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奥尼兰姆制药（ALNY）与GENMAB A/S（GMAB）财务数据对比。点击上方公司名可切换其他公司
奥尼兰姆制药的季度营收约是GENMAB A/S的1.2倍（$1.1B vs $925.0M），GENMAB A/S净利率更高（36.3% vs 17.0%，领先19.3%），奥尼兰姆制药同比增速更快（84.9% vs 18.7%），GENMAB A/S自由现金流更多（$327.0M vs $140.3M）
奥尼兰姆制药是美国生物制药企业，2002年成立，总部位于马萨诸塞州剑桥市，专注于研发及商业化针对基因明确疾病的RNA干扰（RNAi）疗法，2016年入选福布斯「100家最具创新力成长企业」榜单。
Genmab A/S是丹麦生物技术企业，1999年2月由原BankInvest生物医药风险基金董事总经理Florian Schönharting创立，总部位于丹麦哥本哈根，在荷兰乌得勒支、美国新泽西州普林斯顿、日本东京、德国慕尼黑及中国苏州均设有子公司，深耕生物科技领域的研发与运营。
ALNY vs GMAB — 直观对比
营收规模更大
ALNY
是对方的1.2倍
$925.0M
营收增速更快
ALNY
高出66.2%
18.7%
净利率更高
GMAB
高出19.3%
17.0%
自由现金流更多
GMAB
多$186.7M
$140.3M
损益表 — Q4 FY2025 vs Q2 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $925.0M |
| 净利润 | $186.4M | $336.0M |
| 毛利率 | 75.6% | 93.8% |
| 营业利润率 | 12.0% | 38.9% |
| 净利率 | 17.0% | 36.3% |
| 营收同比 | 84.9% | 18.7% |
| 净利润同比 | 322.6% | 65.5% |
| 每股收益（稀释后） | $1.44 | $5.42 |
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ALNYGMAB
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $773.7M | $925.0M | ||
| Q1 25 | $594.2M | — | ||
| Q4 24 | $593.2M | — | ||
| Q3 24 | $500.9M | — | ||
| Q2 24 | $659.8M | $779.0M | ||
| Q1 24 | $494.3M | — |
净利润ALNYGMAB
| Q4 25 | $186.4M | — | ||
| Q3 25 | $251.1M | — | ||
| Q2 25 | $-66.3M | $336.0M | ||
| Q1 25 | $-57.5M | — | ||
| Q4 24 | $-83.8M | — | ||
| Q3 24 | $-111.6M | — | ||
| Q2 24 | $-16.9M | $203.0M | ||
| Q1 24 | $-65.9M | — |
毛利率ALNYGMAB
| Q4 25 | 75.6% | — | ||
| Q3 25 | 84.2% | — | ||
| Q2 25 | 81.6% | 93.8% | ||
| Q1 25 | 88.2% | — | ||
| Q4 24 | 82.7% | — | ||
| Q3 24 | 83.6% | — | ||
| Q2 24 | 89.8% | 96.4% | ||
| Q1 24 | 89.0% | — |
营业利润率ALNYGMAB
| Q4 25 | 12.0% | — | ||
| Q3 25 | 29.5% | — | ||
| Q2 25 | -2.1% | 38.9% | ||
| Q1 25 | 3.0% | — | ||
| Q4 24 | -17.7% | — | ||
| Q3 24 | -15.4% | — | ||
| Q2 24 | 7.4% | 30.3% | ||
| Q1 24 | -8.8% | — |
净利率ALNYGMAB
| Q4 25 | 17.0% | — | ||
| Q3 25 | 20.1% | — | ||
| Q2 25 | -8.6% | 36.3% | ||
| Q1 25 | -9.7% | — | ||
| Q4 24 | -14.1% | — | ||
| Q3 24 | -22.3% | — | ||
| Q2 24 | -2.6% | 26.1% | ||
| Q1 24 | -13.3% | — |
每股收益（稀释后）ALNYGMAB
| Q4 25 | $1.44 | — | ||
| Q3 25 | $1.84 | — | ||
| Q2 25 | $-0.51 | $5.42 | ||
| Q1 25 | $-0.44 | — | ||
| Q4 24 | $-0.66 | — | ||
| Q3 24 | $-0.87 | — | ||
| Q2 24 | $-0.13 | $3.13 | ||
| Q1 24 | $-0.52 | — |
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 | $1.7B | $1.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $789.2M | $5.3B |
| 总资产 | $5.0B | $6.5B |
| 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ALNYGMAB
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $966.4M | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $968.5M | $622.0M | ||
| Q1 24 | $681.9M | — |
股东权益ALNYGMAB
| Q4 25 | $789.2M | — | ||
| Q3 25 | $233.9M | — | ||
| Q2 25 | $250.6M | $5.3B | ||
| Q1 25 | $115.4M | — | ||
| Q4 24 | $67.1M | — | ||
| Q3 24 | $32.4M | — | ||
| Q2 24 | $-3.1M | $4.4B | ||
| Q1 24 | $-219.3M | — |
总资产ALNYGMAB
| Q4 25 | $5.0B | — | ||
| Q3 25 | $4.9B | — | ||
| Q2 25 | $4.6B | $6.5B | ||
| Q1 25 | $4.2B | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.0B | $5.6B | ||
| Q1 24 | $3.8B | — |
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 | $163.6M | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $140.3M | $327.0M |
| 自由现金流率自由现金流/营收 | 12.8% | 35.4% |
| 资本支出强度资本支出/营收 | 2.1% | 2.4% |
| 现金转化率经营现金流/净利润 | 0.88× | 1.04× |
| 过去12个月自由现金流最近4个季度 | $465.4M | — |
8季度趋势，按日历期对齐
经营现金流ALNYGMAB
| Q4 25 | $163.6M | — | ||
| Q3 25 | $325.1M | — | ||
| Q2 25 | $153.7M | $349.0M | ||
| Q1 25 | $-118.3M | — | ||
| Q4 24 | $-94.7M | — | ||
| Q3 24 | $43.7M | — | ||
| Q2 24 | $124.2M | $438.0M | ||
| Q1 24 | $-81.5M | — |
自由现金流ALNYGMAB
| Q4 25 | $140.3M | — | ||
| Q3 25 | $313.0M | — | ||
| Q2 25 | $139.4M | $327.0M | ||
| Q1 25 | $-127.3M | — | ||
| Q4 24 | $-103.8M | — | ||
| Q3 24 | $39.5M | — | ||
| Q2 24 | $116.1M | $430.0M | ||
| Q1 24 | $-94.5M | — |
自由现金流率ALNYGMAB
| Q4 25 | 12.8% | — | ||
| Q3 25 | 25.1% | — | ||
| Q2 25 | 18.0% | 35.4% | ||
| Q1 25 | -21.4% | — | ||
| Q4 24 | -17.5% | — | ||
| Q3 24 | 7.9% | — | ||
| Q2 24 | 17.6% | 55.2% | ||
| Q1 24 | -19.1% | — |
资本支出强度ALNYGMAB
| Q4 25 | 2.1% | — | ||
| Q3 25 | 1.0% | — | ||
| Q2 25 | 1.8% | 2.4% | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 0.8% | — | ||
| Q2 24 | 1.2% | 1.0% | ||
| Q1 24 | 2.6% | — |
现金转化率ALNYGMAB
| Q4 25 | 0.88× | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | — | 1.04× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.16× | ||
| 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
ALNY
| TTR | $858.3M | 78% |
| Rare | $136.4M | 12% |
| GIVLAARI | $56.3M | 5% |
| Collaborative Arrangement | $40.9M | 4% |
| ONPATTRO | $12.0M | 1% |
GMAB
| Darzalex | $638.0M | 69% |
| Kesimpta | $108.0M | 12% |
| Net Product Sales | $101.0M | 11% |
| Other | $28.0M | 3% |
| Tepezza | $20.0M | 2% |
| Reimbursement Revenue | $13.0M | 1% |
| Bio N Tech | $11.0M | 1% |
| Abb Vie | $5.0M | 1% |
| Milestone Revenue | $1.0M | 0% |
