vs
渤健（BIIB）与Masco（MAS）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Masco的1.4倍（$2.5B vs $1.8B），渤健净利率更高（12.9% vs 9.2%，领先3.7%），渤健同比增速更快（2.0% vs -1.9%），渤健自由现金流更多（$594.3M vs $371.0M），过去两年渤健的营收复合增速更高（0.3% vs -3.5%）
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。
美国家居建材企业Masco主营家装及新建住宅市场相关产品，旗下拥有20余家子公司，在全球运营近80座生产工厂，其中美国本土近60座，海外地区超20座。公司1969年于纽交所挂牌上市，后实现快速增长，成功跻身美国财富500强榜单。
BIIB vs MAS — 直观对比
营收规模更大
BIIB
是对方的1.4倍
$1.8B
营收增速更快
BIIB
高出3.9%
-1.9%
净利率更高
BIIB
高出3.7%
9.2%
自由现金流更多
BIIB
多$223.3M
$371.0M
两年增速更快
BIIB
近两年复合增速
-3.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $1.8B |
| 净利润 | $319.5M | $165.0M |
| 毛利率 | — | 33.9% |
| 营业利润率 | — | 13.8% |
| 净利率 | 12.9% | 9.2% |
| 营收同比 | 2.0% | -1.9% |
| 净利润同比 | 32.8% | -9.3% |
| 每股收益（稀释后） | $2.15 | $0.81 |
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BIIBMAS
| Q1 26 | $2.5B | — | ||
| Q4 25 | $2.3B | $1.8B | ||
| Q3 25 | $2.5B | $1.9B | ||
| Q2 25 | $2.6B | $2.1B | ||
| Q1 25 | $2.4B | $1.8B | ||
| Q4 24 | $2.5B | $1.8B | ||
| Q3 24 | $2.5B | $2.0B | ||
| Q2 24 | $2.5B | $2.1B |
净利润BIIBMAS
| Q1 26 | $319.5M | — | ||
| Q4 25 | $-48.9M | $165.0M | ||
| Q3 25 | $466.5M | $189.0M | ||
| Q2 25 | $634.8M | $270.0M | ||
| Q1 25 | $240.5M | $186.0M | ||
| Q4 24 | $266.7M | $182.0M | ||
| Q3 24 | $388.5M | $167.0M | ||
| Q2 24 | $583.6M | $258.0M |
毛利率BIIBMAS
| Q1 26 | — | — | ||
| Q4 25 | 78.3% | 33.9% | ||
| Q3 25 | 73.4% | 34.2% | ||
| Q2 25 | 77.1% | 37.6% | ||
| Q1 25 | 74.1% | 35.8% | ||
| Q4 24 | 76.2% | 34.8% | ||
| Q3 24 | 74.1% | 36.6% | ||
| Q2 24 | 77.8% | 37.5% |
营业利润率BIIBMAS
| Q1 26 | — | — | ||
| Q4 25 | -2.5% | 13.8% | ||
| Q3 25 | 22.0% | 15.8% | ||
| Q2 25 | 28.1% | 20.1% | ||
| Q1 25 | 12.8% | 15.9% | ||
| Q4 24 | 11.9% | 15.9% | ||
| Q3 24 | 18.3% | 18.0% | ||
| Q2 24 | 28.3% | 19.0% |
净利率BIIBMAS
| Q1 26 | 12.9% | — | ||
| Q4 25 | -2.1% | 9.2% | ||
| Q3 25 | 18.4% | 9.9% | ||
| Q2 25 | 24.0% | 13.2% | ||
| Q1 25 | 9.9% | 10.3% | ||
| Q4 24 | 10.9% | 10.0% | ||
| Q3 24 | 15.8% | 8.4% | ||
| Q2 24 | 23.7% | 12.3% |
每股收益（稀释后）BIIBMAS
| Q1 26 | $2.15 | — | ||
| Q4 25 | $-0.35 | $0.81 | ||
| Q3 25 | $3.17 | $0.90 | ||
| Q2 25 | $4.33 | $1.28 | ||
| Q1 25 | $1.64 | $0.87 | ||
| Q4 24 | $1.82 | $0.85 | ||
| Q3 24 | $2.66 | $0.77 | ||
| Q2 24 | $4.00 | $1.17 |
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 | $647.0M |
| 总债务越低越好 | — | $2.9B |
| 股东权益账面价值 | $18.7B | $-185.0M |
| 总资产 | $29.5B | $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BIIBMAS
| Q1 26 | $3.4B | — | ||
| Q4 25 | — | $647.0M | ||
| Q3 25 | — | $559.0M | ||
| Q2 25 | — | $390.0M | ||
| Q1 25 | — | $377.0M | ||
| Q4 24 | — | $634.0M | ||
| Q3 24 | — | $646.0M | ||
| Q2 24 | — | $398.0M |
总债务BIIBMAS
| Q1 26 | — | — | ||
| Q4 25 | $6.3B | $2.9B | ||
| Q3 25 | $6.3B | — | ||
| Q2 25 | $6.3B | — | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $6.3B | $2.9B | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $6.3B | — |
股东权益BIIBMAS
| Q1 26 | $18.7B | — | ||
| Q4 25 | $18.3B | $-185.0M | ||
| Q3 25 | $18.2B | $-78.0M | ||
| Q2 25 | $17.6B | $-84.0M | ||
| Q1 25 | $17.0B | $-254.0M | ||
| Q4 24 | $16.7B | $-279.0M | ||
| Q3 24 | $16.4B | $-88.0M | ||
| Q2 24 | $15.9B | $-26.0M |
总资产BIIBMAS
| Q1 26 | $29.5B | — | ||
| Q4 25 | $29.4B | $5.2B | ||
| Q3 25 | $29.2B | $5.3B | ||
| Q2 25 | $28.3B | $5.3B | ||
| Q1 25 | $28.0B | $5.1B | ||
| Q4 24 | $28.0B | $5.0B | ||
| Q3 24 | $28.3B | $5.3B | ||
| Q2 24 | $26.8B | $5.4B |
负债/权益比BIIBMAS
| 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 | — | $418.0M |
| 自由现金流经营现金流 - 资本支出 | $594.3M | $371.0M |
| 自由现金流率自由现金流/营收 | 24.0% | 20.7% |
| 资本支出强度资本支出/营收 | — | 2.6% |
| 现金转化率经营现金流/净利润 | — | 2.53× |
| 过去12个月自由现金流最近4个季度 | $2.4B | $866.0M |
8季度趋势，按日历期对齐
经营现金流BIIBMAS
| Q1 26 | — | — | ||
| Q4 25 | $511.9M | $418.0M | ||
| Q3 25 | $1.3B | $456.0M | ||
| Q2 25 | $160.9M | $306.0M | ||
| Q1 25 | $259.3M | $-158.0M | ||
| Q4 24 | $760.9M | $407.0M | ||
| Q3 24 | $935.6M | $416.0M | ||
| Q2 24 | $625.8M | $346.0M |
自由现金流BIIBMAS
| Q1 26 | $594.3M | — | ||
| Q4 25 | $468.0M | $371.0M | ||
| Q3 25 | $1.2B | $415.0M | ||
| Q2 25 | $134.3M | $270.0M | ||
| Q1 25 | $222.2M | $-190.0M | ||
| Q4 24 | $721.6M | $351.0M | ||
| Q3 24 | $900.6M | $378.0M | ||
| Q2 24 | $592.3M | $303.0M |
自由现金流率BIIBMAS
| Q1 26 | 24.0% | — | ||
| Q4 25 | 20.5% | 20.7% | ||
| Q3 25 | 48.4% | 21.6% | ||
| Q2 25 | 5.1% | 13.2% | ||
| Q1 25 | 9.1% | -10.5% | ||
| Q4 24 | 29.4% | 19.2% | ||
| Q3 24 | 36.5% | 19.1% | ||
| Q2 24 | 24.0% | 14.5% |
资本支出强度BIIBMAS
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 2.6% | ||
| Q3 25 | 1.8% | 2.1% | ||
| Q2 25 | 1.0% | 1.8% | ||
| Q1 25 | 1.5% | 1.8% | ||
| Q4 24 | 1.6% | 3.1% | ||
| Q3 24 | 1.4% | 1.9% | ||
| Q2 24 | 1.4% | 2.1% |
现金转化率BIIBMAS
| Q1 26 | — | — | ||
| Q4 25 | — | 2.53× | ||
| Q3 25 | 2.73× | 2.41× | ||
| Q2 25 | 0.25× | 1.13× | ||
| Q1 25 | 1.08× | -0.85× | ||
| Q4 24 | 2.85× | 2.24× | ||
| Q3 24 | 2.41× | 2.49× | ||
| Q2 24 | 1.07× | 1.34× |
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% |
MAS
| Plumbing Products | $844.0M | 47% |
| Decorative Architectural Products | $545.0M | 30% |
| Other | $404.0M | 23% |
