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Surgery Partners, Inc.（SGRY）与SKYWEST INC（SKYW）财务数据对比。点击上方公司名可切换其他公司
SKYWEST INC的季度营收约是Surgery Partners, Inc.的1.1倍（$1.0B vs $885.0M），SKYWEST INC净利率更高（10.0% vs -1.7%，领先11.7%），SKYWEST INC同比增速更快（6.8% vs 2.4%），过去两年Surgery Partners, Inc.的营收复合增速更高（11.1% vs 8.1%）
Surgery Partners, Inc.（NASDAQ代码：SGRY）旗下的United Surgical Partners International（USPI）是美国领先的日间手术护理服务商，总部位于得克萨斯州达拉斯，由唐·斯廷于1998年创立，专注于为患者提供便捷、高效的门诊外科医疗服务，运营多家合规手术中心，覆盖美国多地医疗需求场景。
天西航空（SkyWest Inc.）是总部位于美国犹他州圣乔治的控股企业，旗下主营北美支线航空公司天西航空，同时运营飞机租赁业务，是北美区域航空运营领域的重要参与者。
SGRY vs SKYW — 直观对比
营收规模更大
SKYW
是对方的1.1倍
$885.0M
营收增速更快
SKYW
高出4.4%
2.4%
净利率更高
SKYW
高出11.7%
-1.7%
两年增速更快
SGRY
近两年复合增速
8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $885.0M | $1.0B |
| 净利润 | $-15.0M | $101.7M |
| 毛利率 | — | — |
| 营业利润率 | 12.5% | 12.2% |
| 净利率 | -1.7% | 10.0% |
| 营收同比 | 2.4% | 6.8% |
| 净利润同比 | 86.2% | 1.1% |
| 每股收益（稀释后） | $-0.11 | $2.50 |
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SGRYSKYW
| Q1 26 | — | $1.0B | ||
| Q4 25 | $885.0M | $1.0B | ||
| Q3 25 | $821.5M | $1.1B | ||
| Q2 25 | $826.2M | $1.0B | ||
| Q1 25 | $776.0M | $948.5M | ||
| Q4 24 | $864.4M | $944.4M | ||
| Q3 24 | $770.4M | $912.8M | ||
| Q2 24 | $762.1M | $867.1M |
净利润SGRYSKYW
| Q1 26 | — | $101.7M | ||
| Q4 25 | $-15.0M | $91.2M | ||
| Q3 25 | $-22.7M | $116.4M | ||
| Q2 25 | $-2.5M | $120.3M | ||
| Q1 25 | $-37.7M | $100.6M | ||
| Q4 24 | $-108.5M | $97.4M | ||
| Q3 24 | $-31.7M | $89.7M | ||
| Q2 24 | $-15.5M | $75.6M |
营业利润率SGRYSKYW
| Q1 26 | — | 12.2% | ||
| Q4 25 | 12.5% | 13.1% | ||
| Q3 25 | 12.9% | 16.6% | ||
| Q2 25 | 13.5% | 16.4% | ||
| Q1 25 | 8.0% | 14.7% | ||
| Q4 24 | 14.7% | 15.3% | ||
| Q3 24 | 7.9% | 14.4% | ||
| Q2 24 | 11.1% | 13.8% |
净利率SGRYSKYW
| Q1 26 | — | 10.0% | ||
| Q4 25 | -1.7% | 8.9% | ||
| Q3 25 | -2.8% | 11.1% | ||
| Q2 25 | -0.3% | 11.6% | ||
| Q1 25 | -4.9% | 10.6% | ||
| Q4 24 | -12.6% | 10.3% | ||
| Q3 24 | -4.1% | 9.8% | ||
| Q2 24 | -2.0% | 8.7% |
每股收益（稀释后）SGRYSKYW
| Q1 26 | — | $2.50 | ||
| Q4 25 | $-0.11 | $2.21 | ||
| Q3 25 | $-0.18 | $2.81 | ||
| Q2 25 | $-0.02 | $2.91 | ||
| Q1 25 | $-0.30 | $2.42 | ||
| Q4 24 | $-0.86 | $2.34 | ||
| Q3 24 | $-0.25 | $2.16 | ||
| Q2 24 | $-0.12 | $1.82 |
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 | $239.9M | — |
| 总债务越低越好 | $3.6B | $1.8B |
| 股东权益账面价值 | $1.7B | $2.7B |
| 总资产 | $8.1B | $7.3B |
| 负债/权益比越低杠杆越低 | 2.10× | 0.66× |
8季度趋势，按日历期对齐
现金及短期投资SGRYSKYW
| Q1 26 | — | — | ||
| Q4 25 | $239.9M | $122.7M | ||
| Q3 25 | $203.4M | $44.5M | ||
| Q2 25 | $250.1M | $48.3M | ||
| Q1 25 | $229.3M | $179.0M | ||
| Q4 24 | $269.5M | $227.4M | ||
| Q3 24 | $221.8M | $177.6M | ||
| Q2 24 | $213.5M | $141.8M |
总债务SGRYSKYW
| Q1 26 | — | $1.8B | ||
| Q4 25 | $3.6B | — | ||
| Q3 25 | $3.5B | $2.4B | ||
| Q2 25 | $3.5B | $2.5B | ||
| Q1 25 | $3.4B | $2.6B | ||
| Q4 24 | $3.3B | $2.7B | ||
| Q3 24 | $3.1B | $2.7B | ||
| Q2 24 | $3.0B | $2.8B |
股东权益SGRYSKYW
| Q1 26 | — | $2.7B | ||
| Q4 25 | $1.7B | $2.7B | ||
| Q3 25 | $1.7B | $2.7B | ||
| Q2 25 | $1.7B | $2.6B | ||
| Q1 25 | $1.7B | $2.5B | ||
| Q4 24 | $1.8B | $2.4B | ||
| Q3 24 | $1.9B | $2.3B | ||
| Q2 24 | $2.0B | $2.2B |
总资产SGRYSKYW
| Q1 26 | — | $7.3B | ||
| Q4 25 | $8.1B | $7.4B | ||
| Q3 25 | $7.9B | $7.2B | ||
| Q2 25 | $8.0B | $7.2B | ||
| Q1 25 | $7.9B | $7.1B | ||
| Q4 24 | $7.9B | $7.1B | ||
| Q3 24 | $7.5B | $7.0B | ||
| Q2 24 | $7.5B | $7.0B |
负债/权益比SGRYSKYW
| Q1 26 | — | 0.66× | ||
| Q4 25 | 2.10× | — | ||
| Q3 25 | 2.00× | 0.89× | ||
| Q2 25 | 1.98× | 0.97× | ||
| Q1 25 | 1.98× | 1.03× | ||
| Q4 24 | 1.83× | 1.11× | ||
| Q3 24 | 1.63× | 1.17× | ||
| Q2 24 | 1.56× | 1.25× |
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 | $103.4M | — |
| 自由现金流经营现金流 - 资本支出 | $90.6M | — |
| 自由现金流率自由现金流/营收 | 10.2% | — |
| 资本支出强度资本支出/营收 | 1.4% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $195.6M | — |
8季度趋势，按日历期对齐
经营现金流SGRYSKYW
| Q1 26 | — | — | ||
| Q4 25 | $103.4M | $231.5M | ||
| Q3 25 | $83.6M | $280.8M | ||
| Q2 25 | $81.3M | $257.1M | ||
| Q1 25 | $6.0M | $171.0M | ||
| Q4 24 | $111.4M | $185.9M | ||
| Q3 24 | $65.2M | $183.6M | ||
| Q2 24 | $82.8M | $165.3M |
自由现金流SGRYSKYW
| Q1 26 | — | — | ||
| Q4 25 | $90.6M | $224.3M | ||
| Q3 25 | $63.8M | $269.9M | ||
| Q2 25 | $57.9M | $251.5M | ||
| Q1 25 | $-16.7M | $162.6M | ||
| Q4 24 | $89.1M | $162.7M | ||
| Q3 24 | $45.0M | $172.1M | ||
| Q2 24 | $55.9M | $159.4M |
自由现金流率SGRYSKYW
| Q1 26 | — | — | ||
| Q4 25 | 10.2% | 21.9% | ||
| Q3 25 | 7.8% | 25.7% | ||
| Q2 25 | 7.0% | 24.3% | ||
| Q1 25 | -2.2% | 17.1% | ||
| Q4 24 | 10.3% | 17.2% | ||
| Q3 24 | 5.8% | 18.9% | ||
| Q2 24 | 7.3% | 18.4% |
资本支出强度SGRYSKYW
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 0.7% | ||
| Q3 25 | 2.4% | 1.0% | ||
| Q2 25 | 2.8% | 0.5% | ||
| Q1 25 | 2.9% | 0.9% | ||
| Q4 24 | 2.6% | 2.5% | ||
| Q3 24 | 2.6% | 1.3% | ||
| Q2 24 | 3.5% | 0.7% |
现金转化率SGRYSKYW
| Q1 26 | — | — | ||
| Q4 25 | — | 2.54× | ||
| Q3 25 | — | 2.41× | ||
| Q2 25 | — | 2.14× | ||
| Q1 25 | — | 1.70× | ||
| Q4 24 | — | 1.91× | ||
| Q3 24 | — | 2.05× | ||
| Q2 24 | — | 2.19× |
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
SGRY
| Private Insurance | $460.5M | 52% |
| Government Revenue | $368.6M | 42% |
| Other | $19.8M | 2% |
| Self Pay Revenue | $19.6M | 2% |
| Other Patient Service Revenue Sources | $16.5M | 2% |
SKYW
| Flying agreements | $977.9M | 97% |
| Lease, airport services and other | $35.3M | 3% |
