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ADTRAN Holdings, Inc.（ADTN）与REPLIGEN CORP（RGEN）财务数据对比。点击上方公司名可切换其他公司
ADTRAN Holdings, Inc.的季度营收约是REPLIGEN CORP的1.5倍（$291.6M vs $197.9M），REPLIGEN CORP净利率更高（6.7% vs -1.2%，领先7.9%），ADTRAN Holdings, Inc.同比增速更快（20.1% vs 13.6%），ADTRAN Holdings, Inc.自由现金流更多（$30.6M vs $17.6M），过去两年REPLIGEN CORP的营收复合增速更高（14.4% vs 13.5%）
ADTRAN Holdings, Inc.是一家总部位于美国阿拉巴马州亨茨维尔的光纤网络与电信企业，主要面向通信服务商、政府机构、企业及公共事业单位，供应面向住宅用户与企业级的网络硬件设备，同时提供用于网络管理与部署的管理软件。
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。
ADTN vs RGEN — 直观对比
营收规模更大
ADTN
是对方的1.5倍
$197.9M
营收增速更快
ADTN
高出6.4%
13.6%
净利率更高
RGEN
高出7.9%
-1.2%
自由现金流更多
ADTN
多$13.0M
$17.6M
两年增速更快
RGEN
近两年复合增速
13.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.6M | $197.9M |
| 净利润 | $-3.6M | $13.3M |
| 毛利率 | 39.0% | 52.5% |
| 营业利润率 | 1.5% | 9.0% |
| 净利率 | -1.2% | 6.7% |
| 营收同比 | 20.1% | 13.6% |
| 净利润同比 | 92.2% | 143.9% |
| 每股收益（稀释后） | $-0.02 | $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ADTNRGEN
| Q4 25 | $291.6M | $197.9M | ||
| Q3 25 | $279.4M | $188.8M | ||
| Q2 25 | $265.1M | $182.4M | ||
| Q1 25 | $247.7M | $169.2M | ||
| Q4 24 | $242.9M | $174.1M | ||
| Q3 24 | $227.7M | $154.9M | ||
| Q2 24 | $226.0M | $154.1M | ||
| Q1 24 | $226.2M | $151.3M |
净利润ADTNRGEN
| Q4 25 | $-3.6M | $13.3M | ||
| Q3 25 | $-10.3M | $14.9M | ||
| Q2 25 | $-20.5M | $14.9M | ||
| Q1 25 | $-11.3M | $5.8M | ||
| Q4 24 | $-46.1M | $-30.3M | ||
| Q3 24 | $-33.3M | $-654.0K | ||
| Q2 24 | $-49.7M | $3.3M | ||
| Q1 24 | $-330.8M | $2.1M |
毛利率ADTNRGEN
| Q4 25 | 39.0% | 52.5% | ||
| Q3 25 | 38.3% | 53.2% | ||
| Q2 25 | 37.3% | 50.0% | ||
| Q1 25 | 38.4% | 53.6% | ||
| Q4 24 | 36.9% | 26.1% | ||
| Q3 24 | 36.5% | 50.0% | ||
| Q2 24 | 36.0% | 49.8% | ||
| Q1 24 | 31.1% | 49.5% |
营业利润率ADTNRGEN
| Q4 25 | 1.5% | 9.0% | ||
| Q3 25 | -1.0% | 8.9% | ||
| Q2 25 | -5.0% | 7.6% | ||
| Q1 25 | -1.6% | 3.9% | ||
| Q4 24 | -6.9% | -17.7% | ||
| Q3 24 | -11.5% | -5.1% | ||
| Q2 24 | -17.0% | 1.0% | ||
| Q1 24 | -153.1% | 1.3% |
净利率ADTNRGEN
| Q4 25 | -1.2% | 6.7% | ||
| Q3 25 | -3.7% | 7.9% | ||
| Q2 25 | -7.7% | 8.2% | ||
| Q1 25 | -4.5% | 3.4% | ||
| Q4 24 | -19.0% | -17.4% | ||
| Q3 24 | -14.6% | -0.4% | ||
| Q2 24 | -22.0% | 2.2% | ||
| Q1 24 | -146.2% | 1.4% |
每股收益（稀释后）ADTNRGEN
| Q4 25 | $-0.02 | $0.24 | ||
| Q3 25 | $-0.12 | $0.26 | ||
| Q2 25 | $-0.24 | $0.26 | ||
| Q1 25 | $-0.14 | $0.10 | ||
| Q4 24 | $-0.58 | $-0.55 | ||
| Q3 24 | $-0.38 | $-0.01 | ||
| Q2 24 | $-0.63 | $0.06 | ||
| Q1 24 | $-4.20 | $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 | $95.7M | $767.6M |
| 总债务越低越好 | — | $542.2M |
| 股东权益账面价值 | $145.8M | $2.1B |
| 总资产 | $1.2B | $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ADTNRGEN
| Q4 25 | $95.7M | $767.6M | ||
| Q3 25 | $93.7M | $748.7M | ||
| Q2 25 | $106.3M | $708.9M | ||
| Q1 25 | $101.3M | $697.2M | ||
| Q4 24 | $76.0M | $757.4M | ||
| Q3 24 | $88.5M | $784.0M | ||
| Q2 24 | $111.2M | $809.1M | ||
| Q1 24 | $106.8M | $780.6M |
总债务ADTNRGEN
| 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ADTNRGEN
| Q4 25 | $145.8M | $2.1B | ||
| Q3 25 | $141.6M | $2.1B | ||
| Q2 25 | $169.6M | $2.1B | ||
| Q1 25 | $138.9M | $2.0B | ||
| Q4 24 | $127.0M | $2.0B | ||
| Q3 24 | $205.6M | $2.0B | ||
| Q2 24 | $213.6M | $2.0B | ||
| Q1 24 | $260.8M | $2.0B |
总资产ADTNRGEN
| Q4 25 | $1.2B | $2.9B | ||
| Q3 25 | $1.2B | $2.9B | ||
| Q2 25 | $1.2B | $2.9B | ||
| Q1 25 | $1.2B | $2.9B | ||
| Q4 24 | $1.2B | $2.8B | ||
| Q3 24 | $1.3B | $2.8B | ||
| Q2 24 | $1.3B | $2.9B | ||
| Q1 24 | $1.3B | $2.8B |
负债/权益比ADTNRGEN
| 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 | $42.2M | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $30.6M | $17.6M |
| 自由现金流率自由现金流/营收 | 10.5% | 8.9% |
| 资本支出强度资本支出/营收 | 4.0% | 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 | $98.0M | $93.9M |
8季度趋势，按日历期对齐
经营现金流ADTNRGEN
| Q4 25 | $42.2M | $25.7M | ||
| Q3 25 | $12.2M | $48.1M | ||
| Q2 25 | $32.2M | $28.6M | ||
| Q1 25 | $43.2M | $15.0M | ||
| Q4 24 | $2.4M | $39.2M | ||
| Q3 24 | $43.3M | $49.3M | ||
| Q2 24 | $19.9M | $42.2M | ||
| Q1 24 | $37.9M | $44.7M |
自由现金流ADTNRGEN
| Q4 25 | $30.6M | $17.6M | ||
| Q3 25 | $4.2M | $43.4M | ||
| Q2 25 | $27.5M | $21.5M | ||
| Q1 25 | $35.8M | $11.4M | ||
| Q4 24 | $-895.0K | $33.6M | ||
| Q3 24 | $37.1M | $42.3M | ||
| Q2 24 | $8.4M | $37.4M | ||
| Q1 24 | $24.4M | $36.4M |
自由现金流率ADTNRGEN
| Q4 25 | 10.5% | 8.9% | ||
| Q3 25 | 1.5% | 23.0% | ||
| Q2 25 | 10.4% | 11.8% | ||
| Q1 25 | 14.4% | 6.8% | ||
| Q4 24 | -0.4% | 19.3% | ||
| Q3 24 | 16.3% | 27.3% | ||
| Q2 24 | 3.7% | 24.3% | ||
| Q1 24 | 10.8% | 24.0% |
资本支出强度ADTNRGEN
| Q4 25 | 4.0% | 4.1% | ||
| Q3 25 | 2.9% | 2.5% | ||
| Q2 25 | 1.8% | 3.9% | ||
| Q1 25 | 3.0% | 2.1% | ||
| Q4 24 | 1.4% | 3.2% | ||
| Q3 24 | 2.7% | 4.5% | ||
| Q2 24 | 5.1% | 3.1% | ||
| Q1 24 | 6.0% | 5.5% |
现金转化率ADTNRGEN
| Q4 25 | — | 1.93× | ||
| Q3 25 | — | 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
ADTN
| Subscriber Solutions | $96.2M | 33% |
| Optical Networking Solutions | $81.8M | 28% |
| Access Aggregation Solutions | $64.6M | 22% |
| Services And Support | $48.9M | 17% |
RGEN
暂无分部数据
