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安霸（AMBA）与Vericel Corp（VCEL）财务数据对比。点击上方公司名可切换其他公司
安霸的季度营收约是Vericel Corp的1.2倍（$108.5M vs $92.9M），Vericel Corp净利率更高（25.0% vs -13.9%，领先38.9%），安霸同比增速更快（31.2% vs 23.3%），安霸自由现金流更多（$31.4M vs $12.8M），过去两年安霸的营收复合增速更高（45.0% vs 34.6%）
安霸是美国无晶圆厂半导体设计企业，专注于低功耗高清、超高清视频压缩、图像处理及计算机视觉处理器研发。其芯片产品广泛应用于视频安防、高级驾驶辅助系统、电子后视镜、行车记录仪、驾驶舱内监测、自动驾驶、机器人等多元人机视觉场景。
Vericel Corp是一家美国上市生物制药企业，前身为1989年在密歇根州安娜堡成立的Aastrom Bio，2014年10月正式更为现名，专注于生物制药相关领域的研发与商业化运营。
AMBA vs VCEL — 直观对比
营收规模更大
AMBA
是对方的1.2倍
$92.9M
营收增速更快
AMBA
高出7.9%
23.3%
净利率更高
VCEL
高出38.9%
-13.9%
自由现金流更多
AMBA
多$18.6M
$12.8M
两年增速更快
AMBA
近两年复合增速
34.6%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $108.5M | $92.9M |
| 净利润 | $-15.1M | $23.2M |
| 毛利率 | 59.6% | 78.7% |
| 营业利润率 | -15.0% | 24.1% |
| 净利率 | -13.9% | 25.0% |
| 营收同比 | 31.2% | 23.3% |
| 净利润同比 | 37.2% | 17.3% |
| 每股收益（稀释后） | $-0.35 | $0.46 |
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AMBAVCEL
| Q4 25 | $108.5M | $92.9M | ||
| Q3 25 | $95.5M | $67.5M | ||
| Q2 25 | $85.9M | $63.2M | ||
| Q1 25 | $84.0M | $52.6M | ||
| Q4 24 | $82.7M | $75.4M | ||
| Q3 24 | $63.7M | $57.9M | ||
| Q2 24 | $54.5M | $52.7M | ||
| Q1 24 | $51.6M | $51.3M |
净利润AMBAVCEL
| Q4 25 | $-15.1M | $23.2M | ||
| Q3 25 | $-20.0M | $5.1M | ||
| Q2 25 | $-24.3M | $-553.0K | ||
| Q1 25 | $-20.2M | $-11.2M | ||
| Q4 24 | $-24.1M | $19.8M | ||
| Q3 24 | $-34.9M | $-901.0K | ||
| Q2 24 | $-37.9M | $-4.7M | ||
| Q1 24 | $-60.6M | $-3.9M |
毛利率AMBAVCEL
| Q4 25 | 59.6% | 78.7% | ||
| Q3 25 | 58.9% | 73.5% | ||
| Q2 25 | 60.0% | 73.7% | ||
| Q1 25 | 60.0% | 69.0% | ||
| Q4 24 | 60.6% | 77.6% | ||
| Q3 24 | 60.8% | 71.9% | ||
| Q2 24 | 60.9% | 69.5% | ||
| Q1 24 | 59.8% | 68.9% |
营业利润率AMBAVCEL
| Q4 25 | -15.0% | 24.1% | ||
| Q3 25 | -23.0% | 5.1% | ||
| Q2 25 | -30.1% | -3.2% | ||
| Q1 25 | -30.2% | -24.3% | ||
| Q4 24 | -30.9% | 24.5% | ||
| Q3 24 | -56.9% | -4.3% | ||
| Q2 24 | -72.4% | -11.5% | ||
| Q1 24 | -80.8% | -10.7% |
净利率AMBAVCEL
| Q4 25 | -13.9% | 25.0% | ||
| Q3 25 | -20.9% | 7.5% | ||
| Q2 25 | -28.3% | -0.9% | ||
| Q1 25 | -24.1% | -21.4% | ||
| Q4 24 | -29.1% | 26.3% | ||
| Q3 24 | -54.8% | -1.6% | ||
| Q2 24 | -69.6% | -8.9% | ||
| Q1 24 | -117.4% | -7.5% |
每股收益（稀释后）AMBAVCEL
| Q4 25 | $-0.35 | $0.46 | ||
| Q3 25 | $-0.47 | $0.10 | ||
| Q2 25 | $-0.58 | $-0.01 | ||
| Q1 25 | $-0.48 | $-0.23 | ||
| Q4 24 | $-0.58 | $0.40 | ||
| Q3 24 | $-0.85 | $-0.02 | ||
| Q2 24 | $-0.93 | $-0.10 | ||
| Q1 24 | $-1.51 | $-0.08 |
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 | $174.1M | $137.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $590.1M | $354.6M |
| 总资产 | $751.9M | $488.0M |
| 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AMBAVCEL
| Q4 25 | $174.1M | $137.5M | ||
| Q3 25 | $142.7M | $135.4M | ||
| Q2 25 | $141.3M | $116.9M | ||
| Q1 25 | $144.6M | $112.9M | ||
| Q4 24 | $127.1M | $116.2M | ||
| Q3 24 | $153.9M | $101.7M | ||
| Q2 24 | $131.8M | $102.5M | ||
| Q1 24 | $144.9M | $110.6M |
股东权益AMBAVCEL
| Q4 25 | $590.1M | $354.6M | ||
| Q3 25 | $576.5M | $321.9M | ||
| Q2 25 | $572.7M | $306.8M | ||
| Q1 25 | $561.4M | $295.5M | ||
| Q4 24 | $554.3M | $292.0M | ||
| Q3 24 | $547.6M | $257.5M | ||
| Q2 24 | $555.4M | $243.0M | ||
| Q1 24 | $559.9M | $233.9M |
总资产AMBAVCEL
| Q4 25 | $751.9M | $488.0M | ||
| Q3 25 | $706.4M | $453.3M | ||
| Q2 25 | $701.9M | $435.6M | ||
| Q1 25 | $689.0M | $424.6M | ||
| Q4 24 | $670.8M | $432.7M | ||
| Q3 24 | $650.3M | $390.4M | ||
| Q2 24 | $638.7M | $376.8M | ||
| Q1 24 | $657.7M | $356.7M |
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 | $34.3M | $15.0M |
| 自由现金流经营现金流 - 资本支出 | $31.4M | $12.8M |
| 自由现金流率自由现金流/营收 | 29.0% | 13.8% |
| 资本支出强度资本支出/营收 | 2.7% | 2.4% |
| 现金转化率经营现金流/净利润 | — | 0.65× |
| 过去12个月自由现金流最近4个季度 | $64.3M | $24.7M |
8季度趋势，按日历期对齐
经营现金流AMBAVCEL
| Q4 25 | $34.3M | $15.0M | ||
| Q3 25 | $5.5M | $22.1M | ||
| Q2 25 | $14.8M | $8.2M | ||
| Q1 25 | $25.4M | $6.6M | ||
| Q4 24 | $6.6M | $22.2M | ||
| Q3 24 | $16.7M | $10.2M | ||
| Q2 24 | $-15.0M | $18.5M | ||
| Q1 24 | $-4.0M | $7.2M |
自由现金流AMBAVCEL
| Q4 25 | $31.4M | $12.8M | ||
| Q3 25 | $1.4M | $19.5M | ||
| Q2 25 | $10.2M | $81.0K | ||
| Q1 25 | $21.2M | $-7.6M | ||
| Q4 24 | $4.1M | $8.5M | ||
| Q3 24 | $14.2M | $-9.2M | ||
| Q2 24 | $-16.1M | $1.8M | ||
| Q1 24 | $-6.0M | $-6.8M |
自由现金流率AMBAVCEL
| Q4 25 | 29.0% | 13.8% | ||
| Q3 25 | 1.4% | 28.8% | ||
| Q2 25 | 11.9% | 0.1% | ||
| Q1 25 | 25.3% | -14.5% | ||
| Q4 24 | 5.0% | 11.2% | ||
| Q3 24 | 22.2% | -15.9% | ||
| Q2 24 | -29.5% | 3.4% | ||
| Q1 24 | -11.6% | -13.3% |
资本支出强度AMBAVCEL
| Q4 25 | 2.7% | 2.4% | ||
| Q3 25 | 4.3% | 3.9% | ||
| Q2 25 | 5.3% | 12.9% | ||
| Q1 25 | 5.0% | 27.0% | ||
| Q4 24 | 3.0% | 18.3% | ||
| Q3 24 | 4.0% | 33.5% | ||
| Q2 24 | 2.1% | 31.8% | ||
| Q1 24 | 3.7% | 27.3% |
现金转化率AMBAVCEL
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| 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
AMBA
| TW | $76.0M | 70% |
| Asia Pacific Other Than Taiwan | $20.2M | 19% |
| North America Other Than United States | $7.4M | 7% |
| Other | $5.0M | 5% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
