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碧迪（BDX）与梅西百货（M）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梅西百货的1.1倍（$5.3B vs $4.7B），碧迪净利率更高（7.3% vs 0.2%，领先7.0%），碧迪同比增速更快（-0.4% vs -0.6%），碧迪自由现金流更多（$549.0M vs $-101.0M），过去两年碧迪的营收复合增速更高（2.0% vs -23.8%）
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。
梅西百货是美国知名百货控股集团，1929年成立时名为联合百货，最初持有Abraham & Straus、Lazarus等多个区域连锁百货品牌，次年布鲁明戴尔正式加入。集团早年频繁开展资产并购与剥离，1994年收购1858年创立的老牌百货梅西，随后更名并发展为美国头部百货零售企业。
BDX vs M — 直观对比
营收规模更大
BDX
是对方的1.1倍
$4.7B
营收增速更快
BDX
高出0.2%
-0.6%
净利率更高
BDX
高出7.0%
0.2%
自由现金流更多
BDX
多$650.0M
$-101.0M
两年增速更快
BDX
近两年复合增速
-23.8%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $4.7B |
| 净利润 | $382.0M | $11.0M |
| 毛利率 | 45.9% | 39.4% |
| 营业利润率 | 10.5% | 0.9% |
| 净利率 | 7.3% | 0.2% |
| 营收同比 | -0.4% | -0.6% |
| 净利润同比 | 24.0% | -60.7% |
| 每股收益（稀释后） | $1.34 | $0.04 |
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BDXM
| Q4 25 | $5.3B | $4.7B | ||
| Q3 25 | $5.9B | $4.8B | ||
| Q2 25 | $5.5B | $4.6B | ||
| Q1 25 | $5.3B | $7.8B | ||
| Q4 24 | $5.2B | $4.7B | ||
| Q3 24 | $5.4B | $4.9B | ||
| Q2 24 | $5.0B | $4.8B | ||
| Q1 24 | $5.0B | $8.1B |
净利润BDXM
| Q4 25 | $382.0M | $11.0M | ||
| Q3 25 | $493.0M | $87.0M | ||
| Q2 25 | $574.0M | $38.0M | ||
| Q1 25 | $308.0M | $342.0M | ||
| Q4 24 | $303.0M | $28.0M | ||
| Q3 24 | $400.0M | $150.0M | ||
| Q2 24 | $487.0M | $62.0M | ||
| Q1 24 | $537.0M | $-71.0M |
毛利率BDXM
| Q4 25 | 45.9% | 39.4% | ||
| Q3 25 | 47.5% | 39.7% | ||
| Q2 25 | 47.8% | 39.2% | ||
| Q1 25 | 42.8% | 35.7% | ||
| Q4 24 | 43.2% | 39.6% | ||
| Q3 24 | 45.7% | 40.5% | ||
| Q2 24 | 46.2% | 39.2% | ||
| Q1 24 | 45.7% | 37.5% |
营业利润率BDXM
| Q4 25 | 10.5% | 0.9% | ||
| Q3 25 | 11.8% | 3.1% | ||
| Q2 25 | 16.0% | 2.0% | ||
| Q1 25 | 10.4% | 6.4% | ||
| Q4 24 | 8.8% | 1.3% | ||
| Q3 24 | 11.4% | 4.5% | ||
| Q2 24 | 12.1% | 2.6% | ||
| Q1 24 | 14.5% | -0.9% |
净利率BDXM
| Q4 25 | 7.3% | 0.2% | ||
| Q3 25 | 8.4% | 1.8% | ||
| Q2 25 | 10.4% | 0.8% | ||
| Q1 25 | 5.8% | 4.4% | ||
| Q4 24 | 5.9% | 0.6% | ||
| Q3 24 | 7.4% | 3.0% | ||
| Q2 24 | 9.8% | 1.3% | ||
| Q1 24 | 10.6% | -0.9% |
每股收益（稀释后）BDXM
| Q4 25 | $1.34 | $0.04 | ||
| Q3 25 | $1.71 | $0.31 | ||
| Q2 25 | $2.00 | $0.13 | ||
| Q1 25 | $1.07 | $1.22 | ||
| Q4 24 | $1.04 | $0.10 | ||
| Q3 24 | $1.37 | $0.53 | ||
| Q2 24 | $1.68 | $0.22 | ||
| Q1 24 | $1.85 | $-0.25 |
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 | $447.0M |
| 总债务越低越好 | — | $2.4B |
| 股东权益账面价值 | $25.3B | $4.3B |
| 总资产 | $54.8B | $17.1B |
| 负债/权益比越低杠杆越低 | — | 0.56× |
8季度趋势，按日历期对齐
现金及短期投资BDXM
| Q4 25 | $740.0M | $447.0M | ||
| Q3 25 | $641.0M | $829.0M | ||
| Q2 25 | $735.0M | $932.0M | ||
| Q1 25 | $667.0M | $1.3B | ||
| Q4 24 | $711.0M | $315.0M | ||
| Q3 24 | $1.7B | $646.0M | ||
| Q2 24 | $4.5B | $876.0M | ||
| Q1 24 | $2.3B | $1.0B |
总债务BDXM
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $3.0B |
股东权益BDXM
| Q4 25 | $25.3B | $4.3B | ||
| Q3 25 | $25.4B | $4.5B | ||
| Q2 25 | $25.5B | $4.5B | ||
| Q1 25 | $25.2B | $4.6B | ||
| Q4 24 | $25.2B | $4.1B | ||
| Q3 24 | $25.9B | $4.3B | ||
| Q2 24 | $25.9B | $4.2B | ||
| Q1 24 | $25.6B | $4.1B |
总资产BDXM
| Q4 25 | $54.8B | $17.1B | ||
| Q3 25 | $55.3B | $15.6B | ||
| Q2 25 | $54.9B | $16.1B | ||
| Q1 25 | $54.5B | $16.4B | ||
| Q4 24 | $54.7B | $17.3B | ||
| Q3 24 | $57.3B | $15.8B | ||
| Q2 24 | $55.6B | $16.4B | ||
| Q1 24 | $54.2B | $16.2B |
负债/权益比BDXM
| Q4 25 | — | 0.56× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.72× | ||
| Q1 24 | — | 0.72× |
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 | $-8.0M |
| 自由现金流经营现金流 - 资本支出 | $549.0M | $-101.0M |
| 自由现金流率自由现金流/营收 | 10.5% | -2.1% |
| 资本支出强度资本支出/营收 | 2.1% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.72× | -0.73× |
| 过去12个月自由现金流最近4个季度 | $2.6B | $1.2B |
8季度趋势，按日历期对齐
经营现金流BDXM
| Q4 25 | $657.0M | $-8.0M | ||
| Q3 25 | $1.4B | $319.0M | ||
| Q2 25 | $1.2B | $-64.0M | ||
| Q1 25 | $164.0M | $1.3B | ||
| Q4 24 | $693.0M | $-167.0M | ||
| Q3 24 | $1.2B | $8.0M | ||
| Q2 24 | $1.3B | $129.0M | ||
| Q1 24 | $514.0M | $1.1B |
自由现金流BDXM
| Q4 25 | $549.0M | $-101.0M | ||
| Q3 25 | $1.0B | $240.0M | ||
| Q2 25 | $1.0B | $-164.0M | ||
| Q1 25 | $35.0M | $1.2B | ||
| Q4 24 | $588.0M | $-295.0M | ||
| Q3 24 | $882.0M | $-109.0M | ||
| Q2 24 | $1.1B | $-25.0M | ||
| Q1 24 | $380.0M | $1.0B |
自由现金流率BDXM
| Q4 25 | 10.5% | -2.1% | ||
| Q3 25 | 17.0% | 5.0% | ||
| Q2 25 | 19.0% | -3.6% | ||
| Q1 25 | 0.7% | 15.3% | ||
| Q4 24 | 11.4% | -6.2% | ||
| Q3 24 | 16.2% | -2.2% | ||
| Q2 24 | 22.4% | -0.5% | ||
| Q1 24 | 7.5% | 12.3% |
资本支出强度BDXM
| Q4 25 | 2.1% | 2.0% | ||
| Q3 25 | 6.0% | 1.6% | ||
| Q2 25 | 3.2% | 2.2% | ||
| Q1 25 | 2.4% | 1.5% | ||
| Q4 24 | 2.0% | 2.7% | ||
| Q3 24 | 5.4% | 2.4% | ||
| Q2 24 | 3.6% | 3.2% | ||
| Q1 24 | 2.7% | 1.8% |
现金转化率BDXM
| Q4 25 | 1.72× | -0.73× | ||
| Q3 25 | 2.75× | 3.67× | ||
| Q2 25 | 2.12× | -1.68× | ||
| Q1 25 | 0.53× | 3.82× | ||
| Q4 24 | 2.29× | -5.96× | ||
| Q3 24 | 2.94× | 0.05× | ||
| Q2 24 | 2.66× | 2.08× | ||
| 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
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% |
M
| Womens Accessories Shoes Cosmetics And Fragrances | $1.9B | 41% |
| Womens Apparel | $1.1B | 23% |
| Mens And Kids | $1.0B | 22% |
| Home Other | $638.0M | 14% |
| Credit Card Revenues Net | $158.0M | 3% |
| Macys Media Network Revenue Net | $42.0M | 1% |
