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通用电气医疗（OPCH）与新思科技（SNPS）财务数据对比。点击上方公司名可切换其他公司
新思科技的季度营收约是通用电气医疗的1.6倍（$2.3B vs $1.4B），新思科技净利率更高（19.9% vs 3.6%，领先16.3%），新思科技同比增速更快（50.6% vs 12.2%），新思科技自由现金流更多（$605.2M vs $130.2M），过去两年新思科技的营收复合增速更高（16.9% vs 13.0%）
通用电气医疗是总部位于美国伊利诺伊州芝加哥的医疗科技企业，旗下设四大业务板块：医学影像（含分子成像、CT、磁共振、女性健康筛查及X线设备）、超声、患者护理解决方案（覆盖远程患者监测、麻醉呼吸护理、心脏病诊断、婴儿护理等）及制药相关业务。
新思科技是总部位于美国加利福尼亚州森尼韦尔的跨国电子设计自动化（EDA）龙头企业，专注于硅芯片设计与验证、电子系统级设计验证及可复用组件研发，为全球半导体设计与制造行业提供专业工具及配套服务。
OPCH vs SNPS — 直观对比
营收规模更大
SNPS
是对方的1.6倍
$1.4B
营收增速更快
SNPS
高出38.3%
12.2%
净利率更高
SNPS
高出16.3%
3.6%
自由现金流更多
SNPS
多$474.9M
$130.2M
两年增速更快
SNPS
近两年复合增速
13.0%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.3B |
| 净利润 | $51.8M | $448.7M |
| 毛利率 | 19.0% | 71.0% |
| 营业利润率 | 5.9% | 5.4% |
| 净利率 | 3.6% | 19.9% |
| 营收同比 | 12.2% | 50.6% |
| 净利润同比 | -3.8% | -59.7% |
| 每股收益（稀释后） | $0.32 | $2.44 |
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OPCHSNPS
| Q4 25 | — | $2.3B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $1.4B | $1.6B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $1.2B | $1.5B | ||
| Q1 24 | $1.1B | $1.6B |
净利润OPCHSNPS
| Q4 25 | — | $448.7M | ||
| Q3 25 | $51.8M | $242.5M | ||
| Q2 25 | $50.5M | $345.3M | ||
| Q1 25 | $46.7M | $295.7M | ||
| Q4 24 | $60.1M | $1.1B | ||
| Q3 24 | $53.9M | $408.1M | ||
| Q2 24 | $53.0M | $292.1M | ||
| Q1 24 | $44.8M | $449.1M |
毛利率OPCHSNPS
| Q4 25 | — | 71.0% | ||
| Q3 25 | 19.0% | 78.1% | ||
| Q2 25 | 19.0% | 80.2% | ||
| Q1 25 | 19.7% | 81.4% | ||
| Q4 24 | 21.3% | 78.3% | ||
| Q3 24 | 20.1% | 80.9% | ||
| Q2 24 | 20.3% | 79.4% | ||
| Q1 24 | 20.8% | 80.0% |
营业利润率OPCHSNPS
| Q4 25 | — | 5.4% | ||
| Q3 25 | 5.9% | 9.5% | ||
| Q2 25 | 5.8% | 23.5% | ||
| Q1 25 | 5.9% | 17.3% | ||
| Q4 24 | 6.9% | 20.3% | ||
| Q3 24 | 6.7% | 23.6% | ||
| Q2 24 | 6.6% | 22.8% | ||
| Q1 24 | 6.0% | 21.8% |
净利率OPCHSNPS
| Q4 25 | — | 19.9% | ||
| Q3 25 | 3.6% | 13.9% | ||
| Q2 25 | 3.6% | 21.5% | ||
| Q1 25 | 3.5% | 20.3% | ||
| Q4 24 | 4.8% | 74.4% | ||
| Q3 24 | 4.2% | 26.7% | ||
| Q2 24 | 4.3% | 20.1% | ||
| Q1 24 | 3.9% | 27.2% |
每股收益（稀释后）OPCHSNPS
| Q4 25 | — | $2.44 | ||
| Q3 25 | $0.32 | $1.50 | ||
| Q2 25 | $0.31 | $2.21 | ||
| Q1 25 | $0.28 | $1.89 | ||
| Q4 24 | $0.36 | $7.13 | ||
| Q3 24 | $0.31 | $2.61 | ||
| Q2 24 | $0.30 | $1.88 | ||
| Q1 24 | $0.26 | $2.89 |
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 | $309.8M | $3.0B |
| 总债务越低越好 | $1.2B | $13.5B |
| 股东权益账面价值 | $1.4B | $28.3B |
| 总资产 | $3.5B | $48.2B |
| 负债/权益比越低杠杆越低 | 0.86× | 0.48× |
8季度趋势，按日历期对齐
现金及短期投资OPCHSNPS
| Q4 25 | — | $3.0B | ||
| Q3 25 | $309.8M | $2.6B | ||
| Q2 25 | $198.8M | $14.3B | ||
| Q1 25 | $171.4M | $3.8B | ||
| Q4 24 | $412.6M | $4.1B | ||
| Q3 24 | $483.0M | $2.0B | ||
| Q2 24 | $376.9M | $1.7B | ||
| Q1 24 | $219.5M | $1.3B |
总债务OPCHSNPS
| Q4 25 | — | $13.5B | ||
| Q3 25 | $1.2B | $14.3B | ||
| Q2 25 | $1.1B | $10.1B | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
股东权益OPCHSNPS
| Q4 25 | — | $28.3B | ||
| Q3 25 | $1.4B | $27.6B | ||
| Q2 25 | $1.4B | $9.9B | ||
| Q1 25 | $1.4B | $9.3B | ||
| Q4 24 | $1.4B | $9.0B | ||
| Q3 24 | $1.4B | $7.7B | ||
| Q2 24 | $1.4B | $7.2B | ||
| Q1 24 | $1.4B | $6.7B |
总资产OPCHSNPS
| Q4 25 | — | $48.2B | ||
| Q3 25 | $3.5B | $48.2B | ||
| Q2 25 | $3.4B | $23.8B | ||
| Q1 25 | $3.3B | $13.0B | ||
| Q4 24 | $3.4B | $13.1B | ||
| Q3 24 | $3.4B | $11.6B | ||
| Q2 24 | $3.3B | $11.0B | ||
| Q1 24 | $3.2B | $10.6B |
负债/权益比OPCHSNPS
| Q4 25 | — | 0.48× | ||
| Q3 25 | 0.86× | 0.52× | ||
| Q2 25 | 0.82× | 1.01× | ||
| Q1 25 | 0.82× | — | ||
| Q4 24 | 0.79× | — | ||
| Q3 24 | 0.78× | — | ||
| Q2 24 | 0.79× | — | ||
| Q1 24 | 0.74× | — |
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 | $139.4M | $639.7M |
| 自由现金流经营现金流 - 资本支出 | $130.2M | $605.2M |
| 自由现金流率自由现金流/营收 | 9.1% | 26.8% |
| 资本支出强度资本支出/营收 | 0.6% | 1.5% |
| 现金转化率经营现金流/净利润 | 2.69× | 1.43× |
| 过去12个月自由现金流最近4个季度 | $220.7M | $1.3B |
8季度趋势，按日历期对齐
经营现金流OPCHSNPS
| Q4 25 | — | $639.7M | ||
| Q3 25 | $139.4M | $671.0M | ||
| Q2 25 | $90.3M | $275.4M | ||
| Q1 25 | $-7.2M | $-67.5M | ||
| Q4 24 | $36.1M | $562.8M | ||
| Q3 24 | $160.4M | $455.4M | ||
| Q2 24 | $195.7M | $476.6M | ||
| Q1 24 | $-68.8M | $-87.8M |
自由现金流OPCHSNPS
| Q4 25 | — | $605.2M | ||
| Q3 25 | $130.2M | $632.4M | ||
| Q2 25 | $81.2M | $219.8M | ||
| Q1 25 | $-16.6M | $-108.2M | ||
| Q4 24 | $25.8M | $558.4M | ||
| Q3 24 | $150.7M | $415.4M | ||
| Q2 24 | $185.9M | $438.2M | ||
| Q1 24 | $-74.6M | $-128.2M |
自由现金流率OPCHSNPS
| Q4 25 | — | 26.8% | ||
| Q3 25 | 9.1% | 36.3% | ||
| Q2 25 | 5.7% | 13.7% | ||
| Q1 25 | -1.2% | -7.4% | ||
| Q4 24 | 2.0% | 37.3% | ||
| Q3 24 | 11.8% | 27.2% | ||
| Q2 24 | 15.1% | 30.1% | ||
| Q1 24 | -6.5% | -7.8% |
资本支出强度OPCHSNPS
| Q4 25 | — | 1.5% | ||
| Q3 25 | 0.6% | 2.2% | ||
| Q2 25 | 0.6% | 3.5% | ||
| Q1 25 | 0.7% | 2.8% | ||
| Q4 24 | 0.8% | 0.3% | ||
| Q3 24 | 0.8% | 2.6% | ||
| Q2 24 | 0.8% | 2.6% | ||
| Q1 24 | 0.5% | 2.4% |
现金转化率OPCHSNPS
| Q4 25 | — | 1.43× | ||
| Q3 25 | 2.69× | 2.77× | ||
| Q2 25 | 1.79× | 0.80× | ||
| Q1 25 | -0.15× | -0.23× | ||
| Q4 24 | 0.60× | 0.51× | ||
| Q3 24 | 2.98× | 1.12× | ||
| Q2 24 | 3.69× | 1.63× | ||
| Q1 24 | -1.54× | -0.20× |
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
OPCH
| Commercial Customer | $1.3B | 87% |
| Government Customer | $172.8M | 12% |
| Patient Customer | $10.1M | 1% |
| Corporate Joint Venture | $1.9M | 0% |
SNPS
| License And Maintenance | $940.7M | 42% |
| Other | $640.0M | 28% |
| Design IP Segment | $407.1M | 18% |
| KR | $236.9M | 11% |
| Sales Based Royalties | $30.1M | 1% |
