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Cboe Global Markets（CBOE）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
Cboe Global Markets的季度营收约是Royalty Pharma plc的1.9倍（$1.2B vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 26.0%，领先8.4%），Cboe Global Markets同比增速更快（8.7% vs 4.8%），过去两年Cboe Global Markets的营收复合增速更高（12.2% vs 4.6%）
Cboe Global Markets是总部位于美国芝加哥的金融交易所运营集团，旗下拥有并运营多类交易所及交易场所，业务覆盖股票、期权、期货、数字资产等多个交易领域，为全球市场参与者提供专业交易服务支持。
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。
CBOE vs RPRX — 直观对比
营收规模更大
CBOE
是对方的1.9倍
$622.0M
营收增速更快
CBOE
高出3.9%
4.8%
净利率更高
RPRX
高出8.4%
26.0%
两年增速更快
CBOE
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $622.0M |
| 净利润 | $313.5M | $214.2M |
| 毛利率 | 55.7% | — |
| 营业利润率 | 33.5% | 62.4% |
| 净利率 | 26.0% | 34.4% |
| 营收同比 | 8.7% | 4.8% |
| 净利润同比 | 59.5% | 2.9% |
| 每股收益（稀释后） | $2.97 | $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CBOERPRX
| Q4 25 | $1.2B | $622.0M | ||
| Q3 25 | $1.1B | $609.3M | ||
| Q2 25 | $1.2B | $578.7M | ||
| Q1 25 | $1.2B | $568.2M | ||
| Q4 24 | $1.1B | $593.6M | ||
| Q3 24 | $1.1B | $564.7M | ||
| Q2 24 | $974.0M | $537.3M | ||
| Q1 24 | $957.2M | $568.0M |
净利润CBOERPRX
| Q4 25 | $313.5M | $214.2M | ||
| Q3 25 | $300.8M | $288.2M | ||
| Q2 25 | $235.1M | $30.2M | ||
| Q1 25 | $250.6M | $238.3M | ||
| Q4 24 | $196.5M | $208.2M | ||
| Q3 24 | $218.5M | $544.0M | ||
| Q2 24 | $140.4M | $102.0M | ||
| Q1 24 | $209.5M | $4.8M |
毛利率CBOERPRX
| Q4 25 | 55.7% | — | ||
| Q3 25 | 53.0% | — | ||
| Q2 25 | 50.0% | — | ||
| Q1 25 | 47.3% | — | ||
| Q4 24 | 47.4% | — | ||
| Q3 24 | 50.4% | — | ||
| Q2 24 | 52.8% | — | ||
| Q1 24 | 52.5% | — |
营业利润率CBOERPRX
| Q4 25 | 33.5% | 62.4% | ||
| Q3 25 | 32.4% | 70.1% | ||
| Q2 25 | 28.9% | 36.3% | ||
| Q1 25 | 29.6% | 94.0% | ||
| Q4 24 | 27.0% | 60.9% | ||
| Q3 24 | 29.1% | — | ||
| Q2 24 | 21.6% | 50.2% | ||
| Q1 24 | 29.5% | -13.0% |
净利率CBOERPRX
| Q4 25 | 26.0% | 34.4% | ||
| Q3 25 | 26.3% | 47.3% | ||
| Q2 25 | 20.0% | 5.2% | ||
| Q1 25 | 21.0% | 41.9% | ||
| Q4 24 | 17.7% | 35.1% | ||
| Q3 24 | 20.7% | 96.3% | ||
| Q2 24 | 14.4% | 19.0% | ||
| Q1 24 | 21.9% | 0.8% |
每股收益（稀释后）CBOERPRX
| Q4 25 | $2.97 | $0.49 | ||
| Q3 25 | $2.85 | $0.67 | ||
| Q2 25 | $2.23 | $0.07 | ||
| Q1 25 | $2.37 | $0.55 | ||
| Q4 24 | $1.85 | $0.46 | ||
| Q3 24 | $2.07 | $1.21 | ||
| Q2 24 | $1.33 | $0.23 | ||
| Q1 24 | $1.96 | $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 | $2.3B | $618.7M |
| 总债务越低越好 | $1.4B | $9.0B |
| 股东权益账面价值 | $5.1B | $9.7B |
| 总资产 | $9.3B | $19.6B |
| 负债/权益比越低杠杆越低 | 0.28× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资CBOERPRX
| Q4 25 | $2.3B | $618.7M | ||
| Q3 25 | $1.5B | $938.9M | ||
| Q2 25 | $1.5B | $631.9M | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.0B | $929.0M | ||
| Q3 24 | $763.2M | $950.1M | ||
| Q2 24 | $698.3M | $1.8B | ||
| Q1 24 | $595.1M | $843.0M |
总债务CBOERPRX
| Q4 25 | $1.4B | $9.0B | ||
| Q3 25 | $1.4B | $8.9B | ||
| Q2 25 | $1.4B | $8.0B | ||
| Q1 25 | $1.4B | $7.6B | ||
| Q4 24 | $1.4B | $7.6B | ||
| Q3 24 | $1.4B | $7.6B | ||
| Q2 24 | $1.4B | $7.6B | ||
| Q1 24 | $1.4B | $6.1B |
股东权益CBOERPRX
| Q4 25 | $5.1B | $9.7B | ||
| Q3 25 | $4.9B | $9.6B | ||
| Q2 25 | $4.7B | $9.5B | ||
| Q1 25 | $4.5B | $9.8B | ||
| Q4 24 | $4.3B | $10.3B | ||
| Q3 24 | $4.2B | $10.3B | ||
| Q2 24 | $4.0B | $9.8B | ||
| Q1 24 | $4.0B | $9.9B |
总资产CBOERPRX
| Q4 25 | $9.3B | $19.6B | ||
| Q3 25 | $9.1B | $19.3B | ||
| Q2 25 | $9.0B | $18.3B | ||
| Q1 25 | $8.7B | $17.6B | ||
| Q4 24 | $7.8B | $18.2B | ||
| Q3 24 | $8.7B | $18.0B | ||
| Q2 24 | $9.3B | $17.7B | ||
| Q1 24 | $8.2B | $16.1B |
负债/权益比CBOERPRX
| Q4 25 | 0.28× | 0.92× | ||
| Q3 25 | 0.30× | 0.93× | ||
| Q2 25 | 0.31× | 0.84× | ||
| Q1 25 | 0.32× | 0.78× | ||
| Q4 24 | 0.34× | 0.74× | ||
| Q3 24 | 0.34× | 0.74× | ||
| Q2 24 | 0.36× | 0.78× | ||
| Q1 24 | 0.36× | 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 | $352.1M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $332.1M | — |
| 自由现金流率自由现金流/营收 | 27.6% | — |
| 资本支出强度资本支出/营收 | 1.7% | — |
| 现金转化率经营现金流/净利润 | 1.12× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $1.7B | — |
8季度趋势，按日历期对齐
经营现金流CBOERPRX
| Q4 25 | $352.1M | $827.1M | ||
| Q3 25 | $153.9M | $702.6M | ||
| Q2 25 | $333.7M | $364.0M | ||
| Q1 25 | $912.9M | $596.1M | ||
| Q4 24 | $-710.4M | $742.5M | ||
| Q3 24 | $-578.5M | $703.6M | ||
| Q2 24 | $1.5B | $658.2M | ||
| Q1 24 | $895.6M | $664.6M |
自由现金流CBOERPRX
| Q4 25 | $332.1M | — | ||
| Q3 25 | $137.9M | — | ||
| Q2 25 | $313.4M | — | ||
| Q1 25 | $898.2M | — | ||
| Q4 24 | $-734.2M | — | ||
| Q3 24 | $-590.5M | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $888.3M | — |
自由现金流率CBOERPRX
| Q4 25 | 27.6% | — | ||
| Q3 25 | 12.1% | — | ||
| Q2 25 | 26.7% | — | ||
| Q1 25 | 75.2% | — | ||
| Q4 24 | -66.3% | — | ||
| Q3 24 | -55.9% | — | ||
| Q2 24 | 151.6% | — | ||
| Q1 24 | 92.8% | — |
资本支出强度CBOERPRX
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 0.8% | — |
现金转化率CBOERPRX
| Q4 25 | 1.12× | 3.86× | ||
| Q3 25 | 0.51× | 2.44× | ||
| Q2 25 | 1.42× | 12.06× | ||
| Q1 25 | 3.64× | 2.50× | ||
| Q4 24 | -3.62× | 3.57× | ||
| Q3 24 | -2.65× | 1.29× | ||
| Q2 24 | 10.64× | 6.45× | ||
| Q1 24 | 4.27× | 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
CBOE
| Liquidity Payments | $443.6M | 37% |
| Cash And Spot Markets | $431.3M | 36% |
| Transferred Over Time | $84.3M | 7% |
| Market Data Fees | $82.7M | 7% |
| Royalty Fees | $68.9M | 6% |
| Futures | $36.1M | 3% |
| Global FX | $24.4M | 2% |
| Other Revenue | $23.1M | 2% |
| Routing And Clearing | $20.1M | 2% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
