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BJ's Wholesale Club Holdings, Inc.（BJ）与福泰制药（VRTX）财务数据对比。点击上方公司名可切换其他公司
BJ's Wholesale Club Holdings, Inc.的季度营收约是福泰制药的1.7倍（$5.3B vs $3.2B），福泰制药净利率更高（37.3% vs 2.8%，领先34.5%），福泰制药同比增速更快（9.5% vs 4.9%），福泰制药自由现金流更多（$348.6M vs $-13.7M），过去两年福泰制药的营收复合增速更高（8.9% vs -0.1%）
BJ's Wholesale Club Holdings是美国区域型会员制仓储连锁商超，总部位于马萨诸塞州马尔伯勒，业务覆盖美国东部地区及俄亥俄、密歇根、肯塔基州路易斯维尔、印第安纳、田纳西、佛罗里达、阿拉巴马等地，主要竞争对手为好市多和山姆会员店。
福泰制药是总部位于美国马萨诸塞州波士顿的生物制药企业，是全球首批明确采用理性药物设计策略、而非组合化学方法开发药物的生物技术公司之一。除波士顿总部外，公司还在加州圣迭戈、英国牛津郡米尔顿公园设有三处研发中心。
BJ vs VRTX — 直观对比
营收规模更大
BJ
是对方的1.7倍
$3.2B
营收增速更快
VRTX
高出4.7%
4.9%
净利率更高
VRTX
高出34.5%
2.8%
自由现金流更多
VRTX
多$362.3M
$-13.7M
两年增速更快
VRTX
近两年复合增速
-0.1%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $3.2B |
| 净利润 | $152.1M | $1.2B |
| 毛利率 | 19.0% | 85.4% |
| 营业利润率 | 4.1% | 37.8% |
| 净利率 | 2.8% | 37.3% |
| 营收同比 | 4.9% | 9.5% |
| 净利润同比 | -2.4% | 30.5% |
| 每股收益（稀释后） | $1.15 | $4.64 |
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BJVRTX
| Q4 25 | $5.3B | $3.2B | ||
| Q3 25 | $5.4B | $3.1B | ||
| Q2 25 | $5.2B | $3.0B | ||
| Q1 25 | $5.3B | $2.8B | ||
| Q4 24 | $5.1B | $2.9B | ||
| Q3 24 | $5.2B | $2.8B | ||
| Q2 24 | $4.9B | $2.6B | ||
| Q1 24 | $5.4B | $2.7B |
净利润BJVRTX
| Q4 25 | $152.1M | $1.2B | ||
| Q3 25 | $150.7M | $1.1B | ||
| Q2 25 | $149.8M | $1.0B | ||
| Q1 25 | $122.7M | $646.3M | ||
| Q4 24 | $155.7M | $913.0M | ||
| Q3 24 | $145.0M | $1.0B | ||
| Q2 24 | $111.0M | $-3.6B | ||
| Q1 24 | $145.9M | $1.1B |
毛利率BJVRTX
| Q4 25 | 19.0% | 85.4% | ||
| Q3 25 | 18.7% | 86.5% | ||
| Q2 25 | 18.8% | 86.3% | ||
| Q1 25 | 18.0% | 86.9% | ||
| Q4 24 | 19.1% | 85.5% | ||
| Q3 24 | 18.4% | 85.8% | ||
| Q2 24 | 18.0% | 85.9% | ||
| Q1 24 | 18.0% | 87.3% |
营业利润率BJVRTX
| Q4 25 | 4.1% | 37.8% | ||
| Q3 25 | 4.0% | 38.6% | ||
| Q2 25 | 4.0% | 38.8% | ||
| Q1 25 | 3.4% | 22.7% | ||
| Q4 24 | 4.5% | 35.2% | ||
| Q3 24 | 3.9% | 40.3% | ||
| Q2 24 | 3.3% | -132.9% | ||
| Q1 24 | 4.0% | 42.4% |
净利率BJVRTX
| Q4 25 | 2.8% | 37.3% | ||
| Q3 25 | 2.8% | 35.2% | ||
| Q2 25 | 2.9% | 34.8% | ||
| Q1 25 | 2.3% | 23.3% | ||
| Q4 24 | 3.1% | 31.4% | ||
| Q3 24 | 2.8% | 37.7% | ||
| Q2 24 | 2.3% | -135.8% | ||
| Q1 24 | 2.7% | 40.9% |
每股收益（稀释后）BJVRTX
| Q4 25 | $1.15 | $4.64 | ||
| Q3 25 | $1.14 | $4.20 | ||
| Q2 25 | $1.13 | $3.99 | ||
| Q1 25 | $0.92 | $2.49 | ||
| Q4 24 | $1.17 | $3.62 | ||
| Q3 24 | $1.08 | $4.01 | ||
| Q2 24 | $0.83 | $-13.92 | ||
| Q1 24 | $1.09 | $4.21 |
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 | $45.1M | $6.6B |
| 总债务越低越好 | $399.0M | — |
| 股东权益账面价值 | $2.2B | $18.7B |
| 总资产 | $7.5B | $25.6B |
| 负债/权益比越低杠杆越低 | 0.18× | — |
8季度趋势，按日历期对齐
现金及短期投资BJVRTX
| Q4 25 | $45.1M | $6.6B | ||
| Q3 25 | $47.3M | $6.3B | ||
| Q2 25 | $39.5M | $6.4B | ||
| Q1 25 | $28.3M | $6.2B | ||
| Q4 24 | $33.9M | $6.1B | ||
| Q3 24 | $38.1M | $6.5B | ||
| Q2 24 | $35.1M | $5.8B | ||
| Q1 24 | $36.0M | $10.2B |
总债务BJVRTX
| Q4 25 | $399.0M | — | ||
| Q3 25 | $399.0M | — | ||
| Q2 25 | $398.9M | — | ||
| Q1 25 | $398.8M | — | ||
| Q4 24 | $398.7M | — | ||
| Q3 24 | $398.6M | — | ||
| Q2 24 | $398.5M | — | ||
| Q1 24 | $398.4M | — |
股东权益BJVRTX
| Q4 25 | $2.2B | $18.7B | ||
| Q3 25 | $2.1B | $17.3B | ||
| Q2 25 | $2.0B | $17.2B | ||
| Q1 25 | $1.8B | $16.5B | ||
| Q4 24 | $1.8B | $16.4B | ||
| Q3 24 | $1.7B | $15.6B | ||
| Q2 24 | $1.5B | $14.8B | ||
| Q1 24 | $1.5B | $18.5B |
总资产BJVRTX
| Q4 25 | $7.5B | $25.6B | ||
| Q3 25 | $7.2B | $24.9B | ||
| Q2 25 | $7.2B | $24.0B | ||
| Q1 25 | $7.1B | $22.9B | ||
| Q4 24 | $7.2B | $22.5B | ||
| Q3 24 | $6.9B | $22.2B | ||
| Q2 24 | $6.8B | $20.1B | ||
| Q1 24 | $6.7B | $23.9B |
负债/权益比BJVRTX
| Q4 25 | 0.18× | — | ||
| Q3 25 | 0.19× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.23× | — | ||
| Q3 24 | 0.24× | — | ||
| Q2 24 | 0.26× | — | ||
| Q1 24 | 0.27× | — |
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 | $181.1M | $498.0M |
| 自由现金流经营现金流 - 资本支出 | $-13.7M | $348.6M |
| 自由现金流率自由现金流/营收 | -0.3% | 10.9% |
| 资本支出强度资本支出/营收 | 3.6% | 4.7% |
| 现金转化率经营现金流/净利润 | 1.19× | 0.42× |
| 过去12个月自由现金流最近4个季度 | $249.6M | $3.2B |
8季度趋势，按日历期对齐
经营现金流BJVRTX
| Q4 25 | $181.1M | $498.0M | ||
| Q3 25 | $249.9M | $1.2B | ||
| Q2 25 | $208.1M | $1.1B | ||
| Q1 25 | $271.9M | $818.9M | ||
| Q4 24 | $206.8M | $584.6M | ||
| Q3 24 | $221.4M | $1.4B | ||
| Q2 24 | $200.8M | $-3.8B | ||
| Q1 24 | $274.4M | $1.3B |
自由现金流BJVRTX
| Q4 25 | $-13.7M | $348.6M | ||
| Q3 25 | $84.3M | $1.1B | ||
| Q2 25 | $67.6M | $927.4M | ||
| Q1 25 | $111.5M | $778.2M | ||
| Q4 24 | $18.8M | $492.0M | ||
| Q3 24 | $87.5M | $1.3B | ||
| Q2 24 | $95.1M | $-3.8B | ||
| Q1 24 | $155.2M | $1.2B |
自由现金流率BJVRTX
| Q4 25 | -0.3% | 10.9% | ||
| Q3 25 | 1.6% | 37.0% | ||
| Q2 25 | 1.3% | 31.3% | ||
| Q1 25 | 2.1% | 28.1% | ||
| Q4 24 | 0.4% | 16.9% | ||
| Q3 24 | 1.7% | 47.0% | ||
| Q2 24 | 1.9% | -144.5% | ||
| Q1 24 | 2.9% | 46.0% |
资本支出强度BJVRTX
| Q4 25 | 3.6% | 4.7% | ||
| Q3 25 | 3.1% | 3.3% | ||
| Q2 25 | 2.7% | 4.9% | ||
| Q1 25 | 3.0% | 1.5% | ||
| Q4 24 | 3.7% | 3.2% | ||
| Q3 24 | 2.6% | 2.4% | ||
| Q2 24 | 2.1% | 2.6% | ||
| Q1 24 | 2.2% | 2.5% |
现金转化率BJVRTX
| Q4 25 | 1.19× | 0.42× | ||
| Q3 25 | 1.66× | 1.15× | ||
| Q2 25 | 1.39× | 1.04× | ||
| Q1 25 | 2.22× | 1.27× | ||
| Q4 24 | 1.33× | 0.64× | ||
| Q3 24 | 1.53× | 1.31× | ||
| Q2 24 | 1.81× | — | ||
| Q1 24 | 1.88× | 1.19× |
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
BJ
| Products | $5.4B | 102% |
| Membership | $129.8M | 2% |
VRTX
| TRIKAFTAKAFTRIO | $2.6B | 81% |
| ALYFTREK | $380.1M | 12% |
| Manufactured Product Other | $237.4M | 7% |
