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博士伦健康（BHC）与RUSH ENTERPRISES INC \TX\（RUSHA）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RUSH ENTERPRISES INC \TX\的1.7倍（$2.8B vs $1.7B），RUSH ENTERPRISES INC \TX\净利率更高（3.7% vs -3.7%，领先7.3%），博士伦健康同比增速更快（9.3% vs -9.0%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $403.0M），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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
BHC vs RUSHA — 直观对比
营收规模更大
BHC
是对方的1.7倍
$1.7B
营收增速更快
BHC
高出18.3%
-9.0%
净利率更高
RUSHA
高出7.3%
-3.7%
自由现金流更多
RUSHA
多$8.6M
$403.0M
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 | $1.7B |
| 净利润 | $-103.0M | $61.7M |
| 毛利率 | — | 20.4% |
| 营业利润率 | 17.0% | 4.9% |
| 净利率 | -3.7% | 3.7% |
| 营收同比 | 9.3% | -9.0% |
| 净利润同比 | -205.1% | 1.8% |
| 每股收益（稀释后） | $-0.30 | $0.77 |
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BHCRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $2.8B | $1.7B | ||
| Q3 25 | $2.7B | $1.8B | ||
| Q2 25 | $2.5B | $1.8B | ||
| Q1 25 | $2.3B | $1.8B | ||
| Q4 24 | $2.6B | $1.9B | ||
| Q3 24 | $2.5B | $1.8B | ||
| Q2 24 | $2.4B | $1.9B |
净利润BHCRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $-103.0M | $64.3M | ||
| Q3 25 | $179.0M | $66.7M | ||
| Q2 25 | $148.0M | $72.4M | ||
| Q1 25 | $-58.0M | $60.3M | ||
| Q4 24 | $98.0M | $74.8M | ||
| Q3 24 | $-85.0M | $79.1M | ||
| Q2 24 | $10.0M | $78.7M |
毛利率BHCRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | — | 20.8% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 20.7% | ||
| Q1 25 | — | 20.3% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | 20.2% |
营业利润率BHCRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 17.0% | 5.5% | ||
| Q3 25 | 23.1% | 5.6% | ||
| Q2 25 | 17.5% | 6.0% | ||
| Q1 25 | 12.2% | 5.2% | ||
| Q4 24 | 21.8% | 5.8% | ||
| Q3 24 | 12.7% | 6.7% | ||
| Q2 24 | 16.2% | 6.4% |
净利率BHCRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | -3.7% | 3.8% | ||
| Q3 25 | 6.7% | 3.7% | ||
| Q2 25 | 5.8% | 3.9% | ||
| Q1 25 | -2.6% | 3.4% | ||
| Q4 24 | 3.8% | 3.9% | ||
| Q3 24 | -3.4% | 4.4% | ||
| Q2 24 | 0.4% | 4.1% |
每股收益（稀释后）BHCRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $-0.30 | $0.81 | ||
| Q3 25 | $0.48 | $0.83 | ||
| Q2 25 | $0.40 | $0.90 | ||
| Q1 25 | $-0.16 | $0.73 | ||
| Q4 24 | $0.24 | $-95.13 | ||
| Q3 24 | $-0.23 | $0.97 | ||
| Q2 24 | $0.03 | $97.00 |
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 | $277.8M |
| 股东权益账面价值 | $-554.0M | $2.3B |
| 总资产 | $26.4B | $4.5B |
| 负债/权益比越低杠杆越低 | — | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资BHCRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $212.6M | ||
| Q3 25 | $1.3B | $242.0M | ||
| Q2 25 | $1.7B | $211.1M | ||
| Q1 25 | $1.1B | $228.7M | ||
| Q4 24 | $1.2B | $228.1M | ||
| Q3 24 | $719.0M | $185.1M | ||
| Q2 24 | $595.0M | $167.3M |
总债务BHCRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $20.8B | $274.8M | ||
| Q3 25 | $21.0B | — | ||
| Q2 25 | $21.7B | — | ||
| Q1 25 | $21.5B | — | ||
| Q4 24 | $21.6B | $408.4M | ||
| Q3 24 | $21.5B | — | ||
| Q2 24 | $21.7B | — |
股东权益BHCRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $-554.0M | $2.2B | ||
| Q3 25 | $-565.0M | $2.2B | ||
| Q2 25 | $-764.0M | $2.2B | ||
| Q1 25 | $-1.2B | $2.2B | ||
| Q4 24 | $-1.3B | $2.1B | ||
| Q3 24 | $-1.2B | $2.1B | ||
| Q2 24 | $-1.2B | $2.0B |
总资产BHCRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $26.4B | $4.4B | ||
| Q3 25 | $26.8B | $4.6B | ||
| Q2 25 | $27.3B | $4.7B | ||
| Q1 25 | $26.4B | $4.7B | ||
| Q4 24 | $26.5B | $4.6B | ||
| Q3 24 | $26.5B | $4.6B | ||
| Q2 24 | $26.5B | $4.5B |
负债/权益比BHCRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | — | ||
| 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 | $411.6M |
| 自由现金流率自由现金流/营收 | 14.4% | 24.4% |
| 资本支出强度资本支出/营收 | 3.3% | 2.0% |
| 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 | $828.4M |
8季度趋势，按日历期对齐
经营现金流BHCRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $495.0M | $112.9M | ||
| Q3 25 | $405.0M | $367.8M | ||
| Q2 25 | $289.0M | $227.6M | ||
| Q1 25 | $211.0M | $153.5M | ||
| Q4 24 | $601.0M | $392.3M | ||
| Q3 24 | $405.0M | $111.7M | ||
| Q2 24 | $380.0M | $270.6M |
自由现金流BHCRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $403.0M | $31.9M | ||
| Q3 25 | $314.0M | $271.2M | ||
| Q2 25 | $190.0M | $113.8M | ||
| Q1 25 | $96.0M | $45.1M | ||
| Q4 24 | $495.0M | $263.5M | ||
| Q3 24 | $334.0M | $-20.0M | ||
| Q2 24 | $302.0M | $177.2M |
自由现金流率BHCRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 14.4% | 1.9% | ||
| Q3 25 | 11.7% | 15.2% | ||
| Q2 25 | 7.5% | 6.2% | ||
| Q1 25 | 4.2% | 2.6% | ||
| Q4 24 | 19.3% | 13.7% | ||
| Q3 24 | 13.3% | -1.1% | ||
| Q2 24 | 12.6% | 9.1% |
资本支出强度BHCRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 3.3% | 4.8% | ||
| Q3 25 | 3.4% | 5.4% | ||
| Q2 25 | 3.9% | 6.2% | ||
| Q1 25 | 5.1% | 6.2% | ||
| Q4 24 | 4.1% | 6.7% | ||
| Q3 24 | 2.8% | 7.3% | ||
| Q2 24 | 3.2% | 4.8% |
现金转化率BHCRUSHA
| Q1 26 | — | — | ||
| Q4 25 | — | 1.75× | ||
| Q3 25 | 2.26× | 5.51× | ||
| Q2 25 | 1.95× | 3.14× | ||
| Q1 25 | — | 2.55× | ||
| Q4 24 | 6.13× | 5.25× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | 38.00× | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
