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Orthofix Medical Inc.（OFIX）与USA Compression Partners, LP（USAC）财务数据对比。点击上方公司名可切换其他公司
USA Compression Partners, LP的季度营收约是Orthofix Medical Inc.的1.1倍（$252.5M vs $219.9M），USA Compression Partners, LP净利率更高（11.0% vs -1.0%，领先12.0%），USA Compression Partners, LP同比增速更快（2.7% vs 2.0%），USA Compression Partners, LP自由现金流更多（$87.7M vs $16.8M），过去两年Orthofix Medical Inc.的营收复合增速更高（8.0% vs 4.9%）
Orthofix医疗是全球知名骨科医疗器械企业，专注于研发、生产及销售脊柱植入物、骨科创伤产品、骨生长刺激治疗设备及再生医疗产品，服务全球多地的骨科医师与医疗机构，致力于提升肌肉骨骼疾病患者的诊疗效果。
USA Compression Partners, LP是一家总部位于美国的天然气压缩服务供应商，服务覆盖油气行业上游、中游及下游领域，提供定制化压缩系统、设备维护与运营支持，助力天然气生产、加工和运输环节高效运转。
OFIX vs USAC — 直观对比
营收规模更大
USAC
是对方的1.1倍
$219.9M
营收增速更快
USAC
高出0.7%
2.0%
净利率更高
USAC
高出12.0%
-1.0%
自由现金流更多
USAC
多$70.9M
$16.8M
两年增速更快
OFIX
近两年复合增速
4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $219.9M | $252.5M |
| 净利润 | $-2.2M | $27.8M |
| 毛利率 | 71.1% | — |
| 营业利润率 | 0.2% | 30.3% |
| 净利率 | -1.0% | 11.0% |
| 营收同比 | 2.0% | 2.7% |
| 净利润同比 | 92.4% | 9.1% |
| 每股收益（稀释后） | $-0.05 | — |
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OFIXUSAC
| Q4 25 | $219.9M | $252.5M | ||
| Q3 25 | $205.6M | $250.3M | ||
| Q2 25 | $203.1M | $250.1M | ||
| Q1 25 | $193.6M | $245.2M | ||
| Q4 24 | $215.7M | $245.9M | ||
| Q3 24 | $196.6M | $240.0M | ||
| Q2 24 | $198.6M | $235.3M | ||
| Q1 24 | $188.6M | $229.3M |
净利润OFIXUSAC
| Q4 25 | $-2.2M | $27.8M | ||
| Q3 25 | $-22.8M | $34.5M | ||
| Q2 25 | $-14.1M | $28.6M | ||
| Q1 25 | $-53.1M | $20.5M | ||
| Q4 24 | $-29.1M | $25.4M | ||
| Q3 24 | $-27.4M | $19.3M | ||
| Q2 24 | $-33.4M | $31.2M | ||
| Q1 24 | $-36.0M | $23.6M |
毛利率OFIXUSAC
| Q4 25 | 71.1% | — | ||
| Q3 25 | 72.2% | — | ||
| Q2 25 | 68.7% | — | ||
| Q1 25 | 62.8% | — | ||
| Q4 24 | 69.0% | — | ||
| Q3 24 | 68.7% | — | ||
| Q2 24 | 67.8% | — | ||
| Q1 24 | 67.5% | — |
营业利润率OFIXUSAC
| Q4 25 | 0.2% | 30.3% | ||
| Q3 25 | -8.3% | 33.5% | ||
| Q2 25 | -7.9% | 30.6% | ||
| Q1 25 | -25.2% | 28.3% | ||
| Q4 24 | -5.3% | 30.3% | ||
| Q3 24 | -9.6% | 31.5% | ||
| Q2 24 | -12.5% | 32.9% | ||
| Q1 24 | -15.6% | 29.2% |
净利率OFIXUSAC
| Q4 25 | -1.0% | 11.0% | ||
| Q3 25 | -11.1% | 13.8% | ||
| Q2 25 | -6.9% | 11.4% | ||
| Q1 25 | -27.4% | 8.4% | ||
| Q4 24 | -13.5% | 10.3% | ||
| Q3 24 | -13.9% | 8.1% | ||
| Q2 24 | -16.8% | 13.3% | ||
| Q1 24 | -19.1% | 10.3% |
每股收益（稀释后）OFIXUSAC
| Q4 25 | $-0.05 | — | ||
| Q3 25 | $-0.57 | — | ||
| Q2 25 | $-0.36 | — | ||
| Q1 25 | $-1.35 | — | ||
| Q4 24 | $-0.76 | — | ||
| Q3 24 | $-0.71 | — | ||
| Q2 24 | $-0.88 | — | ||
| Q1 24 | $-0.95 | — |
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 | $82.0M | $8.6M |
| 总债务越低越好 | — | $2.5B |
| 股东权益账面价值 | $450.0M | — |
| 总资产 | $850.6M | $2.6B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资OFIXUSAC
| Q4 25 | $82.0M | $8.6M | ||
| Q3 25 | $62.9M | — | ||
| Q2 25 | $65.6M | $2.0K | ||
| Q1 25 | $58.0M | $2.0K | ||
| Q4 24 | $83.2M | $14.0K | ||
| Q3 24 | $30.1M | $79.0K | ||
| Q2 24 | $26.4M | $9.0K | ||
| Q1 24 | $27.0M | $8.0K |
总债务OFIXUSAC
| Q4 25 | — | $2.5B | ||
| Q3 25 | $157.2M | $2.5B | ||
| Q2 25 | $157.0M | $2.5B | ||
| Q1 25 | $156.9M | $2.5B | ||
| Q4 24 | $157.0M | $2.5B | ||
| Q3 24 | $118.5M | $2.5B | ||
| Q2 24 | $118.0M | $2.5B | ||
| Q1 24 | $118.2M | $2.5B |
股东权益OFIXUSAC
| Q4 25 | $450.0M | — | ||
| Q3 25 | $442.5M | — | ||
| Q2 25 | $458.3M | — | ||
| Q1 25 | $458.3M | — | ||
| Q4 24 | $503.1M | — | ||
| Q3 24 | $525.9M | — | ||
| Q2 24 | $546.0M | — | ||
| Q1 24 | $570.3M | — |
总资产OFIXUSAC
| Q4 25 | $850.6M | $2.6B | ||
| Q3 25 | $832.6M | $2.7B | ||
| Q2 25 | $837.2M | $2.7B | ||
| Q1 25 | $823.1M | $2.7B | ||
| Q4 24 | $893.3M | $2.7B | ||
| Q3 24 | $867.9M | $2.8B | ||
| Q2 24 | $882.0M | $2.8B | ||
| Q1 24 | $906.0M | $2.8B |
负债/权益比OFIXUSAC
| Q4 25 | — | — | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 0.34× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.23× | — | ||
| Q2 24 | 0.22× | — | ||
| Q1 24 | 0.21× | — |
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 | $27.7M | $139.5M |
| 自由现金流经营现金流 - 资本支出 | $16.8M | $87.7M |
| 自由现金流率自由现金流/营收 | 7.6% | 34.8% |
| 资本支出强度资本支出/营收 | 4.9% | 20.5% |
| 现金转化率经营现金流/净利润 | — | 5.02× |
| 过去12个月自由现金流最近4个季度 | $-1.3M | $277.0M |
8季度趋势，按日历期对齐
经营现金流OFIXUSAC
| Q4 25 | $27.7M | $139.5M | ||
| Q3 25 | $12.4M | $75.9M | ||
| Q2 25 | $11.6M | $124.2M | ||
| Q1 25 | $-18.4M | $54.7M | ||
| Q4 24 | $23.7M | $130.2M | ||
| Q3 24 | $11.7M | $48.5M | ||
| Q2 24 | $9.0M | $96.7M | ||
| Q1 24 | $-18.6M | $65.9M |
自由现金流OFIXUSAC
| Q4 25 | $16.8M | $87.7M | ||
| Q3 25 | $2.5M | $51.9M | ||
| Q2 25 | $4.5M | $101.1M | ||
| Q1 25 | $-25.1M | $36.3M | ||
| Q4 24 | $15.2M | $101.2M | ||
| Q3 24 | $6.3M | $19.8M | ||
| Q2 24 | $-360.0K | $48.2M | ||
| Q1 24 | $-29.1M | $-32.7M |
自由现金流率OFIXUSAC
| Q4 25 | 7.6% | 34.8% | ||
| Q3 25 | 1.2% | 20.7% | ||
| Q2 25 | 2.2% | 40.4% | ||
| Q1 25 | -13.0% | 14.8% | ||
| Q4 24 | 7.0% | 41.1% | ||
| Q3 24 | 3.2% | 8.2% | ||
| Q2 24 | -0.2% | 20.5% | ||
| Q1 24 | -15.4% | -14.3% |
资本支出强度OFIXUSAC
| Q4 25 | 4.9% | 20.5% | ||
| Q3 25 | 4.8% | 9.6% | ||
| Q2 25 | 3.5% | 9.3% | ||
| Q1 25 | 3.5% | 7.5% | ||
| Q4 24 | 4.0% | 11.8% | ||
| Q3 24 | 2.7% | 12.0% | ||
| Q2 24 | 4.7% | 20.6% | ||
| Q1 24 | 5.6% | 43.0% |
现金转化率OFIXUSAC
| Q4 25 | — | 5.02× | ||
| Q3 25 | — | 2.20× | ||
| Q2 25 | — | 4.35× | ||
| Q1 25 | — | 2.66× | ||
| Q4 24 | — | 5.12× | ||
| Q3 24 | — | 2.51× | ||
| Q2 24 | — | 3.10× | ||
| Q1 24 | — | 2.80× |
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
OFIX
| Spinal Implants Biologics And Enabling Technologies | $113.6M | 52% |
| Bone Growth Therapies | $68.3M | 31% |
| Other | $22.7M | 10% |
| IT | $5.9M | 3% |
| GB | $3.5M | 2% |
| FR | $3.5M | 2% |
| DE | $2.3M | 1% |
USAC
| Revenue From Contract Operations Excluding Revenue From Related Party | $231.7M | 92% |
| Entities Affiliated With Energy Transfer LP | $16.6M | 7% |
| Transferred At Point In Time | $5.4M | 2% |
