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NetApp（NTAP）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
NetApp的季度营收约是瑞思迈的1.2倍（$1.7B vs $1.4B），瑞思迈净利率更高（27.6% vs 17.9%，领先9.7%），瑞思迈同比增速更快（11.0% vs 2.8%），瑞思迈自由现金流更多（$311.2M vs $78.0M），过去两年瑞思迈的营收复合增速更高（9.0% vs 3.0%）
NetApp是总部位于美国加利福尼亚州圣何塞的企业级数据基础设施服务商，成立于1992年，2012至2021年连续入选《财富》世界500强。公司面向全球企业客户提供统一数据存储、集成数据服务及云运营解决方案，可满足线上线下全场景的应用与数据管理需求。
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。
NTAP vs RMD — 直观对比
营收规模更大
NTAP
是对方的1.2倍
$1.4B
营收增速更快
RMD
高出8.1%
2.8%
净利率更高
RMD
高出9.7%
17.9%
自由现金流更多
RMD
多$233.2M
$78.0M
两年增速更快
RMD
近两年复合增速
3.0%
损益表 — Q2 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.4B |
| 净利润 | $305.0M | $392.6M |
| 毛利率 | 72.0% | 61.8% |
| 营业利润率 | 23.4% | 34.6% |
| 净利率 | 17.9% | 27.6% |
| 营收同比 | 2.8% | 11.0% |
| 净利润同比 | 2.0% | 13.9% |
| 每股收益（稀释后） | $1.51 | $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NTAPRMD
| Q4 25 | $1.7B | $1.4B | ||
| Q3 25 | $1.6B | $1.3B | ||
| Q2 25 | $1.7B | $1.3B | ||
| Q1 25 | $1.6B | $1.3B | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.7B | $1.2B | ||
| Q1 24 | $1.6B | $1.2B |
净利润NTAPRMD
| Q4 25 | $305.0M | $392.6M | ||
| Q3 25 | $233.0M | $348.5M | ||
| Q2 25 | $340.0M | $379.7M | ||
| Q1 25 | $299.0M | $365.0M | ||
| Q4 24 | $299.0M | $344.6M | ||
| Q3 24 | $248.0M | $311.4M | ||
| Q2 24 | $291.0M | $292.2M | ||
| Q1 24 | $313.0M | $300.5M |
毛利率NTAPRMD
| Q4 25 | 72.0% | 61.8% | ||
| Q3 25 | 70.4% | 61.5% | ||
| Q2 25 | 68.9% | 60.8% | ||
| Q1 25 | 69.8% | 59.3% | ||
| Q4 24 | 71.0% | 58.6% | ||
| Q3 24 | 71.3% | 58.6% | ||
| Q2 24 | 70.5% | 58.5% | ||
| Q1 24 | 71.7% | 57.9% |
营业利润率NTAPRMD
| Q4 25 | 23.4% | 34.6% | ||
| Q3 25 | 19.8% | 33.4% | ||
| Q2 25 | 20.1% | 33.7% | ||
| Q1 25 | 22.1% | 33.0% | ||
| Q4 24 | 20.8% | 32.5% | ||
| Q3 24 | 18.3% | 31.6% | ||
| Q2 24 | 21.9% | 31.2% | ||
| Q1 24 | 22.8% | 31.3% |
净利率NTAPRMD
| Q4 25 | 17.9% | 27.6% | ||
| Q3 25 | 14.9% | 26.1% | ||
| Q2 25 | 19.6% | 28.2% | ||
| Q1 25 | 18.2% | 28.3% | ||
| Q4 24 | 18.0% | 26.9% | ||
| Q3 24 | 16.1% | 25.4% | ||
| Q2 24 | 17.4% | 23.9% | ||
| Q1 24 | 19.5% | 25.1% |
每股收益（稀释后）NTAPRMD
| Q4 25 | $1.51 | $2.68 | ||
| Q3 25 | $1.15 | $2.37 | ||
| Q2 25 | $1.64 | $2.58 | ||
| Q1 25 | $1.44 | $2.48 | ||
| Q4 24 | $1.42 | $2.34 | ||
| Q3 24 | $1.17 | $2.11 | ||
| Q2 24 | $1.36 | $1.97 | ||
| Q1 24 | $1.48 | $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 | $3.0B | $1.4B |
| 总债务越低越好 | $2.5B | $403.9M |
| 股东权益账面价值 | $986.0M | $6.3B |
| 总资产 | $9.6B | $8.5B |
| 负债/权益比越低杠杆越低 | 2.52× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资NTAPRMD
| Q4 25 | $3.0B | $1.4B | ||
| Q3 25 | $3.3B | $1.4B | ||
| Q2 25 | $3.8B | $1.2B | ||
| Q1 25 | $2.3B | $932.7M | ||
| Q4 24 | $2.2B | $521.9M | ||
| Q3 24 | $3.0B | $426.4M | ||
| Q2 24 | $3.3B | $238.4M | ||
| Q1 24 | $2.9B | $237.9M |
总债务NTAPRMD
| Q4 25 | $2.5B | $403.9M | ||
| Q3 25 | $2.5B | $408.7M | ||
| Q2 25 | $3.2B | $658.4M | ||
| Q1 25 | $2.0B | $663.1M | ||
| Q4 24 | $2.0B | $662.9M | ||
| Q3 24 | $2.4B | $667.6M | ||
| Q2 24 | $2.4B | $697.3M | ||
| Q1 24 | $2.4B | $997.0M |
股东权益NTAPRMD
| Q4 25 | $986.0M | $6.3B | ||
| Q3 25 | $975.0M | $6.1B | ||
| Q2 25 | $1.0B | $6.0B | ||
| Q1 25 | $995.0M | $5.5B | ||
| Q4 24 | $892.0M | $5.3B | ||
| Q3 24 | $929.0M | $5.2B | ||
| Q2 24 | $1.1B | $4.9B | ||
| Q1 24 | $994.0M | $4.6B |
总资产NTAPRMD
| Q4 25 | $9.6B | $8.5B | ||
| Q3 25 | $9.7B | $8.3B | ||
| Q2 25 | $10.8B | $8.2B | ||
| Q1 25 | $9.0B | $7.6B | ||
| Q4 24 | $9.0B | $7.1B | ||
| Q3 24 | $9.3B | $7.2B | ||
| Q2 24 | $9.9B | $6.9B | ||
| Q1 24 | $9.4B | $6.8B |
负债/权益比NTAPRMD
| Q4 25 | 2.52× | 0.06× | ||
| Q3 25 | 2.55× | 0.07× | ||
| Q2 25 | 3.11× | 0.11× | ||
| Q1 25 | 2.00× | 0.12× | ||
| Q4 24 | 2.23× | 0.13× | ||
| Q3 24 | 2.58× | 0.13× | ||
| Q2 24 | 2.09× | 0.14× | ||
| Q1 24 | 2.41× | 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 | $127.0M | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $78.0M | $311.2M |
| 自由现金流率自由现金流/营收 | 4.6% | 21.9% |
| 资本支出强度资本支出/营收 | 2.9% | 2.0% |
| 现金转化率经营现金流/净利润 | 0.42× | 0.87× |
| 过去12个月自由现金流最近4个季度 | — | $1.8B |
8季度趋势，按日历期对齐
经营现金流NTAPRMD
| Q4 25 | $127.0M | $339.7M | ||
| Q3 25 | $673.0M | $457.3M | ||
| Q2 25 | — | $538.8M | ||
| Q1 25 | $385.0M | $578.7M | ||
| Q4 24 | — | $308.6M | ||
| Q3 24 | $341.0M | $325.5M | ||
| Q2 24 | $613.0M | $440.1M | ||
| Q1 24 | $484.0M | $402.0M |
自由现金流NTAPRMD
| Q4 25 | $78.0M | $311.2M | ||
| Q3 25 | $620.0M | $414.4M | ||
| Q2 25 | — | $508.2M | ||
| Q1 25 | $338.0M | $557.9M | ||
| Q4 24 | — | $288.0M | ||
| Q3 24 | $300.0M | $307.7M | ||
| Q2 24 | $567.0M | $415.2M | ||
| Q1 24 | $448.0M | $380.8M |
自由现金流率NTAPRMD
| Q4 25 | 4.6% | 21.9% | ||
| Q3 25 | 39.8% | 31.0% | ||
| Q2 25 | — | 37.7% | ||
| Q1 25 | 20.6% | 43.2% | ||
| Q4 24 | — | 22.5% | ||
| Q3 24 | 19.5% | 25.1% | ||
| Q2 24 | 34.0% | 33.9% | ||
| Q1 24 | 27.9% | 31.8% |
资本支出强度NTAPRMD
| Q4 25 | 2.9% | 2.0% | ||
| Q3 25 | 3.4% | 3.2% | ||
| Q2 25 | — | 2.3% | ||
| Q1 25 | 2.9% | 1.6% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | 2.7% | 1.5% | ||
| Q2 24 | 2.8% | 2.0% | ||
| Q1 24 | 2.2% | 1.8% |
现金转化率NTAPRMD
| Q4 25 | 0.42× | 0.87× | ||
| Q3 25 | 2.89× | 1.31× | ||
| Q2 25 | — | 1.42× | ||
| Q1 25 | 1.29× | 1.59× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | 1.38× | 1.05× | ||
| Q2 24 | 2.11× | 1.51× | ||
| Q1 24 | 1.55× | 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
NTAP
| Products | $788.0M | 46% |
| Support | $647.0M | 38% |
| Public Cloud Segment | $171.0M | 10% |
| Professional And Other Services | $99.0M | 6% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
