vs
安进（AMGN）与慧与（HPE）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慧与的1.0倍（$9.9B vs $9.7B），安进净利率更高（13.5% vs 1.8%，领先11.7%），慧与同比增速更快（14.4% vs 8.6%），慧与自由现金流更多（$1.8B vs $961.0M），过去两年慧与的营收复合增速更高（19.7% vs 15.1%）
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。
慧与（Hewlett Packard Enterprise，简称HPE）是总部位于美国得克萨斯州斯普林的跨国信息技术企业，面向企业客户提供服务器、存储、网络、容器化软件及配套咨询与技术支持服务，2018年位列美国《财富》500强美国企业营收排行榜第107位。
AMGN vs HPE — 直观对比
营收规模更大
AMGN
是对方的1.0倍
$9.7B
营收增速更快
HPE
高出5.9%
8.6%
净利率更高
AMGN
高出11.7%
1.8%
自由现金流更多
HPE
多$863.0M
$961.0M
两年增速更快
HPE
近两年复合增速
15.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $9.7B |
| 净利润 | $1.3B | $175.0M |
| 毛利率 | 69.8% | — |
| 营业利润率 | 27.6% | -0.1% |
| 净利率 | 13.5% | 1.8% |
| 营收同比 | 8.6% | 14.4% |
| 净利润同比 | 112.6% | -87.2% |
| 每股收益（稀释后） | $2.45 | $0.13 |
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AMGNHPE
| Q4 25 | $9.9B | $9.7B | ||
| Q3 25 | $9.6B | $9.1B | ||
| Q2 25 | $9.2B | $7.6B | ||
| Q1 25 | $8.1B | $7.9B | ||
| Q4 24 | $9.1B | $8.5B | ||
| Q3 24 | $8.5B | $7.7B | ||
| Q2 24 | $8.4B | $7.2B | ||
| Q1 24 | $7.4B | $6.8B |
净利润AMGNHPE
| Q4 25 | $1.3B | $175.0M | ||
| Q3 25 | $3.2B | $305.0M | ||
| Q2 25 | $1.4B | $-1.1B | ||
| Q1 25 | $1.7B | $627.0M | ||
| Q4 24 | $627.0M | $1.4B | ||
| Q3 24 | $2.8B | $512.0M | ||
| Q2 24 | $746.0M | $314.0M | ||
| Q1 24 | $-113.0M | $387.0M |
毛利率AMGNHPE
| Q4 25 | 69.8% | — | ||
| Q3 25 | 67.8% | — | ||
| Q2 25 | 67.2% | — | ||
| Q1 25 | 63.6% | — | ||
| Q4 24 | 65.7% | — | ||
| Q3 24 | 61.1% | — | ||
| Q2 24 | 61.4% | — | ||
| Q1 24 | 57.0% | — |
营业利润率AMGNHPE
| Q4 25 | 27.6% | -0.1% | ||
| Q3 25 | 26.4% | 2.7% | ||
| Q2 25 | 28.9% | -14.5% | ||
| Q1 25 | 14.5% | 5.5% | ||
| Q4 24 | 25.4% | 8.2% | ||
| Q3 24 | 24.1% | 7.1% | ||
| Q2 24 | 22.8% | 5.9% | ||
| Q1 24 | 13.3% | 7.8% |
净利率AMGNHPE
| Q4 25 | 13.5% | 1.8% | ||
| Q3 25 | 33.7% | 3.3% | ||
| Q2 25 | 15.6% | -13.8% | ||
| Q1 25 | 21.2% | 8.0% | ||
| Q4 24 | 6.9% | 16.2% | ||
| Q3 24 | 33.3% | 6.6% | ||
| Q2 24 | 8.9% | 4.4% | ||
| Q1 24 | -1.5% | 5.7% |
每股收益（稀释后）AMGNHPE
| Q4 25 | $2.45 | $0.13 | ||
| Q3 25 | $5.93 | $0.21 | ||
| Q2 25 | $2.65 | $-0.82 | ||
| Q1 25 | $3.20 | $0.44 | ||
| Q4 24 | $1.17 | $1.02 | ||
| Q3 24 | $5.22 | $0.38 | ||
| Q2 24 | $1.38 | $0.24 | ||
| Q1 24 | $-0.21 | $0.29 |
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 | $5.8B |
| 总债务越低越好 | $54.6B | $17.8B |
| 股东权益账面价值 | $8.7B | $24.7B |
| 总资产 | $90.6B | $75.9B |
| 负债/权益比越低杠杆越低 | 6.31× | 0.72× |
8季度趋势，按日历期对齐
现金及短期投资AMGNHPE
| Q4 25 | $9.1B | $5.8B | ||
| Q3 25 | $9.4B | $4.6B | ||
| Q2 25 | $8.0B | $11.7B | ||
| Q1 25 | $8.8B | $13.4B | ||
| Q4 24 | $12.0B | $14.8B | ||
| Q3 24 | $9.0B | $3.6B | ||
| Q2 24 | $9.3B | $2.7B | ||
| Q1 24 | $9.7B | $3.8B |
总债务AMGNHPE
| Q4 25 | $54.6B | $17.8B | ||
| Q3 25 | $54.6B | $16.9B | ||
| Q2 25 | $56.2B | $12.4B | ||
| Q1 25 | $57.4B | $13.3B | ||
| Q4 24 | $60.1B | $13.5B | ||
| Q3 24 | $60.4B | $7.9B | ||
| Q2 24 | $62.6B | $7.5B | ||
| Q1 24 | $64.0B | $7.8B |
股东权益AMGNHPE
| Q4 25 | $8.7B | $24.7B | ||
| Q3 25 | $9.6B | $24.4B | ||
| Q2 25 | $7.4B | $23.9B | ||
| Q1 25 | $6.2B | $25.2B | ||
| Q4 24 | $5.9B | $24.8B | ||
| Q3 24 | $7.5B | $22.1B | ||
| Q2 24 | $5.9B | $21.7B | ||
| Q1 24 | $5.0B | $21.4B |
总资产AMGNHPE
| Q4 25 | $90.6B | $75.9B | ||
| Q3 25 | $90.1B | $77.3B | ||
| Q2 25 | $87.9B | $67.9B | ||
| Q1 25 | $89.4B | $70.3B | ||
| Q4 24 | $91.8B | $71.3B | ||
| Q3 24 | $90.9B | $60.9B | ||
| Q2 24 | $90.9B | $59.7B | ||
| Q1 24 | $93.0B | $58.6B |
负债/权益比AMGNHPE
| Q4 25 | 6.31× | 0.72× | ||
| Q3 25 | 5.67× | 0.69× | ||
| Q2 25 | 7.57× | 0.52× | ||
| Q1 25 | 9.24× | 0.53× | ||
| Q4 24 | 10.23× | 0.54× | ||
| Q3 24 | 8.02× | 0.36× | ||
| Q2 24 | 10.57× | 0.35× | ||
| Q1 24 | 12.75× | 0.37× |
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 | $2.5B |
| 自由现金流经营现金流 - 资本支出 | $961.0M | $1.8B |
| 自由现金流率自由现金流/营收 | 9.7% | 18.8% |
| 资本支出强度资本支出/营收 | 6.5% | 6.6% |
| 现金转化率经营现金流/净利润 | 1.20× | 14.09× |
| 过去12个月自由现金流最近4个季度 | $8.1B | $627.0M |
8季度趋势，按日历期对齐
经营现金流AMGNHPE
| Q4 25 | $1.6B | $2.5B | ||
| Q3 25 | $4.7B | $1.3B | ||
| Q2 25 | $2.3B | $-461.0M | ||
| Q1 25 | $1.4B | $-390.0M | ||
| Q4 24 | $4.8B | $2.0B | ||
| Q3 24 | $3.6B | $1.2B | ||
| Q2 24 | $2.5B | $1.1B | ||
| Q1 24 | $689.0M | $64.0M |
自由现金流AMGNHPE
| Q4 25 | $961.0M | $1.8B | ||
| Q3 25 | $4.2B | $729.0M | ||
| Q2 25 | $1.9B | $-1.0B | ||
| Q1 25 | $980.0M | $-918.0M | ||
| Q4 24 | $4.4B | $1.4B | ||
| Q3 24 | $3.3B | $611.0M | ||
| Q2 24 | $2.2B | $533.0M | ||
| Q1 24 | $459.0M | $-592.0M |
自由现金流率AMGNHPE
| Q4 25 | 9.7% | 18.8% | ||
| Q3 25 | 44.4% | 8.0% | ||
| Q2 25 | 20.8% | -13.2% | ||
| Q1 25 | 12.0% | -11.7% | ||
| Q4 24 | 48.4% | 16.8% | ||
| Q3 24 | 39.0% | 7.9% | ||
| Q2 24 | 26.5% | 7.4% | ||
| Q1 24 | 6.2% | -8.8% |
资本支出强度AMGNHPE
| Q4 25 | 6.5% | 6.6% | ||
| Q3 25 | 4.6% | 6.3% | ||
| Q2 25 | 4.0% | 7.2% | ||
| Q1 25 | 5.0% | 6.7% | ||
| Q4 24 | 4.1% | 7.2% | ||
| Q3 24 | 3.0% | 7.0% | ||
| Q2 24 | 2.8% | 7.8% | ||
| Q1 24 | 3.1% | 9.7% |
现金转化率AMGNHPE
| Q4 25 | 1.20× | 14.09× | ||
| Q3 25 | 1.46× | 4.28× | ||
| Q2 25 | 1.59× | — | ||
| Q1 25 | 0.80× | -0.62× | ||
| Q4 24 | 7.61× | 1.49× | ||
| Q3 24 | 1.26× | 2.25× | ||
| Q2 24 | 3.30× | 3.48× | ||
| Q1 24 | — | 0.17× |
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% |
HPE
| Products | $6.2B | 64% |
| Services | $3.3B | 34% |
| Other | $199.0M | 2% |
