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渤健（BIIB）与KLA Corporation（KLAC）财务数据对比。点击上方公司名可切换其他公司
KLA Corporation的季度营收约是渤健的1.4倍（$3.3B vs $2.3B），KLA Corporation净利率更高（34.7% vs -2.1%，领先36.9%），KLA Corporation同比增速更快（7.2% vs -7.1%），KLA Corporation自由现金流更多（$1.3B vs $468.0M），过去两年KLA Corporation的营收复合增速更高（18.2% vs -0.2%）
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。
KLA Corporation是总部位于美国加利福尼亚州米尔皮塔斯的企业，主营晶圆制造设备，为半导体及相关纳米电子行业提供过程控制与良率管理系统，产品及服务覆盖晶圆、光罩、集成电路、封装生产从研发到批量制造的全流程。
BIIB vs KLAC — 直观对比
营收规模更大
KLAC
是对方的1.4倍
$2.3B
营收增速更快
KLAC
高出14.3%
-7.1%
净利率更高
KLAC
高出36.9%
-2.1%
自由现金流更多
KLAC
多$794.0M
$468.0M
两年增速更快
KLAC
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $3.3B |
| 净利润 | $-48.9M | $1.1B |
| 毛利率 | 78.3% | 61.4% |
| 营业利润率 | -2.5% | — |
| 净利率 | -2.1% | 34.7% |
| 营收同比 | -7.1% | 7.2% |
| 净利润同比 | -118.3% | 39.0% |
| 每股收益（稀释后） | $-0.35 | $8.68 |
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BIIBKLAC
| Q4 25 | $2.3B | $3.3B | ||
| Q3 25 | $2.5B | $3.2B | ||
| Q2 25 | $2.6B | $3.2B | ||
| Q1 25 | $2.4B | $3.1B | ||
| Q4 24 | $2.5B | $3.1B | ||
| Q3 24 | $2.5B | $2.8B | ||
| Q2 24 | $2.5B | $2.6B | ||
| Q1 24 | $2.3B | $2.4B |
净利润BIIBKLAC
| Q4 25 | $-48.9M | $1.1B | ||
| Q3 25 | $466.5M | $1.1B | ||
| Q2 25 | $634.8M | $1.2B | ||
| Q1 25 | $240.5M | $1.1B | ||
| Q4 24 | $266.7M | $824.5M | ||
| Q3 24 | $388.5M | $945.9M | ||
| Q2 24 | $583.6M | $836.4M | ||
| Q1 24 | $393.4M | $601.5M |
毛利率BIIBKLAC
| Q4 25 | 78.3% | 61.4% | ||
| Q3 25 | 73.4% | 61.3% | ||
| Q2 25 | 77.1% | 62.0% | ||
| Q1 25 | 74.1% | 61.6% | ||
| Q4 24 | 76.2% | 60.3% | ||
| Q3 24 | 74.1% | 59.6% | ||
| Q2 24 | 77.8% | 60.7% | ||
| Q1 24 | 76.3% | 57.9% |
营业利润率BIIBKLAC
| Q4 25 | -2.5% | — | ||
| Q3 25 | 22.0% | — | ||
| Q2 25 | 28.1% | 41.9% | ||
| Q1 25 | 12.8% | 41.3% | ||
| Q4 24 | 11.9% | 31.6% | ||
| Q3 24 | 18.3% | 38.0% | ||
| Q2 24 | 28.3% | 36.8% | ||
| Q1 24 | 20.3% | 29.7% |
净利率BIIBKLAC
| Q4 25 | -2.1% | 34.7% | ||
| Q3 25 | 18.4% | 34.9% | ||
| Q2 25 | 24.0% | 37.9% | ||
| Q1 25 | 9.9% | 35.5% | ||
| Q4 24 | 10.9% | 26.8% | ||
| Q3 24 | 15.8% | 33.3% | ||
| Q2 24 | 23.7% | 32.6% | ||
| Q1 24 | 17.2% | 25.5% |
每股收益（稀释后）BIIBKLAC
| Q4 25 | $-0.35 | $8.68 | ||
| Q3 25 | $3.17 | $8.47 | ||
| Q2 25 | $4.33 | $9.04 | ||
| Q1 25 | $1.64 | $8.16 | ||
| Q4 24 | $1.82 | $6.16 | ||
| Q3 24 | $2.66 | $7.01 | ||
| Q2 24 | $4.00 | $6.16 | ||
| Q1 24 | $2.70 | $4.43 |
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 | — | $2.5B |
| 总债务越低越好 | $6.3B | $5.9B |
| 股东权益账面价值 | $18.3B | $5.5B |
| 总资产 | $29.4B | $16.7B |
| 负债/权益比越低杠杆越低 | 0.34× | 1.08× |
8季度趋势，按日历期对齐
现金及短期投资BIIBKLAC
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $1.8B |
总债务BIIBKLAC
| Q4 25 | $6.3B | $5.9B | ||
| Q3 25 | $6.3B | $5.9B | ||
| Q2 25 | $6.3B | $5.9B | ||
| Q1 25 | $4.5B | $5.9B | ||
| Q4 24 | $6.3B | $5.9B | ||
| Q3 24 | $4.5B | $5.9B | ||
| Q2 24 | $6.3B | $5.9B | ||
| Q1 24 | $6.3B | $5.9B |
股东权益BIIBKLAC
| Q4 25 | $18.3B | $5.5B | ||
| Q3 25 | $18.2B | $5.0B | ||
| Q2 25 | $17.6B | $4.7B | ||
| Q1 25 | $17.0B | $4.0B | ||
| Q4 24 | $16.7B | $3.6B | ||
| Q3 24 | $16.4B | $3.6B | ||
| Q2 24 | $15.9B | $3.4B | ||
| Q1 24 | $15.2B | $3.1B |
总资产BIIBKLAC
| Q4 25 | $29.4B | $16.7B | ||
| Q3 25 | $29.2B | $16.3B | ||
| Q2 25 | $28.3B | $16.1B | ||
| Q1 25 | $28.0B | $15.2B | ||
| Q4 24 | $28.0B | $15.0B | ||
| Q3 24 | $28.3B | $15.7B | ||
| Q2 24 | $26.8B | $15.4B | ||
| Q1 24 | $26.6B | $15.0B |
负债/权益比BIIBKLAC
| Q4 25 | 0.34× | 1.08× | ||
| Q3 25 | 0.35× | 1.18× | ||
| Q2 25 | 0.36× | 1.25× | ||
| Q1 25 | 0.27× | 1.47× | ||
| Q4 24 | 0.38× | 1.64× | ||
| Q3 24 | 0.28× | 1.65× | ||
| Q2 24 | 0.40× | 1.75× | ||
| Q1 24 | 0.41× | 1.90× |
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 | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $468.0M | $1.3B |
| 自由现金流率自由现金流/营收 | 20.5% | 38.3% |
| 资本支出强度资本支出/营收 | 1.9% | 3.2% |
| 现金转化率经营现金流/净利润 | — | 1.19× |
| 过去12个月自由现金流最近4个季度 | $2.1B | $4.4B |
8季度趋势，按日历期对齐
经营现金流BIIBKLAC
| Q4 25 | $511.9M | $1.4B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $160.9M | $1.2B | ||
| Q1 25 | $259.3M | $1.1B | ||
| Q4 24 | $760.9M | $849.5M | ||
| Q3 24 | $935.6M | $995.2M | ||
| Q2 24 | $625.8M | $892.6M | ||
| Q1 24 | $553.2M | $910.0M |
自由现金流BIIBKLAC
| Q4 25 | $468.0M | $1.3B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $134.3M | $1.1B | ||
| Q1 25 | $222.2M | $990.0M | ||
| Q4 24 | $721.6M | $757.2M | ||
| Q3 24 | $900.6M | $934.8M | ||
| Q2 24 | $592.3M | $831.9M | ||
| Q1 24 | $507.3M | $838.2M |
自由现金流率BIIBKLAC
| Q4 25 | 20.5% | 38.3% | ||
| Q3 25 | 48.4% | 33.2% | ||
| Q2 25 | 5.1% | 33.5% | ||
| Q1 25 | 9.1% | 32.3% | ||
| Q4 24 | 29.4% | 24.6% | ||
| Q3 24 | 36.5% | 32.9% | ||
| Q2 24 | 24.0% | 32.4% | ||
| Q1 24 | 22.1% | 35.5% |
资本支出强度BIIBKLAC
| Q4 25 | 1.9% | 3.2% | ||
| Q3 25 | 1.8% | 3.0% | ||
| Q2 25 | 1.0% | 3.2% | ||
| Q1 25 | 1.5% | 2.7% | ||
| Q4 24 | 1.6% | 3.0% | ||
| Q3 24 | 1.4% | 2.1% | ||
| Q2 24 | 1.4% | 2.4% | ||
| Q1 24 | 2.0% | 3.0% |
现金转化率BIIBKLAC
| Q4 25 | — | 1.19× | ||
| Q3 25 | 2.73× | 1.04× | ||
| Q2 25 | 0.25× | 0.97× | ||
| Q1 25 | 1.08× | 0.99× | ||
| Q4 24 | 2.85× | 1.03× | ||
| Q3 24 | 2.41× | 1.05× | ||
| Q2 24 | 1.07× | 1.07× | ||
| Q1 24 | 1.41× | 1.51× |
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% |
KLAC
| Wafer Inspection | $1.6B | 48% |
| Services | $786.1M | 24% |
| Patterning | $696.2M | 21% |
| Specialty Semiconductor Process | $121.6M | 4% |
| PCB And Component Inspection | $80.3M | 2% |
| Other Revenue | $40.2M | 1% |
