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梯瓦制药（TEVA）与泰佩思琦（TPR）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泰佩思琦的1.9倍（$4.7B vs $2.5B），泰佩思琦净利率更高（22.4% vs 10.2%，领先12.2%），泰佩思琦同比增速更快（14.0% vs 11.4%），泰佩思琦自由现金流更多（$1.0B vs $1.0B），过去两年泰佩思琦的营收复合增速更高（29.9% vs 11.1%）
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。
Tapestry, Inc.是美国知名跨国奢侈品时尚控股企业，旗下拥有Coach、Kate Spade New York、Stuart Weitzman三大标志性生活方式品牌，主营高端手袋、服饰、鞋履、配饰及香水产品，销售渠道覆盖全球线下门店与线上电商平台。
TEVA vs TPR — 直观对比
营收规模更大
TEVA
是对方的1.9倍
$2.5B
营收增速更快
TPR
高出2.6%
11.4%
净利率更高
TPR
高出12.2%
10.2%
自由现金流更多
TPR
多$21.5M
$1.0B
两年增速更快
TPR
近两年复合增速
11.1%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $2.5B |
| 净利润 | $481.0M | $561.3M |
| 毛利率 | 56.4% | 75.5% |
| 营业利润率 | 6.4% | 28.6% |
| 净利率 | 10.2% | 22.4% |
| 营收同比 | 11.4% | 14.0% |
| 净利润同比 | 321.7% | 80.8% |
| 每股收益（稀释后） | $0.42 | $2.68 |
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TEVATPR
| Q4 25 | $4.7B | $2.5B | ||
| Q3 25 | $4.5B | $1.7B | ||
| Q2 25 | $4.2B | $1.7B | ||
| Q1 25 | $3.9B | $1.6B | ||
| Q4 24 | $4.2B | $2.2B | ||
| Q3 24 | $4.3B | $1.5B | ||
| Q2 24 | $4.2B | $1.6B | ||
| Q1 24 | $3.8B | $1.5B |
净利润TEVATPR
| Q4 25 | $481.0M | $561.3M | ||
| Q3 25 | $433.0M | $274.8M | ||
| Q2 25 | $282.0M | $-517.1M | ||
| Q1 25 | $214.0M | $203.3M | ||
| Q4 24 | $-217.0M | $310.4M | ||
| Q3 24 | $-437.0M | $186.6M | ||
| Q2 24 | $-846.0M | $159.3M | ||
| Q1 24 | $-139.0M | $139.4M |
毛利率TEVATPR
| Q4 25 | 56.4% | 75.5% | ||
| Q3 25 | 51.4% | 76.3% | ||
| Q2 25 | 50.3% | 76.3% | ||
| Q1 25 | 48.2% | 76.1% | ||
| Q4 24 | 50.2% | 74.4% | ||
| Q3 24 | 49.6% | 75.3% | ||
| Q2 24 | 48.6% | 74.9% | ||
| Q1 24 | 46.4% | 74.7% |
营业利润率TEVATPR
| Q4 25 | 6.4% | 28.6% | ||
| Q3 25 | 19.7% | 19.3% | ||
| Q2 25 | 10.9% | -33.9% | ||
| Q1 25 | 13.3% | 16.0% | ||
| Q4 24 | -0.7% | 22.4% | ||
| Q3 24 | -1.2% | 16.7% | ||
| Q2 24 | -0.1% | 14.8% | ||
| Q1 24 | -5.7% | 13.8% |
净利率TEVATPR
| Q4 25 | 10.2% | 22.4% | ||
| Q3 25 | 9.7% | 16.1% | ||
| Q2 25 | 6.8% | -30.0% | ||
| Q1 25 | 5.5% | 12.8% | ||
| Q4 24 | -5.1% | 14.1% | ||
| Q3 24 | -10.1% | 12.4% | ||
| Q2 24 | -20.3% | 10.0% | ||
| Q1 24 | -3.6% | 9.4% |
每股收益（稀释后）TEVATPR
| Q4 25 | $0.42 | $2.68 | ||
| Q3 25 | $0.37 | $1.28 | ||
| Q2 25 | $0.24 | $-2.30 | ||
| Q1 25 | $0.18 | $0.95 | ||
| Q4 24 | $-0.19 | $1.38 | ||
| Q3 24 | $-0.39 | $0.79 | ||
| Q2 24 | $-0.75 | $0.67 | ||
| Q1 24 | $-0.12 | $0.60 |
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 | $3.6B | $1.1B |
| 总债务越低越好 | — | $2.4B |
| 股东权益账面价值 | $7.9B | $551.2M |
| 总资产 | $40.7B | $6.5B |
| 负债/权益比越低杠杆越低 | — | 4.32× |
8季度趋势，按日历期对齐
现金及短期投资TEVATPR
| Q4 25 | $3.6B | $1.1B | ||
| Q3 25 | $2.2B | $743.2M | ||
| Q2 25 | $2.2B | $1.1B | ||
| Q1 25 | $1.7B | $1.1B | ||
| Q4 24 | $3.3B | $1.0B | ||
| Q3 24 | $3.3B | $7.3B | ||
| Q2 24 | $2.3B | $7.2B | ||
| Q1 24 | $3.0B | $7.4B |
总债务TEVATPR
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $7.0B | ||
| Q2 24 | — | $6.9B | ||
| Q1 24 | — | $7.7B |
股东权益TEVATPR
| Q4 25 | $7.9B | $551.2M | ||
| Q3 25 | $7.3B | $399.5M | ||
| Q2 25 | $6.8B | $857.8M | ||
| Q1 25 | $6.3B | $1.5B | ||
| Q4 24 | $5.4B | $1.3B | ||
| Q3 24 | $6.1B | $3.0B | ||
| Q2 24 | $6.4B | $2.9B | ||
| Q1 24 | $7.3B | $2.8B |
总资产TEVATPR
| Q4 25 | $40.7B | $6.5B | ||
| Q3 25 | $39.9B | $6.4B | ||
| Q2 25 | $40.1B | $6.6B | ||
| Q1 25 | $38.4B | $7.3B | ||
| Q4 24 | $39.3B | $7.3B | ||
| Q3 24 | $41.8B | $13.7B | ||
| Q2 24 | $41.3B | $13.4B | ||
| Q1 24 | $42.8B | $13.7B |
负债/权益比TEVATPR
| Q4 25 | — | 4.32× | ||
| Q3 25 | — | 5.95× | ||
| Q2 25 | — | 2.77× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | 2.35× | ||
| Q2 24 | — | 2.39× | ||
| Q1 24 | — | 2.77× |
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 | $1.2B | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $1.0B |
| 自由现金流率自由现金流/营收 | 21.6% | 41.5% |
| 资本支出强度资本支出/营收 | 3.0% | 1.7% |
| 现金转化率经营现金流/净利润 | 2.41× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $1.6B |
8季度趋势，按日历期对齐
经营现金流TEVATPR
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | $369.0M | $112.6M | ||
| Q2 25 | $227.0M | $446.8M | ||
| Q1 25 | $-105.0M | $144.3M | ||
| Q4 24 | $575.0M | $506.0M | ||
| Q3 24 | $693.0M | $119.5M | ||
| Q2 24 | $103.0M | $256.0M | ||
| Q1 24 | $-124.0M | $97.8M |
自由现金流TEVATPR
| Q4 25 | $1.0B | $1.0B | ||
| Q3 25 | $233.0M | $80.2M | ||
| Q2 25 | $131.0M | $411.5M | ||
| Q1 25 | $-232.0M | $113.4M | ||
| Q4 24 | $446.0M | $475.1M | ||
| Q3 24 | $545.0M | $93.9M | ||
| Q2 24 | $6.0M | $209.8M | ||
| Q1 24 | $-248.0M | $78.8M |
自由现金流率TEVATPR
| Q4 25 | 21.6% | 41.5% | ||
| Q3 25 | 5.2% | 4.7% | ||
| Q2 25 | 3.1% | 23.9% | ||
| Q1 25 | -6.0% | 7.2% | ||
| Q4 24 | 10.5% | 21.6% | ||
| Q3 24 | 12.6% | 6.2% | ||
| Q2 24 | 0.1% | 13.2% | ||
| Q1 24 | -6.5% | 5.3% |
资本支出强度TEVATPR
| Q4 25 | 3.0% | 1.7% | ||
| Q3 25 | 3.0% | 1.9% | ||
| Q2 25 | 2.3% | 2.0% | ||
| Q1 25 | 3.3% | 2.0% | ||
| Q4 24 | 3.1% | 1.4% | ||
| Q3 24 | 3.4% | 1.7% | ||
| Q2 24 | 2.3% | 2.9% | ||
| Q1 24 | 3.2% | 1.3% |
现金转化率TEVATPR
| Q4 25 | 2.41× | 1.93× | ||
| Q3 25 | 0.85× | 0.41× | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | -0.49× | 0.71× | ||
| Q4 24 | — | 1.63× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 1.61× | ||
| Q1 24 | — | 0.70× |
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
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% |
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
