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福泰制药（VRTX）与Wabtec（WAB）财务数据对比。点击上方公司名可切换其他公司
福泰制药的季度营收约是Wabtec的1.1倍（$3.2B vs $3.0B），福泰制药净利率更高（37.3% vs 12.3%，领先25.0%），Wabtec同比增速更快（13.0% vs 9.5%），过去两年福泰制药的营收复合增速更高（8.9% vs 5.6%）
福泰制药是总部位于美国马萨诸塞州波士顿的生物制药企业，是全球首批明确采用理性药物设计策略、而非组合化学方法开发药物的生物技术公司之一。除波士顿总部外，公司还在加州圣迭戈、英国牛津郡米尔顿公园设有三处研发中心。
西屋空气制动技术公司（通称Wabtec）是美国知名轨道交通设备企业，1999年由西屋空气制动公司（WABCO）与动力设备厂商MotivePower合并组建，总部设于宾夕法尼亚州匹兹堡，在全球轨交制动系统、牵引动力设备等领域拥有领先的技术实力与市场份额。
VRTX vs WAB — 直观对比
营收规模更大
VRTX
是对方的1.1倍
$3.0B
营收增速更快
WAB
高出3.5%
9.5%
净利率更高
VRTX
高出25.0%
12.3%
两年增速更快
VRTX
近两年复合增速
5.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $3.0B |
| 净利润 | $1.2B | $363.0M |
| 毛利率 | 85.4% | 36.0% |
| 营业利润率 | 37.8% | 17.5% |
| 净利率 | 37.3% | 12.3% |
| 营收同比 | 9.5% | 13.0% |
| 净利润同比 | 30.5% | 11.0% |
| 每股收益（稀释后） | $4.64 | $2.12 |
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VRTXWAB
| Q1 26 | — | $3.0B | ||
| Q4 25 | $3.2B | $3.0B | ||
| Q3 25 | $3.1B | $2.9B | ||
| Q2 25 | $3.0B | $2.7B | ||
| Q1 25 | $2.8B | $2.6B | ||
| Q4 24 | $2.9B | $2.6B | ||
| Q3 24 | $2.8B | $2.7B | ||
| Q2 24 | $2.6B | $2.6B |
净利润VRTXWAB
| Q1 26 | — | $363.0M | ||
| Q4 25 | $1.2B | $202.0M | ||
| Q3 25 | $1.1B | $310.0M | ||
| Q2 25 | $1.0B | $336.0M | ||
| Q1 25 | $646.3M | $322.0M | ||
| Q4 24 | $913.0M | $212.0M | ||
| Q3 24 | $1.0B | $283.0M | ||
| Q2 24 | $-3.6B | $289.0M |
毛利率VRTXWAB
| Q1 26 | — | 36.0% | ||
| Q4 25 | 85.4% | 32.6% | ||
| Q3 25 | 86.5% | 34.7% | ||
| Q2 25 | 86.3% | 34.7% | ||
| Q1 25 | 86.9% | 34.5% | ||
| Q4 24 | 85.5% | 30.9% | ||
| Q3 24 | 85.8% | 33.0% | ||
| Q2 24 | 85.9% | 33.1% |
营业利润率VRTXWAB
| Q1 26 | — | 17.5% | ||
| Q4 25 | 37.8% | 12.0% | ||
| Q3 25 | 38.6% | 17.0% | ||
| Q2 25 | 38.8% | 17.4% | ||
| Q1 25 | 22.7% | 18.2% | ||
| Q4 24 | 35.2% | 12.9% | ||
| Q3 24 | 40.3% | 16.3% | ||
| Q2 24 | -132.9% | 16.3% |
净利率VRTXWAB
| Q1 26 | — | 12.3% | ||
| Q4 25 | 37.3% | 6.8% | ||
| Q3 25 | 35.2% | 10.7% | ||
| Q2 25 | 34.8% | 12.4% | ||
| Q1 25 | 23.3% | 12.3% | ||
| Q4 24 | 31.4% | 8.2% | ||
| Q3 24 | 37.7% | 10.6% | ||
| Q2 24 | -135.8% | 10.9% |
每股收益（稀释后）VRTXWAB
| Q1 26 | — | $2.12 | ||
| Q4 25 | $4.64 | $1.18 | ||
| Q3 25 | $4.20 | $1.81 | ||
| Q2 25 | $3.99 | $1.96 | ||
| Q1 25 | $2.49 | $1.88 | ||
| Q4 24 | $3.62 | $1.24 | ||
| Q3 24 | $4.01 | $1.63 | ||
| Q2 24 | $-13.92 | $1.64 |
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 | $6.6B | — |
| 总债务越低越好 | — | $4.7B |
| 股东权益账面价值 | $18.7B | $11.1B |
| 总资产 | $25.6B | $23.2B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资VRTXWAB
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | — | ||
| Q3 25 | $6.3B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.2B | — | ||
| Q4 24 | $6.1B | — | ||
| Q3 24 | $6.5B | — | ||
| Q2 24 | $5.8B | — |
总债务VRTXWAB
| Q1 26 | — | $4.7B | ||
| Q4 25 | — | $5.5B | ||
| Q3 25 | — | $5.3B | ||
| Q2 25 | — | $4.8B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.0B |
股东权益VRTXWAB
| Q1 26 | — | $11.1B | ||
| Q4 25 | $18.7B | $11.1B | ||
| Q3 25 | $17.3B | $11.0B | ||
| Q2 25 | $17.2B | $10.8B | ||
| Q1 25 | $16.5B | $10.4B | ||
| Q4 24 | $16.4B | $10.1B | ||
| Q3 24 | $15.6B | $10.3B | ||
| Q2 24 | $14.8B | $10.5B |
总资产VRTXWAB
| Q1 26 | — | $23.2B | ||
| Q4 25 | $25.6B | $22.1B | ||
| Q3 25 | $24.9B | $21.5B | ||
| Q2 25 | $24.0B | $20.4B | ||
| Q1 25 | $22.9B | $19.1B | ||
| Q4 24 | $22.5B | $18.7B | ||
| Q3 24 | $22.2B | $18.6B | ||
| Q2 24 | $20.1B | $18.9B |
负债/权益比VRTXWAB
| Q1 26 | — | 0.42× | ||
| Q4 25 | — | 0.50× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | 0.38× |
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 | $498.0M | $199.0M |
| 自由现金流经营现金流 - 资本支出 | $348.6M | — |
| 自由现金流率自由现金流/营收 | 10.9% | — |
| 资本支出强度资本支出/营收 | 4.7% | — |
| 现金转化率经营现金流/净利润 | 0.42× | 0.55× |
| 过去12个月自由现金流最近4个季度 | $3.2B | — |
8季度趋势，按日历期对齐
经营现金流VRTXWAB
| Q1 26 | — | $199.0M | ||
| Q4 25 | $498.0M | $992.0M | ||
| Q3 25 | $1.2B | $367.0M | ||
| Q2 25 | $1.1B | $209.0M | ||
| Q1 25 | $818.9M | $191.0M | ||
| Q4 24 | $584.6M | $723.0M | ||
| Q3 24 | $1.4B | $542.0M | ||
| Q2 24 | $-3.8B | $235.0M |
自由现金流VRTXWAB
| Q1 26 | — | — | ||
| Q4 25 | $348.6M | $870.0M | ||
| Q3 25 | $1.1B | $312.0M | ||
| Q2 25 | $927.4M | $170.0M | ||
| Q1 25 | $778.2M | $147.0M | ||
| Q4 24 | $492.0M | $639.0M | ||
| Q3 24 | $1.3B | $496.0M | ||
| Q2 24 | $-3.8B | $189.0M |
自由现金流率VRTXWAB
| Q1 26 | — | — | ||
| Q4 25 | 10.9% | 29.3% | ||
| Q3 25 | 37.0% | 10.8% | ||
| Q2 25 | 31.3% | 6.3% | ||
| Q1 25 | 28.1% | 5.6% | ||
| Q4 24 | 16.9% | 24.7% | ||
| Q3 24 | 47.0% | 18.6% | ||
| Q2 24 | -144.5% | 7.1% |
资本支出强度VRTXWAB
| Q1 26 | — | — | ||
| Q4 25 | 4.7% | 4.1% | ||
| Q3 25 | 3.3% | 1.9% | ||
| Q2 25 | 4.9% | 1.4% | ||
| Q1 25 | 1.5% | 1.7% | ||
| Q4 24 | 3.2% | 3.3% | ||
| Q3 24 | 2.4% | 1.7% | ||
| Q2 24 | 2.6% | 1.7% |
现金转化率VRTXWAB
| Q1 26 | — | 0.55× | ||
| Q4 25 | 0.42× | 4.91× | ||
| Q3 25 | 1.15× | 1.18× | ||
| Q2 25 | 1.04× | 0.62× | ||
| Q1 25 | 1.27× | 0.59× | ||
| Q4 24 | 0.64× | 3.41× | ||
| Q3 24 | 1.31× | 1.92× | ||
| Q2 24 | — | 0.81× |
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
VRTX
| TRIKAFTAKAFTRIO | $2.6B | 81% |
| ALYFTREK | $380.1M | 12% |
| Manufactured Product Other | $237.4M | 7% |
WAB
暂无分部数据
