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MERIT MEDICAL SYSTEMS INC（MMSI）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
MERIT MEDICAL SYSTEMS INC的季度营收约是世纪互联的1.1倍（$381.9M vs $362.7M），MERIT MEDICAL SYSTEMS INC净利率更高（10.7% vs -10.7%，领先21.4%），MERIT MEDICAL SYSTEMS INC自由现金流更多（$24.7M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% 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。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
MMSI vs VNET — 直观对比
营收规模更大
MMSI
是对方的1.1倍
$362.7M
净利率更高
MMSI
高出21.4%
-10.7%
自由现金流更多
MMSI
多$217.8M
$-193.1M
两年增速更快
VNET
近两年复合增速
6.3%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $381.9M | $362.7M |
| 净利润 | $41.0M | $-38.7M |
| 毛利率 | 48.4% | 20.9% |
| 营业利润率 | 11.6% | 0.5% |
| 净利率 | 10.7% | -10.7% |
| 营收同比 | 7.5% | — |
| 净利润同比 | 36.0% | — |
| 每股收益（稀释后） | $0.68 | — |
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MMSIVNET
| Q1 26 | $381.9M | — | ||
| Q4 25 | $393.9M | — | ||
| Q3 25 | $384.2M | $362.7M | ||
| Q2 25 | $382.5M | — | ||
| Q1 25 | $355.4M | $309.5M | ||
| Q4 24 | $355.2M | — | ||
| Q3 24 | $339.8M | $302.2M | ||
| Q2 24 | $338.0M | $274.4M |
净利润MMSIVNET
| Q1 26 | $41.0M | — | ||
| Q4 25 | $38.0M | — | ||
| Q3 25 | $27.8M | $-38.7M | ||
| Q2 25 | $32.6M | — | ||
| Q1 25 | $30.1M | $-2.4M | ||
| Q4 24 | $27.9M | — | ||
| Q3 24 | $28.4M | $-2.1M | ||
| Q2 24 | $35.7M | $-1.1M |
毛利率MMSIVNET
| Q1 26 | 48.4% | — | ||
| Q4 25 | 49.6% | — | ||
| Q3 25 | 48.5% | 20.9% | ||
| Q2 25 | 48.2% | — | ||
| Q1 25 | 48.4% | 25.2% | ||
| Q4 24 | 48.7% | — | ||
| Q3 24 | 46.4% | 23.2% | ||
| Q2 24 | 47.7% | 21.3% |
营业利润率MMSIVNET
| Q1 26 | 11.6% | — | ||
| Q4 25 | 13.8% | — | ||
| Q3 25 | 11.1% | 0.5% | ||
| Q2 25 | 12.3% | — | ||
| Q1 25 | 11.5% | 0.1% | ||
| Q4 24 | 10.3% | — | ||
| Q3 24 | 11.0% | 24.5% | ||
| Q2 24 | 13.6% | 0.2% |
净利率MMSIVNET
| Q1 26 | 10.7% | — | ||
| Q4 25 | 9.6% | — | ||
| Q3 25 | 7.2% | -10.7% | ||
| Q2 25 | 8.5% | — | ||
| Q1 25 | 8.5% | -0.8% | ||
| Q4 24 | 7.9% | — | ||
| Q3 24 | 8.4% | -0.7% | ||
| Q2 24 | 10.6% | -0.4% |
每股收益（稀释后）MMSIVNET
| Q1 26 | $0.68 | — | ||
| Q4 25 | $0.64 | — | ||
| Q3 25 | $0.46 | — | ||
| Q2 25 | $0.54 | — | ||
| Q1 25 | $0.49 | — | ||
| Q4 24 | $0.46 | — | ||
| Q3 24 | $0.48 | — | ||
| Q2 24 | $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 | $488.1M | $492.1M |
| 总债务越低越好 | $735.2M | — |
| 股东权益账面价值 | $1.6B | $890.8M |
| 总资产 | $2.7B | $6.1B |
| 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MMSIVNET
| Q1 26 | $488.1M | — | ||
| Q4 25 | $446.4M | — | ||
| Q3 25 | $392.5M | $492.1M | ||
| Q2 25 | $341.8M | — | ||
| Q1 25 | $395.5M | $544.3M | ||
| Q4 24 | $376.7M | — | ||
| Q3 24 | $523.1M | $219.5M | ||
| Q2 24 | $636.7M | $247.2M |
总债务MMSIVNET
| Q1 26 | $735.2M | — | ||
| Q4 25 | $734.0M | — | ||
| Q3 25 | $732.9M | — | ||
| Q2 25 | $731.8M | — | ||
| Q1 25 | $730.7M | — | ||
| Q4 24 | $729.6M | — | ||
| Q3 24 | $750.5M | $1.2B | ||
| Q2 24 | $801.3M | — |
股东权益MMSIVNET
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.5B | $890.8M | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.4B | $927.8M | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.3B | $902.9M | ||
| Q2 24 | $1.3B | $900.6M |
总资产MMSIVNET
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.6B | $6.1B | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.5B | $5.4B | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.4B | $4.3B | ||
| Q2 24 | $2.4B | $4.0B |
负债/权益比MMSIVNET
| Q1 26 | 0.45× | — | ||
| Q4 25 | 0.46× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.49× | — | ||
| Q1 25 | 0.51× | — | ||
| Q4 24 | 0.53× | — | ||
| Q3 24 | 0.57× | 1.28× | ||
| Q2 24 | 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 | — | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $24.7M | $-193.1M |
| 自由现金流率自由现金流/营收 | 6.5% | -53.2% |
| 资本支出强度资本支出/营收 | 4.2% | 84.6% |
| 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 | $-589.7M |
8季度趋势，按日历期对齐
经营现金流MMSIVNET
| Q1 26 | — | — | ||
| Q4 25 | $98.5M | — | ||
| Q3 25 | $75.0M | $113.8M | ||
| Q2 25 | $83.3M | — | ||
| Q1 25 | $40.6M | $27.0M | ||
| Q4 24 | $68.7M | — | ||
| Q3 24 | $47.3M | $108.3M | ||
| Q2 24 | $68.5M | $55.8M |
自由现金流MMSIVNET
| Q1 26 | $24.7M | — | ||
| Q4 25 | $74.0M | — | ||
| Q3 25 | $52.5M | $-193.1M | ||
| Q2 25 | $69.6M | — | ||
| Q1 25 | $19.5M | $-220.0M | ||
| Q4 24 | $65.3M | — | ||
| Q3 24 | $38.0M | $-95.0M | ||
| Q2 24 | $57.9M | $-81.6M |
自由现金流率MMSIVNET
| Q1 26 | 6.5% | — | ||
| Q4 25 | 18.8% | — | ||
| Q3 25 | 13.7% | -53.2% | ||
| Q2 25 | 18.2% | — | ||
| Q1 25 | 5.5% | -71.1% | ||
| Q4 24 | 18.4% | — | ||
| Q3 24 | 11.2% | -31.4% | ||
| Q2 24 | 17.1% | -29.8% |
资本支出强度MMSIVNET
| Q1 26 | 4.2% | — | ||
| Q4 25 | 6.2% | — | ||
| Q3 25 | 5.8% | 84.6% | ||
| Q2 25 | 3.6% | — | ||
| Q1 25 | 5.9% | 79.8% | ||
| Q4 24 | 1.0% | — | ||
| Q3 24 | 2.8% | 67.3% | ||
| Q2 24 | 3.1% | 50.1% |
现金转化率MMSIVNET
| 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
