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NCR Atleos Corp（NATL）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NCR Atleos Corp的1.2倍（$1.4B vs $1.2B），瑞思迈净利率更高（27.6% vs 7.2%，领先20.4%），瑞思迈同比增速更快（11.0% vs 4.0%），瑞思迈自由现金流更多（$311.2M vs $194.0M），过去两年瑞思迈的营收复合增速更高（9.0% vs 4.9%）
NCR Atleos Corp 前身为NCR公司（National Cash Register），是全球知名的软件、咨询与技术企业，提供多元专业服务与电子产品，业务覆盖自助服务 kiosk、销售点终端、自动柜员机、支票处理系统、条码扫描器等商用软硬件的研发与生产，服务全球各行业客户的数字化运营需求。
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。
NATL vs RMD — 直观对比
营收规模更大
RMD
是对方的1.2倍
$1.2B
营收增速更快
RMD
高出7.0%
4.0%
净利率更高
RMD
高出20.4%
7.2%
自由现金流更多
RMD
多$117.2M
$194.0M
两年增速更快
RMD
近两年复合增速
4.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.4B |
| 净利润 | $83.0M | $392.6M |
| 毛利率 | — | 61.8% |
| 营业利润率 | 13.5% | 34.6% |
| 净利率 | 7.2% | 27.6% |
| 营收同比 | 4.0% | 11.0% |
| 净利润同比 | 102.4% | 13.9% |
| 每股收益（稀释后） | $1.09 | $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NATLRMD
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $979.0M | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.0B | $1.2B |
净利润NATLRMD
| Q4 25 | $83.0M | $392.6M | ||
| Q3 25 | $26.0M | $348.5M | ||
| Q2 25 | $39.0M | $379.7M | ||
| Q1 25 | $14.0M | $365.0M | ||
| Q4 24 | $41.0M | $344.6M | ||
| Q3 24 | $21.0M | $311.4M | ||
| Q2 24 | $27.0M | $292.2M | ||
| Q1 24 | $-9.0M | $300.5M |
毛利率NATLRMD
| Q4 25 | — | 61.8% | ||
| Q3 25 | — | 61.5% | ||
| Q2 25 | — | 60.8% | ||
| Q1 25 | — | 59.3% | ||
| Q4 24 | — | 58.6% | ||
| Q3 24 | — | 58.6% | ||
| Q2 24 | — | 58.5% | ||
| Q1 24 | — | 57.9% |
营业利润率NATLRMD
| Q4 25 | 13.5% | 34.6% | ||
| Q3 25 | 9.8% | 33.4% | ||
| Q2 25 | 10.8% | 33.7% | ||
| Q1 25 | 9.5% | 33.0% | ||
| Q4 24 | 13.4% | 32.5% | ||
| Q3 24 | 10.6% | 31.6% | ||
| Q2 24 | 9.8% | 31.2% | ||
| Q1 24 | 6.5% | 31.3% |
净利率NATLRMD
| Q4 25 | 7.2% | 27.6% | ||
| Q3 25 | 2.3% | 26.1% | ||
| Q2 25 | 3.5% | 28.2% | ||
| Q1 25 | 1.4% | 28.3% | ||
| Q4 24 | 3.7% | 26.9% | ||
| Q3 24 | 2.0% | 25.4% | ||
| Q2 24 | 2.5% | 23.9% | ||
| Q1 24 | -0.9% | 25.1% |
每股收益（稀释后）NATLRMD
| Q4 25 | $1.09 | $2.68 | ||
| Q3 25 | $0.34 | $2.37 | ||
| Q2 25 | $0.52 | $2.58 | ||
| Q1 25 | $0.19 | $2.48 | ||
| Q4 24 | $0.56 | $2.34 | ||
| Q3 24 | $0.28 | $2.11 | ||
| Q2 24 | $0.37 | $1.97 | ||
| Q1 24 | $-0.13 | $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 | $456.0M | $1.4B |
| 总债务越低越好 | $2.7B | $403.9M |
| 股东权益账面价值 | $403.0M | $6.3B |
| 总资产 | $5.7B | $8.5B |
| 负债/权益比越低杠杆越低 | 6.63× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资NATLRMD
| Q4 25 | $456.0M | $1.4B | ||
| Q3 25 | $412.0M | $1.4B | ||
| Q2 25 | $357.0M | $1.2B | ||
| Q1 25 | $352.0M | $932.7M | ||
| Q4 24 | $419.0M | $521.9M | ||
| Q3 24 | $395.0M | $426.4M | ||
| Q2 24 | $374.0M | $238.4M | ||
| Q1 24 | $343.0M | $237.9M |
总债务NATLRMD
| Q4 25 | $2.7B | $403.9M | ||
| Q3 25 | $2.8B | $408.7M | ||
| Q2 25 | $2.8B | $658.4M | ||
| Q1 25 | — | $663.1M | ||
| Q4 24 | $2.9B | $662.9M | ||
| Q3 24 | — | $667.6M | ||
| Q2 24 | — | $697.3M | ||
| Q1 24 | — | $997.0M |
股东权益NATLRMD
| Q4 25 | $403.0M | $6.3B | ||
| Q3 25 | $330.0M | $6.1B | ||
| Q2 25 | $350.0M | $6.0B | ||
| Q1 25 | $275.0M | $5.5B | ||
| Q4 24 | $219.0M | $5.3B | ||
| Q3 24 | $264.0M | $5.2B | ||
| Q2 24 | $250.0M | $4.9B | ||
| Q1 24 | $283.0M | $4.6B |
总资产NATLRMD
| Q4 25 | $5.7B | $8.5B | ||
| Q3 25 | $5.7B | $8.3B | ||
| Q2 25 | $5.8B | $8.2B | ||
| Q1 25 | $5.7B | $7.6B | ||
| Q4 24 | $5.5B | $7.1B | ||
| Q3 24 | $5.7B | $7.2B | ||
| Q2 24 | $5.8B | $6.9B | ||
| Q1 24 | $5.8B | $6.8B |
负债/权益比NATLRMD
| Q4 25 | 6.63× | 0.06× | ||
| Q3 25 | 8.45× | 0.07× | ||
| Q2 25 | 8.05× | 0.11× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | 13.05× | 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 | $231.0M | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $194.0M | $311.2M |
| 自由现金流率自由现金流/营收 | 16.8% | 21.9% |
| 资本支出强度资本支出/营收 | 3.2% | 2.0% |
| 现金转化率经营现金流/净利润 | 2.78× | 0.87× |
| 过去12个月自由现金流最近4个季度 | $239.0M | $1.8B |
8季度趋势，按日历期对齐
经营现金流NATLRMD
| Q4 25 | $231.0M | $339.7M | ||
| Q3 25 | $25.0M | $457.3M | ||
| Q2 25 | $-23.0M | $538.8M | ||
| Q1 25 | $123.0M | $578.7M | ||
| Q4 24 | $80.0M | $308.6M | ||
| Q3 24 | $107.0M | $325.5M | ||
| Q2 24 | $9.0M | $440.1M | ||
| Q1 24 | $148.0M | $402.0M |
自由现金流NATLRMD
| Q4 25 | $194.0M | $311.2M | ||
| Q3 25 | $-5.0M | $414.4M | ||
| Q2 25 | $-44.0M | $508.2M | ||
| Q1 25 | $94.0M | $557.9M | ||
| Q4 24 | $62.0M | $288.0M | ||
| Q3 24 | $85.0M | $307.7M | ||
| Q2 24 | $-14.0M | $415.2M | ||
| Q1 24 | $124.0M | $380.8M |
自由现金流率NATLRMD
| Q4 25 | 16.8% | 21.9% | ||
| Q3 25 | -0.4% | 31.0% | ||
| Q2 25 | -4.0% | 37.7% | ||
| Q1 25 | 9.6% | 43.2% | ||
| Q4 24 | 5.6% | 22.5% | ||
| Q3 24 | 7.9% | 25.1% | ||
| Q2 24 | -1.3% | 33.9% | ||
| Q1 24 | 11.9% | 31.8% |
资本支出强度NATLRMD
| Q4 25 | 3.2% | 2.0% | ||
| Q3 25 | 2.7% | 3.2% | ||
| Q2 25 | 1.9% | 2.3% | ||
| Q1 25 | 3.0% | 1.6% | ||
| Q4 24 | 1.6% | 1.6% | ||
| Q3 24 | 2.1% | 1.5% | ||
| Q2 24 | 2.1% | 2.0% | ||
| Q1 24 | 2.3% | 1.8% |
现金转化率NATLRMD
| Q4 25 | 2.78× | 0.87× | ||
| Q3 25 | 0.96× | 1.31× | ||
| Q2 25 | -0.59× | 1.42× | ||
| Q1 25 | 8.79× | 1.59× | ||
| Q4 24 | 1.95× | 0.90× | ||
| Q3 24 | 5.10× | 1.05× | ||
| Q2 24 | 0.33× | 1.51× | ||
| Q1 24 | — | 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
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
