vs
渤健（BIIB）与美泰（MAT）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美泰的2.9倍（$2.5B vs $862.2M），渤健净利率更高（12.9% vs 7.1%，领先5.8%），美泰同比增速更快（4.3% vs 2.0%），渤健自由现金流更多（$594.3M vs $-88.1M），过去两年渤健的营收复合增速更高（0.3% vs -10.6%）
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。
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
BIIB vs MAT — 直观对比
营收规模更大
BIIB
是对方的2.9倍
$862.2M
营收增速更快
MAT
高出2.3%
2.0%
净利率更高
BIIB
高出5.8%
7.1%
自由现金流更多
BIIB
多$682.4M
$-88.1M
两年增速更快
BIIB
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $862.2M |
| 净利润 | $319.5M | $61.0M |
| 毛利率 | — | 44.9% |
| 营业利润率 | — | — |
| 净利率 | 12.9% | 7.1% |
| 营收同比 | 2.0% | 4.3% |
| 净利润同比 | 32.8% | 251.4% |
| 每股收益（稀释后） | $2.15 | $0.20 |
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BIIBMAT
| Q1 26 | $2.5B | $862.2M | ||
| Q4 25 | $2.3B | $1.8B | ||
| Q3 25 | $2.5B | $1.7B | ||
| Q2 25 | $2.6B | $1.0B | ||
| Q1 25 | $2.4B | $826.6M | ||
| Q4 24 | $2.5B | $1.6B | ||
| Q3 24 | $2.5B | $1.8B | ||
| Q2 24 | $2.5B | $1.1B |
净利润BIIBMAT
| Q1 26 | $319.5M | $61.0M | ||
| Q4 25 | $-48.9M | $106.2M | ||
| Q3 25 | $466.5M | $278.4M | ||
| Q2 25 | $634.8M | $53.4M | ||
| Q1 25 | $240.5M | $-40.3M | ||
| Q4 24 | $266.7M | $140.9M | ||
| Q3 24 | $388.5M | $372.4M | ||
| Q2 24 | $583.6M | $56.9M |
毛利率BIIBMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | 78.3% | 45.9% | ||
| Q3 25 | 73.4% | 50.0% | ||
| Q2 25 | 77.1% | 50.9% | ||
| Q1 25 | 74.1% | 49.4% | ||
| Q4 24 | 76.2% | 50.7% | ||
| Q3 24 | 74.1% | 53.1% | ||
| Q2 24 | 77.8% | 49.2% |
营业利润率BIIBMAT
| Q1 26 | — | — | ||
| Q4 25 | -2.5% | 8.0% | ||
| Q3 25 | 22.0% | 21.9% | ||
| Q2 25 | 28.1% | 7.7% | ||
| Q1 25 | 12.8% | -6.4% | ||
| Q4 24 | 11.9% | 9.6% | ||
| Q3 24 | 18.3% | 26.5% | ||
| Q2 24 | 28.3% | 7.7% |
净利率BIIBMAT
| Q1 26 | 12.9% | 7.1% | ||
| Q4 25 | -2.1% | 6.0% | ||
| Q3 25 | 18.4% | 16.0% | ||
| Q2 25 | 24.0% | 5.2% | ||
| Q1 25 | 9.9% | -4.9% | ||
| Q4 24 | 10.9% | 8.6% | ||
| Q3 24 | 15.8% | 20.2% | ||
| Q2 24 | 23.7% | 5.3% |
每股收益（稀释后）BIIBMAT
| Q1 26 | $2.15 | $0.20 | ||
| Q4 25 | $-0.35 | $0.32 | ||
| Q3 25 | $3.17 | $0.88 | ||
| Q2 25 | $4.33 | $0.16 | ||
| Q1 25 | $1.64 | $-0.12 | ||
| Q4 24 | $1.82 | $0.40 | ||
| Q3 24 | $2.66 | $1.09 | ||
| Q2 24 | $4.00 | $0.17 |
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 | $866.0M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $18.7B | $2.1B |
| 总资产 | $29.5B | $6.3B |
| 负债/权益比越低杠杆越低 | — | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资BIIBMAT
| Q1 26 | $3.4B | $866.0M | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $691.9M | ||
| Q2 25 | — | $870.5M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $723.5M | ||
| Q2 24 | — | $722.4M |
总债务BIIBMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | $6.3B | $2.3B | ||
| Q3 25 | $6.3B | $2.3B | ||
| Q2 25 | $6.3B | $2.3B | ||
| Q1 25 | $4.5B | $2.3B | ||
| Q4 24 | $6.3B | $2.3B | ||
| Q3 24 | $4.5B | $2.3B | ||
| Q2 24 | $6.3B | $2.3B |
股东权益BIIBMAT
| Q1 26 | $18.7B | $2.1B | ||
| Q4 25 | $18.3B | $2.2B | ||
| Q3 25 | $18.2B | $2.3B | ||
| Q2 25 | $17.6B | $2.2B | ||
| Q1 25 | $17.0B | $2.1B | ||
| Q4 24 | $16.7B | $2.3B | ||
| Q3 24 | $16.4B | $2.3B | ||
| Q2 24 | $15.9B | $2.0B |
总资产BIIBMAT
| Q1 26 | $29.5B | $6.3B | ||
| Q4 25 | $29.4B | $6.6B | ||
| Q3 25 | $29.2B | $6.6B | ||
| Q2 25 | $28.3B | $6.2B | ||
| Q1 25 | $28.0B | $6.2B | ||
| Q4 24 | $28.0B | $6.5B | ||
| Q3 24 | $28.3B | $6.5B | ||
| Q2 24 | $26.8B | $5.9B |
负债/权益比BIIBMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | 0.34× | 1.04× | ||
| Q3 25 | 0.35× | 1.03× | ||
| Q2 25 | 0.36× | 1.08× | ||
| Q1 25 | 0.27× | 1.10× | ||
| Q4 24 | 0.38× | 1.03× | ||
| Q3 24 | 0.28× | 1.01× | ||
| Q2 24 | 0.40× | 1.18× |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $594.3M | $-88.1M |
| 自由现金流率自由现金流/营收 | 24.0% | -10.2% |
| 资本支出强度资本支出/营收 | — | 7.6% |
| 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 | $2.4B | — |
8季度趋势，按日历期对齐
经营现金流BIIBMAT
| Q1 26 | — | — | ||
| Q4 25 | $511.9M | $796.6M | ||
| Q3 25 | $1.3B | $72.0M | ||
| Q2 25 | $160.9M | $-300.1M | ||
| Q1 25 | $259.3M | $24.8M | ||
| Q4 24 | $760.9M | $862.1M | ||
| Q3 24 | $935.6M | $155.8M | ||
| Q2 24 | $625.8M | $-252.9M |
自由现金流BIIBMAT
| Q1 26 | $594.3M | $-88.1M | ||
| Q4 25 | $468.0M | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $134.3M | — | ||
| Q1 25 | $222.2M | — | ||
| Q4 24 | $721.6M | — | ||
| Q3 24 | $900.6M | — | ||
| Q2 24 | $592.3M | — |
自由现金流率BIIBMAT
| Q1 26 | 24.0% | -10.2% | ||
| Q4 25 | 20.5% | — | ||
| Q3 25 | 48.4% | — | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 9.1% | — | ||
| Q4 24 | 29.4% | — | ||
| Q3 24 | 36.5% | — | ||
| Q2 24 | 24.0% | — |
资本支出强度BIIBMAT
| Q1 26 | — | 7.6% | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 1.4% | — | ||
| Q2 24 | 1.4% | — |
现金转化率BIIBMAT
| Q1 26 | — | — | ||
| Q4 25 | — | 7.50× | ||
| Q3 25 | 2.73× | 0.26× | ||
| Q2 25 | 0.25× | -5.62× | ||
| Q1 25 | 1.08× | — | ||
| Q4 24 | 2.85× | 6.12× | ||
| Q3 24 | 2.41× | 0.42× | ||
| Q2 24 | 1.07× | -4.45× |
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% |
MAT
暂无分部数据
