vs
GE医疗（DHC）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
Royalty Pharma plc的季度营收约是GE医疗的1.6倍（$622.0M vs $379.6M），Royalty Pharma plc净利率更高（34.4% vs -5.6%，领先40.0%），Royalty Pharma plc同比增速更快（4.8% vs -0.0%），过去两年Royalty Pharma plc的营收复合增速更高（4.6% vs 1.2%）
GE医疗是一家总部位于美国伊利诺伊州芝加哥市的医疗科技企业，业务涵盖四大板块：医疗影像设备，包括分子成像、CT、核磁共振、妇科健康筛查及X光系统；超声设备；患者护理解决方案，聚焦远程患者监测、麻醉呼吸护理、心脏诊断及婴幼儿护理；此外还涉及医药相关领域，是全球医疗行业的知名企业。
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。
DHC vs RPRX — 直观对比
营收规模更大
RPRX
是对方的1.6倍
$379.6M
营收增速更快
RPRX
高出4.8%
-0.0%
净利率更高
RPRX
高出40.0%
-5.6%
两年增速更快
RPRX
近两年复合增速
1.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $379.6M | $622.0M |
| 净利润 | $-21.2M | $214.2M |
| 毛利率 | — | — |
| 营业利润率 | -12.6% | 62.4% |
| 净利率 | -5.6% | 34.4% |
| 营收同比 | -0.0% | 4.8% |
| 净利润同比 | 75.7% | 2.9% |
| 每股收益（稀释后） | $-0.09 | $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DHCRPRX
| Q4 25 | $379.6M | $622.0M | ||
| Q3 25 | $388.7M | $609.3M | ||
| Q2 25 | $382.7M | $578.7M | ||
| Q1 25 | $386.9M | $568.2M | ||
| Q4 24 | $379.6M | $593.6M | ||
| Q3 24 | $373.6M | $564.7M | ||
| Q2 24 | $371.4M | $537.3M | ||
| Q1 24 | $370.8M | $568.0M |
净利润DHCRPRX
| Q4 25 | $-21.2M | $214.2M | ||
| Q3 25 | $-164.0M | $288.2M | ||
| Q2 25 | $-91.6M | $30.2M | ||
| Q1 25 | $-9.0M | $238.3M | ||
| Q4 24 | $-87.4M | $208.2M | ||
| Q3 24 | $-98.7M | $544.0M | ||
| Q2 24 | $-97.9M | $102.0M | ||
| Q1 24 | $-86.3M | $4.8M |
营业利润率DHCRPRX
| Q4 25 | -12.6% | 62.4% | ||
| Q3 25 | -43.4% | 70.1% | ||
| Q2 25 | -24.5% | 36.3% | ||
| Q1 25 | -2.7% | 94.0% | ||
| Q4 24 | -26.1% | 60.9% | ||
| Q3 24 | -26.5% | — | ||
| Q2 24 | -23.0% | 50.2% | ||
| Q1 24 | -23.7% | -13.0% |
净利率DHCRPRX
| Q4 25 | -5.6% | 34.4% | ||
| Q3 25 | -42.2% | 47.3% | ||
| Q2 25 | -23.9% | 5.2% | ||
| Q1 25 | -2.3% | 41.9% | ||
| Q4 24 | -23.0% | 35.1% | ||
| Q3 24 | -26.4% | 96.3% | ||
| Q2 24 | -26.3% | 19.0% | ||
| Q1 24 | -23.3% | 0.8% |
每股收益（稀释后）DHCRPRX
| Q4 25 | $-0.09 | $0.49 | ||
| Q3 25 | $-0.68 | $0.67 | ||
| Q2 25 | $-0.38 | $0.07 | ||
| Q1 25 | $-0.04 | $0.55 | ||
| Q4 24 | $-0.37 | $0.46 | ||
| Q3 24 | $-0.41 | $1.21 | ||
| Q2 24 | $-0.41 | $0.23 | ||
| Q1 24 | $-0.36 | $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 | $105.4M | $618.7M |
| 总债务越低越好 | $2.4B | $9.0B |
| 股东权益账面价值 | $1.7B | $9.7B |
| 总资产 | $4.4B | $19.6B |
| 负债/权益比越低杠杆越低 | 1.47× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资DHCRPRX
| Q4 25 | $105.4M | $618.7M | ||
| Q3 25 | $201.4M | $938.9M | ||
| Q2 25 | $141.8M | $631.9M | ||
| Q1 25 | $302.6M | $1.1B | ||
| Q4 24 | $144.6M | $929.0M | ||
| Q3 24 | $256.5M | $950.1M | ||
| Q2 24 | $265.6M | $1.8B | ||
| Q1 24 | $207.1M | $843.0M |
总债务DHCRPRX
| Q4 25 | $2.4B | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | $3.1B | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $6.1B |
股东权益DHCRPRX
| Q4 25 | $1.7B | $9.7B | ||
| Q3 25 | $1.7B | $9.6B | ||
| Q2 25 | $1.9B | $9.5B | ||
| Q1 25 | $1.9B | $9.8B | ||
| Q4 24 | $2.0B | $10.3B | ||
| Q3 24 | $2.0B | $10.3B | ||
| Q2 24 | $2.1B | $9.8B | ||
| Q1 24 | $2.2B | $9.9B |
总资产DHCRPRX
| Q4 25 | $4.4B | $19.6B | ||
| Q3 25 | $4.7B | $19.3B | ||
| Q2 25 | $4.8B | $18.3B | ||
| Q1 25 | $5.0B | $17.6B | ||
| Q4 24 | $5.1B | $18.2B | ||
| Q3 24 | $5.3B | $18.0B | ||
| Q2 24 | $5.3B | $17.7B | ||
| Q1 24 | $5.3B | $16.1B |
负债/权益比DHCRPRX
| Q4 25 | 1.47× | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | 1.56× | 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 | $-19.6M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $-166.4M | — |
| 自由现金流率自由现金流/营收 | -43.8% | — |
| 资本支出强度资本支出/营收 | 38.7% | — |
| 现金转化率经营现金流/净利润 | — | 3.86× |
| 过去12个月自由现金流最近4个季度 | $-280.3M | — |
8季度趋势，按日历期对齐
经营现金流DHCRPRX
| Q4 25 | $-19.6M | $827.1M | ||
| Q3 25 | $-49.3M | $702.6M | ||
| Q2 25 | $53.0M | $364.0M | ||
| Q1 25 | $-3.2M | $596.1M | ||
| Q4 24 | $112.2M | $742.5M | ||
| Q3 24 | $21.1M | $703.6M | ||
| Q2 24 | $44.3M | $658.2M | ||
| Q1 24 | $28.6M | $664.6M |
自由现金流DHCRPRX
| Q4 25 | $-166.4M | — | ||
| Q3 25 | $-89.8M | — | ||
| Q2 25 | $18.8M | — | ||
| Q1 25 | $-42.9M | — | ||
| Q4 24 | $-89.5M | — | ||
| Q3 24 | $-26.1M | — | ||
| Q2 24 | $3.3M | — | ||
| Q1 24 | $-18.1M | — |
自由现金流率DHCRPRX
| Q4 25 | -43.8% | — | ||
| Q3 25 | -23.1% | — | ||
| Q2 25 | 4.9% | — | ||
| Q1 25 | -11.1% | — | ||
| Q4 24 | -23.6% | — | ||
| Q3 24 | -7.0% | — | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | -4.9% | — |
资本支出强度DHCRPRX
| Q4 25 | 38.7% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 8.9% | — | ||
| Q1 25 | 10.2% | — | ||
| Q4 24 | 53.1% | — | ||
| Q3 24 | 12.6% | — | ||
| Q2 24 | 11.0% | — | ||
| Q1 24 | 12.6% | — |
现金转化率DHCRPRX
| Q4 25 | — | 3.86× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | — | 12.06× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 6.45× | ||
| Q1 24 | — | 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
DHC
| Senior Housing Operating Portfolio Segment | $323.4M | 85% |
| Rental Income | $56.2M | 15% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
