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博士伦健康（BHC）与PAR PACIFIC HOLDINGS, INC.（PARR）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PAR PACIFIC HOLDINGS, INC.的1.5倍（$2.8B vs $1.8B），PAR PACIFIC HOLDINGS, INC.净利率更高（4.3% vs -3.7%，领先8.0%），博士伦健康同比增速更快（9.3% vs -1.0%），博士伦健康自由现金流更多（$403.0M vs $66.3M），过去两年博士伦健康的营收复合增速更高（14.0% vs -4.3%）
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。
Par Pacific Holdings是总部位于美国休斯顿的油气勘探生产企业，曾在破产重组后以Par Petroleum Corporation为名运营，2015年10月20日正式更名为现名，2017年入选《财富》美国1000强企业。
BHC vs PARR — 直观对比
营收规模更大
BHC
是对方的1.5倍
$1.8B
营收增速更快
BHC
高出10.3%
-1.0%
净利率更高
PARR
高出8.0%
-3.7%
自由现金流更多
BHC
多$336.7M
$66.3M
两年增速更快
BHC
近两年复合增速
-4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.8B |
| 净利润 | $-103.0M | $77.7M |
| 毛利率 | — | — |
| 营业利润率 | 17.0% | 5.5% |
| 净利率 | -3.7% | 4.3% |
| 营收同比 | 9.3% | -1.0% |
| 净利润同比 | -205.1% | 239.5% |
| 每股收益（稀释后） | $-0.30 | $1.40 |
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BHCPARR
| Q4 25 | $2.8B | $1.8B | ||
| Q3 25 | $2.7B | $2.0B | ||
| Q2 25 | $2.5B | $1.9B | ||
| Q1 25 | $2.3B | $1.7B | ||
| Q4 24 | $2.6B | $1.8B | ||
| Q3 24 | $2.5B | $2.1B | ||
| Q2 24 | $2.4B | $2.0B | ||
| Q1 24 | $2.2B | $2.0B |
净利润BHCPARR
| Q4 25 | $-103.0M | $77.7M | ||
| Q3 25 | $179.0M | $262.6M | ||
| Q2 25 | $148.0M | $59.5M | ||
| Q1 25 | $-58.0M | $-30.4M | ||
| Q4 24 | $98.0M | $-55.7M | ||
| Q3 24 | $-85.0M | $7.5M | ||
| Q2 24 | $10.0M | $18.6M | ||
| Q1 24 | $-64.0M | $-3.8M |
营业利润率BHCPARR
| Q4 25 | 17.0% | 5.5% | ||
| Q3 25 | 23.1% | 17.8% | ||
| Q2 25 | 17.5% | 5.1% | ||
| Q1 25 | 12.2% | -0.9% | ||
| Q4 24 | 21.8% | -2.6% | ||
| Q3 24 | 12.7% | 1.7% | ||
| Q2 24 | 16.2% | 2.4% | ||
| Q1 24 | 13.1% | 0.5% |
净利率BHCPARR
| Q4 25 | -3.7% | 4.3% | ||
| Q3 25 | 6.7% | 13.0% | ||
| Q2 25 | 5.8% | 3.1% | ||
| Q1 25 | -2.6% | -1.7% | ||
| Q4 24 | 3.8% | -3.0% | ||
| Q3 24 | -3.4% | 0.3% | ||
| Q2 24 | 0.4% | 0.9% | ||
| Q1 24 | -3.0% | -0.2% |
每股收益（稀释后）BHCPARR
| Q4 25 | $-0.30 | $1.40 | ||
| Q3 25 | $0.48 | $5.16 | ||
| Q2 25 | $0.40 | $1.17 | ||
| Q1 25 | $-0.16 | $-0.57 | ||
| Q4 24 | $0.24 | $-0.98 | ||
| Q3 24 | $-0.23 | $0.13 | ||
| Q2 24 | $0.03 | $0.32 | ||
| Q1 24 | $-0.17 | $-0.06 |
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 | $164.1M |
| 总债务越低越好 | $20.8B | $802.9M |
| 股东权益账面价值 | $-554.0M | $1.5B |
| 总资产 | $26.4B | $3.8B |
| 负债/权益比越低杠杆越低 | — | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资BHCPARR
| Q4 25 | $1.3B | $164.1M | ||
| Q3 25 | $1.3B | $159.1M | ||
| Q2 25 | $1.7B | $169.2M | ||
| Q1 25 | $1.1B | $133.7M | ||
| Q4 24 | $1.2B | $191.9M | ||
| Q3 24 | $719.0M | $183.0M | ||
| Q2 24 | $595.0M | $179.7M | ||
| Q1 24 | $733.0M | $228.3M |
总债务BHCPARR
| Q4 25 | $20.8B | $802.9M | ||
| Q3 25 | $21.0B | $967.1M | ||
| Q2 25 | $21.7B | $1.1B | ||
| Q1 25 | $21.5B | $1.2B | ||
| Q4 24 | $21.6B | $1.1B | ||
| Q3 24 | $21.5B | $1.0B | ||
| Q2 24 | $21.7B | $1.1B | ||
| Q1 24 | $22.1B | $639.5M |
股东权益BHCPARR
| Q4 25 | $-554.0M | $1.5B | ||
| Q3 25 | $-565.0M | $1.4B | ||
| Q2 25 | $-764.0M | $1.1B | ||
| Q1 25 | $-1.2B | $1.1B | ||
| Q4 24 | $-1.3B | $1.2B | ||
| Q3 24 | $-1.2B | $1.3B | ||
| Q2 24 | $-1.2B | $1.3B | ||
| Q1 24 | $-1.1B | $1.3B |
总资产BHCPARR
| Q4 25 | $26.4B | $3.8B | ||
| Q3 25 | $26.8B | $4.1B | ||
| Q2 25 | $27.3B | $3.9B | ||
| Q1 25 | $26.4B | $3.8B | ||
| Q4 24 | $26.5B | $3.8B | ||
| Q3 24 | $26.5B | $3.9B | ||
| Q2 24 | $26.5B | $3.9B | ||
| Q1 24 | $26.9B | $3.8B |
负债/权益比BHCPARR
| Q4 25 | — | 0.53× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | 1.04× | ||
| Q4 24 | — | 0.93× | ||
| Q3 24 | — | 0.83× | ||
| Q2 24 | — | 0.84× | ||
| Q1 24 | — | 0.49× |
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 | $93.8M |
| 自由现金流经营现金流 - 资本支出 | $403.0M | $66.3M |
| 自由现金流率自由现金流/营收 | 14.4% | 3.7% |
| 资本支出强度资本支出/营收 | 3.3% | 1.5% |
| 现金转化率经营现金流/净利润 | — | 1.21× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $296.5M |
8季度趋势，按日历期对齐
经营现金流BHCPARR
| Q4 25 | $495.0M | $93.8M | ||
| Q3 25 | $405.0M | $219.4M | ||
| Q2 25 | $289.0M | $133.6M | ||
| Q1 25 | $211.0M | $-1.4M | ||
| Q4 24 | $601.0M | $-15.5M | ||
| Q3 24 | $405.0M | $78.5M | ||
| Q2 24 | $380.0M | $-4.7M | ||
| Q1 24 | $211.0M | $25.4M |
自由现金流BHCPARR
| Q4 25 | $403.0M | $66.3M | ||
| Q3 25 | $314.0M | $187.1M | ||
| Q2 25 | $190.0M | $85.5M | ||
| Q1 25 | $96.0M | $-42.3M | ||
| Q4 24 | $495.0M | $-63.1M | ||
| Q3 24 | $334.0M | $50.2M | ||
| Q2 24 | $302.0M | $-41.6M | ||
| Q1 24 | $129.0M | $2.8M |
自由现金流率BHCPARR
| Q4 25 | 14.4% | 3.7% | ||
| Q3 25 | 11.7% | 9.3% | ||
| Q2 25 | 7.5% | 4.5% | ||
| Q1 25 | 4.2% | -2.4% | ||
| Q4 24 | 19.3% | -3.4% | ||
| Q3 24 | 13.3% | 2.3% | ||
| Q2 24 | 12.6% | -2.1% | ||
| Q1 24 | 6.0% | 0.1% |
资本支出强度BHCPARR
| Q4 25 | 3.3% | 1.5% | ||
| Q3 25 | 3.4% | 1.6% | ||
| Q2 25 | 3.9% | 2.5% | ||
| Q1 25 | 5.1% | 2.3% | ||
| Q4 24 | 4.1% | 2.6% | ||
| Q3 24 | 2.8% | 1.3% | ||
| Q2 24 | 3.2% | 1.8% | ||
| Q1 24 | 3.8% | 1.1% |
现金转化率BHCPARR
| Q4 25 | — | 1.21× | ||
| Q3 25 | 2.26× | 0.84× | ||
| Q2 25 | 1.95× | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.13× | — | ||
| Q3 24 | — | 10.48× | ||
| Q2 24 | 38.00× | -0.25× | ||
| Q1 24 | — | — |
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% |
PARR
| Distillates | $750.6M | 41% |
| Gasoline | $603.9M | 33% |
| Other Refined Products | $348.8M | 19% |
| Logistics | $73.7M | 4% |
| Other Revenues | $44.8M | 2% |
