vs
伯乐实验室（BIO）与沃特世（WAT）财务数据对比。点击上方公司名可切换其他公司
沃特世的季度营收约是伯乐实验室的1.3倍（$932.4M vs $693.2M）。伯乐实验室净利率更高（103.9% vs 24.2%，领先79.7%）。沃特世同比增速更快（6.8% vs 3.9%）。过去两年沃特世的营收复合增速更高（21.0% vs 6.5%）
美国伯乐实验室是深耕生命科学研究与临床诊断领域的专业技术产品开发商及制造商，1952年由加州大学伯克利分校校友施瓦茨夫妇在伯克利创立，总部位于加州赫拉克勒斯，业务网络覆盖全球。
沃特世是总部位于美国马萨诸塞州米尔福德的企业，面向生命科学、材料、食品等行业，提供色谱、质谱、实验室信息学、流变测量领域所用的分析仪器及配套软件，为各领域的检测、研发等工作提供可靠技术支持。
BIO vs WAT — 直观对比
营收规模更大
WAT
是对方的1.3倍
$693.2M
营收增速更快
WAT
高出3.0%
3.9%
净利率更高
BIO
高出79.7%
24.2%
两年增速更快
WAT
近两年复合增速
6.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $693.2M | $932.4M |
| 净利润 | $720.0M | $225.2M |
| 毛利率 | 49.8% | 61.1% |
| 营业利润率 | -17.2% | 29.0% |
| 净利率 | 103.9% | 24.2% |
| 营收同比 | 3.9% | 6.8% |
| 净利润同比 | 200.6% | -2.7% |
| 每股收益（稀释后） | $26.59 | $3.76 |
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BIOWAT
| Q4 25 | $693.2M | $932.4M | ||
| Q3 25 | $653.0M | $799.9M | ||
| Q2 25 | $651.6M | $771.3M | ||
| Q1 25 | $585.4M | $661.7M | ||
| Q4 24 | $667.5M | $872.7M | ||
| Q3 24 | $649.7M | $740.3M | ||
| Q2 24 | $638.5M | $708.5M | ||
| Q1 24 | $610.8M | $636.8M |
净利润BIOWAT
| Q4 25 | $720.0M | $225.2M | ||
| Q3 25 | $-341.9M | $148.9M | ||
| Q2 25 | $317.8M | $147.1M | ||
| Q1 25 | $64.0M | $121.4M | ||
| Q4 24 | $-715.8M | $231.4M | ||
| Q3 24 | $653.2M | $161.5M | ||
| Q2 24 | $-2.2B | $142.7M | ||
| Q1 24 | $383.9M | $102.2M |
毛利率BIOWAT
| Q4 25 | 49.8% | 61.1% | ||
| Q3 25 | 52.6% | 59.0% | ||
| Q2 25 | 53.0% | 58.3% | ||
| Q1 25 | 52.3% | 58.2% | ||
| Q4 24 | 51.2% | 60.1% | ||
| Q3 24 | 54.8% | 59.3% | ||
| Q2 24 | 55.6% | 59.3% | ||
| Q1 24 | 53.4% | 58.9% |
营业利润率BIOWAT
| Q4 25 | -17.2% | 29.0% | ||
| Q3 25 | 10.0% | 24.0% | ||
| Q2 25 | 11.8% | 24.4% | ||
| Q1 25 | 4.0% | 22.9% | ||
| Q4 24 | 8.7% | 33.5% | ||
| Q3 24 | 9.9% | 28.5% | ||
| Q2 24 | 15.9% | 26.7% | ||
| Q1 24 | 7.3% | 21.0% |
净利率BIOWAT
| Q4 25 | 103.9% | 24.2% | ||
| Q3 25 | -52.4% | 18.6% | ||
| Q2 25 | 48.8% | 19.1% | ||
| Q1 25 | 10.9% | 18.3% | ||
| Q4 24 | -107.2% | 26.5% | ||
| Q3 24 | 100.5% | 21.8% | ||
| Q2 24 | -339.2% | 20.1% | ||
| Q1 24 | 62.9% | 16.0% |
每股收益（稀释后）BIOWAT
| Q4 25 | $26.59 | $3.76 | ||
| Q3 25 | $-12.70 | $2.50 | ||
| Q2 25 | $11.67 | $2.47 | ||
| Q1 25 | $2.29 | $2.03 | ||
| Q4 24 | $-25.89 | $3.88 | ||
| Q3 24 | $23.34 | $2.71 | ||
| Q2 24 | $-76.26 | $2.40 | ||
| Q1 24 | $13.45 | $1.72 |
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 | $1.5B | $587.8M |
| 总债务越低越好 | $1.2B | $1.4B |
| 股东权益账面价值 | $7.5B | $2.6B |
| 总资产 | $10.6B | $5.1B |
| 负债/权益比越低杠杆越低 | 0.16× | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资BIOWAT
| Q4 25 | $1.5B | $587.8M | ||
| Q3 25 | $1.4B | $459.1M | ||
| Q2 25 | $1.4B | $367.2M | ||
| Q1 25 | $1.7B | $382.9M | ||
| Q4 24 | $1.7B | $325.4M | ||
| Q3 24 | $1.6B | $331.5M | ||
| Q2 24 | $1.6B | $327.4M | ||
| Q1 24 | $1.6B | $338.2M |
总债务BIOWAT
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.2B | $1.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益BIOWAT
| Q4 25 | $7.5B | $2.6B | ||
| Q3 25 | $6.7B | $2.3B | ||
| Q2 25 | $7.1B | $2.2B | ||
| Q1 25 | $6.7B | $2.0B | ||
| Q4 24 | $6.6B | $1.8B | ||
| Q3 24 | $7.5B | $1.6B | ||
| Q2 24 | $6.8B | $1.4B | ||
| Q1 24 | $9.1B | $1.3B |
总资产BIOWAT
| Q4 25 | $10.6B | $5.1B | ||
| Q3 25 | $9.7B | $4.9B | ||
| Q2 25 | $10.2B | $4.7B | ||
| Q1 25 | $9.5B | $4.6B | ||
| Q4 24 | $9.4B | $4.6B | ||
| Q3 24 | $10.6B | $4.5B | ||
| Q2 24 | $9.7B | $4.4B | ||
| Q1 24 | $12.6B | $4.5B |
负债/权益比BIOWAT
| Q4 25 | 0.16× | 0.55× | ||
| Q3 25 | 0.18× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.18× | 0.89× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $164.9M | $164.6M |
| 自由现金流经营现金流 - 资本支出 | $119.1M | — |
| 自由现金流率自由现金流/营收 | 17.2% | — |
| 资本支出强度资本支出/营收 | 6.6% | — |
| 现金转化率经营现金流/净利润 | 0.23× | 0.73× |
| 过去12个月自由现金流最近4个季度 | $374.6M | — |
8季度趋势，按日历期对齐
经营现金流BIOWAT
| Q4 25 | $164.9M | $164.6M | ||
| Q3 25 | $120.9M | $187.3M | ||
| Q2 25 | $116.5M | $41.1M | ||
| Q1 25 | $129.9M | $259.6M | ||
| Q4 24 | $124.2M | $240.1M | ||
| Q3 24 | $163.6M | $204.6M | ||
| Q2 24 | $97.6M | $54.5M | ||
| Q1 24 | $69.8M | $262.9M |
自由现金流BIOWAT
| Q4 25 | $119.1M | — | ||
| Q3 25 | $89.2M | — | ||
| Q2 25 | $70.8M | — | ||
| Q1 25 | $95.5M | — | ||
| Q4 24 | $81.2M | — | ||
| Q3 24 | $123.4M | — | ||
| Q2 24 | $55.4M | — | ||
| Q1 24 | $29.6M | — |
自由现金流率BIOWAT
| Q4 25 | 17.2% | — | ||
| Q3 25 | 13.7% | — | ||
| Q2 25 | 10.9% | — | ||
| Q1 25 | 16.3% | — | ||
| Q4 24 | 12.2% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 8.7% | — | ||
| Q1 24 | 4.8% | — |
资本支出强度BIOWAT
| Q4 25 | 6.6% | — | ||
| Q3 25 | 4.9% | — | ||
| Q2 25 | 7.0% | — | ||
| Q1 25 | 5.9% | — | ||
| Q4 24 | 6.4% | — | ||
| Q3 24 | 6.2% | — | ||
| Q2 24 | 6.6% | — | ||
| Q1 24 | 6.6% | — |
现金转化率BIOWAT
| Q4 25 | 0.23× | 0.73× | ||
| Q3 25 | — | 1.26× | ||
| Q2 25 | 0.37× | 0.28× | ||
| Q1 25 | 2.03× | 2.14× | ||
| Q4 24 | — | 1.04× | ||
| Q3 24 | 0.25× | 1.27× | ||
| Q2 24 | — | 0.38× | ||
| Q1 24 | 0.18× | 2.57× |
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
BIO
| Clinical Diagnostics | $425.3M | 61% |
| Life Science | $267.9M | 39% |
WAT
暂无分部数据
