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雅培（ABT）与美国合众银行（USB）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美国合众银行的1.6倍（$11.5B vs $7.4B），美国合众银行净利率更高（27.8% vs 15.5%，领先12.3%），美国合众银行同比增速更快（5.1% vs 4.4%），过去两年雅培的营收复合增速更高（7.2% vs 4.7%）
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。
美国合众银行是美国跨国银行机构，总部位于明尼苏达州明尼阿波利斯，在特拉华州注册成立。截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为系统重要性机构，旗下核心运营主体提供银行、投资、按揭等多元金融服务。
ABT vs USB — 直观对比
营收规模更大
ABT
是对方的1.6倍
$7.4B
营收增速更快
USB
高出0.7%
4.4%
净利率更高
USB
高出12.3%
15.5%
两年增速更快
ABT
近两年复合增速
4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $11.5B | $7.4B |
| 净利润 | $1.8B | $2.0B |
| 毛利率 | 57.0% | — |
| 营业利润率 | 19.6% | 34.4% |
| 净利率 | 15.5% | 27.8% |
| 营收同比 | 4.4% | 5.1% |
| 净利润同比 | -80.8% | 23.0% |
| 每股收益（稀释后） | $1.01 | $1.26 |
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ABTUSB
| Q4 25 | $11.5B | $7.4B | ||
| Q3 25 | $11.4B | $7.3B | ||
| Q2 25 | $11.1B | $7.0B | ||
| Q1 25 | $10.4B | $7.0B | ||
| Q4 24 | $11.0B | $7.0B | ||
| Q3 24 | $10.6B | $6.9B | ||
| Q2 24 | $10.4B | $6.9B | ||
| Q1 24 | $10.0B | $6.7B |
净利润ABTUSB
| Q4 25 | $1.8B | $2.0B | ||
| Q3 25 | $1.6B | $2.0B | ||
| Q2 25 | $1.8B | $1.8B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | $9.2B | $1.7B | ||
| Q3 24 | $1.6B | $1.7B | ||
| Q2 24 | $1.3B | $1.6B | ||
| Q1 24 | $1.2B | $1.3B |
毛利率ABTUSB
| 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ABTUSB
| Q4 25 | 19.6% | 34.4% | ||
| Q3 25 | 18.1% | 34.5% | ||
| Q2 25 | 18.4% | 32.7% | ||
| Q1 25 | 16.3% | 31.0% | ||
| Q4 24 | 17.4% | 30.1% | ||
| Q3 24 | 17.5% | 30.2% | ||
| Q2 24 | 16.1% | 29.9% | ||
| Q1 24 | 13.9% | 24.9% |
净利率ABTUSB
| Q4 25 | 15.5% | 27.8% | ||
| Q3 25 | 14.5% | 27.3% | ||
| Q2 25 | 16.0% | 25.9% | ||
| Q1 25 | 12.8% | 24.6% | ||
| Q4 24 | 84.1% | 23.7% | ||
| Q3 24 | 15.5% | 25.0% | ||
| Q2 24 | 12.5% | 23.3% | ||
| Q1 24 | 12.3% | 19.6% |
每股收益（稀释后）ABTUSB
| Q4 25 | $1.01 | $1.26 | ||
| Q3 25 | $0.94 | $1.22 | ||
| Q2 25 | $1.01 | $1.11 | ||
| Q1 25 | $0.76 | $1.03 | ||
| Q4 24 | $5.26 | $1.01 | ||
| Q3 24 | $0.94 | $1.03 | ||
| Q2 24 | $0.74 | $0.97 | ||
| Q1 24 | $0.70 | $0.78 |
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 | — |
| 总债务越低越好 | $12.9B | — |
| 股东权益账面价值 | $52.1B | $65.2B |
| 总资产 | $86.7B | $692.3B |
| 负债/权益比越低杠杆越低 | 0.25× | — |
8季度趋势，按日历期对齐
现金及短期投资ABTUSB
| Q4 25 | $8.9B | — | ||
| Q3 25 | $7.7B | — | ||
| Q2 25 | $7.3B | — | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | $8.0B | — | ||
| Q3 24 | $7.8B | — | ||
| Q2 24 | $7.2B | — | ||
| Q1 24 | $6.7B | — |
总债务ABTUSB
| Q4 25 | $12.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $14.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ABTUSB
| Q4 25 | $52.1B | $65.2B | ||
| Q3 25 | $51.0B | $63.3B | ||
| Q2 25 | $50.6B | $61.4B | ||
| Q1 25 | $48.8B | $60.1B | ||
| Q4 24 | $47.7B | $58.6B | ||
| Q3 24 | $39.8B | $58.9B | ||
| Q2 24 | $39.3B | $56.4B | ||
| Q1 24 | $38.8B | $55.6B |
总资产ABTUSB
| Q4 25 | $86.7B | $692.3B | ||
| Q3 25 | $84.2B | $695.4B | ||
| Q2 25 | $84.0B | $686.4B | ||
| Q1 25 | $81.4B | $676.5B | ||
| Q4 24 | $81.4B | $678.3B | ||
| Q3 24 | $74.4B | $686.5B | ||
| Q2 24 | $73.0B | $680.1B | ||
| Q1 24 | $72.5B | $683.6B |
负债/权益比ABTUSB
| Q4 25 | 0.25× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.30× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $2.8B |
| 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× | 1.39× |
| 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ABTUSB
| Q4 25 | $3.3B | $2.8B | ||
| Q3 25 | $2.8B | $3.4B | ||
| Q2 25 | $2.0B | $2.0B | ||
| Q1 25 | $1.4B | $-285.0M | ||
| Q4 24 | $2.9B | $4.8B | ||
| Q3 24 | $2.7B | $972.0M | ||
| Q2 24 | $2.0B | $2.9B | ||
| Q1 24 | $1.0B | $2.7B |
自由现金流ABTUSB
| 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ABTUSB
| 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ABTUSB
| 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ABTUSB
| Q4 25 | 1.87× | 1.39× | ||
| Q3 25 | 1.70× | 1.69× | ||
| Q2 25 | 1.15× | 1.12× | ||
| Q1 25 | 1.07× | -0.17× | ||
| Q4 24 | 0.31× | 2.87× | ||
| Q3 24 | 1.64× | 0.57× | ||
| Q2 24 | 1.51× | 1.79× | ||
| Q1 24 | 0.84× | 2.02× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
