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博士伦（BLCO）与SELECT MEDICAL HOLDINGS CORP（SEM）财务数据对比。点击上方公司名可切换其他公司
博士伦的季度营收约是SELECT MEDICAL HOLDINGS CORP的1.0倍（$1.4B vs $1.4B），SELECT MEDICAL HOLDINGS CORP净利率更高（1.4% vs -4.1%，领先5.6%），博士伦同比增速更快（9.8% vs 6.4%），博士伦自由现金流更多（$60.0M vs $5.2M），过去两年博士伦的营收复合增速更高（13.1% vs 2.8%）
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。
Select Medical是总部位于美国宾夕法尼亚州的医疗健康企业，业务涵盖长期急症护理、住院康复医院运营，同时开设有职业健康与物理治疗诊所，母公司Select Medical Holdings在纽约证券交易所挂牌上市。
BLCO vs SEM — 直观对比
营收规模更大
BLCO
是对方的1.0倍
$1.4B
营收增速更快
BLCO
高出3.4%
6.4%
净利率更高
SEM
高出5.6%
-4.1%
自由现金流更多
BLCO
多$54.8M
$5.2M
两年增速更快
BLCO
近两年复合增速
2.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.4B |
| 净利润 | $-58.0M | $20.2M |
| 毛利率 | — | — |
| 营业利润率 | 8.0% | 4.6% |
| 净利率 | -4.1% | 1.4% |
| 营收同比 | 9.8% | 6.4% |
| 净利润同比 | -1833.3% | 225.7% |
| 每股收益（稀释后） | $-0.16 | $0.17 |
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BLCOSEM
| Q4 25 | $1.4B | $1.4B | ||
| Q3 25 | $1.3B | $1.4B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.2B | $1.3B | ||
| Q1 24 | $1.1B | $1.3B |
净利润BLCOSEM
| Q4 25 | $-58.0M | $20.2M | ||
| Q3 25 | $-28.0M | $28.8M | ||
| Q2 25 | $-62.0M | $40.6M | ||
| Q1 25 | $-212.0M | $56.7M | ||
| Q4 24 | $-3.0M | $-16.1M | ||
| Q3 24 | $4.0M | $55.6M | ||
| Q2 24 | $-151.0M | $77.6M | ||
| Q1 24 | $-167.0M | $96.9M |
营业利润率BLCOSEM
| Q4 25 | 8.0% | 4.6% | ||
| Q3 25 | 7.4% | 5.4% | ||
| Q2 25 | -0.9% | 6.5% | ||
| Q1 25 | -7.3% | 8.3% | ||
| Q4 24 | 6.8% | 1.6% | ||
| Q3 24 | 3.6% | 4.3% | ||
| Q2 24 | 2.1% | 5.8% | ||
| Q1 24 | 0.5% | 9.0% |
净利率BLCOSEM
| Q4 25 | -4.1% | 1.4% | ||
| Q3 25 | -2.2% | 2.1% | ||
| Q2 25 | -4.9% | 3.0% | ||
| Q1 25 | -18.6% | 4.2% | ||
| Q4 24 | -0.2% | -1.2% | ||
| Q3 24 | 0.3% | 4.4% | ||
| Q2 24 | -12.4% | 6.1% | ||
| Q1 24 | -15.2% | 7.3% |
每股收益（稀释后）BLCOSEM
| Q4 25 | $-0.16 | $0.17 | ||
| Q3 25 | $-0.08 | $0.23 | ||
| Q2 25 | $-0.18 | $0.32 | ||
| Q1 25 | $-0.60 | $0.44 | ||
| Q4 24 | $-0.00 | $-0.12 | ||
| Q3 24 | $0.01 | $0.43 | ||
| Q2 24 | $-0.43 | $0.60 | ||
| Q1 24 | $-0.48 | $0.75 |
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 | $26.5M |
| 总债务越低越好 | $5.0B | $1.8B |
| 股东权益账面价值 | $6.4B | $1.7B |
| 总资产 | $14.0B | $5.9B |
| 负债/权益比越低杠杆越低 | 0.78× | 1.06× |
8季度趋势，按日历期对齐
现金及短期投资BLCOSEM
| Q4 25 | $383.0M | $26.5M | ||
| Q3 25 | $310.0M | $60.1M | ||
| Q2 25 | $266.0M | $52.3M | ||
| Q1 25 | $202.0M | $53.2M | ||
| Q4 24 | $305.0M | $59.7M | ||
| Q3 24 | $329.0M | $191.5M | ||
| Q2 24 | $285.0M | $111.2M | ||
| Q1 24 | $315.0M | $92.6M |
总债务BLCOSEM
| Q4 25 | $5.0B | $1.8B | ||
| Q3 25 | $5.0B | $1.7B | ||
| Q2 25 | $5.0B | $1.8B | ||
| Q1 25 | $4.8B | $1.8B | ||
| Q4 24 | $4.8B | $1.7B | ||
| Q3 24 | $4.6B | $3.1B | ||
| Q2 24 | $4.6B | $3.6B | ||
| Q1 24 | $4.6B | $3.8B |
股东权益BLCOSEM
| Q4 25 | $6.4B | $1.7B | ||
| Q3 25 | $6.4B | $1.7B | ||
| Q2 25 | $6.4B | $1.7B | ||
| Q1 25 | $6.4B | $1.7B | ||
| Q4 24 | $6.5B | $1.7B | ||
| Q3 24 | $6.6B | $1.9B | ||
| Q2 24 | $6.5B | $1.4B | ||
| Q1 24 | $6.7B | $1.4B |
总资产BLCOSEM
| Q4 25 | $14.0B | $5.9B | ||
| Q3 25 | $13.8B | $5.7B | ||
| Q2 25 | $13.8B | $5.7B | ||
| Q1 25 | $13.4B | $5.7B | ||
| Q4 24 | $13.5B | $5.6B | ||
| Q3 24 | $13.5B | $8.0B | ||
| Q2 24 | $13.3B | $7.9B | ||
| Q1 24 | $13.3B | $7.9B |
负债/权益比BLCOSEM
| Q4 25 | 0.78× | 1.06× | ||
| Q3 25 | 0.77× | 1.03× | ||
| Q2 25 | 0.77× | 1.10× | ||
| Q1 25 | 0.76× | 1.03× | ||
| Q4 24 | 0.74× | 1.01× | ||
| Q3 24 | 0.70× | 1.62× | ||
| Q2 24 | 0.71× | 2.54× | ||
| Q1 24 | 0.69× | 2.75× |
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 | $64.3M |
| 自由现金流经营现金流 - 资本支出 | $60.0M | $5.2M |
| 自由现金流率自由现金流/营收 | 4.3% | 0.4% |
| 资本支出强度资本支出/营收 | 5.4% | 4.2% |
| 现金转化率经营现金流/净利润 | — | 3.19× |
| 过去12个月自由现金流最近4个季度 | $-66.0M | $117.2M |
8季度趋势，按日历期对齐
经营现金流BLCOSEM
| Q4 25 | $136.0M | $64.3M | ||
| Q3 25 | $137.0M | $175.3M | ||
| Q2 25 | $35.0M | $110.3M | ||
| Q1 25 | $-25.0M | $-3.5M | ||
| Q4 24 | $22.0M | $125.4M | ||
| Q3 24 | $154.0M | $181.0M | ||
| Q2 24 | $15.0M | $278.2M | ||
| Q1 24 | $41.0M | $-66.7M |
自由现金流BLCOSEM
| Q4 25 | $60.0M | $5.2M | ||
| Q3 25 | $63.0M | $122.2M | ||
| Q2 25 | $-54.0M | $45.6M | ||
| Q1 25 | $-135.0M | $-55.8M | ||
| Q4 24 | $-70.0M | $62.0M | ||
| Q3 24 | $94.0M | $130.3M | ||
| Q2 24 | $-57.0M | $222.6M | ||
| Q1 24 | $-26.0M | $-119.2M |
自由现金流率BLCOSEM
| Q4 25 | 4.3% | 0.4% | ||
| Q3 25 | 4.9% | 9.0% | ||
| Q2 25 | -4.2% | 3.4% | ||
| Q1 25 | -11.9% | -4.1% | ||
| Q4 24 | -5.5% | 4.7% | ||
| Q3 24 | 7.9% | 10.2% | ||
| Q2 24 | -4.7% | 17.4% | ||
| Q1 24 | -2.4% | -9.0% |
资本支出强度BLCOSEM
| Q4 25 | 5.4% | 4.2% | ||
| Q3 25 | 5.8% | 3.9% | ||
| Q2 25 | 7.0% | 4.8% | ||
| Q1 25 | 9.7% | 3.9% | ||
| Q4 24 | 7.2% | 4.8% | ||
| Q3 24 | 5.0% | 4.0% | ||
| Q2 24 | 5.9% | 4.3% | ||
| Q1 24 | 6.1% | 4.0% |
现金转化率BLCOSEM
| Q4 25 | — | 3.19× | ||
| Q3 25 | — | 6.09× | ||
| Q2 25 | — | 2.72× | ||
| Q1 25 | — | -0.06× | ||
| Q4 24 | — | — | ||
| Q3 24 | 38.50× | 3.25× | ||
| Q2 24 | — | 3.59× | ||
| Q1 24 | — | -0.69× |
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% |
SEM
| Critical Illness Recovery Hospitals | $629.7M | 45% |
| Health Care Patient Service Non Medicare | $428.6M | 31% |
| Rehabilitation Hospitals | $339.2M | 24% |
