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博士伦健康（BHC）与Packaging Corporation of America（PKG）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Packaging Corporation of America的1.2倍（$2.8B vs $2.4B），Packaging Corporation of America净利率更高（7.2% vs -3.7%，领先10.9%），Packaging Corporation of America同比增速更快（10.6% vs 9.3%），过去两年博士伦健康的营收复合增速更高（14.0% vs 6.8%）
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。
Packaging Corporation of America是总部位于美国伊利诺伊州莱克福里斯特的制造企业，业务主要布局于美国本土，当前拥有约15500名员工，首席执行官为Mark W. Kowlzan。
BHC vs PKG — 直观对比
营收规模更大
BHC
是对方的1.2倍
$2.4B
营收增速更快
PKG
高出1.3%
9.3%
净利率更高
PKG
高出10.9%
-3.7%
两年增速更快
BHC
近两年复合增速
6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $2.4B |
| 净利润 | $-103.0M | $170.9M |
| 毛利率 | — | 19.1% |
| 营业利润率 | 17.0% | 10.6% |
| 净利率 | -3.7% | 7.2% |
| 营收同比 | 9.3% | 10.6% |
| 净利润同比 | -205.1% | -16.1% |
| 每股收益（稀释后） | $-0.30 | $1.91 |
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BHCPKG
| Q1 26 | — | $2.4B | ||
| Q4 25 | $2.8B | $2.4B | ||
| Q3 25 | $2.7B | $2.3B | ||
| Q2 25 | $2.5B | $2.2B | ||
| Q1 25 | $2.3B | $2.1B | ||
| Q4 24 | $2.6B | $2.1B | ||
| Q3 24 | $2.5B | $2.2B | ||
| Q2 24 | $2.4B | $2.1B |
净利润BHCPKG
| Q1 26 | — | $170.9M | ||
| Q4 25 | $-103.0M | $101.9M | ||
| Q3 25 | $179.0M | $226.9M | ||
| Q2 25 | $148.0M | $241.5M | ||
| Q1 25 | $-58.0M | $203.8M | ||
| Q4 24 | $98.0M | $221.2M | ||
| Q3 24 | $-85.0M | $238.1M | ||
| Q2 24 | $10.0M | $198.9M |
毛利率BHCPKG
| Q1 26 | — | 19.1% | ||
| Q4 25 | — | 18.9% | ||
| Q3 25 | — | 21.8% | ||
| Q2 25 | — | 22.2% | ||
| Q1 25 | — | 21.2% | ||
| Q4 24 | — | 21.9% | ||
| Q3 24 | — | 23.1% | ||
| Q2 24 | — | 21.1% |
营业利润率BHCPKG
| Q1 26 | — | 10.6% | ||
| Q4 25 | 17.0% | 7.1% | ||
| Q3 25 | 23.1% | 14.0% | ||
| Q2 25 | 17.5% | 15.4% | ||
| Q1 25 | 12.2% | 13.1% | ||
| Q4 24 | 21.8% | 14.1% | ||
| Q3 24 | 12.7% | 15.0% | ||
| Q2 24 | 16.2% | 13.3% |
净利率BHCPKG
| Q1 26 | — | 7.2% | ||
| Q4 25 | -3.7% | 4.3% | ||
| Q3 25 | 6.7% | 9.8% | ||
| Q2 25 | 5.8% | 11.1% | ||
| Q1 25 | -2.6% | 9.5% | ||
| Q4 24 | 3.8% | 10.3% | ||
| Q3 24 | -3.4% | 10.9% | ||
| Q2 24 | 0.4% | 9.6% |
每股收益（稀释后）BHCPKG
| Q1 26 | — | $1.91 | ||
| Q4 25 | $-0.30 | $1.14 | ||
| Q3 25 | $0.48 | $2.51 | ||
| Q2 25 | $0.40 | $2.67 | ||
| Q1 25 | $-0.16 | $2.26 | ||
| Q4 24 | $0.24 | $2.45 | ||
| Q3 24 | $-0.23 | $2.64 | ||
| Q2 24 | $0.03 | $2.21 |
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 | — |
| 总债务越低越好 | $20.8B | — |
| 股东权益账面价值 | $-554.0M | — |
| 总资产 | $26.4B | — |
| 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BHCPKG
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $529.0M | ||
| Q3 25 | $1.3B | $634.0M | ||
| Q2 25 | $1.7B | $787.9M | ||
| Q1 25 | $1.1B | $751.7M | ||
| Q4 24 | $1.2B | $685.0M | ||
| Q3 24 | $719.0M | $676.6M | ||
| Q2 24 | $595.0M | $613.6M |
总债务BHCPKG
| Q1 26 | — | — | ||
| Q4 25 | $20.8B | $4.0B | ||
| Q3 25 | $21.0B | $4.0B | ||
| Q2 25 | $21.7B | — | ||
| Q1 25 | $21.5B | — | ||
| Q4 24 | $21.6B | $2.5B | ||
| Q3 24 | $21.5B | $2.5B | ||
| Q2 24 | $21.7B | — |
股东权益BHCPKG
| Q1 26 | — | — | ||
| Q4 25 | $-554.0M | $4.6B | ||
| Q3 25 | $-565.0M | $4.8B | ||
| Q2 25 | $-764.0M | $4.6B | ||
| Q1 25 | $-1.2B | $4.5B | ||
| Q4 24 | $-1.3B | $4.4B | ||
| Q3 24 | $-1.2B | $4.3B | ||
| Q2 24 | $-1.2B | $4.1B |
总资产BHCPKG
| Q1 26 | — | — | ||
| Q4 25 | $26.4B | $10.7B | ||
| Q3 25 | $26.8B | $11.0B | ||
| Q2 25 | $27.3B | $9.0B | ||
| Q1 25 | $26.4B | $9.0B | ||
| Q4 24 | $26.5B | $8.8B | ||
| Q3 24 | $26.5B | $8.8B | ||
| Q2 24 | $26.5B | $9.0B |
负债/权益比BHCPKG
| Q1 26 | — | — | ||
| Q4 25 | — | 0.87× | ||
| Q3 25 | — | 0.84× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.57× | ||
| Q3 24 | — | 0.58× | ||
| Q2 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 | — |
| 自由现金流经营现金流 - 资本支出 | $403.0M | — |
| 自由现金流率自由现金流/营收 | 14.4% | — |
| 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 | — | — |
| 过去12个月自由现金流最近4个季度 | $1.0B | — |
8季度趋势，按日历期对齐
经营现金流BHCPKG
| Q1 26 | — | — | ||
| Q4 25 | $495.0M | $446.6M | ||
| Q3 25 | $405.0M | $472.2M | ||
| Q2 25 | $289.0M | $299.6M | ||
| Q1 25 | $211.0M | $339.1M | ||
| Q4 24 | $601.0M | $325.4M | ||
| Q3 24 | $405.0M | $327.1M | ||
| Q2 24 | $380.0M | $278.3M |
自由现金流BHCPKG
| Q1 26 | — | — | ||
| Q4 25 | $403.0M | $127.6M | ||
| Q3 25 | $314.0M | $280.1M | ||
| Q2 25 | $190.0M | $129.9M | ||
| Q1 25 | $96.0M | $191.0M | ||
| Q4 24 | $495.0M | $124.1M | ||
| Q3 24 | $334.0M | $180.4M | ||
| Q2 24 | $302.0M | $33.3M |
自由现金流率BHCPKG
| Q1 26 | — | — | ||
| Q4 25 | 14.4% | 5.4% | ||
| Q3 25 | 11.7% | 12.1% | ||
| Q2 25 | 7.5% | 6.0% | ||
| Q1 25 | 4.2% | 8.9% | ||
| Q4 24 | 19.3% | 5.8% | ||
| Q3 24 | 13.3% | 8.3% | ||
| Q2 24 | 12.6% | 1.6% |
资本支出强度BHCPKG
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 13.5% | ||
| Q3 25 | 3.4% | 8.3% | ||
| Q2 25 | 3.9% | 7.8% | ||
| Q1 25 | 5.1% | 6.9% | ||
| Q4 24 | 4.1% | 9.4% | ||
| Q3 24 | 2.8% | 6.7% | ||
| Q2 24 | 3.2% | 11.8% |
现金转化率BHCPKG
| Q1 26 | — | — | ||
| Q4 25 | — | 4.38× | ||
| Q3 25 | 2.26× | 2.08× | ||
| Q2 25 | 1.95× | 1.24× | ||
| Q1 25 | — | 1.66× | ||
| Q4 24 | 6.13× | 1.47× | ||
| Q3 24 | — | 1.37× | ||
| Q2 24 | 38.00× | 1.40× |
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% |
PKG
暂无分部数据
