vs
P3 Health Partners Inc.（PIII）与RBC Bearings INC（RBC）财务数据对比。点击上方公司名可切换其他公司
RBC Bearings INC的季度营收约是P3 Health Partners Inc.的1.2倍（$461.6M vs $384.8M），RBC Bearings INC净利率更高（14.6% vs -19.6%，领先34.2%），RBC Bearings INC同比增速更快（17.0% vs 3.8%），过去两年RBC Bearings INC的营收复合增速更高（5.6% vs -0.5%）
P3 Health Partners Inc.是一家总部位于美国的人口健康管理与价值型医疗服务企业，与基层医疗机构及医疗系统合作，为包括联邦医保优势计划参保者在内的人群提供协同优质医疗服务，致力于提升诊疗效果、降低不必要的医疗开支。
该文本实际介绍的并非RBC Bearings，而是美国多佛公司。多佛是一家工业产品综合制造商，1955年成立，总部位于伊利诺伊州当纳斯格罗夫。2021年其业务分为五大板块：工程产品、清洁能源与加注、成像与识别、泵与工艺解决方案、气候与可持续技术，是标普500成分股，在纽约证券交易所上市。
PIII vs RBC — 直观对比
营收规模更大
RBC
是对方的1.2倍
$384.8M
营收增速更快
RBC
高出13.2%
3.8%
净利率更高
RBC
高出34.2%
-19.6%
两年增速更快
RBC
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $384.8M | $461.6M |
| 净利润 | $-75.5M | $67.4M |
| 毛利率 | — | 44.3% |
| 营业利润率 | -40.0% | 22.3% |
| 净利率 | -19.6% | 14.6% |
| 营收同比 | 3.8% | 17.0% |
| 净利润同比 | -28.8% | 16.4% |
| 每股收益（稀释后） | $-23.08 | $2.13 |
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PIIIRBC
| Q4 25 | $384.8M | $461.6M | ||
| Q3 25 | $345.3M | $455.3M | ||
| Q2 25 | $355.8M | $436.0M | ||
| Q1 25 | $373.2M | $437.7M | ||
| Q4 24 | $370.7M | $394.4M | ||
| Q3 24 | $362.1M | $397.9M | ||
| Q2 24 | $379.2M | $406.3M | ||
| Q1 24 | $388.5M | $413.7M |
净利润PIIIRBC
| Q4 25 | $-75.5M | $67.4M | ||
| Q3 25 | $-31.6M | $60.0M | ||
| Q2 25 | $-20.4M | $68.5M | ||
| Q1 25 | $-20.5M | $72.7M | ||
| Q4 24 | $-58.6M | $57.9M | ||
| Q3 24 | $-46.5M | $54.2M | ||
| Q2 24 | $-12.0M | $61.4M | ||
| Q1 24 | $-18.7M | — |
毛利率PIIIRBC
| Q4 25 | — | 44.3% | ||
| Q3 25 | — | 44.1% | ||
| Q2 25 | — | 44.8% | ||
| Q1 25 | — | 44.2% | ||
| Q4 24 | — | 44.3% | ||
| Q3 24 | — | 43.7% | ||
| Q2 24 | — | 45.3% | ||
| Q1 24 | — | 43.1% |
营业利润率PIIIRBC
| Q4 25 | -40.0% | 22.3% | ||
| Q3 25 | -12.8% | 21.5% | ||
| Q2 25 | -9.6% | 23.2% | ||
| Q1 25 | -10.2% | 23.0% | ||
| Q4 24 | -37.4% | 21.7% | ||
| Q3 24 | -29.5% | 21.6% | ||
| Q2 24 | -8.3% | 24.0% | ||
| Q1 24 | -11.3% | 22.8% |
净利率PIIIRBC
| Q4 25 | -19.6% | 14.6% | ||
| Q3 25 | -9.1% | 13.2% | ||
| Q2 25 | -5.7% | 15.7% | ||
| Q1 25 | -5.5% | 16.6% | ||
| Q4 24 | -15.8% | 14.7% | ||
| Q3 24 | -12.8% | 13.6% | ||
| Q2 24 | -3.2% | 15.1% | ||
| Q1 24 | -4.8% | — |
每股收益（稀释后）PIIIRBC
| Q4 25 | $-23.08 | $2.13 | ||
| Q3 25 | $-9.67 | $1.90 | ||
| Q2 25 | $-6.23 | $2.17 | ||
| Q1 25 | $-6.28 | $2.33 | ||
| Q4 24 | $-23.13 | $1.82 | ||
| Q3 24 | $-15.70 | $1.65 | ||
| Q2 24 | $-7.37 | $1.90 | ||
| Q1 24 | $-7.86 | $1.92 |
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 | $25.0M | $107.6M |
| 总债务越低越好 | $228.4M | $990.2M |
| 股东权益账面价值 | $-155.2M | $3.3B |
| 总资产 | $656.6M | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资PIIIRBC
| Q4 25 | $25.0M | $107.6M | ||
| Q3 25 | $37.7M | $91.2M | ||
| Q2 25 | $38.6M | $132.9M | ||
| Q1 25 | $40.1M | $36.8M | ||
| Q4 24 | $38.8M | — | ||
| Q3 24 | $63.0M | — | ||
| Q2 24 | $73.1M | $76.8M | ||
| Q1 24 | $27.3M | $63.5M |
总债务PIIIRBC
| Q4 25 | $228.4M | $990.2M | ||
| Q3 25 | $252.8M | $1.1B | ||
| Q2 25 | $182.0M | $915.6M | ||
| Q1 25 | $171.1M | $920.1M | ||
| Q4 24 | $108.9M | — | ||
| Q3 24 | $133.2M | — | ||
| Q2 24 | $133.1M | — | ||
| Q1 24 | $118.1M | $1.2B |
股东权益PIIIRBC
| Q4 25 | $-155.2M | $3.3B | ||
| Q3 25 | $-18.7M | $3.2B | ||
| Q2 25 | $44.5M | $3.1B | ||
| Q1 25 | $63.3M | $3.0B | ||
| Q4 24 | $75.9M | $2.9B | ||
| Q3 24 | $120.5M | $2.9B | ||
| Q2 24 | $166.8M | $2.8B | ||
| Q1 24 | $146.6M | $2.8B |
总资产PIIIRBC
| Q4 25 | $656.6M | $5.1B | ||
| Q3 25 | $683.6M | $5.1B | ||
| Q2 25 | $731.6M | $4.8B | ||
| Q1 25 | $783.9M | $4.7B | ||
| Q4 24 | $783.4M | $4.7B | ||
| Q3 24 | $833.3M | $4.7B | ||
| Q2 24 | $892.8M | $4.7B | ||
| Q1 24 | $855.9M | $4.7B |
负债/权益比PIIIRBC
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | 4.09× | 0.29× | ||
| Q1 25 | 2.71× | 0.30× | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 1.11× | — | ||
| Q2 24 | 0.80× | — | ||
| Q1 24 | 0.81× | 0.43× |
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 | $-25.7M | $122.1M |
| 自由现金流经营现金流 - 资本支出 | — | $99.1M |
| 自由现金流率自由现金流/营收 | — | 21.5% |
| 资本支出强度资本支出/营收 | — | 5.0% |
| 现金转化率经营现金流/净利润 | — | 1.81× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流PIIIRBC
| Q4 25 | $-25.7M | $122.1M | ||
| Q3 25 | $-15.4M | $88.4M | ||
| Q2 25 | $-16.6M | $120.0M | ||
| Q1 25 | $-33.5M | — | ||
| Q4 24 | $-57.2M | $84.0M | ||
| Q3 24 | $-22.6M | — | ||
| Q2 24 | $-10.2M | $97.4M | ||
| Q1 24 | $-20.0M | — |
自由现金流PIIIRBC
| Q4 25 | — | $99.1M | ||
| Q3 25 | — | $71.7M | ||
| Q2 25 | — | $104.3M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $73.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $88.4M | ||
| Q1 24 | — | — |
自由现金流率PIIIRBC
| Q4 25 | — | 21.5% | ||
| Q3 25 | — | 15.7% | ||
| Q2 25 | — | 23.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 18.7% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 21.8% | ||
| Q1 24 | — | — |
资本支出强度PIIIRBC
| Q4 25 | — | 5.0% | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | 0.0% | 2.6% | ||
| Q3 24 | 0.0% | 4.1% | ||
| Q2 24 | 0.0% | 2.2% | ||
| Q1 24 | 0.0% | — |
现金转化率PIIIRBC
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.47× | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.59× | ||
| 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
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
