vs
如新（NUS）与Royalty Pharma plc（RPRX）财务数据对比。点击上方公司名可切换其他公司
Royalty Pharma plc的季度营收约是如新的1.7倍（$622.0M vs $370.3M），Royalty Pharma plc净利率更高（34.4% vs 3.9%，领先30.5%），Royalty Pharma plc同比增速更快（4.8% vs -16.9%），过去两年Royalty Pharma plc的营收复合增速更高（4.6% vs -5.8%）
如新企业集团是一家美国多层次直销企业，主打研发并销售个人护理产品与营养膳食补充产品，旗下拥有Nu Skin及Pharmanex两大品牌，目前已在全球54个市场开展业务，依托约120万独立销售代表的销售网络覆盖全球市场。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
NUS vs RPRX — 直观对比
营收规模更大
RPRX
是对方的1.7倍
$370.3M
营收增速更快
RPRX
高出21.7%
-16.9%
净利率更高
RPRX
高出30.5%
3.9%
两年增速更快
RPRX
近两年复合增速
-5.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $370.3M | $622.0M |
| 净利润 | $14.5M | $214.2M |
| 毛利率 | 70.7% | — |
| 营业利润率 | 6.3% | 62.4% |
| 净利率 | 3.9% | 34.4% |
| 营收同比 | -16.9% | 4.8% |
| 净利润同比 | 140.1% | 2.9% |
| 每股收益（稀释后） | $0.27 | $0.49 |
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NUSRPRX
| Q4 25 | $370.3M | $622.0M | ||
| Q3 25 | $364.2M | $609.3M | ||
| Q2 25 | $386.1M | $578.7M | ||
| Q1 25 | $364.5M | $568.2M | ||
| Q4 24 | $445.6M | $593.6M | ||
| Q3 24 | $430.1M | $564.7M | ||
| Q2 24 | $439.1M | $537.3M | ||
| Q1 24 | $417.3M | $568.0M |
净利润NUSRPRX
| Q4 25 | $14.5M | $214.2M | ||
| Q3 25 | $17.1M | $288.2M | ||
| Q2 25 | $21.1M | $30.2M | ||
| Q1 25 | $107.5M | $238.3M | ||
| Q4 24 | $-36.1M | $208.2M | ||
| Q3 24 | $8.3M | $544.0M | ||
| Q2 24 | $-118.3M | $102.0M | ||
| Q1 24 | $-533.0K | $4.8M |
毛利率NUSRPRX
| Q4 25 | 70.7% | — | ||
| Q3 25 | 70.5% | — | ||
| Q2 25 | 68.8% | — | ||
| Q1 25 | 67.8% | — | ||
| Q4 24 | 62.7% | — | ||
| Q3 24 | 70.1% | — | ||
| Q2 24 | 70.0% | — | ||
| Q1 24 | 70.5% | — |
营业利润率NUSRPRX
| Q4 25 | 6.3% | 62.4% | ||
| Q3 25 | 5.9% | 70.1% | ||
| Q2 25 | 8.0% | 36.3% | ||
| Q1 25 | -2.7% | 94.0% | ||
| Q4 24 | -11.9% | 60.9% | ||
| Q3 24 | 4.2% | — | ||
| Q2 24 | -28.6% | 50.2% | ||
| Q1 24 | 2.1% | -13.0% |
净利率NUSRPRX
| Q4 25 | 3.9% | 34.4% | ||
| Q3 25 | 4.7% | 47.3% | ||
| Q2 25 | 5.5% | 5.2% | ||
| Q1 25 | 29.5% | 41.9% | ||
| Q4 24 | -8.1% | 35.1% | ||
| Q3 24 | 1.9% | 96.3% | ||
| Q2 24 | -26.9% | 19.0% | ||
| Q1 24 | -0.1% | 0.8% |
每股收益（稀释后）NUSRPRX
| Q4 25 | $0.27 | $0.49 | ||
| Q3 25 | $0.34 | $0.67 | ||
| Q2 25 | $0.43 | $0.07 | ||
| Q1 25 | $2.14 | $0.55 | ||
| Q4 24 | $-0.73 | $0.46 | ||
| Q3 24 | $0.17 | $1.21 | ||
| Q2 24 | $-2.38 | $0.23 | ||
| Q1 24 | $-0.01 | $0.01 |
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 | $239.8M | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $805.2M | $9.7B |
| 总资产 | $1.4B | $19.6B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资NUSRPRX
| Q4 25 | $239.8M | $618.7M | ||
| Q3 25 | $253.0M | $938.9M | ||
| Q2 25 | $265.4M | $631.9M | ||
| Q1 25 | $213.6M | $1.1B | ||
| Q4 24 | $198.0M | $929.0M | ||
| Q3 24 | $237.8M | $950.1M | ||
| Q2 24 | $232.9M | $1.8B | ||
| Q1 24 | $221.2M | $843.0M |
总债务NUSRPRX
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $6.1B |
股东权益NUSRPRX
| Q4 25 | $805.2M | $9.7B | ||
| Q3 25 | $799.8M | $9.6B | ||
| Q2 25 | $787.8M | $9.5B | ||
| Q1 25 | $754.0M | $9.8B | ||
| Q4 24 | $651.5M | $10.3B | ||
| Q3 24 | $706.9M | $10.3B | ||
| Q2 24 | $686.2M | $9.8B | ||
| Q1 24 | $810.2M | $9.9B |
总资产NUSRPRX
| Q4 25 | $1.4B | $19.6B | ||
| Q3 25 | $1.4B | $19.3B | ||
| Q2 25 | $1.4B | $18.3B | ||
| Q1 25 | $1.4B | $17.6B | ||
| Q4 24 | $1.5B | $18.2B | ||
| Q3 24 | $1.6B | $18.0B | ||
| Q2 24 | $1.6B | $17.7B | ||
| Q1 24 | $1.7B | $16.1B |
负债/权益比NUSRPRX
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $16.6M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $5.9M | — |
| 自由现金流率自由现金流/营收 | 1.6% | — |
| 资本支出强度资本支出/营收 | 2.9% | — |
| 现金转化率经营现金流/净利润 | 1.15× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $46.0M | — |
8季度趋势，按日历期对齐
经营现金流NUSRPRX
| Q4 25 | $16.6M | $827.1M | ||
| Q3 25 | $27.5M | $702.6M | ||
| Q2 25 | $35.8M | $364.0M | ||
| Q1 25 | $389.0K | $596.1M | ||
| Q4 24 | $25.8M | $742.5M | ||
| Q3 24 | $31.4M | $703.6M | ||
| Q2 24 | $51.2M | $658.2M | ||
| Q1 24 | $3.3M | $664.6M |
自由现金流NUSRPRX
| Q4 25 | $5.9M | — | ||
| Q3 25 | $17.6M | — | ||
| Q2 25 | $35.8M | — | ||
| Q1 25 | $-13.2M | — | ||
| Q4 24 | $13.2M | — | ||
| Q3 24 | $22.8M | — | ||
| Q2 24 | $43.1M | — | ||
| Q1 24 | $-9.0M | — |
自由现金流率NUSRPRX
| Q4 25 | 1.6% | — | ||
| Q3 25 | 4.8% | — | ||
| Q2 25 | 9.3% | — | ||
| Q1 25 | -3.6% | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 5.3% | — | ||
| Q2 24 | 9.8% | — | ||
| Q1 24 | -2.1% | — |
资本支出强度NUSRPRX
| Q4 25 | 2.9% | — | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 2.0% | — | ||
| Q2 24 | 1.9% | — | ||
| Q1 24 | 2.9% | — |
现金转化率NUSRPRX
| Q4 25 | 1.15× | 3.86× | ||
| Q3 25 | 1.61× | 2.44× | ||
| Q2 25 | 1.69× | 12.06× | ||
| Q1 25 | 0.00× | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | 3.79× | 1.29× | ||
| Q2 24 | — | 6.45× | ||
| Q1 24 | — | 139.10× |
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
NUS
| Other | $161.9M | 44% |
| Mainland China Segment | $52.0M | 14% |
| Southeast Asia Pacific Segment | $50.5M | 14% |
| Europe And Africa Segment | $41.8M | 11% |
| Hong Kong Taiwan Segment | $29.6M | 8% |
| South Korea Segment | $28.4M | 8% |
| Rhyz Other Segment | $6.1M | 2% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
