vs
渤健（BIIB）与标普全球（SPGI）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是渤健的1.8倍（$4.2B vs $2.3B），标普全球净利率更高（36.1% vs -2.1%，领先38.2%），标普全球同比增速更快（10.0% vs -7.1%），标普全球自由现金流更多（$919.0M vs $468.0M），过去两年标普全球的营收复合增速更高（8.4% 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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息、数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球市场财智、标普全球能源、标普全球移动、印度信用评级机构CRISIL等业务板块，同时控股合资企业标普道琼斯指数。
BIIB vs SPGI — 直观对比
营收规模更大
SPGI
是对方的1.8倍
$2.3B
营收增速更快
SPGI
高出17.1%
-7.1%
净利率更高
SPGI
高出38.2%
-2.1%
自由现金流更多
SPGI
多$451.0M
$468.0M
两年增速更快
SPGI
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $4.2B |
| 净利润 | $-48.9M | $1.5B |
| 毛利率 | 78.3% | — |
| 营业利润率 | -2.5% | 48.0% |
| 净利率 | -2.1% | 36.1% |
| 营收同比 | -7.1% | 10.0% |
| 净利润同比 | -118.3% | 28.0% |
| 每股收益（稀释后） | $-0.35 | $4.69 |
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BIIBSPGI
| Q1 26 | — | $4.2B | ||
| Q4 25 | $2.3B | $3.9B | ||
| Q3 25 | $2.5B | $3.9B | ||
| Q2 25 | $2.6B | $3.8B | ||
| Q1 25 | $2.4B | $3.8B | ||
| Q4 24 | $2.5B | $3.6B | ||
| Q3 24 | $2.5B | $3.6B | ||
| Q2 24 | $2.5B | $3.5B |
净利润BIIBSPGI
| Q1 26 | — | $1.5B | ||
| Q4 25 | $-48.9M | $1.1B | ||
| Q3 25 | $466.5M | $1.2B | ||
| Q2 25 | $634.8M | $1.1B | ||
| Q1 25 | $240.5M | $1.1B | ||
| Q4 24 | $266.7M | $879.0M | ||
| Q3 24 | $388.5M | $971.0M | ||
| Q2 24 | $583.6M | $1.0B |
毛利率BIIBSPGI
| Q1 26 | — | — | ||
| Q4 25 | 78.3% | 70.1% | ||
| Q3 25 | 73.4% | 71.2% | ||
| Q2 25 | 77.1% | 70.2% | ||
| Q1 25 | 74.1% | 69.5% | ||
| Q4 24 | 76.2% | 69.8% | ||
| Q3 24 | 74.1% | 70.0% | ||
| Q2 24 | 77.8% | 69.4% |
营业利润率BIIBSPGI
| Q1 26 | — | 48.0% | ||
| Q4 25 | -2.5% | 42.7% | ||
| Q3 25 | 22.0% | 43.1% | ||
| Q2 25 | 28.1% | 41.3% | ||
| Q1 25 | 12.8% | 41.8% | ||
| Q4 24 | 11.9% | 36.4% | ||
| Q3 24 | 18.3% | 40.1% | ||
| Q2 24 | 28.3% | 40.9% |
净利率BIIBSPGI
| Q1 26 | — | 36.1% | ||
| Q4 25 | -2.1% | 28.9% | ||
| Q3 25 | 18.4% | 30.2% | ||
| Q2 25 | 24.0% | 28.5% | ||
| Q1 25 | 9.9% | 28.9% | ||
| Q4 24 | 10.9% | 24.5% | ||
| Q3 24 | 15.8% | 27.2% | ||
| Q2 24 | 23.7% | 28.5% |
每股收益（稀释后）BIIBSPGI
| Q1 26 | — | $4.69 | ||
| Q4 25 | $-0.35 | $3.76 | ||
| Q3 25 | $3.17 | $3.86 | ||
| Q2 25 | $4.33 | $3.50 | ||
| Q1 25 | $1.64 | $3.54 | ||
| Q4 24 | $1.82 | $2.85 | ||
| Q3 24 | $2.66 | $3.11 | ||
| Q2 24 | $4.00 | $3.23 |
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 | — | — |
| 总债务越低越好 | $6.3B | $13.3B |
| 股东权益账面价值 | $18.3B | $31.3B |
| 总资产 | $29.4B | $60.8B |
| 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BIIBSPGI
| Q1 26 | — | — | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $2.0B |
总债务BIIBSPGI
| Q1 26 | — | $13.3B | ||
| Q4 25 | $6.3B | $13.1B | ||
| Q3 25 | $6.3B | $11.4B | ||
| Q2 25 | $6.3B | $11.4B | ||
| Q1 25 | $4.5B | $11.4B | ||
| Q4 24 | $6.3B | $11.4B | ||
| Q3 24 | $4.5B | $11.4B | ||
| Q2 24 | $6.3B | $11.4B |
股东权益BIIBSPGI
| Q1 26 | — | $31.3B | ||
| Q4 25 | $18.3B | $31.1B | ||
| Q3 25 | $18.2B | $33.1B | ||
| Q2 25 | $17.6B | $33.4B | ||
| Q1 25 | $17.0B | $33.4B | ||
| Q4 24 | $16.7B | $33.2B | ||
| Q3 24 | $16.4B | $34.0B | ||
| Q2 24 | $15.9B | $34.9B |
总资产BIIBSPGI
| Q1 26 | — | $60.8B | ||
| Q4 25 | $29.4B | $61.2B | ||
| Q3 25 | $29.2B | $59.7B | ||
| Q2 25 | $28.3B | $60.4B | ||
| Q1 25 | $28.0B | $59.9B | ||
| Q4 24 | $28.0B | $60.2B | ||
| Q3 24 | $28.3B | $60.4B | ||
| Q2 24 | $26.8B | $61.0B |
负债/权益比BIIBSPGI
| Q1 26 | — | 0.43× | ||
| Q4 25 | 0.34× | 0.42× | ||
| Q3 25 | 0.35× | 0.34× | ||
| Q2 25 | 0.36× | 0.34× | ||
| Q1 25 | 0.27× | 0.34× | ||
| Q4 24 | 0.38× | 0.34× | ||
| Q3 24 | 0.28× | 0.34× | ||
| Q2 24 | 0.40× | 0.33× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $468.0M | $919.0M |
| 自由现金流率自由现金流/营收 | 20.5% | 22.0% |
| 资本支出强度资本支出/营收 | 1.9% | 0.6% |
| 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 | $2.1B | $5.5B |
8季度趋势，按日历期对齐
经营现金流BIIBSPGI
| Q1 26 | — | — | ||
| Q4 25 | $511.9M | $1.7B | ||
| Q3 25 | $1.3B | $1.5B | ||
| Q2 25 | $160.9M | $1.4B | ||
| Q1 25 | $259.3M | $953.0M | ||
| Q4 24 | $760.9M | $1.7B | ||
| Q3 24 | $935.6M | $1.4B | ||
| Q2 24 | $625.8M | $1.6B |
自由现金流BIIBSPGI
| Q1 26 | — | $919.0M | ||
| Q4 25 | $468.0M | $1.7B | ||
| Q3 25 | $1.2B | $1.5B | ||
| Q2 25 | $134.3M | $1.4B | ||
| Q1 25 | $222.2M | $910.0M | ||
| Q4 24 | $721.6M | $1.7B | ||
| Q3 24 | $900.6M | $1.4B | ||
| Q2 24 | $592.3M | $1.5B |
自由现金流率BIIBSPGI
| Q1 26 | — | 22.0% | ||
| Q4 25 | 20.5% | 43.5% | ||
| Q3 25 | 48.4% | 37.6% | ||
| Q2 25 | 5.1% | 36.9% | ||
| Q1 25 | 9.1% | 24.1% | ||
| Q4 24 | 29.4% | 47.5% | ||
| Q3 24 | 36.5% | 39.4% | ||
| Q2 24 | 24.0% | 42.9% |
资本支出强度BIIBSPGI
| Q1 26 | — | 0.6% | ||
| Q4 25 | 1.9% | 1.2% | ||
| Q3 25 | 1.8% | 1.2% | ||
| Q2 25 | 1.0% | 1.6% | ||
| Q1 25 | 1.5% | 1.1% | ||
| Q4 24 | 1.6% | 0.9% | ||
| Q3 24 | 1.4% | 1.0% | ||
| Q2 24 | 1.4% | 0.9% |
现金转化率BIIBSPGI
| Q1 26 | — | — | ||
| Q4 25 | — | 1.54× | ||
| Q3 25 | 2.73× | 1.28× | ||
| Q2 25 | 0.25× | 1.35× | ||
| Q1 25 | 1.08× | 0.87× | ||
| Q4 24 | 2.85× | 1.98× | ||
| Q3 24 | 2.41× | 1.49× | ||
| Q2 24 | 1.07× | 1.54× |
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% |
SPGI
| Ratings | $1.3B | 31% |
| Market Intelligence | $1.3B | 31% |
| Energy | $652.0M | 16% |
| Indices | $519.0M | 12% |
| Mobility | $454.0M | 11% |
