vs
林肯电气（LECO）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
林肯电气的季度营收约是Royalty Pharma plc的1.7倍（$1.1B vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 12.6%，领先21.8%），林肯电气同比增速更快（5.5% vs 4.8%），过去两年林肯电气的营收复合增速更高（4.9% vs 4.6%）
林肯电气是美国跨国焊接产品制造企业，总部位于俄亥俄州欧几里得市，主营弧焊设备、焊接配件、等离子及氧燃料切割设备、焊接机器人系统等，业务覆盖160余个国家和地区，在全球设有42个生产基地，同时在19个国家布局了生产联盟及合资企业。
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。
LECO vs RPRX — 直观对比
营收规模更大
LECO
是对方的1.7倍
$622.0M
营收增速更快
LECO
高出0.8%
4.8%
净利率更高
RPRX
高出21.8%
12.6%
两年增速更快
LECO
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $622.0M |
| 净利润 | $136.0M | $214.2M |
| 毛利率 | 34.7% | — |
| 营业利润率 | 17.1% | 62.4% |
| 净利率 | 12.6% | 34.4% |
| 营收同比 | 5.5% | 4.8% |
| 净利润同比 | -3.0% | 2.9% |
| 每股收益（稀释后） | $2.45 | $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LECORPRX
| Q4 25 | $1.1B | $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 | $983.8M | $564.7M | ||
| Q2 24 | $1.0B | $537.3M | ||
| Q1 24 | $981.2M | $568.0M |
净利润LECORPRX
| Q4 25 | $136.0M | $214.2M | ||
| Q3 25 | $122.6M | $288.2M | ||
| Q2 25 | $143.4M | $30.2M | ||
| Q1 25 | $118.5M | $238.3M | ||
| Q4 24 | $140.2M | $208.2M | ||
| Q3 24 | $100.8M | $544.0M | ||
| Q2 24 | $101.7M | $102.0M | ||
| Q1 24 | $123.4M | $4.8M |
毛利率LECORPRX
| Q4 25 | 34.7% | — | ||
| Q3 25 | 36.7% | — | ||
| Q2 25 | 37.3% | — | ||
| Q1 25 | 36.4% | — | ||
| Q4 24 | 36.1% | — | ||
| Q3 24 | 35.8% | — | ||
| Q2 24 | 37.6% | — | ||
| Q1 24 | 37.5% | — |
营业利润率LECORPRX
| Q4 25 | 17.1% | 62.4% | ||
| Q3 25 | 16.6% | 70.1% | ||
| Q2 25 | 17.6% | 36.3% | ||
| Q1 25 | 16.4% | 94.0% | ||
| Q4 24 | 17.3% | 60.9% | ||
| Q3 24 | 14.8% | — | ||
| Q2 24 | 14.6% | 50.2% | ||
| Q1 24 | 16.8% | -13.0% |
净利率LECORPRX
| Q4 25 | 12.6% | 34.4% | ||
| Q3 25 | 11.6% | 47.3% | ||
| Q2 25 | 13.2% | 5.2% | ||
| Q1 25 | 11.8% | 41.9% | ||
| Q4 24 | 13.7% | 35.1% | ||
| Q3 24 | 10.2% | 96.3% | ||
| Q2 24 | 10.0% | 19.0% | ||
| Q1 24 | 12.6% | 0.8% |
每股收益（稀释后）LECORPRX
| Q4 25 | $2.45 | $0.49 | ||
| Q3 25 | $2.21 | $0.67 | ||
| Q2 25 | $2.56 | $0.07 | ||
| Q1 25 | $2.10 | $0.55 | ||
| Q4 24 | $2.47 | $0.46 | ||
| Q3 24 | $1.77 | $1.21 | ||
| Q2 24 | $1.77 | $0.23 | ||
| Q1 24 | $2.14 | $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 | $308.8M | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $1.5B | $9.7B |
| 总资产 | $3.8B | $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LECORPRX
| Q4 25 | $308.8M | $618.7M | ||
| Q3 25 | $293.0M | $938.9M | ||
| Q2 25 | $299.5M | $631.9M | ||
| Q1 25 | $394.7M | $1.1B | ||
| Q4 24 | $377.3M | $929.0M | ||
| Q3 24 | $404.2M | $950.1M | ||
| Q2 24 | $272.7M | $1.8B | ||
| Q1 24 | $375.0M | $843.0M |
总债务LECORPRX
| 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LECORPRX
| Q4 25 | $1.5B | $9.7B | ||
| Q3 25 | $1.4B | $9.6B | ||
| Q2 25 | $1.4B | $9.5B | ||
| Q1 25 | $1.3B | $9.8B | ||
| Q4 24 | $1.3B | $10.3B | ||
| Q3 24 | $1.3B | $10.3B | ||
| Q2 24 | $1.3B | $9.8B | ||
| Q1 24 | $1.3B | $9.9B |
总资产LECORPRX
| Q4 25 | $3.8B | $19.6B | ||
| Q3 25 | $3.8B | $19.3B | ||
| Q2 25 | $3.7B | $18.3B | ||
| Q1 25 | $3.6B | $17.6B | ||
| Q4 24 | $3.5B | $18.2B | ||
| Q3 24 | $3.7B | $18.0B | ||
| Q2 24 | $3.4B | $17.7B | ||
| Q1 24 | $3.4B | $16.1B |
负债/权益比LECORPRX
| 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 | $95.0M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $52.0M | — |
| 自由现金流率自由现金流/营收 | 4.8% | — |
| 资本支出强度资本支出/营收 | 4.0% | — |
| 现金转化率经营现金流/净利润 | 0.70× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $534.2M | — |
8季度趋势，按日历期对齐
经营现金流LECORPRX
| Q4 25 | $95.0M | $827.1M | ||
| Q3 25 | $236.7M | $702.6M | ||
| Q2 25 | $143.8M | $364.0M | ||
| Q1 25 | $185.7M | $596.1M | ||
| Q4 24 | $95.8M | $742.5M | ||
| Q3 24 | $199.2M | $703.6M | ||
| Q2 24 | $170.7M | $658.2M | ||
| Q1 24 | $133.3M | $664.6M |
自由现金流LECORPRX
| Q4 25 | $52.0M | — | ||
| Q3 25 | $205.1M | — | ||
| Q2 25 | $118.4M | — | ||
| Q1 25 | $158.7M | — | ||
| Q4 24 | $64.3M | — | ||
| Q3 24 | $163.5M | — | ||
| Q2 24 | $147.5M | — | ||
| Q1 24 | $107.0M | — |
自由现金流率LECORPRX
| Q4 25 | 4.8% | — | ||
| Q3 25 | 19.3% | — | ||
| Q2 25 | 10.9% | — | ||
| Q1 25 | 15.8% | — | ||
| Q4 24 | 6.3% | — | ||
| Q3 24 | 16.6% | — | ||
| Q2 24 | 14.4% | — | ||
| Q1 24 | 10.9% | — |
资本支出强度LECORPRX
| Q4 25 | 4.0% | — | ||
| Q3 25 | 3.0% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 2.7% | — | ||
| Q4 24 | 3.1% | — | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 2.3% | — | ||
| Q1 24 | 2.7% | — |
现金转化率LECORPRX
| Q4 25 | 0.70× | 3.86× | ||
| Q3 25 | 1.93× | 2.44× | ||
| Q2 25 | 1.00× | 12.06× | ||
| Q1 25 | 1.57× | 2.50× | ||
| Q4 24 | 0.68× | 3.57× | ||
| Q3 24 | 1.98× | 1.29× | ||
| Q2 24 | 1.68× | 6.45× | ||
| Q1 24 | 1.08× | 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
LECO
| Americas Welding | $681.9M | 63% |
| International Welding | $259.4M | 24% |
| Harris Products Group | $137.4M | 13% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
