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American Assets Trust, Inc.（AAT）与再鼎医药（ZLAB）财务数据对比。点击上方公司名可切换其他公司
再鼎医药的季度营收约是American Assets Trust, Inc.的1.1倍（$127.1M vs $110.6M），再鼎医药同比增速更快（17.1% vs 1.8%），过去两年再鼎医药的营收复合增速更高（20.8% vs -0.1%）
该公司是一家大型英国投资信托，在伦敦证券交易所上市，同时是富时250指数的成分股，现任董事长为获颁CBE勋章的伊恩·弗格森。
再鼎医药是一家创新生物制药企业，专注于肿瘤、自身免疫性疾病、感染性疾病等领域创新疗法的研发、生产与商业化，核心市场覆盖大中华区，与全球多家头部生物科技企业合作，为存在未被满足医疗需求的患者提供治疗方案。
AAT vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.1倍
$110.6M
营收增速更快
ZLAB
高出15.3%
1.8%
两年增速更快
ZLAB
近两年复合增速
-0.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $110.6M | $127.1M |
| 净利润 | $6.7M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | 23.4% | -54.6% |
| 净利率 | 6.1% | — |
| 营收同比 | 1.8% | 17.1% |
| 净利润同比 | -16.3% | — |
| 每股收益（稀释后） | $0.08 | $-0.05 |
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AATZLAB
| Q1 26 | $110.6M | — | ||
| Q4 25 | $110.1M | $127.1M | ||
| Q3 25 | $109.6M | $115.4M | ||
| Q2 25 | $107.9M | $109.1M | ||
| Q1 25 | $108.6M | $105.7M | ||
| Q4 24 | $113.5M | $108.5M | ||
| Q3 24 | $122.8M | $101.8M | ||
| Q2 24 | $110.9M | $100.1M |
净利润AATZLAB
| Q1 26 | $6.7M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $4.5M | $-36.0M | ||
| Q2 25 | $5.5M | $-40.7M | ||
| Q1 25 | $42.5M | $-48.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $16.7M | $-41.7M | ||
| Q2 24 | $11.9M | $-80.3M |
毛利率AATZLAB
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | 51.0% | ||
| Q3 25 | 60.5% | 59.5% | ||
| Q2 25 | 62.6% | 60.6% | ||
| Q1 25 | 62.0% | 63.6% | ||
| Q4 24 | 61.3% | 61.5% | ||
| Q3 24 | 65.5% | 64.1% | ||
| Q2 24 | 63.6% | 64.9% |
营业利润率AATZLAB
| Q1 26 | 23.4% | — | ||
| Q4 25 | 21.1% | -54.6% | ||
| Q3 25 | 22.6% | -42.3% | ||
| Q2 25 | 24.1% | -50.3% | ||
| Q1 25 | 66.3% | -53.3% | ||
| Q4 24 | 26.5% | -62.6% | ||
| Q3 24 | 30.8% | -66.6% | ||
| Q2 24 | 27.8% | -76.0% |
净利率AATZLAB
| Q1 26 | 6.1% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 4.1% | -31.2% | ||
| Q2 25 | 5.1% | -37.3% | ||
| Q1 25 | 39.2% | -45.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | 13.6% | -40.9% | ||
| Q2 24 | 10.7% | -80.2% |
每股收益（稀释后）AATZLAB
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.06 | $-0.05 | ||
| Q3 25 | $0.07 | $-0.03 | ||
| Q2 25 | $0.09 | $-0.04 | ||
| Q1 25 | $0.70 | $-0.04 | ||
| Q4 24 | $0.14 | $-0.09 | ||
| Q3 24 | $0.28 | $-0.04 | ||
| Q2 24 | $0.20 | $-0.08 |
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 | $118.3M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.1B | $715.5M |
| 总资产 | $2.9B | $1.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AATZLAB
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | $689.6M | ||
| Q3 25 | $138.7M | $717.2M | ||
| Q2 25 | $143.7M | $732.2M | ||
| Q1 25 | $143.9M | $757.3M | ||
| Q4 24 | $425.7M | $779.7M | ||
| Q3 24 | $533.0M | $616.1M | ||
| Q2 24 | $114.9M | $630.0M |
总债务AATZLAB
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AATZLAB
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $715.5M | ||
| Q3 25 | $1.2B | $759.9M | ||
| Q2 25 | $1.2B | $791.7M | ||
| Q1 25 | $1.2B | $810.8M | ||
| Q4 24 | $1.2B | $840.9M | ||
| Q3 24 | $1.2B | $667.7M | ||
| Q2 24 | $1.2B | $704.2M |
总资产AATZLAB
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $1.2B | ||
| Q3 25 | $2.9B | $1.2B | ||
| Q2 25 | $3.0B | $1.2B | ||
| Q1 25 | $3.0B | $1.2B | ||
| Q4 24 | $3.3B | $1.2B | ||
| Q3 24 | $3.4B | $985.3M | ||
| Q2 24 | $3.0B | $987.4M |
负债/权益比AATZLAB
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.72× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-26.7M |
| 自由现金流率自由现金流/营收 | — | -21.0% |
| 资本支出强度资本支出/营收 | 14.5% | 0.5% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $-158.9M |
8季度趋势，按日历期对齐
经营现金流AATZLAB
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | $-26.0M | ||
| Q3 25 | $40.5M | $-32.0M | ||
| Q2 25 | $49.2M | $-31.0M | ||
| Q1 25 | $36.9M | $-61.7M | ||
| Q4 24 | $207.1M | $-55.8M | ||
| Q3 24 | $52.4M | $-26.8M | ||
| Q2 24 | $59.3M | $-42.2M |
自由现金流AATZLAB
| Q1 26 | — | — | ||
| Q4 25 | $94.9M | $-26.7M | ||
| Q3 25 | $23.1M | $-35.0M | ||
| Q2 25 | $28.4M | $-33.9M | ||
| Q1 25 | $20.4M | $-63.2M | ||
| Q4 24 | $136.9M | $-58.4M | ||
| Q3 24 | $28.0M | $-28.2M | ||
| Q2 24 | $43.6M | $-42.9M |
自由现金流率AATZLAB
| Q1 26 | — | — | ||
| Q4 25 | 86.2% | -21.0% | ||
| Q3 25 | 21.1% | -30.4% | ||
| Q2 25 | 26.3% | -31.1% | ||
| Q1 25 | 18.8% | -59.9% | ||
| Q4 24 | 120.7% | -53.8% | ||
| Q3 24 | 22.8% | -27.7% | ||
| Q2 24 | 39.3% | -42.9% |
资本支出强度AATZLAB
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | 0.5% | ||
| Q3 25 | 15.9% | 2.6% | ||
| Q2 25 | 19.3% | 2.6% | ||
| Q1 25 | 15.1% | 1.5% | ||
| Q4 24 | 61.9% | 2.4% | ||
| Q3 24 | 19.9% | 1.3% | ||
| Q2 24 | 14.1% | 0.7% |
现金转化率AATZLAB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.98× | — | ||
| Q2 25 | 9.01× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.15× | — | ||
| Q2 24 | 4.98× | — |
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
AAT
| Rental income | $104.4M | 94% |
| Other | $6.2M | 6% |
ZLAB
| Zejula | $56.0M | 44% |
| Other | $21.9M | 17% |
| Nuzyra | $16.0M | 13% |
| Optune | $11.9M | 9% |
| XACDURO | $10.7M | 8% |
| Qinlock | $9.7M | 8% |
| AUGTYRO | $836.0K | 1% |
