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博士伦健康（BHC）与RXO, Inc.（RXO）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RXO, Inc.的1.9倍（$2.8B vs $1.5B），RXO, Inc.净利率更高（-3.1% vs -3.7%，领先0.6%），博士伦健康同比增速更快（9.3% vs -11.9%），博士伦健康自由现金流更多（$403.0M vs $-9.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% 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。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
BHC vs RXO — 直观对比
营收规模更大
BHC
是对方的1.9倍
$1.5B
营收增速更快
BHC
高出21.1%
-11.9%
净利率更高
RXO
高出0.6%
-3.7%
自由现金流更多
BHC
多$412.0M
$-9.0M
两年增速更快
RXO
近两年复合增速
14.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.5B |
| 净利润 | $-103.0M | $-46.0M |
| 毛利率 | — | — |
| 营业利润率 | 17.0% | -2.9% |
| 净利率 | -3.7% | -3.1% |
| 营收同比 | 9.3% | -11.9% |
| 净利润同比 | -205.1% | -84.0% |
| 每股收益（稀释后） | $-0.30 | $-0.28 |
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BHCRXO
| Q4 25 | $2.8B | $1.5B | ||
| Q3 25 | $2.7B | $1.4B | ||
| Q2 25 | $2.5B | $1.4B | ||
| Q1 25 | $2.3B | $1.4B | ||
| Q4 24 | $2.6B | $1.7B | ||
| Q3 24 | $2.5B | $1.0B | ||
| Q2 24 | $2.4B | $930.0M | ||
| Q1 24 | $2.2B | $913.0M |
净利润BHCRXO
| Q4 25 | $-103.0M | $-46.0M | ||
| Q3 25 | $179.0M | $-14.0M | ||
| Q2 25 | $148.0M | $-9.0M | ||
| Q1 25 | $-58.0M | $-31.0M | ||
| Q4 24 | $98.0M | $-25.0M | ||
| Q3 24 | $-85.0M | $-243.0M | ||
| Q2 24 | $10.0M | $-7.0M | ||
| Q1 24 | $-64.0M | $-15.0M |
营业利润率BHCRXO
| Q4 25 | 17.0% | -2.9% | ||
| Q3 25 | 23.1% | -0.5% | ||
| Q2 25 | 17.5% | — | ||
| Q1 25 | 12.2% | -2.1% | ||
| Q4 24 | 21.8% | -1.4% | ||
| Q3 24 | 12.7% | -1.9% | ||
| Q2 24 | 16.2% | — | ||
| Q1 24 | 13.1% | -1.3% |
净利率BHCRXO
| Q4 25 | -3.7% | -3.1% | ||
| Q3 25 | 6.7% | -1.0% | ||
| Q2 25 | 5.8% | -0.6% | ||
| Q1 25 | -2.6% | -2.2% | ||
| Q4 24 | 3.8% | -1.5% | ||
| Q3 24 | -3.4% | -23.4% | ||
| Q2 24 | 0.4% | -0.8% | ||
| Q1 24 | -3.0% | -1.6% |
每股收益（稀释后）BHCRXO
| Q4 25 | $-0.30 | $-0.28 | ||
| Q3 25 | $0.48 | $-0.08 | ||
| Q2 25 | $0.40 | $-0.05 | ||
| Q1 25 | $-0.16 | $-0.18 | ||
| Q4 24 | $0.24 | $-0.17 | ||
| Q3 24 | $-0.23 | $-1.81 | ||
| Q2 24 | $0.03 | $-0.06 | ||
| Q1 24 | $-0.17 | $-0.13 |
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 | $17.0M |
| 总债务越低越好 | $20.8B | $387.0M |
| 股东权益账面价值 | $-554.0M | $1.5B |
| 总资产 | $26.4B | $3.3B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资BHCRXO
| Q4 25 | $1.3B | $17.0M | ||
| Q3 25 | $1.3B | $25.0M | ||
| Q2 25 | $1.7B | $18.0M | ||
| Q1 25 | $1.1B | $16.0M | ||
| Q4 24 | $1.2B | $35.0M | ||
| Q3 24 | $719.0M | $55.0M | ||
| Q2 24 | $595.0M | $7.0M | ||
| Q1 24 | $733.0M | $7.0M |
总债务BHCRXO
| Q4 25 | $20.8B | $387.0M | ||
| Q3 25 | $21.0B | $387.0M | ||
| Q2 25 | $21.7B | $387.0M | ||
| Q1 25 | $21.5B | $387.0M | ||
| Q4 24 | $21.6B | $351.0M | ||
| Q3 24 | $21.5B | $352.0M | ||
| Q2 24 | $21.7B | $370.0M | ||
| Q1 24 | $22.1B | $351.0M |
股东权益BHCRXO
| Q4 25 | $-554.0M | $1.5B | ||
| Q3 25 | $-565.0M | $1.6B | ||
| Q2 25 | $-764.0M | $1.6B | ||
| Q1 25 | $-1.2B | $1.6B | ||
| Q4 24 | $-1.3B | $1.6B | ||
| Q3 24 | $-1.2B | $1.7B | ||
| Q2 24 | $-1.2B | $579.0M | ||
| Q1 24 | $-1.1B | $582.0M |
总资产BHCRXO
| Q4 25 | $26.4B | $3.3B | ||
| Q3 25 | $26.8B | $3.2B | ||
| Q2 25 | $27.3B | $3.2B | ||
| Q1 25 | $26.4B | $3.3B | ||
| Q4 24 | $26.5B | $3.4B | ||
| Q3 24 | $26.5B | $3.4B | ||
| Q2 24 | $26.5B | $1.8B | ||
| Q1 24 | $26.9B | $1.8B |
负债/权益比BHCRXO
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
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 | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $403.0M | $-9.0M |
| 自由现金流率自由现金流/营收 | 14.4% | -0.6% |
| 资本支出强度资本支出/营收 | 3.3% | 1.1% |
| 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 | $-8.0M |
8季度趋势，按日历期对齐
经营现金流BHCRXO
| Q4 25 | $495.0M | $7.0M | ||
| Q3 25 | $405.0M | $23.0M | ||
| Q2 25 | $289.0M | $23.0M | ||
| Q1 25 | $211.0M | $-2.0M | ||
| Q4 24 | $601.0M | $-7.0M | ||
| Q3 24 | $405.0M | $-7.0M | ||
| Q2 24 | $380.0M | $-5.0M | ||
| Q1 24 | $211.0M | $7.0M |
自由现金流BHCRXO
| Q4 25 | $403.0M | $-9.0M | ||
| Q3 25 | $314.0M | $9.0M | ||
| Q2 25 | $190.0M | $9.0M | ||
| Q1 25 | $96.0M | $-17.0M | ||
| Q4 24 | $495.0M | $-19.0M | ||
| Q3 24 | $334.0M | $-18.0M | ||
| Q2 24 | $302.0M | $-16.0M | ||
| Q1 24 | $129.0M | $-4.0M |
自由现金流率BHCRXO
| Q4 25 | 14.4% | -0.6% | ||
| Q3 25 | 11.7% | 0.6% | ||
| Q2 25 | 7.5% | 0.6% | ||
| Q1 25 | 4.2% | -1.2% | ||
| Q4 24 | 19.3% | -1.1% | ||
| Q3 24 | 13.3% | -1.7% | ||
| Q2 24 | 12.6% | -1.7% | ||
| Q1 24 | 6.0% | -0.4% |
资本支出强度BHCRXO
| Q4 25 | 3.3% | 1.1% | ||
| Q3 25 | 3.4% | 1.0% | ||
| Q2 25 | 3.9% | 1.0% | ||
| Q1 25 | 5.1% | 1.0% | ||
| Q4 24 | 4.1% | 0.7% | ||
| Q3 24 | 2.8% | 1.1% | ||
| Q2 24 | 3.2% | 1.2% | ||
| Q1 24 | 3.8% | 1.2% |
现金转化率BHCRXO
| 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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
