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柯蒂斯-莱特（CW）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
柯蒂斯-莱特的季度营收约是Royalty Pharma plc的1.5倍（$947.0M vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 14.5%，领先20.0%），柯蒂斯-莱特同比增速更快（14.9% vs 4.8%），过去两年柯蒂斯-莱特的营收复合增速更高（15.2% vs 4.6%）
柯蒂斯-莱特公司是总部位于美国北卡罗来纳州戴维森的制造与服务提供商，在美国内外均设有工厂及业务网点。公司1929年由柯蒂斯、莱特及多家供应商合并成立，成立之初即为美国最大航空企业，二战期间为美军生产了超14.2万台航空发动机。
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。
CW vs RPRX — 直观对比
营收规模更大
CW
是对方的1.5倍
$622.0M
营收增速更快
CW
高出10.1%
4.8%
净利率更高
RPRX
高出20.0%
14.5%
两年增速更快
CW
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $947.0M | $622.0M |
| 净利润 | $137.0M | $214.2M |
| 毛利率 | 37.5% | — |
| 营业利润率 | 19.2% | 62.4% |
| 净利率 | 14.5% | 34.4% |
| 营收同比 | 14.9% | 4.8% |
| 净利润同比 | 16.2% | 2.9% |
| 每股收益（稀释后） | $3.69 | $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CWRPRX
| Q4 25 | $947.0M | $622.0M | ||
| Q3 25 | $869.2M | $609.3M | ||
| Q2 25 | $876.6M | $578.7M | ||
| Q1 25 | $805.6M | $568.2M | ||
| Q4 24 | $824.3M | $593.6M | ||
| Q3 24 | $798.9M | $564.7M | ||
| Q2 24 | $784.8M | $537.3M | ||
| Q1 24 | $713.2M | $568.0M |
净利润CWRPRX
| Q4 25 | $137.0M | $214.2M | ||
| Q3 25 | $124.8M | $288.2M | ||
| Q2 25 | $121.1M | $30.2M | ||
| Q1 25 | $101.3M | $238.3M | ||
| Q4 24 | $117.9M | $208.2M | ||
| Q3 24 | $111.2M | $544.0M | ||
| Q2 24 | $99.5M | $102.0M | ||
| Q1 24 | $76.5M | $4.8M |
毛利率CWRPRX
| Q4 25 | 37.5% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 37.2% | — | ||
| Q1 25 | 36.3% | — | ||
| Q4 24 | 38.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 36.2% | — | ||
| Q1 24 | 35.6% | — |
营业利润率CWRPRX
| Q4 25 | 19.2% | 62.4% | ||
| Q3 25 | 19.1% | 70.1% | ||
| Q2 25 | 17.8% | 36.3% | ||
| Q1 25 | 16.0% | 94.0% | ||
| Q4 24 | 18.8% | 60.9% | ||
| Q3 24 | 18.1% | — | ||
| Q2 24 | 16.4% | 50.2% | ||
| Q1 24 | 14.0% | -13.0% |
净利率CWRPRX
| Q4 25 | 14.5% | 34.4% | ||
| Q3 25 | 14.4% | 47.3% | ||
| Q2 25 | 13.8% | 5.2% | ||
| Q1 25 | 12.6% | 41.9% | ||
| Q4 24 | 14.3% | 35.1% | ||
| Q3 24 | 13.9% | 96.3% | ||
| Q2 24 | 12.7% | 19.0% | ||
| Q1 24 | 10.7% | 0.8% |
每股收益（稀释后）CWRPRX
| Q4 25 | $3.69 | $0.49 | ||
| Q3 25 | $3.31 | $0.67 | ||
| Q2 25 | $3.19 | $0.07 | ||
| Q1 25 | $2.68 | $0.55 | ||
| Q4 24 | $3.09 | $0.46 | ||
| Q3 24 | $2.89 | $1.21 | ||
| Q2 24 | $2.58 | $0.23 | ||
| Q1 24 | $1.99 | $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 | — | $618.7M |
| 总债务越低越好 | $957.9M | $9.0B |
| 股东权益账面价值 | $2.5B | $9.7B |
| 总资产 | $5.2B | $19.6B |
| 负债/权益比越低杠杆越低 | 0.38× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资CWRPRX
| Q4 25 | — | $618.7M | ||
| Q3 25 | — | $938.9M | ||
| Q2 25 | — | $631.9M | ||
| Q1 25 | $226.5M | $1.1B | ||
| Q4 24 | $385.0M | $929.0M | ||
| Q3 24 | — | $950.1M | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | $338.0M | $843.0M |
总债务CWRPRX
| Q4 25 | $957.9M | $9.0B | ||
| Q3 25 | $968.6M | $8.9B | ||
| Q2 25 | $958.4M | $8.0B | ||
| Q1 25 | $958.6M | $7.6B | ||
| Q4 24 | $1.0B | $7.6B | ||
| Q3 24 | $1.0B | $7.6B | ||
| Q2 24 | $1.0B | $7.6B | ||
| Q1 24 | $1.1B | $6.1B |
股东权益CWRPRX
| Q4 25 | $2.5B | $9.7B | ||
| Q3 25 | $2.5B | $9.6B | ||
| Q2 25 | $2.7B | $9.5B | ||
| Q1 25 | $2.6B | $9.8B | ||
| Q4 24 | $2.4B | $10.3B | ||
| Q3 24 | $2.5B | $10.3B | ||
| Q2 24 | $2.5B | $9.8B | ||
| Q1 24 | $2.4B | $9.9B |
总资产CWRPRX
| Q4 25 | $5.2B | $19.6B | ||
| Q3 25 | $5.1B | $19.3B | ||
| Q2 25 | $5.2B | $18.3B | ||
| Q1 25 | $5.0B | $17.6B | ||
| Q4 24 | $5.0B | $18.2B | ||
| Q3 24 | $4.9B | $18.0B | ||
| Q2 24 | $4.7B | $17.7B | ||
| Q1 24 | $4.6B | $16.1B |
负债/权益比CWRPRX
| Q4 25 | 0.38× | 0.92× | ||
| Q3 25 | 0.38× | 0.93× | ||
| Q2 25 | 0.35× | 0.84× | ||
| Q1 25 | 0.37× | 0.78× | ||
| Q4 24 | 0.43× | 0.74× | ||
| Q3 24 | 0.42× | 0.74× | ||
| Q2 24 | 0.43× | 0.78× | ||
| Q1 24 | 0.44× | 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 | $352.7M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $315.1M | — |
| 自由现金流率自由现金流/营收 | 33.3% | — |
| 资本支出强度资本支出/营收 | 4.0% | — |
| 现金转化率经营现金流/净利润 | 2.57× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $553.7M | — |
8季度趋势，按日历期对齐
经营现金流CWRPRX
| Q4 25 | $352.7M | $827.1M | ||
| Q3 25 | $192.8M | $702.6M | ||
| Q2 25 | $136.6M | $364.0M | ||
| Q1 25 | $-38.8M | $596.1M | ||
| Q4 24 | $301.3M | $742.5M | ||
| Q3 24 | $177.3M | $703.6M | ||
| Q2 24 | $111.3M | $658.2M | ||
| Q1 24 | $-45.6M | $664.6M |
自由现金流CWRPRX
| Q4 25 | $315.1M | — | ||
| Q3 25 | $175.9M | — | ||
| Q2 25 | $117.2M | — | ||
| Q1 25 | $-54.5M | — | ||
| Q4 24 | $278.0M | — | ||
| Q3 24 | $162.7M | — | ||
| Q2 24 | $100.3M | — | ||
| Q1 24 | $-57.7M | — |
自由现金流率CWRPRX
| Q4 25 | 33.3% | — | ||
| Q3 25 | 20.2% | — | ||
| Q2 25 | 13.4% | — | ||
| Q1 25 | -6.8% | — | ||
| Q4 24 | 33.7% | — | ||
| Q3 24 | 20.4% | — | ||
| Q2 24 | 12.8% | — | ||
| Q1 24 | -8.1% | — |
资本支出强度CWRPRX
| Q4 25 | 4.0% | — | ||
| Q3 25 | 1.9% | — | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 1.8% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 1.7% | — |
现金转化率CWRPRX
| Q4 25 | 2.57× | 3.86× | ||
| Q3 25 | 1.54× | 2.44× | ||
| Q2 25 | 1.13× | 12.06× | ||
| Q1 25 | -0.38× | 2.50× | ||
| Q4 24 | 2.56× | 3.57× | ||
| Q3 24 | 1.59× | 1.29× | ||
| Q2 24 | 1.12× | 6.45× | ||
| Q1 24 | -0.60× | 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
CW
| Naval Power | $417.4M | 44% |
| Defense Electronics | $268.3M | 28% |
| Aerospace Industrial | $262.4M | 28% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
