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Alector, Inc.（ALEC）与MESABI TRUST（MSB）财务数据对比。点击上方公司名可切换其他公司
Alector, Inc.的季度营收约是MESABI TRUST的1.7倍（$6.2M vs $3.6M），Alector, Inc.同比增速更快（-88.5% vs -95.5%），过去两年MESABI TRUST的营收复合增速更高（-24.1% vs -37.4%）
Alector是一家临床阶段生物制药企业，专注于神经退行性疾病的免疫疗法研发，管线覆盖阿尔茨海默病、额颞叶痴呆、帕金森病等未被满足的医疗需求，主要在美国运营，与全球药企合作推进候选药物的临床试验。
梅萨比信托是一家总部位于美国的特许权信托机构，持有明尼苏达州梅萨比山脉铁矿开采资产的特许权权益，主要通过与铁矿石生产销售挂钩的特许权使用费获得收益，服务于全球钢铁制造市场。
ALEC vs MSB — 直观对比
营收规模更大
ALEC
是对方的1.7倍
$3.6M
营收增速更快
ALEC
高出7.0%
-95.5%
两年增速更快
MSB
近两年复合增速
-37.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.2M | $3.6M |
| 净利润 | — | $2.8M |
| 毛利率 | — | 77.1% |
| 营业利润率 | — | — |
| 净利率 | — | 77.1% |
| 营收同比 | -88.5% | -95.5% |
| 净利润同比 | -1696.9% | -96.5% |
| 每股收益（稀释后） | — | — |
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ALECMSB
| Q4 25 | $6.2M | $3.6M | ||
| Q3 25 | $3.3M | $5.6M | ||
| Q2 25 | $7.9M | $4.7M | ||
| Q1 25 | $3.7M | $6.9M | ||
| Q4 24 | $54.2M | $79.0M | ||
| Q3 24 | $15.3M | $6.5M | ||
| Q2 24 | $15.1M | $6.3M | ||
| Q1 24 | $15.9M | $6.2M |
净利润ALECMSB
| Q4 25 | — | $2.8M | ||
| Q3 25 | $-34.7M | $4.7M | ||
| Q2 25 | $-30.5M | $3.6M | ||
| Q1 25 | $-40.5M | $6.1M | ||
| Q4 24 | $-2.1M | $78.3M | ||
| Q3 24 | $-42.2M | $5.4M | ||
| Q2 24 | $-38.7M | $3.5M | ||
| Q1 24 | $-36.1M | $4.7M |
毛利率ALECMSB
| Q4 25 | — | 77.1% | ||
| Q3 25 | — | 84.6% | ||
| Q2 25 | — | 76.7% | ||
| Q1 25 | — | 88.5% | ||
| Q4 24 | — | 99.1% | ||
| Q3 24 | — | 83.2% | ||
| Q2 24 | — | 55.7% | ||
| Q1 24 | — | 75.3% |
营业利润率ALECMSB
| Q4 25 | — | — | ||
| Q3 25 | -1153.6% | — | ||
| Q2 25 | -433.6% | — | ||
| Q1 25 | -1216.5% | — | ||
| Q4 24 | -13.4% | — | ||
| Q3 24 | -315.7% | — | ||
| Q2 24 | -302.4% | — | ||
| Q1 24 | -275.0% | — |
净利率ALECMSB
| Q4 25 | — | 77.1% | ||
| Q3 25 | -1063.4% | 84.6% | ||
| Q2 25 | -387.7% | 76.7% | ||
| Q1 25 | -1101.6% | 88.5% | ||
| Q4 24 | -3.8% | 99.1% | ||
| Q3 24 | -275.2% | 83.2% | ||
| Q2 24 | -256.4% | 55.7% | ||
| Q1 24 | -227.0% | 75.3% |
每股收益（稀释后）ALECMSB
| Q4 25 | — | — | ||
| Q3 25 | $-0.34 | — | ||
| Q2 25 | $-0.30 | — | ||
| Q1 25 | $-0.41 | — | ||
| Q4 24 | $-0.02 | — | ||
| Q3 24 | $-0.43 | — | ||
| Q2 24 | $-0.40 | — | ||
| Q1 24 | $-0.38 | — |
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 | $256.0M | — |
| 总债务越低越好 | $10.0M | — |
| 股东权益账面价值 | $30.6M | $21.1M |
| 总资产 | $293.2M | $26.0M |
| 负债/权益比越低杠杆越低 | 0.33× | — |
8季度趋势，按日历期对齐
现金及短期投资ALECMSB
| Q4 25 | $256.0M | — | ||
| Q3 25 | $291.1M | — | ||
| Q2 25 | $307.3M | — | ||
| Q1 25 | $354.6M | — | ||
| Q4 24 | $413.4M | — | ||
| Q3 24 | $457.2M | — | ||
| Q2 24 | $503.3M | — | ||
| Q1 24 | $562.1M | — |
总债务ALECMSB
| Q4 25 | $10.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $10.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ALECMSB
| Q4 25 | $30.6M | $21.1M | ||
| Q3 25 | $57.7M | $22.8M | ||
| Q2 25 | $71.2M | $19.6M | ||
| Q1 25 | $94.6M | $23.3M | ||
| Q4 24 | $126.8M | $95.3M | ||
| Q3 24 | $118.9M | $22.1M | ||
| Q2 24 | $150.6M | $20.7M | ||
| Q1 24 | $178.9M | $21.0M |
总资产ALECMSB
| Q4 25 | $293.2M | $26.0M | ||
| Q3 25 | $335.3M | $24.8M | ||
| Q2 25 | $356.4M | $27.4M | ||
| Q1 25 | $408.3M | $101.7M | ||
| Q4 24 | $468.3M | $100.7M | ||
| Q3 24 | $516.0M | $26.2M | ||
| Q2 24 | $570.7M | $25.1M | ||
| Q1 24 | $635.5M | $26.7M |
负债/权益比ALECMSB
| Q4 25 | 0.33× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.08× | — | ||
| 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 | $-184.0M | $3.5M |
| 自由现金流经营现金流 - 资本支出 | $-184.1M | — |
| 自由现金流率自由现金流/营收 | -2951.3% | — |
| 资本支出强度资本支出/营收 | 0.7% | — |
| 现金转化率经营现金流/净利润 | — | 1.27× |
| 过去12个月自由现金流最近4个季度 | $-326.5M | — |
8季度趋势，按日历期对齐
经营现金流ALECMSB
| Q4 25 | $-184.0M | $3.5M | ||
| Q3 25 | $-32.5M | $4.4M | ||
| Q2 25 | $-49.0M | $2.1M | ||
| Q1 25 | $-60.8M | $93.9M | ||
| Q4 24 | $-55.0M | $78.2M | ||
| Q3 24 | $-50.7M | $3.8M | ||
| Q2 24 | $-62.8M | $2.5M | ||
| Q1 24 | $-61.3M | $14.6M |
自由现金流ALECMSB
| Q4 25 | $-184.1M | — | ||
| Q3 25 | $-32.5M | — | ||
| Q2 25 | $-49.1M | — | ||
| Q1 25 | $-60.8M | — | ||
| Q4 24 | $-55.2M | — | ||
| Q3 24 | $-50.9M | — | ||
| Q2 24 | $-63.1M | — | ||
| Q1 24 | $-61.9M | — |
自由现金流率ALECMSB
| Q4 25 | -2951.3% | — | ||
| Q3 25 | -997.6% | — | ||
| Q2 25 | -623.0% | — | ||
| Q1 25 | -1655.0% | — | ||
| Q4 24 | -101.8% | — | ||
| Q3 24 | -332.1% | — | ||
| Q2 24 | -418.6% | — | ||
| Q1 24 | -389.3% | — |
资本支出强度ALECMSB
| Q4 25 | 0.7% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 1.4% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 3.4% | — |
现金转化率ALECMSB
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | 0.92× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 15.48× | ||
| Q4 24 | — | 1.00× | ||
| Q3 24 | — | 0.71× | ||
| Q2 24 | — | 0.72× | ||
| Q1 24 | — | 3.11× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
