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棒约翰（PZZA）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的季度营收约是棒约翰的1.2倍（$622.0M vs $498.2M），Royalty Pharma plc净利率更高（34.4% vs 1.4%，领先33.0%），Royalty Pharma plc同比增速更快（4.8% vs -6.1%），过去两年Royalty Pharma plc的营收复合增速更高（4.6% vs -1.5%）
棒约翰国际是源自美国的知名披萨餐饮连锁品牌，截至2023年，它是美国市场规模第四大披萨外送连锁餐饮集团，总部设于肯塔基州路易斯维尔与佐治亚州亚特兰大的都会区，在全球多地开设门店，主打披萨外卖业务。
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。
PZZA vs RPRX — 直观对比
营收规模更大
RPRX
是对方的1.2倍
$498.2M
营收增速更快
RPRX
高出10.9%
-6.1%
净利率更高
RPRX
高出33.0%
1.4%
两年增速更快
RPRX
近两年复合增速
-1.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $498.2M | $622.0M |
| 净利润 | $7.1M | $214.2M |
| 毛利率 | — | — |
| 营业利润率 | 4.9% | 62.4% |
| 净利率 | 1.4% | 34.4% |
| 营收同比 | -6.1% | 4.8% |
| 净利润同比 | -52.2% | 2.9% |
| 每股收益（稀释后） | $0.22 | $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PZZARPRX
| Q4 25 | $498.2M | $622.0M | ||
| Q3 25 | $508.2M | $609.3M | ||
| Q2 25 | $529.2M | $578.7M | ||
| Q1 25 | $518.3M | $568.2M | ||
| Q4 24 | $530.8M | $593.6M | ||
| Q3 24 | $506.8M | $564.7M | ||
| Q2 24 | $507.9M | $537.3M | ||
| Q1 24 | $513.9M | $568.0M |
净利润PZZARPRX
| Q4 25 | $7.1M | $214.2M | ||
| Q3 25 | $4.7M | $288.2M | ||
| Q2 25 | $9.5M | $30.2M | ||
| Q1 25 | $9.2M | $238.3M | ||
| Q4 24 | $14.8M | $208.2M | ||
| Q3 24 | $41.8M | $544.0M | ||
| Q2 24 | $12.2M | $102.0M | ||
| Q1 24 | $14.6M | $4.8M |
营业利润率PZZARPRX
| Q4 25 | 4.9% | 62.4% | ||
| Q3 25 | 3.2% | 70.1% | ||
| Q2 25 | 4.6% | 36.3% | ||
| Q1 25 | 4.6% | 94.0% | ||
| Q4 24 | 5.6% | 60.9% | ||
| Q3 24 | 12.9% | — | ||
| Q2 24 | 5.6% | 50.2% | ||
| Q1 24 | 6.6% | -13.0% |
净利率PZZARPRX
| Q4 25 | 1.4% | 34.4% | ||
| Q3 25 | 0.9% | 47.3% | ||
| Q2 25 | 1.8% | 5.2% | ||
| Q1 25 | 1.8% | 41.9% | ||
| Q4 24 | 2.8% | 35.1% | ||
| Q3 24 | 8.2% | 96.3% | ||
| Q2 24 | 2.4% | 19.0% | ||
| Q1 24 | 2.8% | 0.8% |
每股收益（稀释后）PZZARPRX
| Q4 25 | $0.22 | $0.49 | ||
| Q3 25 | $0.13 | $0.67 | ||
| Q2 25 | $0.28 | $0.07 | ||
| Q1 25 | $0.27 | $0.55 | ||
| Q4 24 | $0.46 | $0.46 | ||
| Q3 24 | $1.27 | $1.21 | ||
| Q2 24 | $0.37 | $0.23 | ||
| Q1 24 | $0.44 | $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 | $34.6M | $618.7M |
| 总债务越低越好 | $722.3M | $9.0B |
| 股东权益账面价值 | $-444.8M | $9.7B |
| 总资产 | $837.5M | $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PZZARPRX
| Q4 25 | $34.6M | $618.7M | ||
| Q3 25 | $39.0M | $938.9M | ||
| Q2 25 | $33.3M | $631.9M | ||
| Q1 25 | $44.0M | $1.1B | ||
| Q4 24 | $38.0M | $929.0M | ||
| Q3 24 | $17.6M | $950.1M | ||
| Q2 24 | $24.3M | $1.8B | ||
| Q1 24 | $27.8M | $843.0M |
总债务PZZARPRX
| Q4 25 | $722.3M | $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PZZARPRX
| Q4 25 | $-444.8M | $9.7B | ||
| Q3 25 | $-439.3M | $9.6B | ||
| Q2 25 | $-432.0M | $9.5B | ||
| Q1 25 | $-431.9M | $9.8B | ||
| Q4 24 | $-429.5M | $10.3B | ||
| Q3 24 | $-430.9M | $10.3B | ||
| Q2 24 | $-461.7M | $9.8B | ||
| Q1 24 | $-461.9M | $9.9B |
总资产PZZARPRX
| Q4 25 | $837.5M | $19.6B | ||
| Q3 25 | $884.1M | $19.3B | ||
| Q2 25 | $890.4M | $18.3B | ||
| Q1 25 | $898.1M | $17.6B | ||
| Q4 24 | $889.0M | $18.2B | ||
| Q3 24 | $860.9M | $18.0B | ||
| Q2 24 | $838.4M | $17.7B | ||
| Q1 24 | $847.2M | $16.1B |
负债/权益比PZZARPRX
| 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 | $19.8M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $2.1M | — |
| 自由现金流率自由现金流/营收 | 0.4% | — |
| 资本支出强度资本支出/营收 | 3.6% | — |
| 现金转化率经营现金流/净利润 | 2.80× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $61.3M | — |
8季度趋势，按日历期对齐
经营现金流PZZARPRX
| Q4 25 | $19.8M | $827.1M | ||
| Q3 25 | $39.3M | $702.6M | ||
| Q2 25 | $35.5M | $364.0M | ||
| Q1 25 | $31.3M | $596.1M | ||
| Q4 24 | $50.7M | $742.5M | ||
| Q3 24 | $13.9M | $703.6M | ||
| Q2 24 | $30.0M | $658.2M | ||
| Q1 24 | $12.0M | $664.6M |
自由现金流PZZARPRX
| Q4 25 | $2.1M | — | ||
| Q3 25 | $22.7M | — | ||
| Q2 25 | $17.4M | — | ||
| Q1 25 | $19.1M | — | ||
| Q4 24 | $25.2M | — | ||
| Q3 24 | $-3.8M | — | ||
| Q2 24 | $13.9M | — | ||
| Q1 24 | $-1.1M | — |
自由现金流率PZZARPRX
| Q4 25 | 0.4% | — | ||
| Q3 25 | 4.5% | — | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 4.7% | — | ||
| Q3 24 | -0.8% | — | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | -0.2% | — |
资本支出强度PZZARPRX
| Q4 25 | 3.6% | — | ||
| Q3 25 | 3.3% | — | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 3.5% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 2.5% | — |
现金转化率PZZARPRX
| Q4 25 | 2.80× | 3.86× | ||
| Q3 25 | 8.36× | 2.44× | ||
| Q2 25 | 3.73× | 12.06× | ||
| Q1 25 | 3.40× | 2.50× | ||
| Q4 24 | 3.43× | 3.57× | ||
| Q3 24 | 0.33× | 1.29× | ||
| Q2 24 | 2.45× | 6.45× | ||
| Q1 24 | 0.82× | 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
PZZA
| Commissary | $236.8M | 48% |
| Company Owned Restaurant Sales | $154.4M | 31% |
| Franchisor | $47.5M | 10% |
| Advertising | $37.2M | 7% |
| Other | $22.2M | 4% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
