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梯瓦制药（TEVA）与标普全球（VG）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标普全球的1.1倍（$4.7B vs $4.4B），标普全球净利率更高（26.8% vs 10.2%，领先16.6%），标普全球同比增速更快（191.7% vs 11.4%），梯瓦制药自由现金流更多（$1.0B vs $-1.5B），过去两年标普全球的营收复合增速更高（77.3% 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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
TEVA vs VG — 直观对比
营收规模更大
TEVA
是对方的1.1倍
$4.4B
营收增速更快
VG
高出180.3%
11.4%
净利率更高
VG
高出16.6%
10.2%
自由现金流更多
TEVA
多$2.5B
$-1.5B
两年增速更快
VG
近两年复合增速
11.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $4.4B |
| 净利润 | $481.0M | $1.2B |
| 毛利率 | 56.4% | — |
| 营业利润率 | 6.4% | 38.7% |
| 净利率 | 10.2% | 26.8% |
| 营收同比 | 11.4% | 191.7% |
| 净利润同比 | 321.7% | 20.3% |
| 每股收益（稀释后） | $0.42 | $0.41 |
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TEVAVG
| Q4 25 | $4.7B | $4.4B | ||
| Q3 25 | $4.5B | $3.3B | ||
| Q2 25 | $4.2B | $3.1B | ||
| Q1 25 | $3.9B | $2.9B | ||
| Q4 24 | $4.2B | $1.5B | ||
| Q3 24 | $4.3B | $926.0M | ||
| Q2 24 | $4.2B | $1.1B | ||
| Q1 24 | $3.8B | $1.4B |
净利润TEVAVG
| Q4 25 | $481.0M | $1.2B | ||
| Q3 25 | $433.0M | $550.0M | ||
| Q2 25 | $282.0M | $475.0M | ||
| Q1 25 | $214.0M | $517.0M | ||
| Q4 24 | $-217.0M | $990.0M | ||
| Q3 24 | $-437.0M | $-294.0M | ||
| Q2 24 | $-846.0M | $352.0M | ||
| Q1 24 | $-139.0M | $698.0M |
毛利率TEVAVG
| Q4 25 | 56.4% | — | ||
| Q3 25 | 51.4% | — | ||
| Q2 25 | 50.3% | — | ||
| Q1 25 | 48.2% | — | ||
| Q4 24 | 50.2% | — | ||
| Q3 24 | 49.6% | — | ||
| Q2 24 | 48.6% | — | ||
| Q1 24 | 46.4% | — |
营业利润率TEVAVG
| Q4 25 | 6.4% | 38.7% | ||
| Q3 25 | 19.7% | 39.7% | ||
| Q2 25 | 10.9% | 33.5% | ||
| Q1 25 | 13.3% | 37.3% | ||
| Q4 24 | -0.7% | 39.0% | ||
| Q3 24 | -1.2% | 20.4% | ||
| Q2 24 | -0.1% | 32.8% | ||
| Q1 24 | -5.7% | 43.6% |
净利率TEVAVG
| Q4 25 | 10.2% | 26.8% | ||
| Q3 25 | 9.7% | 16.5% | ||
| Q2 25 | 6.8% | 15.3% | ||
| Q1 25 | 5.5% | 17.9% | ||
| Q4 24 | -5.1% | 65.0% | ||
| Q3 24 | -10.1% | -31.7% | ||
| Q2 24 | -20.3% | 31.8% | ||
| Q1 24 | -3.6% | 49.4% |
每股收益（稀释后）TEVAVG
| Q4 25 | $0.42 | $0.41 | ||
| Q3 25 | $0.37 | $0.16 | ||
| Q2 25 | $0.24 | $0.14 | ||
| Q1 25 | $0.18 | $0.15 | ||
| Q4 24 | $-0.19 | $0.35 | ||
| Q3 24 | $-0.39 | $-0.15 | ||
| Q2 24 | $-0.75 | $0.12 | ||
| Q1 24 | $-0.12 | $0.25 |
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 | $2.4B |
| 总债务越低越好 | — | $34.2B |
| 股东权益账面价值 | $7.9B | $6.7B |
| 总资产 | $40.7B | $53.4B |
| 负债/权益比越低杠杆越低 | — | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资TEVAVG
| Q4 25 | $3.6B | $2.4B | ||
| Q3 25 | $2.2B | $1.9B | ||
| Q2 25 | $2.2B | $2.2B | ||
| Q1 25 | $1.7B | $3.6B | ||
| Q4 24 | $3.3B | $3.6B | ||
| Q3 24 | $3.3B | — | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | $3.0B | — |
总债务TEVAVG
| Q4 25 | — | $34.2B | ||
| Q3 25 | — | $32.6B | ||
| Q2 25 | — | $30.0B | ||
| Q1 25 | — | $29.3B | ||
| Q4 24 | — | $29.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益TEVAVG
| Q4 25 | $7.9B | $6.7B | ||
| Q3 25 | $7.3B | $5.7B | ||
| Q2 25 | $6.8B | $5.3B | ||
| Q1 25 | $6.3B | $4.9B | ||
| Q4 24 | $5.4B | $2.9B | ||
| Q3 24 | $6.1B | — | ||
| Q2 24 | $6.4B | — | ||
| Q1 24 | $7.3B | — |
总资产TEVAVG
| Q4 25 | $40.7B | $53.4B | ||
| Q3 25 | $39.9B | $50.1B | ||
| Q2 25 | $40.1B | $46.5B | ||
| Q1 25 | $38.4B | $45.1B | ||
| Q4 24 | $39.3B | $43.5B | ||
| Q3 24 | $41.8B | — | ||
| Q2 24 | $41.3B | — | ||
| Q1 24 | $42.8B | — |
负债/权益比TEVAVG
| Q4 25 | — | 5.07× | ||
| Q3 25 | — | 5.73× | ||
| Q2 25 | — | 5.69× | ||
| Q1 25 | — | 6.01× | ||
| Q4 24 | — | 10.11× | ||
| 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 | $1.2B | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $-1.5B |
| 自由现金流率自由现金流/营收 | 21.6% | -34.1% |
| 资本支出强度资本支出/营收 | 3.0% | 81.6% |
| 现金转化率经营现金流/净利润 | 2.41× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $-6.8B |
8季度趋势，按日历期对齐
经营现金流TEVAVG
| Q4 25 | $1.2B | $2.1B | ||
| Q3 25 | $369.0M | $1.9B | ||
| Q2 25 | $227.0M | $1.5B | ||
| Q1 25 | $-105.0M | $1.1B | ||
| Q4 24 | $575.0M | — | ||
| Q3 24 | $693.0M | — | ||
| Q2 24 | $103.0M | — | ||
| Q1 24 | $-124.0M | $638.0M |
自由现金流TEVAVG
| Q4 25 | $1.0B | $-1.5B | ||
| Q3 25 | $233.0M | $-1.4B | ||
| Q2 25 | $131.0M | $-1.5B | ||
| Q1 25 | $-232.0M | $-2.4B | ||
| Q4 24 | $446.0M | — | ||
| Q3 24 | $545.0M | — | ||
| Q2 24 | $6.0M | — | ||
| Q1 24 | $-248.0M | $-2.4B |
自由现金流率TEVAVG
| Q4 25 | 21.6% | -34.1% | ||
| Q3 25 | 5.2% | -42.4% | ||
| Q2 25 | 3.1% | -49.1% | ||
| Q1 25 | -6.0% | -81.3% | ||
| Q4 24 | 10.5% | — | ||
| Q3 24 | 12.6% | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | -6.5% | -167.3% |
资本支出强度TEVAVG
| Q4 25 | 3.0% | 81.6% | ||
| Q3 25 | 3.0% | 98.9% | ||
| Q2 25 | 2.3% | 96.1% | ||
| Q1 25 | 3.3% | 119.8% | ||
| Q4 24 | 3.1% | — | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | 2.3% | — | ||
| Q1 24 | 3.2% | 212.4% |
现金转化率TEVAVG
| Q4 25 | 2.41× | 1.77× | ||
| Q3 25 | 0.85× | 3.42× | ||
| Q2 25 | 0.80× | 3.07× | ||
| Q1 25 | -0.49× | 2.15× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.91× |
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% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
