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Insulet Corporation（PODD）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
瑞思迈的季度营收约是Insulet Corporation的1.8倍（$1.4B vs $783.7M），瑞思迈净利率更高（27.6% vs 13.0%，领先14.6%），Insulet Corporation同比增速更快（31.2% vs 11.0%），瑞思迈自由现金流更多（$311.2M vs $48.2M），过去两年Insulet Corporation的营收复合增速更高（33.2% vs 9.0%）
Insulet Corporation是深耕糖尿病治疗领域的医疗器械企业，核心产品为胰岛素泵，通过持续皮下输注胰岛素的疗法为患者给药。其产品通常由泵主体、一次性胰岛素储药仓，以及包含皮下植入套管和连接管路的一次性输注套件构成，满足不同患者的治疗需求。
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。
PODD vs RMD — 直观对比
营收规模更大
RMD
是对方的1.8倍
$783.7M
营收增速更快
PODD
高出20.2%
11.0%
净利率更高
RMD
高出14.6%
13.0%
自由现金流更多
RMD
多$263.0M
$48.2M
两年增速更快
PODD
近两年复合增速
9.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $783.7M | $1.4B |
| 净利润 | $101.6M | $392.6M |
| 毛利率 | 72.6% | 61.8% |
| 营业利润率 | 18.7% | 34.6% |
| 净利率 | 13.0% | 27.6% |
| 营收同比 | 31.2% | 11.0% |
| 净利润同比 | 0.9% | 13.9% |
| 每股收益（稀释后） | $1.42 | $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PODDRMD
| Q4 25 | $783.7M | $1.4B | ||
| Q3 25 | $706.3M | $1.3B | ||
| Q2 25 | $649.1M | $1.3B | ||
| Q1 25 | $569.0M | $1.3B | ||
| Q4 24 | $597.5M | $1.3B | ||
| Q3 24 | $543.9M | $1.2B | ||
| Q2 24 | $488.5M | $1.2B | ||
| Q1 24 | $441.7M | $1.2B |
净利润PODDRMD
| Q4 25 | $101.6M | $392.6M | ||
| Q3 25 | $87.6M | $348.5M | ||
| Q2 25 | $22.5M | $379.7M | ||
| Q1 25 | $35.4M | $365.0M | ||
| Q4 24 | $100.7M | $344.6M | ||
| Q3 24 | $77.5M | $311.4M | ||
| Q2 24 | $188.6M | $292.2M | ||
| Q1 24 | $51.5M | $300.5M |
毛利率PODDRMD
| Q4 25 | 72.6% | 61.8% | ||
| Q3 25 | 72.2% | 61.5% | ||
| Q2 25 | 69.7% | 60.8% | ||
| Q1 25 | 71.9% | 59.3% | ||
| Q4 24 | 72.1% | 58.6% | ||
| Q3 24 | 69.3% | 58.6% | ||
| Q2 24 | 67.7% | 58.5% | ||
| Q1 24 | 69.5% | 57.9% |
营业利润率PODDRMD
| Q4 25 | 18.7% | 34.6% | ||
| Q3 25 | 16.7% | 33.4% | ||
| Q2 25 | 18.7% | 33.7% | ||
| Q1 25 | 15.6% | 33.0% | ||
| Q4 24 | 18.3% | 32.5% | ||
| Q3 24 | 16.2% | 31.6% | ||
| Q2 24 | 11.2% | 31.2% | ||
| Q1 24 | 12.9% | 31.3% |
净利率PODDRMD
| Q4 25 | 13.0% | 27.6% | ||
| Q3 25 | 12.4% | 26.1% | ||
| Q2 25 | 3.5% | 28.2% | ||
| Q1 25 | 6.2% | 28.3% | ||
| Q4 24 | 16.9% | 26.9% | ||
| Q3 24 | 14.2% | 25.4% | ||
| Q2 24 | 38.6% | 23.9% | ||
| Q1 24 | 11.7% | 25.1% |
每股收益（稀释后）PODDRMD
| Q4 25 | $1.42 | $2.68 | ||
| Q3 25 | $1.24 | $2.37 | ||
| Q2 25 | $0.32 | $2.58 | ||
| Q1 25 | $0.50 | $2.48 | ||
| Q4 24 | $1.38 | $2.34 | ||
| Q3 24 | $1.08 | $2.11 | ||
| Q2 24 | $2.59 | $1.97 | ||
| Q1 24 | $0.73 | $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 | — | $1.4B |
| 总债务越低越好 | $930.8M | $403.9M |
| 股东权益账面价值 | $1.5B | $6.3B |
| 总资产 | $3.2B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.61× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资PODDRMD
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $932.7M | ||
| Q4 24 | — | $521.9M | ||
| Q3 24 | — | $426.4M | ||
| Q2 24 | — | $238.4M | ||
| Q1 24 | — | $237.9M |
总债务PODDRMD
| Q4 25 | $930.8M | $403.9M | ||
| Q3 25 | $934.9M | $408.7M | ||
| Q2 25 | $939.0M | $658.4M | ||
| Q1 25 | $1.6B | $663.1M | ||
| Q4 24 | $1.3B | $662.9M | ||
| Q3 24 | $1.4B | $667.6M | ||
| Q2 24 | $1.4B | $697.3M | ||
| Q1 24 | $1.4B | $997.0M |
股东权益PODDRMD
| Q4 25 | $1.5B | $6.3B | ||
| Q3 25 | $1.4B | $6.1B | ||
| Q2 25 | $1.5B | $6.0B | ||
| Q1 25 | $1.3B | $5.5B | ||
| Q4 24 | $1.2B | $5.3B | ||
| Q3 24 | $1.1B | $5.2B | ||
| Q2 24 | $998.4M | $4.9B | ||
| Q1 24 | $790.7M | $4.6B |
总资产PODDRMD
| Q4 25 | $3.2B | $8.5B | ||
| Q3 25 | $3.0B | $8.3B | ||
| Q2 25 | $3.5B | $8.2B | ||
| Q1 25 | $3.5B | $7.6B | ||
| Q4 24 | $3.1B | $7.1B | ||
| Q3 24 | $3.0B | $7.2B | ||
| Q2 24 | $2.9B | $6.9B | ||
| Q1 24 | $2.6B | $6.8B |
负债/权益比PODDRMD
| Q4 25 | 0.61× | 0.06× | ||
| Q3 25 | 0.68× | 0.07× | ||
| Q2 25 | 0.64× | 0.11× | ||
| Q1 25 | 1.21× | 0.12× | ||
| Q4 24 | 1.07× | 0.13× | ||
| Q3 24 | 1.21× | 0.13× | ||
| Q2 24 | 1.36× | 0.14× | ||
| Q1 24 | 1.72× | 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 | $183.3M | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $48.2M | $311.2M |
| 自由现金流率自由现金流/营收 | 6.2% | 21.9% |
| 资本支出强度资本支出/营收 | 17.2% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.80× | 0.87× |
| 过去12个月自由现金流最近4个季度 | $377.7M | $1.8B |
8季度趋势，按日历期对齐
经营现金流PODDRMD
| Q4 25 | $183.3M | $339.7M | ||
| Q3 25 | $125.7M | $457.3M | ||
| Q2 25 | $196.5M | $538.8M | ||
| Q1 25 | $63.8M | $578.7M | ||
| Q4 24 | $147.7M | $308.6M | ||
| Q3 24 | $98.5M | $325.5M | ||
| Q2 24 | $96.5M | $440.1M | ||
| Q1 24 | $87.6M | $402.0M |
自由现金流PODDRMD
| Q4 25 | $48.2M | $311.2M | ||
| Q3 25 | $100.1M | $414.4M | ||
| Q2 25 | $177.9M | $508.2M | ||
| Q1 25 | $51.5M | $557.9M | ||
| Q4 24 | $94.1M | $288.0M | ||
| Q3 24 | $71.8M | $307.7M | ||
| Q2 24 | $74.0M | $415.2M | ||
| Q1 24 | $65.5M | $380.8M |
自由现金流率PODDRMD
| Q4 25 | 6.2% | 21.9% | ||
| Q3 25 | 14.2% | 31.0% | ||
| Q2 25 | 27.4% | 37.7% | ||
| Q1 25 | 9.1% | 43.2% | ||
| Q4 24 | 15.7% | 22.5% | ||
| Q3 24 | 13.2% | 25.1% | ||
| Q2 24 | 15.1% | 33.9% | ||
| Q1 24 | 14.8% | 31.8% |
资本支出强度PODDRMD
| Q4 25 | 17.2% | 2.0% | ||
| Q3 25 | 3.6% | 3.2% | ||
| Q2 25 | 2.9% | 2.3% | ||
| Q1 25 | 2.2% | 1.6% | ||
| Q4 24 | 9.0% | 1.6% | ||
| Q3 24 | 4.9% | 1.5% | ||
| Q2 24 | 4.6% | 2.0% | ||
| Q1 24 | 5.0% | 1.8% |
现金转化率PODDRMD
| Q4 25 | 1.80× | 0.87× | ||
| Q3 25 | 1.43× | 1.31× | ||
| Q2 25 | 8.73× | 1.42× | ||
| Q1 25 | 1.80× | 1.59× | ||
| Q4 24 | 1.47× | 0.90× | ||
| Q3 24 | 1.27× | 1.05× | ||
| Q2 24 | 0.51× | 1.51× | ||
| Q1 24 | 1.70× | 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
PODD
| U.S.Omnipod | $567.8M | 72% |
| International Omnipod | $214.0M | 27% |
| Drug Delivery | $1.9M | 0% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
