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安进（AMGN）与福泰制药（VRTX）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福泰制药的3.1倍（$9.9B vs $3.2B），福泰制药净利率更高（37.3% vs 13.5%，领先23.8%），福泰制药同比增速更快（9.5% vs 8.6%），安进自由现金流更多（$961.0M vs $348.6M），过去两年安进的营收复合增速更高（15.1% vs 8.9%）
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。
福泰制药是总部位于美国马萨诸塞州波士顿的生物制药企业，是全球首批明确采用理性药物设计策略、而非组合化学方法开发药物的生物技术公司之一。除波士顿总部外，公司还在加州圣迭戈、英国牛津郡米尔顿公园设有三处研发中心。
AMGN vs VRTX — 直观对比
营收规模更大
AMGN
是对方的3.1倍
$3.2B
营收增速更快
VRTX
高出1.0%
8.6%
净利率更高
VRTX
高出23.8%
13.5%
自由现金流更多
AMGN
多$612.4M
$348.6M
两年增速更快
AMGN
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $3.2B |
| 净利润 | $1.3B | $1.2B |
| 毛利率 | 69.8% | 85.4% |
| 营业利润率 | 27.6% | 37.8% |
| 净利率 | 13.5% | 37.3% |
| 营收同比 | 8.6% | 9.5% |
| 净利润同比 | 112.6% | 30.5% |
| 每股收益（稀释后） | $2.45 | $4.64 |
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AMGNVRTX
| Q4 25 | $9.9B | $3.2B | ||
| Q3 25 | $9.6B | $3.1B | ||
| Q2 25 | $9.2B | $3.0B | ||
| Q1 25 | $8.1B | $2.8B | ||
| Q4 24 | $9.1B | $2.9B | ||
| Q3 24 | $8.5B | $2.8B | ||
| Q2 24 | $8.4B | $2.6B | ||
| Q1 24 | $7.4B | $2.7B |
净利润AMGNVRTX
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $3.2B | $1.1B | ||
| Q2 25 | $1.4B | $1.0B | ||
| Q1 25 | $1.7B | $646.3M | ||
| Q4 24 | $627.0M | $913.0M | ||
| Q3 24 | $2.8B | $1.0B | ||
| Q2 24 | $746.0M | $-3.6B | ||
| Q1 24 | $-113.0M | $1.1B |
毛利率AMGNVRTX
| Q4 25 | 69.8% | 85.4% | ||
| Q3 25 | 67.8% | 86.5% | ||
| Q2 25 | 67.2% | 86.3% | ||
| Q1 25 | 63.6% | 86.9% | ||
| Q4 24 | 65.7% | 85.5% | ||
| Q3 24 | 61.1% | 85.8% | ||
| Q2 24 | 61.4% | 85.9% | ||
| Q1 24 | 57.0% | 87.3% |
营业利润率AMGNVRTX
| Q4 25 | 27.6% | 37.8% | ||
| Q3 25 | 26.4% | 38.6% | ||
| Q2 25 | 28.9% | 38.8% | ||
| Q1 25 | 14.5% | 22.7% | ||
| Q4 24 | 25.4% | 35.2% | ||
| Q3 24 | 24.1% | 40.3% | ||
| Q2 24 | 22.8% | -132.9% | ||
| Q1 24 | 13.3% | 42.4% |
净利率AMGNVRTX
| Q4 25 | 13.5% | 37.3% | ||
| Q3 25 | 33.7% | 35.2% | ||
| Q2 25 | 15.6% | 34.8% | ||
| Q1 25 | 21.2% | 23.3% | ||
| Q4 24 | 6.9% | 31.4% | ||
| Q3 24 | 33.3% | 37.7% | ||
| Q2 24 | 8.9% | -135.8% | ||
| Q1 24 | -1.5% | 40.9% |
每股收益（稀释后）AMGNVRTX
| Q4 25 | $2.45 | $4.64 | ||
| Q3 25 | $5.93 | $4.20 | ||
| Q2 25 | $2.65 | $3.99 | ||
| Q1 25 | $3.20 | $2.49 | ||
| Q4 24 | $1.17 | $3.62 | ||
| Q3 24 | $5.22 | $4.01 | ||
| Q2 24 | $1.38 | $-13.92 | ||
| Q1 24 | $-0.21 | $4.21 |
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 | $6.6B |
| 总债务越低越好 | $54.6B | — |
| 股东权益账面价值 | $8.7B | $18.7B |
| 总资产 | $90.6B | $25.6B |
| 负债/权益比越低杠杆越低 | 6.31× | — |
8季度趋势，按日历期对齐
现金及短期投资AMGNVRTX
| Q4 25 | $9.1B | $6.6B | ||
| Q3 25 | $9.4B | $6.3B | ||
| Q2 25 | $8.0B | $6.4B | ||
| Q1 25 | $8.8B | $6.2B | ||
| Q4 24 | $12.0B | $6.1B | ||
| Q3 24 | $9.0B | $6.5B | ||
| Q2 24 | $9.3B | $5.8B | ||
| Q1 24 | $9.7B | $10.2B |
总债务AMGNVRTX
| Q4 25 | $54.6B | — | ||
| Q3 25 | $54.6B | — | ||
| Q2 25 | $56.2B | — | ||
| Q1 25 | $57.4B | — | ||
| Q4 24 | $60.1B | — | ||
| Q3 24 | $60.4B | — | ||
| Q2 24 | $62.6B | — | ||
| Q1 24 | $64.0B | — |
股东权益AMGNVRTX
| Q4 25 | $8.7B | $18.7B | ||
| Q3 25 | $9.6B | $17.3B | ||
| Q2 25 | $7.4B | $17.2B | ||
| Q1 25 | $6.2B | $16.5B | ||
| Q4 24 | $5.9B | $16.4B | ||
| Q3 24 | $7.5B | $15.6B | ||
| Q2 24 | $5.9B | $14.8B | ||
| Q1 24 | $5.0B | $18.5B |
总资产AMGNVRTX
| Q4 25 | $90.6B | $25.6B | ||
| Q3 25 | $90.1B | $24.9B | ||
| Q2 25 | $87.9B | $24.0B | ||
| Q1 25 | $89.4B | $22.9B | ||
| Q4 24 | $91.8B | $22.5B | ||
| Q3 24 | $90.9B | $22.2B | ||
| Q2 24 | $90.9B | $20.1B | ||
| Q1 24 | $93.0B | $23.9B |
负债/权益比AMGNVRTX
| Q4 25 | 6.31× | — | ||
| Q3 25 | 5.67× | — | ||
| Q2 25 | 7.57× | — | ||
| Q1 25 | 9.24× | — | ||
| Q4 24 | 10.23× | — | ||
| Q3 24 | 8.02× | — | ||
| Q2 24 | 10.57× | — | ||
| Q1 24 | 12.75× | — |
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 | $498.0M |
| 自由现金流经营现金流 - 资本支出 | $961.0M | $348.6M |
| 自由现金流率自由现金流/营收 | 9.7% | 10.9% |
| 资本支出强度资本支出/营收 | 6.5% | 4.7% |
| 现金转化率经营现金流/净利润 | 1.20× | 0.42× |
| 过去12个月自由现金流最近4个季度 | $8.1B | $3.2B |
8季度趋势，按日历期对齐
经营现金流AMGNVRTX
| Q4 25 | $1.6B | $498.0M | ||
| Q3 25 | $4.7B | $1.2B | ||
| Q2 25 | $2.3B | $1.1B | ||
| Q1 25 | $1.4B | $818.9M | ||
| Q4 24 | $4.8B | $584.6M | ||
| Q3 24 | $3.6B | $1.4B | ||
| Q2 24 | $2.5B | $-3.8B | ||
| Q1 24 | $689.0M | $1.3B |
自由现金流AMGNVRTX
| Q4 25 | $961.0M | $348.6M | ||
| Q3 25 | $4.2B | $1.1B | ||
| Q2 25 | $1.9B | $927.4M | ||
| Q1 25 | $980.0M | $778.2M | ||
| Q4 24 | $4.4B | $492.0M | ||
| Q3 24 | $3.3B | $1.3B | ||
| Q2 24 | $2.2B | $-3.8B | ||
| Q1 24 | $459.0M | $1.2B |
自由现金流率AMGNVRTX
| Q4 25 | 9.7% | 10.9% | ||
| Q3 25 | 44.4% | 37.0% | ||
| Q2 25 | 20.8% | 31.3% | ||
| Q1 25 | 12.0% | 28.1% | ||
| Q4 24 | 48.4% | 16.9% | ||
| Q3 24 | 39.0% | 47.0% | ||
| Q2 24 | 26.5% | -144.5% | ||
| Q1 24 | 6.2% | 46.0% |
资本支出强度AMGNVRTX
| Q4 25 | 6.5% | 4.7% | ||
| Q3 25 | 4.6% | 3.3% | ||
| Q2 25 | 4.0% | 4.9% | ||
| Q1 25 | 5.0% | 1.5% | ||
| Q4 24 | 4.1% | 3.2% | ||
| Q3 24 | 3.0% | 2.4% | ||
| Q2 24 | 2.8% | 2.6% | ||
| Q1 24 | 3.1% | 2.5% |
现金转化率AMGNVRTX
| Q4 25 | 1.20× | 0.42× | ||
| Q3 25 | 1.46× | 1.15× | ||
| Q2 25 | 1.59× | 1.04× | ||
| Q1 25 | 0.80× | 1.27× | ||
| Q4 24 | 7.61× | 0.64× | ||
| Q3 24 | 1.26× | 1.31× | ||
| Q2 24 | 3.30× | — | ||
| Q1 24 | — | 1.19× |
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% |
VRTX
| TRIKAFTAKAFTRIO | $2.6B | 81% |
| ALYFTREK | $380.1M | 12% |
| Manufactured Product Other | $237.4M | 7% |
