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eHealth, Inc.（EHTH）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eHealth, Inc.的1.9倍（$622.0M vs $326.2M），Royalty Pharma plc净利率更高（34.4% vs 26.7%，领先7.7%），Royalty Pharma plc同比增速更快（4.8% vs 3.5%），过去两年eHealth, Inc.的营收复合增速更高（87.3% vs 4.6%）
eHealth, Inc.以eHealthInsurance品牌开展业务，是一家公开上市的健康保险在线交易平台，公司注册于特拉华州，总部位于加利福尼亚州圣克拉拉。该平台主要提供医疗保险相关计划，涵盖联邦医疗保险处方药计划、联邦医疗保险补充计划、优势计划等产品，同时也售卖个人健康保险产品，业务覆盖美国全部50个州及华盛顿特区。
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。
EHTH vs RPRX — 直观对比
营收规模更大
RPRX
是对方的1.9倍
$326.2M
营收增速更快
RPRX
高出1.3%
3.5%
净利率更高
RPRX
高出7.7%
26.7%
两年增速更快
EHTH
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $326.2M | $622.0M |
| 净利润 | $87.2M | $214.2M |
| 毛利率 | 55.3% | — |
| 营业利润率 | 38.7% | 62.4% |
| 净利率 | 26.7% | 34.4% |
| 营收同比 | 3.5% | 4.8% |
| 净利润同比 | -10.6% | 2.9% |
| 每股收益（稀释后） | $2.43 | $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EHTHRPRX
| Q4 25 | $326.2M | $622.0M | ||
| Q3 25 | $53.9M | $609.3M | ||
| Q2 25 | $60.8M | $578.7M | ||
| Q1 25 | $113.1M | $568.2M | ||
| Q4 24 | $315.2M | $593.6M | ||
| Q3 24 | $58.4M | $564.7M | ||
| Q2 24 | $65.9M | $537.3M | ||
| Q1 24 | $93.0M | $568.0M |
净利润EHTHRPRX
| Q4 25 | $87.2M | $214.2M | ||
| Q3 25 | $-31.7M | $288.2M | ||
| Q2 25 | $-17.4M | $30.2M | ||
| Q1 25 | $1.9M | $238.3M | ||
| Q4 24 | $97.5M | $208.2M | ||
| Q3 24 | $-42.5M | $544.0M | ||
| Q2 24 | $-28.0M | $102.0M | ||
| Q1 24 | $-17.0M | $4.8M |
毛利率EHTHRPRX
| Q4 25 | 55.3% | — | ||
| Q3 25 | -0.3% | — | ||
| Q2 25 | 31.1% | — | ||
| Q1 25 | 36.9% | — | ||
| Q4 24 | 52.0% | — | ||
| Q3 24 | -6.5% | — | ||
| Q2 24 | 28.7% | — | ||
| Q1 24 | 31.7% | — |
营业利润率EHTHRPRX
| Q4 25 | 38.7% | 62.4% | ||
| Q3 25 | -77.1% | 70.1% | ||
| Q2 25 | -37.9% | 36.3% | ||
| Q1 25 | 4.2% | 94.0% | ||
| Q4 24 | 35.7% | 60.9% | ||
| Q3 24 | -74.0% | — | ||
| Q2 24 | -42.5% | 50.2% | ||
| Q1 24 | -19.3% | -13.0% |
净利率EHTHRPRX
| Q4 25 | 26.7% | 34.4% | ||
| Q3 25 | -58.8% | 47.3% | ||
| Q2 25 | -28.6% | 5.2% | ||
| Q1 25 | 1.7% | 41.9% | ||
| Q4 24 | 30.9% | 35.1% | ||
| Q3 24 | -72.7% | 96.3% | ||
| Q2 24 | -42.5% | 19.0% | ||
| Q1 24 | -18.3% | 0.8% |
每股收益（稀释后）EHTHRPRX
| Q4 25 | $2.43 | $0.49 | ||
| Q3 25 | $-1.46 | $0.67 | ||
| Q2 25 | $-0.98 | $0.07 | ||
| Q1 25 | $-0.33 | $0.55 | ||
| Q4 24 | $2.93 | $0.46 | ||
| Q3 24 | $-1.83 | $1.21 | ||
| Q2 24 | $-1.33 | $0.23 | ||
| Q1 24 | $-0.96 | $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 | $73.7M | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $591.6M | $9.7B |
| 总资产 | $1.3B | $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EHTHRPRX
| Q4 25 | $73.7M | $618.7M | ||
| Q3 25 | $63.1M | $938.9M | ||
| Q2 25 | $65.9M | $631.9M | ||
| Q1 25 | $121.1M | $1.1B | ||
| Q4 24 | $39.2M | $929.0M | ||
| Q3 24 | $64.0M | $950.1M | ||
| Q2 24 | $126.3M | $1.8B | ||
| Q1 24 | $175.0M | $843.0M |
总债务EHTHRPRX
| 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EHTHRPRX
| Q4 25 | $591.6M | $9.7B | ||
| Q3 25 | $514.2M | $9.6B | ||
| Q2 25 | $554.9M | $9.5B | ||
| Q1 25 | $581.6M | $9.8B | ||
| Q4 24 | $588.4M | $10.3B | ||
| Q3 24 | $499.3M | $10.3B | ||
| Q2 24 | $548.9M | $9.8B | ||
| Q1 24 | $582.8M | $9.9B |
总资产EHTHRPRX
| Q4 25 | $1.3B | $19.6B | ||
| Q3 25 | $1.0B | $19.3B | ||
| Q2 25 | $1.1B | $18.3B | ||
| Q1 25 | $1.1B | $17.6B | ||
| Q4 24 | $1.2B | $18.2B | ||
| Q3 24 | $1.0B | $18.0B | ||
| Q2 24 | $1.0B | $17.7B | ||
| Q1 24 | $1.1B | $16.1B |
负债/权益比EHTHRPRX
| 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 | $-35.9M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $-36.1M | — |
| 自由现金流率自由现金流/营收 | -11.1% | — |
| 资本支出强度资本支出/营收 | 0.0% | — |
| 现金转化率经营现金流/净利润 | -0.41× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $-27.6M | — |
8季度趋势，按日历期对齐
经营现金流EHTHRPRX
| Q4 25 | $-35.9M | $827.1M | ||
| Q3 25 | $-25.3M | $702.6M | ||
| Q2 25 | $-41.2M | $364.0M | ||
| Q1 25 | $77.1M | $596.1M | ||
| Q4 24 | $-27.7M | $742.5M | ||
| Q3 24 | $-29.3M | $703.6M | ||
| Q2 24 | $-32.2M | $658.2M | ||
| Q1 24 | $70.8M | $664.6M |
自由现金流EHTHRPRX
| Q4 25 | $-36.1M | — | ||
| Q3 25 | $-25.5M | — | ||
| Q2 25 | $-42.8M | — | ||
| Q1 25 | $76.8M | — | ||
| Q4 24 | $-28.3M | — | ||
| Q3 24 | $-30.3M | — | ||
| Q2 24 | $-32.4M | — | ||
| Q1 24 | $70.6M | — |
自由现金流率EHTHRPRX
| Q4 25 | -11.1% | — | ||
| Q3 25 | -47.4% | — | ||
| Q2 25 | -70.4% | — | ||
| Q1 25 | 67.9% | — | ||
| Q4 24 | -9.0% | — | ||
| Q3 24 | -51.8% | — | ||
| Q2 24 | -49.3% | — | ||
| Q1 24 | 75.9% | — |
资本支出强度EHTHRPRX
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | 0.2% | — |
现金转化率EHTHRPRX
| Q4 25 | -0.41× | 3.86× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | — | 12.06× | ||
| Q1 25 | 39.55× | 2.50× | ||
| Q4 24 | -0.28× | 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
EHTH
| Medicare | $282.7M | 87% |
| Other | $29.2M | 9% |
| Ancillaries | $7.9M | 2% |
| Commission Members Approved In Prior Periods | $3.8M | 1% |
| Small Business | $3.1M | 1% |
| Commission Revenue From Renewals | $2.4M | 1% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
