vs
FULLER H B CO（FUL）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
FULLER H B CO的季度营收约是Royalty Pharma plc的1.4倍（$892.0M vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 7.5%，领先26.9%），Royalty Pharma plc同比增速更快（4.8% vs -2.8%），过去两年FULLER H B CO的营收复合增速更高（5.0% vs 4.6%）
H.B.富勒公司是总部位于美国明尼苏达州圣保罗的跨国粘合剂制造企业，全球第四大粘合剂及密封剂生产商。公司拥有超过20000种产品，广泛应用于建筑、工程、电子、卫生用品、食品包装等领域，在26个国家设有81座生产基地，2024年员工规模约7500人。
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。
FUL vs RPRX — 直观对比
营收规模更大
FUL
是对方的1.4倍
$622.0M
营收增速更快
RPRX
高出7.6%
-2.8%
净利率更高
RPRX
高出26.9%
7.5%
两年增速更快
FUL
近两年复合增速
4.6%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $892.0M | $622.0M |
| 净利润 | $67.2M | $214.2M |
| 毛利率 | 32.0% | — |
| 营业利润率 | 12.3% | 62.4% |
| 净利率 | 7.5% | 34.4% |
| 营收同比 | -2.8% | 4.8% |
| 净利润同比 | 21.3% | 2.9% |
| 每股收益（稀释后） | $1.22 | $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FULRPRX
| Q4 25 | — | $622.0M | ||
| Q3 25 | $892.0M | $609.3M | ||
| Q2 25 | $898.1M | $578.7M | ||
| Q1 25 | — | $568.2M | ||
| Q4 24 | — | $593.6M | ||
| Q3 24 | $917.9M | $564.7M | ||
| Q2 24 | — | $537.3M | ||
| Q1 24 | $810.4M | $568.0M |
净利润FULRPRX
| Q4 25 | — | $214.2M | ||
| Q3 25 | $67.2M | $288.2M | ||
| Q2 25 | $41.8M | $30.2M | ||
| Q1 25 | — | $238.3M | ||
| Q4 24 | — | $208.2M | ||
| Q3 24 | $55.4M | $544.0M | ||
| Q2 24 | — | $102.0M | ||
| Q1 24 | $31.0M | $4.8M |
毛利率FULRPRX
| Q4 25 | — | — | ||
| Q3 25 | 32.0% | — | ||
| Q2 25 | 31.9% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 30.0% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 29.5% | — |
营业利润率FULRPRX
| Q4 25 | — | 62.4% | ||
| Q3 25 | 12.3% | 70.1% | ||
| Q2 25 | 11.1% | 36.3% | ||
| Q1 25 | — | 94.0% | ||
| Q4 24 | — | 60.9% | ||
| Q3 24 | 11.4% | — | ||
| Q2 24 | — | 50.2% | ||
| Q1 24 | 8.3% | -13.0% |
净利率FULRPRX
| Q4 25 | — | 34.4% | ||
| Q3 25 | 7.5% | 47.3% | ||
| Q2 25 | 4.7% | 5.2% | ||
| Q1 25 | — | 41.9% | ||
| Q4 24 | — | 35.1% | ||
| Q3 24 | 6.0% | 96.3% | ||
| Q2 24 | — | 19.0% | ||
| Q1 24 | 3.8% | 0.8% |
每股收益（稀释后）FULRPRX
| Q4 25 | — | $0.49 | ||
| Q3 25 | $1.22 | $0.67 | ||
| Q2 25 | $0.76 | $0.07 | ||
| Q1 25 | — | $0.55 | ||
| Q4 24 | — | $0.46 | ||
| Q3 24 | $0.98 | $1.21 | ||
| Q2 24 | — | $0.23 | ||
| Q1 24 | $0.55 | $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 | $122.5M | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $2.0B | $9.7B |
| 总资产 | $5.2B | $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FULRPRX
| Q4 25 | — | $618.7M | ||
| Q3 25 | $122.5M | $938.9M | ||
| Q2 25 | $96.8M | $631.9M | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $929.0M | ||
| Q3 24 | $131.4M | $950.1M | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | $165.2M | $843.0M |
总债务FULRPRX
| 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FULRPRX
| Q4 25 | — | $9.7B | ||
| Q3 25 | $2.0B | $9.6B | ||
| Q2 25 | $1.9B | $9.5B | ||
| Q1 25 | — | $9.8B | ||
| Q4 24 | — | $10.3B | ||
| Q3 24 | $1.8B | $10.3B | ||
| Q2 24 | — | $9.8B | ||
| Q1 24 | $1.8B | $9.9B |
总资产FULRPRX
| Q4 25 | — | $19.6B | ||
| Q3 25 | $5.2B | $19.3B | ||
| Q2 25 | $5.1B | $18.3B | ||
| Q1 25 | — | $17.6B | ||
| Q4 24 | — | $18.2B | ||
| Q3 24 | $5.0B | $18.0B | ||
| Q2 24 | — | $17.7B | ||
| Q1 24 | $4.7B | $16.1B |
负债/权益比FULRPRX
| 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 | $99.0M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $68.9M | — |
| 自由现金流率自由现金流/营收 | 7.7% | — |
| 资本支出强度资本支出/营收 | 3.4% | — |
| 现金转化率经营现金流/净利润 | 1.47× | 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FULRPRX
| Q4 25 | — | $827.1M | ||
| Q3 25 | $99.0M | $702.6M | ||
| Q2 25 | — | $364.0M | ||
| Q1 25 | — | $596.1M | ||
| Q4 24 | — | $742.5M | ||
| Q3 24 | $169.4M | $703.6M | ||
| Q2 24 | — | $658.2M | ||
| Q1 24 | $47.4M | $664.6M |
自由现金流FULRPRX
| Q4 25 | — | — | ||
| Q3 25 | $68.9M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $99.9M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $4.1M | — |
自由现金流率FULRPRX
| Q4 25 | — | — | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 10.9% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.5% | — |
资本支出强度FULRPRX
| Q4 25 | — | — | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 7.6% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 5.3% | — |
现金转化率FULRPRX
| Q4 25 | — | 3.86× | ||
| Q3 25 | 1.47× | 2.44× | ||
| Q2 25 | — | 12.06× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | 3.06× | 1.29× | ||
| Q2 24 | — | 6.45× | ||
| Q1 24 | 1.53× | 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
FUL
| Hygiene Health And Consumable Adhesives | $386.1M | 43% |
| Engineering Adhesives | $272.3M | 31% |
| Building Adhesives Solutions | $233.7M | 26% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
