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博士伦健康（BHC）与Petco Health & Wellness Company, Inc.（WOOF）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Petco Health & Wellness Company, Inc.的1.9倍（$2.8B vs $1.5B），Petco Health & Wellness Company, Inc.净利率更高（0.6% vs -3.7%，领先4.3%），博士伦健康同比增速更快（9.3% vs -3.1%），博士伦健康自由现金流更多（$403.0M vs $60.6M），过去两年博士伦健康的营收复合增速更高（14.0% vs -6.5%）
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。
Petco健康与 wellness公司是美国知名宠物零售商，总部分别设于圣迭戈与圣安东尼奥。公司主营宠物食品、宠物用品及相关宠物服务，同时也售卖部分品类的活宠小型宠物，是北美宠物零售领域的老牌企业。
BHC vs WOOF — 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12.4%
-3.1%
净利率更高
WOOF
高出4.3%
-3.7%
自由现金流更多
BHC
多$342.4M
$60.6M
两年增速更快
BHC
近两年复合增速
-6.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.5B |
| 净利润 | $-103.0M | $9.3M |
| 毛利率 | — | 38.9% |
| 营业利润率 | 17.0% | 2.0% |
| 净利率 | -3.7% | 0.6% |
| 营收同比 | 9.3% | -3.1% |
| 净利润同比 | -205.1% | 156.0% |
| 每股收益（稀释后） | $-0.30 | $0.03 |
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BHCWOOF
| Q4 25 | $2.8B | $1.5B | ||
| Q3 25 | $2.7B | $1.5B | ||
| Q2 25 | $2.5B | $1.5B | ||
| Q1 25 | $2.3B | $1.6B | ||
| Q4 24 | $2.6B | $1.5B | ||
| Q3 24 | $2.5B | $1.5B | ||
| Q2 24 | $2.4B | $1.5B | ||
| Q1 24 | $2.2B | $1.7B |
净利润BHCWOOF
| Q4 25 | $-103.0M | $9.3M | ||
| Q3 25 | $179.0M | $14.0M | ||
| Q2 25 | $148.0M | $-11.7M | ||
| Q1 25 | $-58.0M | $-13.8M | ||
| Q4 24 | $98.0M | $-16.7M | ||
| Q3 24 | $-85.0M | $-24.8M | ||
| Q2 24 | $10.0M | $-46.5M | ||
| Q1 24 | $-64.0M | $-22.6M |
毛利率BHCWOOF
| Q4 25 | — | 38.9% | ||
| Q3 25 | — | 39.3% | ||
| Q2 25 | — | 38.2% | ||
| Q1 25 | — | 38.0% | ||
| Q4 24 | — | 38.1% | ||
| Q3 24 | — | 38.1% | ||
| Q2 24 | — | 37.8% | ||
| Q1 24 | — | 36.2% |
营业利润率BHCWOOF
| Q4 25 | 17.0% | 2.0% | ||
| Q3 25 | 23.1% | 2.9% | ||
| Q2 25 | 17.5% | 1.1% | ||
| Q1 25 | 12.2% | 1.1% | ||
| Q4 24 | 21.8% | 0.3% | ||
| Q3 24 | 12.7% | 0.2% | ||
| Q2 24 | 16.2% | -1.1% | ||
| Q1 24 | 13.1% | 0.0% |
净利率BHCWOOF
| Q4 25 | -3.7% | 0.6% | ||
| Q3 25 | 6.7% | 0.9% | ||
| Q2 25 | 5.8% | -0.8% | ||
| Q1 25 | -2.6% | -0.9% | ||
| Q4 24 | 3.8% | -1.1% | ||
| Q3 24 | -3.4% | -1.6% | ||
| Q2 24 | 0.4% | -3.0% | ||
| Q1 24 | -3.0% | -1.3% |
每股收益（稀释后）BHCWOOF
| Q4 25 | $-0.30 | $0.03 | ||
| Q3 25 | $0.48 | $0.05 | ||
| Q2 25 | $0.40 | $-0.04 | ||
| Q1 25 | $-0.16 | $-0.05 | ||
| Q4 24 | $0.24 | $-0.06 | ||
| Q3 24 | $-0.23 | $-0.09 | ||
| Q2 24 | $0.03 | $-0.17 | ||
| Q1 24 | $-0.17 | $-0.09 |
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 | $237.4M |
| 总债务越低越好 | $20.8B | — |
| 股东权益账面价值 | $-554.0M | $1.2B |
| 总资产 | $26.4B | $5.2B |
| 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BHCWOOF
| Q4 25 | $1.3B | $237.4M | ||
| Q3 25 | $1.3B | $188.7M | ||
| Q2 25 | $1.7B | $133.3M | ||
| Q1 25 | $1.1B | $165.8M | ||
| Q4 24 | $1.2B | $116.7M | ||
| Q3 24 | $719.0M | $127.6M | ||
| Q2 24 | $595.0M | $89.7M | ||
| Q1 24 | $733.0M | $125.4M |
总债务BHCWOOF
| 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 | — | ||
| Q1 24 | $22.1B | — |
股东权益BHCWOOF
| Q4 25 | $-554.0M | $1.2B | ||
| Q3 25 | $-565.0M | $1.1B | ||
| Q2 25 | $-764.0M | $1.1B | ||
| Q1 25 | $-1.2B | $1.1B | ||
| Q4 24 | $-1.3B | $1.1B | ||
| Q3 24 | $-1.2B | $1.1B | ||
| Q2 24 | $-1.2B | $1.2B | ||
| Q1 24 | $-1.1B | $1.2B |
总资产BHCWOOF
| Q4 25 | $26.4B | $5.2B | ||
| Q3 25 | $26.8B | $5.2B | ||
| Q2 25 | $27.3B | $5.1B | ||
| Q1 25 | $26.4B | $5.2B | ||
| Q4 24 | $26.5B | $5.2B | ||
| Q3 24 | $26.5B | $5.3B | ||
| Q2 24 | $26.5B | $5.3B | ||
| Q1 24 | $26.9B | $5.4B |
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 | $90.1M |
| 自由现金流经营现金流 - 资本支出 | $403.0M | $60.6M |
| 自由现金流率自由现金流/营收 | 14.4% | 4.1% |
| 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 | — | 9.66× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $129.6M |
8季度趋势，按日历期对齐
经营现金流BHCWOOF
| Q4 25 | $495.0M | $90.1M | ||
| Q3 25 | $405.0M | $85.9M | ||
| Q2 25 | $289.0M | $-15.5M | ||
| Q1 25 | $211.0M | $96.0M | ||
| Q4 24 | $601.0M | $20.7M | ||
| Q3 24 | $405.0M | $69.4M | ||
| Q2 24 | $380.0M | $-8.4M | ||
| Q1 24 | $211.0M | $47.0M |
自由现金流BHCWOOF
| Q4 25 | $403.0M | $60.6M | ||
| Q3 25 | $314.0M | $53.8M | ||
| Q2 25 | $190.0M | $-43.9M | ||
| Q1 25 | $96.0M | $59.0M | ||
| Q4 24 | $495.0M | $-10.3M | ||
| Q3 24 | $334.0M | $42.0M | ||
| Q2 24 | $302.0M | $-41.1M | ||
| Q1 24 | $129.0M | $-2.0M |
自由现金流率BHCWOOF
| Q4 25 | 14.4% | 4.1% | ||
| Q3 25 | 11.7% | 3.6% | ||
| Q2 25 | 7.5% | -2.9% | ||
| Q1 25 | 4.2% | 3.8% | ||
| Q4 24 | 19.3% | -0.7% | ||
| Q3 24 | 13.3% | 2.8% | ||
| Q2 24 | 12.6% | -2.7% | ||
| Q1 24 | 6.0% | -0.1% |
资本支出强度BHCWOOF
| Q4 25 | 3.3% | 2.0% | ||
| Q3 25 | 3.4% | 2.2% | ||
| Q2 25 | 3.9% | 1.9% | ||
| Q1 25 | 5.1% | 2.4% | ||
| Q4 24 | 4.1% | 2.1% | ||
| Q3 24 | 2.8% | 1.8% | ||
| Q2 24 | 3.2% | 2.1% | ||
| Q1 24 | 3.8% | 2.9% |
现金转化率BHCWOOF
| Q4 25 | — | 9.66× | ||
| Q3 25 | 2.26× | 6.15× | ||
| 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% |
WOOF
| Consumables | $731.5M | 50% |
| Supplies And Companion Animals | $478.1M | 33% |
| Services & Other | $254.8M | 17% |
