vs
欧特克（ADSK）与博士伦健康（BHC）财务数据对比。点击上方公司名可切换其他公司
博士伦健康的季度营收约是欧特克的1.4倍（$2.8B vs $2.0B），欧特克净利率更高（16.1% vs -3.7%，领先19.8%），欧特克同比增速更快（19.4% vs 9.3%），欧特克自由现金流更多（$972.0M vs $403.0M），过去两年欧特克的营收复合增速更高（17.5% vs 14.0%）
欧特克是美国跨国软件企业，总部位于加利福尼亚州旧金山，在全球各地设有办事处，美国境内亦于俄勒冈、科罗拉多、得克萨斯、密歇根等多州布局办公网点，为建筑、工程、施工、制造、传媒、教育、娱乐等多领域客户提供专业软件产品及配套服务。
博士伦健康公司（Bausch Health）是一家业务多元化的北美跨国制药企业，全球总部位于加拿大魁北克省拉瓦尔，美国总部设在新泽西州布里奇沃特。公司专注于胃肠病、肝病、神经科、皮肤科、牙科、医疗美容等领域的药物研发、生产及销售，同时提供品牌药和仿制药产品，业务覆盖全球市场。
ADSK vs BHC — 直观对比
营收规模更大
BHC
是对方的1.4倍
$2.0B
营收增速更快
ADSK
高出10.1%
9.3%
净利率更高
ADSK
高出19.8%
-3.7%
自由现金流更多
ADSK
多$569.0M
$403.0M
两年增速更快
ADSK
近两年复合增速
14.0%
损益表 — Q4 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $2.8B |
| 净利润 | $316.0M | $-103.0M |
| 毛利率 | 91.5% | — |
| 营业利润率 | 22.0% | 17.0% |
| 净利率 | 16.1% | -3.7% |
| 营收同比 | 19.4% | 9.3% |
| 净利润同比 | 4.3% | -205.1% |
| 每股收益（稀释后） | $1.47 | $-0.30 |
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ADSKBHC
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.9B | $2.8B | ||
| Q3 25 | $1.8B | $2.7B | ||
| Q2 25 | $1.6B | $2.5B | ||
| Q1 25 | $1.6B | $2.3B | ||
| Q4 24 | $1.6B | $2.6B | ||
| Q3 24 | $1.5B | $2.5B | ||
| Q2 24 | $1.4B | $2.4B |
净利润ADSKBHC
| Q1 26 | $316.0M | — | ||
| Q4 25 | $343.0M | $-103.0M | ||
| Q3 25 | $313.0M | $179.0M | ||
| Q2 25 | $152.0M | $148.0M | ||
| Q1 25 | $303.0M | $-58.0M | ||
| Q4 24 | $275.0M | $98.0M | ||
| Q3 24 | $282.0M | $-85.0M | ||
| Q2 24 | $252.0M | $10.0M |
毛利率ADSKBHC
| Q1 26 | 91.5% | — | ||
| Q4 25 | 91.1% | — | ||
| Q3 25 | 91.0% | — | ||
| Q2 25 | 90.2% | — | ||
| Q1 25 | 90.6% | — | ||
| Q4 24 | 90.6% | — | ||
| Q3 24 | 90.7% | — | ||
| Q2 24 | 90.3% | — |
营业利润率ADSKBHC
| Q1 26 | 22.0% | — | ||
| Q4 25 | 25.4% | 17.0% | ||
| Q3 25 | 25.2% | 23.1% | ||
| Q2 25 | 14.3% | 17.5% | ||
| Q1 25 | 22.3% | 12.2% | ||
| Q4 24 | 22.0% | 21.8% | ||
| Q3 24 | 22.8% | 12.7% | ||
| Q2 24 | 21.1% | 16.2% |
净利率ADSKBHC
| Q1 26 | 16.1% | — | ||
| Q4 25 | 18.5% | -3.7% | ||
| Q3 25 | 17.8% | 6.7% | ||
| Q2 25 | 9.3% | 5.8% | ||
| Q1 25 | 18.5% | -2.6% | ||
| Q4 24 | 17.5% | 3.8% | ||
| Q3 24 | 18.7% | -3.4% | ||
| Q2 24 | 17.8% | 0.4% |
每股收益（稀释后）ADSKBHC
| Q1 26 | $1.47 | — | ||
| Q4 25 | $1.60 | $-0.30 | ||
| Q3 25 | $1.46 | $0.48 | ||
| Q2 25 | $0.70 | $0.40 | ||
| Q1 25 | $1.39 | $-0.16 | ||
| Q4 24 | $1.27 | $0.24 | ||
| Q3 24 | $1.30 | $-0.23 | ||
| Q2 24 | $1.16 | $0.03 |
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 | $2.6B | $1.3B |
| 总债务越低越好 | $2.5B | $20.8B |
| 股东权益账面价值 | $3.0B | $-554.0M |
| 总资产 | $12.5B | $26.4B |
| 负债/权益比越低杠杆越低 | 0.82× | — |
8季度趋势，按日历期对齐
现金及短期投资ADSKBHC
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.3B | $1.3B | ||
| Q3 25 | $2.2B | $1.3B | ||
| Q2 25 | $2.0B | $1.7B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $1.7B | $1.2B | ||
| Q3 24 | $1.9B | $719.0M | ||
| Q2 24 | $2.0B | $595.0M |
总债务ADSKBHC
| Q1 26 | $2.5B | — | ||
| Q4 25 | $2.5B | $20.8B | ||
| Q3 25 | $2.5B | $21.0B | ||
| Q2 25 | $2.3B | $21.7B | ||
| Q1 25 | $2.3B | $21.5B | ||
| Q4 24 | $2.3B | $21.6B | ||
| Q3 24 | $2.3B | $21.5B | ||
| Q2 24 | $2.3B | $21.7B |
股东权益ADSKBHC
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.9B | $-554.0M | ||
| Q3 25 | $2.7B | $-565.0M | ||
| Q2 25 | $2.6B | $-764.0M | ||
| Q1 25 | $2.6B | $-1.2B | ||
| Q4 24 | $2.6B | $-1.3B | ||
| Q3 24 | $2.5B | $-1.2B | ||
| Q2 24 | $2.2B | $-1.2B |
总资产ADSKBHC
| Q1 26 | $12.5B | — | ||
| Q4 25 | $11.2B | $26.4B | ||
| Q3 25 | $10.9B | $26.8B | ||
| Q2 25 | $10.6B | $27.3B | ||
| Q1 25 | $10.8B | $26.4B | ||
| Q4 24 | $10.1B | $26.5B | ||
| Q3 24 | $10.0B | $26.5B | ||
| Q2 24 | $9.8B | $26.5B |
负债/权益比ADSKBHC
| Q1 26 | 0.82× | — | ||
| Q4 25 | 0.86× | — | ||
| Q3 25 | 0.92× | — | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.88× | — | ||
| Q4 24 | 0.88× | — | ||
| Q3 24 | 0.93× | — | ||
| Q2 24 | 1.06× | — |
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 | $989.0M | $495.0M |
| 自由现金流经营现金流 - 资本支出 | $972.0M | $403.0M |
| 自由现金流率自由现金流/营收 | 49.7% | 14.4% |
| 资本支出强度资本支出/营收 | 0.9% | 3.3% |
| 现金转化率经营现金流/净利润 | 3.13× | — |
| 过去12个月自由现金流最近4个季度 | $2.4B | $1.0B |
8季度趋势，按日历期对齐
经营现金流ADSKBHC
| Q1 26 | $989.0M | — | ||
| Q4 25 | $439.0M | $495.0M | ||
| Q3 25 | $460.0M | $405.0M | ||
| Q2 25 | $564.0M | $289.0M | ||
| Q1 25 | $692.0M | $211.0M | ||
| Q4 24 | $209.0M | $601.0M | ||
| Q3 24 | $212.0M | $405.0M | ||
| Q2 24 | $494.0M | $380.0M |
自由现金流ADSKBHC
| Q1 26 | $972.0M | — | ||
| Q4 25 | $430.0M | $403.0M | ||
| Q3 25 | $451.0M | $314.0M | ||
| Q2 25 | $556.0M | $190.0M | ||
| Q1 25 | $678.0M | $96.0M | ||
| Q4 24 | $199.0M | $495.0M | ||
| Q3 24 | $203.0M | $334.0M | ||
| Q2 24 | $487.0M | $302.0M |
自由现金流率ADSKBHC
| Q1 26 | 49.7% | — | ||
| Q4 25 | 23.2% | 14.4% | ||
| Q3 25 | 25.6% | 11.7% | ||
| Q2 25 | 34.0% | 7.5% | ||
| Q1 25 | 41.4% | 4.2% | ||
| Q4 24 | 12.7% | 19.3% | ||
| Q3 24 | 13.5% | 13.3% | ||
| Q2 24 | 34.4% | 12.6% |
资本支出强度ADSKBHC
| Q1 26 | 0.9% | — | ||
| Q4 25 | 0.5% | 3.3% | ||
| Q3 25 | 0.5% | 3.4% | ||
| Q2 25 | 0.5% | 3.9% | ||
| Q1 25 | 0.9% | 5.1% | ||
| Q4 24 | 0.6% | 4.1% | ||
| Q3 24 | 0.6% | 2.8% | ||
| Q2 24 | 0.5% | 3.2% |
现金转化率ADSKBHC
| Q1 26 | 3.13× | — | ||
| Q4 25 | 1.28× | — | ||
| Q3 25 | 1.47× | 2.26× | ||
| Q2 25 | 3.71× | 1.95× | ||
| Q1 25 | 2.28× | — | ||
| Q4 24 | 0.76× | 6.13× | ||
| Q3 24 | 0.75× | — | ||
| Q2 24 | 1.96× | 38.00× |
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
ADSK
| Sales Channel Through Intermediary | $602.0M | 31% |
| Auto CA Dand Auto CADLT Family | $478.0M | 24% |
| Manufacturing | $381.0M | 19% |
| Make | $218.0M | 11% |
| Other | $130.0M | 7% |
| Other Research And Development | $129.0M | 7% |
| Maintenance | $8.0M | 0% |
BHC
| Bausch Lomb | $1.4B | 50% |
| Salix Segment | $693.0M | 25% |
| International Rx | $306.0M | 11% |
| Diversified Segment | $255.0M | 9% |
| Solta Medical Segment | $137.0M | 5% |
