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ADMA BIOLOGICS, INC.（ADMA）与MP Materials Corp.（MP）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MP Materials Corp.的1.5倍（$139.2M vs $90.6M），ADMA BIOLOGICS, INC.净利率更高（35.5% vs -8.8%，领先44.3%），MP Materials Corp.同比增速更快（49.1% vs 18.4%），过去两年MP Materials Corp.的营收复合增速更高（70.3% vs 30.4%）
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。
MP Materials Corp.是总部位于美国的稀土材料生产商，拥有并运营加利福尼亚州芒廷帕斯矿，这是西半球唯一在产的稀土开采及加工设施，所产核心材料可广泛应用于电动汽车、风力发电机、国防工业等多个关键领域。
ADMA vs MP — 直观对比
营收规模更大
ADMA
是对方的1.5倍
$90.6M
营收增速更快
MP
高出30.7%
18.4%
净利率更高
ADMA
高出44.3%
-8.8%
两年增速更快
MP
近两年复合增速
30.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $139.2M | $90.6M |
| 净利润 | $49.4M | $-8.0M |
| 毛利率 | 63.8% | — |
| 营业利润率 | 45.1% | — |
| 净利率 | 35.5% | -8.8% |
| 营收同比 | 18.4% | 49.1% |
| 净利润同比 | -55.9% | 64.8% |
| 每股收益（稀释后） | $0.20 | $-0.04 |
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ADMAMP
| Q1 26 | — | $90.6M | ||
| Q4 25 | $139.2M | $52.7M | ||
| Q3 25 | $134.2M | $53.6M | ||
| Q2 25 | $122.0M | $57.4M | ||
| Q1 25 | $114.8M | $60.8M | ||
| Q4 24 | $117.5M | $61.0M | ||
| Q3 24 | $119.8M | $62.9M | ||
| Q2 24 | $107.2M | $31.3M |
净利润ADMAMP
| Q1 26 | — | $-8.0M | ||
| Q4 25 | $49.4M | $9.4M | ||
| Q3 25 | $36.4M | $-41.8M | ||
| Q2 25 | $34.2M | $-30.9M | ||
| Q1 25 | $26.9M | $-22.6M | ||
| Q4 24 | $111.9M | $-22.3M | ||
| Q3 24 | $35.9M | $-25.5M | ||
| Q2 24 | $32.1M | $-34.1M |
毛利率ADMAMP
| Q1 26 | — | — | ||
| 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% | — |
营业利润率ADMAMP
| Q1 26 | — | — | ||
| Q4 25 | 45.1% | -7.0% | ||
| Q3 25 | 38.0% | -125.2% | ||
| Q2 25 | 35.1% | -76.5% | ||
| Q1 25 | 30.4% | -57.2% | ||
| Q4 24 | 32.6% | -72.1% | ||
| Q3 24 | 33.1% | -62.8% | ||
| Q2 24 | 36.6% | -171.1% |
净利率ADMAMP
| Q1 26 | — | -8.8% | ||
| Q4 25 | 35.5% | 17.9% | ||
| Q3 25 | 27.1% | -78.0% | ||
| Q2 25 | 28.1% | -53.8% | ||
| Q1 25 | 23.4% | -37.2% | ||
| Q4 24 | 95.2% | -36.6% | ||
| Q3 24 | 30.0% | -40.5% | ||
| Q2 24 | 29.9% | -108.9% |
每股收益（稀释后）ADMAMP
| Q1 26 | — | $-0.04 | ||
| Q4 25 | $0.20 | $0.07 | ||
| Q3 25 | $0.15 | $-0.24 | ||
| Q2 25 | $0.14 | $-0.19 | ||
| Q1 25 | $0.11 | $-0.14 | ||
| Q4 24 | $0.45 | $-0.12 | ||
| Q3 24 | $0.15 | $-0.16 | ||
| Q2 24 | $0.13 | $-0.21 |
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 | $1.7B |
| 总债务越低越好 | $72.1M | $1.0B |
| 股东权益账面价值 | $477.3M | $2.0B |
| 总资产 | $624.2M | $3.8B |
| 负债/权益比越低杠杆越低 | 0.15× | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资ADMAMP
| Q1 26 | — | $1.7B | ||
| Q4 25 | $87.6M | $1.2B | ||
| Q3 25 | $61.4M | $1.1B | ||
| Q2 25 | $90.3M | $261.5M | ||
| Q1 25 | $71.6M | $198.3M | ||
| Q4 24 | $103.1M | $282.4M | ||
| Q3 24 | $86.7M | $284.4M | ||
| Q2 24 | $88.2M | $295.6M |
总债务ADMAMP
| Q1 26 | — | $1.0B | ||
| Q4 25 | $72.1M | $998.7M | ||
| Q3 25 | $72.4M | $997.3M | ||
| Q2 25 | — | $910.8M | ||
| Q1 25 | — | $909.8M | ||
| Q4 24 | $72.3M | $908.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ADMAMP
| Q1 26 | — | $2.0B | ||
| Q4 25 | $477.3M | $2.0B | ||
| Q3 25 | $431.2M | $2.0B | ||
| Q2 25 | $398.3M | $1.0B | ||
| Q1 25 | $373.4M | $1.0B | ||
| Q4 24 | $349.0M | $1.1B | ||
| Q3 24 | $231.9M | $1.1B | ||
| Q2 24 | $188.3M | $1.1B |
总资产ADMAMP
| Q1 26 | — | $3.8B | ||
| Q4 25 | $624.2M | $3.9B | ||
| Q3 25 | $568.7M | $3.8B | ||
| Q2 25 | $558.4M | $2.3B | ||
| Q1 25 | $510.6M | $2.4B | ||
| Q4 24 | $488.7M | $2.3B | ||
| Q3 24 | $390.6M | $2.3B | ||
| Q2 24 | $376.4M | $2.4B |
负债/权益比ADMAMP
| Q1 26 | — | 0.51× | ||
| Q4 25 | 0.15× | 0.50× | ||
| Q3 25 | 0.17× | 0.51× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.88× | ||
| Q4 24 | 0.21× | 0.86× | ||
| Q3 24 | — | — | ||
| Q2 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 | $-1.9M |
| 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% | — |
| 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ADMAMP
| Q1 26 | — | $-1.9M | ||
| Q4 25 | $35.6M | $-46.9M | ||
| Q3 25 | $13.3M | $-42.0M | ||
| Q2 25 | $21.1M | $-3.7M | ||
| Q1 25 | $-19.7M | $-63.2M | ||
| Q4 24 | $50.2M | $30.5M | ||
| Q3 24 | $25.0M | $-6.8M | ||
| Q2 24 | $45.6M | $30.8M |
自由现金流ADMAMP
| Q1 26 | — | — | ||
| Q4 25 | $34.6M | $-109.3M | ||
| Q3 25 | $-1.1M | $-92.5M | ||
| Q2 25 | $18.7M | $-32.7M | ||
| Q1 25 | $-24.4M | $-93.7M | ||
| Q4 24 | $47.5M | $-11.2M | ||
| Q3 24 | $24.0M | $-53.3M | ||
| Q2 24 | $43.6M | $-15.6M |
自由现金流率ADMAMP
| Q1 26 | — | — | ||
| Q4 25 | 24.8% | -207.4% | ||
| Q3 25 | -0.8% | -172.8% | ||
| Q2 25 | 15.3% | -56.9% | ||
| Q1 25 | -21.2% | -154.0% | ||
| Q4 24 | 40.4% | -18.3% | ||
| Q3 24 | 20.0% | -84.7% | ||
| Q2 24 | 40.7% | -50.1% |
资本支出强度ADMAMP
| Q1 26 | — | — | ||
| Q4 25 | 0.8% | 118.5% | ||
| Q3 25 | 10.7% | 94.3% | ||
| Q2 25 | 2.0% | 50.5% | ||
| Q1 25 | 4.1% | 50.1% | ||
| Q4 24 | 2.3% | 68.3% | ||
| Q3 24 | 0.9% | 73.8% | ||
| Q2 24 | 1.9% | 148.7% |
现金转化率ADMAMP
| Q1 26 | — | — | ||
| Q4 25 | 0.72× | -4.97× | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | -0.73× | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 1.42× | — |
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% |
MP
| Materials Segment | $72.2M | 80% |
| Magnetics Segment | $21.1M | 23% |
