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博士伦健康（BHC）与RENAISSANCERE HOLDINGS LTD（RNR）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RENAISSANCERE HOLDINGS LTD的1.3倍（$2.8B vs $2.2B），RENAISSANCERE HOLDINGS LTD净利率更高（23.5% vs -3.7%，领先27.2%），博士伦健康同比增速更快（9.3% vs -36.8%），过去两年博士伦健康的营收复合增速更高（14.0% vs -11.9%）
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。
RenaissanceRe Holdings Ltd是总部位于百慕大的保险及相关商业服务提供商，核心业务覆盖再保险、常规保险两大板块，同时运营风险相关创新投资业务，为全球客户提供专业的风险对冲与保险解决方案。
BHC vs RNR — 直观对比
营收规模更大
BHC
是对方的1.3倍
$2.2B
营收增速更快
BHC
高出46.0%
-36.8%
净利率更高
RNR
高出27.2%
-3.7%
两年增速更快
BHC
近两年复合增速
-11.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $2.2B |
| 净利润 | $-103.0M | $515.8M |
| 毛利率 | — | — |
| 营业利润率 | 17.0% | — |
| 净利率 | -3.7% | 23.5% |
| 营收同比 | 9.3% | -36.8% |
| 净利润同比 | -205.1% | 72.6% |
| 每股收益（稀释后） | $-0.30 | $6.57 |
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BHCRNR
| Q1 26 | — | $2.2B | ||
| Q4 25 | $2.8B | $3.0B | ||
| Q3 25 | $2.7B | $3.2B | ||
| Q2 25 | $2.5B | $3.2B | ||
| Q1 25 | $2.3B | $3.5B | ||
| Q4 24 | $2.6B | $2.3B | ||
| Q3 24 | $2.5B | $4.0B | ||
| Q2 24 | $2.4B | $2.8B |
净利润BHCRNR
| Q1 26 | — | $515.8M | ||
| Q4 25 | $-103.0M | $760.5M | ||
| Q3 25 | $179.0M | $916.5M | ||
| Q2 25 | $148.0M | $835.4M | ||
| Q1 25 | $-58.0M | $170.0M | ||
| Q4 24 | $98.0M | $-189.7M | ||
| Q3 24 | $-85.0M | $1.2B | ||
| Q2 24 | $10.0M | $503.9M |
营业利润率BHCRNR
| Q1 26 | — | — | ||
| Q4 25 | 17.0% | 42.5% | ||
| Q3 25 | 23.1% | 46.3% | ||
| Q2 25 | 17.5% | 41.8% | ||
| Q1 25 | 12.2% | -2.0% | ||
| Q4 24 | 21.8% | -3.6% | ||
| Q3 24 | 12.7% | 43.7% | ||
| Q2 24 | 16.2% | 25.0% |
净利率BHCRNR
| Q1 26 | — | 23.5% | ||
| Q4 25 | -3.7% | 25.6% | ||
| Q3 25 | 6.7% | 28.7% | ||
| Q2 25 | 5.8% | 26.1% | ||
| Q1 25 | -2.6% | 4.9% | ||
| Q4 24 | 3.8% | -8.3% | ||
| Q3 24 | -3.4% | 29.8% | ||
| Q2 24 | 0.4% | 17.8% |
每股收益（稀释后）BHCRNR
| Q1 26 | — | $6.57 | ||
| Q4 25 | $-0.30 | $16.16 | ||
| Q3 25 | $0.48 | $19.40 | ||
| Q2 25 | $0.40 | $17.20 | ||
| Q1 25 | $-0.16 | $3.27 | ||
| Q4 24 | $0.24 | $-3.76 | ||
| Q3 24 | $-0.23 | $22.62 | ||
| Q2 24 | $0.03 | $9.41 |
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 | $1.6B |
| 总债务越低越好 | $20.8B | — |
| 股东权益账面价值 | $-554.0M | $4.3B |
| 总资产 | $26.4B | $53.7B |
| 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BHCRNR
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.3B | $1.7B | ||
| Q3 25 | $1.3B | $1.7B | ||
| Q2 25 | $1.7B | $1.4B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.2B | $1.7B | ||
| Q3 24 | $719.0M | $1.6B | ||
| Q2 24 | $595.0M | $1.6B |
总债务BHCRNR
| Q1 26 | — | — | ||
| Q4 25 | $20.8B | $2.3B | ||
| Q3 25 | $21.0B | $2.2B | ||
| Q2 25 | $21.7B | $2.3B | ||
| Q1 25 | $21.5B | $2.8B | ||
| Q4 24 | $21.6B | $1.9B | ||
| Q3 24 | $21.5B | $1.9B | ||
| Q2 24 | $21.7B | $2.0B |
股东权益BHCRNR
| Q1 26 | — | $4.3B | ||
| Q4 25 | $-554.0M | $11.6B | ||
| Q3 25 | $-565.0M | $11.5B | ||
| Q2 25 | $-764.0M | $10.8B | ||
| Q1 25 | $-1.2B | $10.3B | ||
| Q4 24 | $-1.3B | $10.6B | ||
| Q3 24 | $-1.2B | $11.2B | ||
| Q2 24 | $-1.2B | $10.2B |
总资产BHCRNR
| Q1 26 | — | $53.7B | ||
| Q4 25 | $26.4B | $53.8B | ||
| Q3 25 | $26.8B | $54.5B | ||
| Q2 25 | $27.3B | $54.7B | ||
| Q1 25 | $26.4B | $53.6B | ||
| Q4 24 | $26.5B | $50.7B | ||
| Q3 24 | $26.5B | $52.8B | ||
| Q2 24 | $26.5B | $51.6B |
负债/权益比BHCRNR
| Q1 26 | — | — | ||
| Q4 25 | — | 0.20× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.21× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.17× | ||
| Q2 24 | — | 0.19× |
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BHCRNR
| Q1 26 | — | — | ||
| Q4 25 | $495.0M | $483.0M | ||
| Q3 25 | $405.0M | $1.6B | ||
| Q2 25 | $289.0M | $1.5B | ||
| Q1 25 | $211.0M | $157.8M | ||
| Q4 24 | $601.0M | $778.9M | ||
| Q3 24 | $405.0M | $1.5B | ||
| Q2 24 | $380.0M | $1.2B |
自由现金流BHCRNR
| Q1 26 | — | — | ||
| Q4 25 | $403.0M | — | ||
| Q3 25 | $314.0M | — | ||
| Q2 25 | $190.0M | — | ||
| Q1 25 | $96.0M | — | ||
| Q4 24 | $495.0M | — | ||
| Q3 24 | $334.0M | — | ||
| Q2 24 | $302.0M | — |
自由现金流率BHCRNR
| Q1 26 | — | — | ||
| Q4 25 | 14.4% | — | ||
| Q3 25 | 11.7% | — | ||
| Q2 25 | 7.5% | — | ||
| Q1 25 | 4.2% | — | ||
| Q4 24 | 19.3% | — | ||
| Q3 24 | 13.3% | — | ||
| Q2 24 | 12.6% | — |
资本支出强度BHCRNR
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | — | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | 5.1% | — | ||
| Q4 24 | 4.1% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | 3.2% | — |
现金转化率BHCRNR
| Q1 26 | — | — | ||
| Q4 25 | — | 0.64× | ||
| Q3 25 | 2.26× | 1.73× | ||
| Q2 25 | 1.95× | 1.76× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | 6.13× | — | ||
| Q3 24 | — | 1.26× | ||
| Q2 24 | 38.00× | 2.41× |
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% |
RNR
暂无分部数据
