vs
安进（AMGN）与康明斯（CMI）财务数据对比。点击上方公司名可切换其他公司
安进的季度营收约是康明斯的1.2倍（$9.9B vs $8.5B），安进净利率更高（13.5% vs 7.3%，领先6.2%），安进同比增速更快（8.6% vs 1.1%），康明斯自由现金流更多（$990.0M vs $961.0M），过去两年安进的营收复合增速更高（15.1% vs 0.8%）
安进是总部位于美国加利福尼亚州千橡市的跨国生物制药企业，公司名称取自最初的全称「应用分子遗传学」的缩写组合，按营收规模排名位列全球生物医药企业第18位，专注于研发、生产及商业化创新生物药物，为全球患者提供优质治疗选择。
康明斯是总部位于美国的跨国企业，专注于设计、制造及销售柴油发动机、电动汽车零部件、发电产品，同时提供发动机及相关配套设备的维保服务，业务覆盖燃油系统、空气处理系统、过滤设备、排放控制、发电系统及发动机控制单元等多个领域。
AMGN vs CMI — 直观对比
营收规模更大
AMGN
是对方的1.2倍
$8.5B
营收增速更快
AMGN
高出7.5%
1.1%
净利率更高
AMGN
高出6.2%
7.3%
自由现金流更多
CMI
多$29.0M
$961.0M
两年增速更快
AMGN
近两年复合增速
0.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $8.5B |
| 净利润 | $1.3B | $620.0M |
| 毛利率 | 69.8% | 22.9% |
| 营业利润率 | 27.6% | 9.5% |
| 净利率 | 13.5% | 7.3% |
| 营收同比 | 8.6% | 1.1% |
| 净利润同比 | 112.6% | 39.3% |
| 每股收益（稀释后） | $2.45 | $4.25 |
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AMGNCMI
| Q4 25 | $9.9B | $8.5B | ||
| Q3 25 | $9.6B | $8.3B | ||
| Q2 25 | $9.2B | $8.6B | ||
| Q1 25 | $8.1B | $8.2B | ||
| Q4 24 | $9.1B | $8.4B | ||
| Q3 24 | $8.5B | $8.5B | ||
| Q2 24 | $8.4B | $8.8B | ||
| Q1 24 | $7.4B | $8.4B |
净利润AMGNCMI
| Q4 25 | $1.3B | $620.0M | ||
| Q3 25 | $3.2B | $559.0M | ||
| Q2 25 | $1.4B | $928.0M | ||
| Q1 25 | $1.7B | $850.0M | ||
| Q4 24 | $627.0M | $445.0M | ||
| Q3 24 | $2.8B | $843.0M | ||
| Q2 24 | $746.0M | $752.0M | ||
| Q1 24 | $-113.0M | $2.0B |
毛利率AMGNCMI
| Q4 25 | 69.8% | 22.9% | ||
| Q3 25 | 67.8% | 25.6% | ||
| Q2 25 | 67.2% | 26.4% | ||
| Q1 25 | 63.6% | 26.4% | ||
| Q4 24 | 65.7% | 24.1% | ||
| Q3 24 | 61.1% | 25.7% | ||
| Q2 24 | 61.4% | 24.9% | ||
| Q1 24 | 57.0% | 24.3% |
营业利润率AMGNCMI
| Q4 25 | 27.6% | 9.5% | ||
| Q3 25 | 26.4% | 10.2% | ||
| Q2 25 | 28.9% | 14.2% | ||
| Q1 25 | 14.5% | 13.9% | ||
| Q4 24 | 25.4% | 8.7% | ||
| Q3 24 | 24.1% | 12.4% | ||
| Q2 24 | 22.8% | 11.9% | ||
| Q1 24 | 13.3% | 11.0% |
净利率AMGNCMI
| Q4 25 | 13.5% | 7.3% | ||
| Q3 25 | 33.7% | 6.7% | ||
| Q2 25 | 15.6% | 10.7% | ||
| Q1 25 | 21.2% | 10.4% | ||
| Q4 24 | 6.9% | 5.3% | ||
| Q3 24 | 33.3% | 10.0% | ||
| Q2 24 | 8.9% | 8.5% | ||
| Q1 24 | -1.5% | 24.1% |
每股收益（稀释后）AMGNCMI
| Q4 25 | $2.45 | $4.25 | ||
| Q3 25 | $5.93 | $3.86 | ||
| Q2 25 | $2.65 | $6.43 | ||
| Q1 25 | $3.20 | $5.96 | ||
| Q4 24 | $1.17 | $3.22 | ||
| Q3 24 | $5.22 | $5.86 | ||
| Q2 24 | $1.38 | $5.26 | ||
| Q1 24 | $-0.21 | $14.03 |
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 | $9.1B | $4.4B |
| 总债务越低越好 | $54.6B | $6.8B |
| 股东权益账面价值 | $8.7B | $12.3B |
| 总资产 | $90.6B | $34.0B |
| 负债/权益比越低杠杆越低 | 6.31× | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资AMGNCMI
| Q4 25 | $9.1B | $4.4B | ||
| Q3 25 | $9.4B | $3.2B | ||
| Q2 25 | $8.0B | $3.1B | ||
| Q1 25 | $8.8B | $2.2B | ||
| Q4 24 | $12.0B | $2.3B | ||
| Q3 24 | $9.0B | $2.3B | ||
| Q2 24 | $9.3B | $2.2B | ||
| Q1 24 | $9.7B | $3.1B |
总债务AMGNCMI
| Q4 25 | $54.6B | $6.8B | ||
| Q3 25 | $54.6B | $6.8B | ||
| Q2 25 | $56.2B | $6.8B | ||
| Q1 25 | $57.4B | $4.8B | ||
| Q4 24 | $60.1B | $4.8B | ||
| Q3 24 | $60.4B | $4.9B | ||
| Q2 24 | $62.6B | $5.4B | ||
| Q1 24 | $64.0B | $5.8B |
股东权益AMGNCMI
| Q4 25 | $8.7B | $12.3B | ||
| Q3 25 | $9.6B | $12.1B | ||
| Q2 25 | $7.4B | $11.8B | ||
| Q1 25 | $6.2B | $10.9B | ||
| Q4 24 | $5.9B | $10.3B | ||
| Q3 24 | $7.5B | $10.3B | ||
| Q2 24 | $5.9B | $9.6B | ||
| Q1 24 | $5.0B | $9.1B |
总资产AMGNCMI
| Q4 25 | $90.6B | $34.0B | ||
| Q3 25 | $90.1B | $33.6B | ||
| Q2 25 | $87.9B | $34.3B | ||
| Q1 25 | $89.4B | $32.5B | ||
| Q4 24 | $91.8B | $31.5B | ||
| Q3 24 | $90.9B | $32.1B | ||
| Q2 24 | $90.9B | $31.3B | ||
| Q1 24 | $93.0B | $31.8B |
负债/权益比AMGNCMI
| Q4 25 | 6.31× | 0.55× | ||
| Q3 25 | 5.67× | 0.57× | ||
| Q2 25 | 7.57× | 0.58× | ||
| Q1 25 | 9.24× | 0.44× | ||
| Q4 24 | 10.23× | 0.47× | ||
| Q3 24 | 8.02× | 0.47× | ||
| Q2 24 | 10.57× | 0.57× | ||
| Q1 24 | 12.75× | 0.64× |
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 | $1.6B | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $961.0M | $990.0M |
| 自由现金流率自由现金流/营收 | 9.7% | 11.6% |
| 资本支出强度资本支出/营收 | 6.5% | 6.4% |
| 现金转化率经营现金流/净利润 | 1.20× | 2.47× |
| 过去12个月自由现金流最近4个季度 | $8.1B | $2.4B |
8季度趋势，按日历期对齐
经营现金流AMGNCMI
| Q4 25 | $1.6B | $1.5B | ||
| Q3 25 | $4.7B | $1.3B | ||
| Q2 25 | $2.3B | $785.0M | ||
| Q1 25 | $1.4B | $-3.0M | ||
| Q4 24 | $4.8B | $1.4B | ||
| Q3 24 | $3.6B | $640.0M | ||
| Q2 24 | $2.5B | $-851.0M | ||
| Q1 24 | $689.0M | $276.0M |
自由现金流AMGNCMI
| Q4 25 | $961.0M | $990.0M | ||
| Q3 25 | $4.2B | $1.0B | ||
| Q2 25 | $1.9B | $554.0M | ||
| Q1 25 | $980.0M | $-165.0M | ||
| Q4 24 | $4.4B | $882.0M | ||
| Q3 24 | $3.3B | $381.0M | ||
| Q2 24 | $2.2B | $-1.1B | ||
| Q1 24 | $459.0M | $107.0M |
自由现金流率AMGNCMI
| Q4 25 | 9.7% | 11.6% | ||
| Q3 25 | 44.4% | 12.1% | ||
| Q2 25 | 20.8% | 6.4% | ||
| Q1 25 | 12.0% | -2.0% | ||
| Q4 24 | 48.4% | 10.4% | ||
| Q3 24 | 39.0% | 4.5% | ||
| Q2 24 | 26.5% | -12.4% | ||
| Q1 24 | 6.2% | 1.3% |
资本支出强度AMGNCMI
| Q4 25 | 6.5% | 6.4% | ||
| Q3 25 | 4.6% | 3.6% | ||
| Q2 25 | 4.0% | 2.7% | ||
| Q1 25 | 5.0% | 2.0% | ||
| Q4 24 | 4.1% | 6.4% | ||
| Q3 24 | 3.0% | 3.1% | ||
| Q2 24 | 2.8% | 2.7% | ||
| Q1 24 | 3.1% | 2.0% |
现金转化率AMGNCMI
| Q4 25 | 1.20× | 2.47× | ||
| Q3 25 | 1.46× | 2.33× | ||
| Q2 25 | 1.59× | 0.85× | ||
| Q1 25 | 0.80× | -0.00× | ||
| Q4 24 | 7.61× | 3.20× | ||
| Q3 24 | 1.26× | 0.76× | ||
| Q2 24 | 3.30× | -1.13× | ||
| Q1 24 | — | 0.14× |
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
AMGN
| Products | $9.4B | 95% |
| Xgeva | $291.0M | 3% |
| Vectibix | $163.0M | 2% |
| Aranesp | $115.0M | 1% |
CMI
| Other | $2.9B | 34% |
| Parts | $1.0B | 12% |
| Mediumdutytruckandbus | $638.0M | 7% |
| Heavydutytruck | $623.0M | 7% |
| Intersegmentsales | $620.0M | 7% |
| PSBU Power Generation | $577.0M | 7% |
| Related Party | $469.0M | 5% |
| Services | $449.0M | 5% |
| Lightdutyautomotive | $440.0M | 5% |
| Industrial | $333.0M | 4% |
| Offhighway | $279.0M | 3% |
| Generatortechnologies | $152.0M | 2% |
