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Applied Digital Corp.（APLD）与REPLIGEN CORP（RGEN）财务数据对比。点击上方公司名可切换其他公司
REPLIGEN CORP的季度营收约是Applied Digital Corp.的1.6倍（$197.9M vs $126.6M），REPLIGEN CORP净利率更高（6.7% vs -11.4%，领先18.1%），Applied Digital Corp.同比增速更快（98.2% vs 13.6%），REPLIGEN CORP自由现金流更多（$17.6M vs $-567.9M），过去两年Applied Digital Corp.的营收复合增速更高（70.9% vs 14.4%）
BAE系统旗下的国际防务与安全技术企业，专注于提供数字化解决方案，支持客户快速开展数据驱动决策，服务覆盖执法机构、国家安全部门、政府单位、关键基础设施运营商、电信企业、军方及航天领域。
Repligen是一家全球生命科学企业，专注于创新生物工艺技术与系统的研发及商业化，助力提升生物药生产效率。公司1981年成立，总部位于美国马萨诸塞州沃尔瑟姆，于纳斯达克挂牌上市，股票代码RGEN，截至2025年全球员工超1900人，主要服务生物制药领域客户。
APLD vs RGEN — 直观对比
营收规模更大
RGEN
是对方的1.6倍
$126.6M
营收增速更快
APLD
高出84.6%
13.6%
净利率更高
RGEN
高出18.1%
-11.4%
自由现金流更多
RGEN
多$585.5M
$-567.9M
两年增速更快
APLD
近两年复合增速
14.4%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $126.6M | $197.9M |
| 净利润 | $-14.4M | $13.3M |
| 毛利率 | 20.6% | 52.5% |
| 营业利润率 | -24.5% | 9.0% |
| 净利率 | -11.4% | 6.7% |
| 营收同比 | 98.2% | 13.6% |
| 净利润同比 | 89.6% | 143.9% |
| 每股收益（稀释后） | $-0.07 | $0.24 |
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APLDRGEN
| Q4 25 | $126.6M | $197.9M | ||
| Q3 25 | $64.2M | $188.8M | ||
| Q2 25 | $-33.3M | $182.4M | ||
| Q1 25 | $52.9M | $169.2M | ||
| Q4 24 | $63.9M | $174.1M | ||
| Q3 24 | $60.7M | $154.9M | ||
| Q2 24 | $43.7M | $154.1M | ||
| Q1 24 | $43.3M | $151.3M |
净利润APLDRGEN
| Q4 25 | $-14.4M | $13.3M | ||
| Q3 25 | $-16.9M | $14.9M | ||
| Q2 25 | $-52.5M | $14.9M | ||
| Q1 25 | $-35.6M | $5.8M | ||
| Q4 24 | $-138.7M | $-30.3M | ||
| Q3 24 | $-4.2M | $-654.0K | ||
| Q2 24 | $-64.5M | $3.3M | ||
| Q1 24 | $-62.8M | $2.1M |
毛利率APLDRGEN
| Q4 25 | 20.6% | 52.5% | ||
| Q3 25 | 13.4% | 53.2% | ||
| Q2 25 | — | 50.0% | ||
| Q1 25 | 7.1% | 53.6% | ||
| Q4 24 | 18.0% | 26.1% | ||
| Q3 24 | -0.6% | 50.0% | ||
| Q2 24 | -9.1% | 49.8% | ||
| Q1 24 | -8.6% | 49.5% |
营业利润率APLDRGEN
| Q4 25 | -24.5% | 9.0% | ||
| Q3 25 | -34.7% | 8.9% | ||
| Q2 25 | — | 7.6% | ||
| Q1 25 | -35.8% | 3.9% | ||
| Q4 24 | -29.1% | -17.7% | ||
| Q3 24 | 15.6% | -5.1% | ||
| Q2 24 | -68.4% | 1.0% | ||
| Q1 24 | -128.8% | 1.3% |
净利率APLDRGEN
| Q4 25 | -11.4% | 6.7% | ||
| Q3 25 | -26.4% | 7.9% | ||
| Q2 25 | 157.8% | 8.2% | ||
| Q1 25 | -67.2% | 3.4% | ||
| Q4 24 | -217.2% | -17.4% | ||
| Q3 24 | -7.0% | -0.4% | ||
| Q2 24 | -147.5% | 2.2% | ||
| Q1 24 | -145.0% | 1.4% |
每股收益（稀释后）APLDRGEN
| Q4 25 | $-0.07 | $0.24 | ||
| Q3 25 | $-0.07 | $0.26 | ||
| Q2 25 | $-0.31 | $0.26 | ||
| Q1 25 | $-0.16 | $0.10 | ||
| Q4 24 | $-0.66 | $-0.55 | ||
| Q3 24 | $-0.03 | $-0.01 | ||
| Q2 24 | $-0.57 | $0.06 | ||
| Q1 24 | $-0.52 | $0.04 |
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 | $1.9B | $767.6M |
| 总债务越低越好 | — | $542.2M |
| 股东权益账面价值 | $1.4B | $2.1B |
| 总资产 | $5.2B | $2.9B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资APLDRGEN
| Q4 25 | $1.9B | $767.6M | ||
| Q3 25 | $73.9M | $748.7M | ||
| Q2 25 | $41.6M | $708.9M | ||
| Q1 25 | $68.7M | $697.2M | ||
| Q4 24 | $286.2M | $757.4M | ||
| Q3 24 | $58.2M | $784.0M | ||
| Q2 24 | $3.3M | $809.1M | ||
| Q1 24 | $4.4M | $780.6M |
总债务APLDRGEN
| Q4 25 | — | $542.2M | ||
| Q3 25 | — | $537.9M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $525.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APLDRGEN
| Q4 25 | $1.4B | $2.1B | ||
| Q3 25 | $1.0B | $2.1B | ||
| Q2 25 | $497.7M | $2.1B | ||
| Q1 25 | $454.6M | $2.0B | ||
| Q4 24 | $434.6M | $2.0B | ||
| Q3 24 | $241.8M | $2.0B | ||
| Q2 24 | $124.8M | $2.0B | ||
| Q1 24 | $118.5M | $2.0B |
总资产APLDRGEN
| Q4 25 | $5.2B | $2.9B | ||
| Q3 25 | $2.4B | $2.9B | ||
| Q2 25 | $1.9B | $2.9B | ||
| Q1 25 | $1.7B | $2.9B | ||
| Q4 24 | $1.5B | $2.8B | ||
| Q3 24 | $937.7M | $2.8B | ||
| Q2 24 | $762.9M | $2.9B | ||
| Q1 24 | $643.2M | $2.8B |
负债/权益比APLDRGEN
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.27× | ||
| 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 | $-15.8M | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $-567.9M | $17.6M |
| 自由现金流率自由现金流/营收 | -448.6% | 8.9% |
| 资本支出强度资本支出/营收 | 436.1% | 4.1% |
| 现金转化率经营现金流/净利润 | — | 1.93× |
| 过去12个月自由现金流最近4个季度 | $-1.3B | $93.9M |
8季度趋势，按日历期对齐
经营现金流APLDRGEN
| Q4 25 | $-15.8M | $25.7M | ||
| Q3 25 | $-82.0M | $48.1M | ||
| Q2 25 | $6.9M | $28.6M | ||
| Q1 25 | $5.9M | $15.0M | ||
| Q4 24 | $-52.3M | $39.2M | ||
| Q3 24 | $-75.9M | $49.3M | ||
| Q2 24 | $-34.1M | $42.2M | ||
| Q1 24 | $38.8M | $44.7M |
自由现金流APLDRGEN
| Q4 25 | $-567.9M | $17.6M | ||
| Q3 25 | $-331.4M | $43.4M | ||
| Q2 25 | $-191.4M | $21.5M | ||
| Q1 25 | $-251.6M | $11.4M | ||
| Q4 24 | $-223.3M | $33.6M | ||
| Q3 24 | $-130.7M | $42.3M | ||
| Q2 24 | $-88.9M | $37.4M | ||
| Q1 24 | $-2.3M | $36.4M |
自由现金流率APLDRGEN
| Q4 25 | -448.6% | 8.9% | ||
| Q3 25 | -516.1% | 23.0% | ||
| Q2 25 | 574.8% | 11.8% | ||
| Q1 25 | -475.4% | 6.8% | ||
| Q4 24 | -349.6% | 19.3% | ||
| Q3 24 | -215.3% | 27.3% | ||
| Q2 24 | -203.5% | 24.3% | ||
| Q1 24 | -5.4% | 24.0% |
资本支出强度APLDRGEN
| Q4 25 | 436.1% | 4.1% | ||
| Q3 25 | 388.4% | 2.5% | ||
| Q2 25 | -595.4% | 3.9% | ||
| Q1 25 | 486.6% | 2.1% | ||
| Q4 24 | 267.8% | 3.2% | ||
| Q3 24 | 90.3% | 4.5% | ||
| Q2 24 | 125.4% | 3.1% | ||
| Q1 24 | 95.0% | 5.5% |
现金转化率APLDRGEN
| Q4 25 | — | 1.93× | ||
| Q3 25 | — | 3.23× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 12.70× | ||
| Q1 24 | — | 21.35× |
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
APLD
| HPC Hosting Business | $85.0M | 67% |
| Data Center Hosting Business | $41.6M | 33% |
RGEN
暂无分部数据
