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博士伦健康（BHC）与Rocket Companies, Inc.（RKT）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Rocket Companies, Inc.的1.0倍（$2.8B vs $2.7B），Rocket Companies, Inc.净利率更高（2.5% vs -3.7%，领先6.2%），Rocket Companies, Inc.同比增速更快（52.2% vs 9.3%），博士伦健康自由现金流更多（$403.0M vs $-1.3B），过去两年Rocket Companies, Inc.的营收复合增速更高（39.5% 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。
Rocket Companies, Inc.是美国金融科技及住房服务企业，由丹·吉尔伯特创立，总部位于密歇根州底特律市中心。公司依托旗舰子公司Rocket Mortgage跻身美国最大抵押贷款提供商行列，旗下还拥有Redfin、Forsalebyowner.com、Rocket Money等子品牌。
BHC vs RKT — 直观对比
营收规模更大
BHC
是对方的1.0倍
$2.7B
营收增速更快
RKT
高出42.9%
9.3%
净利率更高
RKT
高出6.2%
-3.7%
自由现金流更多
BHC
多$1.7B
$-1.3B
两年增速更快
RKT
近两年复合增速
14.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $2.7B |
| 净利润 | $-103.0M | $68.0M |
| 毛利率 | — | — |
| 营业利润率 | 17.0% | 6.3% |
| 净利率 | -3.7% | 2.5% |
| 营收同比 | 9.3% | 52.2% |
| 净利润同比 | -205.1% | 100.8% |
| 每股收益（稀释后） | $-0.30 | $0.10 |
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BHCRKT
| Q4 25 | $2.8B | $2.7B | ||
| Q3 25 | $2.7B | $1.6B | ||
| Q2 25 | $2.5B | $1.4B | ||
| Q1 25 | $2.3B | $1.0B | ||
| Q4 24 | $2.6B | $1.8B | ||
| Q3 24 | $2.5B | $646.9M | ||
| Q2 24 | $2.4B | $1.3B | ||
| Q1 24 | $2.2B | $1.4B |
净利润BHCRKT
| Q4 25 | $-103.0M | $68.0M | ||
| Q3 25 | $179.0M | $-123.9M | ||
| Q2 25 | $148.0M | $-1.8M | ||
| Q1 25 | $-58.0M | $-10.4M | ||
| Q4 24 | $98.0M | $33.9M | ||
| Q3 24 | $-85.0M | $-22.0M | ||
| Q2 24 | $10.0M | $1.3M | ||
| Q1 24 | $-64.0M | $16.2M |
毛利率BHCRKT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 58.9% | ||
| Q3 24 | — | -8.4% | ||
| Q2 24 | — | 47.4% | ||
| Q1 24 | — | 51.2% |
营业利润率BHCRKT
| Q4 25 | 17.0% | 6.3% | ||
| Q3 25 | 23.1% | -11.5% | ||
| Q2 25 | 17.5% | 1.8% | ||
| Q1 25 | 12.2% | -21.5% | ||
| Q4 24 | 21.8% | 38.1% | ||
| Q3 24 | 12.7% | -76.9% | ||
| Q2 24 | 16.2% | 14.8% | ||
| Q1 24 | 13.1% | 21.6% |
净利率BHCRKT
| Q4 25 | -3.7% | 2.5% | ||
| Q3 25 | 6.7% | -7.7% | ||
| Q2 25 | 5.8% | -0.1% | ||
| Q1 25 | -2.6% | -1.0% | ||
| Q4 24 | 3.8% | 1.9% | ||
| Q3 24 | -3.4% | -3.4% | ||
| Q2 24 | 0.4% | 0.1% | ||
| Q1 24 | -3.0% | 1.2% |
每股收益（稀释后）BHCRKT
| Q4 25 | $-0.30 | $0.10 | ||
| Q3 25 | $0.48 | $-0.06 | ||
| Q2 25 | $0.40 | $-0.01 | ||
| Q1 25 | $-0.16 | $-0.08 | ||
| Q4 24 | $0.24 | $0.28 | ||
| Q3 24 | $-0.23 | $-0.19 | ||
| Q2 24 | $0.03 | $0.01 | ||
| Q1 24 | $-0.17 | $0.11 |
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 | $2.7B |
| 总债务越低越好 | $20.8B | — |
| 股东权益账面价值 | $-554.0M | $22.9B |
| 总资产 | $26.4B | $60.7B |
| 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BHCRKT
| Q4 25 | $1.3B | $2.7B | ||
| Q3 25 | $1.3B | $5.8B | ||
| Q2 25 | $1.7B | $5.1B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $719.0M | $1.2B | ||
| Q2 24 | $595.0M | $1.3B | ||
| Q1 24 | $733.0M | $861.4M |
总债务BHCRKT
| 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 | — | ||
| Q1 24 | $22.1B | — |
股东权益BHCRKT
| Q4 25 | $-554.0M | $22.9B | ||
| Q3 25 | $-565.0M | $8.9B | ||
| Q2 25 | $-764.0M | $7.4B | ||
| Q1 25 | $-1.2B | $8.6B | ||
| Q4 24 | $-1.3B | $9.0B | ||
| Q3 24 | $-1.2B | $8.4B | ||
| Q2 24 | $-1.2B | $8.8B | ||
| Q1 24 | $-1.1B | $8.6B |
总资产BHCRKT
| Q4 25 | $26.4B | $60.7B | ||
| Q3 25 | $26.8B | $33.6B | ||
| Q2 25 | $27.3B | $30.4B | ||
| Q1 25 | $26.4B | $25.3B | ||
| Q4 24 | $26.5B | $24.5B | ||
| Q3 24 | $26.5B | $25.1B | ||
| Q2 24 | $26.5B | $23.6B | ||
| Q1 24 | $26.9B | $22.2B |
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 | $-1.2B |
| 自由现金流经营现金流 - 资本支出 | $403.0M | $-1.3B |
| 自由现金流率自由现金流/营收 | 14.4% | -47.2% |
| 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 | — | -18.08× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $-4.0B |
8季度趋势，按日历期对齐
经营现金流BHCRKT
| Q4 25 | $495.0M | $-1.2B | ||
| Q3 25 | $405.0M | $-50.3M | ||
| Q2 25 | $289.0M | $-1.9B | ||
| Q1 25 | $211.0M | $-797.0M | ||
| Q4 24 | $601.0M | $1.8B | ||
| Q3 24 | $405.0M | $-1.3B | ||
| Q2 24 | $380.0M | $-122.3M | ||
| Q1 24 | $211.0M | $-3.0B |
自由现金流BHCRKT
| Q4 25 | $403.0M | $-1.3B | ||
| Q3 25 | $314.0M | $-71.8M | ||
| Q2 25 | $190.0M | $-1.9B | ||
| Q1 25 | $96.0M | $-811.0M | ||
| Q4 24 | $495.0M | $1.8B | ||
| Q3 24 | $334.0M | $-1.4B | ||
| Q2 24 | $302.0M | $-138.3M | ||
| Q1 24 | $129.0M | $-3.0B |
自由现金流率BHCRKT
| Q4 25 | 14.4% | -47.2% | ||
| Q3 25 | 11.7% | -4.5% | ||
| Q2 25 | 7.5% | -137.2% | ||
| Q1 25 | 4.2% | -78.2% | ||
| Q4 24 | 19.3% | 103.1% | ||
| Q3 24 | 13.3% | -209.6% | ||
| Q2 24 | 12.6% | -10.6% | ||
| Q1 24 | 6.0% | -218.7% |
资本支出强度BHCRKT
| Q4 25 | 3.3% | 1.5% | ||
| Q3 25 | 3.4% | 1.3% | ||
| Q2 25 | 3.9% | 1.1% | ||
| Q1 25 | 5.1% | 1.4% | ||
| Q4 24 | 4.1% | 1.1% | ||
| Q3 24 | 2.8% | 2.9% | ||
| Q2 24 | 3.2% | 1.2% | ||
| Q1 24 | 3.8% | 1.0% |
现金转化率BHCRKT
| Q4 25 | — | -18.08× | ||
| Q3 25 | 2.26× | — | ||
| Q2 25 | 1.95× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.13× | 54.42× | ||
| Q3 24 | — | — | ||
| Q2 24 | 38.00× | -94.46× | ||
| Q1 24 | — | -185.80× |
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% |
RKT
| Other | $1.4B | 51% |
| Direct To Customer Segment | $945.8M | 35% |
| Partner Network Segment | $216.7M | 8% |
| Subscription Revenue | $91.3M | 3% |
| Closing Fees | $47.1M | 2% |
| Appraisal Revenue | $10.7M | 0% |
