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梯瓦制药（TEVA）与Xcel Energy（XEL）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Xcel Energy的1.3倍（$4.7B vs $3.6B），Xcel Energy净利率更高（15.9% vs 10.2%，领先5.7%），Xcel Energy同比增速更快（14.1% vs 11.4%），梯瓦制药自由现金流更多（$1.0B vs $-3.2B），过去两年梯瓦制药的营收复合增速更高（11.1% vs -1.2%）
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。
Xcel Energy是总部位于美国明尼苏达州明尼阿波利斯的受监管电力及天然气供应企业，截至2025年中业务覆盖美国八个州的部分区域，共服务约390万电力用户、220万天然气用户，旗下设有四家运营子公司。
TEVA vs XEL — 直观对比
营收规模更大
TEVA
是对方的1.3倍
$3.6B
营收增速更快
XEL
高出2.7%
11.4%
净利率更高
XEL
高出5.7%
10.2%
自由现金流更多
TEVA
多$4.2B
$-3.2B
两年增速更快
TEVA
近两年复合增速
-1.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $3.6B |
| 净利润 | $481.0M | $567.0M |
| 毛利率 | 56.4% | — |
| 营业利润率 | 6.4% | 16.3% |
| 净利率 | 10.2% | 15.9% |
| 营收同比 | 11.4% | 14.1% |
| 净利润同比 | 321.7% | 22.2% |
| 每股收益（稀释后） | $0.42 | $0.95 |
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TEVAXEL
| Q4 25 | $4.7B | $3.6B | ||
| Q3 25 | $4.5B | $3.9B | ||
| Q2 25 | $4.2B | $3.3B | ||
| Q1 25 | $3.9B | $3.9B | ||
| Q4 24 | $4.2B | $3.1B | ||
| Q3 24 | $4.3B | $3.6B | ||
| Q2 24 | $4.2B | $3.0B | ||
| Q1 24 | $3.8B | $3.6B |
净利润TEVAXEL
| Q4 25 | $481.0M | $567.0M | ||
| Q3 25 | $433.0M | $524.0M | ||
| Q2 25 | $282.0M | $444.0M | ||
| Q1 25 | $214.0M | $483.0M | ||
| Q4 24 | $-217.0M | $464.0M | ||
| Q3 24 | $-437.0M | $682.0M | ||
| Q2 24 | $-846.0M | $302.0M | ||
| Q1 24 | $-139.0M | $488.0M |
毛利率TEVAXEL
| 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TEVAXEL
| Q4 25 | 6.4% | 16.3% | ||
| Q3 25 | 19.7% | 19.1% | ||
| Q2 25 | 10.9% | 17.6% | ||
| Q1 25 | 13.3% | 17.3% | ||
| Q4 24 | -0.7% | 11.1% | ||
| Q3 24 | -1.2% | 25.0% | ||
| Q2 24 | -0.1% | 14.8% | ||
| Q1 24 | -5.7% | 18.6% |
净利率TEVAXEL
| Q4 25 | 10.2% | 15.9% | ||
| Q3 25 | 9.7% | 13.4% | ||
| Q2 25 | 6.8% | 13.5% | ||
| Q1 25 | 5.5% | 12.4% | ||
| Q4 24 | -5.1% | 14.9% | ||
| Q3 24 | -10.1% | 18.7% | ||
| Q2 24 | -20.3% | 10.0% | ||
| Q1 24 | -3.6% | 13.4% |
每股收益（稀释后）TEVAXEL
| Q4 25 | $0.42 | $0.95 | ||
| Q3 25 | $0.37 | $0.88 | ||
| Q2 25 | $0.24 | $0.75 | ||
| Q1 25 | $0.18 | $0.84 | ||
| Q4 24 | $-0.19 | $0.81 | ||
| Q3 24 | $-0.39 | $1.21 | ||
| Q2 24 | $-0.75 | $0.54 | ||
| Q1 24 | $-0.12 | $0.88 |
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 | — |
| 总债务越低越好 | — | $31.8B |
| 股东权益账面价值 | $7.9B | $23.6B |
| 总资产 | $40.7B | $81.4B |
| 负债/权益比越低杠杆越低 | — | 1.35× |
8季度趋势，按日历期对齐
现金及短期投资TEVAXEL
| Q4 25 | $3.6B | — | ||
| Q3 25 | $2.2B | $1.1B | ||
| Q2 25 | $2.2B | $1.5B | ||
| Q1 25 | $1.7B | $1.1B | ||
| Q4 24 | $3.3B | $179.0M | ||
| Q3 24 | $3.3B | $1.5B | ||
| Q2 24 | $2.3B | $1.6B | ||
| Q1 24 | $3.0B | $501.0M |
总债务TEVAXEL
| Q4 25 | — | $31.8B | ||
| Q3 25 | — | $32.0B | ||
| Q2 25 | — | $31.1B | ||
| Q1 25 | — | $29.4B | ||
| Q4 24 | — | $27.3B | ||
| Q3 24 | — | $27.5B | ||
| Q2 24 | — | $27.7B | ||
| Q1 24 | — | $26.4B |
股东权益TEVAXEL
| Q4 25 | $7.9B | $23.6B | ||
| Q3 25 | $7.3B | $21.2B | ||
| Q2 25 | $6.8B | $21.0B | ||
| Q1 25 | $6.3B | $19.8B | ||
| Q4 24 | $5.4B | $19.5B | ||
| Q3 24 | $6.1B | $19.4B | ||
| Q2 24 | $6.4B | $18.0B | ||
| Q1 24 | $7.3B | $17.8B |
总资产TEVAXEL
| Q4 25 | $40.7B | $81.4B | ||
| Q3 25 | $39.9B | $79.2B | ||
| Q2 25 | $40.1B | $75.3B | ||
| Q1 25 | $38.4B | $72.7B | ||
| Q4 24 | $39.3B | $70.0B | ||
| Q3 24 | $41.8B | $69.3B | ||
| Q2 24 | $41.3B | $67.9B | ||
| Q1 24 | $42.8B | $65.6B |
负债/权益比TEVAXEL
| Q4 25 | — | 1.35× | ||
| Q3 25 | — | 1.51× | ||
| Q2 25 | — | 1.48× | ||
| Q1 25 | — | 1.48× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 1.42× | ||
| Q2 24 | — | 1.54× | ||
| Q1 24 | — | 1.48× |
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 | $209.0M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $-3.2B |
| 自由现金流率自由现金流/营收 | 21.6% | -90.7% |
| 资本支出强度资本支出/营收 | 3.0% | 96.5% |
| 现金转化率经营现金流/净利润 | 2.41× | 0.37× |
| 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TEVAXEL
| Q4 25 | $1.2B | $209.0M | ||
| Q3 25 | $369.0M | $1.8B | ||
| Q2 25 | $227.0M | $1.1B | ||
| Q1 25 | $-105.0M | $1.0B | ||
| Q4 24 | $575.0M | $664.0M | ||
| Q3 24 | $693.0M | $1.7B | ||
| Q2 24 | $103.0M | $1.2B | ||
| Q1 24 | $-124.0M | $1.1B |
自由现金流TEVAXEL
| Q4 25 | $1.0B | $-3.2B | ||
| Q3 25 | $233.0M | $-1.3B | ||
| Q2 25 | $131.0M | $-1.3B | ||
| Q1 25 | $-232.0M | $-960.0M | ||
| Q4 24 | $446.0M | $-1.6B | ||
| Q3 24 | $545.0M | $-42.0M | ||
| Q2 24 | $6.0M | $-641.0M | ||
| Q1 24 | $-248.0M | $-487.0M |
自由现金流率TEVAXEL
| Q4 25 | 21.6% | -90.7% | ||
| Q3 25 | 5.2% | -33.0% | ||
| Q2 25 | 3.1% | -40.9% | ||
| Q1 25 | -6.0% | -24.6% | ||
| Q4 24 | 10.5% | -49.8% | ||
| Q3 24 | 12.6% | -1.2% | ||
| Q2 24 | 0.1% | -21.2% | ||
| Q1 24 | -6.5% | -13.3% |
资本支出强度TEVAXEL
| Q4 25 | 3.0% | 96.5% | ||
| Q3 25 | 3.0% | 78.0% | ||
| Q2 25 | 2.3% | 73.8% | ||
| Q1 25 | 3.3% | 50.9% | ||
| Q4 24 | 3.1% | 71.1% | ||
| Q3 24 | 3.4% | 48.8% | ||
| Q2 24 | 2.3% | 60.5% | ||
| Q1 24 | 3.2% | 42.1% |
现金转化率TEVAXEL
| Q4 25 | 2.41× | 0.37× | ||
| Q3 25 | 0.85× | 3.37× | ||
| Q2 25 | 0.80× | 2.43× | ||
| Q1 25 | -0.49× | 2.13× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 2.55× | ||
| Q2 24 | — | 3.94× | ||
| Q1 24 | — | 2.15× |
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% |
XEL
| Retail Distribution | $2.3B | 64% |
| Regulated Natural Gas Segment | $737.0M | 21% |
| Alternativeand Other | $212.0M | 6% |
| Transmission Services | $164.0M | 5% |
| Wholesale Distribution | $159.0M | 4% |
| Other Services | $8.0M | 0% |
