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雅培（ABT）与博士伦（BLCO）财务数据对比。点击上方公司名可切换其他公司
雅培的季度营收约是博士伦的8.2倍（$11.5B vs $1.4B）。雅培净利率更高（15.5% vs -4.1%，领先19.6%）。博士伦同比增速更快（9.8% vs 4.4%）。雅培自由现金流更多（$2.6B vs $60.0M）。过去两年博士伦的营收复合增速更高（13.1% vs 7.2%）
雅培是总部位于美国伊利诺伊州雅培园的跨国医疗健康企业，业务覆盖美国境外市场药品销售、诊断产品、营养产品及医疗器械等板块，在全球医疗健康领域拥有较高的行业知名度与广泛的市场覆盖。
博士伦是知名眼健康产品企业，总部位于加拿大安大略省沃恩市，是全球规模最大的隐形眼镜、镜片护理产品、眼科药品、人工晶体及其他眼科手术产品供应商之一。品牌1853年由验光师约翰·鲍什与合伙人亨利·朗姆在美国纽约罗切斯特创立，曾是美国历史最悠久的持续运营企业之一，2013年被整体收购。
ABT vs BLCO — 直观对比
营收规模更大
ABT
是对方的8.2倍
$1.4B
营收增速更快
BLCO
高出5.3%
4.4%
净利率更高
ABT
高出19.6%
-4.1%
自由现金流更多
ABT
多$2.6B
$60.0M
两年增速更快
BLCO
近两年复合增速
7.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $11.5B | $1.4B |
| 净利润 | $1.8B | $-58.0M |
| 毛利率 | 57.0% | — |
| 营业利润率 | 19.6% | 8.0% |
| 净利率 | 15.5% | -4.1% |
| 营收同比 | 4.4% | 9.8% |
| 净利润同比 | -80.8% | -1833.3% |
| 每股收益（稀释后） | $1.01 | $-0.16 |
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ABTBLCO
| Q4 25 | $11.5B | $1.4B | ||
| Q3 25 | $11.4B | $1.3B | ||
| Q2 25 | $11.1B | $1.3B | ||
| Q1 25 | $10.4B | $1.1B | ||
| Q4 24 | $11.0B | $1.3B | ||
| Q3 24 | $10.6B | $1.2B | ||
| Q2 24 | $10.4B | $1.2B | ||
| Q1 24 | $10.0B | $1.1B |
净利润ABTBLCO
| Q4 25 | $1.8B | $-58.0M | ||
| Q3 25 | $1.6B | $-28.0M | ||
| Q2 25 | $1.8B | $-62.0M | ||
| Q1 25 | $1.3B | $-212.0M | ||
| Q4 24 | $9.2B | $-3.0M | ||
| Q3 24 | $1.6B | $4.0M | ||
| Q2 24 | $1.3B | $-151.0M | ||
| Q1 24 | $1.2B | $-167.0M |
毛利率ABTBLCO
| Q4 25 | 57.0% | — | ||
| Q3 25 | 55.4% | — | ||
| Q2 25 | 56.4% | — | ||
| Q1 25 | 56.9% | — | ||
| Q4 24 | 55.0% | — | ||
| Q3 24 | 55.8% | — | ||
| Q2 24 | 55.6% | — | ||
| Q1 24 | 55.2% | — |
营业利润率ABTBLCO
| Q4 25 | 19.6% | 8.0% | ||
| Q3 25 | 18.1% | 7.4% | ||
| Q2 25 | 18.4% | -0.9% | ||
| Q1 25 | 16.3% | -7.3% | ||
| Q4 24 | 17.4% | 6.8% | ||
| Q3 24 | 17.5% | 3.6% | ||
| Q2 24 | 16.1% | 2.1% | ||
| Q1 24 | 13.9% | 0.5% |
净利率ABTBLCO
| Q4 25 | 15.5% | -4.1% | ||
| Q3 25 | 14.5% | -2.2% | ||
| Q2 25 | 16.0% | -4.9% | ||
| Q1 25 | 12.8% | -18.6% | ||
| Q4 24 | 84.1% | -0.2% | ||
| Q3 24 | 15.5% | 0.3% | ||
| Q2 24 | 12.5% | -12.4% | ||
| Q1 24 | 12.3% | -15.2% |
每股收益（稀释后）ABTBLCO
| Q4 25 | $1.01 | $-0.16 | ||
| Q3 25 | $0.94 | $-0.08 | ||
| Q2 25 | $1.01 | $-0.18 | ||
| Q1 25 | $0.76 | $-0.60 | ||
| Q4 24 | $5.26 | $-0.00 | ||
| Q3 24 | $0.94 | $0.01 | ||
| Q2 24 | $0.74 | $-0.43 | ||
| Q1 24 | $0.70 | $-0.48 |
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 | $8.9B | $383.0M |
| 总债务越低越好 | $12.9B | $5.0B |
| 股东权益账面价值 | $52.1B | $6.4B |
| 总资产 | $86.7B | $14.0B |
| 负债/权益比越低杠杆越低 | 0.25× | 0.78× |
8季度趋势，按日历期对齐
现金及短期投资ABTBLCO
| Q4 25 | $8.9B | $383.0M | ||
| Q3 25 | $7.7B | $310.0M | ||
| Q2 25 | $7.3B | $266.0M | ||
| Q1 25 | $6.8B | $202.0M | ||
| Q4 24 | $8.0B | $305.0M | ||
| Q3 24 | $7.8B | $329.0M | ||
| Q2 24 | $7.2B | $285.0M | ||
| Q1 24 | $6.7B | $315.0M |
总债务ABTBLCO
| Q4 25 | $12.9B | $5.0B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $5.0B | ||
| Q1 25 | — | $4.8B | ||
| Q4 24 | $14.1B | $4.8B | ||
| Q3 24 | — | $4.6B | ||
| Q2 24 | — | $4.6B | ||
| Q1 24 | — | $4.6B |
股东权益ABTBLCO
| Q4 25 | $52.1B | $6.4B | ||
| Q3 25 | $51.0B | $6.4B | ||
| Q2 25 | $50.6B | $6.4B | ||
| Q1 25 | $48.8B | $6.4B | ||
| Q4 24 | $47.7B | $6.5B | ||
| Q3 24 | $39.8B | $6.6B | ||
| Q2 24 | $39.3B | $6.5B | ||
| Q1 24 | $38.8B | $6.7B |
总资产ABTBLCO
| Q4 25 | $86.7B | $14.0B | ||
| Q3 25 | $84.2B | $13.8B | ||
| Q2 25 | $84.0B | $13.8B | ||
| Q1 25 | $81.4B | $13.4B | ||
| Q4 24 | $81.4B | $13.5B | ||
| Q3 24 | $74.4B | $13.5B | ||
| Q2 24 | $73.0B | $13.3B | ||
| Q1 24 | $72.5B | $13.3B |
负债/权益比ABTBLCO
| Q4 25 | 0.25× | 0.78× | ||
| Q3 25 | — | 0.77× | ||
| Q2 25 | — | 0.77× | ||
| Q1 25 | — | 0.76× | ||
| Q4 24 | 0.30× | 0.74× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.71× | ||
| Q1 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 | $3.3B | $136.0M |
| 自由现金流经营现金流 - 资本支出 | $2.6B | $60.0M |
| 自由现金流率自由现金流/营收 | 22.9% | 4.3% |
| 资本支出强度资本支出/营收 | 6.0% | 5.4% |
| 现金转化率经营现金流/净利润 | 1.87× | — |
| 过去12个月自由现金流最近4个季度 | $7.4B | $-66.0M |
8季度趋势，按日历期对齐
经营现金流ABTBLCO
| Q4 25 | $3.3B | $136.0M | ||
| Q3 25 | $2.8B | $137.0M | ||
| Q2 25 | $2.0B | $35.0M | ||
| Q1 25 | $1.4B | $-25.0M | ||
| Q4 24 | $2.9B | $22.0M | ||
| Q3 24 | $2.7B | $154.0M | ||
| Q2 24 | $2.0B | $15.0M | ||
| Q1 24 | $1.0B | $41.0M |
自由现金流ABTBLCO
| Q4 25 | $2.6B | $60.0M | ||
| Q3 25 | $2.3B | $63.0M | ||
| Q2 25 | $1.5B | $-54.0M | ||
| Q1 25 | $933.0M | $-135.0M | ||
| Q4 24 | $2.1B | $-70.0M | ||
| Q3 24 | $2.1B | $94.0M | ||
| Q2 24 | $1.4B | $-57.0M | ||
| Q1 24 | $627.0M | $-26.0M |
自由现金流率ABTBLCO
| Q4 25 | 22.9% | 4.3% | ||
| Q3 25 | 20.2% | 4.9% | ||
| Q2 25 | 13.9% | -4.2% | ||
| Q1 25 | 9.0% | -11.9% | ||
| Q4 24 | 19.6% | -5.5% | ||
| Q3 24 | 20.2% | 7.9% | ||
| Q2 24 | 13.8% | -4.7% | ||
| Q1 24 | 6.3% | -2.4% |
资本支出强度ABTBLCO
| Q4 25 | 6.0% | 5.4% | ||
| Q3 25 | 4.4% | 5.8% | ||
| Q2 25 | 4.5% | 7.0% | ||
| Q1 25 | 4.7% | 9.7% | ||
| Q4 24 | 6.6% | 7.2% | ||
| Q3 24 | 5.2% | 5.0% | ||
| Q2 24 | 5.1% | 5.9% | ||
| Q1 24 | 4.0% | 6.1% |
现金转化率ABTBLCO
| Q4 25 | 1.87× | — | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 1.64× | 38.50× | ||
| Q2 24 | 1.51× | — | ||
| Q1 24 | 0.84× | — |
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
ABT
暂无分部数据
BLCO
| Overthe Counter Products | $489.0M | 35% |
| Pharmaceuticals | $378.0M | 27% |
| Other | $263.0M | 19% |
| Surgical | $249.0M | 18% |
| Brandedand Other Generic Products | $14.0M | 1% |
| Other Revenues | $3.0M | 0% |
| Pharmaceutical Products | $2.0M | 0% |
