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TENET HEALTHCARE CORP（THC）与Wabtec（WAB）财务数据对比。点击上方公司名可切换其他公司
TENET HEALTHCARE CORP的季度营收约是Wabtec的1.9倍（$5.5B vs $3.0B），Wabtec净利率更高（12.3% vs 11.7%，领先0.7%），Wabtec同比增速更快（13.0% vs 9.0%），过去两年Wabtec的营收复合增速更高（5.6% vs 1.5%）
Tenet Healthcare Corporation是总部位于美国达拉斯的营利性跨国医疗服务企业，旗下拥有USPI等多个品牌、子公司、合资企业及合作主体，运营65家医院及超过450个医疗设施，还通过旗下Conifer Health Solutions为各类医疗系统及其他客户提供专业医疗支持服务
西屋空气制动技术公司（通称Wabtec）是美国知名轨道交通设备企业，1999年由西屋空气制动公司（WABCO）与动力设备厂商MotivePower合并组建，总部设于宾夕法尼亚州匹兹堡，在全球轨交制动系统、牵引动力设备等领域拥有领先的技术实力与市场份额。
THC vs WAB — 直观对比
营收规模更大
THC
是对方的1.9倍
$3.0B
营收增速更快
WAB
高出4.1%
9.0%
净利率更高
WAB
高出0.7%
11.7%
两年增速更快
WAB
近两年复合增速
1.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $3.0B |
| 净利润 | $644.0M | $363.0M |
| 毛利率 | — | 36.0% |
| 营业利润率 | 15.4% | 17.5% |
| 净利率 | 11.7% | 12.3% |
| 营收同比 | 9.0% | 13.0% |
| 净利润同比 | 12.6% | 11.0% |
| 每股收益（稀释后） | $4.22 | $2.12 |
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THCWAB
| Q1 26 | — | $3.0B | ||
| Q4 25 | $5.5B | $3.0B | ||
| Q3 25 | $5.3B | $2.9B | ||
| Q2 25 | $5.3B | $2.7B | ||
| Q1 25 | $5.2B | $2.6B | ||
| Q4 24 | $5.1B | $2.6B | ||
| Q3 24 | $5.1B | $2.7B | ||
| Q2 24 | $5.1B | $2.6B |
净利润THCWAB
| Q1 26 | — | $363.0M | ||
| Q4 25 | $644.0M | $202.0M | ||
| Q3 25 | $579.0M | $310.0M | ||
| Q2 25 | $522.0M | $336.0M | ||
| Q1 25 | $622.0M | $322.0M | ||
| Q4 24 | $572.0M | $212.0M | ||
| Q3 24 | $681.0M | $283.0M | ||
| Q2 24 | $477.0M | $289.0M |
毛利率THCWAB
| Q1 26 | — | 36.0% | ||
| Q4 25 | — | 32.6% | ||
| Q3 25 | — | 34.7% | ||
| Q2 25 | — | 34.7% | ||
| Q1 25 | — | 34.5% | ||
| Q4 24 | — | 30.9% | ||
| Q3 24 | — | 33.0% | ||
| Q2 24 | — | 33.1% |
营业利润率THCWAB
| Q1 26 | — | 17.5% | ||
| Q4 25 | 15.4% | 12.0% | ||
| Q3 25 | 16.8% | 17.0% | ||
| Q2 25 | 15.6% | 17.4% | ||
| Q1 25 | 18.1% | 18.2% | ||
| Q4 24 | 16.2% | 12.9% | ||
| Q3 24 | 21.3% | 16.3% | ||
| Q2 24 | 14.9% | 16.3% |
净利率THCWAB
| Q1 26 | — | 12.3% | ||
| Q4 25 | 11.7% | 6.8% | ||
| Q3 25 | 10.9% | 10.7% | ||
| Q2 25 | 9.9% | 12.4% | ||
| Q1 25 | 11.9% | 12.3% | ||
| Q4 24 | 11.3% | 8.2% | ||
| Q3 24 | 13.3% | 10.6% | ||
| Q2 24 | 9.3% | 10.9% |
每股收益（稀释后）THCWAB
| Q1 26 | — | $2.12 | ||
| Q4 25 | $4.22 | $1.18 | ||
| Q3 25 | $3.86 | $1.81 | ||
| Q2 25 | $3.14 | $1.96 | ||
| Q1 25 | $4.27 | $1.88 | ||
| Q4 24 | $3.79 | $1.24 | ||
| Q3 24 | $4.89 | $1.63 | ||
| Q2 24 | $2.64 | $1.64 |
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 | $2.9B | — |
| 总债务越低越好 | $13.1B | $4.7B |
| 股东权益账面价值 | $4.2B | $11.1B |
| 总资产 | $29.7B | $23.2B |
| 负债/权益比越低杠杆越低 | 3.10× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资THCWAB
| Q1 26 | — | — | ||
| Q4 25 | $2.9B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $2.9B | — |
总债务THCWAB
| Q1 26 | — | $4.7B | ||
| Q4 25 | $13.1B | $5.5B | ||
| Q3 25 | $13.1B | $5.3B | ||
| Q2 25 | $13.1B | $4.8B | ||
| Q1 25 | $13.1B | $4.0B | ||
| Q4 24 | $13.1B | $4.0B | ||
| Q3 24 | $12.8B | $4.0B | ||
| Q2 24 | $12.8B | $4.0B |
股东权益THCWAB
| Q1 26 | — | $11.1B | ||
| Q4 25 | $4.2B | $11.1B | ||
| Q3 25 | $4.0B | $11.0B | ||
| Q2 25 | $3.7B | $10.8B | ||
| Q1 25 | $4.2B | $10.4B | ||
| Q4 24 | $4.2B | $10.1B | ||
| Q3 24 | $3.8B | $10.3B | ||
| Q2 24 | $3.5B | $10.5B |
总资产THCWAB
| Q1 26 | — | $23.2B | ||
| Q4 25 | $29.7B | $22.1B | ||
| Q3 25 | $29.4B | $21.5B | ||
| Q2 25 | $28.7B | $20.4B | ||
| Q1 25 | $29.2B | $19.1B | ||
| Q4 24 | $28.9B | $18.7B | ||
| Q3 24 | $29.4B | $18.6B | ||
| Q2 24 | $29.3B | $18.9B |
负债/权益比THCWAB
| Q1 26 | — | 0.42× | ||
| Q4 25 | 3.10× | 0.50× | ||
| Q3 25 | 3.26× | 0.48× | ||
| Q2 25 | 3.49× | 0.44× | ||
| Q1 25 | 3.13× | 0.39× | ||
| Q4 24 | 3.14× | 0.39× | ||
| Q3 24 | 3.33× | 0.39× | ||
| Q2 24 | 3.67× | 0.38× |
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 | $731.0M | $199.0M |
| 自由现金流经营现金流 - 资本支出 | $367.0M | — |
| 自由现金流率自由现金流/营收 | 6.6% | — |
| 资本支出强度资本支出/营收 | 6.6% | — |
| 现金转化率经营现金流/净利润 | 1.14× | 0.55× |
| 过去12个月自由现金流最近4个季度 | $2.5B | — |
8季度趋势，按日历期对齐
经营现金流THCWAB
| Q1 26 | — | $199.0M | ||
| Q4 25 | $731.0M | $992.0M | ||
| Q3 25 | $1.1B | $367.0M | ||
| Q2 25 | $936.0M | $209.0M | ||
| Q1 25 | $815.0M | $191.0M | ||
| Q4 24 | $-331.0M | $723.0M | ||
| Q3 24 | $1.0B | $542.0M | ||
| Q2 24 | $747.0M | $235.0M |
自由现金流THCWAB
| Q1 26 | — | — | ||
| Q4 25 | $367.0M | $870.0M | ||
| Q3 25 | $778.0M | $312.0M | ||
| Q2 25 | $743.0M | $170.0M | ||
| Q1 25 | $642.0M | $147.0M | ||
| Q4 24 | $-661.0M | $639.0M | ||
| Q3 24 | $829.0M | $496.0M | ||
| Q2 24 | $602.0M | $189.0M |
自由现金流率THCWAB
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 29.3% | ||
| Q3 25 | 14.7% | 10.8% | ||
| Q2 25 | 14.1% | 6.3% | ||
| Q1 25 | 12.3% | 5.6% | ||
| Q4 24 | -13.0% | 24.7% | ||
| Q3 24 | 16.2% | 18.6% | ||
| Q2 24 | 11.8% | 7.1% |
资本支出强度THCWAB
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 4.1% | ||
| Q3 25 | 5.3% | 1.9% | ||
| Q2 25 | 3.7% | 1.4% | ||
| Q1 25 | 3.3% | 1.7% | ||
| Q4 24 | 6.5% | 3.3% | ||
| Q3 24 | 4.2% | 1.7% | ||
| Q2 24 | 2.8% | 1.7% |
现金转化率THCWAB
| Q1 26 | — | 0.55× | ||
| Q4 25 | 1.14× | 4.91× | ||
| Q3 25 | 1.83× | 1.18× | ||
| Q2 25 | 1.79× | 0.62× | ||
| Q1 25 | 1.31× | 0.59× | ||
| Q4 24 | -0.58× | 3.41× | ||
| Q3 24 | 1.53× | 1.92× | ||
| Q2 24 | 1.57× | 0.81× |
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
THC
| Other | $2.9B | 52% |
| Health Care Patient Service | $1.4B | 25% |
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.2B | 22% |
| Health Care Other Sources | $56.0M | 1% |
WAB
暂无分部数据
