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渤健（BIIB）与Deckers Brands（DECK）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Deckers Brands的1.3倍（$2.5B vs $2.0B），Deckers Brands净利率更高（24.6% vs 12.9%，领先11.7%），Deckers Brands同比增速更快（7.1% vs 2.0%），Deckers Brands自由现金流更多（$1.0B vs $594.3M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 0.3%）
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。
Deckers Brands是1973年成立的美国鞋履设计与分销企业，总部位于加利福尼亚州戈利塔，由道格·奥托与卡尔·F·洛普克共同创立。公司旗下拥有UGG、Teva、Hoka等全球知名鞋履品牌，产品覆盖休闲、户外等多个领域，销往世界多地。
BIIB vs DECK — 直观对比
营收规模更大
BIIB
是对方的1.3倍
$2.0B
营收增速更快
DECK
高出5.1%
2.0%
净利率更高
DECK
高出11.7%
12.9%
自由现金流更多
DECK
多$426.0M
$594.3M
两年增速更快
DECK
近两年复合增速
0.3%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $2.0B |
| 净利润 | $319.5M | $481.1M |
| 毛利率 | — | 59.8% |
| 营业利润率 | — | 31.4% |
| 净利率 | 12.9% | 24.6% |
| 营收同比 | 2.0% | 7.1% |
| 净利润同比 | 32.8% | 5.3% |
| 每股收益（稀释后） | $2.15 | $3.33 |
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BIIBDECK
| Q1 26 | $2.5B | — | ||
| Q4 25 | $2.3B | $2.0B | ||
| Q3 25 | $2.5B | $1.4B | ||
| Q2 25 | $2.6B | $964.5M | ||
| Q1 25 | $2.4B | $1.0B | ||
| Q4 24 | $2.5B | $1.8B | ||
| Q3 24 | $2.5B | $1.3B | ||
| Q2 24 | $2.5B | $825.3M |
净利润BIIBDECK
| Q1 26 | $319.5M | — | ||
| Q4 25 | $-48.9M | $481.1M | ||
| Q3 25 | $466.5M | $268.2M | ||
| Q2 25 | $634.8M | $139.2M | ||
| Q1 25 | $240.5M | $151.4M | ||
| Q4 24 | $266.7M | $456.7M | ||
| Q3 24 | $388.5M | $242.3M | ||
| Q2 24 | $583.6M | $115.6M |
毛利率BIIBDECK
| Q1 26 | — | — | ||
| Q4 25 | 78.3% | 59.8% | ||
| Q3 25 | 73.4% | 56.2% | ||
| Q2 25 | 77.1% | 55.8% | ||
| Q1 25 | 74.1% | 56.7% | ||
| Q4 24 | 76.2% | 60.3% | ||
| Q3 24 | 74.1% | 55.9% | ||
| Q2 24 | 77.8% | 56.9% |
营业利润率BIIBDECK
| Q1 26 | — | — | ||
| Q4 25 | -2.5% | 31.4% | ||
| Q3 25 | 22.0% | 22.8% | ||
| Q2 25 | 28.1% | 17.1% | ||
| Q1 25 | 12.8% | 17.0% | ||
| Q4 24 | 11.9% | 31.0% | ||
| Q3 24 | 18.3% | 23.3% | ||
| Q2 24 | 28.3% | 16.1% |
净利率BIIBDECK
| Q1 26 | 12.9% | — | ||
| Q4 25 | -2.1% | 24.6% | ||
| Q3 25 | 18.4% | 18.7% | ||
| Q2 25 | 24.0% | 14.4% | ||
| Q1 25 | 9.9% | 14.8% | ||
| Q4 24 | 10.9% | 25.0% | ||
| Q3 24 | 15.8% | 18.5% | ||
| Q2 24 | 23.7% | 14.0% |
每股收益（稀释后）BIIBDECK
| Q1 26 | $2.15 | — | ||
| Q4 25 | $-0.35 | $3.33 | ||
| Q3 25 | $3.17 | $1.82 | ||
| Q2 25 | $4.33 | $0.93 | ||
| Q1 25 | $1.64 | $-2.78 | ||
| Q4 24 | $1.82 | $3.00 | ||
| Q3 24 | $2.66 | $1.59 | ||
| Q2 24 | $4.00 | $4.52 |
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 | $3.4B | $2.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $18.7B | $2.6B |
| 总资产 | $29.5B | $4.1B |
| 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BIIBDECK
| Q1 26 | $3.4B | — | ||
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.4B |
总债务BIIBDECK
| Q1 26 | — | — | ||
| Q4 25 | $6.3B | — | ||
| Q3 25 | $6.3B | — | ||
| Q2 25 | $6.3B | — | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $6.3B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $6.3B | — |
股东权益BIIBDECK
| Q1 26 | $18.7B | — | ||
| Q4 25 | $18.3B | $2.6B | ||
| Q3 25 | $18.2B | $2.5B | ||
| Q2 25 | $17.6B | $2.5B | ||
| Q1 25 | $17.0B | $2.5B | ||
| Q4 24 | $16.7B | $2.6B | ||
| Q3 24 | $16.4B | $2.2B | ||
| Q2 24 | $15.9B | $2.1B |
总资产BIIBDECK
| Q1 26 | $29.5B | — | ||
| Q4 25 | $29.4B | $4.1B | ||
| Q3 25 | $29.2B | $3.8B | ||
| Q2 25 | $28.3B | $3.8B | ||
| Q1 25 | $28.0B | $3.6B | ||
| Q4 24 | $28.0B | $4.0B | ||
| Q3 24 | $28.3B | $3.4B | ||
| Q2 24 | $26.8B | $3.3B |
负债/权益比BIIBDECK
| Q1 26 | — | — | ||
| Q4 25 | 0.34× | — | ||
| Q3 25 | 0.35× | — | ||
| Q2 25 | 0.36× | — | ||
| Q1 25 | 0.27× | — | ||
| Q4 24 | 0.38× | — | ||
| Q3 24 | 0.28× | — | ||
| Q2 24 | 0.40× | — |
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 | — | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $594.3M | $1.0B |
| 自由现金流率自由现金流/营收 | 24.0% | 52.1% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | — | 2.17× |
| 过去12个月自由现金流最近4个季度 | $2.4B | $929.1M |
8季度趋势，按日历期对齐
经营现金流BIIBDECK
| Q1 26 | — | — | ||
| Q4 25 | $511.9M | $1.0B | ||
| Q3 25 | $1.3B | $8.1M | ||
| Q2 25 | $160.9M | $36.1M | ||
| Q1 25 | $259.3M | $-73.0M | ||
| Q4 24 | $760.9M | $1.1B | ||
| Q3 24 | $935.6M | $-90.5M | ||
| Q2 24 | $625.8M | $112.7M |
自由现金流BIIBDECK
| Q1 26 | $594.3M | — | ||
| Q4 25 | $468.0M | $1.0B | ||
| Q3 25 | $1.2B | $-13.9M | ||
| Q2 25 | $134.3M | $12.2M | ||
| Q1 25 | $222.2M | $-89.4M | ||
| Q4 24 | $721.6M | $1.1B | ||
| Q3 24 | $900.6M | $-113.4M | ||
| Q2 24 | $592.3M | $90.1M |
自由现金流率BIIBDECK
| Q1 26 | 24.0% | — | ||
| Q4 25 | 20.5% | 52.1% | ||
| Q3 25 | 48.4% | -1.0% | ||
| Q2 25 | 5.1% | 1.3% | ||
| Q1 25 | 9.1% | -8.8% | ||
| Q4 24 | 29.4% | 58.6% | ||
| Q3 24 | 36.5% | -8.6% | ||
| Q2 24 | 24.0% | 10.9% |
资本支出强度BIIBDECK
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 1.1% | ||
| Q3 25 | 1.8% | 1.5% | ||
| Q2 25 | 1.0% | 2.5% | ||
| Q1 25 | 1.5% | 1.6% | ||
| Q4 24 | 1.6% | 1.3% | ||
| Q3 24 | 1.4% | 1.7% | ||
| Q2 24 | 1.4% | 2.7% |
现金转化率BIIBDECK
| Q1 26 | — | — | ||
| Q4 25 | — | 2.17× | ||
| Q3 25 | 2.73× | 0.03× | ||
| Q2 25 | 0.25× | 0.26× | ||
| Q1 25 | 1.08× | -0.48× | ||
| Q4 24 | 2.85× | 2.40× | ||
| Q3 24 | 2.41× | -0.37× | ||
| Q2 24 | 1.07× | 0.97× |
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
| Product revenue, net | $1.8B | 71% |
| Royalty revenue on sales of OCREVUS | $317.2M | 13% |
| Contract manufacturing, royalty and other revenue | $246.9M | 10% |
| Biogen's share of pre-tax profits in the U.S. for RITUXAN, GAZYVA and LUNSUMIO | $94.7M | 4% |
| Alzheimer's collaboration Revenue | $59.5M | 2% |
| Other revenue from anti-CD20 therapeutic programs | $7.2M | 0% |
DECK
| UGG Brand Segment | $1.3B | 67% |
| Hoka Brand Segment | $628.9M | 32% |
| Other Brands Segment | $23.2M | 1% |
