vs
爱彼迎（ABNB）与渤健（BIIB）财务数据对比。点击上方公司名可切换其他公司
爱彼迎的季度营收约是渤健的1.2倍（$2.8B vs $2.3B），爱彼迎净利率更高（12.3% vs -2.1%，领先14.4%），爱彼迎同比增速更快（12.0% vs -7.1%），过去两年爱彼迎的营收复合增速更高（13.9% vs -0.2%）
爱彼迎是全球知名的旅行住宿及体验共享平台，成立于2007年，2010年正式启用现名。平台连接全球各地的房东与旅客，用户可通过网页或移动端预订私人客房、普通住宅、度假屋等多元住宿，也可报名参与当地特色体验项目，是共享经济领域的代表性企业。
渤健是总部位于美国马萨诸塞州剑桥市的跨国生物技术企业，专注于神经系统疾病治疗领域。公司核心产品包括用于多发性硬化症的特菲达、万立能等多款药物，以及治疗脊髓性肌萎缩症的诺西那生钠、治疗弗里德赖希共济失调的Skyclarys，致力于为神经疾病和罕见病患者提供创新疗法。
ABNB vs BIIB — 直观对比
营收规模更大
ABNB
是对方的1.2倍
$2.3B
营收增速更快
ABNB
高出19.2%
-7.1%
净利率更高
ABNB
高出14.4%
-2.1%
两年增速更快
ABNB
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $2.3B |
| 净利润 | $341.0M | $-48.9M |
| 毛利率 | 82.5% | 78.3% |
| 营业利润率 | 9.7% | -2.5% |
| 净利率 | 12.3% | -2.1% |
| 营收同比 | 12.0% | -7.1% |
| 净利润同比 | -26.0% | -118.3% |
| 每股收益（稀释后） | — | $-0.35 |
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ABNBBIIB
| Q4 25 | $2.8B | $2.3B | ||
| Q3 25 | $4.1B | $2.5B | ||
| Q2 25 | $3.1B | $2.6B | ||
| Q1 25 | $2.3B | $2.4B | ||
| Q4 24 | $2.5B | $2.5B | ||
| Q3 24 | $3.7B | $2.5B | ||
| Q2 24 | $2.7B | $2.5B | ||
| Q1 24 | $2.1B | $2.3B |
净利润ABNBBIIB
| Q4 25 | $341.0M | $-48.9M | ||
| Q3 25 | $1.4B | $466.5M | ||
| Q2 25 | $642.0M | $634.8M | ||
| Q1 25 | $154.0M | $240.5M | ||
| Q4 24 | $461.0M | $266.7M | ||
| Q3 24 | $1.4B | $388.5M | ||
| Q2 24 | $555.0M | $583.6M | ||
| Q1 24 | $264.0M | $393.4M |
毛利率ABNBBIIB
| Q4 25 | 82.5% | 78.3% | ||
| Q3 25 | 86.6% | 73.4% | ||
| Q2 25 | 82.4% | 77.1% | ||
| Q1 25 | 77.7% | 74.1% | ||
| Q4 24 | 82.8% | 76.2% | ||
| Q3 24 | 87.5% | 74.1% | ||
| Q2 24 | 81.6% | 77.8% | ||
| Q1 24 | 77.6% | 76.3% |
营业利润率ABNBBIIB
| Q4 25 | 9.7% | -2.5% | ||
| Q3 25 | 39.7% | 22.0% | ||
| Q2 25 | 19.8% | 28.1% | ||
| Q1 25 | 1.7% | 12.8% | ||
| Q4 24 | 17.3% | 11.9% | ||
| Q3 24 | 40.9% | 18.3% | ||
| Q2 24 | 18.1% | 28.3% | ||
| Q1 24 | 4.7% | 20.3% |
净利率ABNBBIIB
| Q4 25 | 12.3% | -2.1% | ||
| Q3 25 | 33.6% | 18.4% | ||
| Q2 25 | 20.7% | 24.0% | ||
| Q1 25 | 6.8% | 9.9% | ||
| Q4 24 | 18.6% | 10.9% | ||
| Q3 24 | 36.7% | 15.8% | ||
| Q2 24 | 20.2% | 23.7% | ||
| Q1 24 | 12.3% | 17.2% |
每股收益（稀释后）ABNBBIIB
| Q4 25 | — | $-0.35 | ||
| Q3 25 | — | $3.17 | ||
| Q2 25 | — | $4.33 | ||
| Q1 25 | — | $1.64 | ||
| Q4 24 | — | $1.82 | ||
| Q3 24 | — | $2.66 | ||
| Q2 24 | — | $4.00 | ||
| Q1 24 | — | $2.70 |
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 | $11.0B | — |
| 总债务越低越好 | — | $6.3B |
| 股东权益账面价值 | $8.2B | $18.3B |
| 总资产 | $22.2B | $29.4B |
| 负债/权益比越低杠杆越低 | — | 0.34× |
8季度趋势，按日历期对齐
现金及短期投资ABNBBIIB
| Q4 25 | $11.0B | — | ||
| Q3 25 | $11.7B | — | ||
| Q2 25 | $11.4B | — | ||
| Q1 25 | $11.5B | — | ||
| Q4 24 | $10.6B | — | ||
| Q3 24 | $11.3B | — | ||
| Q2 24 | $11.3B | — | ||
| Q1 24 | $11.1B | — |
总债务ABNBBIIB
| Q4 25 | — | $6.3B | ||
| Q3 25 | — | $6.3B | ||
| Q2 25 | — | $6.3B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | — | $6.3B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $6.3B | ||
| Q1 24 | — | $6.3B |
股东权益ABNBBIIB
| Q4 25 | $8.2B | $18.3B | ||
| Q3 25 | $8.6B | $18.2B | ||
| Q2 25 | $7.8B | $17.6B | ||
| Q1 25 | $7.9B | $17.0B | ||
| Q4 24 | $8.4B | $16.7B | ||
| Q3 24 | $8.5B | $16.4B | ||
| Q2 24 | $8.0B | $15.9B | ||
| Q1 24 | $7.9B | $15.2B |
总资产ABNBBIIB
| Q4 25 | $22.2B | $29.4B | ||
| Q3 25 | $23.1B | $29.2B | ||
| Q2 25 | $27.0B | $28.3B | ||
| Q1 25 | $25.1B | $28.0B | ||
| Q4 24 | $21.0B | $28.0B | ||
| Q3 24 | $22.2B | $28.3B | ||
| Q2 24 | $26.3B | $26.8B | ||
| Q1 24 | $24.5B | $26.6B |
负债/权益比ABNBBIIB
| Q4 25 | — | 0.34× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | 0.36× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | — | 0.38× | ||
| Q3 24 | — | 0.28× | ||
| Q2 24 | — | 0.40× | ||
| Q1 24 | — | 0.41× |
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 | $526.0M | $511.9M |
| 自由现金流经营现金流 - 资本支出 | — | $468.0M |
| 自由现金流率自由现金流/营收 | — | 20.5% |
| 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 | 1.54× | — |
| 过去12个月自由现金流最近4个季度 | — | $2.1B |
8季度趋势，按日历期对齐
经营现金流ABNBBIIB
| Q4 25 | $526.0M | $511.9M | ||
| Q3 25 | $1.4B | $1.3B | ||
| Q2 25 | $975.0M | $160.9M | ||
| Q1 25 | $1.8B | $259.3M | ||
| Q4 24 | $466.0M | $760.9M | ||
| Q3 24 | $1.1B | $935.6M | ||
| Q2 24 | $1.1B | $625.8M | ||
| Q1 24 | $1.9B | $553.2M |
自由现金流ABNBBIIB
| Q4 25 | — | $468.0M | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $134.3M | ||
| Q1 25 | — | $222.2M | ||
| Q4 24 | — | $721.6M | ||
| Q3 24 | — | $900.6M | ||
| Q2 24 | — | $592.3M | ||
| Q1 24 | — | $507.3M |
自由现金流率ABNBBIIB
| Q4 25 | — | 20.5% | ||
| Q3 25 | — | 48.4% | ||
| Q2 25 | — | 5.1% | ||
| Q1 25 | — | 9.1% | ||
| Q4 24 | — | 29.4% | ||
| Q3 24 | — | 36.5% | ||
| Q2 24 | — | 24.0% | ||
| Q1 24 | — | 22.1% |
资本支出强度ABNBBIIB
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 2.0% |
现金转化率ABNBBIIB
| Q4 25 | 1.54× | — | ||
| Q3 25 | 0.99× | 2.73× | ||
| Q2 25 | 1.52× | 0.25× | ||
| Q1 25 | 11.62× | 1.08× | ||
| Q4 24 | 1.01× | 2.85× | ||
| Q3 24 | 0.79× | 2.41× | ||
| Q2 24 | 1.89× | 1.07× | ||
| Q1 24 | 7.28× | 1.41× |
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
ABNB
| North America | $1.1B | 41% |
| EMEA | $930.0M | 33% |
| Latin America | $351.0M | 13% |
| Other | $351.0M | 13% |
BIIB
| Products | $1.7B | 73% |
| Tysabri Product | $244.5M | 11% |
| AVONEX | $119.2M | 5% |
| SKYCLARYS | $88.9M | 4% |
| Alzheimers Collaboration | $47.1M | 2% |
| IMRALDI | $43.5M | 2% |
| TECFIDERA | $36.9M | 2% |
| PLEGRIDY | $24.7M | 1% |
| QALSODY | $7.8M | 0% |
| BYOOVIZ | $4.3M | 0% |
