vs
Alector, Inc.（ALEC）与维珍银河（SPCE）财务数据对比。点击上方公司名可切换其他公司
Alector, Inc.的季度营收约是维珍银河的1.5倍（$6.2M vs $4.2M），维珍银河同比增速更快（125.5% vs -88.5%），维珍银河自由现金流更多（$-113.5M vs $-184.1M）
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。
维珍银河控股是英美合资的太空飞行公司，由理查德·布兰森创立，维珍集团通过维珍投资有限公司持有该公司11.9%的股份，公司核心业务围绕商业载人太空旅行展开，是全球商业太空探索领域的先行者。
ALEC vs SPCE — 直观对比
营收规模更大
ALEC
是对方的1.5倍
$4.2M
营收增速更快
SPCE
高出214.0%
-88.5%
自由现金流更多
SPCE
多$70.5M
$-184.1M
损益表 — Q4 FY2025 vs Q2 FY2024
| 指标 | | |
|---|---|---|
| 营收 | $6.2M | $4.2M |
| 净利润 | — | $-93.8M |
| 毛利率 | — | -546.6% |
| 营业利润率 | — | -2412.1% |
| 净利率 | — | -2222.2% |
| 营收同比 | -88.5% | 125.5% |
| 净利润同比 | -1696.9% | 30.2% |
| 每股收益（稀释后） | — | $-4.36 |
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ALECSPCE
| Q4 25 | $6.2M | — | ||
| Q3 25 | $3.3M | — | ||
| Q2 25 | $7.9M | — | ||
| Q1 25 | $3.7M | — | ||
| Q4 24 | $54.2M | — | ||
| Q3 24 | $15.3M | — | ||
| Q2 24 | $15.1M | $4.2M | ||
| Q1 24 | $15.9M | $2.0M |
净利润ALECSPCE
| Q4 25 | — | — | ||
| Q3 25 | $-34.7M | — | ||
| Q2 25 | $-30.5M | — | ||
| Q1 25 | $-40.5M | — | ||
| Q4 24 | $-2.1M | — | ||
| Q3 24 | $-42.2M | — | ||
| Q2 24 | $-38.7M | $-93.8M | ||
| Q1 24 | $-36.1M | $-102.0M |
毛利率ALECSPCE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -546.6% | ||
| Q1 24 | — | -1038.1% |
营业利润率ALECSPCE
| 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% | -2412.1% | ||
| Q1 24 | -275.0% | -5599.9% |
净利率ALECSPCE
| Q4 25 | — | — | ||
| Q3 25 | -1063.4% | — | ||
| Q2 25 | -387.7% | — | ||
| Q1 25 | -1101.6% | — | ||
| Q4 24 | -3.8% | — | ||
| Q3 24 | -275.2% | — | ||
| Q2 24 | -256.4% | -2222.2% | ||
| Q1 24 | -227.0% | -5139.1% |
每股收益（稀释后）ALECSPCE
| 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 | $-4.36 | ||
| Q1 24 | $-0.38 | $-5.10 |
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 | $775.7M |
| 总债务越低越好 | $10.0M | — |
| 股东权益账面价值 | $30.6M | $394.8M |
| 总资产 | $293.2M | $1.1B |
| 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ALECSPCE
| 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 | $775.7M | ||
| Q1 24 | $562.1M | $765.2M |
总债务ALECSPCE
| Q4 25 | $10.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $10.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ALECSPCE
| Q4 25 | $30.6M | — | ||
| Q3 25 | $57.7M | — | ||
| Q2 25 | $71.2M | — | ||
| Q1 25 | $94.6M | — | ||
| Q4 24 | $126.8M | — | ||
| Q3 24 | $118.9M | — | ||
| Q2 24 | $150.6M | $394.8M | ||
| Q1 24 | $178.9M | $417.6M |
总资产ALECSPCE
| Q4 25 | $293.2M | — | ||
| Q3 25 | $335.3M | — | ||
| Q2 25 | $356.4M | — | ||
| Q1 25 | $408.3M | — | ||
| Q4 24 | $468.3M | — | ||
| Q3 24 | $516.0M | — | ||
| Q2 24 | $570.7M | $1.1B | ||
| Q1 24 | $635.5M | $1.1B |
负债/权益比ALECSPCE
| 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 | $-79.1M |
| 自由现金流经营现金流 - 资本支出 | $-184.1M | $-113.5M |
| 自由现金流率自由现金流/营收 | -2951.3% | -2690.7% |
| 资本支出强度资本支出/营收 | 0.7% | 815.5% |
| 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 | $-326.5M | $-458.3M |
8季度趋势，按日历期对齐
经营现金流ALECSPCE
| Q4 25 | $-184.0M | — | ||
| Q3 25 | $-32.5M | — | ||
| Q2 25 | $-49.0M | — | ||
| Q1 25 | $-60.8M | — | ||
| Q4 24 | $-55.0M | — | ||
| Q3 24 | $-50.7M | — | ||
| Q2 24 | $-62.8M | $-79.1M | ||
| Q1 24 | $-61.3M | $-113.2M |
自由现金流ALECSPCE
| 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 | $-113.5M | ||
| Q1 24 | $-61.9M | $-126.3M |
自由现金流率ALECSPCE
| 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% | -2690.7% | ||
| Q1 24 | -389.3% | -6362.8% |
资本支出强度ALECSPCE
| 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% | 815.5% | ||
| Q1 24 | 3.4% | 658.5% |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
