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礼来（LLY）与拼多多（PDD）财务数据对比。点击上方公司名可切换其他公司
礼来的季度营收约是拼多多的1.3倍（$19.3B vs $15.2B），礼来净利率更高（34.4% vs 27.1%，领先7.3%），过去两年拼多多的营收复合增速更高（74.6% vs 48.3%）
礼来（Eli Lilly and Company）是总部位于美国印第安纳州印第安纳波利斯的跨国制药企业，1876年由美国内战时期联邦军退伍药剂师伊莱·礼来创立，目前在18个国家设有办事处，产品销往全球约125个国家，是全球知名的制药厂商。
PDD控股是总部位于爱尔兰的跨国企业，旗下拥有中国头部线上零售平台拼多多和跨境电商平台Temu。拼多多主打农业供应链数字化升级，助力农产品直接对接广大消费者需求。
LLY vs PDD — 直观对比
营收规模更大
LLY
是对方的1.3倍
$15.2B
净利率更高
LLY
高出7.3%
27.1%
两年增速更快
PDD
近两年复合增速
48.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $19.3B | $15.2B |
| 净利润 | $6.6B | $4.1B |
| 毛利率 | 82.5% | 56.7% |
| 营业利润率 | 42.8% | 23.1% |
| 净利率 | 34.4% | 27.1% |
| 营收同比 | 42.6% | — |
| 净利润同比 | 50.5% | — |
| 每股收益（稀释后） | $7.39 | — |
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LLYPDD
| Q4 25 | $19.3B | — | ||
| Q3 25 | $17.6B | $15.2B | ||
| Q2 25 | $15.6B | $14.5B | ||
| Q1 25 | $12.7B | — | ||
| Q4 24 | $13.5B | — | ||
| Q3 24 | $11.4B | $14.2B | ||
| Q2 24 | $11.3B | — | ||
| Q1 24 | $8.8B | $12.0B |
净利润LLYPDD
| Q4 25 | $6.6B | — | ||
| Q3 25 | $5.6B | $4.1B | ||
| Q2 25 | $5.7B | $4.3B | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $4.4B | — | ||
| Q3 24 | $970.3M | $3.6B | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $2.2B | $3.9B |
毛利率LLYPDD
| Q4 25 | 82.5% | — | ||
| Q3 25 | 82.9% | 56.7% | ||
| Q2 25 | 84.3% | 55.9% | ||
| Q1 25 | 82.5% | — | ||
| Q4 24 | 82.2% | — | ||
| Q3 24 | 81.0% | 60.0% | ||
| Q2 24 | 80.8% | — | ||
| Q1 24 | 80.9% | 62.3% |
营业利润率LLYPDD
| Q4 25 | 42.8% | — | ||
| Q3 25 | 41.1% | 23.1% | ||
| Q2 25 | 43.6% | 24.8% | ||
| Q1 25 | 27.2% | — | ||
| Q4 24 | 37.2% | — | ||
| Q3 24 | 13.9% | 24.5% | ||
| Q2 24 | 31.1% | — | ||
| Q1 24 | 28.9% | 29.9% |
净利率LLYPDD
| Q4 25 | 34.4% | — | ||
| Q3 25 | 31.7% | 27.1% | ||
| Q2 25 | 36.4% | 29.6% | ||
| Q1 25 | 21.7% | — | ||
| Q4 24 | 32.6% | — | ||
| Q3 24 | 8.5% | 25.1% | ||
| Q2 24 | 26.3% | — | ||
| Q1 24 | 25.6% | 32.3% |
每股收益（稀释后）LLYPDD
| Q4 25 | $7.39 | — | ||
| Q3 25 | $6.21 | — | ||
| Q2 25 | $6.29 | — | ||
| Q1 25 | $3.06 | — | ||
| Q4 24 | $4.88 | — | ||
| Q3 24 | $1.07 | — | ||
| Q2 24 | $3.28 | — | ||
| Q1 24 | $2.48 | — |
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 | $7.3B | $13.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $26.5B | $55.0B |
| 总资产 | $112.5B | $86.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资LLYPDD
| Q4 25 | $7.3B | — | ||
| Q3 25 | $9.9B | $13.0B | ||
| Q2 25 | $3.5B | $8.8B | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | $3.5B | $9.3B | ||
| Q2 24 | $3.4B | — | ||
| Q1 24 | $2.6B | $7.7B |
总债务LLYPDD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $29.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益LLYPDD
| Q4 25 | $26.5B | — | ||
| Q3 25 | $23.8B | $55.0B | ||
| Q2 25 | $18.3B | $50.5B | ||
| Q1 25 | $15.8B | — | ||
| Q4 24 | $14.2B | — | ||
| Q3 24 | $14.2B | $39.7B | ||
| Q2 24 | $13.6B | — | ||
| Q1 24 | $12.8B | $30.3B |
总资产LLYPDD
| Q4 25 | $112.5B | — | ||
| Q3 25 | $114.9B | $86.2B | ||
| Q2 25 | $100.9B | $79.2B | ||
| Q1 25 | $89.4B | — | ||
| Q4 24 | $78.7B | — | ||
| Q3 24 | $75.6B | $66.5B | ||
| Q2 24 | $71.9B | — | ||
| Q1 24 | $63.9B | $52.3B |
负债/权益比LLYPDD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.08× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $3.2B | $6.4B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 0.49× | 1.56× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流LLYPDD
| Q4 25 | $3.2B | — | ||
| Q3 25 | $8.8B | $6.4B | ||
| Q2 25 | $3.1B | $3.0B | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $3.7B | $3.9B | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.2B | $2.9B |
现金转化率LLYPDD
| Q4 25 | 0.49× | — | ||
| Q3 25 | 1.58× | 1.56× | ||
| Q2 25 | 0.55× | 0.70× | ||
| Q1 25 | 0.60× | — | ||
| Q4 24 | 0.56× | — | ||
| Q3 24 | 3.83× | 1.10× | ||
| Q2 24 | 0.49× | — | ||
| Q1 24 | 0.52× | 0.75× |
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
LLY
| Other | $5.4B | 28% |
| Zepbound | $4.2B | 22% |
| Mounjaro | $4.1B | 21% |
| Verzenio | $997.1M | 5% |
| Collaborationand Other Revenue | $991.7M | 5% |
| Taltz | $724.3M | 4% |
| Trulicity | $692.8M | 4% |
| Other Cardiometabolic Health | $524.5M | 3% |
| Other Oncology | $514.8M | 3% |
| Jardiance | $465.8M | 2% |
| Neuroscience | $320.2M | 2% |
| Other Immunology | $187.3M | 1% |
| Other Product Total | $77.0M | 0% |
PDD
暂无分部数据
