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博士伦健康（BHC）与RPM INTERNATIONAL INC（RPM）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RPM INTERNATIONAL INC的1.5倍（$2.8B vs $1.9B），RPM INTERNATIONAL INC净利率更高（8.4% vs -3.7%，领先12.1%），博士伦健康同比增速更快（9.3% vs 3.5%），博士伦健康自由现金流更多（$403.0M vs $296.4M），过去两年博士伦健康的营收复合增速更高（14.0% vs 12.0%）
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。
BVS娱乐前身为Saban制作、Saban国际及Saban娱乐，是华特迪士尼公司旗下子公司。1980年4月24日由哈伊姆·萨班与舒基·利维创立，最初主营音乐制作，后逐步转向电视节目制作发行业务，最为知名的是为Fox Family/ABC Family及已停播的Fox Kids、Jetix频道制作发行儿童节目。
BHC vs RPM — 直观对比
营收规模更大
BHC
是对方的1.5倍
$1.9B
营收增速更快
BHC
高出5.8%
3.5%
净利率更高
RPM
高出12.1%
-3.7%
自由现金流更多
BHC
多$106.6M
$296.4M
两年增速更快
BHC
近两年复合增速
12.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.9B |
| 净利润 | $-103.0M | $161.2M |
| 毛利率 | — | 40.8% |
| 营业利润率 | 17.0% | 11.0% |
| 净利率 | -3.7% | 8.4% |
| 营收同比 | 9.3% | 3.5% |
| 净利润同比 | -205.1% | -12.0% |
| 每股收益（稀释后） | $-0.30 | $1.26 |
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BHCRPM
| Q4 25 | $2.8B | $1.9B | ||
| Q3 25 | $2.7B | $2.1B | ||
| Q2 25 | $2.5B | $2.1B | ||
| Q1 25 | $2.3B | $1.5B | ||
| Q4 24 | $2.6B | $1.8B | ||
| Q3 24 | $2.5B | $2.0B | ||
| Q2 24 | $2.4B | $2.0B | ||
| Q1 24 | $2.2B | $1.5B |
净利润BHCRPM
| Q4 25 | $-103.0M | $161.2M | ||
| Q3 25 | $179.0M | $227.6M | ||
| Q2 25 | $148.0M | $225.8M | ||
| Q1 25 | $-58.0M | $52.0M | ||
| Q4 24 | $98.0M | $183.2M | ||
| Q3 24 | $-85.0M | $227.7M | ||
| Q2 24 | $10.0M | $180.6M | ||
| Q1 24 | $-64.0M | $61.2M |
毛利率BHCRPM
| Q4 25 | — | 40.8% | ||
| Q3 25 | — | 42.3% | ||
| Q2 25 | — | 42.4% | ||
| Q1 25 | — | 38.4% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 42.5% | ||
| Q2 24 | — | 41.4% | ||
| Q1 24 | — | 39.9% |
营业利润率BHCRPM
| Q4 25 | 17.0% | 11.0% | ||
| Q3 25 | 23.1% | 14.1% | ||
| Q2 25 | 17.5% | 11.9% | ||
| Q1 25 | 12.2% | 2.8% | ||
| Q4 24 | 21.8% | 11.5% | ||
| Q3 24 | 12.7% | 14.8% | ||
| Q2 24 | 16.2% | 11.9% | ||
| Q1 24 | 13.1% | 5.5% |
净利率BHCRPM
| Q4 25 | -3.7% | 8.4% | ||
| Q3 25 | 6.7% | 10.8% | ||
| Q2 25 | 5.8% | 10.8% | ||
| Q1 25 | -2.6% | 3.5% | ||
| Q4 24 | 3.8% | 9.9% | ||
| Q3 24 | -3.4% | 11.6% | ||
| Q2 24 | 0.4% | 9.0% | ||
| Q1 24 | -3.0% | 4.0% |
每股收益（稀释后）BHCRPM
| Q4 25 | $-0.30 | $1.26 | ||
| Q3 25 | $0.48 | $1.77 | ||
| Q2 25 | $0.40 | $1.76 | ||
| Q1 25 | $-0.16 | $0.40 | ||
| Q4 24 | $0.24 | $1.42 | ||
| Q3 24 | $-0.23 | $1.77 | ||
| Q2 24 | $0.03 | $1.40 | ||
| Q1 24 | $-0.17 | $0.47 |
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 | $316.6M |
| 总债务越低越好 | $20.8B | $2.5B |
| 股东权益账面价值 | $-554.0M | $3.1B |
| 总资产 | $26.4B | $7.9B |
| 负债/权益比越低杠杆越低 | — | 0.80× |
8季度趋势，按日历期对齐
现金及短期投资BHCRPM
| Q4 25 | $1.3B | $316.6M | ||
| Q3 25 | $1.3B | $297.1M | ||
| Q2 25 | $1.7B | $302.1M | ||
| Q1 25 | $1.1B | $241.9M | ||
| Q4 24 | $1.2B | $268.7M | ||
| Q3 24 | $719.0M | $231.6M | ||
| Q2 24 | $595.0M | $237.4M | ||
| Q1 24 | $733.0M | $248.9M |
总债务BHCRPM
| Q4 25 | $20.8B | $2.5B | ||
| Q3 25 | $21.0B | $2.7B | ||
| Q2 25 | $21.7B | $2.6B | ||
| Q1 25 | $21.5B | $2.1B | ||
| Q4 24 | $21.6B | $2.0B | ||
| Q3 24 | $21.5B | $2.0B | ||
| Q2 24 | $21.7B | $2.0B | ||
| Q1 24 | $22.1B | $2.2B |
股东权益BHCRPM
| Q4 25 | $-554.0M | $3.1B | ||
| Q3 25 | $-565.0M | $3.1B | ||
| Q2 25 | $-764.0M | $2.9B | ||
| Q1 25 | $-1.2B | $2.7B | ||
| Q4 24 | $-1.3B | $2.7B | ||
| Q3 24 | $-1.2B | $2.6B | ||
| Q2 24 | $-1.2B | $2.5B | ||
| Q1 24 | $-1.1B | $2.3B |
总资产BHCRPM
| Q4 25 | $26.4B | $7.9B | ||
| Q3 25 | $26.8B | $7.9B | ||
| Q2 25 | $27.3B | $7.8B | ||
| Q1 25 | $26.4B | $6.6B | ||
| Q4 24 | $26.5B | $6.7B | ||
| Q3 24 | $26.5B | $6.6B | ||
| Q2 24 | $26.5B | $6.6B | ||
| Q1 24 | $26.9B | $6.4B |
负债/权益比BHCRPM
| Q4 25 | — | 0.80× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 0.91× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.77× | ||
| Q2 24 | — | 0.79× | ||
| Q1 24 | — | 0.93× |
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 | $345.7M |
| 自由现金流经营现金流 - 资本支出 | $403.0M | $296.4M |
| 自由现金流率自由现金流/营收 | 14.4% | 15.5% |
| 资本支出强度资本支出/营收 | 3.3% | 2.6% |
| 现金转化率经营现金流/净利润 | — | 2.14× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $582.9M |
8季度趋势，按日历期对齐
经营现金流BHCRPM
| Q4 25 | $495.0M | $345.7M | ||
| Q3 25 | $405.0M | $237.5M | ||
| Q2 25 | $289.0M | $149.2M | ||
| Q1 25 | $211.0M | $91.5M | ||
| Q4 24 | $601.0M | $279.4M | ||
| Q3 24 | $405.0M | $248.1M | ||
| Q2 24 | $380.0M | $181.2M | ||
| Q1 24 | $211.0M | $173.4M |
自由现金流BHCRPM
| Q4 25 | $403.0M | $296.4M | ||
| Q3 25 | $314.0M | $175.0M | ||
| Q2 25 | $190.0M | $78.2M | ||
| Q1 25 | $96.0M | $33.3M | ||
| Q4 24 | $495.0M | $229.5M | ||
| Q3 24 | $334.0M | $197.3M | ||
| Q2 24 | $302.0M | $105.3M | ||
| Q1 24 | $129.0M | $124.6M |
自由现金流率BHCRPM
| Q4 25 | 14.4% | 15.5% | ||
| Q3 25 | 11.7% | 8.3% | ||
| Q2 25 | 7.5% | 3.8% | ||
| Q1 25 | 4.2% | 2.3% | ||
| Q4 24 | 19.3% | 12.4% | ||
| Q3 24 | 13.3% | 10.0% | ||
| Q2 24 | 12.6% | 5.2% | ||
| Q1 24 | 6.0% | 8.2% |
资本支出强度BHCRPM
| Q4 25 | 3.3% | 2.6% | ||
| Q3 25 | 3.4% | 3.0% | ||
| Q2 25 | 3.9% | 3.4% | ||
| Q1 25 | 5.1% | 3.9% | ||
| Q4 24 | 4.1% | 2.7% | ||
| Q3 24 | 2.8% | 2.6% | ||
| Q2 24 | 3.2% | 3.8% | ||
| Q1 24 | 3.8% | 3.2% |
现金转化率BHCRPM
| Q4 25 | — | 2.14× | ||
| Q3 25 | 2.26× | 1.04× | ||
| Q2 25 | 1.95× | 0.66× | ||
| Q1 25 | — | 1.76× | ||
| Q4 24 | 6.13× | 1.53× | ||
| Q3 24 | — | 1.09× | ||
| Q2 24 | 38.00× | 1.00× | ||
| Q1 24 | — | 2.83× |
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% |
RPM
| Construction Products Group Segment | $737.4M | 39% |
| Consumer Segment | $638.6M | 33% |
| Performance Coatings Group Segment | $533.8M | 28% |
