 25 | $9.0B | $7.4B | ||
| Q3 25 | $8.6B | $7.3B | ||
| Q2 25 | $8.9B | $7.0B | ||
| Q1 25 | $8.3B | $7.0B | ||
| Q4 24 | $8.4B | $7.0B | ||
| Q3 24 | $7.9B | $6.9B | ||
| Q2 24 | $8.6B | $6.9B |
净利润MDTUSB
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.4B | $2.0B | ||
| Q3 25 | $1.0B | $2.0B | ||
| Q2 25 | $1.1B | $1.8B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.0B | $1.7B | ||
| Q2 24 | $654.0M | $1.6B |
毛利率MDTUSB
| Q1 26 | — | — | ||
| Q4 25 | 65.8% | — | ||
| Q3 25 | 65.0% | — | ||
| Q2 25 | 64.8% | — | ||
| Q1 25 | 66.5% | — | ||
| Q4 24 | 64.9% | — | ||
| Q3 24 | 65.1% | — | ||
| Q2 24 | 64.5% | — |
营业利润率MDTUSB
| Q1 26 | 16.2% | — | ||
| Q4 25 | 18.8% | 34.4% | ||
| Q3 25 | 16.8% | 34.5% | ||
| Q2 25 | 16.1% | 32.7% | ||
| Q1 25 | 19.9% | 31.0% | ||
| Q4 24 | 19.0% | 30.1% | ||
| Q3 24 | 16.1% | 30.2% | ||
| Q2 24 | 12.3% | 29.9% |
净利率MDTUSB
| Q1 26 | 12.8% | — | ||
| Q4 25 | 15.3% | 27.8% | ||
| Q3 25 | 12.1% | 27.3% | ||
| Q2 25 | 11.8% | 25.9% | ||
| Q1 25 | 15.6% | 24.6% | ||
| Q4 24 | 15.1% | 23.7% | ||
| Q3 24 | 13.2% | 25.0% | ||
| Q2 24 | 7.6% | 23.3% |
每股收益（稀释后）MDTUSB
| Q1 26 | $0.89 | — | ||
| Q4 25 | $1.07 | $1.26 | ||
| Q3 25 | $0.81 | $1.22 | ||
| Q2 25 | $0.81 | $1.11 | ||
| Q1 25 | $1.01 | $1.03 | ||
| Q4 24 | $0.99 | $1.01 | ||
| Q3 24 | $0.80 | $1.03 | ||
| Q2 24 | $0.50 | $0.97 |
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 | — | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $65.2B |
| 总资产 | — | $692.3B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MDTUSB
| Q1 26 | — | — | ||
| Q4 25 | $8.3B | — | ||
| Q3 25 | $8.1B | — | ||
| Q2 25 | $9.0B | — | ||
| Q1 25 | $7.9B | — | ||
| Q4 24 | $8.0B | — | ||
| Q3 24 | $7.8B | — | ||
| Q2 24 | $8.0B | — |
总债务MDTUSB
| Q1 26 | — | — | ||
| 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 | — |
股东权益MDTUSB
| Q1 26 | — | — | ||
| Q4 25 | $48.7B | $65.2B | ||
| Q3 25 | $47.9B | $63.3B | ||
| Q2 25 | $48.0B | $61.4B | ||
| Q1 25 | $49.4B | $60.1B | ||
| Q4 24 | $48.5B | $58.6B | ||
| Q3 24 | $47.9B | $58.9B | ||
| Q2 24 | $50.2B | $56.4B |
总资产MDTUSB
| Q1 26 | — | — | ||
| Q4 25 | $91.3B | $692.3B | ||
| Q3 25 | $91.0B | $695.4B | ||
| Q2 25 | $91.7B | $686.4B | ||
| Q1 25 | $90.0B | $676.5B | ||
| Q4 24 | $90.0B | $678.3B | ||
| Q3 24 | $89.7B | $686.5B | ||
| Q2 24 | $90.0B | $680.1B |
负债/权益比MDTUSB
| Q1 26 | — | — | ||
| 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× | — |
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 | $4.8B | $2.8B |
| 自由现金流经营现金流 - 资本支出 | $3.3B | — |
| 自由现金流率自由现金流/营收 | 37.1% | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 4.14× | 1.39× |
| 过去12个月自由现金流最近4个季度 | $6.5B | — |
8季度趋势，按日历期对齐
经营现金流MDTUSB
| Q1 26 | $4.8B | — | ||
| Q4 25 | $925.0M | $2.8B | ||
| Q3 25 | $1.1B | $3.4B | ||
| Q2 25 | $2.5B | $2.0B | ||
| Q1 25 | $2.6B | $-285.0M | ||
| Q4 24 | $958.0M | $4.8B | ||
| Q3 24 | $986.0M | $972.0M | ||
| Q2 24 | $2.8B | $2.9B |
自由现金流MDTUSB
| Q1 26 | $3.3B | — | ||
| Q4 25 | $457.0M | — | ||
| Q3 25 | $584.0M | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $554.0M | — | ||
| Q3 24 | $466.0M | — | ||
| Q2 24 | $2.4B | — |
自由现金流率MDTUSB
| Q1 26 | 37.1% | — | ||
| Q4 25 | 5.1% | — | ||
| Q3 25 | 6.8% | — | ||
| Q2 25 | 23.2% | — | ||
| Q1 25 | 25.3% | — | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 5.9% | — | ||
| Q2 24 | 27.4% | — |
资本支出强度MDTUSB
| Q1 26 | — | — | ||
| Q4 25 | 5.2% | — | ||
| Q3 25 | 5.9% | — | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 5.7% | — | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 6.6% | — | ||
| Q2 24 | 5.0% | — |
现金转化率MDTUSB
| Q1 26 | 4.14× | — | ||
| Q4 25 | 0.67× | 1.39× | ||
| Q3 25 | 1.05× | 1.69× | ||
| Q2 25 | 2.39× | 1.12× | ||
| Q1 25 | 1.99× | -0.17× | ||
| Q4 24 | 0.75× | 2.87× | ||
| Q3 24 | 0.95× | 0.57× | ||
| Q2 24 | 4.25× | 1.79× |
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
| Cardiovascular Portfolio | $3.5B | 38% |
| Neuroscience Portfolio | $2.6B | 28% |
| Medical Surgical Portfolio | $2.2B | 24% |
| Diabetes business | $796.0M | 9% |
USB
暂无分部数据
