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博士伦健康（BHC）与Workday, Inc.（WDAY）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Workday, Inc.的1.1倍（$2.8B vs $2.4B），Workday, Inc.净利率更高（10.4% vs -3.7%，领先14.0%），Workday, Inc.同比增速更快（12.6% vs 9.3%），Workday, Inc.自由现金流更多（$550.0M vs $403.0M），过去两年博士伦健康的营收复合增速更高（14.0% vs 12.5%）
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。
Workday是全球领先的企业级云软件供应商，核心产品覆盖人力资本管理、财务管理及企业资源规划解决方案，主要服务教育、医疗、金融、科技等行业的中大型机构，业务遍布北美、欧洲、亚太等全球主要市场。
BHC vs WDAY — 直观对比
营收规模更大
BHC
是对方的1.1倍
$2.4B
营收增速更快
WDAY
高出3.3%
9.3%
净利率更高
WDAY
高出14.0%
-3.7%
自由现金流更多
WDAY
多$147.0M
$403.0M
两年增速更快
BHC
近两年复合增速
12.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $2.4B |
| 净利润 | $-103.0M | $252.0M |
| 毛利率 | — | — |
| 营业利润率 | 17.0% | 10.6% |
| 净利率 | -3.7% | 10.4% |
| 营收同比 | 9.3% | 12.6% |
| 净利润同比 | -205.1% | 30.6% |
| 每股收益（稀释后） | $-0.30 | $0.94 |
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BHCWDAY
| Q4 25 | $2.8B | $2.4B | ||
| Q3 25 | $2.7B | $2.3B | ||
| Q2 25 | $2.5B | $2.2B | ||
| Q1 25 | $2.3B | $2.2B | ||
| Q4 24 | $2.6B | $2.2B | ||
| Q3 24 | $2.5B | $2.1B | ||
| Q2 24 | $2.4B | $2.0B | ||
| Q1 24 | $2.2B | $1.9B |
净利润BHCWDAY
| Q4 25 | $-103.0M | $252.0M | ||
| Q3 25 | $179.0M | $228.0M | ||
| Q2 25 | $148.0M | $68.0M | ||
| Q1 25 | $-58.0M | $94.0M | ||
| Q4 24 | $98.0M | $193.0M | ||
| Q3 24 | $-85.0M | $132.0M | ||
| Q2 24 | $10.0M | $107.0M | ||
| Q1 24 | $-64.0M | $1.2B |
营业利润率BHCWDAY
| Q4 25 | 17.0% | 10.6% | ||
| Q3 25 | 23.1% | 10.6% | ||
| Q2 25 | 17.5% | 1.7% | ||
| Q1 25 | 12.2% | 3.4% | ||
| Q4 24 | 21.8% | 7.6% | ||
| Q3 24 | 12.7% | 5.3% | ||
| Q2 24 | 16.2% | 3.2% | ||
| Q1 24 | 13.1% | 4.1% |
净利率BHCWDAY
| Q4 25 | -3.7% | 10.4% | ||
| Q3 25 | 6.7% | 9.7% | ||
| Q2 25 | 5.8% | 3.0% | ||
| Q1 25 | -2.6% | 4.3% | ||
| Q4 24 | 3.8% | 8.9% | ||
| Q3 24 | -3.4% | 6.3% | ||
| Q2 24 | 0.4% | 5.4% | ||
| Q1 24 | -3.0% | 61.8% |
每股收益（稀释后）BHCWDAY
| Q4 25 | $-0.30 | $0.94 | ||
| Q3 25 | $0.48 | $0.84 | ||
| Q2 25 | $0.40 | $0.25 | ||
| Q1 25 | $-0.16 | $0.34 | ||
| Q4 24 | $0.24 | $0.72 | ||
| Q3 24 | $-0.23 | $0.49 | ||
| Q2 24 | $0.03 | $0.40 | ||
| Q1 24 | $-0.17 | $4.48 |
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 | $6.8B |
| 总债务越低越好 | $20.8B | — |
| 股东权益账面价值 | $-554.0M | $8.9B |
| 总资产 | $26.4B | $17.8B |
| 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BHCWDAY
| Q4 25 | $1.3B | $6.8B | ||
| Q3 25 | $1.3B | $8.2B | ||
| Q2 25 | $1.7B | $8.0B | ||
| Q1 25 | $1.1B | $8.0B | ||
| Q4 24 | $1.2B | $7.2B | ||
| Q3 24 | $719.0M | $7.4B | ||
| Q2 24 | $595.0M | $7.2B | ||
| Q1 24 | $733.0M | $7.8B |
总债务BHCWDAY
| Q4 25 | $20.8B | — | ||
| Q3 25 | $21.0B | — | ||
| Q2 25 | $21.7B | — | ||
| Q1 25 | $21.5B | — | ||
| Q4 24 | $21.6B | — | ||
| Q3 24 | $21.5B | — | ||
| Q2 24 | $21.7B | $3.0B | ||
| Q1 24 | $22.1B | $3.0B |
股东权益BHCWDAY
| Q4 25 | $-554.0M | $8.9B | ||
| Q3 25 | $-565.0M | $9.2B | ||
| Q2 25 | $-764.0M | $8.9B | ||
| Q1 25 | $-1.2B | $9.0B | ||
| Q4 24 | $-1.3B | $8.6B | ||
| Q3 24 | $-1.2B | $8.3B | ||
| Q2 24 | $-1.2B | $8.2B | ||
| Q1 24 | $-1.1B | $8.1B |
总资产BHCWDAY
| Q4 25 | $26.4B | $17.8B | ||
| Q3 25 | $26.8B | $18.0B | ||
| Q2 25 | $27.3B | $17.2B | ||
| Q1 25 | $26.4B | $18.0B | ||
| Q4 24 | $26.5B | $16.4B | ||
| Q3 24 | $26.5B | $16.2B | ||
| Q2 24 | $26.5B | $15.9B | ||
| Q1 24 | $26.9B | $16.5B |
负债/权益比BHCWDAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.37× | ||
| Q1 24 | — | 0.37× |
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 | $588.0M |
| 自由现金流经营现金流 - 资本支出 | $403.0M | $550.0M |
| 自由现金流率自由现金流/营收 | 14.4% | 22.6% |
| 资本支出强度资本支出/营收 | 3.3% | 1.6% |
| 现金转化率经营现金流/净利润 | — | 2.33× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $2.6B |
8季度趋势，按日历期对齐
经营现金流BHCWDAY
| Q4 25 | $495.0M | $588.0M | ||
| Q3 25 | $405.0M | $616.0M | ||
| Q2 25 | $289.0M | $457.0M | ||
| Q1 25 | $211.0M | $1.1B | ||
| Q4 24 | $601.0M | $406.0M | ||
| Q3 24 | $405.0M | $571.0M | ||
| Q2 24 | $380.0M | $372.0M | ||
| Q1 24 | $211.0M | $995.6M |
自由现金流BHCWDAY
| Q4 25 | $403.0M | $550.0M | ||
| Q3 25 | $314.0M | $588.0M | ||
| Q2 25 | $190.0M | $421.0M | ||
| Q1 25 | $96.0M | $1.0B | ||
| Q4 24 | $495.0M | $359.0M | ||
| Q3 24 | $334.0M | $516.0M | ||
| Q2 24 | $302.0M | $291.0M | ||
| Q1 24 | $129.0M | $947.6M |
自由现金流率BHCWDAY
| Q4 25 | 14.4% | 22.6% | ||
| Q3 25 | 11.7% | 25.0% | ||
| Q2 25 | 7.5% | 18.8% | ||
| Q1 25 | 4.2% | 46.4% | ||
| Q4 24 | 19.3% | 16.6% | ||
| Q3 24 | 13.3% | 24.7% | ||
| Q2 24 | 12.6% | 14.6% | ||
| Q1 24 | 6.0% | 49.3% |
资本支出强度BHCWDAY
| Q4 25 | 3.3% | 1.6% | ||
| Q3 25 | 3.4% | 1.2% | ||
| Q2 25 | 3.9% | 1.6% | ||
| Q1 25 | 5.1% | 3.9% | ||
| Q4 24 | 4.1% | 2.2% | ||
| Q3 24 | 2.8% | 2.6% | ||
| Q2 24 | 3.2% | 4.1% | ||
| Q1 24 | 3.8% | 2.5% |
现金转化率BHCWDAY
| Q4 25 | — | 2.33× | ||
| Q3 25 | 2.26× | 2.70× | ||
| Q2 25 | 1.95× | 6.72× | ||
| Q1 25 | — | 11.83× | ||
| Q4 24 | 6.13× | 2.10× | ||
| Q3 24 | — | 4.33× | ||
| Q2 24 | 38.00× | 3.48× | ||
| Q1 24 | — | 0.84× |
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% |
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
