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PPL Corporation（PPL）与福泰制药（VRTX）财务数据对比。点击上方公司名可切换其他公司
福泰制药的季度营收约是PPL Corporation的1.4倍（$3.2B vs $2.3B），福泰制药净利率更高（37.3% vs 11.3%，领先26.0%），福泰制药同比增速更快（9.5% vs 7.2%），福泰制药自由现金流更多（$348.6M vs $-614.0M），过去两年福泰制药的营收复合增速更高（8.9% vs 1.0%）
PPL公司是总部位于美国宾夕法尼亚州的能源公用事业控股企业，为宾州、肯塔基州、罗德岛州约350万居民及工商业用户提供电力与天然气供应服务，核心业务方向包括电网现代化升级、清洁能源转型、高可靠性可持续能源服务供给。
福泰制药是总部位于美国马萨诸塞州波士顿的生物制药企业，是全球首批明确采用理性药物设计策略、而非组合化学方法开发药物的生物技术公司之一。除波士顿总部外，公司还在加州圣迭戈、英国牛津郡米尔顿公园设有三处研发中心。
PPL vs VRTX — 直观对比
营收规模更大
VRTX
是对方的1.4倍
$2.3B
营收增速更快
VRTX
高出2.3%
7.2%
净利率更高
VRTX
高出26.0%
11.3%
自由现金流更多
VRTX
多$962.6M
$-614.0M
两年增速更快
VRTX
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $3.2B |
| 净利润 | $266.0M | $1.2B |
| 毛利率 | — | 85.4% |
| 营业利润率 | 20.3% | 37.8% |
| 净利率 | 11.3% | 37.3% |
| 营收同比 | 7.2% | 9.5% |
| 净利润同比 | 50.3% | 30.5% |
| 每股收益（稀释后） | $0.35 | $4.64 |
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PPLVRTX
| Q4 25 | $2.3B | $3.2B | ||
| Q3 25 | $2.2B | $3.1B | ||
| Q2 25 | $2.0B | $3.0B | ||
| Q1 25 | $2.5B | $2.8B | ||
| Q4 24 | $2.2B | $2.9B | ||
| Q3 24 | $2.1B | $2.8B | ||
| Q2 24 | $1.9B | $2.6B | ||
| Q1 24 | $2.3B | $2.7B |
净利润PPLVRTX
| Q4 25 | $266.0M | $1.2B | ||
| Q3 25 | $318.0M | $1.1B | ||
| Q2 25 | $183.0M | $1.0B | ||
| Q1 25 | $414.0M | $646.3M | ||
| Q4 24 | $177.0M | $913.0M | ||
| Q3 24 | $214.0M | $1.0B | ||
| Q2 24 | $190.0M | $-3.6B | ||
| Q1 24 | $307.0M | $1.1B |
毛利率PPLVRTX
| Q4 25 | — | 85.4% | ||
| Q3 25 | — | 86.5% | ||
| Q2 25 | — | 86.3% | ||
| Q1 25 | — | 86.9% | ||
| Q4 24 | — | 85.5% | ||
| Q3 24 | — | 85.8% | ||
| Q2 24 | — | 85.9% | ||
| Q1 24 | — | 87.3% |
营业利润率PPLVRTX
| Q4 25 | 20.3% | 37.8% | ||
| Q3 25 | 25.4% | 38.6% | ||
| Q2 25 | 19.9% | 38.8% | ||
| Q1 25 | 26.6% | 22.7% | ||
| Q4 24 | 17.2% | 35.2% | ||
| Q3 24 | 20.6% | 40.3% | ||
| Q2 24 | 20.8% | -132.9% | ||
| Q1 24 | 23.7% | 42.4% |
净利率PPLVRTX
| Q4 25 | 11.3% | 37.3% | ||
| Q3 25 | 14.2% | 35.2% | ||
| Q2 25 | 9.0% | 34.8% | ||
| Q1 25 | 16.3% | 23.3% | ||
| Q4 24 | 8.1% | 31.4% | ||
| Q3 24 | 10.3% | 37.7% | ||
| Q2 24 | 10.1% | -135.8% | ||
| Q1 24 | 13.3% | 40.9% |
每股收益（稀释后）PPLVRTX
| Q4 25 | $0.35 | $4.64 | ||
| Q3 25 | $0.43 | $4.20 | ||
| Q2 25 | $0.25 | $3.99 | ||
| Q1 25 | $0.56 | $2.49 | ||
| Q4 24 | $0.23 | $3.62 | ||
| Q3 24 | $0.29 | $4.01 | ||
| Q2 24 | $0.26 | $-13.92 | ||
| Q1 24 | $0.42 | $4.21 |
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 | $6.6B |
| 总债务越低越好 | $18.9B | — |
| 股东权益账面价值 | $14.9B | $18.7B |
| 总资产 | $45.2B | $25.6B |
| 负债/权益比越低杠杆越低 | 1.27× | — |
8季度趋势，按日历期对齐
现金及短期投资PPLVRTX
| Q4 25 | $1.1B | $6.6B | ||
| Q3 25 | $1.1B | $6.3B | ||
| Q2 25 | $294.0M | $6.4B | ||
| Q1 25 | $312.0M | $6.2B | ||
| Q4 24 | $306.0M | $6.1B | ||
| Q3 24 | $542.0M | $6.5B | ||
| Q2 24 | $282.0M | $5.8B | ||
| Q1 24 | $276.0M | $10.2B |
总债务PPLVRTX
| Q4 25 | $18.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $16.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PPLVRTX
| Q4 25 | $14.9B | $18.7B | ||
| Q3 25 | $14.4B | $17.3B | ||
| Q2 25 | $14.3B | $17.2B | ||
| Q1 25 | $14.3B | $16.5B | ||
| Q4 24 | $14.1B | $16.4B | ||
| Q3 24 | $14.1B | $15.6B | ||
| Q2 24 | $14.1B | $14.8B | ||
| Q1 24 | $14.1B | $18.5B |
总资产PPLVRTX
| Q4 25 | $45.2B | $25.6B | ||
| Q3 25 | $43.9B | $24.9B | ||
| Q2 25 | $42.4B | $24.0B | ||
| Q1 25 | $41.8B | $22.9B | ||
| Q4 24 | $41.1B | $22.5B | ||
| Q3 24 | $40.5B | $22.2B | ||
| Q2 24 | $39.8B | $20.1B | ||
| Q1 24 | $39.6B | $23.9B |
负债/权益比PPLVRTX
| Q4 25 | 1.27× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.17× | — | ||
| 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 | $548.0M | $498.0M |
| 自由现金流经营现金流 - 资本支出 | $-614.0M | $348.6M |
| 自由现金流率自由现金流/营收 | -26.1% | 10.9% |
| 资本支出强度资本支出/营收 | 49.5% | 4.7% |
| 现金转化率经营现金流/净利润 | 2.06× | 0.42× |
| 过去12个月自由现金流最近4个季度 | $-1.4B | $3.2B |
8季度趋势，按日历期对齐
经营现金流PPLVRTX
| Q4 25 | $548.0M | $498.0M | ||
| Q3 25 | $966.0M | $1.2B | ||
| Q2 25 | $602.0M | $1.1B | ||
| Q1 25 | $513.0M | $818.9M | ||
| Q4 24 | $511.0M | $584.6M | ||
| Q3 24 | $781.0M | $1.4B | ||
| Q2 24 | $766.0M | $-3.8B | ||
| Q1 24 | $282.0M | $1.3B |
自由现金流PPLVRTX
| Q4 25 | $-614.0M | $348.6M | ||
| Q3 25 | $-179.0M | $1.1B | ||
| Q2 25 | $-328.0M | $927.4M | ||
| Q1 25 | $-280.0M | $778.2M | ||
| Q4 24 | $-349.0M | $492.0M | ||
| Q3 24 | $102.0M | $1.3B | ||
| Q2 24 | $96.0M | $-3.8B | ||
| Q1 24 | $-314.0M | $1.2B |
自由现金流率PPLVRTX
| Q4 25 | -26.1% | 10.9% | ||
| Q3 25 | -8.0% | 37.0% | ||
| Q2 25 | -16.1% | 31.3% | ||
| Q1 25 | -11.0% | 28.1% | ||
| Q4 24 | -15.9% | 16.9% | ||
| Q3 24 | 4.9% | 47.0% | ||
| Q2 24 | 5.1% | -144.5% | ||
| Q1 24 | -13.6% | 46.0% |
资本支出强度PPLVRTX
| Q4 25 | 49.5% | 4.7% | ||
| Q3 25 | 51.2% | 3.3% | ||
| Q2 25 | 45.6% | 4.9% | ||
| Q1 25 | 31.2% | 1.5% | ||
| Q4 24 | 39.3% | 3.2% | ||
| Q3 24 | 32.7% | 2.4% | ||
| Q2 24 | 35.8% | 2.6% | ||
| Q1 24 | 25.9% | 2.5% |
现金转化率PPLVRTX
| Q4 25 | 2.06× | 0.42× | ||
| Q3 25 | 3.04× | 1.15× | ||
| Q2 25 | 3.29× | 1.04× | ||
| Q1 25 | 1.24× | 1.27× | ||
| Q4 24 | 2.89× | 0.64× | ||
| Q3 24 | 3.65× | 1.31× | ||
| Q2 24 | 4.03× | — | ||
| Q1 24 | 0.92× | 1.19× |
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
PPL
| Rhode Island Regulated | $539.0M | 23% |
| Other | $532.0M | 23% |
| Residential | $451.0M | 19% |
| Nonrelated Party | $425.0M | 18% |
| Transmission | $228.0M | 10% |
| Commercial | $117.0M | 5% |
| Wholesale Other | $23.0M | 1% |
| Industrial | $14.0M | 1% |
| Related Party | $13.0M | 1% |
| Wholesale Municipal | $6.0M | 0% |
VRTX
| TRIKAFTAKAFTRIO | $2.6B | 81% |
| ALYFTREK | $380.1M | 12% |
| Manufactured Product Other | $237.4M | 7% |
