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Amneal Pharmaceuticals, Inc.（AMRX）与UNITED THERAPEUTICS Corp（UTHR）财务数据对比。点击上方公司名可切换其他公司
Amneal Pharmaceuticals, Inc.的季度营收约是UNITED THERAPEUTICS Corp的1.0倍（$814.3M vs $790.2M），UNITED THERAPEUTICS Corp净利率更高（46.1% vs 4.3%，领先41.8%），Amneal Pharmaceuticals, Inc.同比增速更快（11.5% vs 7.4%），UNITED THERAPEUTICS Corp自由现金流更多（$173.3M vs $108.5M），过去两年Amneal Pharmaceuticals, Inc.的营收复合增速更高（11.1% vs 8.0%）
Amneal Pharmaceuticals是一家美国上市制药企业，核心业务涵盖仿制药及专科药物的研发、生产与分销，总部位于新泽西州布里奇沃特，是美国规模最大的仿制药生产商之一。
United Therapeutics是美国生物技术企业，专注开发包含异种移植在内的器官移植相关药物与技术，多款产品布局肺部疾病及器官制造赛道，双总部位于马里兰州银泉与北卡罗来纳州三角研究园，在美加多地设有研发及运营分支机构。
AMRX vs UTHR — 直观对比
营收规模更大
AMRX
是对方的1.0倍
$790.2M
营收增速更快
AMRX
高出4.1%
7.4%
净利率更高
UTHR
高出41.8%
4.3%
自由现金流更多
UTHR
多$64.8M
$108.5M
两年增速更快
AMRX
近两年复合增速
8.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $814.3M | $790.2M |
| 净利润 | $35.1M | $364.3M |
| 毛利率 | 36.5% | 86.9% |
| 营业利润率 | 13.8% | 45.1% |
| 净利率 | 4.3% | 46.1% |
| 营收同比 | 11.5% | 7.4% |
| 净利润同比 | 212.9% | 20.9% |
| 每股收益（稀释后） | $0.10 | $7.66 |
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AMRXUTHR
| Q4 25 | $814.3M | $790.2M | ||
| Q3 25 | $784.5M | $799.5M | ||
| Q2 25 | $724.5M | $798.6M | ||
| Q1 25 | $695.4M | $794.4M | ||
| Q4 24 | $730.5M | $735.9M | ||
| Q3 24 | $702.5M | $748.9M | ||
| Q2 24 | $701.8M | $714.9M | ||
| Q1 24 | $659.2M | $677.7M |
净利润AMRXUTHR
| Q4 25 | $35.1M | $364.3M | ||
| Q3 25 | $2.4M | $338.7M | ||
| Q2 25 | $22.4M | $309.5M | ||
| Q1 25 | $12.2M | $322.2M | ||
| Q4 24 | $-31.1M | $301.3M | ||
| Q3 24 | $-156.0K | $309.1M | ||
| Q2 24 | $6.0M | $278.1M | ||
| Q1 24 | $-91.6M | $306.6M |
毛利率AMRXUTHR
| Q4 25 | 36.5% | 86.9% | ||
| Q3 25 | 34.9% | 87.4% | ||
| Q2 25 | 39.5% | 89.0% | ||
| Q1 25 | 36.8% | 88.4% | ||
| Q4 24 | 36.0% | 89.7% | ||
| Q3 24 | 38.4% | 88.9% | ||
| Q2 24 | 35.6% | 89.1% | ||
| Q1 24 | 36.1% | 89.2% |
营业利润率AMRXUTHR
| Q4 25 | 13.8% | 45.1% | ||
| Q3 25 | 9.0% | 48.6% | ||
| Q2 25 | 15.4% | 45.6% | ||
| Q1 25 | 14.4% | 48.2% | ||
| Q4 24 | 10.4% | 48.6% | ||
| Q3 24 | 12.6% | 45.8% | ||
| Q2 24 | 13.6% | 44.7% | ||
| Q1 24 | -1.6% | 52.6% |
净利率AMRXUTHR
| Q4 25 | 4.3% | 46.1% | ||
| Q3 25 | 0.3% | 42.4% | ||
| Q2 25 | 3.1% | 38.8% | ||
| Q1 25 | 1.8% | 40.6% | ||
| Q4 24 | -4.3% | 40.9% | ||
| Q3 24 | -0.0% | 41.3% | ||
| Q2 24 | 0.9% | 38.9% | ||
| Q1 24 | -13.9% | 45.2% |
每股收益（稀释后）AMRXUTHR
| Q4 25 | $0.10 | $7.66 | ||
| Q3 25 | $0.01 | $7.16 | ||
| Q2 25 | $0.07 | $6.41 | ||
| Q1 25 | $0.04 | $6.63 | ||
| Q4 24 | $-0.10 | $6.23 | ||
| Q3 24 | $0.00 | $6.39 | ||
| Q2 24 | $0.02 | $5.85 | ||
| Q1 24 | $-0.30 | $6.17 |
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 | $282.0M | $2.9B |
| 总债务越低越好 | $2.6B | — |
| 股东权益账面价值 | $-70.8M | $7.1B |
| 总资产 | $3.7B | $7.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AMRXUTHR
| Q4 25 | $282.0M | $2.9B | ||
| Q3 25 | $201.2M | $2.8B | ||
| Q2 25 | $71.5M | $3.0B | ||
| Q1 25 | $59.2M | $3.3B | ||
| Q4 24 | $110.6M | $3.3B | ||
| Q3 24 | $74.0M | $3.3B | ||
| Q2 24 | $43.8M | $3.0B | ||
| Q1 24 | $46.5M | $2.7B |
总债务AMRXUTHR
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.4B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.4B | — |
股东权益AMRXUTHR
| Q4 25 | $-70.8M | $7.1B | ||
| Q3 25 | $-109.5M | $6.6B | ||
| Q2 25 | $-112.1M | $7.2B | ||
| Q1 25 | $-131.7M | $6.8B | ||
| Q4 24 | $-109.3M | $6.4B | ||
| Q3 24 | $-93.4M | $6.1B | ||
| Q2 24 | $-57.5M | $5.7B | ||
| Q1 24 | $-63.7M | $5.3B |
总资产AMRXUTHR
| Q4 25 | $3.7B | $7.9B | ||
| Q3 25 | $3.6B | $7.4B | ||
| Q2 25 | $3.4B | $7.9B | ||
| Q1 25 | $3.4B | $7.7B | ||
| Q4 24 | $3.5B | $7.4B | ||
| Q3 24 | $3.5B | $7.1B | ||
| Q2 24 | $3.5B | $6.7B | ||
| Q1 24 | $3.5B | $6.5B |
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 | $130.3M | $346.2M |
| 自由现金流经营现金流 - 资本支出 | $108.5M | $173.3M |
| 自由现金流率自由现金流/营收 | 13.3% | 21.9% |
| 资本支出强度资本支出/营收 | 2.7% | 21.9% |
| 现金转化率经营现金流/净利润 | 3.72× | 0.95× |
| 过去12个月自由现金流最近4个季度 | $269.9M | $1.0B |
8季度趋势，按日历期对齐
经营现金流AMRXUTHR
| Q4 25 | $130.3M | $346.2M | ||
| Q3 25 | $118.5M | $562.1M | ||
| Q2 25 | $83.8M | $191.7M | ||
| Q1 25 | $7.4M | $461.2M | ||
| Q4 24 | $118.1M | $341.2M | ||
| Q3 24 | $141.8M | $377.2M | ||
| Q2 24 | $39.7M | $232.2M | ||
| Q1 24 | $-4.4M | $376.5M |
自由现金流AMRXUTHR
| Q4 25 | $108.5M | $173.3M | ||
| Q3 25 | $106.2M | $351.6M | ||
| Q2 25 | $61.0M | $129.5M | ||
| Q1 25 | $-5.8M | $386.3M | ||
| Q4 24 | $102.9M | $254.5M | ||
| Q3 24 | $124.8M | $300.7M | ||
| Q2 24 | $29.0M | $187.1M | ||
| Q1 24 | $-13.6M | $338.3M |
自由现金流率AMRXUTHR
| Q4 25 | 13.3% | 21.9% | ||
| Q3 25 | 13.5% | 44.0% | ||
| Q2 25 | 8.4% | 16.2% | ||
| Q1 25 | -0.8% | 48.6% | ||
| Q4 24 | 14.1% | 34.6% | ||
| Q3 24 | 17.8% | 40.2% | ||
| Q2 24 | 4.1% | 26.2% | ||
| Q1 24 | -2.1% | 49.9% |
资本支出强度AMRXUTHR
| Q4 25 | 2.7% | 21.9% | ||
| Q3 25 | 1.6% | 26.3% | ||
| Q2 25 | 3.2% | 7.8% | ||
| Q1 25 | 1.9% | 9.4% | ||
| Q4 24 | 2.1% | 11.8% | ||
| Q3 24 | 2.4% | 10.2% | ||
| Q2 24 | 1.5% | 6.3% | ||
| Q1 24 | 1.4% | 5.6% |
现金转化率AMRXUTHR
| Q4 25 | 3.72× | 0.95× | ||
| Q3 25 | 50.00× | 1.66× | ||
| Q2 25 | 3.74× | 0.62× | ||
| Q1 25 | 0.61× | 1.43× | ||
| Q4 24 | — | 1.13× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | 6.62× | 0.83× | ||
| Q1 24 | — | 1.23× |
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
AMRX
| Oral Solid | $188.7M | 23% |
| Distribution Service | $107.7M | 13% |
| Central Nervous System | $104.8M | 13% |
| Government Label | $86.8M | 11% |
| Other Dosage Forms | $68.2M | 8% |
| Transdermal | $56.1M | 7% |
| Hormonal Allergy | $47.6M | 6% |
| Ephinephrine Auto Injector | $39.1M | 5% |
| Injectable | $37.4M | 5% |
| Other | $33.6M | 4% |
| Biosimilar | $29.4M | 4% |
| Selling General And Administrative Expenses | $14.9M | 2% |
UTHR
| Tyvaso DPI | $338.6M | 43% |
| Remodulin | $128.0M | 16% |
| Nebulized Tyvaso | $125.7M | 16% |
| Orenitram | $121.2M | 15% |
| Unituxin | $62.3M | 8% |
| Adcirca | $7.8M | 1% |
| Other | $6.6M | 1% |
