vs
拜玛林制药（BMRN）与RBC Bearings INC（RBC）财务数据对比。点击上方公司名可切换其他公司
拜玛林制药的季度营收约是RBC Bearings INC的1.9倍（$874.6M vs $461.6M），RBC Bearings INC净利率更高（14.6% vs -5.3%，领先19.9%），RBC Bearings INC同比增速更快（17.0% vs 17.0%），RBC Bearings INC自由现金流更多（$99.1M vs $58.9M），过去两年拜玛林制药的营收复合增速更高（16.1% vs 5.6%）
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。
该文本实际介绍的并非RBC Bearings，而是美国多佛公司。多佛是一家工业产品综合制造商，1955年成立，总部位于伊利诺伊州当纳斯格罗夫。2021年其业务分为五大板块：工程产品、清洁能源与加注、成像与识别、泵与工艺解决方案、气候与可持续技术，是标普500成分股，在纽约证券交易所上市。
BMRN vs RBC — 直观对比
营收规模更大
BMRN
是对方的1.9倍
$461.6M
营收增速更快
RBC
高出0.0%
17.0%
净利率更高
RBC
高出19.9%
-5.3%
自由现金流更多
RBC
多$40.2M
$58.9M
两年增速更快
BMRN
近两年复合增速
5.6%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $874.6M | $461.6M |
| 净利润 | $-46.6M | $67.4M |
| 毛利率 | 68.5% | 44.3% |
| 营业利润率 | -5.1% | 22.3% |
| 净利率 | -5.3% | 14.6% |
| 营收同比 | 17.0% | 17.0% |
| 净利润同比 | -137.3% | 16.4% |
| 每股收益（稀释后） | $-0.22 | $2.13 |
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BMRNRBC
| Q4 25 | $874.6M | $461.6M | ||
| Q3 25 | $776.1M | $455.3M | ||
| Q2 25 | $825.4M | $436.0M | ||
| Q1 25 | $745.1M | $437.7M | ||
| Q4 24 | $747.3M | $394.4M | ||
| Q3 24 | $745.7M | $397.9M | ||
| Q2 24 | $712.0M | $406.3M | ||
| Q1 24 | $648.8M | $413.7M |
净利润BMRNRBC
| Q4 25 | $-46.6M | $67.4M | ||
| Q3 25 | $-30.7M | $60.0M | ||
| Q2 25 | $240.5M | $68.5M | ||
| Q1 25 | $185.7M | $72.7M | ||
| Q4 24 | $124.9M | $57.9M | ||
| Q3 24 | $106.1M | $54.2M | ||
| Q2 24 | $107.2M | $61.4M | ||
| Q1 24 | $88.7M | — |
毛利率BMRNRBC
| Q4 25 | 68.5% | 44.3% | ||
| Q3 25 | 82.0% | 44.1% | ||
| Q2 25 | 81.8% | 44.8% | ||
| Q1 25 | 79.7% | 44.2% | ||
| Q4 24 | 81.8% | 44.3% | ||
| Q3 24 | 74.7% | 43.7% | ||
| Q2 24 | 81.7% | 45.3% | ||
| Q1 24 | 80.7% | 43.1% |
营业利润率BMRNRBC
| Q4 25 | -5.1% | 22.3% | ||
| Q3 25 | -6.0% | 21.5% | ||
| Q2 25 | 33.5% | 23.2% | ||
| Q1 25 | 30.0% | 23.0% | ||
| Q4 24 | 21.6% | 21.7% | ||
| Q3 24 | 15.3% | 21.6% | ||
| Q2 24 | 16.9% | 24.0% | ||
| Q1 24 | 13.6% | 22.8% |
净利率BMRNRBC
| Q4 25 | -5.3% | 14.6% | ||
| Q3 25 | -4.0% | 13.2% | ||
| Q2 25 | 29.1% | 15.7% | ||
| Q1 25 | 24.9% | 16.6% | ||
| Q4 24 | 16.7% | 14.7% | ||
| Q3 24 | 14.2% | 13.6% | ||
| Q2 24 | 15.1% | 15.1% | ||
| Q1 24 | 13.7% | — |
每股收益（稀释后）BMRNRBC
| Q4 25 | $-0.22 | $2.13 | ||
| Q3 25 | $-0.16 | $1.90 | ||
| Q2 25 | $1.23 | $2.17 | ||
| Q1 25 | $0.95 | $2.33 | ||
| Q4 24 | $0.65 | $1.82 | ||
| Q3 24 | $0.55 | $1.65 | ||
| Q2 24 | $0.55 | $1.90 | ||
| Q1 24 | $0.46 | $1.92 |
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 | $107.6M |
| 总债务越低越好 | — | $990.2M |
| 股东权益账面价值 | $6.1B | $3.3B |
| 总资产 | $7.6B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资BMRNRBC
| Q4 25 | $1.3B | $107.6M | ||
| Q3 25 | $1.3B | $91.2M | ||
| Q2 25 | $1.2B | $132.9M | ||
| Q1 25 | $1.0B | $36.8M | ||
| Q4 24 | $942.8M | — | ||
| Q3 24 | $675.4M | — | ||
| Q2 24 | $972.1M | $76.8M | ||
| Q1 24 | $747.0M | $63.5M |
总债务BMRNRBC
| Q4 25 | — | $990.2M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $915.6M | ||
| Q1 25 | — | $920.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.2B |
股东权益BMRNRBC
| Q4 25 | $6.1B | $3.3B | ||
| Q3 25 | $6.1B | $3.2B | ||
| Q2 25 | $6.0B | $3.1B | ||
| Q1 25 | $5.8B | $3.0B | ||
| Q4 24 | $5.7B | $2.9B | ||
| Q3 24 | $5.4B | $2.9B | ||
| Q2 24 | $5.3B | $2.8B | ||
| Q1 24 | $5.1B | $2.8B |
总资产BMRNRBC
| Q4 25 | $7.6B | $5.1B | ||
| Q3 25 | $7.6B | $5.1B | ||
| Q2 25 | $7.5B | $4.8B | ||
| Q1 25 | $7.1B | $4.7B | ||
| Q4 24 | $7.0B | $4.7B | ||
| Q3 24 | $6.9B | $4.7B | ||
| Q2 24 | $7.1B | $4.7B | ||
| Q1 24 | $6.9B | $4.7B |
负债/权益比BMRNRBC
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.43× |
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 | $122.1M |
| 自由现金流经营现金流 - 资本支出 | $58.9M | $99.1M |
| 自由现金流率自由现金流/营收 | 6.7% | 21.5% |
| 资本支出强度资本支出/营收 | 4.7% | 5.0% |
| 现金转化率经营现金流/净利润 | — | 1.81× |
| 过去12个月自由现金流最近4个季度 | $725.0M | — |
8季度趋势，按日历期对齐
经营现金流BMRNRBC
| Q4 25 | $99.6M | $122.1M | ||
| Q3 25 | $368.7M | $88.4M | ||
| Q2 25 | $185.3M | $120.0M | ||
| Q1 25 | $174.4M | — | ||
| Q4 24 | $185.6M | $84.0M | ||
| Q3 24 | $221.5M | — | ||
| Q2 24 | $118.8M | $97.4M | ||
| Q1 24 | $47.0M | — |
自由现金流BMRNRBC
| Q4 25 | $58.9M | $99.1M | ||
| Q3 25 | $340.2M | $71.7M | ||
| Q2 25 | $168.2M | $104.3M | ||
| Q1 25 | $157.6M | — | ||
| Q4 24 | $166.1M | $73.6M | ||
| Q3 24 | $203.0M | — | ||
| Q2 24 | $97.4M | $88.4M | ||
| Q1 24 | $20.9M | — |
自由现金流率BMRNRBC
| Q4 25 | 6.7% | 21.5% | ||
| Q3 25 | 43.8% | 15.7% | ||
| Q2 25 | 20.4% | 23.9% | ||
| Q1 25 | 21.2% | — | ||
| Q4 24 | 22.2% | 18.7% | ||
| Q3 24 | 27.2% | — | ||
| Q2 24 | 13.7% | 21.8% | ||
| Q1 24 | 3.2% | — |
资本支出强度BMRNRBC
| Q4 25 | 4.7% | 5.0% | ||
| Q3 25 | 3.7% | 3.7% | ||
| Q2 25 | 2.1% | 3.6% | ||
| Q1 25 | 2.3% | 3.2% | ||
| Q4 24 | 2.6% | 2.6% | ||
| Q3 24 | 2.5% | 4.1% | ||
| Q2 24 | 3.0% | 2.2% | ||
| Q1 24 | 4.0% | — |
现金转化率BMRNRBC
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.47× | ||
| Q2 25 | 0.77× | 1.75× | ||
| Q1 25 | 0.94× | — | ||
| Q4 24 | 1.49× | 1.45× | ||
| Q3 24 | 2.09× | — | ||
| Q2 24 | 1.11× | 1.59× | ||
| Q1 24 | 0.53× | — |
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% |
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
