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礼蓝动物保健（ELAN）与百利高（PRGO）财务数据对比。点击上方公司名可切换其他公司
礼蓝动物保健的季度营收约是百利高的1.0倍（$1.1B vs $1.1B），礼蓝动物保健净利率更高（-24.1% vs -127.8%，领先103.7%），礼蓝动物保健同比增速更快（12.2% vs -2.5%），百利高自由现金流更多（$148.6M vs $46.0M），过去两年百利高的营收复合增速更高（1.3% vs -2.6%）
礼蓝动物保健是一家美国动物保健制药企业，专注于生产宠物及家畜用药品与疫苗。该公司原为礼来公司旗下子公司，2019年完成分拆独立，目前是全球第三大动物保健企业。
百利高（Perrigo）是一家注册于爱尔兰的非处方仿制药生产商，主打自有品牌OTC药品业务。公司70%的净销售额来自美国医疗市场，为优化税务布局将法定总部设在爱尔兰，该地区销售额仅占总营收的0.6%，2013年曾完成美国历史上第六大企业税收倒置交易。
ELAN vs PRGO — 直观对比
营收规模更大
ELAN
是对方的1.0倍
$1.1B
营收增速更快
ELAN
高出14.7%
-2.5%
净利率更高
ELAN
高出103.7%
-127.8%
自由现金流更多
PRGO
多$102.6M
$46.0M
两年增速更快
PRGO
近两年复合增速
-2.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.1B |
| 净利润 | $-276.0M | $-1.4B |
| 毛利率 | 51.5% | 32.6% |
| 营业利润率 | -22.6% | -116.0% |
| 净利率 | -24.1% | -127.8% |
| 营收同比 | 12.2% | -2.5% |
| 净利润同比 | -3350.0% | -3093.9% |
| 每股收益（稀释后） | $-0.55 | $-10.23 |
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ELANPRGO
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.1B | $1.0B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $1.0B | $1.1B | ||
| Q2 24 | $1.2B | $1.1B | ||
| Q1 24 | $1.2B | $1.1B |
净利润ELANPRGO
| Q4 25 | $-276.0M | $-1.4B | ||
| Q3 25 | $-34.0M | $7.5M | ||
| Q2 25 | $11.0M | $-8.4M | ||
| Q1 25 | $67.0M | $-6.4M | ||
| Q4 24 | $-8.0M | $-44.4M | ||
| Q3 24 | $364.0M | $-21.0M | ||
| Q2 24 | $-50.0M | $-108.4M | ||
| Q1 24 | $32.0M | $2.0M |
毛利率ELANPRGO
| Q4 25 | 51.5% | 32.6% | ||
| Q3 25 | 53.4% | 36.1% | ||
| Q2 25 | 57.5% | 34.4% | ||
| Q1 25 | 57.3% | 37.6% | ||
| Q4 24 | 50.9% | 33.9% | ||
| Q3 24 | 52.2% | 37.2% | ||
| Q2 24 | 58.2% | 37.0% | ||
| Q1 24 | 57.3% | 33.1% |
营业利润率ELANPRGO
| Q4 25 | -22.6% | -116.0% | ||
| Q3 25 | -4.4% | 7.0% | ||
| Q2 25 | 2.0% | 4.3% | ||
| Q1 25 | 5.0% | 4.5% | ||
| Q4 24 | -5.0% | 10.0% | ||
| Q3 24 | 54.3% | 7.4% | ||
| Q2 24 | -2.7% | -2.5% | ||
| Q1 24 | 1.0% | -5.1% |
净利率ELANPRGO
| Q4 25 | -24.1% | -127.8% | ||
| Q3 25 | -3.0% | 0.7% | ||
| Q2 25 | 0.9% | -0.8% | ||
| Q1 25 | 5.6% | -0.6% | ||
| Q4 24 | -0.8% | -3.9% | ||
| Q3 24 | 35.3% | -1.9% | ||
| Q2 24 | -4.2% | -10.2% | ||
| Q1 24 | 2.7% | 0.2% |
每股收益（稀释后）ELANPRGO
| Q4 25 | $-0.55 | $-10.23 | ||
| Q3 25 | $-0.07 | $0.05 | ||
| Q2 25 | $0.02 | $-0.06 | ||
| Q1 25 | $0.13 | $-0.05 | ||
| Q4 24 | $-0.01 | $-0.32 | ||
| Q3 24 | $0.73 | $-0.15 | ||
| Q2 24 | $-0.10 | $-0.79 | ||
| Q1 24 | $0.06 | $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 | $545.0M | — |
| 总债务越低越好 | $3.9B | — |
| 股东权益账面价值 | $6.5B | $2.9B |
| 总资产 | $13.4B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.60× | — |
8季度趋势，按日历期对齐
现金及短期投资ELANPRGO
| Q4 25 | $545.0M | — | ||
| Q3 25 | $505.0M | $432.1M | ||
| Q2 25 | $539.0M | $454.2M | ||
| Q1 25 | $487.0M | $409.9M | ||
| Q4 24 | $468.0M | $558.8M | ||
| Q3 24 | $490.0M | $1.5B | ||
| Q2 24 | $416.0M | $542.8M | ||
| Q1 24 | $345.0M | $658.5M |
总债务ELANPRGO
| Q4 25 | $3.9B | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.4B | — | ||
| Q2 24 | $5.7B | — | ||
| Q1 24 | $5.8B | — |
股东权益ELANPRGO
| Q4 25 | $6.5B | $2.9B | ||
| Q3 25 | $6.7B | $4.4B | ||
| Q2 25 | $6.8B | $4.5B | ||
| Q1 25 | $6.4B | $4.4B | ||
| Q4 24 | $6.1B | $4.3B | ||
| Q3 24 | $6.5B | $4.6B | ||
| Q2 24 | $5.9B | $4.5B | ||
| Q1 24 | $6.1B | $4.7B |
总资产ELANPRGO
| Q4 25 | $13.4B | $8.5B | ||
| Q3 25 | $13.6B | $10.1B | ||
| Q2 25 | $13.7B | $10.1B | ||
| Q1 25 | $12.9B | $9.8B | ||
| Q4 24 | $12.6B | $9.6B | ||
| Q3 24 | $13.3B | $11.2B | ||
| Q2 24 | $13.8B | $10.4B | ||
| Q1 24 | $14.0B | $10.6B |
负债/权益比ELANPRGO
| Q4 25 | 0.60× | — | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 0.95× | — |
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 | $108.0M | $175.4M |
| 自由现金流经营现金流 - 资本支出 | $46.0M | $148.6M |
| 自由现金流率自由现金流/营收 | 4.0% | 13.4% |
| 资本支出强度资本支出/营收 | 5.4% | 2.4% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $284.0M | $145.1M |
8季度趋势，按日历期对齐
经营现金流ELANPRGO
| Q4 25 | $108.0M | $175.4M | ||
| Q3 25 | $219.0M | $51.7M | ||
| Q2 25 | $237.0M | $75.9M | ||
| Q1 25 | $-4.0M | $-64.5M | ||
| Q4 24 | $177.0M | $312.6M | ||
| Q3 24 | $162.0M | $42.2M | ||
| Q2 24 | $200.0M | $9.5M | ||
| Q1 24 | $2.0M | $-1.4M |
自由现金流ELANPRGO
| Q4 25 | $46.0M | $148.6M | ||
| Q3 25 | $127.0M | $29.8M | ||
| Q2 25 | $180.0M | $56.7M | ||
| Q1 25 | $-69.0M | $-90.0M | ||
| Q4 24 | $130.0M | $274.9M | ||
| Q3 24 | $120.0M | $15.1M | ||
| Q2 24 | $166.0M | $-18.9M | ||
| Q1 24 | $-22.0M | $-26.5M |
自由现金流率ELANPRGO
| Q4 25 | 4.0% | 13.4% | ||
| Q3 25 | 11.2% | 2.9% | ||
| Q2 25 | 14.5% | 5.4% | ||
| Q1 25 | -5.8% | -8.6% | ||
| Q4 24 | 12.7% | 24.2% | ||
| Q3 24 | 11.7% | 1.4% | ||
| Q2 24 | 14.0% | -1.8% | ||
| Q1 24 | -1.8% | -2.4% |
资本支出强度ELANPRGO
| Q4 25 | 5.4% | 2.4% | ||
| Q3 25 | 8.1% | 2.1% | ||
| Q2 25 | 4.6% | 1.8% | ||
| Q1 25 | 5.4% | 2.4% | ||
| Q4 24 | 4.6% | 3.3% | ||
| Q3 24 | 4.1% | 2.5% | ||
| Q2 24 | 2.9% | 2.7% | ||
| Q1 24 | 2.0% | 2.3% |
现金转化率ELANPRGO
| Q4 25 | — | — | ||
| Q3 25 | — | 6.89× | ||
| Q2 25 | 21.55× | — | ||
| Q1 25 | -0.06× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.45× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.06× | -0.70× |
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
ELAN
| Pet Health | $489.0M | 43% |
| Cattle | $296.0M | 26% |
| Poultry | $237.0M | 21% |
| Swine | $107.0M | 9% |
| Contract Manufacturing | $15.0M | 1% |
PRGO
| Consumer Self Care Americas | $697.0M | 63% |
| Digestive Health | $123.9M | 11% |
| Nutrition | $108.3M | 10% |
| Healthy Lifestyle | $94.8M | 9% |
| Pain And Sleep Aids | $87.1M | 8% |
