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爵士制药（JAZZ）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
爵士制药的季度营收约是思佳讯的1.2倍（$1.2B vs $1.0B），爵士制药净利率更高（17.0% vs 7.6%，领先9.3%），爵士制药同比增速更快（10.1% vs 8.6%），爵士制药自由现金流更多（$345.8M vs $339.0M），过去两年爵士制药的营收复合增速更高（15.2% vs -0.5%）
爵士制药是一家全球性生物制药企业，核心业务聚焦肿瘤学与神经科学两大领域，2003年在美国加利福尼亚州成立，当前总部坐落于爱尔兰首都都柏林。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
JAZZ vs SWKS — 直观对比
营收规模更大
JAZZ
是对方的1.2倍
$1.0B
营收增速更快
JAZZ
高出1.5%
8.6%
净利率更高
JAZZ
高出9.3%
7.6%
自由现金流更多
JAZZ
多$6.8M
$339.0M
两年增速更快
JAZZ
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.0B |
| 净利润 | $203.5M | $79.2M |
| 毛利率 | — | 41.3% |
| 营业利润率 | 21.2% | 10.0% |
| 净利率 | 17.0% | 7.6% |
| 营收同比 | 10.1% | 8.6% |
| 净利润同比 | 6.5% | 15.3% |
| 每股收益（稀释后） | $3.34 | $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JAZZSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.0B | $965.0M | ||
| Q1 25 | $897.8M | $953.2M | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $1.0B | $905.5M |
净利润JAZZSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $203.5M | $141.4M | ||
| Q3 25 | $251.4M | — | ||
| Q2 25 | $-718.5M | $105.0M | ||
| Q1 25 | $-92.5M | $68.7M | ||
| Q4 24 | $191.1M | $162.0M | ||
| Q3 24 | $215.1M | $60.5M | ||
| Q2 24 | $168.6M | $120.9M |
毛利率JAZZSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | — | 40.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 41.6% | ||
| Q1 25 | — | 41.1% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 41.9% | ||
| Q2 24 | — | 40.2% |
营业利润率JAZZSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | 21.2% | 10.1% | ||
| Q3 25 | 5.1% | — | ||
| Q2 25 | -65.6% | 11.5% | ||
| Q1 25 | -6.2% | 10.2% | ||
| Q4 24 | 17.5% | 16.9% | ||
| Q3 24 | 24.7% | 5.8% | ||
| Q2 24 | 19.5% | 14.4% |
净利率JAZZSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | 17.0% | 12.9% | ||
| Q3 25 | 22.3% | — | ||
| Q2 25 | -68.7% | 10.9% | ||
| Q1 25 | -10.3% | 7.2% | ||
| Q4 24 | 17.6% | 15.2% | ||
| Q3 24 | 20.4% | 5.9% | ||
| Q2 24 | 16.5% | 13.4% |
每股收益（稀释后）JAZZSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $3.34 | $0.95 | ||
| Q3 25 | $4.08 | — | ||
| Q2 25 | $-11.74 | $0.70 | ||
| Q1 25 | $-1.52 | $0.43 | ||
| Q4 24 | $2.97 | $1.00 | ||
| Q3 24 | $3.42 | $0.36 | ||
| Q2 24 | $2.49 | $0.75 |
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 | $1.6B |
| 总债务越低越好 | $5.4B | $496.6M |
| 股东权益账面价值 | $4.3B | $5.8B |
| 总资产 | $11.7B | $7.9B |
| 负债/权益比越低杠杆越低 | 1.24× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资JAZZSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.4B | $1.4B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.9B | $1.5B | ||
| Q4 24 | $2.4B | $1.7B | ||
| Q3 24 | $2.2B | $1.6B | ||
| Q2 24 | $1.4B | $1.3B |
总债务JAZZSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | $5.4B | $496.4M | ||
| Q3 25 | $5.4B | — | ||
| Q2 25 | $5.4B | $496.2M | ||
| Q1 25 | $5.4B | $995.1M | ||
| Q4 24 | $6.1B | $994.7M | ||
| Q3 24 | $6.1B | $994.3M | ||
| Q2 24 | $5.7B | $994.0M |
股东权益JAZZSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $4.3B | $5.8B | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.7B | $5.7B | ||
| Q1 25 | $4.2B | $5.9B | ||
| Q4 24 | $4.1B | $6.4B | ||
| Q3 24 | $4.2B | $6.3B | ||
| Q2 24 | $3.8B | $6.3B |
总资产JAZZSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $11.7B | $7.9B | ||
| Q3 25 | $11.4B | — | ||
| Q2 25 | $10.9B | $7.7B | ||
| Q1 25 | $11.5B | $7.9B | ||
| Q4 24 | $12.0B | $8.3B | ||
| Q3 24 | $12.3B | $8.3B | ||
| Q2 24 | $11.4B | $8.2B |
负债/权益比JAZZSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | 1.24× | 0.09× | ||
| Q3 25 | 1.35× | — | ||
| Q2 25 | 1.45× | 0.09× | ||
| Q1 25 | 1.29× | 0.17× | ||
| Q4 24 | 1.49× | 0.16× | ||
| Q3 24 | 1.47× | 0.16× | ||
| Q2 24 | 1.52× | 0.16× |
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 | $362.5M | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $345.8M | $339.0M |
| 自由现金流率自由现金流/营收 | 28.9% | 32.7% |
| 资本支出强度资本支出/营收 | 1.4% | 5.5% |
| 现金转化率经营现金流/净利润 | 1.78× | 4.99× |
| 过去12个月自由现金流最近4个季度 | $1.3B | $1.1B |
8季度趋势，按日历期对齐
经营现金流JAZZSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $362.5M | $200.0M | ||
| Q3 25 | $474.6M | — | ||
| Q2 25 | $88.9M | $314.2M | ||
| Q1 25 | $429.8M | $409.4M | ||
| Q4 24 | $398.6M | $377.2M | ||
| Q3 24 | $398.7M | $476.1M | ||
| Q2 24 | $331.4M | $273.4M |
自由现金流JAZZSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $345.8M | $144.0M | ||
| Q3 25 | $459.4M | — | ||
| Q2 25 | $75.9M | $252.7M | ||
| Q1 25 | $415.9M | $370.9M | ||
| Q4 24 | $385.3M | $338.2M | ||
| Q3 24 | $388.0M | $393.3M | ||
| Q2 24 | $324.3M | $249.0M |
自由现金流率JAZZSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 28.9% | 13.1% | ||
| Q3 25 | 40.8% | — | ||
| Q2 25 | 7.3% | 26.2% | ||
| Q1 25 | 46.3% | 38.9% | ||
| Q4 24 | 35.4% | 31.7% | ||
| Q3 24 | 36.8% | 38.4% | ||
| Q2 24 | 31.7% | 27.5% |
资本支出强度JAZZSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 1.4% | 5.1% | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 1.2% | 6.4% | ||
| Q1 25 | 1.5% | 4.0% | ||
| Q4 24 | 1.2% | 3.6% | ||
| Q3 24 | 1.0% | 8.1% | ||
| Q2 24 | 0.7% | 2.7% |
现金转化率JAZZSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | 1.78× | 1.41× | ||
| Q3 25 | 1.89× | — | ||
| Q2 25 | — | 2.99× | ||
| Q1 25 | — | 5.96× | ||
| Q4 24 | 2.09× | 2.33× | ||
| Q3 24 | 1.85× | 7.87× | ||
| Q2 24 | 1.97× | 2.26× |
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
JAZZ
| Xywav | $465.5M | 39% |
| Total Oncology | $337.8M | 28% |
| Rylaze Enrylaze | $108.2M | 9% |
| Zepzelca | $90.4M | 8% |
| Product And Services Royalties And Contract Revenue | $65.5M | 5% |
| High Sodium AG Oxybate Product Royalty Revenue | $55.7M | 5% |
| Xyrem | $37.8M | 3% |
| Vyxeos | $34.7M | 3% |
| Ziihera | $8.5M | 1% |
| Other Products | $2.8M | 0% |
| Sativex | $1.5M | 0% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
