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碧迪（BDX）与Kenvue（KVUE）财务数据对比。点击上方公司名可切换其他公司
碧迪的季度营收约是Kenvue的1.4倍（$5.3B vs $3.8B），Kenvue净利率更高（8.7% vs 7.3%，领先1.5%），Kenvue同比增速更快（3.2% vs -0.4%），Kenvue自由现金流更多（$744.0M vs $549.0M），过去两年碧迪的营收复合增速更高（2.0% vs -1.5%）
碧迪（Becton Dickinson）是美国跨国医疗科技企业，核心业务包括研发、生产及销售医用器械、仪器系统与试剂产品，同时在特定领域提供专业咨询及数据分析服务，业务覆盖全球多国，在全球医疗技术领域具备领先地位。
Kenvue是美国消费者健康企业，前身为强生集团消费者健康业务部门，旗下拥有邦迪、李施德林、露得清、泰诺、强生婴儿、仙特明等诸多知名消费健康品牌，总部现位于美国新泽西州萨米特。
BDX vs KVUE — 直观对比
营收规模更大
BDX
是对方的1.4倍
$3.8B
营收增速更快
KVUE
高出3.6%
-0.4%
净利率更高
KVUE
高出1.5%
7.3%
自由现金流更多
KVUE
多$195.0M
$549.0M
两年增速更快
BDX
近两年复合增速
-1.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $3.8B |
| 净利润 | $382.0M | $330.0M |
| 毛利率 | 45.9% | 56.5% |
| 营业利润率 | 10.5% | 14.2% |
| 净利率 | 7.3% | 8.7% |
| 营收同比 | -0.4% | 3.2% |
| 净利润同比 | 24.0% | 12.6% |
| 每股收益（稀释后） | $1.34 | $0.16 |
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BDXKVUE
| Q4 25 | $5.3B | $3.8B | ||
| Q3 25 | $5.9B | $3.8B | ||
| Q2 25 | $5.5B | $3.8B | ||
| Q1 25 | $5.3B | $3.7B | ||
| Q4 24 | $5.2B | $3.7B | ||
| Q3 24 | $5.4B | $3.9B | ||
| Q2 24 | $5.0B | $4.0B | ||
| Q1 24 | $5.0B | $3.9B |
净利润BDXKVUE
| Q4 25 | $382.0M | $330.0M | ||
| Q3 25 | $493.0M | $398.0M | ||
| Q2 25 | $574.0M | $420.0M | ||
| Q1 25 | $308.0M | $322.0M | ||
| Q4 24 | $303.0M | $293.0M | ||
| Q3 24 | $400.0M | $383.0M | ||
| Q2 24 | $487.0M | $58.0M | ||
| Q1 24 | $537.0M | $296.0M |
毛利率BDXKVUE
| Q4 25 | 45.9% | 56.5% | ||
| Q3 25 | 47.5% | 59.1% | ||
| Q2 25 | 47.8% | 58.9% | ||
| Q1 25 | 42.8% | 58.0% | ||
| Q4 24 | 43.2% | 56.5% | ||
| Q3 24 | 45.7% | 58.5% | ||
| Q2 24 | 46.2% | 59.1% | ||
| Q1 24 | 45.7% | 57.6% |
营业利润率BDXKVUE
| Q4 25 | 10.5% | 14.2% | ||
| Q3 25 | 11.8% | 16.7% | ||
| Q2 25 | 16.0% | 18.0% | ||
| Q1 25 | 10.4% | 14.9% | ||
| Q4 24 | 8.8% | 13.2% | ||
| Q3 24 | 11.4% | 16.8% | ||
| Q2 24 | 12.1% | 3.9% | ||
| Q1 24 | 14.5% | 14.1% |
净利率BDXKVUE
| Q4 25 | 7.3% | 8.7% | ||
| Q3 25 | 8.4% | 10.6% | ||
| Q2 25 | 10.4% | 10.9% | ||
| Q1 25 | 5.8% | 8.6% | ||
| Q4 24 | 5.9% | 8.0% | ||
| Q3 24 | 7.4% | 9.8% | ||
| Q2 24 | 9.8% | 1.5% | ||
| Q1 24 | 10.6% | 7.6% |
每股收益（稀释后）BDXKVUE
| Q4 25 | $1.34 | $0.16 | ||
| Q3 25 | $1.71 | $0.21 | ||
| Q2 25 | $2.00 | $0.22 | ||
| Q1 25 | $1.07 | $0.17 | ||
| Q4 24 | $1.04 | $0.16 | ||
| Q3 24 | $1.37 | $0.20 | ||
| Q2 24 | $1.68 | $0.03 | ||
| Q1 24 | $1.85 | $0.15 |
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 | $740.0M | $1.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $25.3B | $10.8B |
| 总资产 | $54.8B | $27.1B |
| 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BDXKVUE
| Q4 25 | $740.0M | $1.1B | ||
| Q3 25 | $641.0M | $1.1B | ||
| Q2 25 | $735.0M | $1.1B | ||
| Q1 25 | $667.0M | $1.1B | ||
| Q4 24 | $711.0M | $1.1B | ||
| Q3 24 | $1.7B | $1.1B | ||
| Q2 24 | $4.5B | $1.0B | ||
| Q1 24 | $2.3B | $1.2B |
股东权益BDXKVUE
| Q4 25 | $25.3B | $10.8B | ||
| Q3 25 | $25.4B | $10.6B | ||
| Q2 25 | $25.5B | $10.7B | ||
| Q1 25 | $25.2B | $10.1B | ||
| Q4 24 | $25.2B | $9.7B | ||
| Q3 24 | $25.9B | $10.6B | ||
| Q2 24 | $25.9B | $10.2B | ||
| Q1 24 | $25.6B | $10.6B |
总资产BDXKVUE
| Q4 25 | $54.8B | $27.1B | ||
| Q3 25 | $55.3B | $27.2B | ||
| Q2 25 | $54.9B | $27.1B | ||
| Q1 25 | $54.5B | $26.3B | ||
| Q4 24 | $54.7B | $25.6B | ||
| Q3 24 | $57.3B | $26.9B | ||
| Q2 24 | $55.6B | $26.4B | ||
| Q1 24 | $54.2B | $27.3B |
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 | $657.0M | $854.0M |
| 自由现金流经营现金流 - 资本支出 | $549.0M | $744.0M |
| 自由现金流率自由现金流/营收 | 10.5% | 19.7% |
| 资本支出强度资本支出/营收 | 2.1% | 2.9% |
| 现金转化率经营现金流/净利润 | 1.72× | 2.59× |
| 过去12个月自由现金流最近4个季度 | $2.6B | $1.7B |
8季度趋势，按日历期对齐
经营现金流BDXKVUE
| Q4 25 | $657.0M | $854.0M | ||
| Q3 25 | $1.4B | $294.0M | ||
| Q2 25 | $1.2B | $621.0M | ||
| Q1 25 | $164.0M | $428.0M | ||
| Q4 24 | $693.0M | $793.0M | ||
| Q3 24 | $1.2B | $249.0M | ||
| Q2 24 | $1.3B | $440.0M | ||
| Q1 24 | $514.0M | $287.0M |
自由现金流BDXKVUE
| Q4 25 | $549.0M | $744.0M | ||
| Q3 25 | $1.0B | $196.0M | ||
| Q2 25 | $1.0B | $533.0M | ||
| Q1 25 | $35.0M | $249.0M | ||
| Q4 24 | $588.0M | $661.0M | ||
| Q3 24 | $882.0M | $190.0M | ||
| Q2 24 | $1.1B | $350.0M | ||
| Q1 24 | $380.0M | $134.0M |
自由现金流率BDXKVUE
| Q4 25 | 10.5% | 19.7% | ||
| Q3 25 | 17.0% | 5.2% | ||
| Q2 25 | 19.0% | 13.9% | ||
| Q1 25 | 0.7% | 6.7% | ||
| Q4 24 | 11.4% | 18.1% | ||
| Q3 24 | 16.2% | 4.9% | ||
| Q2 24 | 22.4% | 8.8% | ||
| Q1 24 | 7.5% | 3.4% |
资本支出强度BDXKVUE
| Q4 25 | 2.1% | 2.9% | ||
| Q3 25 | 6.0% | 2.6% | ||
| Q2 25 | 3.2% | 2.3% | ||
| Q1 25 | 2.4% | 4.8% | ||
| Q4 24 | 2.0% | 3.6% | ||
| Q3 24 | 5.4% | 1.5% | ||
| Q2 24 | 3.6% | 2.3% | ||
| Q1 24 | 2.7% | 3.9% |
现金转化率BDXKVUE
| Q4 25 | 1.72× | 2.59× | ||
| Q3 25 | 2.75× | 0.74× | ||
| Q2 25 | 2.12× | 1.48× | ||
| Q1 25 | 0.53× | 1.33× | ||
| Q4 24 | 2.29× | 2.71× | ||
| Q3 24 | 2.94× | 0.65× | ||
| Q2 24 | 2.66× | 7.59× | ||
| Q1 24 | 0.96× | 0.97× |
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
BDX
| Other | $2.8B | 53% |
| Medication Management Solutions | $678.0M | 13% |
| Urologyand Critical Care | $339.0M | 6% |
| Surgery | $310.0M | 6% |
| Peripheral Intervention | $265.0M | 5% |
| Specimen Management | $245.0M | 5% |
| Advanced Patient Monitoring | $178.0M | 3% |
| Diagnostic Solutions | $176.0M | 3% |
| Bio Pharma Systems | $150.0M | 3% |
| Biosciences | $124.0M | 2% |
KVUE
| Self Care | $1.6B | 42% |
| Essential Health | $1.1B | 30% |
| Skin Health And Beauty | $1.0B | 28% |
