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MERIT MEDICAL SYSTEMS INC（MMSI）与Park Hotels & Resorts Inc.（PK）财务数据对比。点击上方公司名可切换其他公司
Park Hotels & Resorts Inc.的季度营收约是MERIT MEDICAL SYSTEMS INC的1.6倍（$629.0M vs $393.9M），MERIT MEDICAL SYSTEMS INC净利率更高（9.6% vs -32.6%，领先42.2%），MERIT MEDICAL SYSTEMS INC同比增速更快（10.9% vs 0.6%），MERIT MEDICAL SYSTEMS INC自由现金流更多（$74.0M vs $-3.0M），过去两年MERIT MEDICAL SYSTEMS INC的营收复合增速更高（10.3% vs -0.8%）
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。
Park Hotels & Resorts是一家总部位于美国弗吉尼亚州泰森斯的房地产投资信托（REIT），核心业务为酒店物业投资运营。该企业于2017年从希尔顿全球集团分拆成立，在酒店不动产领域拥有专业的投资与管理经验。
MMSI vs PK — 直观对比
营收规模更大
PK
是对方的1.6倍
$393.9M
营收增速更快
MMSI
高出10.3%
0.6%
净利率更高
MMSI
高出42.2%
-32.6%
自由现金流更多
MMSI
多$77.0M
$-3.0M
两年增速更快
MMSI
近两年复合增速
-0.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $393.9M | $629.0M |
| 净利润 | $38.0M | $-205.0M |
| 毛利率 | 49.6% | — |
| 营业利润率 | 13.8% | -26.1% |
| 净利率 | 9.6% | -32.6% |
| 营收同比 | 10.9% | 0.6% |
| 净利润同比 | 36.0% | -410.6% |
| 每股收益（稀释后） | $0.64 | $-1.04 |
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MMSIPK
| Q4 25 | $393.9M | $629.0M | ||
| Q3 25 | $384.2M | $610.0M | ||
| Q2 25 | $382.5M | $672.0M | ||
| Q1 25 | $355.4M | $630.0M | ||
| Q4 24 | $355.2M | $625.0M | ||
| Q3 24 | $339.8M | $649.0M | ||
| Q2 24 | $338.0M | $686.0M | ||
| Q1 24 | $323.5M | $639.0M |
净利润MMSIPK
| Q4 25 | $38.0M | $-205.0M | ||
| Q3 25 | $27.8M | $-16.0M | ||
| Q2 25 | $32.6M | $-5.0M | ||
| Q1 25 | $30.1M | $-57.0M | ||
| Q4 24 | $27.9M | $66.0M | ||
| Q3 24 | $28.4M | $54.0M | ||
| Q2 24 | $35.7M | $64.0M | ||
| Q1 24 | $28.2M | $28.0M |
毛利率MMSIPK
| Q4 25 | 49.6% | — | ||
| Q3 25 | 48.5% | — | ||
| Q2 25 | 48.2% | — | ||
| Q1 25 | 48.4% | — | ||
| Q4 24 | 48.7% | — | ||
| Q3 24 | 46.4% | — | ||
| Q2 24 | 47.7% | — | ||
| Q1 24 | 46.9% | — |
营业利润率MMSIPK
| Q4 25 | 13.8% | -26.1% | ||
| Q3 25 | 11.1% | 9.7% | ||
| Q2 25 | 12.3% | 9.7% | ||
| Q1 25 | 11.5% | 1.1% | ||
| Q4 24 | 10.3% | 13.3% | ||
| Q3 24 | 11.0% | 14.6% | ||
| Q2 24 | 13.6% | 17.6% | ||
| Q1 24 | 11.1% | 14.4% |
净利率MMSIPK
| Q4 25 | 9.6% | -32.6% | ||
| Q3 25 | 7.2% | -2.6% | ||
| Q2 25 | 8.5% | -0.7% | ||
| Q1 25 | 8.5% | -9.0% | ||
| Q4 24 | 7.9% | 10.6% | ||
| Q3 24 | 8.4% | 8.3% | ||
| Q2 24 | 10.6% | 9.3% | ||
| Q1 24 | 8.7% | 4.4% |
每股收益（稀释后）MMSIPK
| Q4 25 | $0.64 | $-1.04 | ||
| Q3 25 | $0.46 | $-0.08 | ||
| Q2 25 | $0.54 | $-0.02 | ||
| Q1 25 | $0.49 | $-0.29 | ||
| Q4 24 | $0.46 | $0.32 | ||
| Q3 24 | $0.48 | $0.26 | ||
| Q2 24 | $0.61 | $0.30 | ||
| Q1 24 | $0.48 | $0.13 |
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 | $446.4M | $232.0M |
| 总债务越低越好 | $734.0M | $3.9B |
| 股东权益账面价值 | $1.6B | $3.1B |
| 总资产 | $2.7B | $7.7B |
| 负债/权益比越低杠杆越低 | 0.46× | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资MMSIPK
| Q4 25 | $446.4M | $232.0M | ||
| Q3 25 | $392.5M | $278.0M | ||
| Q2 25 | $341.8M | $319.0M | ||
| Q1 25 | $395.5M | $233.0M | ||
| Q4 24 | $376.7M | $402.0M | ||
| Q3 24 | $523.1M | $480.0M | ||
| Q2 24 | $636.7M | $449.0M | ||
| Q1 24 | $581.9M | $378.0M |
总债务MMSIPK
| Q4 25 | $734.0M | $3.9B | ||
| Q3 25 | $732.9M | $3.9B | ||
| Q2 25 | $731.8M | $3.9B | ||
| Q1 25 | $730.7M | $3.9B | ||
| Q4 24 | $729.6M | $3.9B | ||
| Q3 24 | $750.5M | $3.9B | ||
| Q2 24 | $801.3M | $3.9B | ||
| Q1 24 | $800.1M | $3.8B |
股东权益MMSIPK
| Q4 25 | $1.6B | $3.1B | ||
| Q3 25 | $1.5B | $3.4B | ||
| Q2 25 | $1.5B | $3.4B | ||
| Q1 25 | $1.4B | $3.5B | ||
| Q4 24 | $1.4B | $3.6B | ||
| Q3 24 | $1.3B | $3.8B | ||
| Q2 24 | $1.3B | $3.8B | ||
| Q1 24 | $1.2B | $3.8B |
总资产MMSIPK
| Q4 25 | $2.7B | $7.7B | ||
| Q3 25 | $2.6B | $8.8B | ||
| Q2 25 | $2.6B | $8.9B | ||
| Q1 25 | $2.5B | $8.9B | ||
| Q4 24 | $2.4B | $9.2B | ||
| Q3 24 | $2.4B | $9.2B | ||
| Q2 24 | $2.4B | $9.2B | ||
| Q1 24 | $2.3B | $9.1B |
负债/权益比MMSIPK
| Q4 25 | 0.46× | 1.23× | ||
| Q3 25 | 0.48× | 1.14× | ||
| Q2 25 | 0.49× | 1.12× | ||
| Q1 25 | 0.51× | 1.11× | ||
| Q4 24 | 0.53× | 1.06× | ||
| Q3 24 | 0.57× | 1.03× | ||
| Q2 24 | 0.62× | 1.03× | ||
| Q1 24 | 0.65× | 1.00× |
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 | $105.0M |
| 自由现金流经营现金流 - 资本支出 | $74.0M | $-3.0M |
| 自由现金流率自由现金流/营收 | 18.8% | -0.5% |
| 资本支出强度资本支出/营收 | 6.2% | 17.2% |
| 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 | $215.7M | $102.0M |
8季度趋势，按日历期对齐
经营现金流MMSIPK
| Q4 25 | $98.5M | $105.0M | ||
| Q3 25 | $75.0M | $99.0M | ||
| Q2 25 | $83.3M | $108.0M | ||
| Q1 25 | $40.6M | $86.0M | ||
| Q4 24 | $68.7M | $80.0M | ||
| Q3 24 | $47.3M | $140.0M | ||
| Q2 24 | $68.5M | $117.0M | ||
| Q1 24 | $36.2M | $92.0M |
自由现金流MMSIPK
| Q4 25 | $74.0M | $-3.0M | ||
| Q3 25 | $52.5M | $31.0M | ||
| Q2 25 | $69.6M | $65.0M | ||
| Q1 25 | $19.5M | $9.0M | ||
| Q4 24 | $65.3M | $17.0M | ||
| Q3 24 | $38.0M | $97.0M | ||
| Q2 24 | $57.9M | $66.0M | ||
| Q1 24 | $24.5M | $22.0M |
自由现金流率MMSIPK
| Q4 25 | 18.8% | -0.5% | ||
| Q3 25 | 13.7% | 5.1% | ||
| Q2 25 | 18.2% | 9.7% | ||
| Q1 25 | 5.5% | 1.4% | ||
| Q4 24 | 18.4% | 2.7% | ||
| Q3 24 | 11.2% | 14.9% | ||
| Q2 24 | 17.1% | 9.6% | ||
| Q1 24 | 7.6% | 3.4% |
资本支出强度MMSIPK
| Q4 25 | 6.2% | 17.2% | ||
| Q3 25 | 5.8% | 11.1% | ||
| Q2 25 | 3.6% | 6.4% | ||
| Q1 25 | 5.9% | 12.2% | ||
| Q4 24 | 1.0% | 10.1% | ||
| Q3 24 | 2.8% | 6.6% | ||
| Q2 24 | 3.1% | 7.4% | ||
| Q1 24 | 3.6% | 11.0% |
现金转化率MMSIPK
| Q4 25 | 2.59× | — | ||
| Q3 25 | 2.70× | — | ||
| Q2 25 | 2.56× | — | ||
| Q1 25 | 1.35× | — | ||
| Q4 24 | 2.46× | 1.21× | ||
| Q3 24 | 1.66× | 2.59× | ||
| Q2 24 | 1.92× | 1.83× | ||
| Q1 24 | 1.28× | 3.29× |
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
| 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% |
PK
| Occupancy | $371.0M | 59% |
| Food And Beverage | $173.0M | 28% |
| Ancillary Hotel | $61.0M | 10% |
| Hotel Other | $24.0M | 4% |
