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雅培（ABT）与硕腾（ZTS）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硕腾的4.8倍（$11.5B vs $2.4B）。硕腾净利率更高（25.3% vs 15.5%，领先9.8%）。雅培同比增速更快（4.4% vs 3.0%）。雅培自由现金流更多（$2.6B vs $732.0M）。过去两年雅培的营收复合增速更高（7.2% vs 4.4%）
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。
硕腾是全球规模最大的动物保健制药企业，专注于宠物与家畜用药品、疫苗的研发和生产，前身为制药巨头辉瑞旗下的动物保健业务板块，辉瑞剥离多数股权后成为完全独立的企业。目前公司产品直销约45个国家，在全球超过100个国家和地区销售，海外业务占总营收的50%左右。
ABT vs ZTS — 直观对比
营收规模更大
ABT
是对方的4.8倍
$2.4B
营收增速更快
ABT
高出1.4%
3.0%
净利率更高
ZTS
高出9.8%
15.5%
自由现金流更多
ABT
多$1.9B
$732.0M
两年增速更快
ABT
近两年复合增速
4.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $11.5B | $2.4B |
| 净利润 | $1.8B | $603.0M |
| 毛利率 | 57.0% | 70.2% |
| 营业利润率 | 19.6% | 31.9% |
| 净利率 | 15.5% | 25.3% |
| 营收同比 | 4.4% | 3.0% |
| 净利润同比 | -80.8% | 3.8% |
| 每股收益（稀释后） | $1.01 | $1.37 |
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ABTZTS
| Q4 25 | $11.5B | $2.4B | ||
| Q3 25 | $11.4B | $2.4B | ||
| Q2 25 | $11.1B | $2.5B | ||
| Q1 25 | $10.4B | $2.2B | ||
| Q4 24 | $11.0B | $2.3B | ||
| Q3 24 | $10.6B | $2.4B | ||
| Q2 24 | $10.4B | $2.4B | ||
| Q1 24 | $10.0B | $2.2B |
净利润ABTZTS
| Q4 25 | $1.8B | $603.0M | ||
| Q3 25 | $1.6B | $721.0M | ||
| Q2 25 | $1.8B | $718.0M | ||
| Q1 25 | $1.3B | $631.0M | ||
| Q4 24 | $9.2B | $581.0M | ||
| Q3 24 | $1.6B | $682.0M | ||
| Q2 24 | $1.3B | $624.0M | ||
| Q1 24 | $1.2B | $599.0M |
毛利率ABTZTS
| Q4 25 | 57.0% | 70.2% | ||
| Q3 25 | 55.4% | 71.5% | ||
| Q2 25 | 56.4% | 73.6% | ||
| Q1 25 | 56.9% | 72.0% | ||
| Q4 24 | 55.0% | 69.5% | ||
| Q3 24 | 55.8% | 70.6% | ||
| Q2 24 | 55.6% | 71.7% | ||
| Q1 24 | 55.2% | 70.6% |
营业利润率ABTZTS
| Q4 25 | 19.6% | 31.9% | ||
| Q3 25 | 18.1% | 37.0% | ||
| Q2 25 | 18.4% | 36.7% | ||
| Q1 25 | 16.3% | 36.5% | ||
| Q4 24 | 17.4% | 31.6% | ||
| Q3 24 | 17.5% | 36.6% | ||
| Q2 24 | 16.1% | 33.0% | ||
| Q1 24 | 13.9% | 34.1% |
净利率ABTZTS
| Q4 25 | 15.5% | 25.3% | ||
| Q3 25 | 14.5% | 30.0% | ||
| Q2 25 | 16.0% | 29.2% | ||
| Q1 25 | 12.8% | 28.4% | ||
| Q4 24 | 84.1% | 25.1% | ||
| Q3 24 | 15.5% | 28.6% | ||
| Q2 24 | 12.5% | 26.4% | ||
| Q1 24 | 12.3% | 27.4% |
每股收益（稀释后）ABTZTS
| Q4 25 | $1.01 | $1.37 | ||
| Q3 25 | $0.94 | $1.63 | ||
| Q2 25 | $1.01 | $1.61 | ||
| Q1 25 | $0.76 | $1.41 | ||
| Q4 24 | $5.26 | $1.29 | ||
| Q3 24 | $0.94 | $1.50 | ||
| Q2 24 | $0.74 | $1.37 | ||
| Q1 24 | $0.70 | $1.31 |
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 | $3.3B |
| 总资产 | $86.7B | $15.5B |
| 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ABTZTS
| Q4 25 | $8.9B | — | ||
| Q3 25 | $7.7B | $2.1B | ||
| Q2 25 | $7.3B | $1.4B | ||
| Q1 25 | $6.8B | $1.7B | ||
| Q4 24 | $8.0B | $2.0B | ||
| Q3 24 | $7.8B | $1.7B | ||
| Q2 24 | $7.2B | $1.6B | ||
| Q1 24 | $6.7B | $2.0B |
总债务ABTZTS
| Q4 25 | $12.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $14.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ABTZTS
| Q4 25 | $52.1B | $3.3B | ||
| Q3 25 | $51.0B | $5.4B | ||
| Q2 25 | $50.6B | $5.0B | ||
| Q1 25 | $48.8B | $4.7B | ||
| Q4 24 | $47.7B | $4.8B | ||
| Q3 24 | $39.8B | $5.2B | ||
| Q2 24 | $39.3B | $5.0B | ||
| Q1 24 | $38.8B | $5.1B |
总资产ABTZTS
| Q4 25 | $86.7B | $15.5B | ||
| Q3 25 | $84.2B | $15.2B | ||
| Q2 25 | $84.0B | $14.5B | ||
| Q1 25 | $81.4B | $14.1B | ||
| Q4 24 | $81.4B | $14.2B | ||
| Q3 24 | $74.4B | $14.4B | ||
| Q2 24 | $73.0B | $14.2B | ||
| Q1 24 | $72.5B | $14.3B |
负债/权益比ABTZTS
| 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 | $893.0M |
| 自由现金流经营现金流 - 资本支出 | $2.6B | $732.0M |
| 自由现金流率自由现金流/营收 | 22.9% | 30.7% |
| 资本支出强度资本支出/营收 | 6.0% | 6.7% |
| 现金转化率经营现金流/净利润 | 1.87× | 1.48× |
| 过去12个月自由现金流最近4个季度 | $7.4B | $2.3B |
8季度趋势，按日历期对齐
经营现金流ABTZTS
| Q4 25 | $3.3B | $893.0M | ||
| Q3 25 | $2.8B | $938.0M | ||
| Q2 25 | $2.0B | $486.0M | ||
| Q1 25 | $1.4B | $587.0M | ||
| Q4 24 | $2.9B | $905.0M | ||
| Q3 24 | $2.7B | $951.0M | ||
| Q2 24 | $2.0B | $502.0M | ||
| Q1 24 | $1.0B | $595.0M |
自由现金流ABTZTS
| Q4 25 | $2.6B | $732.0M | ||
| Q3 25 | $2.3B | $805.0M | ||
| Q2 25 | $1.5B | $308.0M | ||
| Q1 25 | $933.0M | $438.0M | ||
| Q4 24 | $2.1B | $689.0M | ||
| Q3 24 | $2.1B | $784.0M | ||
| Q2 24 | $1.4B | $370.0M | ||
| Q1 24 | $627.0M | $455.0M |
自由现金流率ABTZTS
| Q4 25 | 22.9% | 30.7% | ||
| Q3 25 | 20.2% | 33.5% | ||
| Q2 25 | 13.9% | 12.5% | ||
| Q1 25 | 9.0% | 19.7% | ||
| Q4 24 | 19.6% | 29.7% | ||
| Q3 24 | 20.2% | 32.8% | ||
| Q2 24 | 13.8% | 15.7% | ||
| Q1 24 | 6.3% | 20.8% |
资本支出强度ABTZTS
| Q4 25 | 6.0% | 6.7% | ||
| Q3 25 | 4.4% | 5.5% | ||
| Q2 25 | 4.5% | 7.2% | ||
| Q1 25 | 4.7% | 6.7% | ||
| Q4 24 | 6.6% | 9.3% | ||
| Q3 24 | 5.2% | 7.0% | ||
| Q2 24 | 5.1% | 5.6% | ||
| Q1 24 | 4.0% | 6.4% |
现金转化率ABTZTS
| Q4 25 | 1.87× | 1.48× | ||
| Q3 25 | 1.70× | 1.30× | ||
| Q2 25 | 1.15× | 0.68× | ||
| Q1 25 | 1.07× | 0.93× | ||
| Q4 24 | 0.31× | 1.56× | ||
| Q3 24 | 1.64× | 1.39× | ||
| Q2 24 | 1.51× | 0.80× | ||
| Q1 24 | 0.84× | 0.99× |
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
ZTS
| Other | $1.3B | 56% |
| Livestock | $234.0M | 10% |
| Pain Sedation | $209.0M | 9% |
| Other Pharmaceuticals | $188.0M | 8% |
| Swine | $125.0M | 5% |
| Poultry | $117.0M | 5% |
| Fish | $81.0M | 3% |
| Other Non Pharmaceuticals | $70.0M | 3% |
| Manufactured Product Other | $18.0M | 1% |
| Medicated Feed Additives | $12.0M | 1% |
