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伯克希尔·哈撒韦（HEI）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
伯克希尔·哈撒韦的季度营收约是Royalty Pharma plc的1.9倍（$1.2B vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 15.6%，领先18.9%），伯克希尔·哈撒韦同比增速更快（19.3% vs 4.8%），过去两年伯克希尔·哈撒韦的营收复合增速更高（16.2% vs 4.6%）
伯克希尔·哈撒韦是总部位于美国内布拉斯加州奥马哈的跨国综合控股集团，最初主营纺织品制造，1965年起在董事长兼首席执行官沃伦·巴菲特、副董事长查理·芒格的带领下转型为多元化企业集团，2026年初格雷格·阿贝尔接任首席执行官，巴菲特个人持有公司38.4%的A类有投票权股份，对应15.1%的整体经济权益。
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。
HEI vs RPRX — 直观对比
营收规模更大
HEI
是对方的1.9倍
$622.0M
营收增速更快
HEI
高出14.5%
4.8%
净利率更高
RPRX
高出18.9%
15.6%
两年增速更快
HEI
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $622.0M |
| 净利润 | $188.3M | $214.2M |
| 毛利率 | 40.2% | — |
| 营业利润率 | 23.1% | 62.4% |
| 净利率 | 15.6% | 34.4% |
| 营收同比 | 19.3% | 4.8% |
| 净利润同比 | 34.8% | 2.9% |
| 每股收益（稀释后） | $1.32 | $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HEIRPRX
| Q4 25 | $1.2B | $622.0M | ||
| Q3 25 | $1.1B | $609.3M | ||
| Q2 25 | $1.1B | $578.7M | ||
| Q1 25 | $1.0B | $568.2M | ||
| Q4 24 | $1.0B | $593.6M | ||
| Q3 24 | $992.2M | $564.7M | ||
| Q2 24 | $955.4M | $537.3M | ||
| Q1 24 | $896.4M | $568.0M |
净利润HEIRPRX
| Q4 25 | $188.3M | $214.2M | ||
| Q3 25 | $177.3M | $288.2M | ||
| Q2 25 | $156.8M | $30.2M | ||
| Q1 25 | $168.0M | $238.3M | ||
| Q4 24 | $139.7M | $208.2M | ||
| Q3 24 | $136.6M | $544.0M | ||
| Q2 24 | $123.1M | $102.0M | ||
| Q1 24 | $114.7M | $4.8M |
毛利率HEIRPRX
| Q4 25 | 40.2% | — | ||
| Q3 25 | 39.8% | — | ||
| Q2 25 | 39.9% | — | ||
| Q1 25 | 39.4% | — | ||
| Q4 24 | 38.9% | — | ||
| Q3 24 | 39.2% | — | ||
| Q2 24 | 38.9% | — | ||
| Q1 24 | 38.7% | — |
营业利润率HEIRPRX
| Q4 25 | 23.1% | 62.4% | ||
| Q3 25 | 23.1% | 70.1% | ||
| Q2 25 | 22.6% | 36.3% | ||
| Q1 25 | 22.0% | 94.0% | ||
| Q4 24 | 21.6% | 60.9% | ||
| Q3 24 | 21.8% | — | ||
| Q2 24 | 21.9% | 50.2% | ||
| Q1 24 | 20.1% | -13.0% |
净利率HEIRPRX
| Q4 25 | 15.6% | 34.4% | ||
| Q3 25 | 15.5% | 47.3% | ||
| Q2 25 | 14.3% | 5.2% | ||
| Q1 25 | 16.3% | 41.9% | ||
| Q4 24 | 13.8% | 35.1% | ||
| Q3 24 | 13.8% | 96.3% | ||
| Q2 24 | 12.9% | 19.0% | ||
| Q1 24 | 12.8% | 0.8% |
每股收益（稀释后）HEIRPRX
| Q4 25 | $1.32 | $0.49 | ||
| Q3 25 | $1.26 | $0.67 | ||
| Q2 25 | $1.12 | $0.07 | ||
| Q1 25 | $1.20 | $0.55 | ||
| Q4 24 | $1.00 | $0.46 | ||
| Q3 24 | $0.97 | $1.21 | ||
| Q2 24 | $0.88 | $0.23 | ||
| Q1 24 | $0.82 | $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 | $217.8M | $618.7M |
| 总债务越低越好 | $2.2B | $9.0B |
| 股东权益账面价值 | $4.3B | $9.7B |
| 总资产 | $8.5B | $19.6B |
| 负债/权益比越低杠杆越低 | 0.50× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资HEIRPRX
| Q4 25 | $217.8M | $618.7M | ||
| Q3 25 | $261.9M | $938.9M | ||
| Q2 25 | $242.3M | $631.9M | ||
| Q1 25 | $165.5M | $1.1B | ||
| Q4 24 | $162.1M | $929.0M | ||
| Q3 24 | $202.9M | $950.1M | ||
| Q2 24 | $204.2M | $1.8B | ||
| Q1 24 | $196.3M | $843.0M |
总债务HEIRPRX
| Q4 25 | $2.2B | $9.0B | ||
| Q3 25 | $2.4B | $8.9B | ||
| Q2 25 | $2.3B | $8.0B | ||
| Q1 25 | $2.3B | $7.6B | ||
| Q4 24 | $2.2B | $7.6B | ||
| Q3 24 | $2.3B | $7.6B | ||
| Q2 24 | $2.4B | $7.6B | ||
| Q1 24 | $2.5B | $6.1B |
股东权益HEIRPRX
| Q4 25 | $4.3B | $9.7B | ||
| Q3 25 | $4.1B | $9.6B | ||
| Q2 25 | $4.0B | $9.5B | ||
| Q1 25 | $3.7B | $9.8B | ||
| Q4 24 | $3.6B | $10.3B | ||
| Q3 24 | $3.5B | $10.3B | ||
| Q2 24 | $3.4B | $9.8B | ||
| Q1 24 | $3.3B | $9.9B |
总资产HEIRPRX
| Q4 25 | $8.5B | $19.6B | ||
| Q3 25 | $8.5B | $19.3B | ||
| Q2 25 | $8.1B | $18.3B | ||
| Q1 25 | $7.9B | $17.6B | ||
| Q4 24 | $7.6B | $18.2B | ||
| Q3 24 | $7.4B | $18.0B | ||
| Q2 24 | $7.4B | $17.7B | ||
| Q1 24 | $7.3B | $16.1B |
负债/权益比HEIRPRX
| Q4 25 | 0.50× | 0.92× | ||
| Q3 25 | 0.59× | 0.93× | ||
| Q2 25 | 0.57× | 0.84× | ||
| Q1 25 | 0.63× | 0.78× | ||
| Q4 24 | 0.61× | 0.74× | ||
| Q3 24 | 0.64× | 0.74× | ||
| Q2 24 | 0.70× | 0.78× | ||
| Q1 24 | 0.76× | 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 | $295.3M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $268.5M | — |
| 自由现金流率自由现金流/营收 | 22.2% | — |
| 资本支出强度资本支出/营收 | 2.2% | — |
| 现金转化率经营现金流/净利润 | 1.57× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $861.4M | — |
8季度趋势，按日历期对齐
经营现金流HEIRPRX
| Q4 25 | $295.3M | $827.1M | ||
| Q3 25 | $231.2M | $702.6M | ||
| Q2 25 | $204.7M | $364.0M | ||
| Q1 25 | $203.0M | $596.1M | ||
| Q4 24 | $205.6M | $742.5M | ||
| Q3 24 | $214.0M | $703.6M | ||
| Q2 24 | $141.1M | $658.2M | ||
| Q1 24 | $111.7M | $664.6M |
自由现金流HEIRPRX
| Q4 25 | $268.5M | — | ||
| Q3 25 | $218.5M | — | ||
| Q2 25 | $188.7M | — | ||
| Q1 25 | $185.7M | — | ||
| Q4 24 | $189.5M | — | ||
| Q3 24 | $198.1M | — | ||
| Q2 24 | $128.2M | — | ||
| Q1 24 | $98.3M | — |
自由现金流率HEIRPRX
| Q4 25 | 22.2% | — | ||
| Q3 25 | 19.0% | — | ||
| Q2 25 | 17.2% | — | ||
| Q1 25 | 18.0% | — | ||
| Q4 24 | 18.7% | — | ||
| Q3 24 | 20.0% | — | ||
| Q2 24 | 13.4% | — | ||
| Q1 24 | 11.0% | — |
资本支出强度HEIRPRX
| Q4 25 | 2.2% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 1.5% | — |
现金转化率HEIRPRX
| Q4 25 | 1.57× | 3.86× | ||
| Q3 25 | 1.30× | 2.44× | ||
| Q2 25 | 1.31× | 12.06× | ||
| Q1 25 | 1.21× | 2.50× | ||
| Q4 24 | 1.47× | 3.57× | ||
| Q3 24 | 1.57× | 1.29× | ||
| Q2 24 | 1.15× | 6.45× | ||
| Q1 24 | 0.97× | 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
HEI
| Aftermarket Replacement Parts | $510.0M | 42% |
| Electronic Componentsfor Defense Spaceand Aerospace | $311.8M | 26% |
| Defenseand Space | $170.6M | 14% |
| Specialty Products | $118.9M | 10% |
| Other Electronic Components | $73.0M | 6% |
| Other Industries | $15.9M | 1% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
