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Orthofix Medical Inc.（OFIX）与INNOVATE Corp.（VATE）财务数据对比。点击上方公司名可切换其他公司
INNOVATE Corp.的季度营收约是Orthofix Medical Inc.的1.7倍（$382.7M vs $219.9M），Orthofix Medical Inc.净利率更高（-1.0% vs -1.9%，领先0.9%），INNOVATE Corp.同比增速更快（61.7% vs 2.0%），过去两年INNOVATE Corp.的营收复合增速更高（10.2% vs 8.0%）
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。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
OFIX vs VATE — 直观对比
营收规模更大
VATE
是对方的1.7倍
$219.9M
营收增速更快
VATE
高出59.8%
2.0%
净利率更高
OFIX
高出0.9%
-1.9%
两年增速更快
VATE
近两年复合增速
8.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $219.9M | $382.7M |
| 净利润 | $-2.2M | $-7.4M |
| 毛利率 | 71.1% | 15.4% |
| 营业利润率 | 0.2% | 3.7% |
| 净利率 | -1.0% | -1.9% |
| 营收同比 | 2.0% | 61.7% |
| 净利润同比 | 92.4% | 55.4% |
| 每股收益（稀释后） | $-0.05 | $-0.57 |
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OFIXVATE
| Q4 25 | $219.9M | $382.7M | ||
| Q3 25 | $205.6M | $347.1M | ||
| Q2 25 | $203.1M | $242.0M | ||
| Q1 25 | $193.6M | $274.2M | ||
| Q4 24 | $215.7M | $236.6M | ||
| Q3 24 | $196.6M | $242.2M | ||
| Q2 24 | $198.6M | $313.1M | ||
| Q1 24 | $188.6M | $315.2M |
净利润OFIXVATE
| Q4 25 | $-2.2M | $-7.4M | ||
| Q3 25 | $-22.8M | $-8.9M | ||
| Q2 25 | $-14.1M | $-19.8M | ||
| Q1 25 | $-53.1M | $-24.5M | ||
| Q4 24 | $-29.1M | $-16.6M | ||
| Q3 24 | $-27.4M | $-15.0M | ||
| Q2 24 | $-33.4M | $14.4M | ||
| Q1 24 | $-36.0M | $-17.4M |
毛利率OFIXVATE
| Q4 25 | 71.1% | 15.4% | ||
| Q3 25 | 72.2% | 14.3% | ||
| Q2 25 | 68.7% | 18.8% | ||
| Q1 25 | 62.8% | 16.6% | ||
| Q4 24 | 69.0% | 19.6% | ||
| Q3 24 | 68.7% | 19.9% | ||
| Q2 24 | 67.8% | 21.0% | ||
| Q1 24 | 67.5% | 15.4% |
营业利润率OFIXVATE
| Q4 25 | 0.2% | 3.7% | ||
| Q3 25 | -8.3% | 1.8% | ||
| Q2 25 | -7.9% | 2.0% | ||
| Q1 25 | -25.2% | 1.2% | ||
| Q4 24 | -5.3% | 1.1% | ||
| Q3 24 | -9.6% | 2.4% | ||
| Q2 24 | -12.5% | 9.2% | ||
| Q1 24 | -15.6% | 0.9% |
净利率OFIXVATE
| Q4 25 | -1.0% | -1.9% | ||
| Q3 25 | -11.1% | -2.6% | ||
| Q2 25 | -6.9% | -8.2% | ||
| Q1 25 | -27.4% | -8.9% | ||
| Q4 24 | -13.5% | -7.0% | ||
| Q3 24 | -13.9% | -6.2% | ||
| Q2 24 | -16.8% | 4.6% | ||
| Q1 24 | -19.1% | -5.5% |
每股收益（稀释后）OFIXVATE
| Q4 25 | $-0.05 | $-0.57 | ||
| Q3 25 | $-0.57 | $-0.71 | ||
| Q2 25 | $-0.36 | $-1.67 | ||
| Q1 25 | $-1.35 | $-1.89 | ||
| Q4 24 | $-0.76 | $-0.72 | ||
| Q3 24 | $-0.71 | $-1.18 | ||
| Q2 24 | $-0.88 | $1.03 | ||
| Q1 24 | $-0.95 | $-2.21 |
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 | $82.0M | $112.1M |
| 总债务越低越好 | — | $80.3M |
| 股东权益账面价值 | $450.0M | $-240.1M |
| 总资产 | $850.6M | $950.1M |
| 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OFIXVATE
| Q4 25 | $82.0M | $112.1M | ||
| Q3 25 | $62.9M | $35.5M | ||
| Q2 25 | $65.6M | $33.4M | ||
| Q1 25 | $58.0M | $33.3M | ||
| Q4 24 | $83.2M | $48.8M | ||
| Q3 24 | $30.1M | $51.0M | ||
| Q2 24 | $26.4M | $80.2M | ||
| Q1 24 | $27.0M | $38.4M |
总债务OFIXVATE
| Q4 25 | — | $80.3M | ||
| Q3 25 | $157.2M | $97.3M | ||
| Q2 25 | $157.0M | $160.1M | ||
| Q1 25 | $156.9M | $139.9M | ||
| Q4 24 | $157.0M | $500.6M | ||
| Q3 24 | $118.5M | $502.4M | ||
| Q2 24 | $118.0M | $638.3M | ||
| Q1 24 | $118.2M | $641.5M |
股东权益OFIXVATE
| Q4 25 | $450.0M | $-240.1M | ||
| Q3 25 | $442.5M | $-233.3M | ||
| Q2 25 | $458.3M | $-224.8M | ||
| Q1 25 | $458.3M | $-204.2M | ||
| Q4 24 | $503.1M | $-180.4M | ||
| Q3 24 | $525.9M | $-163.1M | ||
| Q2 24 | $546.0M | $-149.0M | ||
| Q1 24 | $570.3M | $-184.4M |
总资产OFIXVATE
| Q4 25 | $850.6M | $950.1M | ||
| Q3 25 | $832.6M | $913.2M | ||
| Q2 25 | $837.2M | $890.9M | ||
| Q1 25 | $823.1M | $868.0M | ||
| Q4 24 | $893.3M | $891.1M | ||
| Q3 24 | $867.9M | $897.2M | ||
| Q2 24 | $882.0M | $898.9M | ||
| Q1 24 | $906.0M | $943.5M |
负债/权益比OFIXVATE
| 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 | $101.1M |
| 自由现金流经营现金流 - 资本支出 | $16.8M | — |
| 自由现金流率自由现金流/营收 | 7.6% | — |
| 资本支出强度资本支出/营收 | 4.9% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-1.3M | — |
8季度趋势，按日历期对齐
经营现金流OFIXVATE
| Q4 25 | $27.7M | $101.1M | ||
| Q3 25 | $12.4M | $19.2M | ||
| Q2 25 | $11.6M | $40.4M | ||
| Q1 25 | $-18.4M | $-14.1M | ||
| Q4 24 | $23.7M | $41.4M | ||
| Q3 24 | $11.7M | $-28.4M | ||
| Q2 24 | $9.0M | $21.5M | ||
| Q1 24 | $-18.6M | $-25.4M |
自由现金流OFIXVATE
| Q4 25 | $16.8M | — | ||
| Q3 25 | $2.5M | $19.0M | ||
| Q2 25 | $4.5M | — | ||
| Q1 25 | $-25.1M | $-18.8M | ||
| Q4 24 | $15.2M | $34.2M | ||
| Q3 24 | $6.3M | $-31.5M | ||
| Q2 24 | $-360.0K | $18.4M | ||
| Q1 24 | $-29.1M | $-31.0M |
自由现金流率OFIXVATE
| Q4 25 | 7.6% | — | ||
| Q3 25 | 1.2% | 5.5% | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | -13.0% | -6.9% | ||
| Q4 24 | 7.0% | 14.5% | ||
| Q3 24 | 3.2% | -13.0% | ||
| Q2 24 | -0.2% | 5.9% | ||
| Q1 24 | -15.4% | -9.8% |
资本支出强度OFIXVATE
| Q4 25 | 4.9% | — | ||
| Q3 25 | 4.8% | 0.1% | ||
| Q2 25 | 3.5% | — | ||
| Q1 25 | 3.5% | 1.7% | ||
| Q4 24 | 4.0% | 3.0% | ||
| Q3 24 | 2.7% | 1.3% | ||
| Q2 24 | 4.7% | 1.0% | ||
| Q1 24 | 5.6% | 1.8% |
现金转化率OFIXVATE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.49× | ||
| Q1 24 | — | — |
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% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
