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博士伦健康（BHC）与DoorDash（DASH）财务数据对比。点击上方公司名可切换其他公司
DoorDash的季度营收约是博士伦健康的1.4倍（$4.0B vs $2.8B），DoorDash净利率更高（7.1% vs -3.7%，领先10.7%），博士伦健康同比增速更快（9.3% vs 8.3%），博士伦健康自由现金流更多（$403.0M vs $355.0M），过去两年DoorDash的营收复合增速更高（23.9% vs 14.0%）
博士伦健康公司（Bausch Health）是一家业务多元化的北美跨国制药企业，全球总部位于加拿大魁北克省拉瓦尔，美国总部设在新泽西州布里奇沃特。公司专注于胃肠病、肝病、神经科、皮肤科、牙科、医疗美容等领域的药物研发、生产及销售，同时提供品牌药和仿制药产品，业务覆盖全球市场。
DoorDash是美国头部在线订餐及配送平台，也是美国规模最大的外卖配送服务商，占据当地外卖配送市场56%的份额，便民配送品类市场占比更是高达60%。截至2020年12月31日，平台合作商户超45万家，服务消费者超2000万，注册配送员数量突破100万。
BHC vs DASH — 直观对比
营收规模更大
DASH
是对方的1.4倍
$2.8B
营收增速更快
BHC
高出1.0%
8.3%
净利率更高
DASH
高出10.7%
-3.7%
自由现金流更多
BHC
多$48.0M
$355.0M
两年增速更快
DASH
近两年复合增速
14.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $4.0B |
| 净利润 | $-103.0M | $285.0M |
| 毛利率 | — | 39.8% |
| 营业利润率 | 17.0% | 3.7% |
| 净利率 | -3.7% | 7.1% |
| 营收同比 | 9.3% | 8.3% |
| 净利润同比 | -205.1% | 47.7% |
| 每股收益（稀释后） | $-0.30 | $0.42 |
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BHCDASH
| Q1 26 | — | $4.0B | ||
| Q4 25 | $2.8B | $4.0B | ||
| Q3 25 | $2.7B | $3.4B | ||
| Q2 25 | $2.5B | $3.3B | ||
| Q1 25 | $2.3B | $3.0B | ||
| Q4 24 | $2.6B | $2.9B | ||
| Q3 24 | $2.5B | $2.7B | ||
| Q2 24 | $2.4B | $2.6B |
净利润BHCDASH
| Q1 26 | — | $285.0M | ||
| Q4 25 | $-103.0M | $213.0M | ||
| Q3 25 | $179.0M | $244.0M | ||
| Q2 25 | $148.0M | $285.0M | ||
| Q1 25 | $-58.0M | $193.0M | ||
| Q4 24 | $98.0M | $141.0M | ||
| Q3 24 | $-85.0M | $162.0M | ||
| Q2 24 | $10.0M | $-157.0M |
毛利率BHCDASH
| Q1 26 | — | 39.8% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率BHCDASH
| Q1 26 | — | 3.7% | ||
| Q4 25 | 17.0% | 3.7% | ||
| Q3 25 | 23.1% | 7.5% | ||
| Q2 25 | 17.5% | 5.0% | ||
| Q1 25 | 12.2% | 5.1% | ||
| Q4 24 | 21.8% | 4.1% | ||
| Q3 24 | 12.7% | 4.0% | ||
| Q2 24 | 16.2% | -7.6% |
净利率BHCDASH
| Q1 26 | — | 7.1% | ||
| Q4 25 | -3.7% | 5.4% | ||
| Q3 25 | 6.7% | 7.1% | ||
| Q2 25 | 5.8% | 8.7% | ||
| Q1 25 | -2.6% | 6.4% | ||
| Q4 24 | 3.8% | 4.9% | ||
| Q3 24 | -3.4% | 6.0% | ||
| Q2 24 | 0.4% | -6.0% |
每股收益（稀释后）BHCDASH
| Q1 26 | — | $0.42 | ||
| Q4 25 | $-0.30 | $0.49 | ||
| Q3 25 | $0.48 | $0.55 | ||
| Q2 25 | $0.40 | $0.65 | ||
| Q1 25 | $-0.16 | $0.44 | ||
| Q4 24 | $0.24 | $0.35 | ||
| Q3 24 | $-0.23 | $0.38 | ||
| Q2 24 | $0.03 | $-0.38 |
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 | $1.3B | $5.5B |
| 总债务越低越好 | $20.8B | — |
| 股东权益账面价值 | $-554.0M | $10.2B |
| 总资产 | $26.4B | $19.7B |
| 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BHCDASH
| Q1 26 | — | $5.5B | ||
| Q4 25 | $1.3B | $4.4B | ||
| Q3 25 | $1.3B | $3.3B | ||
| Q2 25 | $1.7B | $3.9B | ||
| Q1 25 | $1.1B | $4.5B | ||
| Q4 24 | $1.2B | $4.0B | ||
| Q3 24 | $719.0M | $3.7B | ||
| Q2 24 | $595.0M | $3.4B |
总债务BHCDASH
| Q1 26 | — | — | ||
| Q4 25 | $20.8B | — | ||
| Q3 25 | $21.0B | — | ||
| Q2 25 | $21.7B | — | ||
| Q1 25 | $21.5B | — | ||
| Q4 24 | $21.6B | — | ||
| Q3 24 | $21.5B | — | ||
| Q2 24 | $21.7B | — |
股东权益BHCDASH
| Q1 26 | — | $10.2B | ||
| Q4 25 | $-554.0M | $10.0B | ||
| Q3 25 | $-565.0M | $9.5B | ||
| Q2 25 | $-764.0M | $8.9B | ||
| Q1 25 | $-1.2B | $8.4B | ||
| Q4 24 | $-1.3B | $7.8B | ||
| Q3 24 | $-1.2B | $7.6B | ||
| Q2 24 | $-1.2B | $7.2B |
总资产BHCDASH
| Q1 26 | — | $19.7B | ||
| Q4 25 | $26.4B | $19.7B | ||
| Q3 25 | $26.8B | $18.0B | ||
| Q2 25 | $27.3B | $16.9B | ||
| Q1 25 | $26.4B | $13.6B | ||
| Q4 24 | $26.5B | $12.8B | ||
| Q3 24 | $26.5B | $12.3B | ||
| Q2 24 | $26.5B | $11.8B |
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 | $495.0M | $504.0M |
| 自由现金流经营现金流 - 资本支出 | $403.0M | $355.0M |
| 自由现金流率自由现金流/营收 | 14.4% | 8.8% |
| 资本支出强度资本支出/营收 | 3.3% | — |
| 现金转化率经营现金流/净利润 | — | 1.77× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $2.0B |
8季度趋势，按日历期对齐
经营现金流BHCDASH
| Q1 26 | — | $504.0M | ||
| Q4 25 | $495.0M | $421.0M | ||
| Q3 25 | $405.0M | $871.0M | ||
| Q2 25 | $289.0M | $504.0M | ||
| Q1 25 | $211.0M | $635.0M | ||
| Q4 24 | $601.0M | $518.0M | ||
| Q3 24 | $405.0M | $531.0M | ||
| Q2 24 | $380.0M | $530.0M |
自由现金流BHCDASH
| Q1 26 | — | $355.0M | ||
| Q4 25 | $403.0M | $367.0M | ||
| Q3 25 | $314.0M | $808.0M | ||
| Q2 25 | $190.0M | $438.0M | ||
| Q1 25 | $96.0M | $561.0M | ||
| Q4 24 | $495.0M | $486.0M | ||
| Q3 24 | $334.0M | $499.0M | ||
| Q2 24 | $302.0M | $507.0M |
自由现金流率BHCDASH
| Q1 26 | — | 8.8% | ||
| Q4 25 | 14.4% | 9.3% | ||
| Q3 25 | 11.7% | 23.4% | ||
| Q2 25 | 7.5% | 13.3% | ||
| Q1 25 | 4.2% | 18.5% | ||
| Q4 24 | 19.3% | 16.9% | ||
| Q3 24 | 13.3% | 18.4% | ||
| Q2 24 | 12.6% | 19.3% |
资本支出强度BHCDASH
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 1.4% | ||
| Q3 25 | 3.4% | 1.8% | ||
| Q2 25 | 3.9% | 2.0% | ||
| Q1 25 | 5.1% | 2.4% | ||
| Q4 24 | 4.1% | 1.1% | ||
| Q3 24 | 2.8% | 1.2% | ||
| Q2 24 | 3.2% | 0.9% |
现金转化率BHCDASH
| Q1 26 | — | 1.77× | ||
| Q4 25 | — | 1.98× | ||
| Q3 25 | 2.26× | 3.57× | ||
| Q2 25 | 1.95× | 1.77× | ||
| Q1 25 | — | 3.29× | ||
| Q4 24 | 6.13× | 3.67× | ||
| Q3 24 | — | 3.28× | ||
| Q2 24 | 38.00× | — |
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
BHC
| Bausch Lomb | $1.4B | 50% |
| Salix Segment | $693.0M | 25% |
| International Rx | $306.0M | 11% |
| Diversified Segment | $255.0M | 9% |
| Solta Medical Segment | $137.0M | 5% |
DASH
暂无分部数据
