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拜玛林制药（BMRN）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
Rivian Automotive, Inc.的季度营收约是拜玛林制药的1.5倍（$1.3B vs $874.6M），拜玛林制药净利率更高（-5.3% vs -63.1%，领先57.7%），拜玛林制药同比增速更快（17.0% vs -25.8%），拜玛林制药自由现金流更多（$58.9M vs $-1.1B），过去两年拜玛林制药的营收复合增速更高（16.1% vs 3.3%）
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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
BMRN vs RIVN — 直观对比
营收规模更大
RIVN
是对方的1.5倍
$874.6M
营收增速更快
BMRN
高出42.9%
-25.8%
净利率更高
BMRN
高出57.7%
-63.1%
自由现金流更多
BMRN
多$1.2B
$-1.1B
两年增速更快
BMRN
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $874.6M | $1.3B |
| 净利润 | $-46.6M | $-811.0M |
| 毛利率 | 68.5% | 9.3% |
| 营业利润率 | -5.1% | -64.8% |
| 净利率 | -5.3% | -63.1% |
| 营收同比 | 17.0% | -25.8% |
| 净利润同比 | -137.3% | -9.0% |
| 每股收益（稀释后） | $-0.22 | $-0.66 |
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BMRNRIVN
| Q4 25 | $874.6M | $1.3B | ||
| Q3 25 | $776.1M | $1.6B | ||
| Q2 25 | $825.4M | $1.3B | ||
| Q1 25 | $745.1M | $1.2B | ||
| Q4 24 | $747.3M | $1.7B | ||
| Q3 24 | $745.7M | $874.0M | ||
| Q2 24 | $712.0M | $1.2B | ||
| Q1 24 | $648.8M | $1.2B |
净利润BMRNRIVN
| Q4 25 | $-46.6M | $-811.0M | ||
| Q3 25 | $-30.7M | $-1.2B | ||
| Q2 25 | $240.5M | $-1.1B | ||
| Q1 25 | $185.7M | $-545.0M | ||
| Q4 24 | $124.9M | $-744.0M | ||
| Q3 24 | $106.1M | $-1.1B | ||
| Q2 24 | $107.2M | $-1.5B | ||
| Q1 24 | $88.7M | $-1.4B |
毛利率BMRNRIVN
| Q4 25 | 68.5% | 9.3% | ||
| Q3 25 | 82.0% | 1.5% | ||
| Q2 25 | 81.8% | -15.8% | ||
| Q1 25 | 79.7% | 16.6% | ||
| Q4 24 | 81.8% | 9.8% | ||
| Q3 24 | 74.7% | -44.9% | ||
| Q2 24 | 81.7% | -38.9% | ||
| Q1 24 | 80.7% | -43.8% |
营业利润率BMRNRIVN
| Q4 25 | -5.1% | -64.8% | ||
| Q3 25 | -6.0% | -63.1% | ||
| Q2 25 | 33.5% | -85.5% | ||
| Q1 25 | 30.0% | -52.8% | ||
| Q4 24 | 21.6% | -38.1% | ||
| Q3 24 | 15.3% | -133.8% | ||
| Q2 24 | 16.9% | -118.7% | ||
| Q1 24 | 13.6% | -123.3% |
净利率BMRNRIVN
| Q4 25 | -5.3% | -63.1% | ||
| Q3 25 | -4.0% | -75.3% | ||
| Q2 25 | 29.1% | -85.7% | ||
| Q1 25 | 24.9% | -44.0% | ||
| Q4 24 | 16.7% | -42.9% | ||
| Q3 24 | 14.2% | -125.9% | ||
| Q2 24 | 15.1% | -125.8% | ||
| Q1 24 | 13.7% | -120.1% |
每股收益（稀释后）BMRNRIVN
| Q4 25 | $-0.22 | $-0.66 | ||
| Q3 25 | $-0.16 | $-0.96 | ||
| Q2 25 | $1.23 | $-0.97 | ||
| Q1 25 | $0.95 | $-0.48 | ||
| Q4 24 | $0.65 | $-0.67 | ||
| Q3 24 | $0.55 | $-1.08 | ||
| Q2 24 | $0.55 | $-1.46 | ||
| Q1 24 | $0.46 | $-1.48 |
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 | $6.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.1B | $4.6B |
| 总资产 | $7.6B | $14.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资BMRNRIVN
| Q4 25 | $1.3B | $6.1B | ||
| Q3 25 | $1.3B | $7.1B | ||
| Q2 25 | $1.2B | $7.5B | ||
| Q1 25 | $1.0B | $7.2B | ||
| Q4 24 | $942.8M | $7.7B | ||
| Q3 24 | $675.4M | $6.7B | ||
| Q2 24 | $972.1M | $7.9B | ||
| Q1 24 | $747.0M | $7.9B |
总债务BMRNRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | — | $4.4B |
股东权益BMRNRIVN
| Q4 25 | $6.1B | $4.6B | ||
| Q3 25 | $6.1B | $5.1B | ||
| Q2 25 | $6.0B | $6.1B | ||
| Q1 25 | $5.8B | $6.2B | ||
| Q4 24 | $5.7B | $6.6B | ||
| Q3 24 | $5.4B | $5.9B | ||
| Q2 24 | $5.3B | $6.8B | ||
| Q1 24 | $5.1B | $8.1B |
总资产BMRNRIVN
| Q4 25 | $7.6B | $14.9B | ||
| Q3 25 | $7.6B | $15.2B | ||
| Q2 25 | $7.5B | $15.6B | ||
| Q1 25 | $7.1B | $15.5B | ||
| Q4 24 | $7.0B | $15.4B | ||
| Q3 24 | $6.9B | $14.3B | ||
| Q2 24 | $7.1B | $15.4B | ||
| Q1 24 | $6.9B | $15.7B |
负债/权益比BMRNRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $58.9M | $-1.1B |
| 自由现金流率自由现金流/营收 | 6.7% | -89.0% |
| 资本支出强度资本支出/营收 | 4.7% | 36.0% |
| 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 | $725.0M | $-2.5B |
8季度趋势，按日历期对齐
经营现金流BMRNRIVN
| Q4 25 | $99.6M | $-681.0M | ||
| Q3 25 | $368.7M | $26.0M | ||
| Q2 25 | $185.3M | $64.0M | ||
| Q1 25 | $174.4M | $-188.0M | ||
| Q4 24 | $185.6M | $1.2B | ||
| Q3 24 | $221.5M | $-876.0M | ||
| Q2 24 | $118.8M | $-754.0M | ||
| Q1 24 | $47.0M | $-1.3B |
自由现金流BMRNRIVN
| Q4 25 | $58.9M | $-1.1B | ||
| Q3 25 | $340.2M | $-421.0M | ||
| Q2 25 | $168.2M | $-398.0M | ||
| Q1 25 | $157.6M | $-526.0M | ||
| Q4 24 | $166.1M | $856.0M | ||
| Q3 24 | $203.0M | $-1.2B | ||
| Q2 24 | $97.4M | $-1.0B | ||
| Q1 24 | $20.9M | $-1.5B |
自由现金流率BMRNRIVN
| Q4 25 | 6.7% | -89.0% | ||
| Q3 25 | 43.8% | -27.0% | ||
| Q2 25 | 20.4% | -30.5% | ||
| Q1 25 | 21.2% | -42.4% | ||
| Q4 24 | 22.2% | 49.4% | ||
| Q3 24 | 27.2% | -131.9% | ||
| Q2 24 | 13.7% | -89.6% | ||
| Q1 24 | 3.2% | -126.5% |
资本支出强度BMRNRIVN
| Q4 25 | 4.7% | 36.0% | ||
| Q3 25 | 3.7% | 28.7% | ||
| Q2 25 | 2.1% | 35.5% | ||
| Q1 25 | 2.3% | 27.3% | ||
| Q4 24 | 2.6% | 18.9% | ||
| Q3 24 | 2.5% | 31.7% | ||
| Q2 24 | 3.0% | 24.4% | ||
| Q1 24 | 4.0% | 21.1% |
现金转化率BMRNRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.77× | — | ||
| Q1 25 | 0.94× | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 2.09× | — | ||
| Q2 24 | 1.11× | — | ||
| 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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
