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罗技（LOGI）与UNITED THERAPEUTICS Corp（UTHR）财务数据对比。点击上方公司名可切换其他公司
罗技的季度营收约是UNITED THERAPEUTICS Corp的1.8倍（$1.4B vs $790.2M），UNITED THERAPEUTICS Corp净利率更高（46.1% vs 17.7%，领先28.4%），UNITED THERAPEUTICS Corp同比增速更快（7.4% vs 6.1%），罗技自由现金流更多（$465.6M vs $173.3M），过去两年罗技的营收复合增速更高（18.5% vs 8.0%）
罗技国际是总部位于瑞士洛桑的跨国企业，专注于计算机外设及相关软件的研发与生产，在欧洲、亚洲、大洋洲、美洲均设有分支机构，为瑞士市场指数成分股，同时在纳斯达克交易所挂牌上市。
United Therapeutics是美国生物技术企业，专注开发包含异种移植在内的器官移植相关药物与技术，多款产品布局肺部疾病及器官制造赛道，双总部位于马里兰州银泉与北卡罗来纳州三角研究园，在美加多地设有研发及运营分支机构。
LOGI vs UTHR — 直观对比
营收规模更大
LOGI
是对方的1.8倍
$790.2M
营收增速更快
UTHR
高出1.3%
6.1%
净利率更高
UTHR
高出28.4%
17.7%
自由现金流更多
LOGI
多$292.3M
$173.3M
两年增速更快
LOGI
近两年复合增速
8.0%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $790.2M |
| 净利润 | $251.0M | $364.3M |
| 毛利率 | 43.2% | 86.9% |
| 营业利润率 | 20.1% | 45.1% |
| 净利率 | 17.7% | 46.1% |
| 营收同比 | 6.1% | 7.4% |
| 净利润同比 | 25.4% | 20.9% |
| 每股收益（稀释后） | $1.69 | $7.66 |
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LOGIUTHR
| Q4 25 | $1.4B | $790.2M | ||
| Q3 25 | $1.2B | $799.5M | ||
| Q2 25 | $1.1B | $798.6M | ||
| Q1 25 | $1.0B | $794.4M | ||
| Q4 24 | $1.3B | $735.9M | ||
| Q3 24 | $1.1B | $748.9M | ||
| Q2 24 | $1.1B | $714.9M | ||
| Q1 24 | $1.0B | $677.7M |
净利润LOGIUTHR
| Q4 25 | $251.0M | $364.3M | ||
| Q3 25 | $170.7M | $338.7M | ||
| Q2 25 | $146.0M | $309.5M | ||
| Q1 25 | $144.1M | $322.2M | ||
| Q4 24 | $200.1M | $301.3M | ||
| Q3 24 | $145.5M | $309.1M | ||
| Q2 24 | $141.8M | $278.1M | ||
| Q1 24 | $167.6M | $306.6M |
毛利率LOGIUTHR
| Q4 25 | 43.2% | 86.9% | ||
| Q3 25 | 43.4% | 87.4% | ||
| Q2 25 | 41.7% | 89.0% | ||
| Q1 25 | 43.1% | 88.4% | ||
| Q4 24 | 42.9% | 89.7% | ||
| Q3 24 | 43.6% | 88.9% | ||
| Q2 24 | 42.8% | 89.1% | ||
| Q1 24 | 43.2% | 89.2% |
营业利润率LOGIUTHR
| Q4 25 | 20.1% | 45.1% | ||
| Q3 25 | 16.1% | 48.6% | ||
| Q2 25 | 14.1% | 45.6% | ||
| Q1 25 | 10.5% | 48.2% | ||
| Q4 24 | 17.5% | 48.6% | ||
| Q3 24 | 14.4% | 45.8% | ||
| Q2 24 | 14.1% | 44.7% | ||
| Q1 24 | 12.9% | 52.6% |
净利率LOGIUTHR
| Q4 25 | 17.7% | 46.1% | ||
| Q3 25 | 14.4% | 42.4% | ||
| Q2 25 | 12.7% | 38.8% | ||
| Q1 25 | 14.3% | 40.6% | ||
| Q4 24 | 14.9% | 40.9% | ||
| Q3 24 | 13.0% | 41.3% | ||
| Q2 24 | 13.0% | 38.9% | ||
| Q1 24 | 16.6% | 45.2% |
每股收益（稀释后）LOGIUTHR
| Q4 25 | $1.69 | $7.66 | ||
| Q3 25 | $1.15 | $7.16 | ||
| Q2 25 | $0.98 | $6.41 | ||
| Q1 25 | $0.94 | $6.63 | ||
| Q4 24 | $1.32 | $6.23 | ||
| Q3 24 | $0.95 | $6.39 | ||
| Q2 24 | $0.92 | $5.85 | ||
| Q1 24 | $1.07 | $6.17 |
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 | $1.8B | $2.9B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.3B | $7.1B |
| 总资产 | $4.1B | $7.9B |
| 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LOGIUTHR
| Q4 25 | $1.8B | $2.9B | ||
| Q3 25 | $1.4B | $2.8B | ||
| Q2 25 | $1.5B | $3.0B | ||
| Q1 25 | $1.5B | $3.3B | ||
| Q4 24 | $1.5B | $3.3B | ||
| Q3 24 | $1.4B | $3.3B | ||
| Q2 24 | $1.5B | $3.0B | ||
| Q1 24 | $1.5B | $2.7B |
股东权益LOGIUTHR
| Q4 25 | $2.3B | $7.1B | ||
| Q3 25 | $2.1B | $6.6B | ||
| Q2 25 | $2.2B | $7.2B | ||
| Q1 25 | $2.1B | $6.8B | ||
| Q4 24 | $2.1B | $6.4B | ||
| Q3 24 | $2.1B | $6.1B | ||
| Q2 24 | $2.2B | $5.7B | ||
| Q1 24 | $2.2B | $5.3B |
总资产LOGIUTHR
| Q4 25 | $4.1B | $7.9B | ||
| Q3 25 | $3.7B | $7.4B | ||
| Q2 25 | $3.7B | $7.9B | ||
| Q1 25 | $3.5B | $7.7B | ||
| Q4 24 | $3.7B | $7.4B | ||
| Q3 24 | $3.6B | $7.1B | ||
| Q2 24 | $3.7B | $6.7B | ||
| Q1 24 | $3.6B | $6.5B |
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 | $480.5M | $346.2M |
| 自由现金流经营现金流 - 资本支出 | $465.6M | $173.3M |
| 自由现金流率自由现金流/营收 | 32.8% | 21.9% |
| 资本支出强度资本支出/营收 | 1.0% | 21.9% |
| 现金转化率经营现金流/净利润 | 1.91× | 0.95× |
| 过去12个月自由现金流最近4个季度 | $903.6M | $1.0B |
8季度趋势，按日历期对齐
经营现金流LOGIUTHR
| Q4 25 | $480.5M | $346.2M | ||
| Q3 25 | $228.8M | $562.1M | ||
| Q2 25 | $125.0M | $191.7M | ||
| Q1 25 | $129.7M | $461.2M | ||
| Q4 24 | $370.9M | $341.2M | ||
| Q3 24 | $166.0M | $377.2M | ||
| Q2 24 | $176.0M | $232.2M | ||
| Q1 24 | $239.1M | $376.5M |
自由现金流LOGIUTHR
| Q4 25 | $465.6M | $173.3M | ||
| Q3 25 | $212.3M | $351.6M | ||
| Q2 25 | $108.8M | $129.5M | ||
| Q1 25 | $116.9M | $386.3M | ||
| Q4 24 | $356.6M | $254.5M | ||
| Q3 24 | $151.5M | $300.7M | ||
| Q2 24 | $161.4M | $187.1M | ||
| Q1 24 | $228.8M | $338.3M |
自由现金流率LOGIUTHR
| Q4 25 | 32.8% | 21.9% | ||
| Q3 25 | 17.9% | 44.0% | ||
| Q2 25 | 9.5% | 16.2% | ||
| Q1 25 | 11.6% | 48.6% | ||
| Q4 24 | 26.6% | 34.6% | ||
| Q3 24 | 13.6% | 40.2% | ||
| Q2 24 | 14.8% | 26.2% | ||
| Q1 24 | 22.6% | 49.9% |
资本支出强度LOGIUTHR
| Q4 25 | 1.0% | 21.9% | ||
| Q3 25 | 1.4% | 26.3% | ||
| Q2 25 | 1.4% | 7.8% | ||
| Q1 25 | 1.3% | 9.4% | ||
| Q4 24 | 1.1% | 11.8% | ||
| Q3 24 | 1.3% | 10.2% | ||
| Q2 24 | 1.3% | 6.3% | ||
| Q1 24 | 1.0% | 5.6% |
现金转化率LOGIUTHR
| Q4 25 | 1.91× | 0.95× | ||
| Q3 25 | 1.34× | 1.66× | ||
| Q2 25 | 0.86× | 0.62× | ||
| Q1 25 | 0.90× | 1.43× | ||
| Q4 24 | 1.85× | 1.13× | ||
| Q3 24 | 1.14× | 1.22× | ||
| Q2 24 | 1.24× | 0.83× | ||
| Q1 24 | 1.43× | 1.23× |
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
LOGI
| Retail Gaming | $482.7M | 34% |
| Retail Keyboards Desktops | $254.6M | 18% |
| Retail Pointing Devices | $241.2M | 17% |
| Retail Video Collaboration | $193.3M | 14% |
| Retail Tablet And Other Accessories | $93.6M | 7% |
| Retail Webcams | $82.3M | 6% |
| Retail Headsets | $45.9M | 3% |
| Other Retail Products | $28.0M | 2% |
UTHR
| Tyvaso DPI | $338.6M | 43% |
| Remodulin | $128.0M | 16% |
| Nebulized Tyvaso | $125.7M | 16% |
| Orenitram | $121.2M | 15% |
| Unituxin | $62.3M | 8% |
| Adcirca | $7.8M | 1% |
| Other | $6.6M | 1% |
