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辉瑞（PFE）与泰森食品（TSN）财务数据对比。点击上方公司名可切换其他公司
辉瑞的季度营收约是泰森食品的1.2倍（$17.6B vs $14.3B），泰森食品净利率更高（0.6% vs -9.4%，领先10.0%），泰森食品同比增速更快（5.1% vs -1.2%），辉瑞自由现金流更多（$4.5B vs $690.0M），过去两年辉瑞的营收复合增速更高（8.6% vs 4.6%）
辉瑞是总部位于美国纽约曼哈顿The Spiral的跨国制药及生物技术企业，由德国企业家查尔斯·辉瑞与查尔斯·F·埃尔哈特于1849年在纽约创立，是北美地区历史最悠久的制药企业之一，在全球医药健康领域拥有较高的行业影响力。
泰森食品是总部位于美国阿肯色州斯普林代尔的跨国食品企业，是仅次于JBS的全球第二大鸡肉、牛肉、猪肉加工销售商，同时是美国规模最大的肉类企业，常年位居美国牛肉出口占比首位，旗下运营泰森、Jimmy Dean、Hillshire Farm等多个知名食品品牌。
PFE vs TSN — 直观对比
营收规模更大
PFE
是对方的1.2倍
$14.3B
营收增速更快
TSN
高出6.2%
-1.2%
净利率更高
TSN
高出10.0%
-9.4%
自由现金流更多
PFE
多$3.8B
$690.0M
两年增速更快
PFE
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $17.6B | $14.3B |
| 净利润 | $-1.6B | $85.0M |
| 毛利率 | 70.0% | 5.6% |
| 营业利润率 | -9.4% | 2.1% |
| 净利率 | -9.4% | 0.6% |
| 营收同比 | -1.2% | 5.1% |
| 净利润同比 | -501.7% | -76.3% |
| 每股收益（稀释后） | $-0.29 | $0.24 |
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PFETSN
| Q4 25 | $17.6B | $14.3B | ||
| Q3 25 | $16.7B | $13.9B | ||
| Q2 25 | $14.7B | $13.9B | ||
| Q1 25 | $13.7B | $13.1B | ||
| Q4 24 | $17.8B | $13.6B | ||
| Q3 24 | $17.7B | $13.6B | ||
| Q2 24 | $13.3B | $13.4B | ||
| Q1 24 | $14.9B | $13.1B |
净利润PFETSN
| Q4 25 | $-1.6B | $85.0M | ||
| Q3 25 | $3.5B | $47.0M | ||
| Q2 25 | $2.9B | $61.0M | ||
| Q1 25 | $3.0B | $7.0M | ||
| Q4 24 | $410.0M | $359.0M | ||
| Q3 24 | $4.5B | $357.0M | ||
| Q2 24 | $41.0M | $191.0M | ||
| Q1 24 | $3.1B | $145.0M |
毛利率PFETSN
| Q4 25 | 70.0% | 5.6% | ||
| Q3 25 | 74.9% | 5.2% | ||
| Q2 25 | 74.2% | 8.2% | ||
| Q1 25 | 79.3% | 4.6% | ||
| Q4 24 | 66.7% | 8.0% | ||
| Q3 24 | 70.3% | 7.8% | ||
| Q2 24 | 75.2% | 6.6% | ||
| Q1 24 | 77.3% | 6.6% |
营业利润率PFETSN
| Q4 25 | -9.4% | 2.1% | ||
| Q3 25 | 20.0% | 1.1% | ||
| Q2 25 | 20.8% | 1.9% | ||
| Q1 25 | 20.3% | 0.8% | ||
| Q4 24 | -0.1% | 4.3% | ||
| Q3 24 | 26.6% | 3.9% | ||
| Q2 24 | -0.8% | 2.6% | ||
| Q1 24 | 23.0% | 2.4% |
净利率PFETSN
| Q4 25 | -9.4% | 0.6% | ||
| Q3 25 | 21.3% | 0.3% | ||
| Q2 25 | 19.9% | 0.4% | ||
| Q1 25 | 21.6% | 0.1% | ||
| Q4 24 | 2.3% | 2.6% | ||
| Q3 24 | 25.2% | 2.6% | ||
| Q2 24 | 0.3% | 1.4% | ||
| Q1 24 | 20.9% | 1.1% |
每股收益（稀释后）PFETSN
| Q4 25 | $-0.29 | $0.24 | ||
| Q3 25 | $0.62 | $0.13 | ||
| Q2 25 | $0.51 | $0.17 | ||
| Q1 25 | $0.52 | $0.02 | ||
| Q4 24 | $0.07 | $1.01 | ||
| Q3 24 | $0.78 | $1.00 | ||
| Q2 24 | $0.01 | $0.54 | ||
| Q1 24 | $0.55 | $0.41 |
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 | $1.1B | $1.3B |
| 总债务越低越好 | — | $7.5B |
| 股东权益账面价值 | $86.5B | $18.0B |
| 总资产 | $208.2B | $36.0B |
| 负债/权益比越低杠杆越低 | — | 0.41× |
8季度趋势，按日历期对齐
现金及短期投资PFETSN
| Q4 25 | $1.1B | $1.3B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.6B | $1.5B | ||
| Q1 25 | $1.4B | $992.0M | ||
| Q4 24 | $1.0B | $2.3B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $1.1B | $2.6B | ||
| Q1 24 | $719.0M | $2.2B |
总债务PFETSN
| Q4 25 | — | $7.5B | ||
| Q3 25 | — | $7.9B | ||
| Q2 25 | — | $8.2B | ||
| Q1 25 | — | $8.2B | ||
| Q4 24 | — | $9.7B | ||
| Q3 24 | — | $9.7B | ||
| Q2 24 | — | $9.7B | ||
| Q1 24 | — | $9.6B |
股东权益PFETSN
| Q4 25 | $86.5B | $18.0B | ||
| Q3 25 | $92.8B | $18.1B | ||
| Q2 25 | $88.7B | $18.3B | ||
| Q1 25 | $90.3B | $18.4B | ||
| Q4 24 | $88.2B | $18.5B | ||
| Q3 24 | $92.3B | $18.4B | ||
| Q2 24 | $87.7B | $18.1B | ||
| Q1 24 | $92.3B | $18.1B |
总资产PFETSN
| Q4 25 | $208.2B | $36.0B | ||
| Q3 25 | $208.7B | $36.7B | ||
| Q2 25 | $206.1B | $36.5B | ||
| Q1 25 | $208.0B | $36.3B | ||
| Q4 24 | $213.4B | $37.3B | ||
| Q3 24 | $219.5B | $37.1B | ||
| Q2 24 | $216.2B | $37.7B | ||
| Q1 24 | $221.1B | $37.5B |
负债/权益比PFETSN
| Q4 25 | — | 0.41× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.45× | ||
| Q1 25 | — | 0.44× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 0.54× | ||
| Q1 24 | — | 0.53× |
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 | $5.3B | $942.0M |
| 自由现金流经营现金流 - 资本支出 | $4.5B | $690.0M |
| 自由现金流率自由现金流/营收 | 25.6% | 4.8% |
| 资本支出强度资本支出/营收 | 4.8% | 1.8% |
| 现金转化率经营现金流/净利润 | — | 11.08× |
| 过去12个月自由现金流最近4个季度 | $9.1B | $1.1B |
8季度趋势，按日历期对齐
经营现金流PFETSN
| Q4 25 | $5.3B | $942.0M | ||
| Q3 25 | $4.6B | $535.0M | ||
| Q2 25 | $-582.0M | $774.0M | ||
| Q1 25 | $2.3B | $-185.0M | ||
| Q4 24 | $6.7B | $1.0B | ||
| Q3 24 | $6.7B | $617.0M | ||
| Q2 24 | $-1.8B | $796.0M | ||
| Q1 24 | $1.1B | $-123.0M |
自由现金流PFETSN
| Q4 25 | $4.5B | $690.0M | ||
| Q3 25 | $4.0B | $248.0M | ||
| Q2 25 | $-1.2B | $547.0M | ||
| Q1 25 | $1.8B | $-378.0M | ||
| Q4 24 | $5.8B | $760.0M | ||
| Q3 24 | $6.1B | $369.0M | ||
| Q2 24 | $-2.4B | $533.0M | ||
| Q1 24 | $386.0M | $-390.0M |
自由现金流率PFETSN
| Q4 25 | 25.6% | 4.8% | ||
| Q3 25 | 24.0% | 1.8% | ||
| Q2 25 | -8.2% | 3.9% | ||
| Q1 25 | 12.9% | -2.9% | ||
| Q4 24 | 32.7% | 5.6% | ||
| Q3 24 | 34.3% | 2.7% | ||
| Q2 24 | -18.2% | 4.0% | ||
| Q1 24 | 2.6% | -3.0% |
资本支出强度PFETSN
| Q4 25 | 4.8% | 1.8% | ||
| Q3 25 | 3.6% | 2.1% | ||
| Q2 25 | 4.2% | 1.6% | ||
| Q1 25 | 4.1% | 1.5% | ||
| Q4 24 | 5.2% | 2.0% | ||
| Q3 24 | 3.7% | 1.8% | ||
| Q2 24 | 4.8% | 2.0% | ||
| Q1 24 | 4.7% | 2.0% |
现金转化率PFETSN
| Q4 25 | — | 11.08× | ||
| Q3 25 | 1.30× | 11.38× | ||
| Q2 25 | -0.20× | 12.69× | ||
| Q1 25 | 0.79× | -26.43× | ||
| Q4 24 | 16.39× | 2.87× | ||
| Q3 24 | 1.50× | 1.73× | ||
| Q2 24 | -43.44× | 4.17× | ||
| Q1 24 | 0.35× | -0.85× |
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
PFE
| U.S.Commercial Division | $9.0B | 51% |
| Specialty Care | $4.8B | 27% |
| Total Alliance Biopharmaceuticals | $2.6B | 15% |
| Royalty | $480.0M | 3% |
| Pfizer Centre One | $409.0M | 2% |
TSN
| Beef | $5.8B | 40% |
| Retail Sales Channel | $2.9B | 20% |
| Pork | $1.6B | 11% |
| Foodservice Sales Channel | $1.6B | 11% |
| Other | $776.0M | 5% |
| Industrialand Other Sales Channel | $575.0M | 4% |
| International Sales Channel | $542.0M | 4% |
| Intersegment Revenues | $534.0M | 4% |
