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ACV Auctions Inc.（ACVA）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
ACV Auctions Inc.的季度营收约是再鼎医药的1.4倍（$183.6M vs $127.1M），再鼎医药同比增速更快（17.1% vs 15.1%），ACV Auctions Inc.自由现金流更多（$-14.7M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 12.3%）
ACV Auctions Inc.是北美领先的数字化二手车批发拍卖平台，主要服务美加两地汽车经销商，提供车辆透明检测、安全支付、物流配送等全链条服务，助力注册批发买卖双方无需线下到场即可高效完成二手车交易。
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。
ACVA vs ZLAB — 直观对比
营收规模更大
ACVA
是对方的1.4倍
$127.1M
营收增速更快
ZLAB
高出2.0%
15.1%
自由现金流更多
ACVA
多$12.0M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $183.6M | $127.1M |
| 净利润 | — | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | -9.7% | -54.6% |
| 净利率 | — | — |
| 营收同比 | 15.1% | 17.1% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $-0.12 | $-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ACVAZLAB
| Q4 25 | $183.6M | $127.1M | ||
| Q3 25 | $199.6M | $115.4M | ||
| Q2 25 | $193.7M | $109.1M | ||
| Q1 25 | $182.7M | $105.7M | ||
| Q4 24 | $159.5M | $108.5M | ||
| Q3 24 | $171.3M | $101.8M | ||
| Q2 24 | $160.6M | $100.1M | ||
| Q1 24 | $145.7M | $87.1M |
净利润ACVAZLAB
| Q4 25 | — | — | ||
| Q3 25 | $-24.5M | $-36.0M | ||
| Q2 25 | $-7.3M | $-40.7M | ||
| Q1 25 | $-14.8M | $-48.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-16.0M | $-41.7M | ||
| Q2 24 | $-17.1M | $-80.3M | ||
| Q1 24 | $-20.5M | $-53.5M |
毛利率ACVAZLAB
| Q4 25 | — | 51.0% | ||
| Q3 25 | — | 59.5% | ||
| Q2 25 | — | 60.6% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 64.1% | ||
| Q2 24 | — | 64.9% | ||
| Q1 24 | — | 61.4% |
营业利润率ACVAZLAB
| Q4 25 | -9.7% | -54.6% | ||
| Q3 25 | -11.9% | -42.3% | ||
| Q2 25 | -3.7% | -50.3% | ||
| Q1 25 | -7.9% | -53.3% | ||
| Q4 24 | -16.2% | -62.6% | ||
| Q3 24 | -10.0% | -66.6% | ||
| Q2 24 | -11.6% | -76.0% | ||
| Q1 24 | -15.5% | -80.7% |
净利率ACVAZLAB
| Q4 25 | — | — | ||
| Q3 25 | -12.3% | -31.2% | ||
| Q2 25 | -3.8% | -37.3% | ||
| Q1 25 | -8.1% | -45.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | -9.4% | -40.9% | ||
| Q2 24 | -10.6% | -80.2% | ||
| Q1 24 | -14.1% | -61.4% |
每股收益（稀释后）ACVAZLAB
| Q4 25 | $-0.12 | $-0.05 | ||
| Q3 25 | $-0.14 | $-0.03 | ||
| Q2 25 | $-0.04 | $-0.04 | ||
| Q1 25 | $-0.09 | $-0.04 | ||
| Q4 24 | $-0.15 | $-0.09 | ||
| Q3 24 | $-0.10 | $-0.04 | ||
| Q2 24 | $-0.10 | $-0.08 | ||
| Q1 24 | $-0.13 | $-0.05 |
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 | $271.5M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $429.7M | $715.5M |
| 总资产 | $1.1B | $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ACVAZLAB
| Q4 25 | $271.5M | $689.6M | ||
| Q3 25 | $265.3M | $717.2M | ||
| Q2 25 | $258.4M | $732.2M | ||
| Q1 25 | $291.9M | $757.3M | ||
| Q4 24 | $224.1M | $779.7M | ||
| Q3 24 | $252.5M | $616.1M | ||
| Q2 24 | $215.0M | $630.0M | ||
| Q1 24 | $209.8M | $650.8M |
股东权益ACVAZLAB
| Q4 25 | $429.7M | $715.5M | ||
| Q3 25 | $434.4M | $759.9M | ||
| Q2 25 | $448.8M | $791.7M | ||
| Q1 25 | $439.6M | $810.8M | ||
| Q4 24 | $440.0M | $840.9M | ||
| Q3 24 | $456.2M | $667.7M | ||
| Q2 24 | $457.6M | $704.2M | ||
| Q1 24 | $458.3M | $762.2M |
总资产ACVAZLAB
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $984.1M | $1.2B | ||
| Q3 24 | $1.0B | $985.3M | ||
| Q2 24 | $1.0B | $987.4M | ||
| Q1 24 | $1.0B | $988.4M |
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 | $-12.4M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-14.7M | $-26.7M |
| 自由现金流率自由现金流/营收 | -8.0% | -21.0% |
| 资本支出强度资本支出/营收 | 1.2% | 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 | $69.1M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流ACVAZLAB
| Q4 25 | $-12.4M | $-26.0M | ||
| Q3 25 | $10.3M | $-32.0M | ||
| Q2 25 | $13.7M | $-31.0M | ||
| Q1 25 | $66.6M | $-61.7M | ||
| Q4 24 | $-3.2M | $-55.8M | ||
| Q3 24 | $21.1M | $-26.8M | ||
| Q2 24 | $4.5M | $-42.2M | ||
| Q1 24 | $43.0M | $-90.1M |
自由现金流ACVAZLAB
| Q4 25 | $-14.7M | $-26.7M | ||
| Q3 25 | $7.7M | $-35.0M | ||
| Q2 25 | $10.9M | $-33.9M | ||
| Q1 25 | $65.3M | $-63.2M | ||
| Q4 24 | $-3.9M | $-58.4M | ||
| Q3 24 | $20.2M | $-28.2M | ||
| Q2 24 | $2.7M | $-42.9M | ||
| Q1 24 | $41.9M | $-91.1M |
自由现金流率ACVAZLAB
| Q4 25 | -8.0% | -21.0% | ||
| Q3 25 | 3.8% | -30.4% | ||
| Q2 25 | 5.6% | -31.1% | ||
| Q1 25 | 35.7% | -59.9% | ||
| Q4 24 | -2.5% | -53.8% | ||
| Q3 24 | 11.8% | -27.7% | ||
| Q2 24 | 1.7% | -42.9% | ||
| Q1 24 | 28.8% | -104.5% |
资本支出强度ACVAZLAB
| Q4 25 | 1.2% | 0.5% | ||
| Q3 25 | 1.3% | 2.6% | ||
| Q2 25 | 1.5% | 2.6% | ||
| Q1 25 | 0.7% | 1.5% | ||
| Q4 24 | 0.4% | 2.4% | ||
| Q3 24 | 0.6% | 1.3% | ||
| Q2 24 | 1.1% | 0.7% | ||
| Q1 24 | 0.7% | 1.1% |
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
ACVA
| Auction Marketplace Revenue | $77.6M | 42% |
| Other Marketplace Revenue | $72.4M | 39% |
| Customer Assurance | $24.1M | 13% |
| Data Services Revenue | $9.4M | 5% |
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% |
