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拜玛林制药（BMRN）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是拜玛林制药的1.4倍（$1.2B vs $874.6M），利氏兄弟拍卖行净利率更高（9.1% vs -5.3%，领先14.4%），拜玛林制药同比增速更快（17.0% vs 5.4%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $58.9M），过去两年拜玛林制药的营收复合增速更高（16.1% vs 6.3%）
拜玛林制药是总部位于美国加利福尼亚州圣拉斐尔的生物技术企业，在美洲、亚洲、欧洲多地设有办事机构及生产设施，核心业务聚焦酶替代疗法研发，是全球首个推出Ⅰ型粘多糖贮积症治疗药物拉罗尼酶及苯丙酮尿症治疗药物的企业。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
BMRN vs RBA — 直观对比
营收规模更大
RBA
是对方的1.4倍
$874.6M
营收增速更快
BMRN
高出11.6%
5.4%
净利率更高
RBA
高出14.4%
-5.3%
自由现金流更多
RBA
多$127.6M
$58.9M
两年增速更快
BMRN
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $874.6M | $1.2B |
| 净利润 | $-46.6M | $109.7M |
| 毛利率 | 68.5% | — |
| 营业利润率 | -5.1% | 14.7% |
| 净利率 | -5.3% | 9.1% |
| 营收同比 | 17.0% | 5.4% |
| 净利润同比 | -137.3% | -7.4% |
| 每股收益（稀释后） | $-0.22 | $0.53 |
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BMRNRBA
| Q4 25 | $874.6M | $1.2B | ||
| Q3 25 | $776.1M | $1.1B | ||
| Q2 25 | $825.4M | $1.2B | ||
| Q1 25 | $745.1M | $1.1B | ||
| Q4 24 | $747.3M | $1.1B | ||
| Q3 24 | $745.7M | $981.8M | ||
| Q2 24 | $712.0M | $1.1B | ||
| Q1 24 | $648.8M | $1.1B |
净利润BMRNRBA
| Q4 25 | $-46.6M | $109.7M | ||
| Q3 25 | $-30.7M | $95.5M | ||
| Q2 25 | $240.5M | $109.8M | ||
| Q1 25 | $185.7M | $113.4M | ||
| Q4 24 | $124.9M | $118.5M | ||
| Q3 24 | $106.1M | $76.1M | ||
| Q2 24 | $107.2M | $111.1M | ||
| Q1 24 | $88.7M | $107.4M |
毛利率BMRNRBA
| Q4 25 | 68.5% | — | ||
| Q3 25 | 82.0% | — | ||
| Q2 25 | 81.8% | — | ||
| Q1 25 | 79.7% | — | ||
| Q4 24 | 81.8% | — | ||
| Q3 24 | 74.7% | — | ||
| Q2 24 | 81.7% | — | ||
| Q1 24 | 80.7% | — |
营业利润率BMRNRBA
| Q4 25 | -5.1% | 14.7% | ||
| Q3 25 | -6.0% | 14.5% | ||
| Q2 25 | 33.5% | 15.9% | ||
| Q1 25 | 30.0% | 17.1% | ||
| Q4 24 | 21.6% | 18.1% | ||
| Q3 24 | 15.3% | 15.6% | ||
| Q2 24 | 16.9% | 18.4% | ||
| Q1 24 | 13.6% | 18.7% |
净利率BMRNRBA
| Q4 25 | -5.3% | 9.1% | ||
| Q3 25 | -4.0% | 8.7% | ||
| Q2 25 | 29.1% | 9.3% | ||
| Q1 25 | 24.9% | 10.2% | ||
| Q4 24 | 16.7% | 10.4% | ||
| Q3 24 | 14.2% | 7.8% | ||
| Q2 24 | 15.1% | 10.1% | ||
| Q1 24 | 13.7% | 10.1% |
每股收益（稀释后）BMRNRBA
| Q4 25 | $-0.22 | $0.53 | ||
| Q3 25 | $-0.16 | $0.43 | ||
| Q2 25 | $1.23 | $0.53 | ||
| Q1 25 | $0.95 | $0.55 | ||
| Q4 24 | $0.65 | $0.58 | ||
| Q3 24 | $0.55 | $0.36 | ||
| Q2 24 | $0.55 | $0.54 | ||
| Q1 24 | $0.46 | $0.53 |
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 | $1.3B | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $6.1B | $5.6B |
| 总资产 | $7.6B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资BMRNRBA
| Q4 25 | $1.3B | $531.5M | ||
| Q3 25 | $1.3B | $674.7M | ||
| Q2 25 | $1.2B | $710.2M | ||
| Q1 25 | $1.0B | $578.1M | ||
| Q4 24 | $942.8M | $533.9M | ||
| Q3 24 | $675.4M | $650.7M | ||
| Q2 24 | $972.1M | $599.5M | ||
| Q1 24 | $747.0M | $462.8M |
总债务BMRNRBA
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益BMRNRBA
| Q4 25 | $6.1B | $5.6B | ||
| Q3 25 | $6.1B | $5.5B | ||
| Q2 25 | $6.0B | $5.5B | ||
| Q1 25 | $5.8B | $5.3B | ||
| Q4 24 | $5.7B | $5.2B | ||
| Q3 24 | $5.4B | $5.2B | ||
| Q2 24 | $5.3B | $5.2B | ||
| Q1 24 | $5.1B | $5.1B |
总资产BMRNRBA
| Q4 25 | $7.6B | $12.1B | ||
| Q3 25 | $7.6B | $12.2B | ||
| Q2 25 | $7.5B | $12.2B | ||
| Q1 25 | $7.1B | $11.9B | ||
| Q4 24 | $7.0B | $11.8B | ||
| Q3 24 | $6.9B | $11.9B | ||
| Q2 24 | $7.1B | $12.1B | ||
| Q1 24 | $6.9B | $12.0B |
负债/权益比BMRNRBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 0.58× |
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 | $99.6M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $58.9M | $186.5M |
| 自由现金流率自由现金流/营收 | 6.7% | 15.5% |
| 资本支出强度资本支出/营收 | 4.7% | 5.7% |
| 现金转化率经营现金流/净利润 | — | 2.33× |
| 过去12个月自由现金流最近4个季度 | $725.0M | $719.2M |
8季度趋势，按日历期对齐
经营现金流BMRNRBA
| Q4 25 | $99.6M | $255.2M | ||
| Q3 25 | $368.7M | $239.7M | ||
| Q2 25 | $185.3M | $326.5M | ||
| Q1 25 | $174.4M | $156.8M | ||
| Q4 24 | $185.6M | $184.5M | ||
| Q3 24 | $221.5M | $285.4M | ||
| Q2 24 | $118.8M | $337.3M | ||
| Q1 24 | $47.0M | $124.8M |
自由现金流BMRNRBA
| Q4 25 | $58.9M | $186.5M | ||
| Q3 25 | $340.2M | $188.5M | ||
| Q2 25 | $168.2M | $241.7M | ||
| Q1 25 | $157.6M | $102.5M | ||
| Q4 24 | $166.1M | $127.9M | ||
| Q3 24 | $203.0M | $248.5M | ||
| Q2 24 | $97.4M | $308.6M | ||
| Q1 24 | $20.9M | $79.6M |
自由现金流率BMRNRBA
| Q4 25 | 6.7% | 15.5% | ||
| Q3 25 | 43.8% | 17.3% | ||
| Q2 25 | 20.4% | 20.4% | ||
| Q1 25 | 21.2% | 9.2% | ||
| Q4 24 | 22.2% | 11.2% | ||
| Q3 24 | 27.2% | 25.3% | ||
| Q2 24 | 13.7% | 28.2% | ||
| Q1 24 | 3.2% | 7.5% |
资本支出强度BMRNRBA
| Q4 25 | 4.7% | 5.7% | ||
| Q3 25 | 3.7% | 4.7% | ||
| Q2 25 | 2.1% | 7.2% | ||
| Q1 25 | 2.3% | 4.9% | ||
| Q4 24 | 2.6% | 5.0% | ||
| Q3 24 | 2.5% | 3.8% | ||
| Q2 24 | 3.0% | 2.6% | ||
| Q1 24 | 4.0% | 4.2% |
现金转化率BMRNRBA
| Q4 25 | — | 2.33× | ||
| Q3 25 | — | 2.51× | ||
| Q2 25 | 0.77× | 2.97× | ||
| Q1 25 | 0.94× | 1.38× | ||
| Q4 24 | 1.49× | 1.56× | ||
| Q3 24 | 2.09× | 3.75× | ||
| Q2 24 | 1.11× | 3.04× | ||
| Q1 24 | 0.53× | 1.16× |
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
BMRN
| VOXZOGO | $273.4M | 31% |
| VIMIZIM | $205.5M | 24% |
| PALYNZIQ | $125.3M | 14% |
| NAGLAZYME | $120.2M | 14% |
| Other | $49.4M | 6% |
| ALDURAZYME | $49.4M | 6% |
| KUVAN | $23.3M | 3% |
| Royalty And Other | $15.2M | 2% |
| ROCTAVIAN | $12.8M | 1% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
