vs
Adaptive Biotechnologies Corp（ADPT）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Adaptive Biotechnologies Corp的2.8倍（$197.9M vs $71.7M）。REPLIGEN CORP净利率更高（6.7% vs -18.9%，领先25.7%）。Adaptive Biotechnologies Corp同比增速更快（51.0% vs 13.6%）。REPLIGEN CORP自由现金流更多（$17.6M vs $1.4M）。过去两年Adaptive Biotechnologies Corp的营收复合增速更高（30.8% vs 14.4%）
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。
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。
ADPT vs RGEN — 直观对比
营收规模更大
RGEN
是对方的2.8倍
$71.7M
营收增速更快
ADPT
高出37.4%
13.6%
净利率更高
RGEN
高出25.7%
-18.9%
自由现金流更多
RGEN
多$16.1M
$1.4M
两年增速更快
ADPT
近两年复合增速
14.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $71.7M | $197.9M |
| 净利润 | $-13.6M | $13.3M |
| 毛利率 | 74.6% | 52.5% |
| 营业利润率 | -17.8% | 9.0% |
| 净利率 | -18.9% | 6.7% |
| 营收同比 | 51.0% | 13.6% |
| 净利润同比 | 59.7% | 143.9% |
| 每股收益（稀释后） | $-0.08 | $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ADPTRGEN
| Q4 25 | $71.7M | $197.9M | ||
| Q3 25 | $94.0M | $188.8M | ||
| Q2 25 | $58.9M | $182.4M | ||
| Q1 25 | $52.4M | $169.2M | ||
| Q4 24 | $47.5M | $174.1M | ||
| Q3 24 | $46.4M | $154.9M | ||
| Q2 24 | $43.2M | $154.1M | ||
| Q1 24 | $41.9M | $151.3M |
净利润ADPTRGEN
| Q4 25 | $-13.6M | $13.3M | ||
| Q3 25 | $9.5M | $14.9M | ||
| Q2 25 | $-25.6M | $14.9M | ||
| Q1 25 | $-29.9M | $5.8M | ||
| Q4 24 | $-33.7M | $-30.3M | ||
| Q3 24 | $-32.1M | $-654.0K | ||
| Q2 24 | $-46.2M | $3.3M | ||
| Q1 24 | $-47.5M | $2.1M |
毛利率ADPTRGEN
| Q4 25 | 74.6% | 52.5% | ||
| Q3 25 | 80.7% | 53.2% | ||
| Q2 25 | 69.4% | 50.0% | ||
| Q1 25 | 67.6% | 53.6% | ||
| Q4 24 | 62.0% | 26.1% | ||
| Q3 24 | 64.1% | 50.0% | ||
| Q2 24 | 55.3% | 49.8% | ||
| Q1 24 | 56.9% | 49.5% |
营业利润率ADPTRGEN
| Q4 25 | -17.8% | 9.0% | ||
| Q3 25 | 10.9% | 8.9% | ||
| Q2 25 | -42.5% | 7.6% | ||
| Q1 25 | -56.4% | 3.9% | ||
| Q4 24 | -71.3% | -17.7% | ||
| Q3 24 | -70.3% | -5.1% | ||
| Q2 24 | -109.6% | 1.0% | ||
| Q1 24 | -116.5% | 1.3% |
净利率ADPTRGEN
| Q4 25 | -18.9% | 6.7% | ||
| Q3 25 | 10.2% | 7.9% | ||
| Q2 25 | -43.5% | 8.2% | ||
| Q1 25 | -56.9% | 3.4% | ||
| Q4 24 | -71.0% | -17.4% | ||
| Q3 24 | -69.1% | -0.4% | ||
| Q2 24 | -107.0% | 2.2% | ||
| Q1 24 | -113.5% | 1.4% |
每股收益（稀释后）ADPTRGEN
| Q4 25 | $-0.08 | $0.24 | ||
| Q3 25 | $0.06 | $0.26 | ||
| Q2 25 | $-0.17 | $0.26 | ||
| Q1 25 | $-0.20 | $0.10 | ||
| Q4 24 | $-0.22 | $-0.55 | ||
| Q3 24 | $-0.22 | $-0.01 | ||
| Q2 24 | $-0.31 | $0.06 | ||
| Q1 24 | $-0.33 | $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 | $70.5M | $767.6M |
| 总债务越低越好 | — | $542.2M |
| 股东权益账面价值 | $218.8M | $2.1B |
| 总资产 | $512.7M | $2.9B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资ADPTRGEN
| Q4 25 | $70.5M | $767.6M | ||
| Q3 25 | $55.0M | $748.7M | ||
| Q2 25 | $43.2M | $708.9M | ||
| Q1 25 | $50.6M | $697.2M | ||
| Q4 24 | $47.9M | $757.4M | ||
| Q3 24 | $38.1M | $784.0M | ||
| Q2 24 | $59.8M | $809.1M | ||
| Q1 24 | $71.2M | $780.6M |
总债务ADPTRGEN
| Q4 25 | — | $542.2M | ||
| Q3 25 | — | $537.9M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $525.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ADPTRGEN
| Q4 25 | $218.8M | $2.1B | ||
| Q3 25 | $204.4M | $2.1B | ||
| Q2 25 | $179.7M | $2.1B | ||
| Q1 25 | $190.4M | $2.0B | ||
| Q4 24 | $202.7M | $2.0B | ||
| Q3 24 | $223.8M | $2.0B | ||
| Q2 24 | $241.6M | $2.0B | ||
| Q1 24 | $274.9M | $2.0B |
总资产ADPTRGEN
| Q4 25 | $512.7M | $2.9B | ||
| Q3 25 | $490.6M | $2.9B | ||
| Q2 25 | $496.6M | $2.9B | ||
| Q1 25 | $510.9M | $2.9B | ||
| Q4 24 | $539.4M | $2.8B | ||
| Q3 24 | $558.5M | $2.8B | ||
| Q2 24 | $584.9M | $2.9B | ||
| Q1 24 | $620.3M | $2.8B |
负债/权益比ADPTRGEN
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 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 | $2.1M | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $1.4M | $17.6M |
| 自由现金流率自由现金流/营收 | 2.0% | 8.9% |
| 资本支出强度资本支出/营收 | 0.9% | 4.1% |
| 现金转化率经营现金流/净利润 | — | 1.93× |
| 过去12个月自由现金流最近4个季度 | $-48.9M | $93.9M |
8季度趋势，按日历期对齐
经营现金流ADPTRGEN
| Q4 25 | $2.1M | $25.7M | ||
| Q3 25 | $-7.1M | $48.1M | ||
| Q2 25 | $-12.4M | $28.6M | ||
| Q1 25 | $-28.5M | $15.0M | ||
| Q4 24 | $-12.5M | $39.2M | ||
| Q3 24 | $-27.1M | $49.3M | ||
| Q2 24 | $-17.3M | $42.2M | ||
| Q1 24 | $-38.4M | $44.7M |
自由现金流ADPTRGEN
| Q4 25 | $1.4M | $17.6M | ||
| Q3 25 | $-7.5M | $43.4M | ||
| Q2 25 | $-13.1M | $21.5M | ||
| Q1 25 | $-29.7M | $11.4M | ||
| Q4 24 | $-12.6M | $33.6M | ||
| Q3 24 | $-27.4M | $42.3M | ||
| Q2 24 | $-19.0M | $37.4M | ||
| Q1 24 | $-39.9M | $36.4M |
自由现金流率ADPTRGEN
| Q4 25 | 2.0% | 8.9% | ||
| Q3 25 | -8.0% | 23.0% | ||
| Q2 25 | -22.2% | 11.8% | ||
| Q1 25 | -56.7% | 6.8% | ||
| Q4 24 | -26.5% | 19.3% | ||
| Q3 24 | -59.0% | 27.3% | ||
| Q2 24 | -44.1% | 24.3% | ||
| Q1 24 | -95.2% | 24.0% |
资本支出强度ADPTRGEN
| Q4 25 | 0.9% | 4.1% | ||
| Q3 25 | 0.4% | 2.5% | ||
| Q2 25 | 1.1% | 3.9% | ||
| Q1 25 | 2.4% | 2.1% | ||
| Q4 24 | 0.2% | 3.2% | ||
| Q3 24 | 0.7% | 4.5% | ||
| Q2 24 | 4.0% | 3.1% | ||
| Q1 24 | 3.6% | 5.5% |
现金转化率ADPTRGEN
| Q4 25 | — | 1.93× | ||
| Q3 25 | -0.75× | 3.23× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 12.70× | ||
| Q1 24 | — | 21.35× |
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% |
RGEN
暂无分部数据
