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AIR T INC（AIRT）与再鼎医药（ZLAB）财务数据对比。点击上方公司名可切换其他公司
再鼎医药的季度营收约是AIR T INC的1.8倍（$127.1M vs $71.1M），再鼎医药同比增速更快（17.1% vs -8.7%），AIR T INC自由现金流更多（$-19.3M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -1.1%）
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再鼎医药是一家创新生物制药企业，专注于肿瘤、自身免疫性疾病、感染性疾病等领域创新疗法的研发、生产与商业化，核心市场覆盖大中华区，与全球多家头部生物科技企业合作，为存在未被满足医疗需求的患者提供治疗方案。
AIRT vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.8倍
$71.1M
营收增速更快
ZLAB
高出25.8%
-8.7%
自由现金流更多
AIRT
多$7.4M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-1.1%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $71.1M | $127.1M |
| 净利润 | $-2.5M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | -5.3% | -54.6% |
| 净利率 | -3.4% | — |
| 营收同比 | -8.7% | 17.1% |
| 净利润同比 | -89.0% | — |
| 每股收益（稀释后） | $-0.91 | $-0.05 |
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AIRTZLAB
| Q4 25 | $71.1M | $127.1M | ||
| Q3 25 | $64.2M | $115.4M | ||
| Q2 25 | $70.9M | $109.1M | ||
| Q1 25 | $66.3M | $105.7M | ||
| Q4 24 | $77.9M | $108.5M | ||
| Q3 24 | $81.2M | $101.8M | ||
| Q2 24 | $66.4M | $100.1M | ||
| Q1 24 | $72.7M | $87.1M |
净利润AIRTZLAB
| Q4 25 | $-2.5M | — | ||
| Q3 25 | $4.4M | $-36.0M | ||
| Q2 25 | $-1.6M | $-40.7M | ||
| Q1 25 | $-7.0M | $-48.4M | ||
| Q4 24 | $-1.3M | — | ||
| Q3 24 | $2.5M | $-41.7M | ||
| Q2 24 | $-335.0K | $-80.3M | ||
| Q1 24 | $-1.7M | $-53.5M |
毛利率AIRTZLAB
| Q4 25 | — | 51.0% | ||
| Q3 25 | — | 59.5% | ||
| Q2 25 | — | 60.6% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 64.1% | ||
| Q2 24 | — | 64.9% | ||
| Q1 24 | — | 61.4% |
营业利润率AIRTZLAB
| Q4 25 | -5.3% | -54.6% | ||
| Q3 25 | 8.6% | -42.3% | ||
| Q2 25 | 0.6% | -50.3% | ||
| Q1 25 | -3.9% | -53.3% | ||
| Q4 24 | 1.8% | -62.6% | ||
| Q3 24 | 4.5% | -66.6% | ||
| Q2 24 | -0.9% | -76.0% | ||
| Q1 24 | 2.0% | -80.7% |
净利率AIRTZLAB
| Q4 25 | -3.4% | — | ||
| Q3 25 | 6.8% | -31.2% | ||
| Q2 25 | -2.3% | -37.3% | ||
| Q1 25 | -10.6% | -45.8% | ||
| Q4 24 | -1.7% | — | ||
| Q3 24 | 3.1% | -40.9% | ||
| Q2 24 | -0.5% | -80.2% | ||
| Q1 24 | -2.3% | -61.4% |
每股收益（稀释后）AIRTZLAB
| Q4 25 | $-0.91 | $-0.05 | ||
| Q3 25 | $1.61 | $-0.03 | ||
| Q2 25 | $-0.61 | $-0.04 | ||
| Q1 25 | $-2.55 | $-0.04 | ||
| Q4 24 | $-0.47 | $-0.09 | ||
| Q3 24 | $0.91 | $-0.04 | ||
| Q2 24 | $-0.12 | $-0.08 | ||
| Q1 24 | $-0.60 | $-0.05 |
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 | $38.0M | $689.6M |
| 总债务越低越好 | $194.2M | — |
| 股东权益账面价值 | $-1.2M | $715.5M |
| 总资产 | $381.8M | $1.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AIRTZLAB
| Q4 25 | $38.0M | $689.6M | ||
| Q3 25 | $18.6M | $717.2M | ||
| Q2 25 | $14.9M | $732.2M | ||
| Q1 25 | $6.4M | $757.3M | ||
| Q4 24 | $18.5M | $779.7M | ||
| Q3 24 | $8.6M | $616.1M | ||
| Q2 24 | $7.8M | $630.0M | ||
| Q1 24 | $7.6M | $650.8M |
总债务AIRTZLAB
| Q4 25 | $194.2M | — | ||
| Q3 25 | $118.4M | — | ||
| Q2 25 | $123.8M | — | ||
| Q1 25 | $110.3M | — | ||
| Q4 24 | $122.9M | — | ||
| Q3 24 | $126.8M | — | ||
| Q2 24 | $112.0M | — | ||
| Q1 24 | $112.9M | — |
股东权益AIRTZLAB
| Q4 25 | $-1.2M | $715.5M | ||
| Q3 25 | $69.0K | $759.9M | ||
| Q2 25 | $-4.6M | $791.7M | ||
| Q1 25 | $-3.2M | $810.8M | ||
| Q4 24 | $5.1M | $840.9M | ||
| Q3 24 | $7.0M | $667.7M | ||
| Q2 24 | $4.1M | $704.2M | ||
| Q1 24 | $4.8M | $762.2M |
总资产AIRTZLAB
| Q4 25 | $381.8M | $1.2B | ||
| Q3 25 | $184.7M | $1.2B | ||
| Q2 25 | $190.0M | $1.2B | ||
| Q1 25 | $173.8M | $1.2B | ||
| Q4 24 | $187.6M | $1.2B | ||
| Q3 24 | $197.1M | $985.3M | ||
| Q2 24 | $175.5M | $987.4M | ||
| Q1 24 | $177.2M | $988.4M |
负债/权益比AIRTZLAB
| Q4 25 | — | — | ||
| Q3 25 | 1716.32× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 24.03× | — | ||
| Q3 24 | 18.02× | — | ||
| Q2 24 | 27.17× | — | ||
| Q1 24 | 23.67× | — |
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 | $-18.5M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-19.3M | $-26.7M |
| 自由现金流率自由现金流/营收 | -27.1% | -21.0% |
| 资本支出强度资本支出/营收 | 1.1% | 0.5% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-22.3M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流AIRTZLAB
| Q4 25 | $-18.5M | $-26.0M | ||
| Q3 25 | $-5.4M | $-32.0M | ||
| Q2 25 | $-1.1M | $-31.0M | ||
| Q1 25 | $4.1M | $-61.7M | ||
| Q4 24 | $16.3M | $-55.8M | ||
| Q3 24 | $2.9M | $-26.8M | ||
| Q2 24 | $113.0K | $-42.2M | ||
| Q1 24 | $-6.0M | $-90.1M |
自由现金流AIRTZLAB
| Q4 25 | $-19.3M | $-26.7M | ||
| Q3 25 | $-5.6M | $-35.0M | ||
| Q2 25 | $-1.3M | $-33.9M | ||
| Q1 25 | $4.0M | $-63.2M | ||
| Q4 24 | $16.0M | $-58.4M | ||
| Q3 24 | $2.7M | $-28.2M | ||
| Q2 24 | $-226.0K | $-42.9M | ||
| Q1 24 | $-6.4M | $-91.1M |
自由现金流率AIRTZLAB
| Q4 25 | -27.1% | -21.0% | ||
| Q3 25 | -8.8% | -30.4% | ||
| Q2 25 | -1.9% | -31.1% | ||
| Q1 25 | 6.0% | -59.9% | ||
| Q4 24 | 20.5% | -53.8% | ||
| Q3 24 | 3.3% | -27.7% | ||
| Q2 24 | -0.3% | -42.9% | ||
| Q1 24 | -8.8% | -104.5% |
资本支出强度AIRTZLAB
| Q4 25 | 1.1% | 0.5% | ||
| Q3 25 | 0.3% | 2.6% | ||
| Q2 25 | 0.3% | 2.6% | ||
| Q1 25 | 0.2% | 1.5% | ||
| Q4 24 | 0.5% | 2.4% | ||
| Q3 24 | 0.3% | 1.3% | ||
| Q2 24 | 0.5% | 0.7% | ||
| Q1 24 | 0.5% | 1.1% |
现金转化率AIRTZLAB
| Q4 25 | — | — | ||
| Q3 25 | -1.24× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.16× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
AIRT
| Overnight Air Cargo Segment | $30.6M | 43% |
| Commercial Aircraft Engines And Parts Segment | $13.5M | 19% |
| Ground Support Equipment Segment | $12.6M | 18% |
| Products | $11.7M | 17% |
| Digital Solutions Segment | $1.9M | 3% |
| Corporate And Other Income | $1.3M | 2% |
ZLAB
| Zejula | $56.0M | 44% |
| Other | $21.9M | 17% |
| Nuzyra | $16.0M | 13% |
| Optune | $11.9M | 9% |
| XACDURO | $10.7M | 8% |
| Qinlock | $9.7M | 8% |
| AUGTYRO | $836.0K | 1% |
