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ADMA BIOLOGICS, INC.（ADMA）与AGENUS INC（AGEN）财务数据对比。点击上方公司名可切换其他公司
ADMA BIOLOGICS, INC.的季度营收约是AGENUS INC的4.1倍（$139.2M vs $34.2M）。ADMA BIOLOGICS, INC.净利率更高（35.5% vs -31.0%，领先66.5%）。AGENUS INC同比增速更快（27.5% vs 18.4%）。过去两年ADMA BIOLOGICS, INC.的营收复合增速更高（30.4% vs 10.5%）
ADMA生物制剂公司是一家专注于研发、生产及商业化特种血浆来源免疫球蛋白疗法的生物制药企业，主要面向美国市场，为原发性免疫缺陷及其他免疫相关疾病患者、医护人员和医疗机构提供免疫健康领域的治疗方案。
Agenus Inc.是一家总部位于美国马萨诸塞州列克星敦的生物技术公司，核心业务聚焦免疫治疗领域，尤其专注于利用人体免疫系统控制或治愈癌症的肿瘤免疫治疗。公司目前正在研发检查点调节剂、个性化抗癌疫苗，以及可适配多种疫苗的免疫佐剂，其中检查点调节剂作为当前进展迅速的方向，早期产品已为患者带来突破性临床获益。
ADMA vs AGEN — 直观对比
营收规模更大
ADMA
是对方的4.1倍
$34.2M
营收增速更快
AGEN
高出9.1%
18.4%
净利率更高
ADMA
高出66.5%
-31.0%
两年增速更快
ADMA
近两年复合增速
10.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $139.2M | $34.2M |
| 净利润 | $49.4M | $-10.6M |
| 毛利率 | 63.8% | — |
| 营业利润率 | 45.1% | 42.1% |
| 净利率 | 35.5% | -31.0% |
| 营收同比 | 18.4% | 27.5% |
| 净利润同比 | -55.9% | 77.3% |
| 每股收益（稀释后） | $0.20 | $0.09 |
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ADMAAGEN
| Q4 25 | $139.2M | $34.2M | ||
| Q3 25 | $134.2M | $30.2M | ||
| Q2 25 | $122.0M | $25.7M | ||
| Q1 25 | $114.8M | $24.1M | ||
| Q4 24 | $117.5M | $26.8M | ||
| Q3 24 | $119.8M | $25.1M | ||
| Q2 24 | $107.2M | $23.5M | ||
| Q1 24 | $81.9M | $28.0M |
净利润ADMAAGEN
| Q4 25 | $49.4M | $-10.6M | ||
| Q3 25 | $36.4M | $63.9M | ||
| Q2 25 | $34.2M | $-30.0M | ||
| Q1 25 | $26.9M | $-26.4M | ||
| Q4 24 | $111.9M | $-46.8M | ||
| Q3 24 | $35.9M | $-67.2M | ||
| Q2 24 | $32.1M | $-54.8M | ||
| Q1 24 | $17.8M | $-63.5M |
毛利率ADMAAGEN
| Q4 25 | 63.8% | — | ||
| Q3 25 | 56.3% | 97.9% | ||
| Q2 25 | 55.1% | 99.1% | ||
| Q1 25 | 53.2% | 99.4% | ||
| Q4 24 | 53.9% | 99.6% | ||
| Q3 24 | 49.8% | 99.4% | ||
| Q2 24 | 53.6% | 99.5% | ||
| Q1 24 | 47.8% | 99.6% |
营业利润率ADMAAGEN
| Q4 25 | 45.1% | 42.1% | ||
| Q3 25 | 38.0% | -15.0% | ||
| Q2 25 | 35.1% | -65.0% | ||
| Q1 25 | 30.4% | -55.3% | ||
| Q4 24 | 32.6% | -96.5% | ||
| Q3 24 | 33.1% | -125.5% | ||
| Q2 24 | 36.6% | -128.4% | ||
| Q1 24 | 26.7% | -117.4% |
净利率ADMAAGEN
| Q4 25 | 35.5% | -31.0% | ||
| Q3 25 | 27.1% | 211.4% | ||
| Q2 25 | 28.1% | -116.8% | ||
| Q1 25 | 23.4% | -109.6% | ||
| Q4 24 | 95.2% | -174.4% | ||
| Q3 24 | 30.0% | -267.7% | ||
| Q2 24 | 29.9% | -233.1% | ||
| Q1 24 | 21.7% | -226.6% |
每股收益（稀释后）ADMAAGEN
| Q4 25 | $0.20 | $0.09 | ||
| Q3 25 | $0.15 | $1.94 | ||
| Q2 25 | $0.14 | $-1.00 | ||
| Q1 25 | $0.11 | $-1.03 | ||
| Q4 24 | $0.45 | $-1.95 | ||
| Q3 24 | $0.15 | $-3.08 | ||
| Q2 24 | $0.13 | $-2.52 | ||
| Q1 24 | $0.08 | $-3.04 |
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 | $87.6M | $3.0M |
| 总债务越低越好 | $72.1M | $44.7M |
| 股东权益账面价值 | $477.3M | $-271.1M |
| 总资产 | $624.2M | $226.8M |
| 负债/权益比越低杠杆越低 | 0.15× | — |
8季度趋势，按日历期对齐
现金及短期投资ADMAAGEN
| Q4 25 | $87.6M | $3.0M | ||
| Q3 25 | $61.4M | $3.5M | ||
| Q2 25 | $90.3M | $9.5M | ||
| Q1 25 | $71.6M | $18.5M | ||
| Q4 24 | $103.1M | $40.4M | ||
| Q3 24 | $86.7M | $44.8M | ||
| Q2 24 | $88.2M | $93.7M | ||
| Q1 24 | $45.3M | $52.9M |
总债务ADMAAGEN
| Q4 25 | $72.1M | $44.7M | ||
| Q3 25 | $72.4M | $34.2M | ||
| Q2 25 | — | $33.9M | ||
| Q1 25 | — | $33.6M | ||
| Q4 24 | $72.3M | $33.2M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ADMAAGEN
| Q4 25 | $477.3M | $-271.1M | ||
| Q3 25 | $431.2M | $-274.1M | ||
| Q2 25 | $398.3M | $-354.6M | ||
| Q1 25 | $373.4M | $-341.8M | ||
| Q4 24 | $349.0M | $-326.4M | ||
| Q3 24 | $231.9M | $-292.3M | ||
| Q2 24 | $188.3M | $-241.3M | ||
| Q1 24 | $153.7M | $-201.4M |
总资产ADMAAGEN
| Q4 25 | $624.2M | $226.8M | ||
| Q3 25 | $568.7M | $233.9M | ||
| Q2 25 | $558.4M | $185.2M | ||
| Q1 25 | $510.6M | $200.2M | ||
| Q4 24 | $488.7M | $226.3M | ||
| Q3 24 | $390.6M | $238.5M | ||
| Q2 24 | $376.4M | $292.4M | ||
| Q1 24 | $350.9M | $256.6M |
负债/权益比ADMAAGEN
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $35.6M | $-16.6M |
| 自由现金流经营现金流 - 资本支出 | $34.6M | — |
| 自由现金流率自由现金流/营收 | 24.8% | — |
| 资本支出强度资本支出/营收 | 0.8% | 0.0% |
| 现金转化率经营现金流/净利润 | 0.72× | — |
| 过去12个月自由现金流最近4个季度 | $27.8M | — |
8季度趋势，按日历期对齐
经营现金流ADMAAGEN
| Q4 25 | $35.6M | $-16.6M | ||
| Q3 25 | $13.3M | $-14.7M | ||
| Q2 25 | $21.1M | $-20.2M | ||
| Q1 25 | $-19.7M | $-25.6M | ||
| Q4 24 | $50.2M | $-28.7M | ||
| Q3 24 | $25.0M | $-53.3M | ||
| Q2 24 | $45.6M | $-38.2M | ||
| Q1 24 | $-2.2M | $-38.2M |
自由现金流ADMAAGEN
| Q4 25 | $34.6M | — | ||
| Q3 25 | $-1.1M | — | ||
| Q2 25 | $18.7M | $-20.2M | ||
| Q1 25 | $-24.4M | $-25.6M | ||
| Q4 24 | $47.5M | $-28.7M | ||
| Q3 24 | $24.0M | $-53.3M | ||
| Q2 24 | $43.6M | $-38.6M | ||
| Q1 24 | $-4.6M | $-38.2M |
自由现金流率ADMAAGEN
| Q4 25 | 24.8% | — | ||
| Q3 25 | -0.8% | — | ||
| Q2 25 | 15.3% | -78.7% | ||
| Q1 25 | -21.2% | -106.5% | ||
| Q4 24 | 40.4% | -107.0% | ||
| Q3 24 | 20.0% | -212.2% | ||
| Q2 24 | 40.7% | -164.4% | ||
| Q1 24 | -5.6% | -136.5% |
资本支出强度ADMAAGEN
| Q4 25 | 0.8% | 0.0% | ||
| Q3 25 | 10.7% | 0.0% | ||
| Q2 25 | 2.0% | 0.0% | ||
| Q1 25 | 4.1% | 0.0% | ||
| Q4 24 | 2.3% | 0.3% | ||
| Q3 24 | 0.9% | 0.0% | ||
| Q2 24 | 1.9% | 2.0% | ||
| Q1 24 | 2.9% | 0.1% |
现金转化率ADMAAGEN
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.36× | -0.23× | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | -0.73× | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 1.42× | — | ||
| Q1 24 | -0.12× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
