vs
哈雷戴维森（HOG）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
Royalty Pharma plc的季度营收约是哈雷戴维森的1.6倍（$622.0M vs $390.5M），Royalty Pharma plc净利率更高（34.4% vs -72.3%，领先106.8%），Royalty Pharma plc同比增速更快（4.8% vs -9.4%），过去两年Royalty Pharma plc的营收复合增速更高（4.6% vs -48.6%）
哈雷戴维森是源自美国的摩托车制造商与生活方式品牌，总部位于威斯康星州密尔沃基，创立于1903年。它是大萧条时期幸存下来的两大美国摩托车厂商之一，历经多次股权变动、子公司调整、经营困境与全球竞争，如今已是全球知名的标志性品牌。
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。
HOG vs RPRX — 直观对比
营收规模更大
RPRX
是对方的1.6倍
$390.5M
营收增速更快
RPRX
高出14.1%
-9.4%
净利率更高
RPRX
高出106.8%
-72.3%
两年增速更快
RPRX
近两年复合增速
-48.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $390.5M | $622.0M |
| 净利润 | $-282.6M | $214.2M |
| 毛利率 | -7.9% | — |
| 营业利润率 | -92.4% | 62.4% |
| 净利率 | -72.3% | 34.4% |
| 营收同比 | -9.4% | 4.8% |
| 净利润同比 | -138.6% | 2.9% |
| 每股收益（稀释后） | $-2.27 | $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HOGRPRX
| Q4 25 | $390.5M | $622.0M | ||
| Q3 25 | $1.1B | $609.3M | ||
| Q2 25 | $1.0B | $578.7M | ||
| Q1 25 | $1.1B | $568.2M | ||
| Q4 24 | $430.9M | $593.6M | ||
| Q3 24 | $881.2M | $564.7M | ||
| Q2 24 | $1.4B | $537.3M | ||
| Q1 24 | $1.5B | $568.0M |
净利润HOGRPRX
| Q4 25 | $-282.6M | $214.2M | ||
| Q3 25 | $377.4M | $288.2M | ||
| Q2 25 | $107.6M | $30.2M | ||
| Q1 25 | $133.1M | $238.3M | ||
| Q4 24 | $-118.4M | $208.2M | ||
| Q3 24 | $119.0M | $544.0M | ||
| Q2 24 | $218.3M | $102.0M | ||
| Q1 24 | $234.9M | $4.8M |
毛利率HOGRPRX
| Q4 25 | -7.9% | — | ||
| Q3 25 | 26.0% | — | ||
| Q2 25 | 28.5% | — | ||
| Q1 25 | 28.9% | — | ||
| Q4 24 | -2.0% | — | ||
| Q3 24 | 29.8% | — | ||
| Q2 24 | 31.8% | — | ||
| Q1 24 | 30.9% | — |
营业利润率HOGRPRX
| Q4 25 | -92.4% | 62.4% | ||
| Q3 25 | 44.0% | 70.1% | ||
| Q2 25 | 10.7% | 36.3% | ||
| Q1 25 | 14.8% | 94.0% | ||
| Q4 24 | -44.9% | 60.9% | ||
| Q3 24 | 12.0% | — | ||
| Q2 24 | 17.8% | 50.2% | ||
| Q1 24 | 17.8% | -13.0% |
净利率HOGRPRX
| Q4 25 | -72.3% | 34.4% | ||
| Q3 25 | 35.0% | 47.3% | ||
| Q2 25 | 10.2% | 5.2% | ||
| Q1 25 | 12.3% | 41.9% | ||
| Q4 24 | -27.5% | 35.1% | ||
| Q3 24 | 13.5% | 96.3% | ||
| Q2 24 | 16.1% | 19.0% | ||
| Q1 24 | 15.9% | 0.8% |
每股收益（稀释后）HOGRPRX
| Q4 25 | $-2.27 | $0.49 | ||
| Q3 25 | $3.10 | $0.67 | ||
| Q2 25 | $0.88 | $0.07 | ||
| Q1 25 | $1.07 | $0.55 | ||
| Q4 24 | $-0.82 | $0.46 | ||
| Q3 24 | $0.91 | $1.21 | ||
| Q2 24 | $1.63 | $0.23 | ||
| Q1 24 | $1.72 | $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 | $3.1B | $618.7M |
| 总债务越低越好 | $2.5B | $9.0B |
| 股东权益账面价值 | $3.1B | $9.7B |
| 总资产 | $8.0B | $19.6B |
| 负债/权益比越低杠杆越低 | 0.79× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资HOGRPRX
| Q4 25 | $3.1B | $618.7M | ||
| Q3 25 | $1.8B | $938.9M | ||
| Q2 25 | $1.6B | $631.9M | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $1.6B | $929.0M | ||
| Q3 24 | $2.2B | $950.1M | ||
| Q2 24 | $1.8B | $1.8B | ||
| Q1 24 | $1.5B | $843.0M |
总债务HOGRPRX
| Q4 25 | $2.5B | $9.0B | ||
| Q3 25 | $4.5B | $8.9B | ||
| Q2 25 | $6.4B | $8.0B | ||
| Q1 25 | $6.8B | $7.6B | ||
| Q4 24 | $6.3B | $7.6B | ||
| Q3 24 | $7.3B | $7.6B | ||
| Q2 24 | $7.0B | $7.6B | ||
| Q1 24 | $6.3B | $6.1B |
股东权益HOGRPRX
| Q4 25 | $3.1B | $9.7B | ||
| Q3 25 | $3.6B | $9.6B | ||
| Q2 25 | $3.3B | $9.5B | ||
| Q1 25 | $3.2B | $9.8B | ||
| Q4 24 | $3.2B | $10.3B | ||
| Q3 24 | $3.4B | $10.3B | ||
| Q2 24 | $3.4B | $9.8B | ||
| Q1 24 | $3.3B | $9.9B |
总资产HOGRPRX
| Q4 25 | $8.0B | $19.6B | ||
| Q3 25 | $10.6B | $19.3B | ||
| Q2 25 | $12.1B | $18.3B | ||
| Q1 25 | $12.4B | $17.6B | ||
| Q4 24 | $11.9B | $18.2B | ||
| Q3 24 | $13.0B | $18.0B | ||
| Q2 24 | $12.8B | $17.7B | ||
| Q1 24 | $12.3B | $16.1B |
负债/权益比HOGRPRX
| Q4 25 | 0.79× | 0.92× | ||
| Q3 25 | 1.25× | 0.93× | ||
| Q2 25 | 1.91× | 0.84× | ||
| Q1 25 | 2.14× | 0.78× | ||
| Q4 24 | 2.00× | 0.74× | ||
| Q3 24 | 2.13× | 0.74× | ||
| Q2 24 | 2.03× | 0.78× | ||
| Q1 24 | 1.88× | 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 | $152.0M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $100.4M | — |
| 自由现金流率自由现金流/营收 | 25.7% | — |
| 资本支出强度资本支出/营收 | 13.2% | — |
| 现金转化率经营现金流/净利润 | — | 3.86× |
| 过去12个月自由现金流最近4个季度 | $415.2M | — |
8季度趋势，按日历期对齐
经营现金流HOGRPRX
| Q4 25 | $152.0M | $827.1M | ||
| Q3 25 | $-92.6M | $702.6M | ||
| Q2 25 | $368.0M | $364.0M | ||
| Q1 25 | $141.5M | $596.1M | ||
| Q4 24 | $133.2M | $742.5M | ||
| Q3 24 | $353.0M | $703.6M | ||
| Q2 24 | $473.6M | $658.2M | ||
| Q1 24 | $104.0M | $664.6M |
自由现金流HOGRPRX
| Q4 25 | $100.4M | — | ||
| Q3 25 | $-129.1M | — | ||
| Q2 25 | $332.4M | — | ||
| Q1 25 | $111.6M | — | ||
| Q4 24 | $77.0M | — | ||
| Q3 24 | $300.4M | — | ||
| Q2 24 | $432.2M | — | ||
| Q1 24 | $57.6M | — |
自由现金流率HOGRPRX
| Q4 25 | 25.7% | — | ||
| Q3 25 | -12.0% | — | ||
| Q2 25 | 31.7% | — | ||
| Q1 25 | 10.3% | — | ||
| Q4 24 | 17.9% | — | ||
| Q3 24 | 34.1% | — | ||
| Q2 24 | 31.9% | — | ||
| Q1 24 | 3.9% | — |
资本支出强度HOGRPRX
| Q4 25 | 13.2% | — | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | 2.8% | — | ||
| Q4 24 | 13.0% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | 3.1% | — | ||
| Q1 24 | 3.1% | — |
现金转化率HOGRPRX
| Q4 25 | — | 3.86× | ||
| Q3 25 | -0.25× | 2.44× | ||
| Q2 25 | 3.42× | 12.06× | ||
| Q1 25 | 1.06× | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | 2.97× | 1.29× | ||
| Q2 24 | 2.17× | 6.45× | ||
| Q1 24 | 0.44× | 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
HOG
| Motorcycles | $193.9M | 50% |
| Other | $63.8M | 16% |
| Other Income Financial Services | $59.8M | 15% |
| Apparel | $47.2M | 12% |
| Livewire Segment | $11.4M | 3% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
