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波士顿科学（BSX）与网易（NTES）财务数据对比。点击上方公司名可切换其他公司
波士顿科学的季度营收约是网易的1.3倍（$5.2B vs $4.0B），网易净利率更高（31.0% vs 25.7%，领先5.3%），过去两年波士顿科学的营收复合增速更高（12.4% vs 9.7%）
波士顿科学是一家美国跨国生物科技与生物医学工程企业，专注于介入医学领域医疗设备的研发生产，产品覆盖介入心内科、介入放射科、神经调控、肿瘤、泌尿、妇科、内镜、心脏及血管外科等多个专科诊疗场景。
网易由丁磊于1997年6月创立，是全球规模领先的互联网与网络游戏企业之一。公司核心业务涵盖PC及移动端网络游戏的研发与发行，同时布局广告服务、电子邮箱服务及电商平台等多元业务板块。
BSX vs NTES — 直观对比
营收规模更大
BSX
是对方的1.3倍
$4.0B
净利率更高
NTES
高出5.3%
25.7%
两年增速更快
BSX
近两年复合增速
9.7%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.2B | $4.0B |
| 净利润 | $1.3B | $1.2B |
| 毛利率 | 69.5% | 64.1% |
| 营业利润率 | — | 28.3% |
| 净利率 | 25.7% | 31.0% |
| 营收同比 | 11.6% | — |
| 净利润同比 | 99.0% | — |
| 每股收益（稀释后） | $0.90 | — |
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BSXNTES
| Q1 26 | $5.2B | — | ||
| Q4 25 | $5.3B | — | ||
| Q3 25 | $5.1B | $4.0B | ||
| Q2 25 | $5.1B | $3.9B | ||
| Q1 25 | $4.7B | $4.0B | ||
| Q4 24 | $4.6B | — | ||
| Q3 24 | $4.2B | $3.7B | ||
| Q2 24 | $4.1B | $3.5B |
净利润BSXNTES
| Q1 26 | $1.3B | — | ||
| Q4 25 | $670.0M | — | ||
| Q3 25 | $755.0M | $1.2B | ||
| Q2 25 | $795.0M | $1.3B | ||
| Q1 25 | $672.0M | $1.5B | ||
| Q4 24 | $563.0M | — | ||
| Q3 24 | $468.0M | $955.7M | ||
| Q2 24 | $322.0M | $939.6M |
毛利率BSXNTES
| Q1 26 | 69.5% | — | ||
| Q4 25 | 69.6% | — | ||
| Q3 25 | 69.9% | 64.1% | ||
| Q2 25 | 67.7% | 64.7% | ||
| Q1 25 | 68.8% | 64.1% | ||
| Q4 24 | 67.8% | — | ||
| Q3 24 | 68.8% | 62.9% | ||
| Q2 24 | 69.2% | 62.9% |
营业利润率BSXNTES
| Q1 26 | — | — | ||
| Q4 25 | 15.6% | — | ||
| Q3 25 | 20.7% | 28.3% | ||
| Q2 25 | 16.2% | 32.5% | ||
| Q1 25 | 19.8% | 36.2% | ||
| Q4 24 | 14.8% | — | ||
| Q3 24 | 17.4% | 27.3% | ||
| Q2 24 | 12.6% | 27.4% |
净利率BSXNTES
| Q1 26 | 25.7% | — | ||
| Q4 25 | 12.7% | — | ||
| Q3 25 | 14.9% | 31.0% | ||
| Q2 25 | 15.7% | 32.6% | ||
| Q1 25 | 14.4% | 36.6% | ||
| Q4 24 | 12.3% | — | ||
| Q3 24 | 11.1% | 25.6% | ||
| Q2 24 | 7.8% | 26.8% |
每股收益（稀释后）BSXNTES
| Q1 26 | $0.90 | — | ||
| Q4 25 | $0.45 | — | ||
| Q3 25 | $0.51 | — | ||
| Q2 25 | $0.53 | — | ||
| Q1 25 | $0.45 | — | ||
| Q4 24 | $0.38 | — | ||
| Q3 24 | $0.32 | — | ||
| Q2 24 | $0.22 | — |
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 | — | $31.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $160.8B |
| 总资产 | — | $214.5B |
| 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BSXNTES
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.3B | $31.3B | ||
| Q2 25 | $534.0M | $54.4B | ||
| Q1 25 | $725.0M | $41.7B | ||
| Q4 24 | $414.0M | — | ||
| Q3 24 | $2.5B | $20.2B | ||
| Q2 24 | $2.9B | $19.0B |
总债务BSXNTES
| Q1 26 | — | — | ||
| Q4 25 | $11.1B | — | ||
| Q3 25 | $11.1B | — | ||
| Q2 25 | $11.1B | — | ||
| Q1 25 | $10.5B | — | ||
| Q4 24 | $9.0B | — | ||
| Q3 24 | $9.2B | — | ||
| Q2 24 | $9.0B | — |
股东权益BSXNTES
| Q1 26 | — | — | ||
| Q4 25 | $24.2B | — | ||
| Q3 25 | $23.4B | $160.8B | ||
| Q2 25 | $22.4B | $154.0B | ||
| Q1 25 | $22.2B | $147.8B | ||
| Q4 24 | $21.8B | — | ||
| Q3 24 | $20.7B | $135.6B | ||
| Q2 24 | $20.4B | $134.2B |
总资产BSXNTES
| Q1 26 | — | — | ||
| Q4 25 | $43.7B | — | ||
| Q3 25 | $42.7B | $214.5B | ||
| Q2 25 | $41.6B | $208.5B | ||
| Q1 25 | $40.1B | $200.9B | ||
| Q4 24 | $39.4B | — | ||
| Q3 24 | $38.1B | $184.9B | ||
| Q2 24 | $37.1B | $183.3B |
负债/权益比BSXNTES
| Q1 26 | — | — | ||
| Q4 25 | 0.46× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.50× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.45× | — | ||
| Q2 24 | 0.44× | — |
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 | — | $1.8B |
| 自由现金流经营现金流 - 资本支出 | — | $1.8B |
| 自由现金流率自由现金流/营收 | — | 44.7% |
| 资本支出强度资本支出/营收 | — | 1.0% |
| 现金转化率经营现金流/净利润 | — | 1.47× |
| 过去12个月自由现金流最近4个季度 | — | $6.3B |
8季度趋势，按日历期对齐
经营现金流BSXNTES
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.3B | $1.8B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $541.0M | $1.7B | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.0B | $1.5B | ||
| Q2 24 | $813.0M | $898.8M |
自由现金流BSXNTES
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $1.1B | $1.5B | ||
| Q1 25 | $354.0M | $1.6B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $823.0M | $1.5B | ||
| Q2 24 | $658.0M | $875.6M |
自由现金流率BSXNTES
| Q1 26 | — | — | ||
| Q4 25 | 19.2% | — | ||
| Q3 25 | 22.9% | 44.7% | ||
| Q2 25 | 22.3% | 38.3% | ||
| Q1 25 | 7.6% | 40.4% | ||
| Q4 24 | 25.8% | — | ||
| Q3 24 | 19.6% | 38.9% | ||
| Q2 24 | 16.0% | 25.0% |
资本支出强度BSXNTES
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | — | ||
| Q3 25 | 3.6% | 1.0% | ||
| Q2 25 | 3.1% | 0.7% | ||
| Q1 25 | 4.0% | 1.6% | ||
| Q4 24 | 6.1% | — | ||
| Q3 24 | 4.3% | 1.4% | ||
| Q2 24 | 3.8% | 0.7% |
现金转化率BSXNTES
| Q1 26 | — | — | ||
| Q4 25 | 2.04× | — | ||
| Q3 25 | 1.78× | 1.47× | ||
| Q2 25 | 1.62× | 1.20× | ||
| Q1 25 | 0.81× | 1.15× | ||
| Q4 24 | 2.59× | — | ||
| Q3 24 | 2.14× | 1.58× | ||
| Q2 24 | 2.52× | 0.96× |
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
BSX
| Cardiovascular | $3.1B | 59% |
| Endoscopy | $673.0M | 13% |
| Urology | $633.0M | 12% |
| Other | $386.0M | 7% |
| Neuromodulation | $271.0M | 5% |
| LACA | $155.0M | 3% |
NTES
| Games and related value-added services | $3.3B | 82% |
| NetEase Cloud Music | $275.9M | 7% |
| Youdao | $228.8M | 6% |
| Innovative businesses and others | $202.1M | 5% |
