vs
塞拉尼斯（CE）与百利高（PRGO）财务数据对比。点击上方公司名可切换其他公司
塞拉尼斯的季度营收约是百利高的2.0倍（$2.2B vs $1.1B），塞拉尼斯净利率更高（0.6% vs -127.8%，领先128.4%），百利高同比增速更快（-2.5% vs -7.0%），塞拉尼斯自由现金流更多（$168.0M vs $148.6M），过去两年百利高的营收复合增速更高（1.3% vs -8.1%）
塞拉尼斯是总部位于美国得克萨斯州欧文市的技术及特种材料企业，位列财富500强。公司是全球醋酸行业领军生产商，年产量约195万吨，占全球总产量的20%左右，同时也是全球最大的醋酸乙烯酯单体（VAM）供应商。
百利高（Perrigo）是一家注册于爱尔兰的非处方仿制药生产商，主打自有品牌OTC药品业务。公司70%的净销售额来自美国医疗市场，为优化税务布局将法定总部设在爱尔兰，该地区销售额仅占总营收的0.6%，2013年曾完成美国历史上第六大企业税收倒置交易。
CE vs PRGO — 直观对比
营收规模更大
CE
是对方的2.0倍
$1.1B
营收增速更快
PRGO
高出4.5%
-7.0%
净利率更高
CE
高出128.4%
-127.8%
自由现金流更多
CE
多$19.4M
$148.6M
两年增速更快
PRGO
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.1B |
| 净利润 | $14.0M | $-1.4B |
| 毛利率 | 19.1% | 32.6% |
| 营业利润率 | 4.0% | -116.0% |
| 净利率 | 0.6% | -127.8% |
| 营收同比 | -7.0% | -2.5% |
| 净利润同比 | 100.7% | -3093.9% |
| 每股收益（稀释后） | $0.13 | $-10.23 |
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CEPRGO
| Q4 25 | $2.2B | $1.1B | ||
| Q3 25 | $2.4B | $1.0B | ||
| Q2 25 | $2.5B | $1.1B | ||
| Q1 25 | $2.4B | $1.0B | ||
| Q4 24 | $2.4B | $1.1B | ||
| Q3 24 | $2.6B | $1.1B | ||
| Q2 24 | $2.7B | $1.1B | ||
| Q1 24 | $2.6B | $1.1B |
净利润CEPRGO
| Q4 25 | $14.0M | $-1.4B | ||
| Q3 25 | $-1.4B | $7.5M | ||
| Q2 25 | $199.0M | $-8.4M | ||
| Q1 25 | $-21.0M | $-6.4M | ||
| Q4 24 | $-1.9B | $-44.4M | ||
| Q3 24 | $116.0M | $-21.0M | ||
| Q2 24 | $155.0M | $-108.4M | ||
| Q1 24 | $121.0M | $2.0M |
毛利率CEPRGO
| Q4 25 | 19.1% | 32.6% | ||
| Q3 25 | 21.5% | 36.1% | ||
| Q2 25 | 21.1% | 34.4% | ||
| Q1 25 | 19.9% | 37.6% | ||
| Q4 24 | 22.7% | 33.9% | ||
| Q3 24 | 23.5% | 37.2% | ||
| Q2 24 | 24.2% | 37.0% | ||
| Q1 24 | 21.2% | 33.1% |
营业利润率CEPRGO
| Q4 25 | 4.0% | -116.0% | ||
| Q3 25 | -52.7% | 7.0% | ||
| Q2 25 | 9.2% | 4.3% | ||
| Q1 25 | 7.0% | 4.5% | ||
| Q4 24 | -59.3% | 10.0% | ||
| Q3 24 | 9.4% | 7.4% | ||
| Q2 24 | 9.4% | -2.5% | ||
| Q1 24 | 8.0% | -5.1% |
净利率CEPRGO
| Q4 25 | 0.6% | -127.8% | ||
| Q3 25 | -56.1% | 0.7% | ||
| Q2 25 | 7.9% | -0.8% | ||
| Q1 25 | -0.9% | -0.6% | ||
| Q4 24 | -80.8% | -3.9% | ||
| Q3 24 | 4.4% | -1.9% | ||
| Q2 24 | 5.8% | -10.2% | ||
| Q1 24 | 4.6% | 0.2% |
每股收益（稀释后）CEPRGO
| Q4 25 | $0.13 | $-10.23 | ||
| Q3 25 | $-12.39 | $0.05 | ||
| Q2 25 | $1.81 | $-0.06 | ||
| Q1 25 | $-0.19 | $-0.05 | ||
| Q4 24 | $-17.50 | $-0.32 | ||
| Q3 24 | $1.06 | $-0.15 | ||
| Q2 24 | $1.41 | $-0.79 | ||
| Q1 24 | $1.10 | $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 | — | — |
| 总债务越低越好 | $11.4B | — |
| 股东权益账面价值 | $4.0B | $2.9B |
| 总资产 | $21.7B | $8.5B |
| 负债/权益比越低杠杆越低 | 2.81× | — |
8季度趋势，按日历期对齐
现金及短期投资CEPRGO
| Q4 25 | — | — | ||
| Q3 25 | — | $432.1M | ||
| Q2 25 | — | $454.2M | ||
| Q1 25 | — | $409.9M | ||
| Q4 24 | — | $558.8M | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $542.8M | ||
| Q1 24 | — | $658.5M |
总债务CEPRGO
| Q4 25 | $11.4B | — | ||
| Q3 25 | $11.7B | — | ||
| Q2 25 | $12.7B | — | ||
| Q1 25 | $12.4B | — | ||
| Q4 24 | $11.1B | — | ||
| Q3 24 | $11.3B | — | ||
| Q2 24 | $11.1B | — | ||
| Q1 24 | $11.0B | — |
股东权益CEPRGO
| Q4 25 | $4.0B | $2.9B | ||
| Q3 25 | $4.0B | $4.4B | ||
| Q2 25 | $5.3B | $4.5B | ||
| Q1 25 | $5.2B | $4.4B | ||
| Q4 24 | $5.2B | $4.3B | ||
| Q3 24 | $7.3B | $4.6B | ||
| Q2 24 | $7.2B | $4.5B | ||
| Q1 24 | $7.1B | $4.7B |
总资产CEPRGO
| Q4 25 | $21.7B | $8.5B | ||
| Q3 25 | $22.2B | $10.1B | ||
| Q2 25 | $23.7B | $10.1B | ||
| Q1 25 | $23.2B | $9.8B | ||
| Q4 24 | $22.9B | $9.6B | ||
| Q3 24 | $25.9B | $11.2B | ||
| Q2 24 | $25.8B | $10.4B | ||
| Q1 24 | $26.0B | $10.6B |
负债/权益比CEPRGO
| Q4 25 | 2.81× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 2.41× | — | ||
| Q1 25 | 2.39× | — | ||
| Q4 24 | 2.14× | — | ||
| Q3 24 | 1.56× | — | ||
| Q2 24 | 1.54× | — | ||
| Q1 24 | 1.56× | — |
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 | $252.0M | $175.4M |
| 自由现金流经营现金流 - 资本支出 | $168.0M | $148.6M |
| 自由现金流率自由现金流/营收 | 7.6% | 13.4% |
| 资本支出强度资本支出/营收 | 3.8% | 2.4% |
| 现金转化率经营现金流/净利润 | 18.00× | — |
| 过去12个月自由现金流最近4个季度 | $803.0M | $145.1M |
8季度趋势，按日历期对齐
经营现金流CEPRGO
| Q4 25 | $252.0M | $175.4M | ||
| Q3 25 | $447.0M | $51.7M | ||
| Q2 25 | $410.0M | $75.9M | ||
| Q1 25 | $37.0M | $-64.5M | ||
| Q4 24 | $494.0M | $312.6M | ||
| Q3 24 | $79.0M | $42.2M | ||
| Q2 24 | $292.0M | $9.5M | ||
| Q1 24 | $101.0M | $-1.4M |
自由现金流CEPRGO
| Q4 25 | $168.0M | $148.6M | ||
| Q3 25 | $383.0M | $29.8M | ||
| Q2 25 | $317.0M | $56.7M | ||
| Q1 25 | $-65.0M | $-90.0M | ||
| Q4 24 | $389.0M | $274.9M | ||
| Q3 24 | $-9.0M | $15.1M | ||
| Q2 24 | $187.0M | $-18.9M | ||
| Q1 24 | $-36.0M | $-26.5M |
自由现金流率CEPRGO
| Q4 25 | 7.6% | 13.4% | ||
| Q3 25 | 15.8% | 2.9% | ||
| Q2 25 | 12.5% | 5.4% | ||
| Q1 25 | -2.7% | -8.6% | ||
| Q4 24 | 16.4% | 24.2% | ||
| Q3 24 | -0.3% | 1.4% | ||
| Q2 24 | 7.1% | -1.8% | ||
| Q1 24 | -1.4% | -2.4% |
资本支出强度CEPRGO
| Q4 25 | 3.8% | 2.4% | ||
| Q3 25 | 2.6% | 2.1% | ||
| Q2 25 | 3.7% | 1.8% | ||
| Q1 25 | 4.3% | 2.4% | ||
| Q4 24 | 4.4% | 3.3% | ||
| Q3 24 | 3.3% | 2.5% | ||
| Q2 24 | 4.0% | 2.7% | ||
| Q1 24 | 5.2% | 2.3% |
现金转化率CEPRGO
| Q4 25 | 18.00× | — | ||
| Q3 25 | — | 6.89× | ||
| Q2 25 | 2.06× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 1.88× | — | ||
| Q1 24 | 0.83× | -0.70× |
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
CE
| Engineered Materials | $1.3B | 58% |
| Acetyl Chain | $940.0M | 43% |
PRGO
| Consumer Self Care Americas | $697.0M | 63% |
| Digestive Health | $123.9M | 11% |
| Nutrition | $108.3M | 10% |
| Healthy Lifestyle | $94.8M | 9% |
| Pain And Sleep Aids | $87.1M | 8% |
