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SELECT MEDICAL HOLDINGS CORP（SEM）与惠好（WY）财务数据对比。点击上方公司名可切换其他公司
惠好的季度营收约是SELECT MEDICAL HOLDINGS CORP的1.1倍（$1.5B vs $1.4B），惠好净利率更高（4.8% vs 1.4%，领先3.4%），SELECT MEDICAL HOLDINGS CORP同比增速更快（6.4% vs -9.8%），SELECT MEDICAL HOLDINGS CORP自由现金流更多（$5.2M vs $-128.0M），过去两年SELECT MEDICAL HOLDINGS CORP的营收复合增速更高（2.8% vs -7.4%）
Select Medical是总部位于美国宾夕法尼亚州的医疗健康企业，业务涵盖长期急症护理、住院康复医院运营，同时开设有职业健康与物理治疗诊所，母公司Select Medical Holdings在纽约证券交易所挂牌上市。
惠好是美国知名林地运营企业，在美国本土持有约1040万英亩林地，同时通过长期许可协议在加拿大管理额外1400万英亩林地。企业拥有逾百年木制品生产历史，目前以房地产投资信托（REIT）模式运营。
SEM vs WY — 直观对比
营收规模更大
WY
是对方的1.1倍
$1.4B
营收增速更快
SEM
高出16.2%
-9.8%
净利率更高
WY
高出3.4%
1.4%
自由现金流更多
SEM
多$133.2M
$-128.0M
两年增速更快
SEM
近两年复合增速
-7.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.5B |
| 净利润 | $20.2M | $74.0M |
| 毛利率 | — | 10.4% |
| 营业利润率 | 4.6% | 16.3% |
| 净利率 | 1.4% | 4.8% |
| 营收同比 | 6.4% | -9.8% |
| 净利润同比 | 225.7% | -8.6% |
| 每股收益（稀释后） | $0.17 | $0.11 |
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SEMWY
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $1.3B | $1.9B | ||
| Q1 25 | $1.4B | $1.8B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.3B | $1.7B | ||
| Q2 24 | $1.3B | $1.9B | ||
| Q1 24 | $1.3B | $1.8B |
净利润SEMWY
| Q4 25 | $20.2M | $74.0M | ||
| Q3 25 | $28.8M | $80.0M | ||
| Q2 25 | $40.6M | $87.0M | ||
| Q1 25 | $56.7M | $83.0M | ||
| Q4 24 | $-16.1M | $81.0M | ||
| Q3 24 | $55.6M | $28.0M | ||
| Q2 24 | $77.6M | $173.0M | ||
| Q1 24 | $96.9M | $114.0M |
毛利率SEMWY
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | 11.9% | ||
| Q2 25 | — | 17.3% | ||
| Q1 25 | — | 19.0% | ||
| Q4 24 | — | 17.8% | ||
| Q3 24 | — | 14.9% | ||
| Q2 24 | — | 20.8% | ||
| Q1 24 | — | 19.8% |
营业利润率SEMWY
| Q4 25 | 4.6% | 16.3% | ||
| Q3 25 | 5.4% | 7.2% | ||
| Q2 25 | 6.5% | 9.4% | ||
| Q1 25 | 8.3% | 10.2% | ||
| Q4 24 | 1.6% | 8.3% | ||
| Q3 24 | 4.3% | 4.6% | ||
| Q2 24 | 5.8% | 13.9% | ||
| Q1 24 | 9.0% | 10.9% |
净利率SEMWY
| Q4 25 | 1.4% | 4.8% | ||
| Q3 25 | 2.1% | 4.7% | ||
| Q2 25 | 3.0% | 4.6% | ||
| Q1 25 | 4.2% | 4.7% | ||
| Q4 24 | -1.2% | 4.7% | ||
| Q3 24 | 4.4% | 1.7% | ||
| Q2 24 | 6.1% | 8.9% | ||
| Q1 24 | 7.3% | 6.3% |
每股收益（稀释后）SEMWY
| Q4 25 | $0.17 | $0.11 | ||
| Q3 25 | $0.23 | $0.11 | ||
| Q2 25 | $0.32 | $0.12 | ||
| Q1 25 | $0.44 | $0.11 | ||
| Q4 24 | $-0.12 | $0.10 | ||
| Q3 24 | $0.43 | $0.04 | ||
| Q2 24 | $0.60 | $0.24 | ||
| Q1 24 | $0.75 | $0.16 |
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 | $26.5M | $464.0M |
| 总债务越低越好 | $1.8B | $5.6B |
| 股东权益账面价值 | $1.7B | $9.4B |
| 总资产 | $5.9B | $16.6B |
| 负债/权益比越低杠杆越低 | 1.06× | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资SEMWY
| Q4 25 | $26.5M | $464.0M | ||
| Q3 25 | $60.1M | $401.0M | ||
| Q2 25 | $52.3M | $592.0M | ||
| Q1 25 | $53.2M | $560.0M | ||
| Q4 24 | $59.7M | $684.0M | ||
| Q3 24 | $191.5M | $877.0M | ||
| Q2 24 | $111.2M | $997.0M | ||
| Q1 24 | $92.6M | $871.0M |
总债务SEMWY
| Q4 25 | $1.8B | $5.6B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.7B | $5.1B | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.6B | — | ||
| Q1 24 | $3.8B | — |
股东权益SEMWY
| Q4 25 | $1.7B | $9.4B | ||
| Q3 25 | $1.7B | $9.4B | ||
| Q2 25 | $1.7B | $9.5B | ||
| Q1 25 | $1.7B | $9.6B | ||
| Q4 24 | $1.7B | $9.7B | ||
| Q3 24 | $1.9B | $9.9B | ||
| Q2 24 | $1.4B | $10.0B | ||
| Q1 24 | $1.4B | $10.1B |
总资产SEMWY
| Q4 25 | $5.9B | $16.6B | ||
| Q3 25 | $5.7B | $16.7B | ||
| Q2 25 | $5.7B | $16.5B | ||
| Q1 25 | $5.7B | $16.5B | ||
| Q4 24 | $5.6B | $16.5B | ||
| Q3 24 | $8.0B | $16.7B | ||
| Q2 24 | $7.9B | $16.8B | ||
| Q1 24 | $7.9B | $16.8B |
负债/权益比SEMWY
| Q4 25 | 1.06× | 0.59× | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.10× | — | ||
| Q1 25 | 1.03× | — | ||
| Q4 24 | 1.01× | 0.52× | ||
| Q3 24 | 1.62× | — | ||
| Q2 24 | 2.54× | — | ||
| Q1 24 | 2.75× | — |
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 | $64.3M | $-114.0M |
| 自由现金流经营现金流 - 资本支出 | $5.2M | $-128.0M |
| 自由现金流率自由现金流/营收 | 0.4% | -8.3% |
| 资本支出强度资本支出/营收 | 4.2% | 0.9% |
| 现金转化率经营现金流/净利润 | 3.19× | -1.54× |
| 过去12个月自由现金流最近4个季度 | $117.2M | $511.0M |
8季度趋势，按日历期对齐
经营现金流SEMWY
| Q4 25 | $64.3M | $-114.0M | ||
| Q3 25 | $175.3M | $210.0M | ||
| Q2 25 | $110.3M | $396.0M | ||
| Q1 25 | $-3.5M | $70.0M | ||
| Q4 24 | $125.4M | $218.0M | ||
| Q3 24 | $181.0M | $234.0M | ||
| Q2 24 | $278.2M | $432.0M | ||
| Q1 24 | $-66.7M | $124.0M |
自由现金流SEMWY
| Q4 25 | $5.2M | $-128.0M | ||
| Q3 25 | $122.2M | $203.0M | ||
| Q2 25 | $45.6M | $388.0M | ||
| Q1 25 | $-55.8M | $48.0M | ||
| Q4 24 | $62.0M | $205.0M | ||
| Q3 24 | $130.3M | $226.0M | ||
| Q2 24 | $222.6M | $423.0M | ||
| Q1 24 | $-119.2M | $102.0M |
自由现金流率SEMWY
| Q4 25 | 0.4% | -8.3% | ||
| Q3 25 | 9.0% | 11.8% | ||
| Q2 25 | 3.4% | 20.6% | ||
| Q1 25 | -4.1% | 2.7% | ||
| Q4 24 | 4.7% | 12.0% | ||
| Q3 24 | 10.2% | 13.4% | ||
| Q2 24 | 17.4% | 21.8% | ||
| Q1 24 | -9.0% | 5.7% |
资本支出强度SEMWY
| Q4 25 | 4.2% | 0.9% | ||
| Q3 25 | 3.9% | 0.4% | ||
| Q2 25 | 4.8% | 0.4% | ||
| Q1 25 | 3.9% | 1.2% | ||
| Q4 24 | 4.8% | 0.8% | ||
| Q3 24 | 4.0% | 0.5% | ||
| Q2 24 | 4.3% | 0.5% | ||
| Q1 24 | 4.0% | 1.2% |
现金转化率SEMWY
| Q4 25 | 3.19× | -1.54× | ||
| Q3 25 | 6.09× | 2.63× | ||
| Q2 25 | 2.72× | 4.55× | ||
| Q1 25 | -0.06× | 0.84× | ||
| Q4 24 | — | 2.69× | ||
| Q3 24 | 3.25× | 8.36× | ||
| Q2 24 | 3.59× | 2.50× | ||
| Q1 24 | -0.69× | 1.09× |
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
SEM
| Critical Illness Recovery Hospitals | $629.7M | 45% |
| Health Care Patient Service Non Medicare | $428.6M | 31% |
| Rehabilitation Hospitals | $339.2M | 24% |
WY
暂无分部数据
