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渤健（BIIB）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是渤健的1.7倍（$4.3B vs $2.5B），皇家加勒比集团净利率更高（17.7% vs 12.9%，领先4.8%），皇家加勒比集团同比增速更快（13.3% vs 2.0%），渤健自由现金流更多（$594.3M vs $116.0M），过去两年皇家加勒比集团的营收复合增速更高（6.9% 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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
BIIB vs RCL — 直观对比
营收规模更大
RCL
是对方的1.7倍
$2.5B
营收增速更快
RCL
高出11.3%
2.0%
净利率更高
RCL
高出4.8%
12.9%
自由现金流更多
BIIB
多$478.3M
$116.0M
两年增速更快
RCL
近两年复合增速
0.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $4.3B |
| 净利润 | $319.5M | $753.0M |
| 毛利率 | — | 47.4% |
| 营业利润率 | — | 21.9% |
| 净利率 | 12.9% | 17.7% |
| 营收同比 | 2.0% | 13.3% |
| 净利润同比 | 32.8% | 36.4% |
| 每股收益（稀释后） | $2.15 | $2.76 |
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BIIBRCL
| Q1 26 | $2.5B | — | ||
| Q4 25 | $2.3B | $4.3B | ||
| Q3 25 | $2.5B | $5.1B | ||
| Q2 25 | $2.6B | $4.5B | ||
| Q1 25 | $2.4B | $4.0B | ||
| Q4 24 | $2.5B | $3.8B | ||
| Q3 24 | $2.5B | $4.9B | ||
| Q2 24 | $2.5B | $4.1B |
净利润BIIBRCL
| Q1 26 | $319.5M | — | ||
| Q4 25 | $-48.9M | $753.0M | ||
| Q3 25 | $466.5M | $1.6B | ||
| Q2 25 | $634.8M | $1.2B | ||
| Q1 25 | $240.5M | $730.0M | ||
| Q4 24 | $266.7M | $552.0M | ||
| Q3 24 | $388.5M | $1.1B | ||
| Q2 24 | $583.6M | $854.0M |
毛利率BIIBRCL
| Q1 26 | — | — | ||
| Q4 25 | 78.3% | 47.4% | ||
| Q3 25 | 73.4% | 51.8% | ||
| Q2 25 | 77.1% | 49.7% | ||
| Q1 25 | 74.1% | 48.0% | ||
| Q4 24 | 76.2% | 45.4% | ||
| Q3 24 | 74.1% | 51.1% | ||
| Q2 24 | 77.8% | 47.6% |
营业利润率BIIBRCL
| Q1 26 | — | — | ||
| Q4 25 | -2.5% | 21.9% | ||
| Q3 25 | 22.0% | 33.1% | ||
| Q2 25 | 28.1% | 29.3% | ||
| Q1 25 | 12.8% | 23.6% | ||
| Q4 24 | 11.9% | 16.6% | ||
| Q3 24 | 18.3% | 33.4% | ||
| Q2 24 | 28.3% | 26.7% |
净利率BIIBRCL
| Q1 26 | 12.9% | — | ||
| Q4 25 | -2.1% | 17.7% | ||
| Q3 25 | 18.4% | 30.6% | ||
| Q2 25 | 24.0% | 26.7% | ||
| Q1 25 | 9.9% | 18.3% | ||
| Q4 24 | 10.9% | 14.7% | ||
| Q3 24 | 15.8% | 22.7% | ||
| Q2 24 | 23.7% | 20.8% |
每股收益（稀释后）BIIBRCL
| Q1 26 | $2.15 | — | ||
| Q4 25 | $-0.35 | $2.76 | ||
| Q3 25 | $3.17 | $5.74 | ||
| Q2 25 | $4.33 | $4.41 | ||
| Q1 25 | $1.64 | $2.70 | ||
| Q4 24 | $1.82 | $2.27 | ||
| Q3 24 | $2.66 | $4.21 | ||
| Q2 24 | $4.00 | $3.11 |
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 | $825.0M |
| 总债务越低越好 | — | $18.2B |
| 股东权益账面价值 | $18.7B | $10.0B |
| 总资产 | $29.5B | $41.6B |
| 负债/权益比越低杠杆越低 | — | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资BIIBRCL
| Q1 26 | $3.4B | — | ||
| Q4 25 | — | $825.0M | ||
| Q3 25 | — | $432.0M | ||
| Q2 25 | — | $735.0M | ||
| Q1 25 | — | $386.0M | ||
| Q4 24 | — | $388.0M | ||
| Q3 24 | — | $418.0M | ||
| Q2 24 | — | $391.0M |
总债务BIIBRCL
| Q1 26 | — | — | ||
| Q4 25 | $6.3B | $18.2B | ||
| Q3 25 | $6.3B | $17.2B | ||
| Q2 25 | $6.3B | $17.6B | ||
| Q1 25 | $4.5B | $18.0B | ||
| Q4 24 | $6.3B | $18.5B | ||
| Q3 24 | $4.5B | $19.0B | ||
| Q2 24 | $6.3B | $19.8B |
股东权益BIIBRCL
| Q1 26 | $18.7B | — | ||
| Q4 25 | $18.3B | $10.0B | ||
| Q3 25 | $18.2B | $10.1B | ||
| Q2 25 | $17.6B | $9.2B | ||
| Q1 25 | $17.0B | $8.0B | ||
| Q4 24 | $16.7B | $7.6B | ||
| Q3 24 | $16.4B | $7.0B | ||
| Q2 24 | $15.9B | $6.0B |
总资产BIIBRCL
| Q1 26 | $29.5B | — | ||
| Q4 25 | $29.4B | $41.6B | ||
| Q3 25 | $29.2B | $40.1B | ||
| Q2 25 | $28.3B | $38.5B | ||
| Q1 25 | $28.0B | $37.5B | ||
| Q4 24 | $28.0B | $37.1B | ||
| Q3 24 | $28.3B | $37.1B | ||
| Q2 24 | $26.8B | $37.0B |
负债/权益比BIIBRCL
| Q1 26 | — | — | ||
| Q4 25 | 0.34× | 1.81× | ||
| Q3 25 | 0.35× | 1.70× | ||
| Q2 25 | 0.36× | 1.92× | ||
| Q1 25 | 0.27× | 2.26× | ||
| Q4 24 | 0.38× | 2.44× | ||
| Q3 24 | 0.28× | 2.69× | ||
| Q2 24 | 0.40× | 3.29× |
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 | — | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $594.3M | $116.0M |
| 自由现金流率自由现金流/营收 | 24.0% | 2.7% |
| 资本支出强度资本支出/营收 | — | 35.4% |
| 现金转化率经营现金流/净利润 | — | 2.16× |
| 过去12个月自由现金流最近4个季度 | $2.4B | $1.2B |
8季度趋势，按日历期对齐
经营现金流BIIBRCL
| Q1 26 | — | — | ||
| Q4 25 | $511.9M | $1.6B | ||
| Q3 25 | $1.3B | $1.5B | ||
| Q2 25 | $160.9M | $1.7B | ||
| Q1 25 | $259.3M | $1.6B | ||
| Q4 24 | $760.9M | $1.5B | ||
| Q3 24 | $935.6M | $897.0M | ||
| Q2 24 | $625.8M | $1.6B |
自由现金流BIIBRCL
| Q1 26 | $594.3M | — | ||
| Q4 25 | $468.0M | $116.0M | ||
| Q3 25 | $1.2B | $-989.0M | ||
| Q2 25 | $134.3M | $910.0M | ||
| Q1 25 | $222.2M | $1.2B | ||
| Q4 24 | $721.6M | $915.0M | ||
| Q3 24 | $900.6M | $563.0M | ||
| Q2 24 | $592.3M | $-567.0M |
自由现金流率BIIBRCL
| Q1 26 | 24.0% | — | ||
| Q4 25 | 20.5% | 2.7% | ||
| Q3 25 | 48.4% | -19.2% | ||
| Q2 25 | 5.1% | 20.1% | ||
| Q1 25 | 9.1% | 30.0% | ||
| Q4 24 | 29.4% | 24.3% | ||
| Q3 24 | 36.5% | 11.5% | ||
| Q2 24 | 24.0% | -13.8% |
资本支出强度BIIBRCL
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 35.4% | ||
| Q3 25 | 1.8% | 47.8% | ||
| Q2 25 | 1.0% | 18.4% | ||
| Q1 25 | 1.5% | 10.7% | ||
| Q4 24 | 1.6% | 14.7% | ||
| Q3 24 | 1.4% | 6.8% | ||
| Q2 24 | 1.4% | 52.1% |
现金转化率BIIBRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 2.16× | ||
| Q3 25 | 2.73× | 0.93× | ||
| Q2 25 | 0.25× | 1.44× | ||
| Q1 25 | 1.08× | 2.23× | ||
| Q4 24 | 2.85× | 2.66× | ||
| Q3 24 | 2.41× | 0.81× | ||
| Q2 24 | 1.07× | 1.84× |
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% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
