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百济神州（ONC）与Paychex（PAYX）财务数据对比。点击上方公司名可切换其他公司
Paychex的季度营收约是百济神州的1.0倍（$1.5B vs $1.5B），Paychex净利率更高（26.3% vs 4.4%，领先21.9%），百济神州同比增速更快（32.8% vs 17.4%），Paychex自由现金流更多（$382.8M vs $379.8M），过去两年百济神州的营收复合增速更高（41.2% vs 3.8%）
BeOne Medicines（原百济神州）是一家跨国肿瘤领域制药企业，专注于癌症治疗创新药物的研发与商业化，致力于为全球癌症患者提供更有效、可及性更高的治疗方案，改善患者的生存质量与预后。
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。
ONC vs PAYX — 直观对比
营收规模更大
PAYX
是对方的1.0倍
$1.5B
营收增速更快
ONC
高出15.5%
17.4%
净利率更高
PAYX
高出21.9%
4.4%
自由现金流更多
PAYX
多$3.0M
$379.8M
两年增速更快
ONC
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.5B |
| 净利润 | $66.5M | $395.4M |
| 毛利率 | 90.5% | 72.6% |
| 营业利润率 | 12.4% | 38.0% |
| 净利率 | 4.4% | 26.3% |
| 营收同比 | 32.8% | 17.4% |
| 净利润同比 | 143.8% | -4.4% |
| 每股收益（稀释后） | $0.05 | $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ONCPAYX
| Q4 25 | $1.5B | $1.5B | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $1.3B | $1.4B | ||
| Q1 25 | $1.1B | $1.5B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.0B | $1.3B | ||
| Q2 24 | $929.2M | $1.3B | ||
| Q1 24 | $751.7M | $1.4B |
净利润ONCPAYX
| Q4 25 | $66.5M | $395.4M | ||
| Q3 25 | $124.8M | $383.8M | ||
| Q2 25 | $94.3M | $297.2M | ||
| Q1 25 | $1.3M | $519.3M | ||
| Q4 24 | $-151.9M | $413.4M | ||
| Q3 24 | $-121.3M | $427.4M | ||
| Q2 24 | $-120.4M | $379.9M | ||
| Q1 24 | $-251.2M | $498.6M |
毛利率ONCPAYX
| Q4 25 | 90.5% | 72.6% | ||
| Q3 25 | 86.1% | 72.3% | ||
| Q2 25 | 87.5% | 71.5% | ||
| Q1 25 | 85.2% | 73.6% | ||
| Q4 24 | 85.8% | 70.4% | ||
| Q3 24 | 83.0% | 70.3% | ||
| Q2 24 | 85.1% | 70.1% | ||
| Q1 24 | 83.4% | 72.8% |
营业利润率ONCPAYX
| Q4 25 | 12.4% | 38.0% | ||
| Q3 25 | 11.5% | 36.3% | ||
| Q2 25 | 6.7% | 31.2% | ||
| Q1 25 | 1.0% | 47.2% | ||
| Q4 24 | -7.0% | 42.0% | ||
| Q3 24 | -12.0% | 42.7% | ||
| Q2 24 | -11.5% | 38.3% | ||
| Q1 24 | -34.8% | 46.6% |
净利率ONCPAYX
| Q4 25 | 4.4% | 26.3% | ||
| Q3 25 | 8.8% | 25.7% | ||
| Q2 25 | 7.2% | 21.5% | ||
| Q1 25 | 0.1% | 35.4% | ||
| Q4 24 | -13.5% | 32.3% | ||
| Q3 24 | -12.1% | 33.4% | ||
| Q2 24 | -13.0% | 30.2% | ||
| Q1 24 | -33.4% | 35.7% |
每股收益（稀释后）ONCPAYX
| Q4 25 | $0.05 | $1.10 | ||
| Q3 25 | $0.08 | $1.06 | ||
| Q2 25 | $0.06 | $0.83 | ||
| Q1 25 | $0.00 | $1.43 | ||
| Q4 24 | $-0.10 | $1.14 | ||
| Q3 24 | $-0.09 | $1.18 | ||
| Q2 24 | $-0.09 | $1.05 | ||
| Q1 24 | $-0.19 | $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 | $4.5B | $1.5B |
| 总债务越低越好 | $836.4M | $5.0B |
| 股东权益账面价值 | $4.4B | $3.9B |
| 总资产 | $8.2B | $16.5B |
| 负债/权益比越低杠杆越低 | 0.19× | 1.28× |
8季度趋势，按日历期对齐
现金及短期投资ONCPAYX
| Q4 25 | $4.5B | $1.5B | ||
| Q3 25 | $4.0B | $1.7B | ||
| Q2 25 | $2.8B | $1.7B | ||
| Q1 25 | $2.5B | $1.6B | ||
| Q4 24 | $2.6B | $1.2B | ||
| Q3 24 | $2.7B | $1.5B | ||
| Q2 24 | $2.6B | $1.5B | ||
| Q1 24 | $2.8B | $1.7B |
总债务ONCPAYX
| Q4 25 | $836.4M | $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ONCPAYX
| Q4 25 | $4.4B | $3.9B | ||
| Q3 25 | $4.1B | $4.0B | ||
| Q2 25 | $3.8B | $4.1B | ||
| Q1 25 | $3.5B | $4.1B | ||
| Q4 24 | $3.3B | $3.9B | ||
| Q3 24 | $3.4B | $3.9B | ||
| Q2 24 | $3.4B | $3.8B | ||
| Q1 24 | $3.4B | $3.7B |
总资产ONCPAYX
| Q4 25 | $8.2B | $16.5B | ||
| Q3 25 | $7.6B | $16.7B | ||
| Q2 25 | $6.3B | $16.6B | ||
| Q1 25 | $5.8B | $11.2B | ||
| Q4 24 | $5.9B | $10.6B | ||
| Q3 24 | $5.8B | $10.5B | ||
| Q2 24 | $5.7B | $10.4B | ||
| Q1 24 | $5.7B | $13.0B |
负债/权益比ONCPAYX
| Q4 25 | 0.19× | 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 | $417.3M | $444.9M |
| 自由现金流经营现金流 - 资本支出 | $379.8M | $382.8M |
| 自由现金流率自由现金流/营收 | 25.4% | 25.5% |
| 资本支出强度资本支出/营收 | 2.5% | 4.1% |
| 现金转化率经营现金流/净利润 | 6.28× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $941.7M | $2.0B |
8季度趋势，按日历期对齐
经营现金流ONCPAYX
| Q4 25 | $417.3M | $444.9M | ||
| Q3 25 | $402.6M | $718.4M | ||
| Q2 25 | $263.6M | $343.8M | ||
| Q1 25 | $44.1M | $716.0M | ||
| Q4 24 | $75.2M | $295.0M | ||
| Q3 24 | $188.4M | $546.1M | ||
| Q2 24 | $-95.6M | $221.7M | ||
| Q1 24 | $-308.6M | $671.7M |
自由现金流ONCPAYX
| Q4 25 | $379.8M | $382.8M | ||
| Q3 25 | $354.5M | $662.5M | ||
| Q2 25 | $219.8M | $283.3M | ||
| Q1 25 | $-12.3M | $667.3M | ||
| Q4 24 | $-17.3M | $248.0M | ||
| Q3 24 | $54.7M | $510.5M | ||
| Q2 24 | $-205.5M | $180.4M | ||
| Q1 24 | $-465.1M | $631.0M |
自由现金流率ONCPAYX
| Q4 25 | 25.4% | 25.5% | ||
| Q3 25 | 25.1% | 44.4% | ||
| Q2 25 | 16.7% | 20.5% | ||
| Q1 25 | -1.1% | 45.5% | ||
| Q4 24 | -1.5% | 19.4% | ||
| Q3 24 | 5.5% | 39.9% | ||
| Q2 24 | -22.1% | 14.4% | ||
| Q1 24 | -61.9% | 45.2% |
资本支出强度ONCPAYX
| Q4 25 | 2.5% | 4.1% | ||
| Q3 25 | 3.4% | 3.7% | ||
| Q2 25 | 3.3% | 4.4% | ||
| Q1 25 | 5.0% | 3.3% | ||
| Q4 24 | 8.2% | 3.7% | ||
| Q3 24 | 13.3% | 2.8% | ||
| Q2 24 | 11.8% | 3.3% | ||
| Q1 24 | 20.8% | 2.9% |
现金转化率ONCPAYX
| Q4 25 | 6.28× | 1.13× | ||
| Q3 25 | 3.22× | 1.87× | ||
| Q2 25 | 2.79× | 1.16× | ||
| Q1 25 | 34.71× | 1.38× | ||
| Q4 24 | — | 0.71× | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | 0.58× | ||
| Q1 24 | — | 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
ONC
暂无分部数据
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
