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博士伦（BLCO）与TRINET GROUP, INC.（TNET）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TRINET GROUP, INC.的1.1倍（$1.4B vs $1.2B），博士伦同比增速更快（9.8% vs -2.2%），博士伦自由现金流更多（$60.0M vs $43.0M），过去两年博士伦的营收复合增速更高（13.1% vs -0.6%）
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。
TriNet Group, Inc.是一家面向中小企业的专业雇主组织，总部位于加州都柏林，服务员工规模在3至2500人之间的各类机构。可提供薪资管理、健康福利管理服务，还能为客户提供劳动法规合规、风险降低相关咨询，可作为外包人力资源部门为企业分担人事相关事务。
BLCO vs TNET — 直观对比
营收规模更大
BLCO
是对方的1.1倍
$1.2B
营收增速更快
BLCO
高出12.0%
-2.2%
自由现金流更多
BLCO
多$17.0M
$43.0M
两年增速更快
BLCO
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.2B |
| 净利润 | $-58.0M | — |
| 毛利率 | — | — |
| 营业利润率 | 8.0% | 0.1% |
| 净利率 | -4.1% | — |
| 营收同比 | 9.8% | -2.2% |
| 净利润同比 | -1833.3% | — |
| 每股收益（稀释后） | $-0.16 | $0.02 |
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BLCOTNET
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.3B | $1.2B | ||
| 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 | $1.3B |
净利润BLCOTNET
| Q4 25 | $-58.0M | — | ||
| Q3 25 | $-28.0M | $34.0M | ||
| Q2 25 | $-62.0M | $37.0M | ||
| Q1 25 | $-212.0M | $85.0M | ||
| Q4 24 | $-3.0M | — | ||
| Q3 24 | $4.0M | $45.0M | ||
| Q2 24 | $-151.0M | $60.0M | ||
| Q1 24 | $-167.0M | $91.0M |
营业利润率BLCOTNET
| Q4 25 | 8.0% | 0.1% | ||
| Q3 25 | 7.4% | 4.1% | ||
| Q2 25 | -0.9% | 4.1% | ||
| Q1 25 | -7.3% | 8.9% | ||
| Q4 24 | 6.8% | -2.9% | ||
| Q3 24 | 3.6% | 4.7% | ||
| Q2 24 | 2.1% | 6.5% | ||
| Q1 24 | 0.5% | 9.7% |
净利率BLCOTNET
| Q4 25 | -4.1% | — | ||
| Q3 25 | -2.2% | 2.8% | ||
| Q2 25 | -4.9% | 3.0% | ||
| Q1 25 | -18.6% | 6.6% | ||
| Q4 24 | -0.2% | — | ||
| Q3 24 | 0.3% | 3.6% | ||
| Q2 24 | -12.4% | 4.9% | ||
| Q1 24 | -15.2% | 7.2% |
每股收益（稀释后）BLCOTNET
| Q4 25 | $-0.16 | $0.02 | ||
| Q3 25 | $-0.08 | $0.70 | ||
| Q2 25 | $-0.18 | $0.77 | ||
| Q1 25 | $-0.60 | $1.71 | ||
| Q4 24 | $-0.00 | $-0.44 | ||
| Q3 24 | $0.01 | $0.89 | ||
| Q2 24 | $-0.43 | $1.20 | ||
| Q1 24 | $-0.48 | $1.78 |
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 | $287.0M |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $6.4B | $54.0M |
| 总资产 | $14.0B | $3.8B |
| 负债/权益比越低杠杆越低 | 0.78× | — |
8季度趋势，按日历期对齐
现金及短期投资BLCOTNET
| Q4 25 | $383.0M | $287.0M | ||
| Q3 25 | $310.0M | $321.0M | ||
| Q2 25 | $266.0M | $407.0M | ||
| Q1 25 | $202.0M | $349.0M | ||
| Q4 24 | $305.0M | $360.0M | ||
| Q3 24 | $329.0M | $301.0M | ||
| Q2 24 | $285.0M | $249.0M | ||
| Q1 24 | $315.0M | $383.0M |
总债务BLCOTNET
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.0B | — | ||
| Q1 25 | $4.8B | — | ||
| Q4 24 | $4.8B | — | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $4.6B | — | ||
| Q1 24 | $4.6B | — |
股东权益BLCOTNET
| Q4 25 | $6.4B | $54.0M | ||
| Q3 25 | $6.4B | $110.0M | ||
| Q2 25 | $6.4B | $107.0M | ||
| Q1 25 | $6.4B | $63.0M | ||
| Q4 24 | $6.5B | $69.0M | ||
| Q3 24 | $6.6B | $129.0M | ||
| Q2 24 | $6.5B | $100.0M | ||
| Q1 24 | $6.7B | $143.0M |
总资产BLCOTNET
| Q4 25 | $14.0B | $3.8B | ||
| Q3 25 | $13.8B | $3.4B | ||
| Q2 25 | $13.8B | $3.7B | ||
| Q1 25 | $13.4B | $3.8B | ||
| Q4 24 | $13.5B | $4.1B | ||
| Q3 24 | $13.5B | $3.7B | ||
| Q2 24 | $13.3B | $3.7B | ||
| Q1 24 | $13.3B | $4.0B |
负债/权益比BLCOTNET
| Q4 25 | 0.78× | — | ||
| Q3 25 | 0.77× | — | ||
| Q2 25 | 0.77× | — | ||
| Q1 25 | 0.76× | — | ||
| Q4 24 | 0.74× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.69× | — |
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 | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $60.0M | $43.0M |
| 自由现金流率自由现金流/营收 | 4.3% | 3.4% |
| 资本支出强度资本支出/营收 | 5.4% | 1.4% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-66.0M | $234.0M |
8季度趋势，按日历期对齐
经营现金流BLCOTNET
| Q4 25 | $136.0M | $61.0M | ||
| Q3 25 | $137.0M | $72.0M | ||
| Q2 25 | $35.0M | $75.0M | ||
| Q1 25 | $-25.0M | $95.0M | ||
| Q4 24 | $22.0M | $65.0M | ||
| Q3 24 | $154.0M | $84.0M | ||
| Q2 24 | $15.0M | $39.0M | ||
| Q1 24 | $41.0M | $91.0M |
自由现金流BLCOTNET
| Q4 25 | $60.0M | $43.0M | ||
| Q3 25 | $63.0M | $55.0M | ||
| Q2 25 | $-54.0M | $57.0M | ||
| Q1 25 | $-135.0M | $79.0M | ||
| Q4 24 | $-70.0M | $47.0M | ||
| Q3 24 | $94.0M | $59.0M | ||
| Q2 24 | $-57.0M | $22.0M | ||
| Q1 24 | $-26.0M | $73.0M |
自由现金流率BLCOTNET
| Q4 25 | 4.3% | 3.4% | ||
| Q3 25 | 4.9% | 4.5% | ||
| Q2 25 | -4.2% | 4.6% | ||
| Q1 25 | -11.9% | 6.1% | ||
| Q4 24 | -5.5% | 3.7% | ||
| Q3 24 | 7.9% | 4.8% | ||
| Q2 24 | -4.7% | 1.8% | ||
| Q1 24 | -2.4% | 5.8% |
资本支出强度BLCOTNET
| Q4 25 | 5.4% | 1.4% | ||
| Q3 25 | 5.8% | 1.4% | ||
| Q2 25 | 7.0% | 1.5% | ||
| Q1 25 | 9.7% | 1.2% | ||
| Q4 24 | 7.2% | 1.4% | ||
| Q3 24 | 5.0% | 2.0% | ||
| Q2 24 | 5.9% | 1.4% | ||
| Q1 24 | 6.1% | 1.4% |
现金转化率BLCOTNET
| Q4 25 | — | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | — | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | — | ||
| Q3 24 | 38.50× | 1.87× | ||
| Q2 24 | — | 0.65× | ||
| Q1 24 | — | 1.00× |
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% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
