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MAXIMUS, INC.（MMS）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
瑞思迈的季度营收约是MAXIMUS, INC.的1.1倍（$1.4B vs $1.3B），瑞思迈净利率更高（27.6% vs 7.0%，领先20.6%），瑞思迈同比增速更快（11.0% vs -4.1%），瑞思迈自由现金流更多（$311.2M vs $-250.7M），过去两年瑞思迈的营收复合增速更高（9.0% vs -0.1%）
MAXIMUS是美国一家政府服务企业，业务覆盖美国、加拿大、英国等国家，为医疗补助、联邦医疗保险、医改、就业帮扶、学生贷款服务等各类政府项目提供行政及配套服务。公司总部位于弗吉尼亚州泰森斯，现有员工3.96万名，2024财年营收达53亿美元。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
MMS vs RMD — 直观对比
营收规模更大
RMD
是对方的1.1倍
$1.3B
营收增速更快
RMD
高出15.1%
-4.1%
净利率更高
RMD
高出20.6%
7.0%
自由现金流更多
RMD
多$561.9M
$-250.7M
两年增速更快
RMD
近两年复合增速
-0.1%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.4B |
| 净利润 | $93.9M | $392.6M |
| 毛利率 | 23.7% | 61.8% |
| 营业利润率 | 10.9% | 34.6% |
| 净利率 | 7.0% | 27.6% |
| 营收同比 | -4.1% | 11.0% |
| 净利润同比 | 128.0% | 13.9% |
| 每股收益（稀释后） | $1.70 | $2.68 |
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MMSRMD
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.3B | $1.2B |
净利润MMSRMD
| Q4 25 | $93.9M | $392.6M | ||
| Q3 25 | $75.3M | $348.5M | ||
| Q2 25 | $106.0M | $379.7M | ||
| Q1 25 | $96.6M | $365.0M | ||
| Q4 24 | $41.2M | $344.6M | ||
| Q3 24 | $72.5M | $311.4M | ||
| Q2 24 | $89.8M | $292.2M | ||
| Q1 24 | $80.5M | $300.5M |
毛利率MMSRMD
| Q4 25 | 23.7% | 61.8% | ||
| Q3 25 | 25.3% | 61.5% | ||
| Q2 25 | 26.7% | 60.8% | ||
| Q1 25 | 24.9% | 59.3% | ||
| Q4 24 | 21.5% | 58.6% | ||
| Q3 24 | 22.9% | 58.6% | ||
| Q2 24 | 25.3% | 58.5% | ||
| Q1 24 | 23.6% | 57.9% |
营业利润率MMSRMD
| Q4 25 | 10.9% | 34.6% | ||
| Q3 25 | 9.3% | 33.4% | ||
| Q2 25 | 12.3% | 33.7% | ||
| Q1 25 | 11.2% | 33.0% | ||
| Q4 24 | 6.2% | 32.5% | ||
| Q3 24 | 8.5% | 31.6% | ||
| Q2 24 | 10.8% | 31.2% | ||
| Q1 24 | 9.5% | 31.3% |
净利率MMSRMD
| Q4 25 | 7.0% | 27.6% | ||
| Q3 25 | 5.7% | 26.1% | ||
| Q2 25 | 7.9% | 28.2% | ||
| Q1 25 | 7.1% | 28.3% | ||
| Q4 24 | 2.9% | 26.9% | ||
| Q3 24 | 5.5% | 25.4% | ||
| Q2 24 | 6.8% | 23.9% | ||
| Q1 24 | 6.0% | 25.1% |
每股收益（稀释后）MMSRMD
| Q4 25 | $1.70 | $2.68 | ||
| Q3 25 | $1.27 | $2.37 | ||
| Q2 25 | $1.86 | $2.58 | ||
| Q1 25 | $1.69 | $2.48 | ||
| Q4 24 | $0.69 | $2.34 | ||
| Q3 24 | $1.18 | $2.11 | ||
| Q2 24 | $1.46 | $1.97 | ||
| Q1 24 | $1.31 | $2.04 |
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 | $137.6M | $1.4B |
| 总债务越低越好 | — | $403.9M |
| 股东权益账面价值 | $1.7B | $6.3B |
| 总资产 | $4.2B | $8.5B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资MMSRMD
| Q4 25 | $137.6M | $1.4B | ||
| Q3 25 | $222.4M | $1.4B | ||
| Q2 25 | $59.8M | $1.2B | ||
| Q1 25 | $108.1M | $932.7M | ||
| Q4 24 | $72.7M | $521.9M | ||
| Q3 24 | $183.1M | $426.4M | ||
| Q2 24 | $102.8M | $238.4M | ||
| Q1 24 | $77.4M | $237.9M |
总债务MMSRMD
| Q4 25 | — | $403.9M | ||
| Q3 25 | — | $408.7M | ||
| Q2 25 | — | $658.4M | ||
| Q1 25 | — | $663.1M | ||
| Q4 24 | — | $662.9M | ||
| Q3 24 | — | $667.6M | ||
| Q2 24 | — | $697.3M | ||
| Q1 24 | — | $997.0M |
股东权益MMSRMD
| Q4 25 | $1.7B | $6.3B | ||
| Q3 25 | $1.7B | $6.1B | ||
| Q2 25 | $1.8B | $6.0B | ||
| Q1 25 | $1.7B | $5.5B | ||
| Q4 24 | $1.6B | $5.3B | ||
| Q3 24 | $1.8B | $5.2B | ||
| Q2 24 | $1.8B | $4.9B | ||
| Q1 24 | $1.8B | $4.6B |
总资产MMSRMD
| Q4 25 | $4.2B | $8.5B | ||
| Q3 25 | $4.1B | $8.3B | ||
| Q2 25 | $4.5B | $8.2B | ||
| Q1 25 | $4.2B | $7.6B | ||
| Q4 24 | $4.1B | $7.1B | ||
| Q3 24 | $4.1B | $7.2B | ||
| Q2 24 | $4.0B | $6.9B | ||
| Q1 24 | $4.0B | $6.8B |
负债/权益比MMSRMD
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.22× |
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 | $-244.4M | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $-250.7M | $311.2M |
| 自由现金流率自由现金流/营收 | -18.6% | 21.9% |
| 资本支出强度资本支出/营收 | 0.5% | 2.0% |
| 现金转化率经营现金流/净利润 | -2.60× | 0.87× |
| 过去12个月自由现金流最近4个季度 | $218.5M | $1.8B |
8季度趋势，按日历期对齐
经营现金流MMSRMD
| Q4 25 | $-244.4M | $339.7M | ||
| Q3 25 | $649.4M | $457.3M | ||
| Q2 25 | $-182.7M | $538.8M | ||
| Q1 25 | $42.7M | $578.7M | ||
| Q4 24 | $-80.0M | $308.6M | ||
| Q3 24 | $163.8M | $325.5M | ||
| Q2 24 | $199.3M | $440.1M | ||
| Q1 24 | $130.5M | $402.0M |
自由现金流MMSRMD
| Q4 25 | $-250.7M | $311.2M | ||
| Q3 25 | $641.8M | $414.4M | ||
| Q2 25 | $-198.2M | $508.2M | ||
| Q1 25 | $25.5M | $557.9M | ||
| Q4 24 | $-103.0M | $288.0M | ||
| Q3 24 | $131.9M | $307.7M | ||
| Q2 24 | $164.6M | $415.2M | ||
| Q1 24 | $105.2M | $380.8M |
自由现金流率MMSRMD
| Q4 25 | -18.6% | 21.9% | ||
| Q3 25 | 48.7% | 31.0% | ||
| Q2 25 | -14.7% | 37.7% | ||
| Q1 25 | 1.9% | 43.2% | ||
| Q4 24 | -7.3% | 22.5% | ||
| Q3 24 | 10.0% | 25.1% | ||
| Q2 24 | 12.5% | 33.9% | ||
| Q1 24 | 7.8% | 31.8% |
资本支出强度MMSRMD
| Q4 25 | 0.5% | 2.0% | ||
| Q3 25 | 0.6% | 3.2% | ||
| Q2 25 | 1.1% | 2.3% | ||
| Q1 25 | 1.3% | 1.6% | ||
| Q4 24 | 1.6% | 1.6% | ||
| Q3 24 | 2.4% | 1.5% | ||
| Q2 24 | 2.6% | 2.0% | ||
| Q1 24 | 1.9% | 1.8% |
现金转化率MMSRMD
| Q4 25 | -2.60× | 0.87× | ||
| Q3 25 | 8.63× | 1.31× | ||
| Q2 25 | -1.72× | 1.42× | ||
| Q1 25 | 0.44× | 1.59× | ||
| Q4 24 | -1.94× | 0.90× | ||
| Q3 24 | 2.26× | 1.05× | ||
| Q2 24 | 2.22× | 1.51× | ||
| Q1 24 | 1.62× | 1.34× |
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
MMS
| Clinical Services | $523.7M | 39% |
| Cost Plus Contracts | $386.4M | 29% |
| Outside The United States | $143.2M | 11% |
| International Government Agencies | $141.0M | 10% |
| Technology Solutions | $74.8M | 6% |
| Employment And Other | $70.2M | 5% |
| Other Including Local Municipalities And Commercial Customers | $17.6M | 1% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
