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ADMA BIOLOGICS, INC.（ADMA）与REPLIGEN CORP（RGEN）财务数据对比。点击上方公司名可切换其他公司
REPLIGEN CORP的季度营收约是ADMA BIOLOGICS, INC.的1.4倍（$197.9M vs $139.2M）。ADMA BIOLOGICS, INC.净利率更高（35.5% vs 6.7%，领先28.8%）。ADMA BIOLOGICS, INC.同比增速更快（18.4% vs 13.6%）。ADMA BIOLOGICS, INC.自由现金流更多（$34.6M vs $17.6M）。过去两年ADMA BIOLOGICS, INC.的营收复合增速更高（30.4% vs 14.4%）
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。
Repligen是一家全球生命科学企业，专注于创新生物工艺技术与系统的研发及商业化，助力提升生物药生产效率。公司1981年成立，总部位于美国马萨诸塞州沃尔瑟姆，于纳斯达克挂牌上市，股票代码RGEN，截至2025年全球员工超1900人，主要服务生物制药领域客户。
ADMA vs RGEN — 直观对比
营收规模更大
RGEN
是对方的1.4倍
$139.2M
营收增速更快
ADMA
高出4.7%
13.6%
净利率更高
ADMA
高出28.8%
6.7%
自由现金流更多
ADMA
多$17.0M
$17.6M
两年增速更快
ADMA
近两年复合增速
14.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $139.2M | $197.9M |
| 净利润 | $49.4M | $13.3M |
| 毛利率 | 63.8% | 52.5% |
| 营业利润率 | 45.1% | 9.0% |
| 净利率 | 35.5% | 6.7% |
| 营收同比 | 18.4% | 13.6% |
| 净利润同比 | -55.9% | 143.9% |
| 每股收益（稀释后） | $0.20 | $0.24 |
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ADMARGEN
| Q4 25 | $139.2M | $197.9M | ||
| Q3 25 | $134.2M | $188.8M | ||
| Q2 25 | $122.0M | $182.4M | ||
| Q1 25 | $114.8M | $169.2M | ||
| Q4 24 | $117.5M | $174.1M | ||
| Q3 24 | $119.8M | $154.9M | ||
| Q2 24 | $107.2M | $154.1M | ||
| Q1 24 | $81.9M | $151.3M |
净利润ADMARGEN
| Q4 25 | $49.4M | $13.3M | ||
| Q3 25 | $36.4M | $14.9M | ||
| Q2 25 | $34.2M | $14.9M | ||
| Q1 25 | $26.9M | $5.8M | ||
| Q4 24 | $111.9M | $-30.3M | ||
| Q3 24 | $35.9M | $-654.0K | ||
| Q2 24 | $32.1M | $3.3M | ||
| Q1 24 | $17.8M | $2.1M |
毛利率ADMARGEN
| Q4 25 | 63.8% | 52.5% | ||
| Q3 25 | 56.3% | 53.2% | ||
| Q2 25 | 55.1% | 50.0% | ||
| Q1 25 | 53.2% | 53.6% | ||
| Q4 24 | 53.9% | 26.1% | ||
| Q3 24 | 49.8% | 50.0% | ||
| Q2 24 | 53.6% | 49.8% | ||
| Q1 24 | 47.8% | 49.5% |
营业利润率ADMARGEN
| Q4 25 | 45.1% | 9.0% | ||
| Q3 25 | 38.0% | 8.9% | ||
| Q2 25 | 35.1% | 7.6% | ||
| Q1 25 | 30.4% | 3.9% | ||
| Q4 24 | 32.6% | -17.7% | ||
| Q3 24 | 33.1% | -5.1% | ||
| Q2 24 | 36.6% | 1.0% | ||
| Q1 24 | 26.7% | 1.3% |
净利率ADMARGEN
| Q4 25 | 35.5% | 6.7% | ||
| Q3 25 | 27.1% | 7.9% | ||
| Q2 25 | 28.1% | 8.2% | ||
| Q1 25 | 23.4% | 3.4% | ||
| Q4 24 | 95.2% | -17.4% | ||
| Q3 24 | 30.0% | -0.4% | ||
| Q2 24 | 29.9% | 2.2% | ||
| Q1 24 | 21.7% | 1.4% |
每股收益（稀释后）ADMARGEN
| Q4 25 | $0.20 | $0.24 | ||
| Q3 25 | $0.15 | $0.26 | ||
| Q2 25 | $0.14 | $0.26 | ||
| Q1 25 | $0.11 | $0.10 | ||
| Q4 24 | $0.45 | $-0.55 | ||
| Q3 24 | $0.15 | $-0.01 | ||
| Q2 24 | $0.13 | $0.06 | ||
| Q1 24 | $0.08 | $0.04 |
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 | $767.6M |
| 总债务越低越好 | $72.1M | $542.2M |
| 股东权益账面价值 | $477.3M | $2.1B |
| 总资产 | $624.2M | $2.9B |
| 负债/权益比越低杠杆越低 | 0.15× | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资ADMARGEN
| Q4 25 | $87.6M | $767.6M | ||
| Q3 25 | $61.4M | $748.7M | ||
| Q2 25 | $90.3M | $708.9M | ||
| Q1 25 | $71.6M | $697.2M | ||
| Q4 24 | $103.1M | $757.4M | ||
| Q3 24 | $86.7M | $784.0M | ||
| Q2 24 | $88.2M | $809.1M | ||
| Q1 24 | $45.3M | $780.6M |
总债务ADMARGEN
| Q4 25 | $72.1M | $542.2M | ||
| Q3 25 | $72.4M | $537.9M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $72.3M | $525.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ADMARGEN
| Q4 25 | $477.3M | $2.1B | ||
| Q3 25 | $431.2M | $2.1B | ||
| Q2 25 | $398.3M | $2.1B | ||
| Q1 25 | $373.4M | $2.0B | ||
| Q4 24 | $349.0M | $2.0B | ||
| Q3 24 | $231.9M | $2.0B | ||
| Q2 24 | $188.3M | $2.0B | ||
| Q1 24 | $153.7M | $2.0B |
总资产ADMARGEN
| Q4 25 | $624.2M | $2.9B | ||
| Q3 25 | $568.7M | $2.9B | ||
| Q2 25 | $558.4M | $2.9B | ||
| Q1 25 | $510.6M | $2.9B | ||
| Q4 24 | $488.7M | $2.8B | ||
| Q3 24 | $390.6M | $2.8B | ||
| Q2 24 | $376.4M | $2.9B | ||
| Q1 24 | $350.9M | $2.8B |
负债/权益比ADMARGEN
| Q4 25 | 0.15× | 0.26× | ||
| Q3 25 | 0.17× | 0.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.21× | 0.27× | ||
| 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 | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $34.6M | $17.6M |
| 自由现金流率自由现金流/营收 | 24.8% | 8.9% |
| 资本支出强度资本支出/营收 | 0.8% | 4.1% |
| 现金转化率经营现金流/净利润 | 0.72× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $27.8M | $93.9M |
8季度趋势，按日历期对齐
经营现金流ADMARGEN
| Q4 25 | $35.6M | $25.7M | ||
| Q3 25 | $13.3M | $48.1M | ||
| Q2 25 | $21.1M | $28.6M | ||
| Q1 25 | $-19.7M | $15.0M | ||
| Q4 24 | $50.2M | $39.2M | ||
| Q3 24 | $25.0M | $49.3M | ||
| Q2 24 | $45.6M | $42.2M | ||
| Q1 24 | $-2.2M | $44.7M |
自由现金流ADMARGEN
| Q4 25 | $34.6M | $17.6M | ||
| Q3 25 | $-1.1M | $43.4M | ||
| Q2 25 | $18.7M | $21.5M | ||
| Q1 25 | $-24.4M | $11.4M | ||
| Q4 24 | $47.5M | $33.6M | ||
| Q3 24 | $24.0M | $42.3M | ||
| Q2 24 | $43.6M | $37.4M | ||
| Q1 24 | $-4.6M | $36.4M |
自由现金流率ADMARGEN
| Q4 25 | 24.8% | 8.9% | ||
| Q3 25 | -0.8% | 23.0% | ||
| Q2 25 | 15.3% | 11.8% | ||
| Q1 25 | -21.2% | 6.8% | ||
| Q4 24 | 40.4% | 19.3% | ||
| Q3 24 | 20.0% | 27.3% | ||
| Q2 24 | 40.7% | 24.3% | ||
| Q1 24 | -5.6% | 24.0% |
资本支出强度ADMARGEN
| Q4 25 | 0.8% | 4.1% | ||
| Q3 25 | 10.7% | 2.5% | ||
| Q2 25 | 2.0% | 3.9% | ||
| Q1 25 | 4.1% | 2.1% | ||
| Q4 24 | 2.3% | 3.2% | ||
| Q3 24 | 0.9% | 4.5% | ||
| Q2 24 | 1.9% | 3.1% | ||
| Q1 24 | 2.9% | 5.5% |
现金转化率ADMARGEN
| Q4 25 | 0.72× | 1.93× | ||
| Q3 25 | 0.36× | 3.23× | ||
| Q2 25 | 0.62× | 1.92× | ||
| Q1 25 | -0.73× | 2.57× | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 1.42× | 12.70× | ||
| Q1 24 | -0.12× | 21.35× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
