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李维斯（LEVI）与福泰制药（VRTX）财务数据对比。点击上方公司名可切换其他公司
福泰制药的季度营收约是李维斯的1.8倍（$3.2B vs $1.8B），福泰制药净利率更高（37.3% vs 8.9%，领先28.4%），福泰制药同比增速更快（9.5% vs -4.0%），福泰制药自由现金流更多（$348.6M vs $215.7M），过去两年福泰制药的营收复合增速更高（8.9% vs 6.5%）
李维斯（Levi Strauss & Co.）是全球知名的美国服饰企业，凭借旗下Levi's品牌丹宁牛仔裤享誉全球。公司创立于1853年5月，由德裔犹太移民李维·斯特劳斯在旧金山成立，注册地为特拉华州，总部设在旧金山李维斯广场。
福泰制药是总部位于美国马萨诸塞州波士顿的生物制药企业，是全球首批明确采用理性药物设计策略、而非组合化学方法开发药物的生物技术公司之一。除波士顿总部外，公司还在加州圣迭戈、英国牛津郡米尔顿公园设有三处研发中心。
LEVI vs VRTX — 直观对比
营收规模更大
VRTX
是对方的1.8倍
$1.8B
营收增速更快
VRTX
高出13.6%
-4.0%
净利率更高
VRTX
高出28.4%
8.9%
自由现金流更多
VRTX
多$132.9M
$215.7M
两年增速更快
VRTX
近两年复合增速
6.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $3.2B |
| 净利润 | $158.0M | $1.2B |
| 毛利率 | 60.8% | 85.4% |
| 营业利润率 | 11.9% | 37.8% |
| 净利率 | 8.9% | 37.3% |
| 营收同比 | -4.0% | 9.5% |
| 净利润同比 | -13.4% | 30.5% |
| 每股收益（稀释后） | $0.39 | $4.64 |
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LEVIVRTX
| Q4 25 | $1.8B | $3.2B | ||
| Q3 25 | $1.5B | $3.1B | ||
| Q2 25 | $1.4B | $3.0B | ||
| Q1 25 | $1.5B | $2.8B | ||
| Q4 24 | $1.8B | $2.9B | ||
| Q3 24 | $1.5B | $2.8B | ||
| Q2 24 | $1.4B | $2.6B | ||
| Q1 24 | $1.6B | $2.7B |
净利润LEVIVRTX
| Q4 25 | $158.0M | $1.2B | ||
| Q3 25 | $218.1M | $1.1B | ||
| Q2 25 | $67.0M | $1.0B | ||
| Q1 25 | $135.0M | $646.3M | ||
| Q4 24 | $182.5M | $913.0M | ||
| Q3 24 | $20.7M | $1.0B | ||
| Q2 24 | $18.0M | $-3.6B | ||
| Q1 24 | $-10.6M | $1.1B |
毛利率LEVIVRTX
| Q4 25 | 60.8% | 85.4% | ||
| Q3 25 | 61.7% | 86.5% | ||
| Q2 25 | 62.6% | 86.3% | ||
| Q1 25 | 62.1% | 86.9% | ||
| Q4 24 | 61.3% | 85.5% | ||
| Q3 24 | 60.0% | 85.8% | ||
| Q2 24 | 60.5% | 85.9% | ||
| Q1 24 | 58.2% | 87.3% |
营业利润率LEVIVRTX
| Q4 25 | 11.9% | 37.8% | ||
| Q3 25 | 10.8% | 38.6% | ||
| Q2 25 | 7.5% | 38.8% | ||
| Q1 25 | 12.5% | 22.7% | ||
| Q4 24 | 11.5% | 35.2% | ||
| Q3 24 | 2.0% | 40.3% | ||
| Q2 24 | 1.5% | -132.9% | ||
| Q1 24 | -0.0% | 42.4% |
净利率LEVIVRTX
| Q4 25 | 8.9% | 37.3% | ||
| Q3 25 | 14.1% | 35.2% | ||
| Q2 25 | 4.6% | 34.8% | ||
| Q1 25 | 8.8% | 23.3% | ||
| Q4 24 | 9.9% | 31.4% | ||
| Q3 24 | 1.4% | 37.7% | ||
| Q2 24 | 1.2% | -135.8% | ||
| Q1 24 | -0.7% | 40.9% |
每股收益（稀释后）LEVIVRTX
| Q4 25 | $0.39 | $4.64 | ||
| Q3 25 | $0.55 | $4.20 | ||
| Q2 25 | $0.17 | $3.99 | ||
| Q1 25 | $0.34 | $2.49 | ||
| Q4 24 | $0.46 | $3.62 | ||
| Q3 24 | $0.05 | $4.01 | ||
| Q2 24 | $0.04 | $-13.92 | ||
| Q1 24 | $-0.03 | $4.21 |
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 | $848.8M | $6.6B |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $2.3B | $18.7B |
| 总资产 | $6.8B | $25.6B |
| 负债/权益比越低杠杆越低 | 0.46× | — |
8季度趋势，按日历期对齐
现金及短期投资LEVIVRTX
| Q4 25 | $848.8M | $6.6B | ||
| Q3 25 | $707.5M | $6.3B | ||
| Q2 25 | $736.7M | $6.4B | ||
| Q1 25 | $574.4M | $6.2B | ||
| Q4 24 | $690.0M | $6.1B | ||
| Q3 24 | $577.1M | $6.5B | ||
| Q2 24 | $641.4M | $5.8B | ||
| Q1 24 | $516.7M | $10.2B |
总债务LEVIVRTX
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $987.4M | — | ||
| Q4 24 | $994.0M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.0B | — |
股东权益LEVIVRTX
| Q4 25 | $2.3B | $18.7B | ||
| Q3 25 | $2.2B | $17.3B | ||
| Q2 25 | $2.1B | $17.2B | ||
| Q1 25 | $2.0B | $16.5B | ||
| Q4 24 | $2.0B | $16.4B | ||
| Q3 24 | $1.9B | $15.6B | ||
| Q2 24 | $2.0B | $14.8B | ||
| Q1 24 | $2.0B | $18.5B |
总资产LEVIVRTX
| Q4 25 | $6.8B | $25.6B | ||
| Q3 25 | $6.7B | $24.9B | ||
| Q2 25 | $6.5B | $24.0B | ||
| Q1 25 | $6.2B | $22.9B | ||
| Q4 24 | $6.4B | $22.5B | ||
| Q3 24 | $6.3B | $22.2B | ||
| Q2 24 | $6.2B | $20.1B | ||
| Q1 24 | $6.0B | $23.9B |
负债/权益比LEVIVRTX
| Q4 25 | 0.46× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.49× | — | ||
| Q1 25 | 0.49× | — | ||
| Q4 24 | 0.50× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.51× | — | ||
| Q1 24 | 0.51× | — |
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 | $266.8M | $498.0M |
| 自由现金流经营现金流 - 资本支出 | $215.7M | $348.6M |
| 自由现金流率自由现金流/营收 | 12.2% | 10.9% |
| 资本支出强度资本支出/营收 | 2.9% | 4.7% |
| 现金转化率经营现金流/净利润 | 1.69× | 0.42× |
| 过去12个月自由现金流最近4个季度 | $308.2M | $3.2B |
8季度趋势，按日历期对齐
经营现金流LEVIVRTX
| Q4 25 | $266.8M | $498.0M | ||
| Q3 25 | $24.8M | $1.2B | ||
| Q2 25 | $185.5M | $1.1B | ||
| Q1 25 | $52.5M | $818.9M | ||
| Q4 24 | $297.3M | $584.6M | ||
| Q3 24 | $52.3M | $1.4B | ||
| Q2 24 | $262.8M | $-3.8B | ||
| Q1 24 | $286.0M | $1.3B |
自由现金流LEVIVRTX
| Q4 25 | $215.7M | $348.6M | ||
| Q3 25 | $-39.4M | $1.1B | ||
| Q2 25 | $146.0M | $927.4M | ||
| Q1 25 | $-14.1M | $778.2M | ||
| Q4 24 | $231.6M | $492.0M | ||
| Q3 24 | $2.3M | $1.3B | ||
| Q2 24 | $222.6M | $-3.8B | ||
| Q1 24 | $214.4M | $1.2B |
自由现金流率LEVIVRTX
| Q4 25 | 12.2% | 10.9% | ||
| Q3 25 | -2.6% | 37.0% | ||
| Q2 25 | 10.1% | 31.3% | ||
| Q1 25 | -0.9% | 28.1% | ||
| Q4 24 | 12.6% | 16.9% | ||
| Q3 24 | 0.2% | 47.0% | ||
| Q2 24 | 15.4% | -144.5% | ||
| Q1 24 | 13.8% | 46.0% |
资本支出强度LEVIVRTX
| Q4 25 | 2.9% | 4.7% | ||
| Q3 25 | 4.2% | 3.3% | ||
| Q2 25 | 2.7% | 4.9% | ||
| Q1 25 | 4.4% | 1.5% | ||
| Q4 24 | 3.6% | 3.2% | ||
| Q3 24 | 3.3% | 2.4% | ||
| Q2 24 | 2.8% | 2.6% | ||
| Q1 24 | 4.6% | 2.5% |
现金转化率LEVIVRTX
| Q4 25 | 1.69× | 0.42× | ||
| Q3 25 | 0.11× | 1.15× | ||
| Q2 25 | 2.77× | 1.04× | ||
| Q1 25 | 0.39× | 1.27× | ||
| Q4 24 | 1.63× | 0.64× | ||
| Q3 24 | 2.53× | 1.31× | ||
| Q2 24 | 14.60× | — | ||
| Q1 24 | — | 1.19× |
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
LEVI
| Other | $760.3M | 43% |
| Sales Channel Through Intermediary | $583.2M | 33% |
| Sales Channel Directly To Consumer | $376.0M | 21% |
| Beyond Yoga | $46.3M | 3% |
VRTX
| TRIKAFTAKAFTRIO | $2.6B | 81% |
| ALYFTREK | $380.1M | 12% |
| Manufactured Product Other | $237.4M | 7% |
