vs
NEUROCRINE BIOSCIENCES INC（NBIX）与Paychex（PAYX）财务数据对比。点击上方公司名可切换其他公司
Paychex的季度营收约是NEUROCRINE BIOSCIENCES INC的1.9倍（$1.5B vs $805.5M），Paychex净利率更高（26.3% vs 19.1%，领先7.2%），NEUROCRINE BIOSCIENCES INC同比增速更快（28.3% vs 17.4%），NEUROCRINE BIOSCIENCES INC自由现金流更多（$386.0M vs $382.8M），过去两年NEUROCRINE BIOSCIENCES INC的营收复合增速更高（25.0% vs 3.8%）
Neurocrine Biosciences是1992年成立的美国生物制药企业，总部位于加利福尼亚州圣地亚哥，截至2024年10月首席执行官为Kyle Gano。公司专注于神经及内分泌相关疾病的疗法研发，旗下药物缬苯那嗪（商品名Ingrezza）于2017年获美国批准，用于治疗成人迟发性运动障碍。
Paychex是美国知名人力资源服务提供商，1971年成立，总部位于纽约州罗切斯特，面向中小微企业提供薪资管理、人力资源外包、员工福利外包等服务。目前在美欧地区拥有超100个办事处，服务约80万家薪资客户，位列《财富》500强第681位。
NBIX vs PAYX — 直观对比
营收规模更大
PAYX
是对方的1.9倍
$805.5M
营收增速更快
NBIX
高出11.0%
17.4%
净利率更高
PAYX
高出7.2%
19.1%
自由现金流更多
NBIX
多$3.2M
$382.8M
两年增速更快
NBIX
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $805.5M | $1.5B |
| 净利润 | $153.7M | $395.4M |
| 毛利率 | 97.8% | 72.6% |
| 营业利润率 | 26.2% | 38.0% |
| 净利率 | 19.1% | 26.3% |
| 营收同比 | 28.3% | 17.4% |
| 净利润同比 | 49.1% | -4.4% |
| 每股收益（稀释后） | $1.49 | $1.10 |
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NBIXPAYX
| Q4 25 | $805.5M | $1.5B | ||
| Q3 25 | $794.9M | $1.5B | ||
| Q2 25 | $687.5M | $1.4B | ||
| Q1 25 | $572.6M | $1.5B | ||
| Q4 24 | $627.7M | $1.3B | ||
| Q3 24 | $622.1M | $1.3B | ||
| Q2 24 | $590.2M | $1.3B | ||
| Q1 24 | $515.3M | $1.4B |
净利润NBIXPAYX
| Q4 25 | $153.7M | $395.4M | ||
| Q3 25 | $209.5M | $383.8M | ||
| Q2 25 | $107.5M | $297.2M | ||
| Q1 25 | $7.9M | $519.3M | ||
| Q4 24 | $103.1M | $413.4M | ||
| Q3 24 | $129.8M | $427.4M | ||
| Q2 24 | $65.0M | $379.9M | ||
| Q1 24 | $43.4M | $498.6M |
毛利率NBIXPAYX
| Q4 25 | 97.8% | 72.6% | ||
| Q3 25 | 98.2% | 72.3% | ||
| Q2 25 | 98.4% | 71.5% | ||
| Q1 25 | 98.4% | 73.6% | ||
| Q4 24 | 98.5% | 70.4% | ||
| Q3 24 | 98.7% | 70.3% | ||
| Q2 24 | 98.4% | 70.1% | ||
| Q1 24 | 98.5% | 72.8% |
营业利润率NBIXPAYX
| Q4 25 | 26.2% | 38.0% | ||
| Q3 25 | 30.1% | 36.3% | ||
| Q2 25 | 21.2% | 31.2% | ||
| Q1 25 | 4.1% | 47.2% | ||
| Q4 24 | 22.6% | 42.0% | ||
| Q3 24 | 29.5% | 42.7% | ||
| Q2 24 | 24.6% | 38.3% | ||
| Q1 24 | 19.3% | 46.6% |
净利率NBIXPAYX
| Q4 25 | 19.1% | 26.3% | ||
| Q3 25 | 26.4% | 25.7% | ||
| Q2 25 | 15.6% | 21.5% | ||
| Q1 25 | 1.4% | 35.4% | ||
| Q4 24 | 16.4% | 32.3% | ||
| Q3 24 | 20.9% | 33.4% | ||
| Q2 24 | 11.0% | 30.2% | ||
| Q1 24 | 8.4% | 35.7% |
每股收益（稀释后）NBIXPAYX
| Q4 25 | $1.49 | $1.10 | ||
| Q3 25 | $2.04 | $1.06 | ||
| Q2 25 | $1.06 | $0.83 | ||
| Q1 25 | $0.08 | $1.43 | ||
| Q4 24 | $1.00 | $1.14 | ||
| Q3 24 | $1.24 | $1.18 | ||
| Q2 24 | $0.63 | $1.05 | ||
| Q1 24 | $0.42 | $1.38 |
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 | $713.0M | $1.5B |
| 总债务越低越好 | — | $5.0B |
| 股东权益账面价值 | $3.3B | $3.9B |
| 总资产 | $4.6B | $16.5B |
| 负债/权益比越低杠杆越低 | — | 1.28× |
8季度趋势，按日历期对齐
现金及短期投资NBIXPAYX
| Q4 25 | $713.0M | $1.5B | ||
| Q3 25 | $340.2M | $1.7B | ||
| Q2 25 | $264.0M | $1.7B | ||
| Q1 25 | $194.1M | $1.6B | ||
| Q4 24 | $233.0M | $1.2B | ||
| Q3 24 | $349.1M | $1.5B | ||
| Q2 24 | $139.7M | $1.5B | ||
| Q1 24 | $396.3M | $1.7B |
总债务NBIXPAYX
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $4.9B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $798.6M | ||
| Q1 24 | — | — |
股东权益NBIXPAYX
| Q4 25 | $3.3B | $3.9B | ||
| Q3 25 | $3.0B | $4.0B | ||
| Q2 25 | $2.7B | $4.1B | ||
| Q1 25 | $2.5B | $4.1B | ||
| Q4 24 | $2.6B | $3.9B | ||
| Q3 24 | $2.7B | $3.9B | ||
| Q2 24 | $2.5B | $3.8B | ||
| Q1 24 | $2.4B | $3.7B |
总资产NBIXPAYX
| Q4 25 | $4.6B | $16.5B | ||
| Q3 25 | $4.3B | $16.7B | ||
| Q2 25 | $3.9B | $16.6B | ||
| Q1 25 | $3.7B | $11.2B | ||
| Q4 24 | $3.7B | $10.6B | ||
| Q3 24 | $3.5B | $10.5B | ||
| Q2 24 | $3.3B | $10.4B | ||
| Q1 24 | $3.5B | $13.0B |
负债/权益比NBIXPAYX
| Q4 25 | — | 1.28× | ||
| Q3 25 | — | 1.25× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.21× | ||
| 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 | $388.4M | $444.9M |
| 自由现金流经营现金流 - 资本支出 | $386.0M | $382.8M |
| 自由现金流率自由现金流/营收 | 47.9% | 25.5% |
| 资本支出强度资本支出/营收 | 0.3% | 4.1% |
| 现金转化率经营现金流/净利润 | 2.53× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $743.9M | $2.0B |
8季度趋势，按日历期对齐
经营现金流NBIXPAYX
| Q4 25 | $388.4M | $444.9M | ||
| Q3 25 | $227.5M | $718.4M | ||
| Q2 25 | $102.0M | $343.8M | ||
| Q1 25 | $64.8M | $716.0M | ||
| Q4 24 | $242.5M | $295.0M | ||
| Q3 24 | $158.0M | $546.1M | ||
| Q2 24 | $64.6M | $221.7M | ||
| Q1 24 | $130.3M | $671.7M |
自由现金流NBIXPAYX
| Q4 25 | $386.0M | $382.8M | ||
| Q3 25 | $214.3M | $662.5M | ||
| Q2 25 | $89.5M | $283.3M | ||
| Q1 25 | $54.1M | $667.3M | ||
| Q4 24 | $235.2M | $248.0M | ||
| Q3 24 | $149.9M | $510.5M | ||
| Q2 24 | $53.0M | $180.4M | ||
| Q1 24 | $119.1M | $631.0M |
自由现金流率NBIXPAYX
| Q4 25 | 47.9% | 25.5% | ||
| Q3 25 | 27.0% | 44.4% | ||
| Q2 25 | 13.0% | 20.5% | ||
| Q1 25 | 9.4% | 45.5% | ||
| Q4 24 | 37.5% | 19.4% | ||
| Q3 24 | 24.1% | 39.9% | ||
| Q2 24 | 9.0% | 14.4% | ||
| Q1 24 | 23.1% | 45.2% |
资本支出强度NBIXPAYX
| Q4 25 | 0.3% | 4.1% | ||
| Q3 25 | 1.7% | 3.7% | ||
| Q2 25 | 1.8% | 4.4% | ||
| Q1 25 | 1.9% | 3.3% | ||
| Q4 24 | 1.2% | 3.7% | ||
| Q3 24 | 1.3% | 2.8% | ||
| Q2 24 | 2.0% | 3.3% | ||
| Q1 24 | 2.2% | 2.9% |
现金转化率NBIXPAYX
| Q4 25 | 2.53× | 1.13× | ||
| Q3 25 | 1.09× | 1.87× | ||
| Q2 25 | 0.95× | 1.16× | ||
| Q1 25 | 8.20× | 1.38× | ||
| Q4 24 | 2.35× | 0.71× | ||
| Q3 24 | 1.22× | 1.28× | ||
| Q2 24 | 0.99× | 0.58× | ||
| Q1 24 | 3.00× | 1.35× |
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
NBIX
| INGREZZA Net Product Sales | $653.8M | 81% |
| CRENESSITY Net Product Sales | $135.4M | 17% |
| Other Income | $12.6M | 2% |
| Collaboration Revenue | $7.2M | 1% |
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
