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博士伦健康（BHC）与罗布乐思（RBLX）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罗布乐思的2.0倍（$2.8B vs $1.4B），博士伦健康净利率更高（-3.7% vs -22.3%，领先18.6%），罗布乐思同比增速更快（43.2% vs 9.3%），博士伦健康自由现金流更多（$403.0M vs $308.6M），过去两年罗布乐思的营收复合增速更高（32.9% 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。
罗布乐思（Roblox Corporation）是总部位于美国加利福尼亚州圣马特奥的游戏企业，由大卫·巴斯祖奇与埃里克·卡塞尔于2004年共同创立。公司核心产品为同名线上游戏创作平台Roblox，于2006年正式上线，截至2024年12月底全球员工规模已超2400人。
BHC vs RBLX — 直观对比
营收规模更大
BHC
是对方的2.0倍
$1.4B
营收增速更快
RBLX
高出33.9%
9.3%
净利率更高
BHC
高出18.6%
-22.3%
自由现金流更多
BHC
多$94.4M
$308.6M
两年增速更快
RBLX
近两年复合增速
14.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.4B |
| 净利润 | $-103.0M | $-316.0M |
| 毛利率 | — | 77.7% |
| 营业利润率 | 17.0% | -25.3% |
| 净利率 | -3.7% | -22.3% |
| 营收同比 | 9.3% | 43.2% |
| 净利润同比 | -205.1% | -43.9% |
| 每股收益（稀释后） | $-0.30 | $-0.44 |
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BHCRBLX
| Q4 25 | $2.8B | $1.4B | ||
| Q3 25 | $2.7B | $1.4B | ||
| Q2 25 | $2.5B | $1.1B | ||
| Q1 25 | $2.3B | $1.0B | ||
| Q4 24 | $2.6B | $988.2M | ||
| Q3 24 | $2.5B | $919.0M | ||
| Q2 24 | $2.4B | $893.5M | ||
| Q1 24 | $2.2B | $801.3M |
净利润BHCRBLX
| Q4 25 | $-103.0M | $-316.0M | ||
| Q3 25 | $179.0M | $-255.6M | ||
| Q2 25 | $148.0M | $-278.4M | ||
| Q1 25 | $-58.0M | $-215.1M | ||
| Q4 24 | $98.0M | $-219.6M | ||
| Q3 24 | $-85.0M | $-239.3M | ||
| Q2 24 | $10.0M | $-205.9M | ||
| Q1 24 | $-64.0M | $-270.6M |
毛利率BHCRBLX
| Q4 25 | — | 77.7% | ||
| Q3 25 | — | 78.2% | ||
| Q2 25 | — | 78.2% | ||
| Q1 25 | — | 78.3% | ||
| Q4 24 | — | 77.9% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | — | 77.8% | ||
| Q1 24 | — | 77.7% |
营业利润率BHCRBLX
| Q4 25 | 17.0% | -25.3% | ||
| Q3 25 | 23.1% | -21.8% | ||
| Q2 25 | 17.5% | -29.8% | ||
| Q1 25 | 12.2% | -24.6% | ||
| Q4 24 | 21.8% | -24.7% | ||
| Q3 24 | 12.7% | -30.4% | ||
| Q2 24 | 16.2% | -26.6% | ||
| Q1 24 | 13.1% | -37.7% |
净利率BHCRBLX
| Q4 25 | -3.7% | -22.3% | ||
| Q3 25 | 6.7% | -18.8% | ||
| Q2 25 | 5.8% | -25.8% | ||
| Q1 25 | -2.6% | -20.8% | ||
| Q4 24 | 3.8% | -22.2% | ||
| Q3 24 | -3.4% | -26.0% | ||
| Q2 24 | 0.4% | -23.0% | ||
| Q1 24 | -3.0% | -33.8% |
每股收益（稀释后）BHCRBLX
| Q4 25 | $-0.30 | $-0.44 | ||
| Q3 25 | $0.48 | $-0.37 | ||
| Q2 25 | $0.40 | $-0.41 | ||
| Q1 25 | $-0.16 | $-0.32 | ||
| Q4 24 | $0.24 | $-0.32 | ||
| Q3 24 | $-0.23 | $-0.37 | ||
| Q2 24 | $0.03 | $-0.32 | ||
| Q1 24 | $-0.17 | $-0.43 |
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 | $3.1B |
| 总债务越低越好 | $20.8B | $1.2B |
| 股东权益账面价值 | $-554.0M | $394.5M |
| 总资产 | $26.4B | $9.6B |
| 负债/权益比越低杠杆越低 | — | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资BHCRBLX
| Q4 25 | $1.3B | $3.1B | ||
| Q3 25 | $1.3B | $2.9B | ||
| Q2 25 | $1.7B | $2.6B | ||
| Q1 25 | $1.1B | $2.7B | ||
| Q4 24 | $1.2B | $2.4B | ||
| Q3 24 | $719.0M | $2.3B | ||
| Q2 24 | $595.0M | $2.4B | ||
| Q1 24 | $733.0M | $2.4B |
总债务BHCRBLX
| Q4 25 | $20.8B | $1.2B | ||
| Q3 25 | $21.0B | — | ||
| Q2 25 | $21.7B | — | ||
| Q1 25 | $21.5B | — | ||
| Q4 24 | $21.6B | $1.2B | ||
| Q3 24 | $21.5B | — | ||
| Q2 24 | $21.7B | — | ||
| Q1 24 | $22.1B | — |
股东权益BHCRBLX
| Q4 25 | $-554.0M | $394.5M | ||
| Q3 25 | $-565.0M | $407.6M | ||
| Q2 25 | $-764.0M | $353.2M | ||
| Q1 25 | $-1.2B | $310.7M | ||
| Q4 24 | $-1.3B | $221.4M | ||
| Q3 24 | $-1.2B | $189.9M | ||
| Q2 24 | $-1.2B | $121.5M | ||
| Q1 24 | $-1.1B | $71.6M |
总资产BHCRBLX
| Q4 25 | $26.4B | $9.6B | ||
| Q3 25 | $26.8B | $8.6B | ||
| Q2 25 | $27.3B | $7.8B | ||
| Q1 25 | $26.4B | $7.5B | ||
| Q4 24 | $26.5B | $7.2B | ||
| Q3 24 | $26.5B | $6.7B | ||
| Q2 24 | $26.5B | $6.5B | ||
| Q1 24 | $26.9B | $6.3B |
负债/权益比BHCRBLX
| Q4 25 | — | 2.98× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.48× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $403.0M | $308.6M |
| 自由现金流率自由现金流/营收 | 14.4% | 21.8% |
| 资本支出强度资本支出/营收 | 3.3% | 21.1% |
| 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 | $1.4B |
8季度趋势，按日历期对齐
经营现金流BHCRBLX
| Q4 25 | $495.0M | $607.0M | ||
| Q3 25 | $405.0M | $546.2M | ||
| Q2 25 | $289.0M | $199.3M | ||
| Q1 25 | $211.0M | $443.9M | ||
| Q4 24 | $601.0M | $184.5M | ||
| Q3 24 | $405.0M | $247.4M | ||
| Q2 24 | $380.0M | $151.4M | ||
| Q1 24 | $211.0M | $238.9M |
自由现金流BHCRBLX
| Q4 25 | $403.0M | $308.6M | ||
| Q3 25 | $314.0M | $443.6M | ||
| Q2 25 | $190.0M | $176.7M | ||
| Q1 25 | $96.0M | $426.5M | ||
| Q4 24 | $495.0M | $120.6M | ||
| Q3 24 | $334.0M | $218.0M | ||
| Q2 24 | $302.0M | $111.7M | ||
| Q1 24 | $129.0M | $192.3M |
自由现金流率BHCRBLX
| Q4 25 | 14.4% | 21.8% | ||
| Q3 25 | 11.7% | 32.6% | ||
| Q2 25 | 7.5% | 16.3% | ||
| Q1 25 | 4.2% | 41.2% | ||
| Q4 24 | 19.3% | 12.2% | ||
| Q3 24 | 13.3% | 23.7% | ||
| Q2 24 | 12.6% | 12.5% | ||
| Q1 24 | 6.0% | 24.0% |
资本支出强度BHCRBLX
| Q4 25 | 3.3% | 21.1% | ||
| Q3 25 | 3.4% | 7.5% | ||
| Q2 25 | 3.9% | 2.1% | ||
| Q1 25 | 5.1% | 1.7% | ||
| Q4 24 | 4.1% | 6.5% | ||
| Q3 24 | 2.8% | 3.2% | ||
| Q2 24 | 3.2% | 4.4% | ||
| Q1 24 | 3.8% | 5.8% |
现金转化率BHCRBLX
| Q4 25 | — | — | ||
| Q3 25 | 2.26× | — | ||
| Q2 25 | 1.95× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.13× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 38.00× | — | ||
| 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% |
RBLX
暂无分部数据
