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ADMA BIOLOGICS, INC.（ADMA）与Alector, Inc.（ALEC）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Alector, Inc.的22.3倍（$139.2M vs $6.2M）。ADMA BIOLOGICS, INC.净利率更高（35.5% vs -597.5%，领先633.0%）。ADMA BIOLOGICS, INC.同比增速更快（18.4% vs -88.5%）。过去两年ADMA BIOLOGICS, INC.的营收复合增速更高（30.4% vs -37.4%）
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。
Alector是一家临床阶段生物制药企业，专注于神经退行性疾病的免疫疗法研发，管线覆盖阿尔茨海默病、额颞叶痴呆、帕金森病等未被满足的医疗需求，主要在美国运营，与全球药企合作推进候选药物的临床试验。
ADMA vs ALEC — 直观对比
营收规模更大
ADMA
是对方的22.3倍
$6.2M
营收增速更快
ADMA
高出106.9%
-88.5%
净利率更高
ADMA
高出633.0%
-597.5%
两年增速更快
ADMA
近两年复合增速
-37.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $139.2M | $6.2M |
| 净利润 | $49.4M | $-37.3M |
| 毛利率 | 63.8% | — |
| 营业利润率 | 45.1% | -634.4% |
| 净利率 | 35.5% | -597.5% |
| 营收同比 | 18.4% | -88.5% |
| 净利润同比 | -55.9% | -1696.9% |
| 每股收益（稀释后） | $0.20 | $-0.34 |
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ADMAALEC
| Q4 25 | $139.2M | $6.2M | ||
| Q3 25 | $134.2M | $3.3M | ||
| Q2 25 | $122.0M | $7.9M | ||
| Q1 25 | $114.8M | $3.7M | ||
| Q4 24 | $117.5M | $54.2M | ||
| Q3 24 | $119.8M | $15.3M | ||
| Q2 24 | $107.2M | $15.1M | ||
| Q1 24 | $81.9M | $15.9M |
净利润ADMAALEC
| Q4 25 | $49.4M | $-37.3M | ||
| Q3 25 | $36.4M | $-34.7M | ||
| Q2 25 | $34.2M | $-30.5M | ||
| Q1 25 | $26.9M | $-40.5M | ||
| Q4 24 | $111.9M | $-2.1M | ||
| Q3 24 | $35.9M | $-42.2M | ||
| Q2 24 | $32.1M | $-38.7M | ||
| Q1 24 | $17.8M | $-36.1M |
毛利率ADMAALEC
| Q4 25 | 63.8% | — | ||
| Q3 25 | 56.3% | — | ||
| Q2 25 | 55.1% | — | ||
| Q1 25 | 53.2% | — | ||
| Q4 24 | 53.9% | — | ||
| Q3 24 | 49.8% | — | ||
| Q2 24 | 53.6% | — | ||
| Q1 24 | 47.8% | — |
营业利润率ADMAALEC
| Q4 25 | 45.1% | -634.4% | ||
| Q3 25 | 38.0% | -1153.6% | ||
| Q2 25 | 35.1% | -433.6% | ||
| Q1 25 | 30.4% | -1216.5% | ||
| Q4 24 | 32.6% | -13.4% | ||
| Q3 24 | 33.1% | -315.7% | ||
| Q2 24 | 36.6% | -302.4% | ||
| Q1 24 | 26.7% | -275.0% |
净利率ADMAALEC
| Q4 25 | 35.5% | -597.5% | ||
| Q3 25 | 27.1% | -1063.4% | ||
| Q2 25 | 28.1% | -387.7% | ||
| Q1 25 | 23.4% | -1101.6% | ||
| Q4 24 | 95.2% | -3.8% | ||
| Q3 24 | 30.0% | -275.2% | ||
| Q2 24 | 29.9% | -256.4% | ||
| Q1 24 | 21.7% | -227.0% |
每股收益（稀释后）ADMAALEC
| Q4 25 | $0.20 | $-0.34 | ||
| Q3 25 | $0.15 | $-0.34 | ||
| Q2 25 | $0.14 | $-0.30 | ||
| Q1 25 | $0.11 | $-0.41 | ||
| Q4 24 | $0.45 | $-0.02 | ||
| Q3 24 | $0.15 | $-0.43 | ||
| Q2 24 | $0.13 | $-0.40 | ||
| Q1 24 | $0.08 | $-0.38 |
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 | $256.0M |
| 总债务越低越好 | $72.1M | $10.0M |
| 股东权益账面价值 | $477.3M | $30.6M |
| 总资产 | $624.2M | $293.2M |
| 负债/权益比越低杠杆越低 | 0.15× | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资ADMAALEC
| Q4 25 | $87.6M | $256.0M | ||
| Q3 25 | $61.4M | $291.1M | ||
| Q2 25 | $90.3M | $307.3M | ||
| Q1 25 | $71.6M | $354.6M | ||
| Q4 24 | $103.1M | $413.4M | ||
| Q3 24 | $86.7M | $457.2M | ||
| Q2 24 | $88.2M | $503.3M | ||
| Q1 24 | $45.3M | $562.1M |
总债务ADMAALEC
| Q4 25 | $72.1M | $10.0M | ||
| Q3 25 | $72.4M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $72.3M | $10.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ADMAALEC
| Q4 25 | $477.3M | $30.6M | ||
| Q3 25 | $431.2M | $57.7M | ||
| Q2 25 | $398.3M | $71.2M | ||
| Q1 25 | $373.4M | $94.6M | ||
| Q4 24 | $349.0M | $126.8M | ||
| Q3 24 | $231.9M | $118.9M | ||
| Q2 24 | $188.3M | $150.6M | ||
| Q1 24 | $153.7M | $178.9M |
总资产ADMAALEC
| Q4 25 | $624.2M | $293.2M | ||
| Q3 25 | $568.7M | $335.3M | ||
| Q2 25 | $558.4M | $356.4M | ||
| Q1 25 | $510.6M | $408.3M | ||
| Q4 24 | $488.7M | $468.3M | ||
| Q3 24 | $390.6M | $516.0M | ||
| Q2 24 | $376.4M | $570.7M | ||
| Q1 24 | $350.9M | $635.5M |
负债/权益比ADMAALEC
| Q4 25 | 0.15× | 0.33× | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.21× | 0.08× | ||
| 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 | $-41.7M |
| 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ADMAALEC
| Q4 25 | $35.6M | $-41.7M | ||
| Q3 25 | $13.3M | $-32.5M | ||
| Q2 25 | $21.1M | $-49.0M | ||
| Q1 25 | $-19.7M | $-60.8M | ||
| Q4 24 | $50.2M | $-55.0M | ||
| Q3 24 | $25.0M | $-50.7M | ||
| Q2 24 | $45.6M | $-62.8M | ||
| Q1 24 | $-2.2M | $-61.3M |
自由现金流ADMAALEC
| Q4 25 | $34.6M | — | ||
| Q3 25 | $-1.1M | $-32.5M | ||
| Q2 25 | $18.7M | $-49.1M | ||
| Q1 25 | $-24.4M | $-60.8M | ||
| Q4 24 | $47.5M | $-55.2M | ||
| Q3 24 | $24.0M | $-50.9M | ||
| Q2 24 | $43.6M | $-63.1M | ||
| Q1 24 | $-4.6M | $-61.9M |
自由现金流率ADMAALEC
| Q4 25 | 24.8% | — | ||
| Q3 25 | -0.8% | -997.6% | ||
| Q2 25 | 15.3% | -623.0% | ||
| Q1 25 | -21.2% | -1655.0% | ||
| Q4 24 | 40.4% | -101.8% | ||
| Q3 24 | 20.0% | -332.1% | ||
| Q2 24 | 40.7% | -418.6% | ||
| Q1 24 | -5.6% | -389.3% |
资本支出强度ADMAALEC
| Q4 25 | 0.8% | 0.0% | ||
| Q3 25 | 10.7% | 0.3% | ||
| Q2 25 | 2.0% | 0.1% | ||
| Q1 25 | 4.1% | 0.5% | ||
| Q4 24 | 2.3% | 0.3% | ||
| Q3 24 | 0.9% | 1.4% | ||
| Q2 24 | 1.9% | 2.2% | ||
| Q1 24 | 2.9% | 3.4% |
现金转化率ADMAALEC
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.36× | — | ||
| 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
