vs
渤健（BIIB）与安森美半导体（ON）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安森美半导体的1.5倍（$2.3B vs $1.6B），安森美半导体净利率更高（16.4% vs -2.1%，领先18.6%），渤健同比增速更快（-7.1% vs -10.0%），渤健自由现金流更多（$468.0M vs $372.4M），过去两年渤健的营收复合增速更高（-0.2% vs -12.3%）
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。
安森美半导体旗下原仙童半导体是总部位于美国加利福尼亚州圣何塞的半导体企业，1957年由从肖克利半导体实验室离职的“八叛逆”创立，是晶体管和集成电路制造领域的先驱，曾历经多次股权变更，1997年再度独立运营后并入安森美。
BIIB vs ON — 直观对比
营收规模更大
BIIB
是对方的1.5倍
$1.6B
营收增速更快
BIIB
高出2.8%
-10.0%
净利率更高
ON
高出18.6%
-2.1%
自由现金流更多
BIIB
多$95.6M
$372.4M
两年增速更快
BIIB
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $1.6B |
| 净利润 | $-48.9M | $255.0M |
| 毛利率 | 78.3% | 37.9% |
| 营业利润率 | -2.5% | 17.0% |
| 净利率 | -2.1% | 16.4% |
| 营收同比 | -7.1% | -10.0% |
| 净利润同比 | -118.3% | -32.9% |
| 每股收益（稀释后） | $-0.35 | $0.63 |
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BIIBON
| Q4 25 | $2.3B | $1.6B | ||
| Q3 25 | $2.5B | $1.5B | ||
| Q2 25 | $2.6B | $1.4B | ||
| Q1 25 | $2.4B | — | ||
| Q4 24 | $2.5B | $1.7B | ||
| Q3 24 | $2.5B | $1.8B | ||
| Q2 24 | $2.5B | $1.7B | ||
| Q1 24 | $2.3B | $1.9B |
净利润BIIBON
| Q4 25 | $-48.9M | $255.0M | ||
| Q3 25 | $466.5M | $170.3M | ||
| Q2 25 | $634.8M | $-486.1M | ||
| Q1 25 | $240.5M | — | ||
| Q4 24 | $266.7M | $379.9M | ||
| Q3 24 | $388.5M | $401.7M | ||
| Q2 24 | $583.6M | $338.2M | ||
| Q1 24 | $393.4M | $453.0M |
毛利率BIIBON
| Q4 25 | 78.3% | 37.9% | ||
| Q3 25 | 73.4% | 37.6% | ||
| Q2 25 | 77.1% | 20.3% | ||
| Q1 25 | 74.1% | — | ||
| Q4 24 | 76.2% | 45.2% | ||
| Q3 24 | 74.1% | 45.4% | ||
| Q2 24 | 77.8% | 45.2% | ||
| Q1 24 | 76.3% | 45.8% |
营业利润率BIIBON
| Q4 25 | -2.5% | 17.0% | ||
| Q3 25 | 22.0% | 13.2% | ||
| Q2 25 | 28.1% | -39.7% | ||
| Q1 25 | 12.8% | — | ||
| Q4 24 | 11.9% | 23.7% | ||
| Q3 24 | 18.3% | 25.3% | ||
| Q2 24 | 28.3% | 22.4% | ||
| Q1 24 | 20.3% | 28.2% |
净利率BIIBON
| Q4 25 | -2.1% | 16.4% | ||
| Q3 25 | 18.4% | 11.6% | ||
| Q2 25 | 24.0% | -33.6% | ||
| Q1 25 | 9.9% | — | ||
| Q4 24 | 10.9% | 22.1% | ||
| Q3 24 | 15.8% | 22.8% | ||
| Q2 24 | 23.7% | 19.5% | ||
| Q1 24 | 17.2% | 24.3% |
每股收益（稀释后）BIIBON
| Q4 25 | $-0.35 | $0.63 | ||
| Q3 25 | $3.17 | $0.41 | ||
| Q2 25 | $4.33 | $-1.15 | ||
| Q1 25 | $1.64 | — | ||
| Q4 24 | $1.82 | $0.88 | ||
| Q3 24 | $2.66 | $0.93 | ||
| Q2 24 | $4.00 | $0.78 | ||
| Q1 24 | $2.70 | $1.04 |
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 | — | $2.9B |
| 总债务越低越好 | $6.3B | $3.4B |
| 股东权益账面价值 | $18.3B | $7.9B |
| 总资产 | $29.4B | $13.0B |
| 负债/权益比越低杠杆越低 | 0.34× | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资BIIBON
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.6B |
总债务BIIBON
| Q4 25 | $6.3B | $3.4B | ||
| Q3 25 | $6.3B | $3.4B | ||
| Q2 25 | $6.3B | $3.4B | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $6.3B | $3.4B | ||
| Q3 24 | $4.5B | $3.4B | ||
| Q2 24 | $6.3B | $3.4B | ||
| Q1 24 | $6.3B | $3.4B |
股东权益BIIBON
| Q4 25 | $18.3B | $7.9B | ||
| Q3 25 | $18.2B | $7.9B | ||
| Q2 25 | $17.6B | $8.0B | ||
| Q1 25 | $17.0B | — | ||
| Q4 24 | $16.7B | $8.8B | ||
| Q3 24 | $16.4B | $8.6B | ||
| Q2 24 | $15.9B | $8.3B | ||
| Q1 24 | $15.2B | $8.1B |
总资产BIIBON
| Q4 25 | $29.4B | $13.0B | ||
| Q3 25 | $29.2B | $13.1B | ||
| Q2 25 | $28.3B | $13.3B | ||
| Q1 25 | $28.0B | — | ||
| Q4 24 | $28.0B | $14.1B | ||
| Q3 24 | $28.3B | $13.9B | ||
| Q2 24 | $26.8B | $13.7B | ||
| Q1 24 | $26.6B | $13.5B |
负债/权益比BIIBON
| Q4 25 | 0.34× | 0.43× | ||
| Q3 25 | 0.35× | 0.43× | ||
| Q2 25 | 0.36× | 0.42× | ||
| Q1 25 | 0.27× | — | ||
| Q4 24 | 0.38× | 0.38× | ||
| Q3 24 | 0.28× | 0.39× | ||
| Q2 24 | 0.40× | 0.41× | ||
| Q1 24 | 0.41× | 0.42× |
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 | $418.7M |
| 自由现金流经营现金流 - 资本支出 | $468.0M | $372.4M |
| 自由现金流率自由现金流/营收 | 20.5% | 24.0% |
| 资本支出强度资本支出/营收 | 1.9% | 3.0% |
| 现金转化率经营现金流/净利润 | — | 1.64× |
| 过去12个月自由现金流最近4个季度 | $2.1B | $1.4B |
8季度趋势，按日历期对齐
经营现金流BIIBON
| Q4 25 | $511.9M | $418.7M | ||
| Q3 25 | $1.3B | $184.3M | ||
| Q2 25 | $160.9M | $602.3M | ||
| Q1 25 | $259.3M | — | ||
| Q4 24 | $760.9M | $579.7M | ||
| Q3 24 | $935.6M | $465.8M | ||
| Q2 24 | $625.8M | $362.2M | ||
| Q1 24 | $553.2M | $498.7M |
自由现金流BIIBON
| Q4 25 | $468.0M | $372.4M | ||
| Q3 25 | $1.2B | $106.1M | ||
| Q2 25 | $134.3M | $454.7M | ||
| Q1 25 | $222.2M | — | ||
| Q4 24 | $721.6M | $434.8M | ||
| Q3 24 | $900.6M | $293.6M | ||
| Q2 24 | $592.3M | $207.7M | ||
| Q1 24 | $507.3M | $276.3M |
自由现金流率BIIBON
| Q4 25 | 20.5% | 24.0% | ||
| Q3 25 | 48.4% | 7.2% | ||
| Q2 25 | 5.1% | 31.5% | ||
| Q1 25 | 9.1% | — | ||
| Q4 24 | 29.4% | 25.2% | ||
| Q3 24 | 36.5% | 16.7% | ||
| Q2 24 | 24.0% | 12.0% | ||
| Q1 24 | 22.1% | 14.8% |
资本支出强度BIIBON
| Q4 25 | 1.9% | 3.0% | ||
| Q3 25 | 1.8% | 5.3% | ||
| Q2 25 | 1.0% | 10.2% | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.6% | 8.4% | ||
| Q3 24 | 1.4% | 9.8% | ||
| Q2 24 | 1.4% | 8.9% | ||
| Q1 24 | 2.0% | 11.9% |
现金转化率BIIBON
| Q4 25 | — | 1.64× | ||
| Q3 25 | 2.73× | 1.08× | ||
| Q2 25 | 0.25× | — | ||
| Q1 25 | 1.08× | — | ||
| Q4 24 | 2.85× | 1.53× | ||
| Q3 24 | 2.41× | 1.16× | ||
| Q2 24 | 1.07× | 1.07× | ||
| Q1 24 | 1.41× | 1.10× |
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% |
ON
| Industrial Segment | $426.3M | 27% |
| Other End Markets Segment | $337.3M | 22% |
| Intelligent Sensing Segments | $284.0M | 18% |
| Direct Customers | $282.4M | 18% |
| Intelligent Sensing Group | $230.0M | 15% |
