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碧迪（BDX）与威富集团（VFC）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威富集团的1.8倍（$5.3B vs $2.9B），威富集团净利率更高（10.5% vs 7.3%，领先3.2%），威富集团同比增速更快（1.5% vs -0.4%），威富集团自由现金流更多（$977.9M vs $549.0M），过去两年威富集团的营收复合增速更高（10.1% vs 2.0%）
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。
威富集团前身为F.W.伍尔沃斯公司，是全球知名零售企业，也是五分一角平价商店业态的先驱之一。作为美国乃至全球最成功的平价零售企业之一，它曾引领行业发展潮流，构建了如今全球各地门店普遍遵循的现代零售模式。
BDX vs VFC — 直观对比
营收规模更大
BDX
是对方的1.8倍
$2.9B
营收增速更快
VFC
高出1.9%
-0.4%
净利率更高
VFC
高出3.2%
7.3%
自由现金流更多
VFC
多$428.9M
$549.0M
两年增速更快
VFC
近两年复合增速
2.0%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $2.9B |
| 净利润 | $382.0M | $300.8M |
| 毛利率 | 45.9% | 56.6% |
| 营业利润率 | 10.5% | 10.1% |
| 净利率 | 7.3% | 10.5% |
| 营收同比 | -0.4% | 1.5% |
| 净利润同比 | 24.0% | 79.3% |
| 每股收益（稀释后） | $1.34 | $0.76 |
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BDXVFC
| Q4 25 | $5.3B | $2.9B | ||
| Q3 25 | $5.9B | $2.8B | ||
| Q2 25 | $5.5B | $1.8B | ||
| Q1 25 | $5.3B | $2.0B | ||
| Q4 24 | $5.2B | $2.8B | ||
| Q3 24 | $5.4B | $2.8B | ||
| Q2 24 | $5.0B | $1.9B | ||
| Q1 24 | $5.0B | $2.4B |
净利润BDXVFC
| Q4 25 | $382.0M | $300.8M | ||
| Q3 25 | $493.0M | $189.8M | ||
| Q2 25 | $574.0M | $-116.4M | ||
| Q1 25 | $308.0M | $-150.8M | ||
| Q4 24 | $303.0M | $167.8M | ||
| Q3 24 | $400.0M | $52.2M | ||
| Q2 24 | $487.0M | $-258.9M | ||
| Q1 24 | $537.0M | $-418.3M |
毛利率BDXVFC
| Q4 25 | 45.9% | 56.6% | ||
| Q3 25 | 47.5% | 52.2% | ||
| Q2 25 | 47.8% | 53.9% | ||
| Q1 25 | 42.8% | 52.7% | ||
| Q4 24 | 43.2% | 56.3% | ||
| Q3 24 | 45.7% | 52.2% | ||
| Q2 24 | 46.2% | 52.0% | ||
| Q1 24 | 45.7% | 48.4% |
营业利润率BDXVFC
| Q4 25 | 10.5% | 10.1% | ||
| Q3 25 | 11.8% | 11.2% | ||
| Q2 25 | 16.0% | -4.9% | ||
| Q1 25 | 10.4% | 2.2% | ||
| Q4 24 | 8.8% | 8.0% | ||
| Q3 24 | 11.4% | 9.9% | ||
| Q2 24 | 12.1% | -12.6% | ||
| Q1 24 | 14.5% | -15.0% |
净利率BDXVFC
| Q4 25 | 7.3% | 10.5% | ||
| Q3 25 | 8.4% | 6.8% | ||
| Q2 25 | 10.4% | -6.6% | ||
| Q1 25 | 5.8% | -7.5% | ||
| Q4 24 | 5.9% | 5.9% | ||
| Q3 24 | 7.4% | 1.9% | ||
| Q2 24 | 9.8% | -13.6% | ||
| Q1 24 | 10.6% | -17.6% |
每股收益（稀释后）BDXVFC
| Q4 25 | $1.34 | $0.76 | ||
| Q3 25 | $1.71 | $0.48 | ||
| Q2 25 | $2.00 | $-0.30 | ||
| Q1 25 | $1.07 | $-0.37 | ||
| Q4 24 | $1.04 | $0.43 | ||
| Q3 24 | $1.37 | $0.13 | ||
| Q2 24 | $1.68 | $-0.67 | ||
| Q1 24 | $1.85 | $-1.07 |
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 | $1.5B |
| 总债务越低越好 | — | $3.6B |
| 股东权益账面价值 | $25.3B | $1.8B |
| 总资产 | $54.8B | $10.4B |
| 负债/权益比越低杠杆越低 | — | 1.99× |
8季度趋势，按日历期对齐
现金及短期投资BDXVFC
| Q4 25 | $740.0M | $1.5B | ||
| Q3 25 | $641.0M | $419.1M | ||
| Q2 25 | $735.0M | $642.4M | ||
| Q1 25 | $667.0M | $429.4M | ||
| Q4 24 | $711.0M | $1.4B | ||
| Q3 24 | $1.7B | $492.2M | ||
| Q2 24 | $4.5B | $637.4M | ||
| Q1 24 | $2.3B | $674.6M |
总债务BDXVFC
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.6B | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | — | $3.9B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | — | $4.7B |
股东权益BDXVFC
| Q4 25 | $25.3B | $1.8B | ||
| Q3 25 | $25.4B | $1.5B | ||
| Q2 25 | $25.5B | $1.3B | ||
| Q1 25 | $25.2B | $1.5B | ||
| Q4 24 | $25.2B | $1.7B | ||
| Q3 24 | $25.9B | $1.4B | ||
| Q2 24 | $25.9B | $1.4B | ||
| Q1 24 | $25.6B | $1.7B |
总资产BDXVFC
| Q4 25 | $54.8B | $10.4B | ||
| Q3 25 | $55.3B | $10.6B | ||
| Q2 25 | $54.9B | $10.2B | ||
| Q1 25 | $54.5B | $9.4B | ||
| Q4 24 | $54.7B | $10.6B | ||
| Q3 24 | $57.3B | $12.2B | ||
| Q2 24 | $55.6B | $11.5B | ||
| Q1 24 | $54.2B | $11.6B |
负债/权益比BDXVFC
| Q4 25 | — | 1.99× | ||
| Q3 25 | — | 2.40× | ||
| Q2 25 | — | 2.76× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.86× | ||
| Q2 24 | — | 2.84× | ||
| Q1 24 | — | 2.84× |
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 | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $549.0M | $977.9M |
| 自由现金流率自由现金流/营收 | 10.5% | 34.0% |
| 资本支出强度资本支出/营收 | 2.1% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.72× | 3.36× |
| 过去12个月自由现金流最近4个季度 | $2.6B | $357.6M |
8季度趋势，按日历期对齐
经营现金流BDXVFC
| Q4 25 | $657.0M | $1.0B | ||
| Q3 25 | $1.4B | $-227.0M | ||
| Q2 25 | $1.2B | $-145.5M | ||
| Q1 25 | $164.0M | $-171.1M | ||
| Q4 24 | $693.0M | $918.1M | ||
| Q3 24 | $1.2B | $-301.6M | ||
| Q2 24 | $1.3B | $19.8M | ||
| Q1 24 | $514.0M | — |
自由现金流BDXVFC
| Q4 25 | $549.0M | $977.9M | ||
| Q3 25 | $1.0B | $-253.5M | ||
| Q2 25 | $1.0B | $-173.7M | ||
| Q1 25 | $35.0M | $-193.0M | ||
| Q4 24 | $588.0M | $899.7M | ||
| Q3 24 | $882.0M | $-322.4M | ||
| Q2 24 | $1.1B | $-5.4M | ||
| Q1 24 | $380.0M | — |
自由现金流率BDXVFC
| Q4 25 | 10.5% | 34.0% | ||
| Q3 25 | 17.0% | -9.0% | ||
| Q2 25 | 19.0% | -9.9% | ||
| Q1 25 | 0.7% | -9.6% | ||
| Q4 24 | 11.4% | 31.7% | ||
| Q3 24 | 16.2% | -11.7% | ||
| Q2 24 | 22.4% | -0.3% | ||
| Q1 24 | 7.5% | — |
资本支出强度BDXVFC
| Q4 25 | 2.1% | 1.1% | ||
| Q3 25 | 6.0% | 0.9% | ||
| Q2 25 | 3.2% | 1.6% | ||
| Q1 25 | 2.4% | 1.1% | ||
| Q4 24 | 2.0% | 0.6% | ||
| Q3 24 | 5.4% | 0.8% | ||
| Q2 24 | 3.6% | 1.3% | ||
| Q1 24 | 2.7% | — |
现金转化率BDXVFC
| Q4 25 | 1.72× | 3.36× | ||
| Q3 25 | 2.75× | -1.20× | ||
| Q2 25 | 2.12× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 2.29× | 5.47× | ||
| Q3 24 | 2.94× | -5.78× | ||
| Q2 24 | 2.66× | — | ||
| 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% |
VFC
| Outdoor | $1.9B | 67% |
| Sales Channel Through Intermediary | $813.4M | 28% |
| Other | $136.3M | 5% |
