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MSA Safety Inc（MSA）与Sanara MedTech Inc.（SMTI）财务数据对比。点击上方公司名可切换其他公司
MSA Safety Inc的季度营收约是Sanara MedTech Inc.的18.6倍（$510.9M vs $27.5M）。MSA Safety Inc净利率更高（17.0% vs -5.9%，领先22.9%）。Sanara MedTech Inc.同比增速更快（4.6% vs 2.2%）。MSA Safety Inc自由现金流更多（$106.0M vs $3.9M）。过去两年Sanara MedTech Inc.的营收复合增速更高（21.8% vs 11.2%）
MSA安全是美国专业安全设备生产供应商，面向建筑、军事、消防、化工、油气等存在高危作业场景的多个行业提供安全防护产品及解决方案，总部位于美国匹兹堡近郊的克兰伯里。
Sanara MedTech Inc.是一家总部位于美国的医疗科技企业，专注于研发、生产和销售外科手术、伤口护理、康复期护理类创新医疗产品，主要服务北美地区的医院、医疗机构及长期护理场所，旗下多款产品获FDA认证，旨在提升患者护理效果并降低医疗运营成本。
MSA vs SMTI — 直观对比
营收规模更大
MSA
是对方的18.6倍
$27.5M
营收增速更快
SMTI
高出2.4%
2.2%
净利率更高
MSA
高出22.9%
-5.9%
自由现金流更多
MSA
多$102.2M
$3.9M
两年增速更快
SMTI
近两年复合增速
11.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $510.9M | $27.5M |
| 净利润 | $86.9M | $-1.6M |
| 毛利率 | 46.9% | 93.2% |
| 营业利润率 | 22.3% | 23.5% |
| 净利率 | 17.0% | -5.9% |
| 营收同比 | 2.2% | 4.6% |
| 净利润同比 | -1.2% | 5.3% |
| 每股收益（稀释后） | $2.22 | $-0.32 |
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MSASMTI
| Q4 25 | $510.9M | $27.5M | ||
| Q3 25 | $468.4M | $26.3M | ||
| Q2 25 | $474.1M | $25.8M | ||
| Q1 25 | $421.3M | $23.4M | ||
| Q4 24 | $499.7M | $26.3M | ||
| Q3 24 | $432.7M | $21.7M | ||
| Q2 24 | $462.5M | $20.2M | ||
| Q1 24 | $413.3M | $18.5M |
净利润MSASMTI
| Q4 25 | $86.9M | $-1.6M | ||
| Q3 25 | $69.6M | $-30.4M | ||
| Q2 25 | $62.8M | $-2.0M | ||
| Q1 25 | $59.6M | $-3.5M | ||
| Q4 24 | $87.9M | $-1.7M | ||
| Q3 24 | $66.6M | $-2.9M | ||
| Q2 24 | $72.2M | $-3.5M | ||
| Q1 24 | $58.1M | $-1.8M |
毛利率MSASMTI
| Q4 25 | 46.9% | 93.2% | ||
| Q3 25 | 46.5% | 92.9% | ||
| Q2 25 | 46.6% | 92.5% | ||
| Q1 25 | 45.9% | 92.2% | ||
| Q4 24 | 46.9% | 91.4% | ||
| Q3 24 | 47.9% | 90.8% | ||
| Q2 24 | 48.2% | 90.0% | ||
| Q1 24 | 47.3% | 89.8% |
营业利润率MSASMTI
| Q4 25 | 22.3% | 23.5% | ||
| Q3 25 | 20.1% | 11.2% | ||
| Q2 25 | 18.1% | -0.1% | ||
| Q1 25 | 18.5% | -8.9% | ||
| Q4 24 | 23.5% | 18.6% | ||
| Q3 24 | 21.1% | 3.6% | ||
| Q2 24 | 21.6% | -14.3% | ||
| Q1 24 | 19.4% | -8.3% |
净利率MSASMTI
| Q4 25 | 17.0% | -5.9% | ||
| Q3 25 | 14.9% | -115.5% | ||
| Q2 25 | 13.2% | -7.8% | ||
| Q1 25 | 14.1% | -15.1% | ||
| Q4 24 | 17.6% | -6.5% | ||
| Q3 24 | 15.4% | -13.2% | ||
| Q2 24 | 15.6% | -17.4% | ||
| Q1 24 | 14.1% | -9.5% |
每股收益（稀释后）MSASMTI
| Q4 25 | $2.22 | $-0.32 | ||
| Q3 25 | $1.77 | $-3.40 | ||
| Q2 25 | $1.59 | $-0.23 | ||
| Q1 25 | $1.51 | $-0.41 | ||
| Q4 24 | $2.22 | $-0.18 | ||
| Q3 24 | $1.69 | $-0.34 | ||
| Q2 24 | $1.83 | $-0.41 | ||
| Q1 24 | $1.47 | $-0.21 |
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 | $165.1M | $16.6M |
| 总债务越低越好 | $580.9M | $46.0M |
| 股东权益账面价值 | $1.4B | $5.9M |
| 总资产 | $2.6B | $72.9M |
| 负债/权益比越低杠杆越低 | 0.42× | 7.74× |
8季度趋势，按日历期对齐
现金及短期投资MSASMTI
| Q4 25 | $165.1M | $16.6M | ||
| Q3 25 | $170.0M | $14.9M | ||
| Q2 25 | $147.0M | $17.0M | ||
| Q1 25 | $170.6M | $20.7M | ||
| Q4 24 | $164.6M | $15.9M | ||
| Q3 24 | $154.4M | $16.3M | ||
| Q2 24 | $146.8M | $6.2M | ||
| Q1 24 | $148.3M | $2.8M |
总债务MSASMTI
| Q4 25 | $580.9M | $46.0M | ||
| Q3 25 | $628.6M | $45.1M | ||
| Q2 25 | $679.3M | $44.2M | ||
| Q1 25 | $502.1M | $43.4M | ||
| Q4 24 | $508.0M | $30.7M | ||
| Q3 24 | $554.7M | $30.1M | ||
| Q2 24 | $588.2M | $14.4M | ||
| Q1 24 | $596.2M | $9.7M |
股东权益MSASMTI
| Q4 25 | $1.4B | $5.9M | ||
| Q3 25 | $1.3B | $6.1M | ||
| Q2 25 | $1.3B | $35.4M | ||
| Q1 25 | $1.2B | $36.7M | ||
| Q4 24 | $1.1B | $39.4M | ||
| Q3 24 | $1.1B | $39.8M | ||
| Q2 24 | $1.0B | $41.7M | ||
| Q1 24 | $994.8M | $43.3M |
总资产MSASMTI
| Q4 25 | $2.6B | $72.9M | ||
| Q3 25 | $2.6B | $71.1M | ||
| Q2 25 | $2.6B | $98.8M | ||
| Q1 25 | $2.2B | $96.4M | ||
| Q4 24 | $2.2B | $88.1M | ||
| Q3 24 | $2.2B | $88.5M | ||
| Q2 24 | $2.2B | $73.4M | ||
| Q1 24 | $2.2B | $70.9M |
负债/权益比MSASMTI
| Q4 25 | 0.42× | 7.74× | ||
| Q3 25 | 0.48× | 7.33× | ||
| Q2 25 | 0.54× | 1.25× | ||
| Q1 25 | 0.42× | 1.18× | ||
| Q4 24 | 0.44× | 0.78× | ||
| Q3 24 | 0.51× | 0.76× | ||
| Q2 24 | 0.57× | 0.34× | ||
| Q1 24 | 0.60× | 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 | $122.4M | $3.9M |
| 自由现金流经营现金流 - 资本支出 | $106.0M | $3.9M |
| 自由现金流率自由现金流/营收 | 20.8% | 14.0% |
| 资本支出强度资本支出/营收 | 3.2% | 0.3% |
| 现金转化率经营现金流/净利润 | 1.41× | — |
| 过去12个月自由现金流最近4个季度 | $295.4M | $2.2M |
8季度趋势，按日历期对齐
经营现金流MSASMTI
| Q4 25 | $122.4M | $3.9M | ||
| Q3 25 | $112.5M | $2.2M | ||
| Q2 25 | $67.2M | $2.7M | ||
| Q1 25 | $61.8M | $-2.0M | ||
| Q4 24 | $107.9M | $932.0K | ||
| Q3 24 | $84.3M | $2.1M | ||
| Q2 24 | $53.3M | $-1.4M | ||
| Q1 24 | $50.9M | $-1.6M |
自由现金流MSASMTI
| Q4 25 | $106.0M | $3.9M | ||
| Q3 25 | $100.5M | $1.1M | ||
| Q2 25 | $37.9M | $902.7K | ||
| Q1 25 | $51.0M | $-3.7M | ||
| Q4 24 | $93.5M | $859.9K | ||
| Q3 24 | $70.1M | $2.0M | ||
| Q2 24 | $39.0M | $-1.5M | ||
| Q1 24 | $39.7M | $-1.7M |
自由现金流率MSASMTI
| Q4 25 | 20.8% | 14.0% | ||
| Q3 25 | 21.4% | 4.2% | ||
| Q2 25 | 8.0% | 3.5% | ||
| Q1 25 | 12.1% | -15.9% | ||
| Q4 24 | 18.7% | 3.3% | ||
| Q3 24 | 16.2% | 9.4% | ||
| Q2 24 | 8.4% | -7.3% | ||
| Q1 24 | 9.6% | -9.0% |
资本支出强度MSASMTI
| Q4 25 | 3.2% | 0.3% | ||
| Q3 25 | 2.6% | 4.0% | ||
| Q2 25 | 6.2% | 6.8% | ||
| Q1 25 | 2.6% | 7.4% | ||
| Q4 24 | 2.9% | 0.3% | ||
| Q3 24 | 3.3% | 0.0% | ||
| Q2 24 | 3.1% | 0.3% | ||
| Q1 24 | 2.7% | 0.4% |
现金转化率MSASMTI
| Q4 25 | 1.41× | — | ||
| Q3 25 | 1.62× | — | ||
| Q2 25 | 1.07× | — | ||
| Q1 25 | 1.04× | — | ||
| Q4 24 | 1.23× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 0.74× | — | ||
| Q1 24 | 0.88× | — |
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
MSA
| Americas Segment | $335.2M | 66% |
| International Segment | $175.7M | 34% |
SMTI
| Soft Tissue Repair Products | $24.7M | 90% |
| Bone Fusion Products | $2.8M | 10% |
