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Alkermes plc.（ALKS）与UNITED THERAPEUTICS Corp（UTHR）财务数据对比。点击上方公司名可切换其他公司
UNITED THERAPEUTICS Corp的季度营收约是Alkermes plc.的2.1倍（$790.2M vs $384.5M），UNITED THERAPEUTICS Corp净利率更高（46.1% vs 12.8%，领先33.3%），UNITED THERAPEUTICS Corp同比增速更快（7.4% vs -10.6%），UNITED THERAPEUTICS Corp自由现金流更多（$173.3M vs $170.0M），过去两年UNITED THERAPEUTICS Corp的营收复合增速更高（8.0% vs 4.8%）
Alkermes plc是一家全产业链布局的生物制药企业，专注于精神障碍与神经系统疾病相关药物的研发。公司1987年由迈克尔·沃尔创立，2011年9月与原Élan集团旗下的药物制剂及生产部门Elan Drug Technologies合并，总部位于都柏林，在马萨诸塞州沃尔瑟姆设有研发中心，俄亥俄州威尔明顿建有生产基地。
United Therapeutics是美国生物技术企业，专注开发包含异种移植在内的器官移植相关药物与技术，多款产品布局肺部疾病及器官制造赛道，双总部位于马里兰州银泉与北卡罗来纳州三角研究园，在美加多地设有研发及运营分支机构。
ALKS vs UTHR — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $384.5M | $790.2M |
| 净利润 | $49.3M | $364.3M |
| 毛利率 | 88.0% | 86.9% |
| 营业利润率 | 15.1% | 45.1% |
| 净利率 | 12.8% | 46.1% |
| 营收同比 | -10.6% | 7.4% |
| 净利润同比 | -66.3% | 20.9% |
| 每股收益（稀释后） | $0.29 | $7.66 |
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
| Q4 25 | $384.5M | $790.2M | ||
| Q3 25 | $394.2M | $799.5M | ||
| Q2 25 | $390.7M | $798.6M | ||
| Q1 25 | $306.5M | $794.4M | ||
| Q4 24 | $430.0M | $735.9M | ||
| Q3 24 | $378.1M | $748.9M | ||
| Q2 24 | $399.1M | $714.9M | ||
| Q1 24 | $350.4M | $677.7M |
| Q4 25 | $49.3M | $364.3M | ||
| Q3 25 | $82.8M | $338.7M | ||
| Q2 25 | $87.1M | $309.5M | ||
| Q1 25 | $22.5M | $322.2M | ||
| Q4 24 | $146.5M | $301.3M | ||
| Q3 24 | $92.4M | $309.1M | ||
| Q2 24 | $91.4M | $278.1M | ||
| Q1 24 | $36.8M | $306.6M |
| Q4 25 | 88.0% | 86.9% | ||
| Q3 25 | 86.9% | 87.4% | ||
| Q2 25 | 87.3% | 89.0% | ||
| Q1 25 | 83.9% | 88.4% | ||
| Q4 24 | 85.6% | 89.7% | ||
| Q3 24 | 83.3% | 88.9% | ||
| Q2 24 | 84.6% | 89.1% | ||
| Q1 24 | 83.3% | 89.2% |
| Q4 25 | 15.1% | 45.1% | ||
| Q3 25 | 22.6% | 48.6% | ||
| Q2 25 | 23.8% | 45.6% | ||
| Q1 25 | 4.5% | 48.2% | ||
| Q4 24 | 37.8% | 48.6% | ||
| Q3 24 | 27.7% | 45.8% | ||
| Q2 24 | 27.5% | 44.7% | ||
| Q1 24 | 12.4% | 52.6% |
| Q4 25 | 12.8% | 46.1% | ||
| Q3 25 | 21.0% | 42.4% | ||
| Q2 25 | 22.3% | 38.8% | ||
| Q1 25 | 7.3% | 40.6% | ||
| Q4 24 | 34.1% | 40.9% | ||
| Q3 24 | 24.4% | 41.3% | ||
| Q2 24 | 22.9% | 38.9% | ||
| Q1 24 | 10.5% | 45.2% |
| Q4 25 | $0.29 | $7.66 | ||
| Q3 25 | $0.49 | $7.16 | ||
| Q2 25 | $0.52 | $6.41 | ||
| Q1 25 | $0.13 | $6.63 | ||
| Q4 24 | $0.88 | $6.23 | ||
| Q3 24 | $0.55 | $6.39 | ||
| Q2 24 | $0.53 | $5.85 | ||
| Q1 24 | $0.21 | $6.17 |
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 | $388.6M | $2.9B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.8B | $7.1B |
| 总资产 | $2.5B | $7.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $388.6M | $2.9B | ||
| Q3 25 | $616.4M | $2.8B | ||
| Q2 25 | $521.2M | $3.0B | ||
| Q1 25 | $399.8M | $3.3B | ||
| Q4 24 | $291.1M | $3.3B | ||
| Q3 24 | $396.3M | $3.3B | ||
| Q2 24 | $535.1M | $3.0B | ||
| Q1 24 | $420.8M | $2.7B |
| Q4 25 | $1.8B | $7.1B | ||
| Q3 25 | $1.7B | $6.6B | ||
| Q2 25 | $1.6B | $7.2B | ||
| Q1 25 | $1.5B | $6.8B | ||
| Q4 24 | $1.5B | $6.4B | ||
| Q3 24 | $1.3B | $6.1B | ||
| Q2 24 | $1.3B | $5.7B | ||
| Q1 24 | $1.3B | $5.3B |
| Q4 25 | $2.5B | $7.9B | ||
| Q3 25 | $2.3B | $7.4B | ||
| Q2 25 | $2.3B | $7.9B | ||
| Q1 25 | $2.1B | $7.7B | ||
| Q4 24 | $2.1B | $7.4B | ||
| Q3 24 | $2.2B | $7.1B | ||
| Q2 24 | $2.2B | $6.7B | ||
| Q1 24 | $2.1B | $6.5B |
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 | $170.1M | $346.2M |
| 自由现金流经营现金流 - 资本支出 | $170.0M | $173.3M |
| 自由现金流率自由现金流/营收 | 44.2% | 21.9% |
| 资本支出强度资本支出/营收 | 0.0% | 21.9% |
| 现金转化率经营现金流/净利润 | 3.45× | 0.95× |
| 过去12个月自由现金流最近4个季度 | $480.3M | $1.0B |
8季度趋势，按日历期对齐
| Q4 25 | $170.1M | $346.2M | ||
| Q3 25 | $101.7M | $562.1M | ||
| Q2 25 | $150.2M | $191.7M | ||
| Q1 25 | $98.8M | $461.2M | ||
| Q4 24 | $190.4M | $341.2M | ||
| Q3 24 | $81.6M | $377.2M | ||
| Q2 24 | $146.0M | $232.2M | ||
| Q1 24 | $21.1M | $376.5M |
| Q4 25 | $170.0M | $173.3M | ||
| Q3 25 | $84.4M | $351.6M | ||
| Q2 25 | $137.2M | $129.5M | ||
| Q1 25 | $88.7M | $386.3M | ||
| Q4 24 | $180.6M | $254.5M | ||
| Q3 24 | $73.3M | $300.7M | ||
| Q2 24 | $138.9M | $187.1M | ||
| Q1 24 | $12.8M | $338.3M |
| Q4 25 | 44.2% | 21.9% | ||
| Q3 25 | 21.4% | 44.0% | ||
| Q2 25 | 35.1% | 16.2% | ||
| Q1 25 | 28.9% | 48.6% | ||
| Q4 24 | 42.0% | 34.6% | ||
| Q3 24 | 19.4% | 40.2% | ||
| Q2 24 | 34.8% | 26.2% | ||
| Q1 24 | 3.6% | 49.9% |
| Q4 25 | 0.0% | 21.9% | ||
| Q3 25 | 4.4% | 26.3% | ||
| Q2 25 | 3.3% | 7.8% | ||
| Q1 25 | 3.3% | 9.4% | ||
| Q4 24 | 2.3% | 11.8% | ||
| Q3 24 | 2.2% | 10.2% | ||
| Q2 24 | 1.8% | 6.3% | ||
| Q1 24 | 2.4% | 5.6% |
| Q4 25 | 3.45× | 0.95× | ||
| Q3 25 | 1.23× | 1.66× | ||
| Q2 25 | 1.72× | 0.62× | ||
| Q1 25 | 4.40× | 1.43× | ||
| Q4 24 | 1.30× | 1.13× | ||
| Q3 24 | 0.88× | 1.22× | ||
| Q2 24 | 1.60× | 0.83× | ||
| Q1 24 | 0.57× | 1.23× |
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
ALKS
| Vivitrol | $124.1M | 32% |
| Aristada And Aristada Initio | $97.2M | 25% |
| LYBALVI | $94.1M | 24% |
| Royalty | $65.7M | 17% |
| Manufacturing Revenue | $3.3M | 1% |
UTHR
| Tyvaso DPI | $338.6M | 43% |
| Remodulin | $128.0M | 16% |
| Nebulized Tyvaso | $125.7M | 16% |
| Orenitram | $121.2M | 15% |
| Unituxin | $62.3M | 8% |
| Adcirca | $7.8M | 1% |
| Other | $6.6M | 1% |
