vs
Artisan Partners Asset Management Inc.（APAM）与和黄医药（HCM）财务数据对比。点击上方公司名可切换其他公司
Artisan Partners Asset Management Inc.的季度营收约是和黄医药的1.2倍（$335.5M vs $270.8M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs 0.7%，领先34.5%），Artisan Partners Asset Management Inc.同比增速更快（12.9% vs -16.5%），Artisan Partners Asset Management Inc.自由现金流更多（$171.6M vs $3.4M）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
和黄医药是一家国际化生物制药企业，专注于肿瘤、免疫类疾病的靶向疗法与免疫疗法的研发、生产及商业化，核心市场覆盖中国及全球多个国家地区，已有多款肿瘤治疗药物上市，后期临床管线储备丰富。
APAM vs HCM — 直观对比
营收规模更大
APAM
是对方的1.2倍
$270.8M
营收增速更快
APAM
高出29.5%
-16.5%
净利率更高
APAM
高出34.5%
0.7%
自由现金流更多
APAM
多$168.3M
$3.4M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $270.8M |
| 净利润 | $118.1M | $2.0M |
| 毛利率 | — | 37.7% |
| 营业利润率 | 39.2% | -13.2% |
| 净利率 | 35.2% | 0.7% |
| 营收同比 | 12.9% | -16.5% |
| 净利润同比 | 34.9% | -83.6% |
| 每股收益（稀释后） | $1.36 | $0.00 |
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APAMHCM
| Q4 25 | $335.5M | $270.8M | ||
| Q3 25 | $301.3M | — | ||
| Q2 25 | $282.7M | $277.7M | ||
| Q1 25 | $277.1M | $324.5M | ||
| Q4 24 | $297.1M | — | ||
| Q3 24 | $279.6M | — | ||
| Q2 24 | $270.8M | $305.7M | ||
| Q1 24 | $264.4M | — |
净利润APAMHCM
| Q4 25 | $118.1M | $2.0M | ||
| Q3 25 | $66.8M | — | ||
| Q2 25 | $67.6M | $455.0M | ||
| Q1 25 | $61.1M | $11.9M | ||
| Q4 24 | $87.5M | — | ||
| Q3 24 | $73.0M | — | ||
| Q2 24 | $57.6M | $25.8M | ||
| Q1 24 | $59.5M | — |
毛利率APAMHCM
| Q4 25 | — | 37.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 41.1% | ||
| Q1 24 | — | — |
营业利润率APAMHCM
| Q4 25 | 39.2% | -13.2% | ||
| Q3 25 | 33.8% | — | ||
| Q2 25 | 28.2% | -1.3% | ||
| Q1 25 | 31.2% | -5.0% | ||
| Q4 24 | 36.7% | — | ||
| Q3 24 | 33.3% | — | ||
| Q2 24 | 32.0% | -9.0% | ||
| Q1 24 | 29.4% | — |
净利率APAMHCM
| Q4 25 | 35.2% | 0.7% | ||
| Q3 25 | 22.2% | — | ||
| Q2 25 | 23.9% | 163.8% | ||
| Q1 25 | 22.1% | 3.7% | ||
| Q4 24 | 29.5% | — | ||
| Q3 24 | 26.1% | — | ||
| Q2 24 | 21.3% | 8.4% | ||
| Q1 24 | 22.5% | — |
每股收益（稀释后）APAMHCM
| Q4 25 | $1.36 | $0.00 | ||
| Q3 25 | $0.93 | — | ||
| Q2 25 | $0.94 | $0.52 | ||
| Q1 25 | $0.82 | $0.01 | ||
| Q4 24 | $0.99 | — | ||
| Q3 24 | $1.03 | — | ||
| Q2 24 | $0.80 | $0.03 | ||
| Q1 24 | $0.84 | — |
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 | — | $1.4B |
| 总债务越低越好 | $190.0M | $93.2M |
| 股东权益账面价值 | $438.8M | $1.2B |
| 总资产 | $1.6B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.43× | 0.08× |
8季度趋势，按日历期对齐
现金及短期投资APAMHCM
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $836.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $802.5M | ||
| Q1 24 | — | — |
总债务APAMHCM
| Q4 25 | $190.0M | $93.2M | ||
| Q3 25 | $190.0M | — | ||
| Q2 25 | $200.0M | $93.4M | ||
| Q1 25 | $200.0M | $82.8M | ||
| Q4 24 | $200.0M | — | ||
| Q3 24 | $200.0M | — | ||
| Q2 24 | $200.0M | $82.1M | ||
| Q1 24 | $200.0M | — |
股东权益APAMHCM
| Q4 25 | $438.8M | $1.2B | ||
| Q3 25 | $402.1M | — | ||
| Q2 25 | $381.8M | $1.2B | ||
| Q1 25 | $356.5M | $759.9M | ||
| Q4 24 | $388.9M | — | ||
| Q3 24 | $372.1M | — | ||
| Q2 24 | $341.2M | $740.1M | ||
| Q1 24 | $320.3M | — |
总资产APAMHCM
| Q4 25 | $1.6B | $1.8B | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.4B | $1.8B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.5B | $1.3B | ||
| Q1 24 | $1.5B | — |
负债/权益比APAMHCM
| Q4 25 | 0.43× | 0.08× | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.52× | 0.08× | ||
| Q1 25 | 0.56× | 0.11× | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.59× | 0.11× | ||
| Q1 24 | 0.62× | — |
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 | $172.0M | $8.2M |
| 自由现金流经营现金流 - 资本支出 | $171.6M | $3.4M |
| 自由现金流率自由现金流/营收 | 51.2% | 1.2% |
| 资本支出强度资本支出/营收 | 0.1% | 1.8% |
| 现金转化率经营现金流/净利润 | 1.46× | 4.21× |
| 过去12个月自由现金流最近4个季度 | $420.6M | $-96.2M |
8季度趋势，按日历期对齐
经营现金流APAMHCM
| Q4 25 | $172.0M | $8.2M | ||
| Q3 25 | $40.4M | — | ||
| Q2 25 | $50.9M | $-72.9M | ||
| Q1 25 | $157.9M | $40.3M | ||
| Q4 24 | $372.8M | — | ||
| Q3 24 | $112.8M | — | ||
| Q2 24 | $75.9M | $-39.8M | ||
| Q1 24 | $147.0M | — |
自由现金流APAMHCM
| Q4 25 | $171.6M | $3.4M | ||
| Q3 25 | $40.4M | — | ||
| Q2 25 | $50.9M | $-82.2M | ||
| Q1 25 | $157.7M | $32.5M | ||
| Q4 24 | $371.3M | — | ||
| Q3 24 | $112.4M | — | ||
| Q2 24 | $75.2M | $-49.9M | ||
| Q1 24 | $146.9M | — |
自由现金流率APAMHCM
| Q4 25 | 51.2% | 1.2% | ||
| Q3 25 | 13.4% | — | ||
| Q2 25 | 18.0% | -29.6% | ||
| Q1 25 | 56.9% | 10.0% | ||
| Q4 24 | 125.0% | — | ||
| Q3 24 | 40.2% | — | ||
| Q2 24 | 27.8% | -16.3% | ||
| Q1 24 | 55.6% | — |
资本支出强度APAMHCM
| Q4 25 | 0.1% | 1.8% | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | 3.3% | ||
| Q1 25 | 0.1% | 2.4% | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.2% | 3.3% | ||
| Q1 24 | 0.0% | — |
现金转化率APAMHCM
| Q4 25 | 1.46× | 4.21× | ||
| Q3 25 | 0.60× | — | ||
| Q2 25 | 0.75× | -0.16× | ||
| Q1 25 | 2.58× | 3.38× | ||
| Q4 24 | 4.26× | — | ||
| Q3 24 | 1.54× | — | ||
| Q2 24 | 1.32× | -1.54× | ||
| Q1 24 | 2.47× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
