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安进（AMGN）与卡夫亨氏（KHC）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卡夫亨氏的1.6倍（$9.9B vs $6.4B），安进净利率更高（13.5% vs 10.2%，领先3.3%），安进同比增速更快（8.6% vs -3.4%），卡夫亨氏自由现金流更多（$1.2B vs $961.0M），过去两年安进的营收复合增速更高（15.1% vs -0.4%）
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。
卡夫亨氏（股票代码：KHC）是美国大型跨国食品企业，由原卡夫食品集团与亨氏公司合并组建，在芝加哥与匹兹堡均设有总部，旗下拥有多款全球知名食品品牌，业务覆盖全球众多市场。
AMGN vs KHC — 直观对比
营收规模更大
AMGN
是对方的1.6倍
$6.4B
营收增速更快
AMGN
高出12.0%
-3.4%
净利率更高
AMGN
高出3.3%
10.2%
自由现金流更多
KHC
多$210.0M
$961.0M
两年增速更快
AMGN
近两年复合增速
-0.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $6.4B |
| 净利润 | $1.3B | $651.0M |
| 毛利率 | 69.8% | 32.6% |
| 营业利润率 | 27.6% | 17.1% |
| 净利率 | 13.5% | 10.2% |
| 营收同比 | 8.6% | -3.4% |
| 净利润同比 | 112.6% | -69.5% |
| 每股收益（稀释后） | $2.45 | $0.56 |
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AMGNKHC
| Q4 25 | $9.9B | $6.4B | ||
| Q3 25 | $9.6B | $6.2B | ||
| Q2 25 | $9.2B | $6.4B | ||
| Q1 25 | $8.1B | $6.0B | ||
| Q4 24 | $9.1B | $6.6B | ||
| Q3 24 | $8.5B | $6.4B | ||
| Q2 24 | $8.4B | $6.5B | ||
| Q1 24 | $7.4B | $6.4B |
净利润AMGNKHC
| Q4 25 | $1.3B | $651.0M | ||
| Q3 25 | $3.2B | $615.0M | ||
| Q2 25 | $1.4B | $-7.8B | ||
| Q1 25 | $1.7B | $712.0M | ||
| Q4 24 | $627.0M | $2.1B | ||
| Q3 24 | $2.8B | $-290.0M | ||
| Q2 24 | $746.0M | $102.0M | ||
| Q1 24 | $-113.0M | $801.0M |
毛利率AMGNKHC
| Q4 25 | 69.8% | 32.6% | ||
| Q3 25 | 67.8% | 31.9% | ||
| Q2 25 | 67.2% | 34.4% | ||
| Q1 25 | 63.6% | 34.4% | ||
| Q4 24 | 65.7% | 34.1% | ||
| Q3 24 | 61.1% | 34.2% | ||
| Q2 24 | 61.4% | 35.4% | ||
| Q1 24 | 57.0% | 35.0% |
营业利润率AMGNKHC
| Q4 25 | 27.6% | 17.1% | ||
| Q3 25 | 26.4% | 16.4% | ||
| Q2 25 | 28.9% | -125.5% | ||
| Q1 25 | 14.5% | 19.9% | ||
| Q4 24 | 25.4% | -0.6% | ||
| Q3 24 | 24.1% | -1.6% | ||
| Q2 24 | 22.8% | 8.1% | ||
| Q1 24 | 13.3% | 20.3% |
净利率AMGNKHC
| Q4 25 | 13.5% | 10.2% | ||
| Q3 25 | 33.7% | 9.9% | ||
| Q2 25 | 15.6% | -123.2% | ||
| Q1 25 | 21.2% | 11.9% | ||
| Q4 24 | 6.9% | 32.4% | ||
| Q3 24 | 33.3% | -4.5% | ||
| Q2 24 | 8.9% | 1.6% | ||
| Q1 24 | -1.5% | 12.5% |
每股收益（稀释后）AMGNKHC
| Q4 25 | $2.45 | $0.56 | ||
| Q3 25 | $5.93 | $0.52 | ||
| Q2 25 | $2.65 | $-6.60 | ||
| Q1 25 | $3.20 | $0.59 | ||
| Q4 24 | $1.17 | $1.76 | ||
| Q3 24 | $5.22 | $-0.24 | ||
| Q2 24 | $1.38 | $0.08 | ||
| Q1 24 | $-0.21 | $0.66 |
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 | $2.6B |
| 总债务越低越好 | $54.6B | $19.3B |
| 股东权益账面价值 | $8.7B | $41.7B |
| 总资产 | $90.6B | $81.8B |
| 负债/权益比越低杠杆越低 | 6.31× | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资AMGNKHC
| Q4 25 | $9.1B | $2.6B | ||
| Q3 25 | $9.4B | $3.1B | ||
| Q2 25 | $8.0B | $2.6B | ||
| Q1 25 | $8.8B | $2.8B | ||
| Q4 24 | $12.0B | $1.3B | ||
| Q3 24 | $9.0B | $1.3B | ||
| Q2 24 | $9.3B | $900.0M | ||
| Q1 24 | $9.7B | $1.6B |
总债务AMGNKHC
| Q4 25 | $54.6B | $19.3B | ||
| Q3 25 | $54.6B | $19.3B | ||
| Q2 25 | $56.2B | $19.3B | ||
| Q1 25 | $57.4B | $20.9B | ||
| Q4 24 | $60.1B | $19.2B | ||
| Q3 24 | $60.4B | $19.4B | ||
| Q2 24 | $62.6B | $19.3B | ||
| Q1 24 | $64.0B | $19.9B |
股东权益AMGNKHC
| Q4 25 | $8.7B | $41.7B | ||
| Q3 25 | $9.6B | $41.5B | ||
| Q2 25 | $7.4B | $41.4B | ||
| Q1 25 | $6.2B | $49.5B | ||
| Q4 24 | $5.9B | $49.2B | ||
| Q3 24 | $7.5B | $48.3B | ||
| Q2 24 | $5.9B | $48.9B | ||
| Q1 24 | $5.0B | $49.5B |
总资产AMGNKHC
| Q4 25 | $90.6B | $81.8B | ||
| Q3 25 | $90.1B | $81.7B | ||
| Q2 25 | $87.9B | $81.6B | ||
| Q1 25 | $89.4B | $90.3B | ||
| Q4 24 | $91.8B | $88.3B | ||
| Q3 24 | $90.9B | $88.6B | ||
| Q2 24 | $90.9B | $88.8B | ||
| Q1 24 | $93.0B | $90.3B |
负债/权益比AMGNKHC
| Q4 25 | 6.31× | 0.46× | ||
| Q3 25 | 5.67× | 0.47× | ||
| Q2 25 | 7.57× | 0.47× | ||
| Q1 25 | 9.24× | 0.42× | ||
| Q4 24 | 10.23× | 0.39× | ||
| Q3 24 | 8.02× | 0.40× | ||
| Q2 24 | 10.57× | 0.39× | ||
| Q1 24 | 12.75× | 0.40× |
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 | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $961.0M | $1.2B |
| 自由现金流率自由现金流/营收 | 9.7% | 18.4% |
| 资本支出强度资本支出/营收 | 6.5% | 3.2% |
| 现金转化率经营现金流/净利润 | 1.20× | 2.11× |
| 过去12个月自由现金流最近4个季度 | $8.1B | $3.7B |
8季度趋势，按日历期对齐
经营现金流AMGNKHC
| Q4 25 | $1.6B | $1.4B | ||
| Q3 25 | $4.7B | $1.2B | ||
| Q2 25 | $2.3B | $1.2B | ||
| Q1 25 | $1.4B | $720.0M | ||
| Q4 24 | $4.8B | $1.4B | ||
| Q3 24 | $3.6B | $1.1B | ||
| Q2 24 | $2.5B | $942.0M | ||
| Q1 24 | $689.0M | $771.0M |
自由现金流AMGNKHC
| Q4 25 | $961.0M | $1.2B | ||
| Q3 25 | $4.2B | $986.0M | ||
| Q2 25 | $1.9B | $1.0B | ||
| Q1 25 | $980.0M | $482.0M | ||
| Q4 24 | $4.4B | $1.1B | ||
| Q3 24 | $3.3B | $849.0M | ||
| Q2 24 | $2.2B | $693.0M | ||
| Q1 24 | $459.0M | $477.0M |
自由现金流率AMGNKHC
| Q4 25 | 9.7% | 18.4% | ||
| Q3 25 | 44.4% | 15.8% | ||
| Q2 25 | 20.8% | 16.1% | ||
| Q1 25 | 12.0% | 8.0% | ||
| Q4 24 | 48.4% | 17.4% | ||
| Q3 24 | 39.0% | 13.3% | ||
| Q2 24 | 26.5% | 10.7% | ||
| Q1 24 | 6.2% | 7.4% |
资本支出强度AMGNKHC
| Q4 25 | 6.5% | 3.2% | ||
| Q3 25 | 4.6% | 2.7% | ||
| Q2 25 | 4.0% | 2.9% | ||
| Q1 25 | 5.0% | 4.0% | ||
| Q4 24 | 4.1% | 3.8% | ||
| Q3 24 | 3.0% | 3.7% | ||
| Q2 24 | 2.8% | 3.8% | ||
| Q1 24 | 3.1% | 4.6% |
现金转化率AMGNKHC
| Q4 25 | 1.20× | 2.11× | ||
| Q3 25 | 1.46× | 1.88× | ||
| Q2 25 | 1.59× | — | ||
| Q1 25 | 0.80× | 1.01× | ||
| Q4 24 | 7.61× | 0.65× | ||
| Q3 24 | 1.26× | — | ||
| Q2 24 | 3.30× | 9.24× | ||
| Q1 24 | — | 0.96× |
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% |
KHC
| Taste Elevation | $2.9B | 46% |
| Easy Ready Meals | $1.1B | 17% |
| Hydration | $471.0M | 7% |
| Cheese | $440.0M | 7% |
| Meats | $438.0M | 7% |
| Substantial Snacking | $351.0M | 6% |
| Desserts | $332.0M | 5% |
| Coffee | $221.0M | 3% |
| Other Platform | $127.0M | 2% |
