vs
American Well Corp（AMWL）与STEM, INC.（STEM）财务数据对比。点击上方公司名可切换其他公司
American Well Corp的季度营收约是STEM, INC.的1.2倍（$55.3M vs $47.1M），STEM, INC.净利率更高（-33.9% vs -45.1%，领先11.2%），STEM, INC.同比增速更快（-15.6% vs -22.1%），过去两年STEM, INC.的营收复合增速更高（36.1% vs -3.6%）
美国烟草公司由J.B.杜克于1890年整合多家美国烟草制造商合并创立，1896年成为道琼斯工业平均指数最初的12支成分股之一。该公司收购了好彩公司及超过200家竞争对手，一度垄断美国烟草行业。1907年美国联邦政府发起反垄断诉讼，最终将该公司分拆为多家企业。
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。
AMWL vs STEM — 直观对比
营收规模更大
AMWL
是对方的1.2倍
$47.1M
营收增速更快
STEM
高出6.6%
-22.1%
净利率更高
STEM
高出11.2%
-45.1%
两年增速更快
STEM
近两年复合增速
-3.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $55.3M | $47.1M |
| 净利润 | $-24.9M | $-16.0M |
| 毛利率 | — | 48.9% |
| 营业利润率 | -45.5% | -17.7% |
| 净利率 | -45.1% | -33.9% |
| 营收同比 | -22.1% | -15.6% |
| 净利润同比 | 41.6% | 68.8% |
| 每股收益（稀释后） | $-1.53 | $-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AMWLSTEM
| Q4 25 | $55.3M | $47.1M | ||
| Q3 25 | $56.3M | $38.2M | ||
| Q2 25 | $70.9M | $38.4M | ||
| Q1 25 | $66.8M | $32.5M | ||
| Q4 24 | $71.0M | $55.8M | ||
| Q3 24 | $61.0M | $29.3M | ||
| Q2 24 | $62.8M | $34.0M | ||
| Q1 24 | $59.5M | $25.5M |
净利润AMWLSTEM
| Q4 25 | $-24.9M | $-16.0M | ||
| Q3 25 | $-32.4M | $-23.8M | ||
| Q2 25 | $-19.7M | $202.5M | ||
| Q1 25 | $-18.7M | $-25.0M | ||
| Q4 24 | $-42.7M | $-51.1M | ||
| Q3 24 | $-43.5M | $-148.3M | ||
| Q2 24 | $-49.9M | $-582.3M | ||
| Q1 24 | $-72.1M | $-72.3M |
毛利率AMWLSTEM
| 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AMWLSTEM
| Q4 25 | -45.5% | -17.7% | ||
| Q3 25 | -52.1% | -33.6% | ||
| Q2 25 | -28.7% | -34.8% | ||
| Q1 25 | -45.5% | -65.0% | ||
| Q4 24 | -60.2% | -84.4% | ||
| Q3 24 | -77.6% | -493.2% | ||
| Q2 24 | -83.4% | -1705.5% | ||
| Q1 24 | -126.1% | -267.0% |
净利率AMWLSTEM
| Q4 25 | -45.1% | -33.9% | ||
| Q3 25 | -57.5% | -62.2% | ||
| Q2 25 | -27.8% | 527.8% | ||
| Q1 25 | -28.0% | -76.9% | ||
| Q4 24 | -60.1% | -91.6% | ||
| Q3 24 | -71.2% | -506.3% | ||
| Q2 24 | -79.5% | -1712.6% | ||
| Q1 24 | -121.1% | -283.9% |
每股收益（稀释后）AMWLSTEM
| Q4 25 | $-1.53 | $-4.40 | ||
| Q3 25 | $-2.00 | $-2.84 | ||
| Q2 25 | $-1.24 | $-1.79 | ||
| Q1 25 | $-1.19 | $-0.15 | ||
| Q4 24 | $-2.71 | $-15.29 | ||
| Q3 24 | $-2.87 | $-18.24 | ||
| Q2 24 | $-3.36 | $-71.81 | ||
| Q1 24 | $-4.94 | $-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 | $182.3M | $48.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $235.6M | $-249.4M |
| 总资产 | $323.8M | $308.9M |
| 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AMWLSTEM
| Q4 25 | $182.3M | $48.9M | ||
| Q3 25 | $200.9M | $43.1M | ||
| Q2 25 | $219.1M | $40.8M | ||
| Q1 25 | $222.4M | $58.6M | ||
| Q4 24 | $228.3M | $56.3M | ||
| Q3 24 | $244.6M | $75.4M | ||
| Q2 24 | $276.9M | $89.6M | ||
| Q1 24 | $308.6M | $112.8M |
股东权益AMWLSTEM
| Q4 25 | $235.6M | $-249.4M | ||
| Q3 25 | $254.9M | $-235.7M | ||
| Q2 25 | $282.6M | $-214.1M | ||
| Q1 25 | $294.0M | $-417.5M | ||
| Q4 24 | $304.8M | $-398.4M | ||
| Q3 24 | $336.7M | $-344.1M | ||
| Q2 24 | $363.9M | $-203.2M | ||
| Q1 24 | $408.7M | $371.6M |
总资产AMWLSTEM
| Q4 25 | $323.8M | $308.9M | ||
| Q3 25 | $359.4M | $362.6M | ||
| Q2 25 | $388.7M | $379.2M | ||
| Q1 25 | $419.5M | $405.1M | ||
| Q4 24 | $436.0M | $437.4M | ||
| Q3 24 | $483.0M | $537.8M | ||
| Q2 24 | $507.8M | $691.5M | ||
| Q1 24 | $548.4M | $1.3B |
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 | $-17.4M | $8.2M |
| 自由现金流经营现金流 - 资本支出 | $-17.4M | — |
| 自由现金流率自由现金流/营收 | -31.4% | — |
| 资本支出强度资本支出/营收 | 0.0% | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流AMWLSTEM
| Q4 25 | $-17.4M | $8.2M | ||
| Q3 25 | $-18.8M | $11.4M | ||
| Q2 25 | $-4.7M | $-21.3M | ||
| Q1 25 | $-25.1M | $8.5M | ||
| Q4 24 | $-13.4M | $-14.7M | ||
| Q3 24 | $-32.4M | $-9.4M | ||
| Q2 24 | $-21.8M | $-11.9M | ||
| Q1 24 | $-59.8M | $-621.0K |
自由现金流AMWLSTEM
| Q4 25 | $-17.4M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-25.1M | — | ||
| Q4 24 | $-13.4M | — | ||
| Q3 24 | $-32.4M | — | ||
| Q2 24 | $-21.8M | — | ||
| Q1 24 | $-59.8M | — |
自由现金流率AMWLSTEM
| Q4 25 | -31.4% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -37.6% | — | ||
| Q4 24 | -18.9% | — | ||
| Q3 24 | -53.0% | — | ||
| Q2 24 | -34.7% | — | ||
| Q1 24 | -100.5% | — |
资本支出强度AMWLSTEM
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.1% | — |
现金转化率AMWLSTEM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.11× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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
AMWL
| Platform Subscription | $28.8M | 52% |
| Visits | $23.7M | 43% |
| Others | $2.8M | 5% |
STEM
暂无分部数据
