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ADMA BIOLOGICS, INC.（ADMA）与Planet Labs PBC（PL）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Planet Labs PBC的1.7倍（$139.2M vs $81.3M），ADMA BIOLOGICS, INC.净利率更高（35.5% vs -72.8%，领先108.3%），Planet Labs PBC同比增速更快（32.6% vs 18.4%），ADMA BIOLOGICS, INC.自由现金流更多（$34.6M vs $1.9M），过去两年ADMA BIOLOGICS, INC.的营收复合增速更高（30.4% vs 17.5%）
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。
Planet Labs PBC（常简称为Planet）是总部位于美国加利福尼亚州旧金山的上市地球影像企业，核心目标是实现全球范围的每日成像，以此监测地表变化、精准识别相关趋势，为多行业的地理数据分析需求提供可靠的数据支持。
ADMA vs PL — 直观对比
营收规模更大
ADMA
是对方的1.7倍
$81.3M
营收增速更快
PL
高出14.2%
18.4%
净利率更高
ADMA
高出108.3%
-72.8%
自由现金流更多
ADMA
多$32.7M
$1.9M
两年增速更快
ADMA
近两年复合增速
17.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $139.2M | $81.3M |
| 净利润 | $49.4M | $-59.2M |
| 毛利率 | 63.8% | 57.3% |
| 营业利润率 | 45.1% | -22.6% |
| 净利率 | 35.5% | -72.8% |
| 营收同比 | 18.4% | 32.6% |
| 净利润同比 | -55.9% | -194.7% |
| 每股收益（稀释后） | $0.20 | $-0.19 |
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ADMAPL
| Q4 25 | $139.2M | $81.3M | ||
| Q3 25 | $134.2M | $73.4M | ||
| Q2 25 | $122.0M | $66.3M | ||
| Q1 25 | $114.8M | $61.6M | ||
| Q4 24 | $117.5M | $61.3M | ||
| Q3 24 | $119.8M | $61.1M | ||
| Q2 24 | $107.2M | $60.4M | ||
| Q1 24 | $81.9M | $58.9M |
净利润ADMAPL
| Q4 25 | $49.4M | $-59.2M | ||
| Q3 25 | $36.4M | $-22.6M | ||
| Q2 25 | $34.2M | $-12.6M | ||
| Q1 25 | $26.9M | $-35.2M | ||
| Q4 24 | $111.9M | $-20.1M | ||
| Q3 24 | $35.9M | $-38.7M | ||
| Q2 24 | $32.1M | $-29.3M | ||
| Q1 24 | $17.8M | $-30.1M |
毛利率ADMAPL
| Q4 25 | 63.8% | 57.3% | ||
| Q3 25 | 56.3% | 57.6% | ||
| Q2 25 | 55.1% | 55.2% | ||
| Q1 25 | 53.2% | 62.1% | ||
| Q4 24 | 53.9% | 61.2% | ||
| Q3 24 | 49.8% | 52.9% | ||
| Q2 24 | 53.6% | 52.4% | ||
| Q1 24 | 47.8% | 55.2% |
营业利润率ADMAPL
| Q4 25 | 45.1% | -22.6% | ||
| Q3 25 | 38.0% | -24.5% | ||
| Q2 25 | 35.1% | -34.4% | ||
| Q1 25 | 30.4% | -31.5% | ||
| Q4 24 | 32.6% | -36.9% | ||
| Q3 24 | 33.1% | -64.8% | ||
| Q2 24 | 36.6% | -57.2% | ||
| Q1 24 | 26.7% | -57.6% |
净利率ADMAPL
| Q4 25 | 35.5% | -72.8% | ||
| Q3 25 | 27.1% | -30.8% | ||
| Q2 25 | 28.1% | -19.1% | ||
| Q1 25 | 23.4% | -57.1% | ||
| Q4 24 | 95.2% | -32.8% | ||
| Q3 24 | 30.0% | -63.3% | ||
| Q2 24 | 29.9% | -48.5% | ||
| Q1 24 | 21.7% | -51.1% |
每股收益（稀释后）ADMAPL
| Q4 25 | $0.20 | $-0.19 | ||
| Q3 25 | $0.15 | $-0.07 | ||
| Q2 25 | $0.14 | $-0.04 | ||
| Q1 25 | $0.11 | $-0.12 | ||
| Q4 24 | $0.45 | $-0.07 | ||
| Q3 24 | $0.15 | $-0.13 | ||
| Q2 24 | $0.13 | $-0.10 | ||
| Q1 24 | $0.08 | $-0.10 |
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 | $443.3M |
| 总债务越低越好 | $72.1M | — |
| 股东权益账面价值 | $477.3M | $349.6M |
| 总资产 | $624.2M | $1.1B |
| 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ADMAPL
| Q4 25 | $87.6M | $443.3M | ||
| Q3 25 | $61.4M | $181.1M | ||
| Q2 25 | $90.3M | $133.5M | ||
| Q1 25 | $71.6M | $118.0M | ||
| Q4 24 | $103.1M | $139.0M | ||
| Q3 24 | $86.7M | $148.3M | ||
| Q2 24 | $88.2M | $107.4M | ||
| Q1 24 | $45.3M | $83.9M |
总债务ADMAPL
| Q4 25 | $72.1M | — | ||
| Q3 25 | $72.4M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $72.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ADMAPL
| Q4 25 | $477.3M | $349.6M | ||
| Q3 25 | $431.2M | $435.7M | ||
| Q2 25 | $398.3M | $444.8M | ||
| Q1 25 | $373.4M | $441.3M | ||
| Q4 24 | $349.0M | $464.6M | ||
| Q3 24 | $231.9M | $473.2M | ||
| Q2 24 | $188.3M | $500.3M | ||
| Q1 24 | $153.7M | $518.0M |
总资产ADMAPL
| Q4 25 | $624.2M | $1.1B | ||
| Q3 25 | $568.7M | $696.4M | ||
| Q2 25 | $558.4M | $658.4M | ||
| Q1 25 | $510.6M | $633.8M | ||
| Q4 24 | $488.7M | $630.8M | ||
| Q3 24 | $390.6M | $658.4M | ||
| Q2 24 | $376.4M | $674.6M | ||
| Q1 24 | $350.9M | $702.0M |
负债/权益比ADMAPL
| 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 | $28.6M |
| 自由现金流经营现金流 - 资本支出 | $34.6M | $1.9M |
| 自由现金流率自由现金流/营收 | 24.8% | 2.3% |
| 资本支出强度资本支出/营收 | 0.8% | 32.9% |
| 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 | $40.7M |
8季度趋势，按日历期对齐
经营现金流ADMAPL
| Q4 25 | $35.6M | $28.6M | ||
| Q3 25 | $13.3M | $67.8M | ||
| Q2 25 | $21.1M | $17.3M | ||
| Q1 25 | $-19.7M | $-6.3M | ||
| Q4 24 | $50.2M | $4.1M | ||
| Q3 24 | $25.0M | $-7.9M | ||
| Q2 24 | $45.6M | $-4.3M | ||
| Q1 24 | $-2.2M | $-6.8M |
自由现金流ADMAPL
| Q4 25 | $34.6M | $1.9M | ||
| Q3 25 | $-1.1M | $47.5M | ||
| Q2 25 | $18.7M | $9.2M | ||
| Q1 25 | $-24.4M | $-17.9M | ||
| Q4 24 | $47.5M | $-3.6M | ||
| Q3 24 | $24.0M | $-23.0M | ||
| Q2 24 | $43.6M | $-14.2M | ||
| Q1 24 | $-4.6M | $-15.7M |
自由现金流率ADMAPL
| Q4 25 | 24.8% | 2.3% | ||
| Q3 25 | -0.8% | 64.7% | ||
| Q2 25 | 15.3% | 13.9% | ||
| Q1 25 | -21.2% | -29.1% | ||
| Q4 24 | 40.4% | -5.8% | ||
| Q3 24 | 20.0% | -37.6% | ||
| Q2 24 | 40.7% | -23.6% | ||
| Q1 24 | -5.6% | -26.7% |
资本支出强度ADMAPL
| Q4 25 | 0.8% | 32.9% | ||
| Q3 25 | 10.7% | 27.6% | ||
| Q2 25 | 2.0% | 12.3% | ||
| Q1 25 | 4.1% | 18.9% | ||
| Q4 24 | 2.3% | 12.5% | ||
| Q3 24 | 0.9% | 24.8% | ||
| Q2 24 | 1.9% | 16.4% | ||
| Q1 24 | 2.9% | 15.1% |
现金转化率ADMAPL
| 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
业务分部营收拆解
ADMA
| ADMA Bio Manufacturing Segment | $123.1M | 88% |
| Other | $16.0M | 12% |
PL
| Defense And Intelligence | $49.4M | 61% |
| Civil Government | $18.8M | 23% |
| Commercial | $13.1M | 16% |
