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Sanara MedTech Inc.（SMTI）与捷迈邦美（ZBH）财务数据对比。点击上方公司名可切换其他公司
捷迈邦美的季度营收约是Sanara MedTech Inc.的81.5倍（$2.2B vs $27.5M）。捷迈邦美净利率更高（6.2% vs -5.9%，领先12.1%）。捷迈邦美同比增速更快（10.9% vs 4.6%）。捷迈邦美自由现金流更多（$442.6M vs $3.9M）。过去两年Sanara MedTech Inc.的营收复合增速更高（21.8% vs 9.0%）
Sanara MedTech Inc.是一家总部位于美国的医疗科技企业，专注于研发、生产和销售外科手术、伤口护理、康复期护理类创新医疗产品，主要服务北美地区的医院、医疗机构及长期护理场所，旗下多款产品获FDA认证，旨在提升患者护理效果并降低医疗运营成本。
捷迈邦美是一家美国上市的医疗设备企业，1927年成立，最初以生产铝制夹板为核心业务，总部设于印第安纳州华沙市，是当地医疗设备产业集群的核心成员，在全球骨科医疗器械领域拥有较高知名度。
SMTI vs ZBH — 直观对比
营收规模更大
ZBH
是对方的81.5倍
$27.5M
营收增速更快
ZBH
高出6.3%
4.6%
净利率更高
ZBH
高出12.1%
-5.9%
自由现金流更多
ZBH
多$438.7M
$3.9M
两年增速更快
SMTI
近两年复合增速
9.0%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $27.5M | $2.2B |
| 净利润 | $-1.6M | $139.4M |
| 毛利率 | 93.2% | 64.7% |
| 营业利润率 | 23.5% | 6.9% |
| 净利率 | -5.9% | 6.2% |
| 营收同比 | 4.6% | 10.9% |
| 净利润同比 | 5.3% | -41.8% |
| 每股收益（稀释后） | $-0.32 | $0.71 |
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SMTIZBH
| Q4 25 | $27.5M | $2.2B | ||
| Q3 25 | $26.3M | $2.0B | ||
| Q2 25 | $25.8M | $2.1B | ||
| Q1 25 | $23.4M | $1.9B | ||
| Q4 24 | $26.3M | $2.0B | ||
| Q3 24 | $21.7M | $1.8B | ||
| Q2 24 | $20.2M | $1.9B | ||
| Q1 24 | $18.5M | $1.9B |
净利润SMTIZBH
| Q4 25 | $-1.6M | $139.4M | ||
| Q3 25 | $-30.4M | $230.9M | ||
| Q2 25 | $-2.0M | $152.8M | ||
| Q1 25 | $-3.5M | $182.0M | ||
| Q4 24 | $-1.7M | $239.5M | ||
| Q3 24 | $-2.9M | $249.1M | ||
| Q2 24 | $-3.5M | $242.8M | ||
| Q1 24 | $-1.8M | $172.4M |
毛利率SMTIZBH
| Q4 25 | 93.2% | 64.7% | ||
| Q3 25 | 92.9% | 72.1% | ||
| Q2 25 | 92.5% | 71.5% | ||
| Q1 25 | 92.2% | 71.2% | ||
| Q4 24 | 91.4% | 71.0% | ||
| Q3 24 | 90.8% | 70.5% | ||
| Q2 24 | 90.0% | 71.5% | ||
| Q1 24 | 89.8% | 72.9% |
营业利润率SMTIZBH
| Q4 25 | 23.5% | 6.9% | ||
| Q3 25 | 11.2% | 17.6% | ||
| Q2 25 | -0.1% | 14.4% | ||
| Q1 25 | -8.9% | 15.3% | ||
| Q4 24 | 18.6% | 19.2% | ||
| Q3 24 | 3.6% | 15.3% | ||
| Q2 24 | -14.3% | 18.1% | ||
| Q1 24 | -8.3% | 14.1% |
净利率SMTIZBH
| Q4 25 | -5.9% | 6.2% | ||
| Q3 25 | -115.5% | 11.5% | ||
| Q2 25 | -7.8% | 7.4% | ||
| Q1 25 | -15.1% | 9.5% | ||
| Q4 24 | -6.5% | 11.8% | ||
| Q3 24 | -13.2% | 13.7% | ||
| Q2 24 | -17.4% | 12.5% | ||
| Q1 24 | -9.5% | 9.1% |
每股收益（稀释后）SMTIZBH
| Q4 25 | $-0.32 | $0.71 | ||
| Q3 25 | $-3.40 | $1.16 | ||
| Q2 25 | $-0.23 | $0.77 | ||
| Q1 25 | $-0.41 | $0.91 | ||
| Q4 24 | $-0.18 | $1.18 | ||
| Q3 24 | $-0.34 | $1.23 | ||
| Q2 24 | $-0.41 | $1.18 | ||
| Q1 24 | $-0.21 | $0.84 |
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 | $16.6M | $591.9M |
| 总债务越低越好 | $46.0M | — |
| 股东权益账面价值 | $5.9M | $12.7B |
| 总资产 | $72.9M | $23.1B |
| 负债/权益比越低杠杆越低 | 7.74× | — |
8季度趋势，按日历期对齐
现金及短期投资SMTIZBH
| Q4 25 | $16.6M | $591.9M | ||
| Q3 25 | $14.9M | $1.3B | ||
| Q2 25 | $17.0M | $556.9M | ||
| Q1 25 | $20.7M | $1.4B | ||
| Q4 24 | $15.9M | $525.5M | ||
| Q3 24 | $16.3M | $569.0M | ||
| Q2 24 | $6.2M | $420.1M | ||
| Q1 24 | $2.8M | $393.0M |
总债务SMTIZBH
| Q4 25 | $46.0M | — | ||
| Q3 25 | $45.1M | — | ||
| Q2 25 | $44.2M | — | ||
| Q1 25 | $43.4M | — | ||
| Q4 24 | $30.7M | — | ||
| Q3 24 | $30.1M | — | ||
| Q2 24 | $14.4M | — | ||
| Q1 24 | $9.7M | — |
股东权益SMTIZBH
| Q4 25 | $5.9M | $12.7B | ||
| Q3 25 | $6.1M | $12.8B | ||
| Q2 25 | $35.4M | $12.5B | ||
| Q1 25 | $36.7M | $12.4B | ||
| Q4 24 | $39.4M | $12.5B | ||
| Q3 24 | $39.8M | $12.4B | ||
| Q2 24 | $41.7M | $12.7B | ||
| Q1 24 | $43.3M | $12.6B |
总资产SMTIZBH
| Q4 25 | $72.9M | $23.1B | ||
| Q3 25 | $71.1M | $23.5B | ||
| Q2 25 | $98.8M | $22.9B | ||
| Q1 25 | $96.4M | $22.2B | ||
| Q4 24 | $88.1M | $21.4B | ||
| Q3 24 | $88.5M | $21.7B | ||
| Q2 24 | $73.4M | $21.5B | ||
| Q1 24 | $70.9M | $21.5B |
负债/权益比SMTIZBH
| Q4 25 | 7.74× | — | ||
| Q3 25 | 7.33× | — | ||
| Q2 25 | 1.25× | — | ||
| Q1 25 | 1.18× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 0.76× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 24 | 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 | $3.9M | $517.4M |
| 自由现金流经营现金流 - 资本支出 | $3.9M | $442.6M |
| 自由现金流率自由现金流/营收 | 14.0% | 19.7% |
| 资本支出强度资本支出/营收 | 0.3% | 3.3% |
| 现金转化率经营现金流/净利润 | — | 3.71× |
| 过去12个月自由现金流最近4个季度 | $2.2M | $1.5B |
8季度趋势，按日历期对齐
经营现金流SMTIZBH
| Q4 25 | $3.9M | $517.4M | ||
| Q3 25 | $2.2M | $418.7M | ||
| Q2 25 | $2.7M | $378.2M | ||
| Q1 25 | $-2.0M | $382.8M | ||
| Q4 24 | $932.0K | $506.3M | ||
| Q3 24 | $2.1M | $395.7M | ||
| Q2 24 | $-1.4M | $369.4M | ||
| Q1 24 | $-1.6M | $228.0M |
自由现金流SMTIZBH
| Q4 25 | $3.9M | $442.6M | ||
| Q3 25 | $1.1M | $363.7M | ||
| Q2 25 | $902.7K | $328.1M | ||
| Q1 25 | $-3.7M | $338.2M | ||
| Q4 24 | $859.9K | $454.8M | ||
| Q3 24 | $2.0M | $351.2M | ||
| Q2 24 | $-1.5M | $316.7M | ||
| Q1 24 | $-1.7M | $172.9M |
自由现金流率SMTIZBH
| Q4 25 | 14.0% | 19.7% | ||
| Q3 25 | 4.2% | 18.2% | ||
| Q2 25 | 3.5% | 15.8% | ||
| Q1 25 | -15.9% | 17.7% | ||
| Q4 24 | 3.3% | 22.5% | ||
| Q3 24 | 9.4% | 19.3% | ||
| Q2 24 | -7.3% | 16.3% | ||
| Q1 24 | -9.0% | 9.2% |
资本支出强度SMTIZBH
| Q4 25 | 0.3% | 3.3% | ||
| Q3 25 | 4.0% | 2.7% | ||
| Q2 25 | 6.8% | 2.4% | ||
| Q1 25 | 7.4% | 2.3% | ||
| Q4 24 | 0.3% | 2.5% | ||
| Q3 24 | 0.0% | 2.4% | ||
| Q2 24 | 0.3% | 2.7% | ||
| Q1 24 | 0.4% | 2.9% |
现金转化率SMTIZBH
| Q4 25 | — | 3.71× | ||
| Q3 25 | — | 1.81× | ||
| Q2 25 | — | 2.48× | ||
| Q1 25 | — | 2.10× | ||
| Q4 24 | — | 2.11× | ||
| Q3 24 | — | 1.59× | ||
| Q2 24 | — | 1.52× | ||
| Q1 24 | — | 1.32× |
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
SMTI
| Soft Tissue Repair Products | $24.7M | 90% |
| Bone Fusion Products | $2.8M | 10% |
ZBH
| Knees | $911.0M | 41% |
| SET | $587.6M | 26% |
| Hips | $555.4M | 25% |
| Technology And Data Bone Cement And Surgical | $189.8M | 8% |
