vs
渤健（BIIB）与标普全球（VG）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2.0倍（$4.4B vs $2.3B），标普全球净利率更高（26.8% vs -2.1%，领先28.9%），标普全球同比增速更快（191.7% vs -7.1%），渤健自由现金流更多（$468.0M vs $-1.5B），过去两年标普全球的营收复合增速更高（77.3% 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与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
BIIB vs VG — 直观对比
营收规模更大
VG
是对方的2.0倍
$2.3B
营收增速更快
VG
高出198.8%
-7.1%
净利率更高
VG
高出28.9%
-2.1%
自由现金流更多
BIIB
多$2.0B
$-1.5B
两年增速更快
VG
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $4.4B |
| 净利润 | $-48.9M | $1.2B |
| 毛利率 | 78.3% | — |
| 营业利润率 | -2.5% | 38.7% |
| 净利率 | -2.1% | 26.8% |
| 营收同比 | -7.1% | 191.7% |
| 净利润同比 | -118.3% | 20.3% |
| 每股收益（稀释后） | $-0.35 | $0.41 |
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BIIBVG
| Q4 25 | $2.3B | $4.4B | ||
| Q3 25 | $2.5B | $3.3B | ||
| Q2 25 | $2.6B | $3.1B | ||
| Q1 25 | $2.4B | $2.9B | ||
| Q4 24 | $2.5B | $1.5B | ||
| Q3 24 | $2.5B | $926.0M | ||
| Q2 24 | $2.5B | $1.1B | ||
| Q1 24 | $2.3B | $1.4B |
净利润BIIBVG
| Q4 25 | $-48.9M | $1.2B | ||
| Q3 25 | $466.5M | $550.0M | ||
| Q2 25 | $634.8M | $475.0M | ||
| Q1 25 | $240.5M | $517.0M | ||
| Q4 24 | $266.7M | $990.0M | ||
| Q3 24 | $388.5M | $-294.0M | ||
| Q2 24 | $583.6M | $352.0M | ||
| Q1 24 | $393.4M | $698.0M |
毛利率BIIBVG
| Q4 25 | 78.3% | — | ||
| Q3 25 | 73.4% | — | ||
| Q2 25 | 77.1% | — | ||
| Q1 25 | 74.1% | — | ||
| Q4 24 | 76.2% | — | ||
| Q3 24 | 74.1% | — | ||
| Q2 24 | 77.8% | — | ||
| Q1 24 | 76.3% | — |
营业利润率BIIBVG
| Q4 25 | -2.5% | 38.7% | ||
| Q3 25 | 22.0% | 39.7% | ||
| Q2 25 | 28.1% | 33.5% | ||
| Q1 25 | 12.8% | 37.3% | ||
| Q4 24 | 11.9% | 39.0% | ||
| Q3 24 | 18.3% | 20.4% | ||
| Q2 24 | 28.3% | 32.8% | ||
| Q1 24 | 20.3% | 43.6% |
净利率BIIBVG
| Q4 25 | -2.1% | 26.8% | ||
| Q3 25 | 18.4% | 16.5% | ||
| Q2 25 | 24.0% | 15.3% | ||
| Q1 25 | 9.9% | 17.9% | ||
| Q4 24 | 10.9% | 65.0% | ||
| Q3 24 | 15.8% | -31.7% | ||
| Q2 24 | 23.7% | 31.8% | ||
| Q1 24 | 17.2% | 49.4% |
每股收益（稀释后）BIIBVG
| Q4 25 | $-0.35 | $0.41 | ||
| Q3 25 | $3.17 | $0.16 | ||
| Q2 25 | $4.33 | $0.14 | ||
| Q1 25 | $1.64 | $0.15 | ||
| Q4 24 | $1.82 | $0.35 | ||
| Q3 24 | $2.66 | $-0.15 | ||
| Q2 24 | $4.00 | $0.12 | ||
| Q1 24 | $2.70 | $0.25 |
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 | — | $2.4B |
| 总债务越低越好 | $6.3B | $34.2B |
| 股东权益账面价值 | $18.3B | $6.7B |
| 总资产 | $29.4B | $53.4B |
| 负债/权益比越低杠杆越低 | 0.34× | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资BIIBVG
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | — | $3.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
总债务BIIBVG
| Q4 25 | $6.3B | $34.2B | ||
| Q3 25 | $6.3B | $32.6B | ||
| Q2 25 | $6.3B | $30.0B | ||
| Q1 25 | $4.5B | $29.3B | ||
| Q4 24 | $6.3B | $29.3B | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $6.3B | — | ||
| Q1 24 | $6.3B | — |
股东权益BIIBVG
| Q4 25 | $18.3B | $6.7B | ||
| Q3 25 | $18.2B | $5.7B | ||
| Q2 25 | $17.6B | $5.3B | ||
| Q1 25 | $17.0B | $4.9B | ||
| Q4 24 | $16.7B | $2.9B | ||
| Q3 24 | $16.4B | — | ||
| Q2 24 | $15.9B | — | ||
| Q1 24 | $15.2B | — |
总资产BIIBVG
| Q4 25 | $29.4B | $53.4B | ||
| Q3 25 | $29.2B | $50.1B | ||
| Q2 25 | $28.3B | $46.5B | ||
| Q1 25 | $28.0B | $45.1B | ||
| Q4 24 | $28.0B | $43.5B | ||
| Q3 24 | $28.3B | — | ||
| Q2 24 | $26.8B | — | ||
| Q1 24 | $26.6B | — |
负债/权益比BIIBVG
| Q4 25 | 0.34× | 5.07× | ||
| Q3 25 | 0.35× | 5.73× | ||
| Q2 25 | 0.36× | 5.69× | ||
| Q1 25 | 0.27× | 6.01× | ||
| Q4 24 | 0.38× | 10.11× | ||
| Q3 24 | 0.28× | — | ||
| Q2 24 | 0.40× | — | ||
| Q1 24 | 0.41× | — |
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 | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $468.0M | $-1.5B |
| 自由现金流率自由现金流/营收 | 20.5% | -34.1% |
| 资本支出强度资本支出/营收 | 1.9% | 81.6% |
| 现金转化率经营现金流/净利润 | — | 1.77× |
| 过去12个月自由现金流最近4个季度 | $2.1B | $-6.8B |
8季度趋势，按日历期对齐
经营现金流BIIBVG
| Q4 25 | $511.9M | $2.1B | ||
| Q3 25 | $1.3B | $1.9B | ||
| Q2 25 | $160.9M | $1.5B | ||
| Q1 25 | $259.3M | $1.1B | ||
| Q4 24 | $760.9M | — | ||
| Q3 24 | $935.6M | — | ||
| Q2 24 | $625.8M | — | ||
| Q1 24 | $553.2M | $638.0M |
自由现金流BIIBVG
| Q4 25 | $468.0M | $-1.5B | ||
| Q3 25 | $1.2B | $-1.4B | ||
| Q2 25 | $134.3M | $-1.5B | ||
| Q1 25 | $222.2M | $-2.4B | ||
| Q4 24 | $721.6M | — | ||
| Q3 24 | $900.6M | — | ||
| Q2 24 | $592.3M | — | ||
| Q1 24 | $507.3M | $-2.4B |
自由现金流率BIIBVG
| Q4 25 | 20.5% | -34.1% | ||
| Q3 25 | 48.4% | -42.4% | ||
| Q2 25 | 5.1% | -49.1% | ||
| Q1 25 | 9.1% | -81.3% | ||
| Q4 24 | 29.4% | — | ||
| Q3 24 | 36.5% | — | ||
| Q2 24 | 24.0% | — | ||
| Q1 24 | 22.1% | -167.3% |
资本支出强度BIIBVG
| Q4 25 | 1.9% | 81.6% | ||
| Q3 25 | 1.8% | 98.9% | ||
| Q2 25 | 1.0% | 96.1% | ||
| Q1 25 | 1.5% | 119.8% | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 1.4% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 2.0% | 212.4% |
现金转化率BIIBVG
| Q4 25 | — | 1.77× | ||
| Q3 25 | 2.73× | 3.42× | ||
| Q2 25 | 0.25× | 3.07× | ||
| Q1 25 | 1.08× | 2.15× | ||
| Q4 24 | 2.85× | — | ||
| Q3 24 | 2.41× | — | ||
| Q2 24 | 1.07× | — | ||
| Q1 24 | 1.41× | 0.91× |
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% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
