vs
null（SWIM）与U S PHYSICAL THERAPY INC（USPH）财务数据对比。点击上方公司名可切换其他公司
U S PHYSICAL THERAPY INC的季度营收约是null的1.7倍（$202.7M vs $117.3M），U S PHYSICAL THERAPY INC净利率更高（2.0% vs -7.3%，领先9.3%），U S PHYSICAL THERAPY INC同比增速更快（12.3% vs 5.3%），过去两年U S PHYSICAL THERAPY INC的营收复合增速更高（14.1% vs -14.4%）
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
该企业是美国领先的门诊康复服务提供商，运营数百间线下物理治疗门诊，为受伤、术后、慢性疼痛及行动障碍人群提供康复护理，同时覆盖运动医学、职业治疗、儿童康复等特色服务领域。
SWIM vs USPH — 直观对比
营收规模更大
USPH
是对方的1.7倍
$117.3M
营收增速更快
USPH
高出7.1%
5.3%
净利率更高
USPH
高出9.3%
-7.3%
两年增速更快
USPH
近两年复合增速
-14.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $117.3M | $202.7M |
| 净利润 | $-8.5M | $4.2M |
| 毛利率 | 31.7% | 19.8% |
| 营业利润率 | — | 8.3% |
| 净利率 | -7.3% | 2.0% |
| 营收同比 | 5.3% | 12.3% |
| 净利润同比 | -43.1% | -55.1% |
| 每股收益（稀释后） | $-0.07 | $-0.44 |
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SWIMUSPH
| Q1 26 | $117.3M | — | ||
| Q4 25 | $100.0M | $202.7M | ||
| Q3 25 | $161.9M | $197.1M | ||
| Q2 25 | $172.6M | $197.3M | ||
| Q1 25 | $111.4M | $183.8M | ||
| Q4 24 | $87.3M | $180.4M | ||
| Q3 24 | $150.5M | $168.0M | ||
| Q2 24 | $160.1M | $167.2M |
净利润SWIMUSPH
| Q1 26 | $-8.5M | — | ||
| Q4 25 | $-7.0M | $4.2M | ||
| Q3 25 | $8.1M | $13.1M | ||
| Q2 25 | $16.0M | $12.4M | ||
| Q1 25 | $-6.0M | $9.9M | ||
| Q4 24 | $-29.2M | $9.2M | ||
| Q3 24 | $5.9M | $6.6M | ||
| Q2 24 | $13.3M | $7.5M |
毛利率SWIMUSPH
| Q1 26 | 31.7% | — | ||
| Q4 25 | 28.0% | 19.8% | ||
| Q3 25 | 35.4% | 18.7% | ||
| Q2 25 | 37.1% | 21.1% | ||
| Q1 25 | 29.5% | 16.9% | ||
| Q4 24 | 24.6% | 18.0% | ||
| Q3 24 | 32.4% | 17.3% | ||
| Q2 24 | 33.1% | 20.3% |
营业利润率SWIMUSPH
| Q1 26 | — | — | ||
| Q4 25 | -10.7% | 8.3% | ||
| Q3 25 | 13.3% | 12.8% | ||
| Q2 25 | 14.3% | 12.6% | ||
| Q1 25 | -4.4% | 10.7% | ||
| Q4 24 | -14.9% | 10.9% | ||
| Q3 24 | 8.9% | 7.6% | ||
| Q2 24 | 12.5% | 9.3% |
净利率SWIMUSPH
| Q1 26 | -7.3% | — | ||
| Q4 25 | -7.0% | 2.0% | ||
| Q3 25 | 5.0% | 6.7% | ||
| Q2 25 | 9.3% | 6.3% | ||
| Q1 25 | -5.4% | 5.4% | ||
| Q4 24 | -33.4% | 5.1% | ||
| Q3 24 | 3.9% | 3.9% | ||
| Q2 24 | 8.3% | 4.5% |
每股收益（稀释后）SWIMUSPH
| Q1 26 | $-0.07 | — | ||
| Q4 25 | $-0.06 | $-0.44 | ||
| Q3 25 | $0.07 | $0.48 | ||
| Q2 25 | $0.13 | $0.58 | ||
| Q1 25 | $-0.05 | $0.80 | ||
| Q4 24 | $-0.24 | $0.52 | ||
| Q3 24 | $0.05 | $0.39 | ||
| Q2 24 | $0.11 | $0.47 |
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 | — | $35.6M |
| 总债务越低越好 | $3.3M | — |
| 股东权益账面价值 | $396.7M | $476.4M |
| 总资产 | $856.4M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.01× | — |
8季度趋势，按日历期对齐
现金及短期投资SWIMUSPH
| Q1 26 | — | — | ||
| Q4 25 | — | $35.6M | ||
| Q3 25 | — | $31.1M | ||
| Q2 25 | — | $34.1M | ||
| Q1 25 | — | $39.2M | ||
| Q4 24 | — | $41.4M | ||
| Q3 24 | — | $117.0M | ||
| Q2 24 | — | $112.9M |
总债务SWIMUSPH
| Q1 26 | $3.3M | — | ||
| Q4 25 | $279.8M | — | ||
| Q3 25 | $281.1M | — | ||
| Q2 25 | $281.5M | — | ||
| Q1 25 | $306.9M | — | ||
| Q4 24 | $281.5M | — | ||
| Q3 24 | $282.8M | — | ||
| Q2 24 | $282.4M | — |
股东权益SWIMUSPH
| Q1 26 | $396.7M | — | ||
| Q4 25 | $405.9M | $476.4M | ||
| Q3 25 | $408.4M | $503.6M | ||
| Q2 25 | $398.4M | $500.8M | ||
| Q1 25 | $381.1M | $497.3M | ||
| Q4 24 | $387.2M | $488.9M | ||
| Q3 24 | $416.6M | $482.8M | ||
| Q2 24 | $408.1M | $484.6M |
总资产SWIMUSPH
| Q1 26 | $856.4M | — | ||
| Q4 25 | $823.2M | $1.2B | ||
| Q3 25 | $844.4M | $1.2B | ||
| Q2 25 | $822.1M | $1.2B | ||
| Q1 25 | $824.6M | $1.2B | ||
| Q4 24 | $794.2M | $1.2B | ||
| Q3 24 | $853.4M | $1.0B | ||
| Q2 24 | $830.0M | $1.0B |
负债/权益比SWIMUSPH
| Q1 26 | 0.01× | — | ||
| Q4 25 | 0.69× | — | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.71× | — | ||
| Q1 25 | 0.81× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 0.69× | — |
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 | $-47.7M | $24.9M |
| 自由现金流经营现金流 - 资本支出 | — | $21.0M |
| 自由现金流率自由现金流/营收 | — | 10.4% |
| 资本支出强度资本支出/营收 | — | 1.9% |
| 现金转化率经营现金流/净利润 | — | 6.00× |
| 过去12个月自由现金流最近4个季度 | — | $61.0M |
8季度趋势，按日历期对齐
经营现金流SWIMUSPH
| Q1 26 | $-47.7M | — | ||
| Q4 25 | $23.3M | $24.9M | ||
| Q3 25 | $51.0M | $19.9M | ||
| Q2 25 | $36.0M | $34.9M | ||
| Q1 25 | $-46.9M | $-4.7M | ||
| Q4 24 | $6.2M | $19.4M | ||
| Q3 24 | $37.2M | $22.1M | ||
| Q2 24 | $52.4M | $29.0M |
自由现金流SWIMUSPH
| Q1 26 | — | — | ||
| Q4 25 | $14.1M | $21.0M | ||
| Q3 25 | $45.2M | $15.6M | ||
| Q2 25 | $29.1M | $31.6M | ||
| Q1 25 | $-50.3M | $-7.3M | ||
| Q4 24 | $-98.0K | $16.9M | ||
| Q3 24 | $33.2M | $19.6M | ||
| Q2 24 | $47.9M | $26.7M |
自由现金流率SWIMUSPH
| Q1 26 | — | — | ||
| Q4 25 | 14.1% | 10.4% | ||
| Q3 25 | 27.9% | 7.9% | ||
| Q2 25 | 16.8% | 16.0% | ||
| Q1 25 | -45.2% | -3.9% | ||
| Q4 24 | -0.1% | 9.4% | ||
| Q3 24 | 22.1% | 11.7% | ||
| Q2 24 | 29.9% | 15.9% |
资本支出强度SWIMUSPH
| Q1 26 | — | — | ||
| Q4 25 | 9.2% | 1.9% | ||
| Q3 25 | 3.6% | 2.2% | ||
| Q2 25 | 4.0% | 1.6% | ||
| Q1 25 | 3.1% | 1.4% | ||
| Q4 24 | 7.2% | 1.4% | ||
| Q3 24 | 2.7% | 1.5% | ||
| Q2 24 | 2.8% | 1.4% |
现金转化率SWIMUSPH
| Q1 26 | — | — | ||
| Q4 25 | — | 6.00× | ||
| Q3 25 | 6.29× | 1.52× | ||
| Q2 25 | 2.25× | 2.81× | ||
| Q1 25 | — | -0.47× | ||
| Q4 24 | — | 2.10× | ||
| Q3 24 | 6.32× | 3.34× | ||
| Q2 24 | 3.95× | 3.86× |
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
SWIM
暂无分部数据
USPH
| Net Patient Revenues | $169.7M | 84% |
| Industrial Injury Prevention Services Revenues | $28.9M | 14% |
| Management Contract Revenues | $2.3M | 1% |
