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礼蓝动物保健（ELAN）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是礼蓝动物保健的1.1倍（$1.2B vs $1.1B），利氏兄弟拍卖行净利率更高（9.1% vs -24.1%，领先33.2%），礼蓝动物保健同比增速更快（12.2% vs 5.4%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $46.0M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% 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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
ELAN vs RBA — 直观对比
营收规模更大
RBA
是对方的1.1倍
$1.1B
营收增速更快
ELAN
高出6.7%
5.4%
净利率更高
RBA
高出33.2%
-24.1%
自由现金流更多
RBA
多$140.5M
$46.0M
两年增速更快
RBA
近两年复合增速
-2.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $-276.0M | $109.7M |
| 毛利率 | 51.5% | — |
| 营业利润率 | -22.6% | 14.7% |
| 净利率 | -24.1% | 9.1% |
| 营收同比 | 12.2% | 5.4% |
| 净利润同比 | -3350.0% | -7.4% |
| 每股收益（稀释后） | $-0.55 | $0.53 |
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ELANRBA
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $1.0B | $981.8M | ||
| Q2 24 | $1.2B | $1.1B | ||
| Q1 24 | $1.2B | $1.1B |
净利润ELANRBA
| Q4 25 | $-276.0M | $109.7M | ||
| Q3 25 | $-34.0M | $95.5M | ||
| Q2 25 | $11.0M | $109.8M | ||
| Q1 25 | $67.0M | $113.4M | ||
| Q4 24 | $-8.0M | $118.5M | ||
| Q3 24 | $364.0M | $76.1M | ||
| Q2 24 | $-50.0M | $111.1M | ||
| Q1 24 | $32.0M | $107.4M |
毛利率ELANRBA
| Q4 25 | 51.5% | — | ||
| Q3 25 | 53.4% | — | ||
| Q2 25 | 57.5% | — | ||
| Q1 25 | 57.3% | — | ||
| Q4 24 | 50.9% | — | ||
| Q3 24 | 52.2% | — | ||
| Q2 24 | 58.2% | — | ||
| Q1 24 | 57.3% | — |
营业利润率ELANRBA
| Q4 25 | -22.6% | 14.7% | ||
| Q3 25 | -4.4% | 14.5% | ||
| Q2 25 | 2.0% | 15.9% | ||
| Q1 25 | 5.0% | 17.1% | ||
| Q4 24 | -5.0% | 18.1% | ||
| Q3 24 | 54.3% | 15.6% | ||
| Q2 24 | -2.7% | 18.4% | ||
| Q1 24 | 1.0% | 18.7% |
净利率ELANRBA
| Q4 25 | -24.1% | 9.1% | ||
| Q3 25 | -3.0% | 8.7% | ||
| Q2 25 | 0.9% | 9.3% | ||
| Q1 25 | 5.6% | 10.2% | ||
| Q4 24 | -0.8% | 10.4% | ||
| Q3 24 | 35.3% | 7.8% | ||
| Q2 24 | -4.2% | 10.1% | ||
| Q1 24 | 2.7% | 10.1% |
每股收益（稀释后）ELANRBA
| Q4 25 | $-0.55 | $0.53 | ||
| Q3 25 | $-0.07 | $0.43 | ||
| Q2 25 | $0.02 | $0.53 | ||
| Q1 25 | $0.13 | $0.55 | ||
| Q4 24 | $-0.01 | $0.58 | ||
| Q3 24 | $0.73 | $0.36 | ||
| Q2 24 | $-0.10 | $0.54 | ||
| Q1 24 | $0.06 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | $3.9B | $2.3B |
| 股东权益账面价值 | $6.5B | $5.6B |
| 总资产 | $13.4B | $12.1B |
| 负债/权益比越低杠杆越低 | 0.60× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资ELANRBA
| Q4 25 | $545.0M | $531.5M | ||
| Q3 25 | $505.0M | $674.7M | ||
| Q2 25 | $539.0M | $710.2M | ||
| Q1 25 | $487.0M | $578.1M | ||
| Q4 24 | $468.0M | $533.9M | ||
| Q3 24 | $490.0M | $650.7M | ||
| Q2 24 | $416.0M | $599.5M | ||
| Q1 24 | $345.0M | $462.8M |
总债务ELANRBA
| Q4 25 | $3.9B | $2.3B | ||
| Q3 25 | $4.0B | $2.6B | ||
| Q2 25 | $4.1B | $2.6B | ||
| Q1 25 | $4.4B | $2.6B | ||
| Q4 24 | $4.3B | $2.6B | ||
| Q3 24 | $4.4B | $2.7B | ||
| Q2 24 | $5.7B | $2.8B | ||
| Q1 24 | $5.8B | $2.9B |
股东权益ELANRBA
| Q4 25 | $6.5B | $5.6B | ||
| Q3 25 | $6.7B | $5.5B | ||
| Q2 25 | $6.8B | $5.5B | ||
| Q1 25 | $6.4B | $5.3B | ||
| Q4 24 | $6.1B | $5.2B | ||
| Q3 24 | $6.5B | $5.2B | ||
| Q2 24 | $5.9B | $5.2B | ||
| Q1 24 | $6.1B | $5.1B |
总资产ELANRBA
| Q4 25 | $13.4B | $12.1B | ||
| Q3 25 | $13.6B | $12.2B | ||
| Q2 25 | $13.7B | $12.2B | ||
| Q1 25 | $12.9B | $11.9B | ||
| Q4 24 | $12.6B | $11.8B | ||
| Q3 24 | $13.3B | $11.9B | ||
| Q2 24 | $13.8B | $12.1B | ||
| Q1 24 | $14.0B | $12.0B |
负债/权益比ELANRBA
| Q4 25 | 0.60× | 0.42× | ||
| Q3 25 | 0.59× | 0.47× | ||
| Q2 25 | 0.61× | 0.47× | ||
| Q1 25 | 0.69× | 0.50× | ||
| Q4 24 | 0.70× | 0.50× | ||
| Q3 24 | 0.67× | 0.52× | ||
| Q2 24 | 0.96× | 0.55× | ||
| Q1 24 | 0.95× | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $46.0M | $186.5M |
| 自由现金流率自由现金流/营收 | 4.0% | 15.5% |
| 资本支出强度资本支出/营收 | 5.4% | 5.7% |
| 现金转化率经营现金流/净利润 | — | 2.33× |
| 过去12个月自由现金流最近4个季度 | $284.0M | $719.2M |
8季度趋势，按日历期对齐
经营现金流ELANRBA
| Q4 25 | $108.0M | $255.2M | ||
| Q3 25 | $219.0M | $239.7M | ||
| Q2 25 | $237.0M | $326.5M | ||
| Q1 25 | $-4.0M | $156.8M | ||
| Q4 24 | $177.0M | $184.5M | ||
| Q3 24 | $162.0M | $285.4M | ||
| Q2 24 | $200.0M | $337.3M | ||
| Q1 24 | $2.0M | $124.8M |
自由现金流ELANRBA
| Q4 25 | $46.0M | $186.5M | ||
| Q3 25 | $127.0M | $188.5M | ||
| Q2 25 | $180.0M | $241.7M | ||
| Q1 25 | $-69.0M | $102.5M | ||
| Q4 24 | $130.0M | $127.9M | ||
| Q3 24 | $120.0M | $248.5M | ||
| Q2 24 | $166.0M | $308.6M | ||
| Q1 24 | $-22.0M | $79.6M |
自由现金流率ELANRBA
| Q4 25 | 4.0% | 15.5% | ||
| Q3 25 | 11.2% | 17.3% | ||
| Q2 25 | 14.5% | 20.4% | ||
| Q1 25 | -5.8% | 9.2% | ||
| Q4 24 | 12.7% | 11.2% | ||
| Q3 24 | 11.7% | 25.3% | ||
| Q2 24 | 14.0% | 28.2% | ||
| Q1 24 | -1.8% | 7.5% |
资本支出强度ELANRBA
| Q4 25 | 5.4% | 5.7% | ||
| Q3 25 | 8.1% | 4.7% | ||
| Q2 25 | 4.6% | 7.2% | ||
| Q1 25 | 5.4% | 4.9% | ||
| Q4 24 | 4.6% | 5.0% | ||
| Q3 24 | 4.1% | 3.8% | ||
| Q2 24 | 2.9% | 2.6% | ||
| Q1 24 | 2.0% | 4.2% |
现金转化率ELANRBA
| Q4 25 | — | 2.33× | ||
| Q3 25 | — | 2.51× | ||
| Q2 25 | 21.55× | 2.97× | ||
| Q1 25 | -0.06× | 1.38× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | 0.45× | 3.75× | ||
| Q2 24 | — | 3.04× | ||
| Q1 24 | 0.06× | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
