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Royalty Pharma plc（RPRX）与INNOVATE Corp.（VATE）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INNOVATE Corp.的1.6倍（$622.0M vs $382.7M），Royalty Pharma plc净利率更高（34.4% vs -1.9%，领先36.4%），INNOVATE Corp.同比增速更快（61.7% vs 4.8%），过去两年INNOVATE Corp.的营收复合增速更高（10.2% vs 4.6%）
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。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
RPRX vs VATE — 直观对比
营收规模更大
RPRX
是对方的1.6倍
$382.7M
营收增速更快
VATE
高出57.0%
4.8%
净利率更高
RPRX
高出36.4%
-1.9%
两年增速更快
VATE
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $622.0M | $382.7M |
| 净利润 | $214.2M | $-7.4M |
| 毛利率 | — | 15.4% |
| 营业利润率 | 62.4% | 3.7% |
| 净利率 | 34.4% | -1.9% |
| 营收同比 | 4.8% | 61.7% |
| 净利润同比 | 2.9% | 55.4% |
| 每股收益（稀释后） | $0.49 | $-0.57 |
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RPRXVATE
| Q4 25 | $622.0M | $382.7M | ||
| Q3 25 | $609.3M | $347.1M | ||
| Q2 25 | $578.7M | $242.0M | ||
| Q1 25 | $568.2M | $274.2M | ||
| Q4 24 | $593.6M | $236.6M | ||
| Q3 24 | $564.7M | $242.2M | ||
| Q2 24 | $537.3M | $313.1M | ||
| Q1 24 | $568.0M | $315.2M |
净利润RPRXVATE
| Q4 25 | $214.2M | $-7.4M | ||
| Q3 25 | $288.2M | $-8.9M | ||
| Q2 25 | $30.2M | $-19.8M | ||
| Q1 25 | $238.3M | $-24.5M | ||
| Q4 24 | $208.2M | $-16.6M | ||
| Q3 24 | $544.0M | $-15.0M | ||
| Q2 24 | $102.0M | $14.4M | ||
| Q1 24 | $4.8M | $-17.4M |
毛利率RPRXVATE
| Q4 25 | — | 15.4% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.0% | ||
| Q1 24 | — | 15.4% |
营业利润率RPRXVATE
| Q4 25 | 62.4% | 3.7% | ||
| Q3 25 | 70.1% | 1.8% | ||
| Q2 25 | 36.3% | 2.0% | ||
| Q1 25 | 94.0% | 1.2% | ||
| Q4 24 | 60.9% | 1.1% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | 50.2% | 9.2% | ||
| Q1 24 | -13.0% | 0.9% |
净利率RPRXVATE
| Q4 25 | 34.4% | -1.9% | ||
| Q3 25 | 47.3% | -2.6% | ||
| Q2 25 | 5.2% | -8.2% | ||
| Q1 25 | 41.9% | -8.9% | ||
| Q4 24 | 35.1% | -7.0% | ||
| Q3 24 | 96.3% | -6.2% | ||
| Q2 24 | 19.0% | 4.6% | ||
| Q1 24 | 0.8% | -5.5% |
每股收益（稀释后）RPRXVATE
| Q4 25 | $0.49 | $-0.57 | ||
| Q3 25 | $0.67 | $-0.71 | ||
| Q2 25 | $0.07 | $-1.67 | ||
| Q1 25 | $0.55 | $-1.89 | ||
| Q4 24 | $0.46 | $-0.72 | ||
| Q3 24 | $1.21 | $-1.18 | ||
| Q2 24 | $0.23 | $1.03 | ||
| Q1 24 | $0.01 | $-2.21 |
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 | $618.7M | $112.1M |
| 总债务越低越好 | $9.0B | $80.3M |
| 股东权益账面价值 | $9.7B | $-240.1M |
| 总资产 | $19.6B | $950.1M |
| 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RPRXVATE
| Q4 25 | $618.7M | $112.1M | ||
| Q3 25 | $938.9M | $35.5M | ||
| Q2 25 | $631.9M | $33.4M | ||
| Q1 25 | $1.1B | $33.3M | ||
| Q4 24 | $929.0M | $48.8M | ||
| Q3 24 | $950.1M | $51.0M | ||
| Q2 24 | $1.8B | $80.2M | ||
| Q1 24 | $843.0M | $38.4M |
总债务RPRXVATE
| Q4 25 | $9.0B | $80.3M | ||
| Q3 25 | $8.9B | $97.3M | ||
| Q2 25 | $8.0B | $160.1M | ||
| Q1 25 | $7.6B | $139.9M | ||
| Q4 24 | $7.6B | $500.6M | ||
| Q3 24 | $7.6B | $502.4M | ||
| Q2 24 | $7.6B | $638.3M | ||
| Q1 24 | $6.1B | $641.5M |
股东权益RPRXVATE
| Q4 25 | $9.7B | $-240.1M | ||
| Q3 25 | $9.6B | $-233.3M | ||
| Q2 25 | $9.5B | $-224.8M | ||
| Q1 25 | $9.8B | $-204.2M | ||
| Q4 24 | $10.3B | $-180.4M | ||
| Q3 24 | $10.3B | $-163.1M | ||
| Q2 24 | $9.8B | $-149.0M | ||
| Q1 24 | $9.9B | $-184.4M |
总资产RPRXVATE
| Q4 25 | $19.6B | $950.1M | ||
| Q3 25 | $19.3B | $913.2M | ||
| Q2 25 | $18.3B | $890.9M | ||
| Q1 25 | $17.6B | $868.0M | ||
| Q4 24 | $18.2B | $891.1M | ||
| Q3 24 | $18.0B | $897.2M | ||
| Q2 24 | $17.7B | $898.9M | ||
| Q1 24 | $16.1B | $943.5M |
负债/权益比RPRXVATE
| 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 | $827.1M | $101.1M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 3.86× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流RPRXVATE
| Q4 25 | $827.1M | $101.1M | ||
| Q3 25 | $702.6M | $19.2M | ||
| Q2 25 | $364.0M | $40.4M | ||
| Q1 25 | $596.1M | $-14.1M | ||
| Q4 24 | $742.5M | $41.4M | ||
| Q3 24 | $703.6M | $-28.4M | ||
| Q2 24 | $658.2M | $21.5M | ||
| Q1 24 | $664.6M | $-25.4M |
自由现金流RPRXVATE
| Q4 25 | — | — | ||
| Q3 25 | — | $19.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-18.8M | ||
| Q4 24 | — | $34.2M | ||
| Q3 24 | — | $-31.5M | ||
| Q2 24 | — | $18.4M | ||
| Q1 24 | — | $-31.0M |
自由现金流率RPRXVATE
| Q4 25 | — | — | ||
| Q3 25 | — | 5.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | — | -13.0% | ||
| Q2 24 | — | 5.9% | ||
| Q1 24 | — | -9.8% |
资本支出强度RPRXVATE
| Q4 25 | — | — | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 1.8% |
现金转化率RPRXVATE
| Q4 25 | 3.86× | — | ||
| Q3 25 | 2.44× | — | ||
| Q2 25 | 12.06× | — | ||
| Q1 25 | 2.50× | — | ||
| Q4 24 | 3.57× | — | ||
| Q3 24 | 1.29× | — | ||
| Q2 24 | 6.45× | 1.49× | ||
| Q1 24 | 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
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
