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MERIT MEDICAL SYSTEMS INC（MMSI）与Orthofix Medical Inc.（OFIX）财务数据对比。点击上方公司名可切换其他公司
MERIT MEDICAL SYSTEMS INC的季度营收约是Orthofix Medical Inc.的1.7倍（$381.9M vs $219.9M），MERIT MEDICAL SYSTEMS INC净利率更高（10.7% vs -1.0%，领先11.7%），MERIT MEDICAL SYSTEMS INC同比增速更快（7.5% vs 2.0%），MERIT MEDICAL SYSTEMS INC自由现金流更多（$24.7M vs $16.8M），过去两年Orthofix Medical Inc.的营收复合增速更高（8.0% vs 6.3%）
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。
Orthofix医疗是全球知名骨科医疗器械企业，专注于研发、生产及销售脊柱植入物、骨科创伤产品、骨生长刺激治疗设备及再生医疗产品，服务全球多地的骨科医师与医疗机构，致力于提升肌肉骨骼疾病患者的诊疗效果。
MMSI vs OFIX — 直观对比
营收规模更大
MMSI
是对方的1.7倍
$219.9M
营收增速更快
MMSI
高出5.5%
2.0%
净利率更高
MMSI
高出11.7%
-1.0%
自由现金流更多
MMSI
多$7.9M
$16.8M
两年增速更快
OFIX
近两年复合增速
6.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $381.9M | $219.9M |
| 净利润 | $41.0M | $-2.2M |
| 毛利率 | 48.4% | 71.1% |
| 营业利润率 | 11.6% | 0.2% |
| 净利率 | 10.7% | -1.0% |
| 营收同比 | 7.5% | 2.0% |
| 净利润同比 | 36.0% | 92.4% |
| 每股收益（稀释后） | $0.68 | $-0.05 |
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MMSIOFIX
| Q1 26 | $381.9M | — | ||
| Q4 25 | $393.9M | $219.9M | ||
| Q3 25 | $384.2M | $205.6M | ||
| Q2 25 | $382.5M | $203.1M | ||
| Q1 25 | $355.4M | $193.6M | ||
| Q4 24 | $355.2M | $215.7M | ||
| Q3 24 | $339.8M | $196.6M | ||
| Q2 24 | $338.0M | $198.6M |
净利润MMSIOFIX
| Q1 26 | $41.0M | — | ||
| Q4 25 | $38.0M | $-2.2M | ||
| Q3 25 | $27.8M | $-22.8M | ||
| Q2 25 | $32.6M | $-14.1M | ||
| Q1 25 | $30.1M | $-53.1M | ||
| Q4 24 | $27.9M | $-29.1M | ||
| Q3 24 | $28.4M | $-27.4M | ||
| Q2 24 | $35.7M | $-33.4M |
毛利率MMSIOFIX
| Q1 26 | 48.4% | — | ||
| Q4 25 | 49.6% | 71.1% | ||
| Q3 25 | 48.5% | 72.2% | ||
| Q2 25 | 48.2% | 68.7% | ||
| Q1 25 | 48.4% | 62.8% | ||
| Q4 24 | 48.7% | 69.0% | ||
| Q3 24 | 46.4% | 68.7% | ||
| Q2 24 | 47.7% | 67.8% |
营业利润率MMSIOFIX
| Q1 26 | 11.6% | — | ||
| Q4 25 | 13.8% | 0.2% | ||
| Q3 25 | 11.1% | -8.3% | ||
| Q2 25 | 12.3% | -7.9% | ||
| Q1 25 | 11.5% | -25.2% | ||
| Q4 24 | 10.3% | -5.3% | ||
| Q3 24 | 11.0% | -9.6% | ||
| Q2 24 | 13.6% | -12.5% |
净利率MMSIOFIX
| Q1 26 | 10.7% | — | ||
| Q4 25 | 9.6% | -1.0% | ||
| Q3 25 | 7.2% | -11.1% | ||
| Q2 25 | 8.5% | -6.9% | ||
| Q1 25 | 8.5% | -27.4% | ||
| Q4 24 | 7.9% | -13.5% | ||
| Q3 24 | 8.4% | -13.9% | ||
| Q2 24 | 10.6% | -16.8% |
每股收益（稀释后）MMSIOFIX
| Q1 26 | $0.68 | — | ||
| Q4 25 | $0.64 | $-0.05 | ||
| Q3 25 | $0.46 | $-0.57 | ||
| Q2 25 | $0.54 | $-0.36 | ||
| Q1 25 | $0.49 | $-1.35 | ||
| Q4 24 | $0.46 | $-0.76 | ||
| Q3 24 | $0.48 | $-0.71 | ||
| Q2 24 | $0.61 | $-0.88 |
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 | $488.1M | $82.0M |
| 总债务越低越好 | $735.2M | — |
| 股东权益账面价值 | $1.6B | $450.0M |
| 总资产 | $2.7B | $850.6M |
| 负债/权益比越低杠杆越低 | 0.45× | — |
8季度趋势，按日历期对齐
现金及短期投资MMSIOFIX
| Q1 26 | $488.1M | — | ||
| Q4 25 | $446.4M | $82.0M | ||
| Q3 25 | $392.5M | $62.9M | ||
| Q2 25 | $341.8M | $65.6M | ||
| Q1 25 | $395.5M | $58.0M | ||
| Q4 24 | $376.7M | $83.2M | ||
| Q3 24 | $523.1M | $30.1M | ||
| Q2 24 | $636.7M | $26.4M |
总债务MMSIOFIX
| Q1 26 | $735.2M | — | ||
| Q4 25 | $734.0M | — | ||
| Q3 25 | $732.9M | $157.2M | ||
| Q2 25 | $731.8M | $157.0M | ||
| Q1 25 | $730.7M | $156.9M | ||
| Q4 24 | $729.6M | $157.0M | ||
| Q3 24 | $750.5M | $118.5M | ||
| Q2 24 | $801.3M | $118.0M |
股东权益MMSIOFIX
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $450.0M | ||
| Q3 25 | $1.5B | $442.5M | ||
| Q2 25 | $1.5B | $458.3M | ||
| Q1 25 | $1.4B | $458.3M | ||
| Q4 24 | $1.4B | $503.1M | ||
| Q3 24 | $1.3B | $525.9M | ||
| Q2 24 | $1.3B | $546.0M |
总资产MMSIOFIX
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $850.6M | ||
| Q3 25 | $2.6B | $832.6M | ||
| Q2 25 | $2.6B | $837.2M | ||
| Q1 25 | $2.5B | $823.1M | ||
| Q4 24 | $2.4B | $893.3M | ||
| Q3 24 | $2.4B | $867.9M | ||
| Q2 24 | $2.4B | $882.0M |
负债/权益比MMSIOFIX
| Q1 26 | 0.45× | — | ||
| Q4 25 | 0.46× | — | ||
| Q3 25 | 0.48× | 0.36× | ||
| Q2 25 | 0.49× | 0.34× | ||
| Q1 25 | 0.51× | 0.34× | ||
| Q4 24 | 0.53× | 0.31× | ||
| Q3 24 | 0.57× | 0.23× | ||
| Q2 24 | 0.62× | 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 | — | $27.7M |
| 自由现金流经营现金流 - 资本支出 | $24.7M | $16.8M |
| 自由现金流率自由现金流/营收 | 6.5% | 7.6% |
| 资本支出强度资本支出/营收 | 4.2% | 4.9% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $220.8M | $-1.3M |
8季度趋势，按日历期对齐
经营现金流MMSIOFIX
| Q1 26 | — | — | ||
| Q4 25 | $98.5M | $27.7M | ||
| Q3 25 | $75.0M | $12.4M | ||
| Q2 25 | $83.3M | $11.6M | ||
| Q1 25 | $40.6M | $-18.4M | ||
| Q4 24 | $68.7M | $23.7M | ||
| Q3 24 | $47.3M | $11.7M | ||
| Q2 24 | $68.5M | $9.0M |
自由现金流MMSIOFIX
| Q1 26 | $24.7M | — | ||
| Q4 25 | $74.0M | $16.8M | ||
| Q3 25 | $52.5M | $2.5M | ||
| Q2 25 | $69.6M | $4.5M | ||
| Q1 25 | $19.5M | $-25.1M | ||
| Q4 24 | $65.3M | $15.2M | ||
| Q3 24 | $38.0M | $6.3M | ||
| Q2 24 | $57.9M | $-360.0K |
自由现金流率MMSIOFIX
| Q1 26 | 6.5% | — | ||
| Q4 25 | 18.8% | 7.6% | ||
| Q3 25 | 13.7% | 1.2% | ||
| Q2 25 | 18.2% | 2.2% | ||
| Q1 25 | 5.5% | -13.0% | ||
| Q4 24 | 18.4% | 7.0% | ||
| Q3 24 | 11.2% | 3.2% | ||
| Q2 24 | 17.1% | -0.2% |
资本支出强度MMSIOFIX
| Q1 26 | 4.2% | — | ||
| Q4 25 | 6.2% | 4.9% | ||
| Q3 25 | 5.8% | 4.8% | ||
| Q2 25 | 3.6% | 3.5% | ||
| Q1 25 | 5.9% | 3.5% | ||
| Q4 24 | 1.0% | 4.0% | ||
| Q3 24 | 2.8% | 2.7% | ||
| Q2 24 | 3.1% | 4.7% |
现金转化率MMSIOFIX
| Q1 26 | — | — | ||
| Q4 25 | 2.59× | — | ||
| Q3 25 | 2.70× | — | ||
| Q2 25 | 2.56× | — | ||
| Q1 25 | 1.35× | — | ||
| Q4 24 | 2.46× | — | ||
| Q3 24 | 1.66× | — | ||
| Q2 24 | 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
MMSI
暂无分部数据
OFIX
| Spinal Implants Biologics And Enabling Technologies | $113.6M | 52% |
| Bone Growth Therapies | $68.3M | 31% |
| Other | $22.7M | 10% |
| IT | $5.9M | 3% |
| GB | $3.5M | 2% |
| FR | $3.5M | 2% |
| DE | $2.3M | 1% |
