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3M（MMM）与MERIT MEDICAL SYSTEMS INC（MMSI）财务数据对比。点击上方公司名可切换其他公司
3M的季度营收约是MERIT MEDICAL SYSTEMS INC的15.3倍（$6.0B vs $393.9M）。3M净利率更高（10.8% vs 9.6%，领先1.2%）。MERIT MEDICAL SYSTEMS INC同比增速更快（10.9% vs 1.3%）。3M自由现金流更多（$2.0B vs $74.0M）。过去两年MERIT MEDICAL SYSTEMS INC的营收复合增速更高（10.3% vs -1.8%）
3M是美国知名跨国综合企业，业务覆盖工业、劳动者安全防护、消费品等多个领域，总部位于圣保罗郊区的枫木市。公司现有超6万款产品，涵盖胶粘剂、研磨材料、防火防护产品、个人防护装备、窗膜、车漆保护膜、电子连接绝缘材料、汽车养护产品、光学膜等品类。
梅里特医疗系统公司是一家全球性医疗设备企业，设计、生产和销售适用于心脏病学、放射学、肿瘤学、内窥镜及重症监护领域的介入和诊断产品，为全球医院及医疗机构提供微创医疗解决方案，助力提升患者疗效和临床操作效率。
MMM vs MMSI — 直观对比
营收规模更大
MMM
是对方的15.3倍
$393.9M
营收增速更快
MMSI
高出9.6%
1.3%
净利率更高
MMM
高出1.2%
9.6%
自由现金流更多
MMM
多$2.0B
$74.0M
两年增速更快
MMSI
近两年复合增速
-1.8%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $393.9M |
| 净利润 | $653.0M | $38.0M |
| 毛利率 | 40.7% | 49.6% |
| 营业利润率 | 23.2% | 13.8% |
| 净利率 | 10.8% | 9.6% |
| 营收同比 | 1.3% | 10.9% |
| 净利润同比 | -41.5% | 36.0% |
| 每股收益（稀释后） | $1.23 | $0.64 |
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MMMMMSI
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.1B | $393.9M | ||
| Q3 25 | $6.5B | $384.2M | ||
| Q2 25 | $6.3B | $382.5M | ||
| Q1 25 | $6.0B | $355.4M | ||
| Q4 24 | $6.0B | $355.2M | ||
| Q3 24 | $6.3B | $339.8M | ||
| Q2 24 | $6.3B | $338.0M |
净利润MMMMMSI
| Q1 26 | $653.0M | — | ||
| Q4 25 | $577.0M | $38.0M | ||
| Q3 25 | $834.0M | $27.8M | ||
| Q2 25 | $723.0M | $32.6M | ||
| Q1 25 | $1.1B | $30.1M | ||
| Q4 24 | $728.0M | $27.9M | ||
| Q3 24 | $1.4B | $28.4M | ||
| Q2 24 | $1.1B | $35.7M |
毛利率MMMMMSI
| Q1 26 | 40.7% | — | ||
| Q4 25 | 33.6% | 49.6% | ||
| Q3 25 | 41.8% | 48.5% | ||
| Q2 25 | 42.5% | 48.2% | ||
| Q1 25 | 41.6% | 48.4% | ||
| Q4 24 | 51.7% | 48.7% | ||
| Q3 24 | 42.1% | 46.4% | ||
| Q2 24 | 42.9% | 47.7% |
营业利润率MMMMMSI
| Q1 26 | 23.2% | — | ||
| Q4 25 | 13.0% | 13.8% | ||
| Q3 25 | 22.2% | 11.1% | ||
| Q2 25 | 18.0% | 12.3% | ||
| Q1 25 | 20.9% | 11.5% | ||
| Q4 24 | 12.2% | 10.3% | ||
| Q3 24 | 20.9% | 11.0% | ||
| Q2 24 | 20.3% | 13.6% |
净利率MMMMMSI
| Q1 26 | 10.8% | — | ||
| Q4 25 | 9.4% | 9.6% | ||
| Q3 25 | 12.8% | 7.2% | ||
| Q2 25 | 11.4% | 8.5% | ||
| Q1 25 | 18.7% | 8.5% | ||
| Q4 24 | 12.1% | 7.9% | ||
| Q3 24 | 21.8% | 8.4% | ||
| Q2 24 | 18.3% | 10.6% |
每股收益（稀释后）MMMMMSI
| Q1 26 | $1.23 | — | ||
| Q4 25 | $1.07 | $0.64 | ||
| Q3 25 | $1.55 | $0.46 | ||
| Q2 25 | $1.34 | $0.54 | ||
| Q1 25 | $2.04 | $0.49 | ||
| Q4 24 | $1.33 | $0.46 | ||
| Q3 24 | $2.48 | $0.48 | ||
| Q2 24 | $2.07 | $0.61 |
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 | $3.7B | $446.4M |
| 总债务越低越好 | $10.9B | $734.0M |
| 股东权益账面价值 | $3.3B | $1.6B |
| 总资产 | $35.4B | $2.7B |
| 负债/权益比越低杠杆越低 | 3.29× | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资MMMMMSI
| Q1 26 | $3.7B | — | ||
| Q4 25 | — | $446.4M | ||
| Q3 25 | — | $392.5M | ||
| Q2 25 | — | $341.8M | ||
| Q1 25 | — | $395.5M | ||
| Q4 24 | — | $376.7M | ||
| Q3 24 | — | $523.1M | ||
| Q2 24 | — | $636.7M |
总债务MMMMMSI
| Q1 26 | $10.9B | — | ||
| Q4 25 | $12.6B | $734.0M | ||
| Q3 25 | $12.6B | $732.9M | ||
| Q2 25 | $13.1B | $731.8M | ||
| Q1 25 | $13.5B | $730.7M | ||
| Q4 24 | $13.0B | $729.6M | ||
| Q3 24 | $13.2B | $750.5M | ||
| Q2 24 | $13.1B | $801.3M |
股东权益MMMMMSI
| Q1 26 | $3.3B | — | ||
| Q4 25 | $4.7B | $1.6B | ||
| Q3 25 | $4.6B | $1.5B | ||
| Q2 25 | $4.3B | $1.5B | ||
| Q1 25 | $4.5B | $1.4B | ||
| Q4 24 | $3.8B | $1.4B | ||
| Q3 24 | $4.6B | $1.3B | ||
| Q2 24 | $3.9B | $1.3B |
总资产MMMMMSI
| Q1 26 | $35.4B | — | ||
| Q4 25 | $37.7B | $2.7B | ||
| Q3 25 | $37.6B | $2.6B | ||
| Q2 25 | $38.0B | $2.6B | ||
| Q1 25 | $40.0B | $2.5B | ||
| Q4 24 | $39.9B | $2.4B | ||
| Q3 24 | $40.9B | $2.4B | ||
| Q2 24 | $43.4B | $2.4B |
负债/权益比MMMMMSI
| Q1 26 | 3.29× | — | ||
| Q4 25 | 2.68× | 0.46× | ||
| Q3 25 | 2.72× | 0.48× | ||
| Q2 25 | 3.06× | 0.49× | ||
| Q1 25 | 3.02× | 0.51× | ||
| Q4 24 | 3.40× | 0.53× | ||
| Q3 24 | 2.84× | 0.57× | ||
| Q2 24 | 3.34× | 0.62× |
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 | — | $98.5M |
| 自由现金流经营现金流 - 资本支出 | $2.0B | $74.0M |
| 自由现金流率自由现金流/营收 | 33.6% | 18.8% |
| 资本支出强度资本支出/营收 | — | 6.2% |
| 现金转化率经营现金流/净利润 | — | 2.59× |
| 过去12个月自由现金流最近4个季度 | $3.7B | $215.7M |
8季度趋势，按日历期对齐
经营现金流MMMMMSI
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $98.5M | ||
| Q3 25 | $1.8B | $75.0M | ||
| Q2 25 | $-954.0M | $83.3M | ||
| Q1 25 | $-79.0M | $40.6M | ||
| Q4 24 | $1.8B | $68.7M | ||
| Q3 24 | $-1.8B | $47.3M | ||
| Q2 24 | $1.0B | $68.5M |
自由现金流MMMMMSI
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.3B | $74.0M | ||
| Q3 25 | $1.5B | $52.5M | ||
| Q2 25 | $-1.2B | $69.6M | ||
| Q1 25 | $-315.0M | $19.5M | ||
| Q4 24 | $1.5B | $65.3M | ||
| Q3 24 | $-2.0B | $38.0M | ||
| Q2 24 | $752.0M | $57.9M |
自由现金流率MMMMMSI
| Q1 26 | 33.6% | — | ||
| Q4 25 | 21.8% | 18.8% | ||
| Q3 25 | 23.6% | 13.7% | ||
| Q2 25 | -18.3% | 18.2% | ||
| Q1 25 | -5.3% | 5.5% | ||
| Q4 24 | 25.4% | 18.4% | ||
| Q3 24 | -32.3% | 11.2% | ||
| Q2 24 | 12.0% | 17.1% |
资本支出强度MMMMMSI
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 6.2% | ||
| Q3 25 | 3.3% | 5.8% | ||
| Q2 25 | 3.3% | 3.6% | ||
| Q1 25 | 4.0% | 5.9% | ||
| Q4 24 | 4.8% | 1.0% | ||
| Q3 24 | 3.9% | 2.8% | ||
| Q2 24 | 4.3% | 3.1% |
现金转化率MMMMMSI
| Q1 26 | — | — | ||
| Q4 25 | 2.74× | 2.59× | ||
| Q3 25 | 2.11× | 2.70× | ||
| Q2 25 | -1.32× | 2.56× | ||
| Q1 25 | -0.07× | 1.35× | ||
| Q4 24 | 2.50× | 2.46× | ||
| Q3 24 | -1.30× | 1.66× | ||
| Q2 24 | 0.89× | 1.92× |
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
MMM
| Safety and Industrial business segment | $2.9B | 49% |
| Transportation and Electronics business segment | $1.8B | 31% |
| Consumer business segment | $1.1B | 19% |
| Corporate | $121.0M | 2% |
MMSI
| Other | $154.6M | 39% |
| Peripheral Intervention | $93.2M | 24% |
| Cardiac Intervention | $50.2M | 13% |
| OEM | $42.6M | 11% |
| Custom Procedural Solutions | $33.1M | 8% |
| Endoscopy Segment | $20.1M | 5% |
