vs
拜玛林制药（BMRN）与Royalty Pharma plc（RPRX）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Royalty Pharma plc的1.4倍（$874.6M vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs -5.3%，领先39.8%），拜玛林制药同比增速更快（17.0% vs 4.8%），过去两年拜玛林制药的营收复合增速更高（16.1% vs 4.6%）
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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
BMRN vs RPRX — 直观对比
营收规模更大
BMRN
是对方的1.4倍
$622.0M
营收增速更快
BMRN
高出12.3%
4.8%
净利率更高
RPRX
高出39.8%
-5.3%
两年增速更快
BMRN
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $874.6M | $622.0M |
| 净利润 | $-46.6M | $214.2M |
| 毛利率 | 68.5% | — |
| 营业利润率 | -5.1% | 62.4% |
| 净利率 | -5.3% | 34.4% |
| 营收同比 | 17.0% | 4.8% |
| 净利润同比 | -137.3% | 2.9% |
| 每股收益（稀释后） | $-0.22 | $0.49 |
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BMRNRPRX
| Q4 25 | $874.6M | $622.0M | ||
| Q3 25 | $776.1M | $609.3M | ||
| Q2 25 | $825.4M | $578.7M | ||
| Q1 25 | $745.1M | $568.2M | ||
| Q4 24 | $747.3M | $593.6M | ||
| Q3 24 | $745.7M | $564.7M | ||
| Q2 24 | $712.0M | $537.3M | ||
| Q1 24 | $648.8M | $568.0M |
净利润BMRNRPRX
| Q4 25 | $-46.6M | $214.2M | ||
| Q3 25 | $-30.7M | $288.2M | ||
| Q2 25 | $240.5M | $30.2M | ||
| Q1 25 | $185.7M | $238.3M | ||
| Q4 24 | $124.9M | $208.2M | ||
| Q3 24 | $106.1M | $544.0M | ||
| Q2 24 | $107.2M | $102.0M | ||
| Q1 24 | $88.7M | $4.8M |
毛利率BMRNRPRX
| 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BMRNRPRX
| Q4 25 | -5.1% | 62.4% | ||
| Q3 25 | -6.0% | 70.1% | ||
| Q2 25 | 33.5% | 36.3% | ||
| Q1 25 | 30.0% | 94.0% | ||
| Q4 24 | 21.6% | 60.9% | ||
| Q3 24 | 15.3% | — | ||
| Q2 24 | 16.9% | 50.2% | ||
| Q1 24 | 13.6% | -13.0% |
净利率BMRNRPRX
| Q4 25 | -5.3% | 34.4% | ||
| Q3 25 | -4.0% | 47.3% | ||
| Q2 25 | 29.1% | 5.2% | ||
| Q1 25 | 24.9% | 41.9% | ||
| Q4 24 | 16.7% | 35.1% | ||
| Q3 24 | 14.2% | 96.3% | ||
| Q2 24 | 15.1% | 19.0% | ||
| Q1 24 | 13.7% | 0.8% |
每股收益（稀释后）BMRNRPRX
| Q4 25 | $-0.22 | $0.49 | ||
| Q3 25 | $-0.16 | $0.67 | ||
| Q2 25 | $1.23 | $0.07 | ||
| Q1 25 | $0.95 | $0.55 | ||
| Q4 24 | $0.65 | $0.46 | ||
| Q3 24 | $0.55 | $1.21 | ||
| Q2 24 | $0.55 | $0.23 | ||
| Q1 24 | $0.46 | $0.01 |
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 | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $6.1B | $9.7B |
| 总资产 | $7.6B | $19.6B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资BMRNRPRX
| Q4 25 | $1.3B | $618.7M | ||
| Q3 25 | $1.3B | $938.9M | ||
| Q2 25 | $1.2B | $631.9M | ||
| Q1 25 | $1.0B | $1.1B | ||
| Q4 24 | $942.8M | $929.0M | ||
| Q3 24 | $675.4M | $950.1M | ||
| Q2 24 | $972.1M | $1.8B | ||
| Q1 24 | $747.0M | $843.0M |
总债务BMRNRPRX
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $6.1B |
股东权益BMRNRPRX
| Q4 25 | $6.1B | $9.7B | ||
| Q3 25 | $6.1B | $9.6B | ||
| Q2 25 | $6.0B | $9.5B | ||
| Q1 25 | $5.8B | $9.8B | ||
| Q4 24 | $5.7B | $10.3B | ||
| Q3 24 | $5.4B | $10.3B | ||
| Q2 24 | $5.3B | $9.8B | ||
| Q1 24 | $5.1B | $9.9B |
总资产BMRNRPRX
| Q4 25 | $7.6B | $19.6B | ||
| Q3 25 | $7.6B | $19.3B | ||
| Q2 25 | $7.5B | $18.3B | ||
| Q1 25 | $7.1B | $17.6B | ||
| Q4 24 | $7.0B | $18.2B | ||
| Q3 24 | $6.9B | $18.0B | ||
| Q2 24 | $7.1B | $17.7B | ||
| Q1 24 | $6.9B | $16.1B |
负债/权益比BMRNRPRX
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $58.9M | — |
| 自由现金流率自由现金流/营收 | 6.7% | — |
| 资本支出强度资本支出/营收 | 4.7% | — |
| 现金转化率经营现金流/净利润 | — | 3.86× |
| 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BMRNRPRX
| Q4 25 | $99.6M | $827.1M | ||
| Q3 25 | $368.7M | $702.6M | ||
| Q2 25 | $185.3M | $364.0M | ||
| Q1 25 | $174.4M | $596.1M | ||
| Q4 24 | $185.6M | $742.5M | ||
| Q3 24 | $221.5M | $703.6M | ||
| Q2 24 | $118.8M | $658.2M | ||
| Q1 24 | $47.0M | $664.6M |
自由现金流BMRNRPRX
| Q4 25 | $58.9M | — | ||
| Q3 25 | $340.2M | — | ||
| Q2 25 | $168.2M | — | ||
| Q1 25 | $157.6M | — | ||
| Q4 24 | $166.1M | — | ||
| Q3 24 | $203.0M | — | ||
| Q2 24 | $97.4M | — | ||
| Q1 24 | $20.9M | — |
自由现金流率BMRNRPRX
| Q4 25 | 6.7% | — | ||
| Q3 25 | 43.8% | — | ||
| Q2 25 | 20.4% | — | ||
| Q1 25 | 21.2% | — | ||
| Q4 24 | 22.2% | — | ||
| Q3 24 | 27.2% | — | ||
| Q2 24 | 13.7% | — | ||
| Q1 24 | 3.2% | — |
资本支出强度BMRNRPRX
| Q4 25 | 4.7% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 2.3% | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | 3.0% | — | ||
| Q1 24 | 4.0% | — |
现金转化率BMRNRPRX
| Q4 25 | — | 3.86× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | 0.77× | 12.06× | ||
| Q1 25 | 0.94× | 2.50× | ||
| Q4 24 | 1.49× | 3.57× | ||
| Q3 24 | 2.09× | 1.29× | ||
| Q2 24 | 1.11× | 6.45× | ||
| Q1 24 | 0.53× | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
