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博士伦（BLCO）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
瑞思迈的季度营收约是博士伦的1.0倍（$1.4B vs $1.4B），瑞思迈净利率更高（27.6% vs -4.1%，领先31.7%），瑞思迈同比增速更快（11.0% vs 9.8%），瑞思迈自由现金流更多（$311.2M vs $60.0M），过去两年博士伦的营收复合增速更高（13.1% vs 9.0%）
博士伦是知名眼健康产品企业，总部位于加拿大安大略省沃恩市，是全球规模最大的隐形眼镜、镜片护理产品、眼科药品、人工晶体及其他眼科手术产品供应商之一。品牌1853年由验光师约翰·鲍什与合伙人亨利·朗姆在美国纽约罗切斯特创立，曾是美国历史最悠久的持续运营企业之一，2013年被整体收购。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
BLCO vs RMD — 直观对比
营收规模更大
RMD
是对方的1.0倍
$1.4B
营收增速更快
RMD
高出1.2%
9.8%
净利率更高
RMD
高出31.7%
-4.1%
自由现金流更多
RMD
多$251.2M
$60.0M
两年增速更快
BLCO
近两年复合增速
9.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.4B |
| 净利润 | $-58.0M | $392.6M |
| 毛利率 | — | 61.8% |
| 营业利润率 | 8.0% | 34.6% |
| 净利率 | -4.1% | 27.6% |
| 营收同比 | 9.8% | 11.0% |
| 净利润同比 | -1833.3% | 13.9% |
| 每股收益（稀释后） | $-0.16 | $2.68 |
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BLCORMD
| Q4 25 | $1.4B | $1.4B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.2B | $1.2B | ||
| Q1 24 | $1.1B | $1.2B |
净利润BLCORMD
| Q4 25 | $-58.0M | $392.6M | ||
| Q3 25 | $-28.0M | $348.5M | ||
| Q2 25 | $-62.0M | $379.7M | ||
| Q1 25 | $-212.0M | $365.0M | ||
| Q4 24 | $-3.0M | $344.6M | ||
| Q3 24 | $4.0M | $311.4M | ||
| Q2 24 | $-151.0M | $292.2M | ||
| Q1 24 | $-167.0M | $300.5M |
毛利率BLCORMD
| Q4 25 | — | 61.8% | ||
| Q3 25 | — | 61.5% | ||
| Q2 25 | — | 60.8% | ||
| Q1 25 | — | 59.3% | ||
| Q4 24 | — | 58.6% | ||
| Q3 24 | — | 58.6% | ||
| Q2 24 | — | 58.5% | ||
| Q1 24 | — | 57.9% |
营业利润率BLCORMD
| Q4 25 | 8.0% | 34.6% | ||
| Q3 25 | 7.4% | 33.4% | ||
| Q2 25 | -0.9% | 33.7% | ||
| Q1 25 | -7.3% | 33.0% | ||
| Q4 24 | 6.8% | 32.5% | ||
| Q3 24 | 3.6% | 31.6% | ||
| Q2 24 | 2.1% | 31.2% | ||
| Q1 24 | 0.5% | 31.3% |
净利率BLCORMD
| Q4 25 | -4.1% | 27.6% | ||
| Q3 25 | -2.2% | 26.1% | ||
| Q2 25 | -4.9% | 28.2% | ||
| Q1 25 | -18.6% | 28.3% | ||
| Q4 24 | -0.2% | 26.9% | ||
| Q3 24 | 0.3% | 25.4% | ||
| Q2 24 | -12.4% | 23.9% | ||
| Q1 24 | -15.2% | 25.1% |
每股收益（稀释后）BLCORMD
| Q4 25 | $-0.16 | $2.68 | ||
| Q3 25 | $-0.08 | $2.37 | ||
| Q2 25 | $-0.18 | $2.58 | ||
| Q1 25 | $-0.60 | $2.48 | ||
| Q4 24 | $-0.00 | $2.34 | ||
| Q3 24 | $0.01 | $2.11 | ||
| Q2 24 | $-0.43 | $1.97 | ||
| Q1 24 | $-0.48 | $2.04 |
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 | $383.0M | $1.4B |
| 总债务越低越好 | $5.0B | $403.9M |
| 股东权益账面价值 | $6.4B | $6.3B |
| 总资产 | $14.0B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.78× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资BLCORMD
| Q4 25 | $383.0M | $1.4B | ||
| Q3 25 | $310.0M | $1.4B | ||
| Q2 25 | $266.0M | $1.2B | ||
| Q1 25 | $202.0M | $932.7M | ||
| Q4 24 | $305.0M | $521.9M | ||
| Q3 24 | $329.0M | $426.4M | ||
| Q2 24 | $285.0M | $238.4M | ||
| Q1 24 | $315.0M | $237.9M |
总债务BLCORMD
| Q4 25 | $5.0B | $403.9M | ||
| Q3 25 | $5.0B | $408.7M | ||
| Q2 25 | $5.0B | $658.4M | ||
| Q1 25 | $4.8B | $663.1M | ||
| Q4 24 | $4.8B | $662.9M | ||
| Q3 24 | $4.6B | $667.6M | ||
| Q2 24 | $4.6B | $697.3M | ||
| Q1 24 | $4.6B | $997.0M |
股东权益BLCORMD
| Q4 25 | $6.4B | $6.3B | ||
| Q3 25 | $6.4B | $6.1B | ||
| Q2 25 | $6.4B | $6.0B | ||
| Q1 25 | $6.4B | $5.5B | ||
| Q4 24 | $6.5B | $5.3B | ||
| Q3 24 | $6.6B | $5.2B | ||
| Q2 24 | $6.5B | $4.9B | ||
| Q1 24 | $6.7B | $4.6B |
总资产BLCORMD
| Q4 25 | $14.0B | $8.5B | ||
| Q3 25 | $13.8B | $8.3B | ||
| Q2 25 | $13.8B | $8.2B | ||
| Q1 25 | $13.4B | $7.6B | ||
| Q4 24 | $13.5B | $7.1B | ||
| Q3 24 | $13.5B | $7.2B | ||
| Q2 24 | $13.3B | $6.9B | ||
| Q1 24 | $13.3B | $6.8B |
负债/权益比BLCORMD
| Q4 25 | 0.78× | 0.06× | ||
| Q3 25 | 0.77× | 0.07× | ||
| Q2 25 | 0.77× | 0.11× | ||
| Q1 25 | 0.76× | 0.12× | ||
| Q4 24 | 0.74× | 0.13× | ||
| Q3 24 | 0.70× | 0.13× | ||
| Q2 24 | 0.71× | 0.14× | ||
| Q1 24 | 0.69× | 0.22× |
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 | $136.0M | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $60.0M | $311.2M |
| 自由现金流率自由现金流/营收 | 4.3% | 21.9% |
| 资本支出强度资本支出/营收 | 5.4% | 2.0% |
| 现金转化率经营现金流/净利润 | — | 0.87× |
| 过去12个月自由现金流最近4个季度 | $-66.0M | $1.8B |
8季度趋势，按日历期对齐
经营现金流BLCORMD
| Q4 25 | $136.0M | $339.7M | ||
| Q3 25 | $137.0M | $457.3M | ||
| Q2 25 | $35.0M | $538.8M | ||
| Q1 25 | $-25.0M | $578.7M | ||
| Q4 24 | $22.0M | $308.6M | ||
| Q3 24 | $154.0M | $325.5M | ||
| Q2 24 | $15.0M | $440.1M | ||
| Q1 24 | $41.0M | $402.0M |
自由现金流BLCORMD
| Q4 25 | $60.0M | $311.2M | ||
| Q3 25 | $63.0M | $414.4M | ||
| Q2 25 | $-54.0M | $508.2M | ||
| Q1 25 | $-135.0M | $557.9M | ||
| Q4 24 | $-70.0M | $288.0M | ||
| Q3 24 | $94.0M | $307.7M | ||
| Q2 24 | $-57.0M | $415.2M | ||
| Q1 24 | $-26.0M | $380.8M |
自由现金流率BLCORMD
| Q4 25 | 4.3% | 21.9% | ||
| Q3 25 | 4.9% | 31.0% | ||
| Q2 25 | -4.2% | 37.7% | ||
| Q1 25 | -11.9% | 43.2% | ||
| Q4 24 | -5.5% | 22.5% | ||
| Q3 24 | 7.9% | 25.1% | ||
| Q2 24 | -4.7% | 33.9% | ||
| Q1 24 | -2.4% | 31.8% |
资本支出强度BLCORMD
| Q4 25 | 5.4% | 2.0% | ||
| Q3 25 | 5.8% | 3.2% | ||
| Q2 25 | 7.0% | 2.3% | ||
| Q1 25 | 9.7% | 1.6% | ||
| Q4 24 | 7.2% | 1.6% | ||
| Q3 24 | 5.0% | 1.5% | ||
| Q2 24 | 5.9% | 2.0% | ||
| Q1 24 | 6.1% | 1.8% |
现金转化率BLCORMD
| Q4 25 | — | 0.87× | ||
| Q3 25 | — | 1.31× | ||
| Q2 25 | — | 1.42× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | 38.50× | 1.05× | ||
| Q2 24 | — | 1.51× | ||
| Q1 24 | — | 1.34× |
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
BLCO
| Overthe Counter Products | $489.0M | 35% |
| Pharmaceuticals | $378.0M | 27% |
| Other | $263.0M | 19% |
| Surgical | $249.0M | 18% |
| Brandedand Other Generic Products | $14.0M | 1% |
| Other Revenues | $3.0M | 0% |
| Pharmaceutical Products | $2.0M | 0% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
