vs
Adaptive Biotechnologies Corp（ADPT）与NEUROCRINE BIOSCIENCES INC（NBIX）财务数据对比。点击上方公司名可切换其他公司
NEUROCRINE BIOSCIENCES INC的季度营收约是Adaptive Biotechnologies Corp的11.2倍（$805.5M vs $71.7M）。NEUROCRINE BIOSCIENCES INC净利率更高（19.1% vs -18.9%，领先38.0%）。Adaptive Biotechnologies Corp同比增速更快（51.0% vs 28.3%）。NEUROCRINE BIOSCIENCES INC自由现金流更多（$386.0M vs $1.4M）。过去两年Adaptive Biotechnologies Corp的营收复合增速更高（30.8% vs 25.0%）
ExpreS2ion Biotechnologies是一家丹麦生物技术企业，总部位于丹麦霍尔斯霍姆，专注于新型疫苗和免疫疗法产品的研发，在纳斯达克第一北增长市场瑞典板块挂牌上市。
Neurocrine Biosciences是1992年成立的美国生物制药企业，总部位于加利福尼亚州圣地亚哥，截至2024年10月首席执行官为Kyle Gano。公司专注于神经及内分泌相关疾病的疗法研发，旗下药物缬苯那嗪（商品名Ingrezza）于2017年获美国批准，用于治疗成人迟发性运动障碍。
ADPT vs NBIX — 直观对比
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $71.7M | $805.5M |
| 净利润 | $-13.6M | $153.7M |
| 毛利率 | 74.6% | 97.8% |
| 营业利润率 | -17.8% | 26.2% |
| 净利率 | -18.9% | 19.1% |
| 营收同比 | 51.0% | 28.3% |
| 净利润同比 | 59.7% | 49.1% |
| 每股收益（稀释后） | $-0.08 | $1.49 |
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
| Q4 25 | $71.7M | $805.5M | ||
| Q3 25 | $94.0M | $794.9M | ||
| Q2 25 | $58.9M | $687.5M | ||
| Q1 25 | $52.4M | $572.6M | ||
| Q4 24 | $47.5M | $627.7M | ||
| Q3 24 | $46.4M | $622.1M | ||
| Q2 24 | $43.2M | $590.2M | ||
| Q1 24 | $41.9M | $515.3M |
| Q4 25 | $-13.6M | $153.7M | ||
| Q3 25 | $9.5M | $209.5M | ||
| Q2 25 | $-25.6M | $107.5M | ||
| Q1 25 | $-29.9M | $7.9M | ||
| Q4 24 | $-33.7M | $103.1M | ||
| Q3 24 | $-32.1M | $129.8M | ||
| Q2 24 | $-46.2M | $65.0M | ||
| Q1 24 | $-47.5M | $43.4M |
| Q4 25 | 74.6% | 97.8% | ||
| Q3 25 | 80.7% | 98.2% | ||
| Q2 25 | 69.4% | 98.4% | ||
| Q1 25 | 67.6% | 98.4% | ||
| Q4 24 | 62.0% | 98.5% | ||
| Q3 24 | 64.1% | 98.7% | ||
| Q2 24 | 55.3% | 98.4% | ||
| Q1 24 | 56.9% | 98.5% |
| Q4 25 | -17.8% | 26.2% | ||
| Q3 25 | 10.9% | 30.1% | ||
| Q2 25 | -42.5% | 21.2% | ||
| Q1 25 | -56.4% | 4.1% | ||
| Q4 24 | -71.3% | 22.6% | ||
| Q3 24 | -70.3% | 29.5% | ||
| Q2 24 | -109.6% | 24.6% | ||
| Q1 24 | -116.5% | 19.3% |
| Q4 25 | -18.9% | 19.1% | ||
| Q3 25 | 10.2% | 26.4% | ||
| Q2 25 | -43.5% | 15.6% | ||
| Q1 25 | -56.9% | 1.4% | ||
| Q4 24 | -71.0% | 16.4% | ||
| Q3 24 | -69.1% | 20.9% | ||
| Q2 24 | -107.0% | 11.0% | ||
| Q1 24 | -113.5% | 8.4% |
| Q4 25 | $-0.08 | $1.49 | ||
| Q3 25 | $0.06 | $2.04 | ||
| Q2 25 | $-0.17 | $1.06 | ||
| Q1 25 | $-0.20 | $0.08 | ||
| Q4 24 | $-0.22 | $1.00 | ||
| Q3 24 | $-0.22 | $1.24 | ||
| Q2 24 | $-0.31 | $0.63 | ||
| Q1 24 | $-0.33 | $0.42 |
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 | $70.5M | $713.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $218.8M | $3.3B |
| 总资产 | $512.7M | $4.6B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $70.5M | $713.0M | ||
| Q3 25 | $55.0M | $340.2M | ||
| Q2 25 | $43.2M | $264.0M | ||
| Q1 25 | $50.6M | $194.1M | ||
| Q4 24 | $47.9M | $233.0M | ||
| Q3 24 | $38.1M | $349.1M | ||
| Q2 24 | $59.8M | $139.7M | ||
| Q1 24 | $71.2M | $396.3M |
| Q4 25 | $218.8M | $3.3B | ||
| Q3 25 | $204.4M | $3.0B | ||
| Q2 25 | $179.7M | $2.7B | ||
| Q1 25 | $190.4M | $2.5B | ||
| Q4 24 | $202.7M | $2.6B | ||
| Q3 24 | $223.8M | $2.7B | ||
| Q2 24 | $241.6M | $2.5B | ||
| Q1 24 | $274.9M | $2.4B |
| Q4 25 | $512.7M | $4.6B | ||
| Q3 25 | $490.6M | $4.3B | ||
| Q2 25 | $496.6M | $3.9B | ||
| Q1 25 | $510.9M | $3.7B | ||
| Q4 24 | $539.4M | $3.7B | ||
| Q3 24 | $558.5M | $3.5B | ||
| Q2 24 | $584.9M | $3.3B | ||
| Q1 24 | $620.3M | $3.5B |
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 | $2.1M | $388.4M |
| 自由现金流经营现金流 - 资本支出 | $1.4M | $386.0M |
| 自由现金流率自由现金流/营收 | 2.0% | 47.9% |
| 资本支出强度资本支出/营收 | 0.9% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 2.53× |
| 过去12个月自由现金流最近4个季度 | $-48.9M | $743.9M |
8季度趋势，按日历期对齐
| Q4 25 | $2.1M | $388.4M | ||
| Q3 25 | $-7.1M | $227.5M | ||
| Q2 25 | $-12.4M | $102.0M | ||
| Q1 25 | $-28.5M | $64.8M | ||
| Q4 24 | $-12.5M | $242.5M | ||
| Q3 24 | $-27.1M | $158.0M | ||
| Q2 24 | $-17.3M | $64.6M | ||
| Q1 24 | $-38.4M | $130.3M |
| Q4 25 | $1.4M | $386.0M | ||
| Q3 25 | $-7.5M | $214.3M | ||
| Q2 25 | $-13.1M | $89.5M | ||
| Q1 25 | $-29.7M | $54.1M | ||
| Q4 24 | $-12.6M | $235.2M | ||
| Q3 24 | $-27.4M | $149.9M | ||
| Q2 24 | $-19.0M | $53.0M | ||
| Q1 24 | $-39.9M | $119.1M |
| Q4 25 | 2.0% | 47.9% | ||
| Q3 25 | -8.0% | 27.0% | ||
| Q2 25 | -22.2% | 13.0% | ||
| Q1 25 | -56.7% | 9.4% | ||
| Q4 24 | -26.5% | 37.5% | ||
| Q3 24 | -59.0% | 24.1% | ||
| Q2 24 | -44.1% | 9.0% | ||
| Q1 24 | -95.2% | 23.1% |
| Q4 25 | 0.9% | 0.3% | ||
| Q3 25 | 0.4% | 1.7% | ||
| Q2 25 | 1.1% | 1.8% | ||
| Q1 25 | 2.4% | 1.9% | ||
| Q4 24 | 0.2% | 1.2% | ||
| Q3 24 | 0.7% | 1.3% | ||
| Q2 24 | 4.0% | 2.0% | ||
| Q1 24 | 3.6% | 2.2% |
| Q4 25 | — | 2.53× | ||
| Q3 25 | -0.75× | 1.09× | ||
| Q2 25 | — | 0.95× | ||
| Q1 25 | — | 8.20× | ||
| Q4 24 | — | 2.35× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | — | 0.99× | ||
| Q1 24 | — | 3.00× |
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
ADPT
| Mrd Business Segment | $61.9M | 86% |
| Immune Medicine Business | $9.8M | 14% |
| Immune Medicine Service Revenue | $100.0K | 0% |
NBIX
| INGREZZA Net Product Sales | $653.8M | 81% |
| CRENESSITY Net Product Sales | $135.4M | 17% |
| Other Income | $12.6M | 2% |
| Collaboration Revenue | $7.2M | 1% |
