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雅培（ABT）与摩根士丹利（MS）财务数据对比。点击上方公司名可切换其他公司
摩根士丹利的季度营收约是雅培的1.6倍（$17.9B vs $11.5B），摩根士丹利净利率更高（24.6% vs 15.5%，领先9.1%）
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。
摩根士丹利是总部位于美国纽约曼哈顿中城百老汇1585号的跨国投资银行及金融服务提供商，在全球42个国家设有办事处，员工超8万名，服务客户涵盖企业、政府、机构及个人。2023年该公司位列美国财富500强第61位，同年位居福布斯全球2000强第30位。
ABT vs MS — 直观对比
营收规模更大
MS
是对方的1.6倍
$11.5B
净利率更高
MS
高出9.1%
15.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $11.5B | $17.9B |
| 净利润 | $1.8B | $4.4B |
| 毛利率 | 57.0% | — |
| 营业利润率 | 19.6% | 32.2% |
| 净利率 | 15.5% | 24.6% |
| 营收同比 | 4.4% | — |
| 净利润同比 | -80.8% | — |
| 每股收益（稀释后） | $1.01 | $2.68 |
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ABTMS
| Q4 25 | $11.5B | $17.9B | ||
| Q3 25 | $11.4B | $18.2B | ||
| Q2 25 | $11.1B | $16.8B | ||
| Q1 25 | $10.4B | $17.7B | ||
| Q4 24 | $11.0B | — | ||
| Q3 24 | $10.6B | $15.4B | ||
| Q2 24 | $10.4B | $15.0B | ||
| Q1 24 | $10.0B | $15.1B |
净利润ABTMS
| Q4 25 | $1.8B | $4.4B | ||
| Q3 25 | $1.6B | $4.6B | ||
| Q2 25 | $1.8B | $3.5B | ||
| Q1 25 | $1.3B | $4.3B | ||
| Q4 24 | $9.2B | — | ||
| Q3 24 | $1.6B | $3.2B | ||
| Q2 24 | $1.3B | $3.1B | ||
| Q1 24 | $1.2B | $3.4B |
毛利率ABTMS
| 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ABTMS
| Q4 25 | 19.6% | 32.2% | ||
| Q3 25 | 18.1% | 33.1% | ||
| Q2 25 | 18.4% | 27.5% | ||
| Q1 25 | 16.3% | 31.3% | ||
| Q4 24 | 17.4% | — | ||
| Q3 24 | 17.5% | 27.4% | ||
| Q2 24 | 16.1% | 27.1% | ||
| Q1 24 | 13.9% | 29.0% |
净利率ABTMS
| Q4 25 | 15.5% | 24.6% | ||
| Q3 25 | 14.5% | 25.3% | ||
| Q2 25 | 16.0% | 21.1% | ||
| Q1 25 | 12.8% | 24.3% | ||
| Q4 24 | 84.1% | — | ||
| Q3 24 | 15.5% | 20.7% | ||
| Q2 24 | 12.5% | 20.5% | ||
| Q1 24 | 12.3% | 22.5% |
每股收益（稀释后）ABTMS
| Q4 25 | $1.01 | $2.68 | ||
| Q3 25 | $0.94 | $2.80 | ||
| Q2 25 | $1.01 | $2.13 | ||
| Q1 25 | $0.76 | $2.60 | ||
| Q4 24 | $5.26 | — | ||
| Q3 24 | $0.94 | $1.88 | ||
| Q2 24 | $0.74 | $1.82 | ||
| Q1 24 | $0.70 | $2.02 |
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 | $111.7B |
| 总债务越低越好 | $12.9B | $341.7B |
| 股东权益账面价值 | $52.1B | $111.6B |
| 总资产 | $86.7B | $1420.3B |
| 负债/权益比越低杠杆越低 | 0.25× | 3.06× |
8季度趋势，按日历期对齐
现金及短期投资ABTMS
| Q4 25 | $8.9B | $111.7B | ||
| Q3 25 | $7.7B | $103.7B | ||
| Q2 25 | $7.3B | $109.1B | ||
| Q1 25 | $6.8B | $90.7B | ||
| Q4 24 | $8.0B | — | ||
| Q3 24 | $7.8B | $91.1B | ||
| Q2 24 | $7.2B | $90.2B | ||
| Q1 24 | $6.7B | $102.3B |
总债务ABTMS
| Q4 25 | $12.9B | $341.7B | ||
| Q3 25 | — | $324.1B | ||
| Q2 25 | — | $320.1B | ||
| Q1 25 | — | $297.0B | ||
| Q4 24 | $14.1B | — | ||
| Q3 24 | — | $291.2B | ||
| Q2 24 | — | $269.9B | ||
| Q1 24 | — | $266.1B |
股东权益ABTMS
| Q4 25 | $52.1B | $111.6B | ||
| Q3 25 | $51.0B | $110.0B | ||
| Q2 25 | $50.6B | $108.2B | ||
| Q1 25 | $48.8B | $106.8B | ||
| Q4 24 | $47.7B | — | ||
| Q3 24 | $39.8B | $103.6B | ||
| Q2 24 | $39.3B | $100.7B | ||
| Q1 24 | $38.8B | $99.2B |
总资产ABTMS
| Q4 25 | $86.7B | $1420.3B | ||
| Q3 25 | $84.2B | $1364.8B | ||
| Q2 25 | $84.0B | $1353.9B | ||
| Q1 25 | $81.4B | $1300.3B | ||
| Q4 24 | $81.4B | — | ||
| Q3 24 | $74.4B | $1258.0B | ||
| Q2 24 | $73.0B | $1212.4B | ||
| Q1 24 | $72.5B | $1228.5B |
负债/权益比ABTMS
| Q4 25 | 0.25× | 3.06× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 2.96× | ||
| Q1 25 | — | 2.78× | ||
| Q4 24 | 0.30× | — | ||
| Q3 24 | — | 2.81× | ||
| Q2 24 | — | 2.68× | ||
| Q1 24 | — | 2.68× |
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 | $-2.4B |
| 自由现金流经营现金流 - 资本支出 | $2.6B | — |
| 自由现金流率自由现金流/营收 | 22.9% | — |
| 资本支出强度资本支出/营收 | 6.0% | — |
| 现金转化率经营现金流/净利润 | 1.87× | -0.55× |
| 过去12个月自由现金流最近4个季度 | $7.4B | — |
8季度趋势，按日历期对齐
经营现金流ABTMS
| Q4 25 | $3.3B | $-2.4B | ||
| Q3 25 | $2.8B | $-3.3B | ||
| Q2 25 | $2.0B | $11.8B | ||
| Q1 25 | $1.4B | $-24.0B | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $1.0B | $4.4B |
自由现金流ABTMS
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $933.0M | — | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $627.0M | — |
自由现金流率ABTMS
| Q4 25 | 22.9% | — | ||
| Q3 25 | 20.2% | — | ||
| Q2 25 | 13.9% | — | ||
| Q1 25 | 9.0% | — | ||
| Q4 24 | 19.6% | — | ||
| Q3 24 | 20.2% | — | ||
| Q2 24 | 13.8% | — | ||
| Q1 24 | 6.3% | — |
资本支出强度ABTMS
| Q4 25 | 6.0% | — | ||
| Q3 25 | 4.4% | — | ||
| Q2 25 | 4.5% | — | ||
| Q1 25 | 4.7% | — | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 5.2% | — | ||
| Q2 24 | 5.1% | — | ||
| Q1 24 | 4.0% | — |
现金转化率ABTMS
| Q4 25 | 1.87× | -0.55× | ||
| Q3 25 | 1.70× | -0.72× | ||
| Q2 25 | 1.15× | 3.34× | ||
| Q1 25 | 1.07× | -5.56× | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 1.64× | — | ||
| Q2 24 | 1.51× | — | ||
| Q1 24 | 0.84× | 1.28× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
