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博士伦健康（BHC）与怪兽饮料（MNST）财务数据对比。点击上方公司名可切换其他公司
博士伦健康的季度营收约是怪兽饮料的1.3倍（$2.8B vs $2.1B），怪兽饮料净利率更高（21.1% vs -3.7%，领先24.8%），怪兽饮料同比增速更快（17.6% vs 9.3%），博士伦健康自由现金流更多（$403.0M vs $351.2M），过去两年博士伦健康的营收复合增速更高（14.0% vs 5.9%）
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。
怪兽饮料是美国知名饮品企业，旗下拥有魔爪、Relentless、Reign、Burn等多款畅销能量饮料产品。公司1935年创立于美国南加州，前身为Hansen's，最初主营果汁产品，2012年正式更为现名。
BHC vs MNST — 直观对比
营收规模更大
BHC
是对方的1.3倍
$2.1B
营收增速更快
MNST
高出8.3%
9.3%
净利率更高
MNST
高出24.8%
-3.7%
自由现金流更多
BHC
多$51.8M
$351.2M
两年增速更快
BHC
近两年复合增速
5.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $2.1B |
| 净利润 | $-103.0M | $449.2M |
| 毛利率 | — | 55.5% |
| 营业利润率 | 17.0% | 25.5% |
| 净利率 | -3.7% | 21.1% |
| 营收同比 | 9.3% | 17.6% |
| 净利润同比 | -205.1% | 65.9% |
| 每股收益（稀释后） | $-0.30 | — |
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BHCMNST
| Q4 25 | $2.8B | $2.1B | ||
| Q3 25 | $2.7B | $2.2B | ||
| Q2 25 | $2.5B | $2.1B | ||
| Q1 25 | $2.3B | $1.9B | ||
| Q4 24 | $2.6B | $1.8B | ||
| Q3 24 | $2.5B | $1.9B | ||
| Q2 24 | $2.4B | $1.9B | ||
| Q1 24 | $2.2B | $1.9B |
净利润BHCMNST
| Q4 25 | $-103.0M | $449.2M | ||
| Q3 25 | $179.0M | $524.5M | ||
| Q2 25 | $148.0M | $488.8M | ||
| Q1 25 | $-58.0M | $443.0M | ||
| Q4 24 | $98.0M | $270.7M | ||
| Q3 24 | $-85.0M | $370.9M | ||
| Q2 24 | $10.0M | $425.4M | ||
| Q1 24 | $-64.0M | $442.0M |
毛利率BHCMNST
| Q4 25 | — | 55.5% | ||
| Q3 25 | — | 55.7% | ||
| Q2 25 | — | 55.7% | ||
| Q1 25 | — | 56.5% | ||
| Q4 24 | — | 55.3% | ||
| Q3 24 | — | 53.2% | ||
| Q2 24 | — | 53.6% | ||
| Q1 24 | — | 54.1% |
营业利润率BHCMNST
| Q4 25 | 17.0% | 25.5% | ||
| Q3 25 | 23.1% | 30.7% | ||
| Q2 25 | 17.5% | 29.9% | ||
| Q1 25 | 12.2% | 30.7% | ||
| Q4 24 | 21.8% | 21.0% | ||
| Q3 24 | 12.7% | 25.5% | ||
| Q2 24 | 16.2% | 27.7% | ||
| Q1 24 | 13.1% | 28.5% |
净利率BHCMNST
| Q4 25 | -3.7% | 21.1% | ||
| Q3 25 | 6.7% | 23.9% | ||
| Q2 25 | 5.8% | 23.1% | ||
| Q1 25 | -2.6% | 23.9% | ||
| Q4 24 | 3.8% | 14.9% | ||
| Q3 24 | -3.4% | 19.7% | ||
| Q2 24 | 0.4% | 22.4% | ||
| Q1 24 | -3.0% | 23.3% |
每股收益（稀释后）BHCMNST
| Q4 25 | $-0.30 | — | ||
| Q3 25 | $0.48 | — | ||
| Q2 25 | $0.40 | — | ||
| Q1 25 | $-0.16 | — | ||
| Q4 24 | $0.24 | — | ||
| Q3 24 | $-0.23 | — | ||
| Q2 24 | $0.03 | — | ||
| Q1 24 | $-0.17 | — |
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 | $1.3B | $2.8B |
| 总债务越低越好 | $20.8B | — |
| 股东权益账面价值 | $-554.0M | $8.3B |
| 总资产 | $26.4B | $10.0B |
| 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BHCMNST
| Q4 25 | $1.3B | $2.8B | ||
| Q3 25 | $1.3B | $2.6B | ||
| Q2 25 | $1.7B | $2.1B | ||
| Q1 25 | $1.1B | $1.9B | ||
| Q4 24 | $1.2B | $1.5B | ||
| Q3 24 | $719.0M | $1.6B | ||
| Q2 24 | $595.0M | $1.6B | ||
| Q1 24 | $733.0M | $3.6B |
总债务BHCMNST
| Q4 25 | $20.8B | — | ||
| Q3 25 | $21.0B | — | ||
| Q2 25 | $21.7B | — | ||
| Q1 25 | $21.5B | $199.1M | ||
| Q4 24 | $21.6B | $374.0M | ||
| Q3 24 | $21.5B | $748.8M | ||
| Q2 24 | $21.7B | $748.7M | ||
| Q1 24 | $22.1B | — |
股东权益BHCMNST
| Q4 25 | $-554.0M | $8.3B | ||
| Q3 25 | $-565.0M | $7.7B | ||
| Q2 25 | $-764.0M | $7.2B | ||
| Q1 25 | $-1.2B | $6.5B | ||
| Q4 24 | $-1.3B | $6.0B | ||
| Q3 24 | $-1.2B | $5.8B | ||
| Q2 24 | $-1.2B | $5.9B | ||
| Q1 24 | $-1.1B | $8.6B |
总资产BHCMNST
| Q4 25 | $26.4B | $10.0B | ||
| Q3 25 | $26.8B | $9.6B | ||
| Q2 25 | $27.3B | $8.7B | ||
| Q1 25 | $26.4B | $8.2B | ||
| Q4 24 | $26.5B | $7.7B | ||
| Q3 24 | $26.5B | $8.1B | ||
| Q2 24 | $26.5B | $8.1B | ||
| Q1 24 | $26.9B | $10.1B |
负债/权益比BHCMNST
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.03× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.13× | ||
| Q1 24 | — | — |
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 | $379.4M |
| 自由现金流经营现金流 - 资本支出 | $403.0M | $351.2M |
| 自由现金流率自由现金流/营收 | 14.4% | 16.5% |
| 资本支出强度资本支出/营收 | 3.3% | 1.3% |
| 现金转化率经营现金流/净利润 | — | 0.84× |
| 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BHCMNST
| Q4 25 | $495.0M | $379.4M | ||
| Q3 25 | $405.0M | $745.1M | ||
| Q2 25 | $289.0M | $466.0M | ||
| Q1 25 | $211.0M | $507.6M | ||
| Q4 24 | $601.0M | $461.7M | ||
| Q3 24 | $405.0M | $618.4M | ||
| Q2 24 | $380.0M | $436.3M | ||
| Q1 24 | $211.0M | $412.1M |
自由现金流BHCMNST
| Q4 25 | $403.0M | $351.2M | ||
| Q3 25 | $314.0M | $701.5M | ||
| Q2 25 | $190.0M | $434.6M | ||
| Q1 25 | $96.0M | $478.5M | ||
| Q4 24 | $495.0M | $370.4M | ||
| Q3 24 | $334.0M | $571.4M | ||
| Q2 24 | $302.0M | $376.5M | ||
| Q1 24 | $129.0M | $346.1M |
自由现金流率BHCMNST
| Q4 25 | 14.4% | 16.5% | ||
| Q3 25 | 11.7% | 31.9% | ||
| Q2 25 | 7.5% | 20.6% | ||
| Q1 25 | 4.2% | 25.8% | ||
| Q4 24 | 19.3% | 20.4% | ||
| Q3 24 | 13.3% | 30.4% | ||
| Q2 24 | 12.6% | 19.8% | ||
| Q1 24 | 6.0% | 18.2% |
资本支出强度BHCMNST
| Q4 25 | 3.3% | 1.3% | ||
| Q3 25 | 3.4% | 2.0% | ||
| Q2 25 | 3.9% | 1.5% | ||
| Q1 25 | 5.1% | 1.6% | ||
| Q4 24 | 4.1% | 5.0% | ||
| Q3 24 | 2.8% | 2.5% | ||
| Q2 24 | 3.2% | 3.1% | ||
| Q1 24 | 3.8% | 3.5% |
现金转化率BHCMNST
| Q4 25 | — | 0.84× | ||
| Q3 25 | 2.26× | 1.42× | ||
| Q2 25 | 1.95× | 0.95× | ||
| Q1 25 | — | 1.15× | ||
| Q4 24 | 6.13× | 1.71× | ||
| Q3 24 | — | 1.67× | ||
| Q2 24 | 38.00× | 1.03× | ||
| Q1 24 | — | 0.93× |
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% |
MNST
| Monster Energy Drinks Segment | $1.2B | 57% |
| Sales Revenue Product Line | $905.5M | 42% |
| Strategic Brands Segment | $50.3M | 2% |
| Alcohol Brands Segment | $29.0M | 1% |
