vs
和黄医药（HCM）与Bristow Group Inc.（VTOL）财务数据对比。点击上方公司名可切换其他公司
Bristow Group Inc.的季度营收约是和黄医药的1.4倍（$377.3M vs $270.8M），Bristow Group Inc.净利率更高（4.9% vs 0.7%，领先4.2%），Bristow Group Inc.同比增速更快（6.7% vs -16.5%），Bristow Group Inc.自由现金流更多（$47.8M vs $3.4M）
和黄医药是一家国际化生物制药企业，专注于肿瘤、免疫类疾病的靶向疗法与免疫疗法的研发、生产及商业化，核心市场覆盖中国及全球多个国家地区，已有多款肿瘤治疗药物上市，后期临床管线储备丰富。
布里斯托集团旗下的布里斯托直升机有限公司是英国民用直升机运营企业，最初扎根于苏格兰阿伯丁机场，目前集团总部设在美国得克萨斯州休斯顿。2020年，布里斯托集团与美国大型商用直升机运营企业Era直升机完成合并，合并后企业沿用布里斯托品牌名称运营。
HCM vs VTOL — 直观对比
营收规模更大
VTOL
是对方的1.4倍
$270.8M
营收增速更快
VTOL
高出23.3%
-16.5%
净利率更高
VTOL
高出4.2%
0.7%
自由现金流更多
VTOL
多$44.4M
$3.4M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $270.8M | $377.3M |
| 净利润 | $2.0M | $18.4M |
| 毛利率 | 37.7% | — |
| 营业利润率 | -13.2% | 8.5% |
| 净利率 | 0.7% | 4.9% |
| 营收同比 | -16.5% | 6.7% |
| 净利润同比 | -83.6% | -42.1% |
| 每股收益（稀释后） | $0.00 | $0.61 |
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HCMVTOL
| Q4 25 | $270.8M | $377.3M | ||
| Q3 25 | — | $386.3M | ||
| Q2 25 | $277.7M | $376.4M | ||
| Q1 25 | $324.5M | $350.5M | ||
| Q4 24 | — | $353.5M | ||
| Q3 24 | — | $365.1M | ||
| Q2 24 | $305.7M | $359.7M | ||
| Q1 24 | — | $337.1M |
净利润HCMVTOL
| Q4 25 | $2.0M | $18.4M | ||
| Q3 25 | — | $51.5M | ||
| Q2 25 | $455.0M | $31.7M | ||
| Q1 25 | $11.9M | $27.4M | ||
| Q4 24 | — | $31.8M | ||
| Q3 24 | — | $28.2M | ||
| Q2 24 | $25.8M | $28.2M | ||
| Q1 24 | — | $6.6M |
毛利率HCMVTOL
| Q4 25 | 37.7% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 48.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 41.1% | — | ||
| Q1 24 | — | — |
营业利润率HCMVTOL
| Q4 25 | -13.2% | 8.5% | ||
| Q3 25 | — | 13.1% | ||
| Q2 25 | -1.3% | 11.3% | ||
| Q1 25 | -5.0% | 9.6% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | — | 9.1% | ||
| Q2 24 | -9.0% | 12.4% | ||
| Q1 24 | — | 6.8% |
净利率HCMVTOL
| Q4 25 | 0.7% | 4.9% | ||
| Q3 25 | — | 13.3% | ||
| Q2 25 | 163.8% | 8.4% | ||
| Q1 25 | 3.7% | 7.8% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | — | 7.7% | ||
| Q2 24 | 8.4% | 7.8% | ||
| Q1 24 | — | 2.0% |
每股收益（稀释后）HCMVTOL
| Q4 25 | $0.00 | $0.61 | ||
| Q3 25 | — | $1.72 | ||
| Q2 25 | $0.52 | $1.07 | ||
| Q1 25 | $0.01 | $0.92 | ||
| Q4 24 | — | $1.07 | ||
| Q3 24 | — | $0.95 | ||
| Q2 24 | $0.03 | $0.96 | ||
| Q1 24 | — | $0.23 |
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 | $1.4B | $286.2M |
| 总债务越低越好 | $93.2M | $671.5M |
| 股东权益账面价值 | $1.2B | $1.1B |
| 总资产 | $1.8B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.08× | 0.63× |
8季度趋势，按日历期对齐
现金及短期投资HCMVTOL
| Q4 25 | $1.4B | $286.2M | ||
| Q3 25 | — | $245.5M | ||
| Q2 25 | $1.4B | $251.8M | ||
| Q1 25 | $836.1M | $191.1M | ||
| Q4 24 | — | $247.5M | ||
| Q3 24 | — | $200.3M | ||
| Q2 24 | $802.5M | $178.6M | ||
| Q1 24 | — | $140.6M |
总债务HCMVTOL
| Q4 25 | $93.2M | $671.5M | ||
| Q3 25 | — | $675.0M | ||
| Q2 25 | $93.4M | $705.2M | ||
| Q1 25 | $82.8M | $701.9M | ||
| Q4 24 | — | $689.8M | ||
| Q3 24 | — | $629.1M | ||
| Q2 24 | $82.1M | $594.2M | ||
| Q1 24 | — | $544.1M |
股东权益HCMVTOL
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | $1.2B | $984.4M | ||
| Q1 25 | $759.9M | $931.7M | ||
| Q4 24 | — | $891.7M | ||
| Q3 24 | — | $899.2M | ||
| Q2 24 | $740.1M | $849.1M | ||
| Q1 24 | — | $820.7M |
总资产HCMVTOL
| Q4 25 | $1.8B | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | $1.8B | $2.3B | ||
| Q1 25 | $1.3B | $2.2B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | $1.3B | $2.0B | ||
| Q1 24 | — | $1.9B |
负债/权益比HCMVTOL
| Q4 25 | 0.08× | 0.63× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | 0.08× | 0.72× | ||
| Q1 25 | 0.11× | 0.75× | ||
| Q4 24 | — | 0.77× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | 0.11× | 0.70× | ||
| Q1 24 | — | 0.66× |
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 | $8.2M | $76.9M |
| 自由现金流经营现金流 - 资本支出 | $3.4M | $47.8M |
| 自由现金流率自由现金流/营收 | 1.2% | 12.7% |
| 资本支出强度资本支出/营收 | 1.8% | 7.7% |
| 现金转化率经营现金流/净利润 | 4.21× | 4.17× |
| 过去12个月自由现金流最近4个季度 | $-96.2M | $56.4M |
8季度趋势，按日历期对齐
经营现金流HCMVTOL
| Q4 25 | $8.2M | $76.9M | ||
| Q3 25 | — | $23.1M | ||
| Q2 25 | $-72.9M | $99.0M | ||
| Q1 25 | $40.3M | $-603.0K | ||
| Q4 24 | — | $51.1M | ||
| Q3 24 | — | $66.0M | ||
| Q2 24 | $-39.8M | $33.7M | ||
| Q1 24 | — | $26.7M |
自由现金流HCMVTOL
| Q4 25 | $3.4M | $47.8M | ||
| Q3 25 | — | $-6.2M | ||
| Q2 25 | $-82.2M | $67.4M | ||
| Q1 25 | $32.5M | $-52.7M | ||
| Q4 24 | — | $-32.4M | ||
| Q3 24 | — | $9.0M | ||
| Q2 24 | $-49.9M | $-16.7M | ||
| Q1 24 | — | $-37.9M |
自由现金流率HCMVTOL
| Q4 25 | 1.2% | 12.7% | ||
| Q3 25 | — | -1.6% | ||
| Q2 25 | -29.6% | 17.9% | ||
| Q1 25 | 10.0% | -15.0% | ||
| Q4 24 | — | -9.2% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | -16.3% | -4.6% | ||
| Q1 24 | — | -11.2% |
资本支出强度HCMVTOL
| Q4 25 | 1.8% | 7.7% | ||
| Q3 25 | — | 7.6% | ||
| Q2 25 | 3.3% | 8.4% | ||
| Q1 25 | 2.4% | 14.9% | ||
| Q4 24 | — | 23.6% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | 3.3% | 14.0% | ||
| Q1 24 | — | 19.2% |
现金转化率HCMVTOL
| Q4 25 | 4.21× | 4.17× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | -0.16× | 3.12× | ||
| Q1 25 | 3.38× | -0.02× | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | — | 2.34× | ||
| Q2 24 | -1.54× | 1.20× | ||
| Q1 24 | — | 4.04× |
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
HCM
暂无分部数据
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
