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杜比实验室（DLB）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的季度营收约是杜比实验室的1.6倍（$622.0M vs $395.6M），Royalty Pharma plc净利率更高（34.4% vs 24.0%，领先10.4%），杜比实验室同比增速更快（7.1% vs 4.8%），过去两年杜比实验室的营收复合增速更高（13.9% vs 4.6%）
杜比实验室是一家美国科技企业，专注于音频降噪、音频编码压缩、空间音频及高动态范围（HDR）影像等技术的研发，旗下技术广泛授权给全球各地的消费电子制造商使用，助力终端产品为用户带来更出色的视听体验。
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。
DLB vs RPRX — 直观对比
营收规模更大
RPRX
是对方的1.6倍
$395.6M
营收增速更快
DLB
高出2.3%
4.8%
净利率更高
RPRX
高出10.4%
24.0%
两年增速更快
DLB
近两年复合增速
4.6%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $395.6M | $622.0M |
| 净利润 | $94.9M | $214.2M |
| 毛利率 | 88.7% | — |
| 营业利润率 | 28.5% | 62.4% |
| 净利率 | 24.0% | 34.4% |
| 营收同比 | 7.1% | 4.8% |
| 净利润同比 | 3.4% | 2.9% |
| 每股收益（稀释后） | $0.99 | $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DLBRPRX
| Q2 26 | $395.6M | — | ||
| Q1 26 | $346.7M | — | ||
| Q4 25 | $346.7M | $622.0M | ||
| Q3 25 | $307.0M | $609.3M | ||
| Q2 25 | $315.5M | $578.7M | ||
| Q1 25 | $369.6M | $568.2M | ||
| Q4 24 | $357.0M | $593.6M | ||
| Q3 24 | $304.8M | $564.7M |
净利润DLBRPRX
| Q2 26 | $94.9M | — | ||
| Q1 26 | $53.3M | — | ||
| Q4 25 | $53.3M | $214.2M | ||
| Q3 25 | $49.3M | $288.2M | ||
| Q2 25 | $46.1M | $30.2M | ||
| Q1 25 | $91.8M | $238.3M | ||
| Q4 24 | $67.8M | $208.2M | ||
| Q3 24 | $58.6M | $544.0M |
毛利率DLBRPRX
| Q2 26 | 88.7% | — | ||
| Q1 26 | 87.5% | — | ||
| Q4 25 | 87.5% | — | ||
| Q3 25 | 87.1% | — | ||
| Q2 25 | 86.1% | — | ||
| Q1 25 | 90.3% | — | ||
| Q4 24 | 88.6% | — | ||
| Q3 24 | 88.8% | — |
营业利润率DLBRPRX
| Q2 26 | 28.5% | — | ||
| Q1 26 | 17.9% | — | ||
| Q4 25 | 17.9% | 62.4% | ||
| Q3 25 | 9.7% | 70.1% | ||
| Q2 25 | 15.1% | 36.3% | ||
| Q1 25 | 29.2% | 94.0% | ||
| Q4 24 | 22.4% | 60.9% | ||
| Q3 24 | 15.2% | — |
净利率DLBRPRX
| Q2 26 | 24.0% | — | ||
| Q1 26 | 15.4% | — | ||
| Q4 25 | 15.4% | 34.4% | ||
| Q3 25 | 16.1% | 47.3% | ||
| Q2 25 | 14.6% | 5.2% | ||
| Q1 25 | 24.8% | 41.9% | ||
| Q4 24 | 19.0% | 35.1% | ||
| Q3 24 | 19.2% | 96.3% |
每股收益（稀释后）DLBRPRX
| Q2 26 | $0.99 | — | ||
| Q1 26 | $0.55 | — | ||
| Q4 25 | $0.55 | $0.49 | ||
| Q3 25 | $0.50 | $0.67 | ||
| Q2 25 | $0.48 | $0.07 | ||
| Q1 25 | $0.94 | $0.55 | ||
| Q4 24 | $0.70 | $0.46 | ||
| Q3 24 | $0.59 | $1.21 |
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 | $594.7M | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $2.6B | $9.7B |
| 总资产 | $3.2B | $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DLBRPRX
| Q2 26 | $594.7M | — | ||
| Q1 26 | $644.6M | — | ||
| Q4 25 | $644.6M | $618.7M | ||
| Q3 25 | $702.6M | $938.9M | ||
| Q2 25 | $699.3M | $631.9M | ||
| Q1 25 | $626.6M | $1.1B | ||
| Q4 24 | $520.8M | $929.0M | ||
| Q3 24 | $482.0M | $950.1M |
总债务DLBRPRX
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B |
股东权益DLBRPRX
| Q2 26 | $2.6B | — | ||
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.6B | $9.7B | ||
| Q3 25 | $2.6B | $9.6B | ||
| Q2 25 | $2.6B | $9.5B | ||
| Q1 25 | $2.6B | $9.8B | ||
| Q4 24 | $2.5B | $10.3B | ||
| Q3 24 | $2.5B | $10.3B |
总资产DLBRPRX
| Q2 26 | $3.2B | — | ||
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $19.6B | ||
| Q3 25 | $3.2B | $19.3B | ||
| Q2 25 | $3.2B | $18.3B | ||
| Q1 25 | $3.2B | $17.6B | ||
| Q4 24 | $3.2B | $18.2B | ||
| Q3 24 | $3.1B | $18.0B |
负债/权益比DLBRPRX
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× |
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 | $147.3M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.55× | 3.86× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流DLBRPRX
| Q2 26 | $147.3M | — | ||
| Q1 26 | $54.8M | — | ||
| Q4 25 | $54.8M | $827.1M | ||
| Q3 25 | $472.2M | $702.6M | ||
| Q2 25 | $67.7M | $364.0M | ||
| Q1 25 | $174.9M | $596.1M | ||
| Q4 24 | $106.8M | $742.5M | ||
| Q3 24 | $327.3M | $703.6M |
自由现金流DLBRPRX
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $50.2M | — | ||
| Q3 25 | $435.9M | — | ||
| Q2 25 | $61.3M | — | ||
| Q1 25 | $168.0M | — | ||
| Q4 24 | $100.0M | — | ||
| Q3 24 | $297.2M | — |
自由现金流率DLBRPRX
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 14.5% | — | ||
| Q3 25 | 142.0% | — | ||
| Q2 25 | 19.4% | — | ||
| Q1 25 | 45.5% | — | ||
| Q4 24 | 28.0% | — | ||
| Q3 24 | 97.5% | — |
资本支出强度DLBRPRX
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | — | ||
| Q3 25 | 11.8% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 9.8% | — |
现金转化率DLBRPRX
| Q2 26 | 1.55× | — | ||
| Q1 26 | 1.03× | — | ||
| Q4 25 | 1.03× | 3.86× | ||
| Q3 25 | 9.57× | 2.44× | ||
| Q2 25 | 1.47× | 12.06× | ||
| Q1 25 | 1.91× | 2.50× | ||
| Q4 24 | 1.57× | 3.57× | ||
| Q3 24 | 5.59× | 1.29× |
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
DLB
| Licensing | $372.2M | 94% |
| Products and services | $23.4M | 6% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
