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ADMA BIOLOGICS, INC.（ADMA）与Ecovyst Inc.（ECVT）财务数据对比。点击上方公司名可切换其他公司
Ecovyst Inc.的季度营收约是ADMA BIOLOGICS, INC.的1.4倍（$199.4M vs $139.2M），Ecovyst Inc.同比增速更快（34.0% vs 18.4%），ADMA BIOLOGICS, INC.自由现金流更多（$34.6M vs $22.9M），过去两年ADMA BIOLOGICS, INC.的营收复合增速更高（30.4% vs 18.7%）
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。
Ecovyst Inc.是一家全球可持续特种材料供应商，主营高性能催化剂与功能性添加剂的研发、生产，产品服务覆盖工业制造、消费品、环保等核心领域，助力全球客户提升运营效率、降低碳排放。
ADMA vs ECVT — 直观对比
营收规模更大
ECVT
是对方的1.4倍
$139.2M
营收增速更快
ECVT
高出15.6%
18.4%
自由现金流更多
ADMA
多$11.6M
$22.9M
两年增速更快
ADMA
近两年复合增速
18.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $139.2M | $199.4M |
| 净利润 | $49.4M | — |
| 毛利率 | 63.8% | 23.4% |
| 营业利润率 | 45.1% | 10.9% |
| 净利率 | 35.5% | — |
| 营收同比 | 18.4% | 34.0% |
| 净利润同比 | -55.9% | — |
| 每股收益（稀释后） | $0.20 | $0.06 |
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ADMAECVT
| Q4 25 | $139.2M | $199.4M | ||
| Q3 25 | $134.2M | $204.9M | ||
| Q2 25 | $122.0M | $176.1M | ||
| Q1 25 | $114.8M | $143.1M | ||
| Q4 24 | $117.5M | $148.9M | ||
| Q3 24 | $119.8M | $153.9M | ||
| Q2 24 | $107.2M | $154.0M | ||
| Q1 24 | $81.9M | $141.6M |
净利润ADMAECVT
| Q4 25 | $49.4M | — | ||
| Q3 25 | $36.4M | $-79.3M | ||
| Q2 25 | $34.2M | $6.0M | ||
| Q1 25 | $26.9M | $-3.6M | ||
| Q4 24 | $111.9M | — | ||
| Q3 24 | $35.9M | $14.3M | ||
| Q2 24 | $32.1M | $8.3M | ||
| Q1 24 | $17.8M | $1.2M |
毛利率ADMAECVT
| Q4 25 | 63.8% | 23.4% | ||
| Q3 25 | 56.3% | 25.4% | ||
| Q2 25 | 55.1% | 22.8% | ||
| Q1 25 | 53.2% | 13.3% | ||
| Q4 24 | 53.9% | 28.9% | ||
| Q3 24 | 49.8% | 29.3% | ||
| Q2 24 | 53.6% | 27.3% | ||
| Q1 24 | 47.8% | 23.5% |
营业利润率ADMAECVT
| Q4 25 | 45.1% | 10.9% | ||
| Q3 25 | 38.0% | 13.8% | ||
| Q2 25 | 35.1% | 9.0% | ||
| Q1 25 | 30.4% | -0.7% | ||
| Q4 24 | 32.6% | 15.1% | ||
| Q3 24 | 33.1% | 17.9% | ||
| Q2 24 | 36.6% | 14.1% | ||
| Q1 24 | 26.7% | 9.5% |
净利率ADMAECVT
| Q4 25 | 35.5% | — | ||
| Q3 25 | 27.1% | -38.7% | ||
| Q2 25 | 28.1% | 3.4% | ||
| Q1 25 | 23.4% | -2.5% | ||
| Q4 24 | 95.2% | — | ||
| Q3 24 | 30.0% | 9.3% | ||
| Q2 24 | 29.9% | 5.4% | ||
| Q1 24 | 21.7% | 0.9% |
每股收益（稀释后）ADMAECVT
| Q4 25 | $0.20 | $0.06 | ||
| Q3 25 | $0.15 | $-0.69 | ||
| Q2 25 | $0.14 | $0.05 | ||
| Q1 25 | $0.11 | $-0.03 | ||
| Q4 24 | $0.45 | $-0.26 | ||
| Q3 24 | $0.15 | $0.12 | ||
| Q2 24 | $0.13 | $0.07 | ||
| Q1 24 | $0.08 | $0.01 |
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 | $197.2M |
| 总债务越低越好 | $72.1M | $392.6M |
| 股东权益账面价值 | $477.3M | $603.4M |
| 总资产 | $624.2M | $1.3B |
| 负债/权益比越低杠杆越低 | 0.15× | 0.65× |
8季度趋势，按日历期对齐
现金及短期投资ADMAECVT
| Q4 25 | $87.6M | $197.2M | ||
| Q3 25 | $61.4M | $82.0M | ||
| Q2 25 | $90.3M | $69.6M | ||
| Q1 25 | $71.6M | $127.5M | ||
| Q4 24 | $103.1M | $131.4M | ||
| Q3 24 | $86.7M | $123.5M | ||
| Q2 24 | $88.2M | $83.3M | ||
| Q1 24 | $45.3M | $103.1M |
总债务ADMAECVT
| Q4 25 | $72.1M | $392.6M | ||
| Q3 25 | $72.4M | $854.8M | ||
| Q2 25 | — | $856.6M | ||
| Q1 25 | — | $859.0M | ||
| Q4 24 | $72.3M | $860.8M | ||
| Q3 24 | — | $862.7M | ||
| Q2 24 | — | $862.4M | ||
| Q1 24 | — | $866.2M |
股东权益ADMAECVT
| Q4 25 | $477.3M | $603.4M | ||
| Q3 25 | $431.2M | $607.9M | ||
| Q2 25 | $398.3M | $692.4M | ||
| Q1 25 | $373.4M | $698.7M | ||
| Q4 24 | $349.0M | $700.5M | ||
| Q3 24 | $231.9M | $729.4M | ||
| Q2 24 | $188.3M | $717.3M | ||
| Q1 24 | $153.7M | $711.4M |
总资产ADMAECVT
| Q4 25 | $624.2M | $1.3B | ||
| Q3 25 | $568.7M | $1.7B | ||
| Q2 25 | $558.4M | $1.8B | ||
| Q1 25 | $510.6M | $1.8B | ||
| Q4 24 | $488.7M | $1.8B | ||
| Q3 24 | $390.6M | $1.8B | ||
| Q2 24 | $376.4M | $1.8B | ||
| Q1 24 | $350.9M | $1.8B |
负债/权益比ADMAECVT
| Q4 25 | 0.15× | 0.65× | ||
| Q3 25 | 0.17× | 1.41× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | — | 1.23× | ||
| Q4 24 | 0.21× | 1.23× | ||
| Q3 24 | — | 1.18× | ||
| Q2 24 | — | 1.20× | ||
| Q1 24 | — | 1.22× |
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 | $41.8M |
| 自由现金流经营现金流 - 资本支出 | $34.6M | $22.9M |
| 自由现金流率自由现金流/营收 | 24.8% | 11.5% |
| 资本支出强度资本支出/营收 | 0.8% | 9.4% |
| 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 | $69.9M |
8季度趋势，按日历期对齐
经营现金流ADMAECVT
| Q4 25 | $35.6M | $41.8M | ||
| Q3 25 | $13.3M | $55.3M | ||
| Q2 25 | $21.1M | $33.0M | ||
| Q1 25 | $-19.7M | $10.3M | ||
| Q4 24 | $50.2M | $43.5M | ||
| Q3 24 | $25.0M | $59.9M | ||
| Q2 24 | $45.6M | $10.0M | ||
| Q1 24 | $-2.2M | $36.5M |
自由现金流ADMAECVT
| Q4 25 | $34.6M | $22.9M | ||
| Q3 25 | $-1.1M | $53.2M | ||
| Q2 25 | $18.7M | $7.8M | ||
| Q1 25 | $-24.4M | $-14.0M | ||
| Q4 24 | $47.5M | $30.9M | ||
| Q3 24 | $24.0M | $53.6M | ||
| Q2 24 | $43.6M | $-9.3M | ||
| Q1 24 | $-4.6M | $19.1M |
自由现金流率ADMAECVT
| Q4 25 | 24.8% | 11.5% | ||
| Q3 25 | -0.8% | 26.0% | ||
| Q2 25 | 15.3% | 4.4% | ||
| Q1 25 | -21.2% | -9.8% | ||
| Q4 24 | 40.4% | 20.7% | ||
| Q3 24 | 20.0% | 34.9% | ||
| Q2 24 | 40.7% | -6.1% | ||
| Q1 24 | -5.6% | 13.5% |
资本支出强度ADMAECVT
| Q4 25 | 0.8% | 9.4% | ||
| Q3 25 | 10.7% | 1.0% | ||
| Q2 25 | 2.0% | 14.4% | ||
| Q1 25 | 4.1% | 16.9% | ||
| Q4 24 | 2.3% | 8.5% | ||
| Q3 24 | 0.9% | 4.1% | ||
| Q2 24 | 1.9% | 12.5% | ||
| Q1 24 | 2.9% | 12.3% |
现金转化率ADMAECVT
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 0.62× | 5.52× | ||
| Q1 25 | -0.73× | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.70× | 4.21× | ||
| Q2 24 | 1.42× | 1.20× | ||
| Q1 24 | -0.12× | 29.90× |
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
ADMA
| ADMA Bio Manufacturing Segment | $123.1M | 88% |
| Other | $16.0M | 12% |
ECVT
| Industrial Mining Automotive | $101.3M | 51% |
| Regeneration And Treatment Services | $90.0M | 45% |
| Other | $8.1M | 4% |
