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百济神州（ONC）与梯瓦制药（TEVA）财务数据对比。点击上方公司名可切换其他公司
梯瓦制药的季度营收约是百济神州的3.1倍（$4.7B vs $1.5B），梯瓦制药净利率更高（10.2% vs 4.4%，领先5.8%），百济神州同比增速更快（32.8% vs 11.4%），梯瓦制药自由现金流更多（$1.0B vs $379.8M），过去两年百济神州的营收复合增速更高（41.2% vs 11.1%）
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。
梯瓦制药工业有限公司是以色列跨国制药企业，核心业务聚焦仿制药研发生产，同时布局品牌药、药用活性成分（API）业务，也小范围开展合同生产服务及对外授权合作相关业务。
ONC vs TEVA — 直观对比
营收规模更大
TEVA
是对方的3.1倍
$1.5B
营收增速更快
ONC
高出21.4%
11.4%
净利率更高
TEVA
高出5.8%
4.4%
自由现金流更多
TEVA
多$636.2M
$379.8M
两年增速更快
ONC
近两年复合增速
11.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $4.7B |
| 净利润 | $66.5M | $481.0M |
| 毛利率 | 90.5% | 56.4% |
| 营业利润率 | 12.4% | 6.4% |
| 净利率 | 4.4% | 10.2% |
| 营收同比 | 32.8% | 11.4% |
| 净利润同比 | 143.8% | 321.7% |
| 每股收益（稀释后） | $0.05 | $0.42 |
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ONCTEVA
| Q4 25 | $1.5B | $4.7B | ||
| Q3 25 | $1.4B | $4.5B | ||
| Q2 25 | $1.3B | $4.2B | ||
| Q1 25 | $1.1B | $3.9B | ||
| Q4 24 | $1.1B | $4.2B | ||
| Q3 24 | $1.0B | $4.3B | ||
| Q2 24 | $929.2M | $4.2B | ||
| Q1 24 | $751.7M | $3.8B |
净利润ONCTEVA
| Q4 25 | $66.5M | $481.0M | ||
| Q3 25 | $124.8M | $433.0M | ||
| Q2 25 | $94.3M | $282.0M | ||
| Q1 25 | $1.3M | $214.0M | ||
| Q4 24 | $-151.9M | $-217.0M | ||
| Q3 24 | $-121.3M | $-437.0M | ||
| Q2 24 | $-120.4M | $-846.0M | ||
| Q1 24 | $-251.2M | $-139.0M |
毛利率ONCTEVA
| Q4 25 | 90.5% | 56.4% | ||
| Q3 25 | 86.1% | 51.4% | ||
| Q2 25 | 87.5% | 50.3% | ||
| Q1 25 | 85.2% | 48.2% | ||
| Q4 24 | 85.8% | 50.2% | ||
| Q3 24 | 83.0% | 49.6% | ||
| Q2 24 | 85.1% | 48.6% | ||
| Q1 24 | 83.4% | 46.4% |
营业利润率ONCTEVA
| Q4 25 | 12.4% | 6.4% | ||
| Q3 25 | 11.5% | 19.7% | ||
| Q2 25 | 6.7% | 10.9% | ||
| Q1 25 | 1.0% | 13.3% | ||
| Q4 24 | -7.0% | -0.7% | ||
| Q3 24 | -12.0% | -1.2% | ||
| Q2 24 | -11.5% | -0.1% | ||
| Q1 24 | -34.8% | -5.7% |
净利率ONCTEVA
| Q4 25 | 4.4% | 10.2% | ||
| Q3 25 | 8.8% | 9.7% | ||
| Q2 25 | 7.2% | 6.8% | ||
| Q1 25 | 0.1% | 5.5% | ||
| Q4 24 | -13.5% | -5.1% | ||
| Q3 24 | -12.1% | -10.1% | ||
| Q2 24 | -13.0% | -20.3% | ||
| Q1 24 | -33.4% | -3.6% |
每股收益（稀释后）ONCTEVA
| Q4 25 | $0.05 | $0.42 | ||
| Q3 25 | $0.08 | $0.37 | ||
| Q2 25 | $0.06 | $0.24 | ||
| Q1 25 | $0.00 | $0.18 | ||
| Q4 24 | $-0.10 | $-0.19 | ||
| Q3 24 | $-0.09 | $-0.39 | ||
| Q2 24 | $-0.09 | $-0.75 | ||
| Q1 24 | $-0.19 | $-0.12 |
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 | $3.6B |
| 总债务越低越好 | $836.4M | — |
| 股东权益账面价值 | $4.4B | $7.9B |
| 总资产 | $8.2B | $40.7B |
| 负债/权益比越低杠杆越低 | 0.19× | — |
8季度趋势，按日历期对齐
现金及短期投资ONCTEVA
| Q4 25 | $4.5B | $3.6B | ||
| Q3 25 | $4.0B | $2.2B | ||
| Q2 25 | $2.8B | $2.2B | ||
| Q1 25 | $2.5B | $1.7B | ||
| Q4 24 | $2.6B | $3.3B | ||
| Q3 24 | $2.7B | $3.3B | ||
| Q2 24 | $2.6B | $2.3B | ||
| Q1 24 | $2.8B | $3.0B |
总债务ONCTEVA
| Q4 25 | $836.4M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ONCTEVA
| Q4 25 | $4.4B | $7.9B | ||
| Q3 25 | $4.1B | $7.3B | ||
| Q2 25 | $3.8B | $6.8B | ||
| Q1 25 | $3.5B | $6.3B | ||
| Q4 24 | $3.3B | $5.4B | ||
| Q3 24 | $3.4B | $6.1B | ||
| Q2 24 | $3.4B | $6.4B | ||
| Q1 24 | $3.4B | $7.3B |
总资产ONCTEVA
| Q4 25 | $8.2B | $40.7B | ||
| Q3 25 | $7.6B | $39.9B | ||
| Q2 25 | $6.3B | $40.1B | ||
| Q1 25 | $5.8B | $38.4B | ||
| Q4 24 | $5.9B | $39.3B | ||
| Q3 24 | $5.8B | $41.8B | ||
| Q2 24 | $5.7B | $41.3B | ||
| Q1 24 | $5.7B | $42.8B |
负债/权益比ONCTEVA
| Q4 25 | 0.19× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $379.8M | $1.0B |
| 自由现金流率自由现金流/营收 | 25.4% | 21.6% |
| 资本支出强度资本支出/营收 | 2.5% | 3.0% |
| 现金转化率经营现金流/净利润 | 6.28× | 2.41× |
| 过去12个月自由现金流最近4个季度 | $941.7M | $1.1B |
8季度趋势，按日历期对齐
经营现金流ONCTEVA
| Q4 25 | $417.3M | $1.2B | ||
| Q3 25 | $402.6M | $369.0M | ||
| Q2 25 | $263.6M | $227.0M | ||
| Q1 25 | $44.1M | $-105.0M | ||
| Q4 24 | $75.2M | $575.0M | ||
| Q3 24 | $188.4M | $693.0M | ||
| Q2 24 | $-95.6M | $103.0M | ||
| Q1 24 | $-308.6M | $-124.0M |
自由现金流ONCTEVA
| Q4 25 | $379.8M | $1.0B | ||
| Q3 25 | $354.5M | $233.0M | ||
| Q2 25 | $219.8M | $131.0M | ||
| Q1 25 | $-12.3M | $-232.0M | ||
| Q4 24 | $-17.3M | $446.0M | ||
| Q3 24 | $54.7M | $545.0M | ||
| Q2 24 | $-205.5M | $6.0M | ||
| Q1 24 | $-465.1M | $-248.0M |
自由现金流率ONCTEVA
| Q4 25 | 25.4% | 21.6% | ||
| Q3 25 | 25.1% | 5.2% | ||
| Q2 25 | 16.7% | 3.1% | ||
| Q1 25 | -1.1% | -6.0% | ||
| Q4 24 | -1.5% | 10.5% | ||
| Q3 24 | 5.5% | 12.6% | ||
| Q2 24 | -22.1% | 0.1% | ||
| Q1 24 | -61.9% | -6.5% |
资本支出强度ONCTEVA
| Q4 25 | 2.5% | 3.0% | ||
| Q3 25 | 3.4% | 3.0% | ||
| Q2 25 | 3.3% | 2.3% | ||
| Q1 25 | 5.0% | 3.3% | ||
| Q4 24 | 8.2% | 3.1% | ||
| Q3 24 | 13.3% | 3.4% | ||
| Q2 24 | 11.8% | 2.3% | ||
| Q1 24 | 20.8% | 3.2% |
现金转化率ONCTEVA
| Q4 25 | 6.28× | 2.41× | ||
| Q3 25 | 3.22× | 0.85× | ||
| Q2 25 | 2.79× | 0.80× | ||
| Q1 25 | 34.71× | -0.49× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
TEVA
| Other | $2.0B | 42% |
| Generics Medicians Including Otc And Biosimilars | $672.0M | 14% |
| Other Products | $608.0M | 13% |
| License | $529.0M | 11% |
| Distribution Service | $366.0M | 8% |
| Other Activities | $227.0M | 5% |
| Ajovy | $106.0M | 2% |
| COPAXONE | $77.0M | 2% |
| Respiratory Product | $65.0M | 1% |
| Uzedy | $55.0M | 1% |
| Bendeka And Treanda | $36.0M | 1% |
