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PC CONNECTION INC（CNXN）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
PC CONNECTION INC的季度营收约是Royalty Pharma plc的1.1倍（$702.9M vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 2.9%，领先31.5%），Royalty Pharma plc同比增速更快（4.8% vs -0.8%），过去两年PC CONNECTION INC的营收复合增速更高（5.5% vs 4.6%）
PC Connection Inc.（商用名称为Connection）总部位于美国新罕布什尔州梅里马克，现有员工超2600人，在售产品超过46万种，是一家深耕IT相关产品供应与服务的企业，为不同客户群体提供多元的产品选择与配套支持。
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。
CNXN vs RPRX — 直观对比
营收规模更大
CNXN
是对方的1.1倍
$622.0M
营收增速更快
RPRX
高出5.6%
-0.8%
净利率更高
RPRX
高出31.5%
2.9%
两年增速更快
CNXN
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $702.9M | $622.0M |
| 净利润 | $20.7M | $214.2M |
| 毛利率 | 19.3% | — |
| 营业利润率 | 3.4% | 62.4% |
| 净利率 | 2.9% | 34.4% |
| 营收同比 | -0.8% | 4.8% |
| 净利润同比 | -0.0% | 2.9% |
| 每股收益（稀释后） | $0.82 | $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CNXNRPRX
| Q4 25 | $702.9M | $622.0M | ||
| Q3 25 | $709.1M | $609.3M | ||
| Q2 25 | $759.7M | $578.7M | ||
| Q1 25 | $701.0M | $568.2M | ||
| Q4 24 | $708.9M | $593.6M | ||
| Q3 24 | $724.7M | $564.7M | ||
| Q2 24 | $736.5M | $537.3M | ||
| Q1 24 | $632.0M | $568.0M |
净利润CNXNRPRX
| Q4 25 | $20.7M | $214.2M | ||
| Q3 25 | $24.7M | $288.2M | ||
| Q2 25 | $24.8M | $30.2M | ||
| Q1 25 | $13.5M | $238.3M | ||
| Q4 24 | $20.7M | $208.2M | ||
| Q3 24 | $27.1M | $544.0M | ||
| Q2 24 | $26.2M | $102.0M | ||
| Q1 24 | $13.2M | $4.8M |
毛利率CNXNRPRX
| Q4 25 | 19.3% | — | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | 18.1% | — | ||
| Q1 25 | 18.2% | — | ||
| Q4 24 | 18.3% | — | ||
| Q3 24 | 18.7% | — | ||
| Q2 24 | 18.5% | — | ||
| Q1 24 | 18.7% | — |
营业利润率CNXNRPRX
| Q4 25 | 3.4% | 62.4% | ||
| Q3 25 | 4.3% | 70.1% | ||
| Q2 25 | 4.1% | 36.3% | ||
| Q1 25 | 2.1% | 94.0% | ||
| Q4 24 | 3.2% | 60.9% | ||
| Q3 24 | 4.1% | — | ||
| Q2 24 | 4.2% | 50.2% | ||
| Q1 24 | 2.1% | -13.0% |
净利率CNXNRPRX
| Q4 25 | 2.9% | 34.4% | ||
| Q3 25 | 3.5% | 47.3% | ||
| Q2 25 | 3.3% | 5.2% | ||
| Q1 25 | 1.9% | 41.9% | ||
| Q4 24 | 2.9% | 35.1% | ||
| Q3 24 | 3.7% | 96.3% | ||
| Q2 24 | 3.6% | 19.0% | ||
| Q1 24 | 2.1% | 0.8% |
每股收益（稀释后）CNXNRPRX
| Q4 25 | $0.82 | $0.49 | ||
| Q3 25 | $0.97 | $0.67 | ||
| Q2 25 | $0.97 | $0.07 | ||
| Q1 25 | $0.51 | $0.55 | ||
| Q4 24 | $0.78 | $0.46 | ||
| Q3 24 | $1.02 | $1.21 | ||
| Q2 24 | $0.99 | $0.23 | ||
| Q1 24 | $0.50 | $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 | $406.7M | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $910.1M | $9.7B |
| 总资产 | $1.4B | $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CNXNRPRX
| Q4 25 | $406.7M | $618.7M | ||
| Q3 25 | $399.2M | $938.9M | ||
| Q2 25 | $346.1M | $631.9M | ||
| Q1 25 | $340.3M | $1.1B | ||
| Q4 24 | $442.6M | $929.0M | ||
| Q3 24 | $429.1M | $950.1M | ||
| Q2 24 | $385.8M | $1.8B | ||
| Q1 24 | $352.0M | $843.0M |
总债务CNXNRPRX
| 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CNXNRPRX
| Q4 25 | $910.1M | $9.7B | ||
| Q3 25 | $902.7M | $9.6B | ||
| Q2 25 | $884.8M | $9.5B | ||
| Q1 25 | $877.0M | $9.8B | ||
| Q4 24 | $911.0M | $10.3B | ||
| Q3 24 | $897.4M | $10.3B | ||
| Q2 24 | $874.9M | $9.8B | ||
| Q1 24 | $852.7M | $9.9B |
总资产CNXNRPRX
| Q4 25 | $1.4B | $19.6B | ||
| Q3 25 | $1.3B | $19.3B | ||
| Q2 25 | $1.3B | $18.3B | ||
| Q1 25 | $1.2B | $17.6B | ||
| Q4 24 | $1.3B | $18.2B | ||
| Q3 24 | $1.3B | $18.0B | ||
| Q2 24 | $1.3B | $17.7B | ||
| Q1 24 | $1.2B | $16.1B |
负债/权益比CNXNRPRX
| 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 | $27.4M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $25.2M | — |
| 自由现金流率自由现金流/营收 | 3.6% | — |
| 资本支出强度资本支出/营收 | 0.3% | — |
| 现金转化率经营现金流/净利润 | 1.32× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $58.0M | — |
8季度趋势，按日历期对齐
经营现金流CNXNRPRX
| Q4 25 | $27.4M | $827.1M | ||
| Q3 25 | $64.1M | $702.6M | ||
| Q2 25 | $26.3M | $364.0M | ||
| Q1 25 | $-52.4M | $596.1M | ||
| Q4 24 | $25.2M | $742.5M | ||
| Q3 24 | $52.9M | $703.6M | ||
| Q2 24 | $38.4M | $658.2M | ||
| Q1 24 | $57.3M | $664.6M |
自由现金流CNXNRPRX
| Q4 25 | $25.2M | — | ||
| Q3 25 | $62.3M | — | ||
| Q2 25 | $24.6M | — | ||
| Q1 25 | $-54.1M | — | ||
| Q4 24 | $22.9M | — | ||
| Q3 24 | $51.2M | — | ||
| Q2 24 | $36.6M | — | ||
| Q1 24 | $55.7M | — |
自由现金流率CNXNRPRX
| Q4 25 | 3.6% | — | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | -7.7% | — | ||
| Q4 24 | 3.2% | — | ||
| Q3 24 | 7.1% | — | ||
| Q2 24 | 5.0% | — | ||
| Q1 24 | 8.8% | — |
资本支出强度CNXNRPRX
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.3% | — |
现金转化率CNXNRPRX
| Q4 25 | 1.32× | 3.86× | ||
| Q3 25 | 2.59× | 2.44× | ||
| Q2 25 | 1.06× | 12.06× | ||
| Q1 25 | -3.89× | 2.50× | ||
| Q4 24 | 1.22× | 3.57× | ||
| Q3 24 | 1.96× | 1.29× | ||
| Q2 24 | 1.47× | 6.45× | ||
| Q1 24 | 4.35× | 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
CNXN
| Small And Medium Sized Businesses Segment | $273.5M | 39% |
| Notebooks And Mobility | $108.6M | 15% |
| Public Sector | $90.8M | 13% |
| Accessories | $46.4M | 7% |
| Desktops | $44.5M | 6% |
| Displays And Sounds | $37.1M | 5% |
| Software | $32.3M | 5% |
| Other Hardware And Services | $30.7M | 4% |
| Net And Com | $21.4M | 3% |
| Servers And Storage | $17.6M | 3% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
