vs
安进（AMGN）与通用电气医疗（GEHC）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通用电气医疗的1.7倍（$9.9B vs $5.7B）。安进净利率更高（13.5% vs 10.3%，领先3.2%）。安进同比增速更快（8.6% vs 7.1%）。过去两年安进的营收复合增速更高（15.1% vs 10.7%）
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。
通用电气医疗是总部位于美国伊利诺伊州芝加哥的医疗科技企业，旗下设四大业务板块：医学影像（含分子成像、CT、核磁共振、女性健康筛查、X射线系统）、超声、患者护理解决方案（聚焦远程患者监测、麻醉呼吸护理、心脏病诊断、婴幼儿照护）及制药诊断业务。
AMGN vs GEHC — 直观对比
营收规模更大
AMGN
是对方的1.7倍
$5.7B
营收增速更快
AMGN
高出1.5%
7.1%
净利率更高
AMGN
高出3.2%
10.3%
两年增速更快
AMGN
近两年复合增速
10.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $5.7B |
| 净利润 | $1.3B | $588.0M |
| 毛利率 | 69.8% | 39.7% |
| 营业利润率 | 27.6% | 14.5% |
| 净利率 | 13.5% | 10.3% |
| 营收同比 | 8.6% | 7.1% |
| 净利润同比 | 112.6% | -18.4% |
| 每股收益（稀释后） | $2.45 | $1.28 |
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AMGNGEHC
| Q4 25 | $9.9B | $5.7B | ||
| Q3 25 | $9.6B | $5.1B | ||
| Q2 25 | $9.2B | $5.0B | ||
| Q1 25 | $8.1B | $4.8B | ||
| Q4 24 | $9.1B | $5.3B | ||
| Q3 24 | $8.5B | $4.9B | ||
| Q2 24 | $8.4B | $4.8B | ||
| Q1 24 | $7.4B | $4.7B |
净利润AMGNGEHC
| Q4 25 | $1.3B | $588.0M | ||
| Q3 25 | $3.2B | $446.0M | ||
| Q2 25 | $1.4B | $486.0M | ||
| Q1 25 | $1.7B | $564.0M | ||
| Q4 24 | $627.0M | $721.0M | ||
| Q3 24 | $2.8B | $470.0M | ||
| Q2 24 | $746.0M | $428.0M | ||
| Q1 24 | $-113.0M | $374.0M |
毛利率AMGNGEHC
| Q4 25 | 69.8% | 39.7% | ||
| Q3 25 | 67.8% | 38.7% | ||
| Q2 25 | 67.2% | 39.6% | ||
| Q1 25 | 63.6% | 42.1% | ||
| Q4 24 | 65.7% | 42.8% | ||
| Q3 24 | 61.1% | 41.7% | ||
| Q2 24 | 61.4% | 41.4% | ||
| Q1 24 | 57.0% | 40.9% |
营业利润率AMGNGEHC
| Q4 25 | 27.6% | 14.5% | ||
| Q3 25 | 26.4% | 12.7% | ||
| Q2 25 | 28.9% | 13.1% | ||
| Q1 25 | 14.5% | 13.2% | ||
| Q4 24 | 25.4% | 15.1% | ||
| Q3 24 | 24.1% | 13.9% | ||
| Q2 24 | 22.8% | 12.6% | ||
| Q1 24 | 13.3% | 11.6% |
净利率AMGNGEHC
| Q4 25 | 13.5% | 10.3% | ||
| Q3 25 | 33.7% | 8.7% | ||
| Q2 25 | 15.6% | 9.7% | ||
| Q1 25 | 21.2% | 11.8% | ||
| Q4 24 | 6.9% | 13.6% | ||
| Q3 24 | 33.3% | 9.7% | ||
| Q2 24 | 8.9% | 8.8% | ||
| Q1 24 | -1.5% | 8.0% |
每股收益（稀释后）AMGNGEHC
| Q4 25 | $2.45 | $1.28 | ||
| Q3 25 | $5.93 | $0.98 | ||
| Q2 25 | $2.65 | $1.06 | ||
| Q1 25 | $3.20 | $1.23 | ||
| Q4 24 | $1.17 | $1.58 | ||
| Q3 24 | $5.22 | $1.02 | ||
| Q2 24 | $1.38 | $0.93 | ||
| Q1 24 | $-0.21 | $0.81 |
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 | $4.5B |
| 总债务越低越好 | $54.6B | $10.0B |
| 股东权益账面价值 | $8.7B | $10.4B |
| 总资产 | $90.6B | $36.9B |
| 负债/权益比越低杠杆越低 | 6.31× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资AMGNGEHC
| Q4 25 | $9.1B | $4.5B | ||
| Q3 25 | $9.4B | $4.0B | ||
| Q2 25 | $8.0B | $3.7B | ||
| Q1 25 | $8.8B | $2.5B | ||
| Q4 24 | $12.0B | $2.9B | ||
| Q3 24 | $9.0B | $3.5B | ||
| Q2 24 | $9.3B | $2.0B | ||
| Q1 24 | $9.7B | $2.6B |
总债务AMGNGEHC
| Q4 25 | $54.6B | $10.0B | ||
| Q3 25 | $54.6B | $10.3B | ||
| Q2 25 | $56.2B | $10.3B | ||
| Q1 25 | $57.4B | $8.8B | ||
| Q4 24 | $60.1B | $9.0B | ||
| Q3 24 | $60.4B | $10.3B | ||
| Q2 24 | $62.6B | $9.2B | ||
| Q1 24 | $64.0B | $9.3B |
股东权益AMGNGEHC
| Q4 25 | $8.7B | $10.4B | ||
| Q3 25 | $9.6B | $10.0B | ||
| Q2 25 | $7.4B | $9.7B | ||
| Q1 25 | $6.2B | $9.2B | ||
| Q4 24 | $5.9B | $8.4B | ||
| Q3 24 | $7.5B | $8.3B | ||
| Q2 24 | $5.9B | $7.8B | ||
| Q1 24 | $5.0B | $7.4B |
总资产AMGNGEHC
| Q4 25 | $90.6B | $36.9B | ||
| Q3 25 | $90.1B | $36.1B | ||
| Q2 25 | $87.9B | $35.5B | ||
| Q1 25 | $89.4B | $33.6B | ||
| Q4 24 | $91.8B | $33.1B | ||
| Q3 24 | $90.9B | $33.9B | ||
| Q2 24 | $90.9B | $31.9B | ||
| Q1 24 | $93.0B | $32.2B |
负债/权益比AMGNGEHC
| Q4 25 | 6.31× | 0.96× | ||
| Q3 25 | 5.67× | 1.03× | ||
| Q2 25 | 7.57× | 1.06× | ||
| Q1 25 | 9.24× | 0.95× | ||
| Q4 24 | 10.23× | 1.06× | ||
| Q3 24 | 8.02× | 1.24× | ||
| Q2 24 | 10.57× | 1.18× | ||
| Q1 24 | 12.75× | 1.25× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $961.0M | — |
| 自由现金流率自由现金流/营收 | 9.7% | — |
| 资本支出强度资本支出/营收 | 6.5% | 2.4% |
| 现金转化率经营现金流/净利润 | 1.20× | — |
| 过去12个月自由现金流最近4个季度 | $8.1B | — |
8季度趋势，按日历期对齐
经营现金流AMGNGEHC
| Q4 25 | $1.6B | — | ||
| Q3 25 | $4.7B | — | ||
| Q2 25 | $2.3B | $94.0M | ||
| Q1 25 | $1.4B | $250.0M | ||
| Q4 24 | $4.8B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $2.5B | $-119.0M | ||
| Q1 24 | $689.0M | $419.0M |
自由现金流AMGNGEHC
| Q4 25 | $961.0M | — | ||
| Q3 25 | $4.2B | — | ||
| Q2 25 | $1.9B | $8.0M | ||
| Q1 25 | $980.0M | $98.0M | ||
| Q4 24 | $4.4B | — | ||
| Q3 24 | $3.3B | — | ||
| Q2 24 | $2.2B | $-183.0M | ||
| Q1 24 | $459.0M | $274.0M |
自由现金流率AMGNGEHC
| Q4 25 | 9.7% | — | ||
| Q3 25 | 44.4% | — | ||
| Q2 25 | 20.8% | 0.2% | ||
| Q1 25 | 12.0% | 2.1% | ||
| Q4 24 | 48.4% | — | ||
| Q3 24 | 39.0% | — | ||
| Q2 24 | 26.5% | -3.8% | ||
| Q1 24 | 6.2% | 5.9% |
资本支出强度AMGNGEHC
| Q4 25 | 6.5% | 2.4% | ||
| Q3 25 | 4.6% | 2.1% | ||
| Q2 25 | 4.0% | 1.7% | ||
| Q1 25 | 5.0% | 3.2% | ||
| Q4 24 | 4.1% | 1.9% | ||
| Q3 24 | 3.0% | 1.9% | ||
| Q2 24 | 2.8% | 1.3% | ||
| Q1 24 | 3.1% | 3.1% |
现金转化率AMGNGEHC
| Q4 25 | 1.20× | — | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.59× | 0.19× | ||
| Q1 25 | 0.80× | 0.44× | ||
| Q4 24 | 7.61× | — | ||
| Q3 24 | 1.26× | — | ||
| Q2 24 | 3.30× | -0.28× | ||
| Q1 24 | — | 1.12× |
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% |
GEHC
| Imaging Segment | $2.6B | 45% |
| PCS Segment | $824.0M | 14% |
| P Dx Segment | $790.0M | 14% |
| Specialized Ultrasound Subsegment | $735.0M | 13% |
| Monitoring Solutions Subsegment | $578.0M | 10% |
| Life Support Solutions Subsegment | $247.0M | 4% |
