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默沙东（MRK）与RYDER SYSTEM INC（R）财务数据对比。点击上方公司名可切换其他公司
默沙东的季度营收约是RYDER SYSTEM INC的1.3倍（$16.4B vs $13.1B），默沙东净利率更高（18.1% vs 0.7%，领先17.4%），默沙东同比增速更快（5.0% vs 1.0%），默沙东自由现金流更多（$1.8B vs $273.0M），过去两年RYDER SYSTEM INC的营收复合增速更高（102.9% vs 2.0%）
默沙东是总部位于美国新泽西州拉威的跨国制药企业，在美国及加拿大境外通常以默沙东（MSD）名义开展业务，按营收规模位列全球生物医学企业第四名，在制药领域拥有领先的技术实力与市场影响力。
Ryder System Inc.是美国专业运输物流服务商，总部位于佛罗里达州科勒尔盖布尔斯，业务覆盖美国及英国，核心业务包含卡车租赁、车队管理、供应链及运输管理，同时提供车辆维保、二手车销售、专业司机派遣、电商履约与最后一公里配送等多元服务。
MRK vs R — 直观对比
营收规模更大
MRK
是对方的1.3倍
$13.1B
营收增速更快
MRK
高出4.0%
1.0%
净利率更高
MRK
高出17.4%
0.7%
自由现金流更多
MRK
多$1.6B
$273.0M
两年增速更快
R
近两年复合增速
2.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $16.4B | $13.1B |
| 净利润 | $3.0B | $93.0M |
| 毛利率 | 66.2% | — |
| 营业利润率 | 20.9% | — |
| 净利率 | 18.1% | 0.7% |
| 营收同比 | 5.0% | 1.0% |
| 净利润同比 | -20.8% | -5.1% |
| 每股收益（稀释后） | $1.19 | $2.34 |
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MRKR
| Q1 26 | — | $13.1B | ||
| Q4 25 | $16.4B | $3.2B | ||
| Q3 25 | $17.3B | $3.2B | ||
| Q2 25 | $15.8B | $3.2B | ||
| Q1 25 | $15.5B | $3.1B | ||
| Q4 24 | $15.6B | $3.2B | ||
| Q3 24 | $16.7B | $3.2B | ||
| Q2 24 | $16.1B | $3.2B |
净利润MRKR
| Q1 26 | — | $93.0M | ||
| Q4 25 | $3.0B | $132.0M | ||
| Q3 25 | $5.8B | $138.0M | ||
| Q2 25 | $4.4B | $131.0M | ||
| Q1 25 | $5.1B | $98.0M | ||
| Q4 24 | $3.7B | $135.0M | ||
| Q3 24 | $3.2B | $142.0M | ||
| Q2 24 | $5.5B | $127.0M |
毛利率MRKR
| Q1 26 | — | — | ||
| Q4 25 | 66.2% | — | ||
| Q3 25 | 77.7% | — | ||
| Q2 25 | 77.5% | — | ||
| Q1 25 | 78.0% | — | ||
| Q4 24 | 75.5% | — | ||
| Q3 24 | 75.5% | — | ||
| Q2 24 | 76.8% | — |
营业利润率MRKR
| Q1 26 | — | — | ||
| Q4 25 | 20.9% | 5.6% | ||
| Q3 25 | 39.0% | 6.0% | ||
| Q2 25 | 31.6% | 5.8% | ||
| Q1 25 | 38.0% | 4.3% | ||
| Q4 24 | 26.7% | 5.7% | ||
| Q3 24 | 24.6% | 5.9% | ||
| Q2 24 | 37.3% | 5.6% |
净利率MRKR
| Q1 26 | — | 0.7% | ||
| Q4 25 | 18.1% | 4.2% | ||
| Q3 25 | 33.5% | 4.4% | ||
| Q2 25 | 28.0% | 4.1% | ||
| Q1 25 | 32.7% | 3.1% | ||
| Q4 24 | 24.0% | 4.2% | ||
| Q3 24 | 19.0% | 4.5% | ||
| Q2 24 | 33.9% | 4.0% |
每股收益（稀释后）MRKR
| Q1 26 | — | $2.34 | ||
| Q4 25 | $1.19 | $3.22 | ||
| Q3 25 | $2.32 | $3.32 | ||
| Q2 25 | $1.76 | $3.13 | ||
| Q1 25 | $2.01 | $2.27 | ||
| Q4 24 | $1.49 | $3.09 | ||
| Q3 24 | $1.24 | $3.24 | ||
| Q2 24 | $2.14 | $2.84 |
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 | $14.6B | $182.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $52.6B | $2.9B |
| 总资产 | $136.9B | — |
| 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MRKR
| Q1 26 | — | $182.0M | ||
| Q4 25 | $14.6B | $198.0M | ||
| Q3 25 | $18.2B | $189.0M | ||
| Q2 25 | $8.6B | $180.0M | ||
| Q1 25 | $9.2B | $151.0M | ||
| Q4 24 | $13.7B | $154.0M | ||
| Q3 24 | $14.6B | $162.0M | ||
| Q2 24 | $11.4B | $164.0M |
总债务MRKR
| Q1 26 | — | — | ||
| Q4 25 | — | $6.8B | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $7.0B | ||
| Q1 25 | — | $6.7B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | — | $6.6B | ||
| Q2 24 | — | $6.5B |
股东权益MRKR
| Q1 26 | — | $2.9B | ||
| Q4 25 | $52.6B | $3.1B | ||
| Q3 25 | $51.9B | $3.1B | ||
| Q2 25 | $49.0B | $3.1B | ||
| Q1 25 | $48.3B | $3.0B | ||
| Q4 24 | $46.3B | $3.1B | ||
| Q3 24 | $44.5B | $3.1B | ||
| Q2 24 | $43.6B | $3.1B |
总资产MRKR
| Q1 26 | — | — | ||
| Q4 25 | $136.9B | $16.4B | ||
| Q3 25 | $129.5B | $16.5B | ||
| Q2 25 | $117.5B | $16.5B | ||
| Q1 25 | $115.1B | $16.4B | ||
| Q4 24 | $117.1B | $16.7B | ||
| Q3 24 | $117.5B | $16.5B | ||
| Q2 24 | $112.6B | $16.4B |
负债/权益比MRKR
| Q1 26 | — | — | ||
| Q4 25 | — | 2.24× | ||
| Q3 25 | — | 2.35× | ||
| Q2 25 | — | 2.27× | ||
| Q1 25 | — | 2.21× | ||
| Q4 24 | — | 2.14× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | — | 2.09× |
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 | $2.9B | $583.0M |
| 自由现金流经营现金流 - 资本支出 | $1.8B | $273.0M |
| 自由现金流率自由现金流/营收 | 11.1% | 2.1% |
| 资本支出强度资本支出/营收 | 6.3% | 3.3% |
| 现金转化率经营现金流/净利润 | 0.96× | 6.27× |
| 过去12个月自由现金流最近4个季度 | $12.4B | $595.0M |
8季度趋势，按日历期对齐
经营现金流MRKR
| Q1 26 | — | $583.0M | ||
| Q4 25 | $2.9B | $749.0M | ||
| Q3 25 | $7.8B | $442.0M | ||
| Q2 25 | $3.3B | $752.0M | ||
| Q1 25 | $2.5B | $651.0M | ||
| Q4 24 | $3.5B | $558.0M | ||
| Q3 24 | $9.3B | $629.0M | ||
| Q2 24 | $5.6B | $552.0M |
自由现金流MRKR
| Q1 26 | — | $273.0M | ||
| Q4 25 | $1.8B | $344.0M | ||
| Q3 25 | $6.8B | $-85.0M | ||
| Q2 25 | $2.5B | $63.0M | ||
| Q1 25 | $1.2B | $137.0M | ||
| Q4 24 | $2.5B | $-201.0M | ||
| Q3 24 | $8.5B | $30.0M | ||
| Q2 24 | $4.8B | $-87.0M |
自由现金流率MRKR
| Q1 26 | — | 2.1% | ||
| Q4 25 | 11.1% | 10.8% | ||
| Q3 25 | 39.6% | -2.7% | ||
| Q2 25 | 16.0% | 2.0% | ||
| Q1 25 | 7.5% | 4.4% | ||
| Q4 24 | 16.1% | -6.3% | ||
| Q3 24 | 51.1% | 0.9% | ||
| Q2 24 | 30.1% | -2.7% |
资本支出强度MRKR
| Q1 26 | — | 3.3% | ||
| Q4 25 | 6.3% | 12.8% | ||
| Q3 25 | 5.7% | 16.6% | ||
| Q2 25 | 4.8% | 21.6% | ||
| Q1 25 | 8.6% | 16.4% | ||
| Q4 24 | 6.0% | 23.8% | ||
| Q3 24 | 4.7% | 18.9% | ||
| Q2 24 | 4.9% | 20.1% |
现金转化率MRKR
| Q1 26 | — | 6.27× | ||
| Q4 25 | 0.96× | 5.67× | ||
| Q3 25 | 1.35× | 3.20× | ||
| Q2 25 | 0.74× | 5.74× | ||
| Q1 25 | 0.49× | 6.64× | ||
| Q4 24 | 0.92× | 4.13× | ||
| Q3 24 | 2.94× | 4.43× | ||
| Q2 24 | 1.03× | 4.35× |
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
MRK
| Pharmaceuticalsegment | $8.7B | 53% |
| Keytruda | $4.9B | 30% |
| Other | $2.7B | 16% |
| Janumet | $57.0M | 0% |
| Isentress Isentress HD | $38.0M | 0% |
| Pifeltro | $25.0M | 0% |
| Belsomra | $23.0M | 0% |
| Dificid | $17.0M | 0% |
| Delstrigo | $14.0M | 0% |
| Lagevrio | $12.0M | 0% |
| Pneumovax23 | $4.0M | 0% |
R
暂无分部数据
