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Alexander & Baldwin, Inc.（ALEX）与STEM, INC.（STEM）财务数据对比。点击上方公司名可切换其他公司
Alexander & Baldwin, Inc.的季度营收约是STEM, INC.的1.1倍（$51.0M vs $47.1M），Alexander & Baldwin, Inc.净利率更高（7.4% vs -33.9%，领先41.3%），STEM, INC.同比增速更快（-15.6% vs -18.4%），过去两年STEM, INC.的营收复合增速更高（36.1% vs -8.7%）
亚历山大-鲍德温公司是一家美国企业，曾是夏威夷领地时期五大财团之一，也是五大财团中最晚停止甘蔗种植的企业。目前公司主营房地产开发、土地运营以及建材与建筑业务，截至2020年，该公司是夏威夷最大的私人土地持有者之一，在当地拥有超2.8万英亩土地，运营着36处收益性物业。
该公司是一家公开上市的生物制药企业，总部位于加利福尼亚州纽瓦克，专注研发纯化人类神经干细胞，旨在治疗中枢神经系统疾病与瘫痪，其所研发的神经干细胞可分化为中枢神经系统的神经元、星形胶质细胞与少突胶质细胞这三大主要细胞类型。
ALEX vs STEM — 直观对比
营收规模更大
ALEX
是对方的1.1倍
$47.1M
营收增速更快
STEM
高出2.8%
-18.4%
净利率更高
ALEX
高出41.3%
-33.9%
两年增速更快
STEM
近两年复合增速
-8.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $51.0M | $47.1M |
| 净利润 | $3.8M | $-16.0M |
| 毛利率 | — | 48.9% |
| 营业利润率 | 17.1% | -17.7% |
| 净利率 | 7.4% | -33.9% |
| 营收同比 | -18.4% | -15.6% |
| 净利润同比 | -69.7% | 68.8% |
| 每股收益（稀释后） | $0.05 | $-4.40 |
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ALEXSTEM
| Q4 25 | $51.0M | $47.1M | ||
| Q3 25 | $50.2M | $38.2M | ||
| Q2 25 | $51.7M | $38.4M | ||
| Q1 25 | $53.7M | $32.5M | ||
| Q4 24 | $62.4M | $55.8M | ||
| Q3 24 | $61.9M | $29.3M | ||
| Q2 24 | $51.0M | $34.0M | ||
| Q1 24 | $61.2M | $25.5M |
净利润ALEXSTEM
| Q4 25 | $3.8M | $-16.0M | ||
| Q3 25 | $14.3M | $-23.8M | ||
| Q2 25 | $25.1M | $202.5M | ||
| Q1 25 | $21.4M | $-25.0M | ||
| Q4 24 | $12.4M | $-51.1M | ||
| Q3 24 | $19.0M | $-148.3M | ||
| Q2 24 | $9.1M | $-582.3M | ||
| Q1 24 | $20.0M | $-72.3M |
毛利率ALEXSTEM
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
营业利润率ALEXSTEM
| Q4 25 | 17.1% | -17.7% | ||
| Q3 25 | 38.2% | -33.6% | ||
| Q2 25 | 54.4% | -34.8% | ||
| Q1 25 | 44.6% | -65.0% | ||
| Q4 24 | 28.3% | -84.4% | ||
| Q3 24 | 35.6% | -493.2% | ||
| Q2 24 | 31.8% | -1705.5% | ||
| Q1 24 | 38.9% | -267.0% |
净利率ALEXSTEM
| Q4 25 | 7.4% | -33.9% | ||
| Q3 25 | 28.5% | -62.2% | ||
| Q2 25 | 48.6% | 527.8% | ||
| Q1 25 | 39.9% | -76.9% | ||
| Q4 24 | 19.9% | -91.6% | ||
| Q3 24 | 30.7% | -506.3% | ||
| Q2 24 | 17.8% | -1712.6% | ||
| Q1 24 | 32.6% | -283.9% |
每股收益（稀释后）ALEXSTEM
| Q4 25 | $0.05 | $-4.40 | ||
| Q3 25 | $0.20 | $-2.84 | ||
| Q2 25 | $0.35 | $-1.79 | ||
| Q1 25 | $0.29 | $-0.15 | ||
| Q4 24 | $0.16 | $-15.29 | ||
| Q3 24 | $0.26 | $-18.24 | ||
| Q2 24 | $0.13 | $-71.81 | ||
| Q1 24 | $0.28 | $-0.46 |
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 | $11.3M | $48.9M |
| 总债务越低越好 | $491.6M | — |
| 股东权益账面价值 | $987.2M | $-249.4M |
| 总资产 | $1.7B | $308.9M |
| 负债/权益比越低杠杆越低 | 0.50× | — |
8季度趋势，按日历期对齐
现金及短期投资ALEXSTEM
| Q4 25 | $11.3M | $48.9M | ||
| Q3 25 | $17.3M | $43.1M | ||
| Q2 25 | $8.6M | $40.8M | ||
| Q1 25 | $16.9M | $58.6M | ||
| Q4 24 | $33.4M | $56.3M | ||
| Q3 24 | $17.9M | $75.4M | ||
| Q2 24 | $29.5M | $89.6M | ||
| Q1 24 | $15.7M | $112.8M |
总债务ALEXSTEM
| Q4 25 | $491.6M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $474.8M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ALEXSTEM
| Q4 25 | $987.2M | $-249.4M | ||
| Q3 25 | $1.0B | $-235.7M | ||
| Q2 25 | $1.0B | $-214.1M | ||
| Q1 25 | $1.0B | $-417.5M | ||
| Q4 24 | $1.0B | $-398.4M | ||
| Q3 24 | $998.2M | $-344.1M | ||
| Q2 24 | $1.0B | $-203.2M | ||
| Q1 24 | $1.0B | $371.6M |
总资产ALEXSTEM
| Q4 25 | $1.7B | $308.9M | ||
| Q3 25 | $1.7B | $362.6M | ||
| Q2 25 | $1.6B | $379.2M | ||
| Q1 25 | $1.6B | $405.1M | ||
| Q4 24 | $1.7B | $437.4M | ||
| Q3 24 | $1.7B | $537.8M | ||
| Q2 24 | $1.6B | $691.5M | ||
| Q1 24 | $1.6B | $1.3B |
负债/权益比ALEXSTEM
| Q4 25 | 0.50× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.47× | — | ||
| 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 | $79.5M | $8.2M |
| 自由现金流经营现金流 - 资本支出 | $27.3M | — |
| 自由现金流率自由现金流/营收 | 53.5% | — |
| 资本支出强度资本支出/营收 | 102.4% | — |
| 现金转化率经营现金流/净利润 | 21.06× | — |
| 过去12个月自由现金流最近4个季度 | $57.2M | — |
8季度趋势，按日历期对齐
经营现金流ALEXSTEM
| Q4 25 | $79.5M | $8.2M | ||
| Q3 25 | $24.5M | $11.4M | ||
| Q2 25 | $16.5M | $-21.3M | ||
| Q1 25 | $26.0M | $8.5M | ||
| Q4 24 | $98.0M | $-14.7M | ||
| Q3 24 | $35.3M | $-9.4M | ||
| Q2 24 | $22.3M | $-11.9M | ||
| Q1 24 | $16.1M | $-621.0K |
自由现金流ALEXSTEM
| Q4 25 | $27.3M | — | ||
| Q3 25 | $-3.7M | — | ||
| Q2 25 | $11.8M | — | ||
| Q1 25 | $21.8M | — | ||
| Q4 24 | $77.0M | — | ||
| Q3 24 | $31.4M | — | ||
| Q2 24 | $18.0M | — | ||
| Q1 24 | $12.3M | — |
自由现金流率ALEXSTEM
| Q4 25 | 53.5% | — | ||
| Q3 25 | -7.4% | — | ||
| Q2 25 | 22.8% | — | ||
| Q1 25 | 40.6% | — | ||
| Q4 24 | 123.4% | — | ||
| Q3 24 | 50.8% | — | ||
| Q2 24 | 35.3% | — | ||
| Q1 24 | 20.1% | — |
资本支出强度ALEXSTEM
| Q4 25 | 102.4% | — | ||
| Q3 25 | 56.1% | — | ||
| Q2 25 | 9.1% | — | ||
| Q1 25 | 7.8% | — | ||
| Q4 24 | 33.5% | — | ||
| Q3 24 | 6.2% | — | ||
| Q2 24 | 8.4% | — | ||
| Q1 24 | 6.1% | — |
现金转化率ALEXSTEM
| Q4 25 | 21.06× | — | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 0.66× | -0.11× | ||
| Q1 25 | 1.21× | — | ||
| Q4 24 | 7.88× | — | ||
| Q3 24 | 1.86× | — | ||
| Q2 24 | 2.45× | — | ||
| Q1 24 | 0.80× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
