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RadNet, Inc.（RDNT）与德太投资（TPG）财务数据对比。点击上方公司名可切换其他公司
德太投资的季度营收约是RadNet, Inc.的1.3倍（$715.1M vs $547.7M），德太投资净利率更高（10.8% vs -0.1%，领先10.9%），德太投资同比增速更快（35.6% vs 14.8%），过去两年德太投资的营收复合增速更高（18.1% vs 12.6%）
RadNet是美国领先的放射医疗服务企业，总部位于加利福尼亚州洛杉矶，是美国规模最大的独立固定地址诊断影像中心运营商，按网点数量及年度影像业务收入计均居行业首位。截至2025年，该公司在全美8个州持有或运营超400家影像中心，提供门诊诊断影像服务。
TPG Inc.（原称德州太平洋集团、TPG Capital）是总部位于美国得克萨斯州沃斯堡的私募股权投资机构，旗下管理的基金覆盖成长资本、风险投资、公开股权、债权投资等品类，投资领域包含消费零售、传媒电信、工业、科技、旅游休闲、医疗健康等多个赛道。
RDNT vs TPG — 直观对比
营收规模更大
TPG
是对方的1.3倍
$547.7M
营收增速更快
TPG
高出20.8%
14.8%
净利率更高
TPG
高出10.9%
-0.1%
两年增速更快
TPG
近两年复合增速
12.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $547.7M | $715.1M |
| 净利润 | $-597.0K | $77.1M |
| 毛利率 | — | — |
| 营业利润率 | 5.1% | — |
| 净利率 | -0.1% | 10.8% |
| 营收同比 | 14.8% | 35.6% |
| 净利润同比 | -111.2% | 494.1% |
| 每股收益（稀释后） | $0.00 | $0.30 |
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RDNTTPG
| Q4 25 | $547.7M | $715.1M | ||
| Q3 25 | $522.9M | $596.5M | ||
| Q2 25 | $498.2M | $569.1M | ||
| Q1 25 | $471.4M | $543.5M | ||
| Q4 24 | $477.1M | $527.2M | ||
| Q3 24 | $461.1M | $524.7M | ||
| Q2 24 | $459.7M | $522.8M | ||
| Q1 24 | $431.7M | $512.3M |
净利润RDNTTPG
| Q4 25 | $-597.0K | $77.1M | ||
| Q3 25 | $5.4M | $67.1M | ||
| Q2 25 | $14.5M | $14.9M | ||
| Q1 25 | $-37.9M | $25.4M | ||
| Q4 24 | $5.3M | $13.0M | ||
| Q3 24 | $3.2M | $9.0M | ||
| Q2 24 | $-3.0M | $-14.0M | ||
| Q1 24 | $-2.8M | $15.5M |
营业利润率RDNTTPG
| Q4 25 | 5.1% | — | ||
| Q3 25 | 5.2% | — | ||
| Q2 25 | 6.2% | — | ||
| Q1 25 | -5.1% | — | ||
| Q4 24 | 5.1% | — | ||
| Q3 24 | 7.4% | — | ||
| Q2 24 | 7.6% | — | ||
| Q1 24 | 2.6% | — |
净利率RDNTTPG
| Q4 25 | -0.1% | 10.8% | ||
| Q3 25 | 1.0% | 11.3% | ||
| Q2 25 | 2.9% | 2.6% | ||
| Q1 25 | -8.0% | 4.7% | ||
| Q4 24 | 1.1% | 2.5% | ||
| Q3 24 | 0.7% | 1.7% | ||
| Q2 24 | -0.6% | -2.7% | ||
| Q1 24 | -0.6% | 3.0% |
每股收益（稀释后）RDNTTPG
| Q4 25 | $0.00 | $0.30 | ||
| Q3 25 | $0.07 | $0.20 | ||
| Q2 25 | $0.19 | $-0.05 | ||
| Q1 25 | $-0.51 | $0.00 | ||
| Q4 24 | $0.08 | $-0.04 | ||
| Q3 24 | $0.04 | $-0.08 | ||
| Q2 24 | $-0.04 | $-0.19 | ||
| Q1 24 | $-0.04 | $-0.11 |
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 | $767.2M | $826.1M |
| 总债务越低越好 | $1.1B | $1.7B |
| 股东权益账面价值 | $1.1B | $4.1B |
| 总资产 | $3.8B | $13.5B |
| 负债/权益比越低杠杆越低 | 1.00× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资RDNTTPG
| Q4 25 | $767.2M | $826.1M | ||
| Q3 25 | $804.7M | $1.1B | ||
| Q2 25 | $833.2M | $1.1B | ||
| Q1 25 | $717.3M | $822.0M | ||
| Q4 24 | $740.0M | $808.0M | ||
| Q3 24 | $748.9M | $1.2B | ||
| Q2 24 | $741.7M | $1.1B | ||
| Q1 24 | $527.0M | $1.1B |
总债务RDNTTPG
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $1.1B | $1.8B | ||
| Q2 25 | $1.1B | $1.6B | ||
| Q1 25 | $1.0B | $1.5B | ||
| Q4 24 | $1.0B | $1.3B | ||
| Q3 24 | $1.0B | $1.3B | ||
| Q2 24 | $1.0B | $1.2B | ||
| Q1 24 | $834.6M | $1.2B |
股东权益RDNTTPG
| Q4 25 | $1.1B | $4.1B | ||
| Q3 25 | $1.1B | $3.8B | ||
| Q2 25 | $932.3M | $3.6B | ||
| Q1 25 | $898.1M | $3.5B | ||
| Q4 24 | $902.3M | $3.6B | ||
| Q3 24 | $895.3M | $3.4B | ||
| Q2 24 | $881.0M | $3.3B | ||
| Q1 24 | $873.0M | $3.3B |
总资产RDNTTPG
| Q4 25 | $3.8B | $13.5B | ||
| Q3 25 | $3.7B | $13.0B | ||
| Q2 25 | $3.5B | $12.0B | ||
| Q1 25 | $3.3B | $11.3B | ||
| Q4 24 | $3.3B | $10.5B | ||
| Q3 24 | $3.3B | $10.5B | ||
| Q2 24 | $3.2B | $10.1B | ||
| Q1 24 | $3.0B | $9.9B |
负债/权益比RDNTTPG
| Q4 25 | 1.00× | 0.42× | ||
| Q3 25 | 1.04× | 0.47× | ||
| Q2 25 | 1.18× | 0.45× | ||
| Q1 25 | 1.12× | 0.42× | ||
| Q4 24 | 1.13× | 0.36× | ||
| Q3 24 | 1.14× | 0.39× | ||
| Q2 24 | 1.17× | 0.37× | ||
| Q1 24 | 0.96× | 0.37× |
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 | $84.2M | $-43.7M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | -0.57× |
| 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RDNTTPG
| Q4 25 | $84.2M | $-43.7M | ||
| Q3 25 | $52.8M | $492.0M | ||
| Q2 25 | $120.3M | $385.9M | ||
| Q1 25 | $41.5M | $198.2M | ||
| Q4 24 | $42.5M | $-188.1M | ||
| Q3 24 | $57.4M | $68.9M | ||
| Q2 24 | $116.0M | $214.6M | ||
| Q1 24 | $17.1M | $436.7M |
现金转化率RDNTTPG
| Q4 25 | — | -0.57× | ||
| Q3 25 | 9.75× | 7.33× | ||
| Q2 25 | 8.33× | 25.83× | ||
| Q1 25 | — | 7.80× | ||
| Q4 24 | 7.96× | -14.49× | ||
| Q3 24 | 17.89× | 7.69× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 28.14× |
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
RDNT
| Commercial Insurance1 | $301.0M | 55% |
| Medicare1 | $129.2M | 24% |
| Capitation Arrangements | $31.9M | 6% |
| Health Care Other | $20.4M | 4% |
| Digital Health | $16.4M | 3% |
| Other | $15.2M | 3% |
| Medicaid1 | $14.0M | 3% |
| Workers Compensation Personal Injury1 | $12.3M | 2% |
| Health Care Management Service | $7.5M | 1% |
TPG
| Management Fees | $484.4M | 68% |
| Transaction Fees | $118.6M | 17% |
| Expense Reimbursements And Other | $76.3M | 11% |
| Incentive Fees | $29.0M | 4% |
| Monitoring Fees | $6.8M | 1% |
