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盛美半导体（ACMR）与REPLIGEN CORP（RGEN）财务数据对比。点击上方公司名可切换其他公司
盛美半导体的季度营收约是REPLIGEN CORP的1.2倍（$244.4M vs $197.9M），REPLIGEN CORP净利率更高（6.7% vs 3.3%，领先3.4%），REPLIGEN CORP同比增速更快（13.6% vs 9.4%），盛美半导体自由现金流更多（$20.1M vs $17.6M），过去两年盛美半导体的营收复合增速更高（26.7% vs 14.4%）
盛美半导体（ACM Research, Inc.）是全球领先的半导体制造设备供应商，专注于研发、生产及销售晶圆湿法处理相关设备，覆盖清洗、电镀、刻蚀等品类，产品广泛应用于逻辑、存储、功率等各类先进芯片的生产流程，服务全球多地区芯片制造企业。
Repligen是一家全球生命科学企业，专注于创新生物工艺技术与系统的研发及商业化，助力提升生物药生产效率。公司1981年成立，总部位于美国马萨诸塞州沃尔瑟姆，于纳斯达克挂牌上市，股票代码RGEN，截至2025年全球员工超1900人，主要服务生物制药领域客户。
ACMR vs RGEN — 直观对比
营收规模更大
ACMR
是对方的1.2倍
$197.9M
营收增速更快
RGEN
高出4.3%
9.4%
净利率更高
RGEN
高出3.4%
3.3%
自由现金流更多
ACMR
多$2.6M
$17.6M
两年增速更快
ACMR
近两年复合增速
14.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $244.4M | $197.9M |
| 净利润 | $8.0M | $13.3M |
| 毛利率 | 40.9% | 52.5% |
| 营业利润率 | 9.4% | 9.0% |
| 净利率 | 3.3% | 6.7% |
| 营收同比 | 9.4% | 13.6% |
| 净利润同比 | -74.1% | 143.9% |
| 每股收益（稀释后） | $0.11 | $0.24 |
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ACMRRGEN
| Q4 25 | $244.4M | $197.9M | ||
| Q3 25 | $269.2M | $188.8M | ||
| Q2 25 | $215.4M | $182.4M | ||
| Q1 25 | $172.3M | $169.2M | ||
| Q4 24 | $223.5M | $174.1M | ||
| Q3 24 | $204.0M | $154.9M | ||
| Q2 24 | $202.5M | $154.1M | ||
| Q1 24 | $152.2M | $151.3M |
净利润ACMRRGEN
| Q4 25 | $8.0M | $13.3M | ||
| Q3 25 | $35.9M | $14.9M | ||
| Q2 25 | $29.8M | $14.9M | ||
| Q1 25 | $20.4M | $5.8M | ||
| Q4 24 | $31.1M | $-30.3M | ||
| Q3 24 | $30.9M | $-654.0K | ||
| Q2 24 | $24.2M | $3.3M | ||
| Q1 24 | $17.4M | $2.1M |
毛利率ACMRRGEN
| Q4 25 | 40.9% | 52.5% | ||
| Q3 25 | 42.0% | 53.2% | ||
| Q2 25 | 48.5% | 50.0% | ||
| Q1 25 | 47.9% | 53.6% | ||
| Q4 24 | 49.6% | 26.1% | ||
| Q3 24 | 51.4% | 50.0% | ||
| Q2 24 | 47.8% | 49.8% | ||
| Q1 24 | 52.0% | 49.5% |
营业利润率ACMRRGEN
| Q4 25 | 9.4% | 9.0% | ||
| Q3 25 | 10.7% | 8.9% | ||
| Q2 25 | 14.7% | 7.6% | ||
| Q1 25 | 15.0% | 3.9% | ||
| Q4 24 | 19.7% | -17.7% | ||
| Q3 24 | 21.7% | -5.1% | ||
| Q2 24 | 18.6% | 1.0% | ||
| Q1 24 | 16.6% | 1.3% |
净利率ACMRRGEN
| Q4 25 | 3.3% | 6.7% | ||
| Q3 25 | 13.3% | 7.9% | ||
| Q2 25 | 13.8% | 8.2% | ||
| Q1 25 | 11.8% | 3.4% | ||
| Q4 24 | 13.9% | -17.4% | ||
| Q3 24 | 15.2% | -0.4% | ||
| Q2 24 | 12.0% | 2.2% | ||
| Q1 24 | 11.5% | 1.4% |
每股收益（稀释后）ACMRRGEN
| Q4 25 | $0.11 | $0.24 | ||
| Q3 25 | $0.52 | $0.26 | ||
| Q2 25 | $0.44 | $0.26 | ||
| Q1 25 | $0.30 | $0.10 | ||
| Q4 24 | $0.47 | $-0.55 | ||
| Q3 24 | $0.45 | $-0.01 | ||
| Q2 24 | $0.35 | $0.06 | ||
| Q1 24 | $0.26 | $0.04 |
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 | $792.9M | $767.6M |
| 总债务越低越好 | $214.0M | $542.2M |
| 股东权益账面价值 | $1.5B | $2.1B |
| 总资产 | $2.9B | $2.9B |
| 负债/权益比越低杠杆越低 | 0.15× | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资ACMRRGEN
| Q4 25 | $792.9M | $767.6M | ||
| Q3 25 | $1.1B | $748.7M | ||
| Q2 25 | $463.2M | $708.9M | ||
| Q1 25 | $475.6M | $697.2M | ||
| Q4 24 | $426.8M | $757.4M | ||
| Q3 24 | $353.8M | $784.0M | ||
| Q2 24 | $343.6M | $809.1M | ||
| Q1 24 | $230.0M | $780.6M |
总债务ACMRRGEN
| Q4 25 | $214.0M | $542.2M | ||
| Q3 25 | $242.0M | $537.9M | ||
| Q2 25 | $225.1M | — | ||
| Q1 25 | $202.5M | — | ||
| Q4 24 | $150.0M | $525.6M | ||
| Q3 24 | $150.0M | — | ||
| Q2 24 | $90.5M | — | ||
| Q1 24 | $60.0M | — |
股东权益ACMRRGEN
| Q4 25 | $1.5B | $2.1B | ||
| Q3 25 | $1.4B | $2.1B | ||
| Q2 25 | $986.5M | $2.1B | ||
| Q1 25 | $949.1M | $2.0B | ||
| Q4 24 | $904.6M | $2.0B | ||
| Q3 24 | $888.2M | $2.0B | ||
| Q2 24 | $833.2M | $2.0B | ||
| Q1 24 | $796.2M | $2.0B |
总资产ACMRRGEN
| Q4 25 | $2.9B | $2.9B | ||
| Q3 25 | $2.8B | $2.9B | ||
| Q2 25 | $2.0B | $2.9B | ||
| Q1 25 | $1.9B | $2.9B | ||
| Q4 24 | $1.9B | $2.8B | ||
| Q3 24 | $1.8B | $2.8B | ||
| Q2 24 | $1.7B | $2.9B | ||
| Q1 24 | $1.6B | $2.8B |
负债/权益比ACMRRGEN
| Q4 25 | 0.15× | 0.26× | ||
| Q3 25 | 0.17× | 0.26× | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | 0.21× | — | ||
| Q4 24 | 0.17× | 0.27× | ||
| Q3 24 | 0.17× | — | ||
| Q2 24 | 0.11× | — | ||
| Q1 24 | 0.08× | — |
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 | $33.9M | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $20.1M | $17.6M |
| 自由现金流率自由现金流/营收 | 8.2% | 8.9% |
| 资本支出强度资本支出/营收 | 5.6% | 4.1% |
| 现金转化率经营现金流/净利润 | 4.21× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $-66.6M | $93.9M |
8季度趋势，按日历期对齐
经营现金流ACMRRGEN
| Q4 25 | $33.9M | $25.7M | ||
| Q3 25 | $-4.6M | $48.1M | ||
| Q2 25 | $-44.9M | $28.6M | ||
| Q1 25 | $5.3M | $15.0M | ||
| Q4 24 | $88.6M | $39.2M | ||
| Q3 24 | $11.9M | $49.3M | ||
| Q2 24 | $61.6M | $42.2M | ||
| Q1 24 | $-9.6M | $44.7M |
自由现金流ACMRRGEN
| Q4 25 | $20.1M | $17.6M | ||
| Q3 25 | $-15.6M | $43.4M | ||
| Q2 25 | $-59.6M | $21.5M | ||
| Q1 25 | $-11.4M | $11.4M | ||
| Q4 24 | $77.2M | $33.6M | ||
| Q3 24 | $-20.6M | $42.3M | ||
| Q2 24 | $48.5M | $37.4M | ||
| Q1 24 | $-35.1M | $36.4M |
自由现金流率ACMRRGEN
| Q4 25 | 8.2% | 8.9% | ||
| Q3 25 | -5.8% | 23.0% | ||
| Q2 25 | -27.7% | 11.8% | ||
| Q1 25 | -6.6% | 6.8% | ||
| Q4 24 | 34.5% | 19.3% | ||
| Q3 24 | -10.1% | 27.3% | ||
| Q2 24 | 24.0% | 24.3% | ||
| Q1 24 | -23.0% | 24.0% |
资本支出强度ACMRRGEN
| Q4 25 | 5.6% | 4.1% | ||
| Q3 25 | 4.1% | 2.5% | ||
| Q2 25 | 6.8% | 3.9% | ||
| Q1 25 | 9.7% | 2.1% | ||
| Q4 24 | 5.1% | 3.2% | ||
| Q3 24 | 16.0% | 4.5% | ||
| Q2 24 | 6.5% | 3.1% | ||
| Q1 24 | 16.7% | 5.5% |
现金转化率ACMRRGEN
| Q4 25 | 4.21× | 1.93× | ||
| Q3 25 | -0.13× | 3.23× | ||
| Q2 25 | -1.51× | 1.92× | ||
| Q1 25 | 0.26× | 2.57× | ||
| Q4 24 | 2.85× | — | ||
| Q3 24 | 0.39× | — | ||
| Q2 24 | 2.54× | 12.70× | ||
| Q1 24 | -0.55× | 21.35× |
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
ACMR
| Total Single Wafer And Semi Critical Cleaning Equipment | $159.9M | 65% |
| ECP Front End And Packaging Furnace And Other Technologies | $64.1M | 26% |
| Advanced Packaging Exclude ECP Services Spares | $20.5M | 8% |
RGEN
暂无分部数据
