vs
渤健（BIIB）与查尔斯河实验室（CRL）财务数据对比。点击上方公司名可切换其他公司
渤健的季度营收约是查尔斯河实验室的2.3倍（$2.3B vs $994.2M），渤健净利率更高（-2.1% vs -27.8%，领先25.7%），查尔斯河实验室同比增速更快（-0.8% vs -7.1%），渤健自由现金流更多（$468.0M vs $58.6M），过去两年渤健的营收复合增速更高（-0.2% vs -0.9%）
渤健是总部位于美国马萨诸塞州剑桥市的跨国生物技术企业，专注于神经系统疾病治疗领域。公司核心产品包括用于多发性硬化症的特菲达、万立能等多款药物，以及治疗脊髓性肌萎缩症的诺西那生钠、治疗弗里德赖希共济失调的Skyclarys，致力于为神经疾病和罕见病患者提供创新疗法。
查尔斯河实验室国际是总部位于美国马萨诸塞州威尔明顿的医药及生物技术领域合同研究组织（CRO），成立于1947年，可为新药、疫苗及医疗器械的研发提供临床前和临床阶段的专业实验室服务。
BIIB vs CRL — 直观对比
营收规模更大
BIIB
是对方的2.3倍
$994.2M
营收增速更快
CRL
高出6.3%
-7.1%
净利率更高
BIIB
高出25.7%
-27.8%
自由现金流更多
BIIB
多$409.4M
$58.6M
两年增速更快
BIIB
近两年复合增速
-0.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $994.2M |
| 净利润 | $-48.9M | $-276.6M |
| 毛利率 | 78.3% | — |
| 营业利润率 | -2.5% | -28.5% |
| 净利率 | -2.1% | -27.8% |
| 营收同比 | -7.1% | -0.8% |
| 净利润同比 | -118.3% | -28.9% |
| 每股收益（稀释后） | $-0.35 | $-5.57 |
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BIIBCRL
| Q4 25 | $2.3B | $994.2M | ||
| Q3 25 | $2.5B | $1.0B | ||
| Q2 25 | $2.6B | $1.0B | ||
| Q1 25 | $2.4B | $984.2M | ||
| Q4 24 | $2.5B | $1.0B | ||
| Q3 24 | $2.5B | $1.0B | ||
| Q2 24 | $2.5B | $1.0B | ||
| Q1 24 | $2.3B | $1.0B |
净利润BIIBCRL
| Q4 25 | $-48.9M | $-276.6M | ||
| Q3 25 | $466.5M | $54.4M | ||
| Q2 25 | $634.8M | $52.3M | ||
| Q1 25 | $240.5M | $25.5M | ||
| Q4 24 | $266.7M | $-214.5M | ||
| Q3 24 | $388.5M | $69.7M | ||
| Q2 24 | $583.6M | $94.1M | ||
| Q1 24 | $393.4M | $73.0M |
毛利率BIIBCRL
| Q4 25 | 78.3% | — | ||
| Q3 25 | 73.4% | — | ||
| Q2 25 | 77.1% | — | ||
| Q1 25 | 74.1% | — | ||
| Q4 24 | 76.2% | — | ||
| Q3 24 | 74.1% | 34.6% | ||
| Q2 24 | 77.8% | 34.5% | ||
| Q1 24 | 76.3% | 34.1% |
营业利润率BIIBCRL
| Q4 25 | -2.5% | -28.5% | ||
| Q3 25 | 22.0% | 13.3% | ||
| Q2 25 | 28.1% | 9.7% | ||
| Q1 25 | 12.8% | 7.6% | ||
| Q4 24 | 11.9% | -16.7% | ||
| Q3 24 | 18.3% | 11.6% | ||
| Q2 24 | 28.3% | 14.8% | ||
| Q1 24 | 20.3% | 12.5% |
净利率BIIBCRL
| Q4 25 | -2.1% | -27.8% | ||
| Q3 25 | 18.4% | 5.4% | ||
| Q2 25 | 24.0% | 5.1% | ||
| Q1 25 | 9.9% | 2.6% | ||
| Q4 24 | 10.9% | -21.4% | ||
| Q3 24 | 15.8% | 6.9% | ||
| Q2 24 | 23.7% | 9.2% | ||
| Q1 24 | 17.2% | 7.2% |
每股收益（稀释后）BIIBCRL
| Q4 25 | $-0.35 | $-5.57 | ||
| Q3 25 | $3.17 | $1.10 | ||
| Q2 25 | $4.33 | $1.06 | ||
| Q1 25 | $1.64 | $0.50 | ||
| Q4 24 | $1.82 | $-4.17 | ||
| Q3 24 | $2.66 | $1.33 | ||
| Q2 24 | $4.00 | $1.74 | ||
| Q1 24 | $2.70 | $1.30 |
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 | — | $213.8M |
| 总债务越低越好 | $6.3B | $2.1B |
| 股东权益账面价值 | $18.3B | $3.2B |
| 总资产 | $29.4B | $7.1B |
| 负债/权益比越低杠杆越低 | 0.34× | 0.68× |
8季度趋势，按日历期对齐
现金及短期投资BIIBCRL
| Q4 25 | — | $213.8M | ||
| Q3 25 | — | $207.1M | ||
| Q2 25 | — | $182.8M | ||
| Q1 25 | — | $229.4M | ||
| Q4 24 | — | $194.6M | ||
| Q3 24 | — | $210.2M | ||
| Q2 24 | — | $179.2M | ||
| Q1 24 | — | $327.0M |
总债务BIIBCRL
| Q4 25 | $6.3B | $2.1B | ||
| Q3 25 | $6.3B | $2.2B | ||
| Q2 25 | $6.3B | $2.3B | ||
| Q1 25 | $4.5B | $2.5B | ||
| Q4 24 | $6.3B | $2.2B | ||
| Q3 24 | $4.5B | $2.3B | ||
| Q2 24 | $6.3B | $2.4B | ||
| Q1 24 | $6.3B | $2.7B |
股东权益BIIBCRL
| Q4 25 | $18.3B | $3.2B | ||
| Q3 25 | $18.2B | $3.4B | ||
| Q2 25 | $17.6B | $3.4B | ||
| Q1 25 | $17.0B | $3.2B | ||
| Q4 24 | $16.7B | $3.5B | ||
| Q3 24 | $16.4B | $3.8B | ||
| Q2 24 | $15.9B | $3.7B | ||
| Q1 24 | $15.2B | $3.6B |
总资产BIIBCRL
| Q4 25 | $29.4B | $7.1B | ||
| Q3 25 | $29.2B | $7.5B | ||
| Q2 25 | $28.3B | $7.6B | ||
| Q1 25 | $28.0B | $7.6B | ||
| Q4 24 | $28.0B | $7.5B | ||
| Q3 24 | $28.3B | $8.0B | ||
| Q2 24 | $26.8B | $7.9B | ||
| Q1 24 | $26.6B | $8.2B |
负债/权益比BIIBCRL
| Q4 25 | 0.34× | 0.68× | ||
| Q3 25 | 0.35× | 0.64× | ||
| Q2 25 | 0.36× | 0.70× | ||
| Q1 25 | 0.27× | 0.79× | ||
| Q4 24 | 0.38× | 0.65× | ||
| Q3 24 | 0.28× | 0.62× | ||
| Q2 24 | 0.40× | 0.65× | ||
| Q1 24 | 0.41× | 0.73× |
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 | $511.9M | $147.5M |
| 自由现金流经营现金流 - 资本支出 | $468.0M | $58.6M |
| 自由现金流率自由现金流/营收 | 20.5% | 5.9% |
| 资本支出强度资本支出/营收 | 1.9% | 8.9% |
| 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 | $2.1B | $518.5M |
8季度趋势，按日历期对齐
经营现金流BIIBCRL
| Q4 25 | $511.9M | $147.5M | ||
| Q3 25 | $1.3B | $213.8M | ||
| Q2 25 | $160.9M | $204.6M | ||
| Q1 25 | $259.3M | $171.7M | ||
| Q4 24 | $760.9M | $159.4M | ||
| Q3 24 | $935.6M | $251.8M | ||
| Q2 24 | $625.8M | $193.5M | ||
| Q1 24 | $553.2M | $129.9M |
自由现金流BIIBCRL
| Q4 25 | $468.0M | $58.6M | ||
| Q3 25 | $1.2B | $178.2M | ||
| Q2 25 | $134.3M | $169.3M | ||
| Q1 25 | $222.2M | $112.4M | ||
| Q4 24 | $721.6M | $83.7M | ||
| Q3 24 | $900.6M | $213.1M | ||
| Q2 24 | $592.3M | $154.0M | ||
| Q1 24 | $507.3M | $50.7M |
自由现金流率BIIBCRL
| Q4 25 | 20.5% | 5.9% | ||
| Q3 25 | 48.4% | 17.7% | ||
| Q2 25 | 5.1% | 16.4% | ||
| Q1 25 | 9.1% | 11.4% | ||
| Q4 24 | 29.4% | 8.4% | ||
| Q3 24 | 36.5% | 21.1% | ||
| Q2 24 | 24.0% | 15.0% | ||
| Q1 24 | 22.1% | 5.0% |
资本支出强度BIIBCRL
| Q4 25 | 1.9% | 8.9% | ||
| Q3 25 | 1.8% | 3.5% | ||
| Q2 25 | 1.0% | 3.4% | ||
| Q1 25 | 1.5% | 6.0% | ||
| Q4 24 | 1.6% | 7.5% | ||
| Q3 24 | 1.4% | 3.8% | ||
| Q2 24 | 1.4% | 3.8% | ||
| Q1 24 | 2.0% | 7.8% |
现金转化率BIIBCRL
| Q4 25 | — | — | ||
| Q3 25 | 2.73× | 3.93× | ||
| Q2 25 | 0.25× | 3.91× | ||
| Q1 25 | 1.08× | 6.74× | ||
| Q4 24 | 2.85× | — | ||
| Q3 24 | 2.41× | 3.61× | ||
| Q2 24 | 1.07× | 2.06× | ||
| Q1 24 | 1.41× | 1.78× |
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
BIIB
| Products | $1.7B | 73% |
| Tysabri Product | $244.5M | 11% |
| AVONEX | $119.2M | 5% |
| SKYCLARYS | $88.9M | 4% |
| Alzheimers Collaboration | $47.1M | 2% |
| IMRALDI | $43.5M | 2% |
| TECFIDERA | $36.9M | 2% |
| PLEGRIDY | $24.7M | 1% |
| QALSODY | $7.8M | 0% |
| BYOOVIZ | $4.3M | 0% |
CRL
| Discovery And Safety Assessment Segment | $591.6M | 60% |
| Manufacturing Support Segment | $196.4M | 20% |
| Transferred At Point In Time | $108.0M | 11% |
| Transferred Over Time | $98.3M | 10% |
