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博士伦健康（BHC）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是博士伦健康的1.6倍（$4.6B vs $2.8B），标普全球净利率更高（13.6% vs -3.7%，领先17.3%），标普全球同比增速更快（59.0% vs 9.3%），过去两年标普全球的营收复合增速更高（103.8% 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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
BHC vs VG — 直观对比
营收规模更大
VG
是对方的1.6倍
$2.8B
营收增速更快
VG
高出49.7%
9.3%
净利率更高
VG
高出17.3%
-3.7%
两年增速更快
VG
近两年复合增速
14.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $4.6B |
| 净利润 | $-103.0M | $625.0M |
| 毛利率 | — | — |
| 营业利润率 | 17.0% | 26.1% |
| 净利率 | -3.7% | 13.6% |
| 营收同比 | 9.3% | 59.0% |
| 净利润同比 | -205.1% | 20.9% |
| 每股收益（稀释后） | $-0.30 | $0.19 |
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BHCVG
| Q1 26 | — | $4.6B | ||
| Q4 25 | $2.8B | $4.4B | ||
| Q3 25 | $2.7B | $3.3B | ||
| Q2 25 | $2.5B | $3.1B | ||
| Q1 25 | $2.3B | $2.9B | ||
| Q4 24 | $2.6B | $1.5B | ||
| Q3 24 | $2.5B | $926.0M | ||
| Q2 24 | $2.4B | $1.1B |
净利润BHCVG
| Q1 26 | — | $625.0M | ||
| Q4 25 | $-103.0M | $1.2B | ||
| Q3 25 | $179.0M | $550.0M | ||
| Q2 25 | $148.0M | $475.0M | ||
| Q1 25 | $-58.0M | $517.0M | ||
| Q4 24 | $98.0M | $990.0M | ||
| Q3 24 | $-85.0M | $-294.0M | ||
| Q2 24 | $10.0M | $352.0M |
营业利润率BHCVG
| Q1 26 | — | 26.1% | ||
| Q4 25 | 17.0% | 38.7% | ||
| Q3 25 | 23.1% | 39.7% | ||
| Q2 25 | 17.5% | 33.5% | ||
| Q1 25 | 12.2% | 37.3% | ||
| Q4 24 | 21.8% | 39.0% | ||
| Q3 24 | 12.7% | 20.4% | ||
| Q2 24 | 16.2% | 32.8% |
净利率BHCVG
| Q1 26 | — | 13.6% | ||
| Q4 25 | -3.7% | 26.8% | ||
| Q3 25 | 6.7% | 16.5% | ||
| Q2 25 | 5.8% | 15.3% | ||
| Q1 25 | -2.6% | 17.9% | ||
| Q4 24 | 3.8% | 65.0% | ||
| Q3 24 | -3.4% | -31.7% | ||
| Q2 24 | 0.4% | 31.8% |
每股收益（稀释后）BHCVG
| Q1 26 | — | $0.19 | ||
| Q4 25 | $-0.30 | $0.41 | ||
| Q3 25 | $0.48 | $0.16 | ||
| Q2 25 | $0.40 | $0.14 | ||
| Q1 25 | $-0.16 | $0.15 | ||
| Q4 24 | $0.24 | $0.35 | ||
| Q3 24 | $-0.23 | $-0.15 | ||
| Q2 24 | $0.03 | $0.12 |
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 | $10.7B |
| 总资产 | $26.4B | $56.3B |
| 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BHCVG
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.3B | $2.4B | ||
| Q3 25 | $1.3B | $1.9B | ||
| Q2 25 | $1.7B | $2.2B | ||
| Q1 25 | $1.1B | $3.6B | ||
| Q4 24 | $1.2B | $3.6B | ||
| Q3 24 | $719.0M | — | ||
| Q2 24 | $595.0M | — |
总债务BHCVG
| Q1 26 | — | — | ||
| Q4 25 | $20.8B | $34.2B | ||
| Q3 25 | $21.0B | $32.6B | ||
| Q2 25 | $21.7B | $30.0B | ||
| Q1 25 | $21.5B | $29.3B | ||
| Q4 24 | $21.6B | $29.3B | ||
| Q3 24 | $21.5B | — | ||
| Q2 24 | $21.7B | — |
股东权益BHCVG
| Q1 26 | — | $10.7B | ||
| Q4 25 | $-554.0M | $6.7B | ||
| Q3 25 | $-565.0M | $5.7B | ||
| Q2 25 | $-764.0M | $5.3B | ||
| Q1 25 | $-1.2B | $4.9B | ||
| Q4 24 | $-1.3B | $2.9B | ||
| Q3 24 | $-1.2B | — | ||
| Q2 24 | $-1.2B | — |
总资产BHCVG
| Q1 26 | — | $56.3B | ||
| Q4 25 | $26.4B | $53.4B | ||
| Q3 25 | $26.8B | $50.1B | ||
| Q2 25 | $27.3B | $46.5B | ||
| Q1 25 | $26.4B | $45.1B | ||
| Q4 24 | $26.5B | $43.5B | ||
| Q3 24 | $26.5B | — | ||
| Q2 24 | $26.5B | — |
负债/权益比BHCVG
| Q1 26 | — | — | ||
| Q4 25 | — | 5.07× | ||
| Q3 25 | — | 5.73× | ||
| Q2 25 | — | 5.69× | ||
| Q1 25 | — | 6.01× | ||
| Q4 24 | — | 10.11× | ||
| 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 | — |
| 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BHCVG
| Q1 26 | — | — | ||
| Q4 25 | $495.0M | $2.1B | ||
| Q3 25 | $405.0M | $1.9B | ||
| Q2 25 | $289.0M | $1.5B | ||
| Q1 25 | $211.0M | $1.1B | ||
| Q4 24 | $601.0M | — | ||
| Q3 24 | $405.0M | — | ||
| Q2 24 | $380.0M | — |
自由现金流BHCVG
| Q1 26 | — | — | ||
| Q4 25 | $403.0M | $-1.5B | ||
| Q3 25 | $314.0M | $-1.4B | ||
| Q2 25 | $190.0M | $-1.5B | ||
| Q1 25 | $96.0M | $-2.4B | ||
| Q4 24 | $495.0M | — | ||
| Q3 24 | $334.0M | — | ||
| Q2 24 | $302.0M | — |
自由现金流率BHCVG
| Q1 26 | — | — | ||
| Q4 25 | 14.4% | -34.1% | ||
| Q3 25 | 11.7% | -42.4% | ||
| Q2 25 | 7.5% | -49.1% | ||
| Q1 25 | 4.2% | -81.3% | ||
| Q4 24 | 19.3% | — | ||
| Q3 24 | 13.3% | — | ||
| Q2 24 | 12.6% | — |
资本支出强度BHCVG
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 81.6% | ||
| Q3 25 | 3.4% | 98.9% | ||
| Q2 25 | 3.9% | 96.1% | ||
| Q1 25 | 5.1% | 119.8% | ||
| Q4 24 | 4.1% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | 3.2% | — |
现金转化率BHCVG
| Q1 26 | — | — | ||
| Q4 25 | — | 1.77× | ||
| Q3 25 | 2.26× | 3.42× | ||
| Q2 25 | 1.95× | 3.07× | ||
| Q1 25 | — | 2.15× | ||
| Q4 24 | 6.13× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 38.00× | — |
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% |
VG
暂无分部数据
