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NATIONAL HEALTHCARE CORP（NHC）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
NATIONAL HEALTHCARE CORP的季度营收约是世纪互联的1.1倍（$386.5M vs $362.7M），NATIONAL HEALTHCARE CORP净利率更高（6.4% vs -10.7%，领先17.1%），NATIONAL HEALTHCARE CORP自由现金流更多（$6.4M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 14.0%）
HCA Healthcare是1968年成立的美国营利性医疗服务运营商，总部位于田纳西州纳什维尔。截至2020年5月，该公司在全美20个州及英国持有并运营186家医院，还有约2400个医疗服务网点，涵盖手术中心、独立急诊室、紧急护理中心及医师诊所，2024年位列美国财富500强第61位。
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。
NHC vs VNET — 直观对比
营收规模更大
NHC
是对方的1.1倍
$362.7M
净利率更高
NHC
高出17.1%
-10.7%
自由现金流更多
NHC
多$199.5M
$-193.1M
两年增速更快
VNET
近两年复合增速
14.0%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $386.5M | $362.7M |
| 净利润 | $24.8M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 8.6% | 0.5% |
| 净利率 | 6.4% | -10.7% |
| 营收同比 | 4.6% | — |
| 净利润同比 | 308.6% | — |
| 每股收益（稀释后） | $1.58 | — |
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NHCVNET
| Q4 25 | $386.5M | — | ||
| Q3 25 | $382.7M | $362.7M | ||
| Q2 25 | $374.9M | — | ||
| Q1 25 | $373.7M | $309.5M | ||
| Q4 24 | $369.4M | — | ||
| Q3 24 | $340.2M | $302.2M | ||
| Q2 24 | $300.7M | $274.4M | ||
| Q1 24 | $297.2M | $262.9M |
净利润NHCVNET
| Q4 25 | $24.8M | — | ||
| Q3 25 | $39.2M | $-38.7M | ||
| Q2 25 | $23.7M | — | ||
| Q1 25 | $32.2M | $-2.4M | ||
| Q4 24 | $6.1M | — | ||
| Q3 24 | $42.8M | $-2.1M | ||
| Q2 24 | $26.8M | $-1.1M | ||
| Q1 24 | $26.2M | $-22.0M |
毛利率NHCVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 21.6% |
营业利润率NHCVNET
| Q4 25 | 8.6% | — | ||
| Q3 25 | 7.9% | 0.5% | ||
| Q2 25 | 9.1% | — | ||
| Q1 25 | 8.2% | 0.1% | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 6.7% | 24.5% | ||
| Q2 24 | 7.5% | 0.2% | ||
| Q1 24 | 5.3% | 0.2% |
净利率NHCVNET
| Q4 25 | 6.4% | — | ||
| Q3 25 | 10.3% | -10.7% | ||
| Q2 25 | 6.3% | — | ||
| Q1 25 | 8.6% | -0.8% | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 12.6% | -0.7% | ||
| Q2 24 | 8.9% | -0.4% | ||
| Q1 24 | 8.8% | -8.4% |
每股收益（稀释后）NHCVNET
| Q4 25 | $1.58 | — | ||
| Q3 25 | $2.50 | — | ||
| Q2 25 | $1.52 | — | ||
| Q1 25 | $2.07 | — | ||
| Q4 24 | $0.38 | — | ||
| Q3 24 | $2.73 | — | ||
| Q2 24 | $1.73 | — | ||
| Q1 24 | $1.69 | — |
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 | $92.8M | $492.1M |
| 总债务越低越好 | $40.0M | — |
| 股东权益账面价值 | $1.1B | $890.8M |
| 总资产 | $1.5B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.04× | — |
8季度趋势，按日历期对齐
现金及短期投资NHCVNET
| Q4 25 | $92.8M | — | ||
| Q3 25 | $130.6M | $492.1M | ||
| Q2 25 | $111.0M | — | ||
| Q1 25 | $90.4M | $544.3M | ||
| Q4 24 | $76.1M | — | ||
| Q3 24 | $84.8M | $219.5M | ||
| Q2 24 | $136.2M | $247.2M | ||
| Q1 24 | $94.0M | $246.9M |
总债务NHCVNET
| Q4 25 | $40.0M | — | ||
| Q3 25 | $73.1M | — | ||
| Q2 25 | $110.0M | — | ||
| Q1 25 | $134.0M | — | ||
| Q4 24 | $137.0M | — | ||
| Q3 24 | $147.0M | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益NHCVNET
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | $890.8M | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.0B | $927.8M | ||
| Q4 24 | $980.2M | — | ||
| Q3 24 | $983.5M | $902.9M | ||
| Q2 24 | $945.8M | $900.6M | ||
| Q1 24 | $924.7M | $895.1M |
总资产NHCVNET
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.6B | $6.1B | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.5B | $5.4B | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.6B | $4.3B | ||
| Q2 24 | $1.3B | $4.0B | ||
| Q1 24 | $1.3B | $3.9B |
负债/权益比NHCVNET
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.07× | — | ||
| Q2 25 | 0.11× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.15× | 1.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $16.8M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $6.4M | $-193.1M |
| 自由现金流率自由现金流/营收 | 1.7% | -53.2% |
| 资本支出强度资本支出/营收 | 2.7% | 84.6% |
| 现金转化率经营现金流/净利润 | 0.68× | — |
| 过去12个月自由现金流最近4个季度 | $148.6M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流NHCVNET
| Q4 25 | $16.8M | — | ||
| Q3 25 | $66.2M | $113.8M | ||
| Q2 25 | $62.8M | — | ||
| Q1 25 | $39.3M | $27.0M | ||
| Q4 24 | $12.8M | — | ||
| Q3 24 | $34.2M | $108.3M | ||
| Q2 24 | $50.7M | $55.8M | ||
| Q1 24 | $9.6M | $37.1M |
自由现金流NHCVNET
| Q4 25 | $6.4M | — | ||
| Q3 25 | $56.5M | $-193.1M | ||
| Q2 25 | $52.6M | — | ||
| Q1 25 | $33.1M | $-220.0M | ||
| Q4 24 | $4.6M | — | ||
| Q3 24 | $28.6M | $-95.0M | ||
| Q2 24 | $42.8M | $-81.6M | ||
| Q1 24 | $3.7M | $-102.2M |
自由现金流率NHCVNET
| Q4 25 | 1.7% | — | ||
| Q3 25 | 14.8% | -53.2% | ||
| Q2 25 | 14.0% | — | ||
| Q1 25 | 8.9% | -71.1% | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 8.4% | -31.4% | ||
| Q2 24 | 14.2% | -29.8% | ||
| Q1 24 | 1.2% | -38.9% |
资本支出强度NHCVNET
| Q4 25 | 2.7% | — | ||
| Q3 25 | 2.5% | 84.6% | ||
| Q2 25 | 2.7% | — | ||
| Q1 25 | 1.6% | 79.8% | ||
| Q4 24 | 2.2% | — | ||
| Q3 24 | 1.7% | 67.3% | ||
| Q2 24 | 2.6% | 50.1% | ||
| Q1 24 | 2.0% | 53.0% |
现金转化率NHCVNET
| Q4 25 | 0.68× | — | ||
| Q3 25 | 1.69× | — | ||
| Q2 25 | 2.65× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | 2.10× | — | ||
| Q3 24 | 0.80× | — | ||
| Q2 24 | 1.89× | — | ||
| Q1 24 | 0.37× | — |
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
NHC
| Inpatient Services Segment | $333.7M | 86% |
| Homecare Services Segment | $40.0M | 10% |
| Other | $11.2M | 3% |
| National | $1.6M | 0% |
VNET
暂无分部数据
