vs
Arena Group Holdings, Inc.（AREN）与STEM, INC.（STEM）财务数据对比。点击上方公司名可切换其他公司
STEM, INC.的季度营收约是Arena Group Holdings, Inc.的1.7倍（$47.1M vs $28.2M），Arena Group Holdings, Inc.净利率更高（18.9% vs -33.9%，领先52.8%），STEM, INC.同比增速更快（-15.6% vs -22.0%），过去两年STEM, INC.的营收复合增速更高（36.1% vs -1.2%）
Arena Group Holdings旗下的Arena Racing Company是英国的赛马休闲企业，2012年由Arena Leisure与Northern Racing合并成立。该公司在英国拥有并运营16家赛马场，占英国赛马赛事总量的39%，同时还在多家赛马场配套经营酒店，在三处场地运营高尔夫球场。
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。
AREN vs STEM — 直观对比
营收规模更大
STEM
是对方的1.7倍
$28.2M
营收增速更快
STEM
高出6.5%
-22.0%
净利率更高
AREN
高出52.8%
-33.9%
两年增速更快
STEM
近两年复合增速
-1.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $28.2M | $47.1M |
| 净利润 | $5.3M | $-16.0M |
| 毛利率 | 43.6% | 48.9% |
| 营业利润率 | 26.6% | -17.7% |
| 净利率 | 18.9% | -33.9% |
| 营收同比 | -22.0% | -15.6% |
| 净利润同比 | -22.5% | 68.8% |
| 每股收益（稀释后） | $0.12 | $-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ARENSTEM
| Q4 25 | $28.2M | $47.1M | ||
| Q3 25 | $29.8M | $38.2M | ||
| Q2 25 | $45.0M | $38.4M | ||
| Q1 25 | $31.8M | $32.5M | ||
| Q4 24 | $36.2M | $55.8M | ||
| Q3 24 | $33.6M | $29.3M | ||
| Q2 24 | $27.2M | $34.0M | ||
| Q1 24 | $28.9M | $25.5M |
净利润ARENSTEM
| Q4 25 | $5.3M | $-16.0M | ||
| Q3 25 | $6.9M | $-23.8M | ||
| Q2 25 | $108.6M | $202.5M | ||
| Q1 25 | $4.0M | $-25.0M | ||
| Q4 24 | $6.9M | $-51.1M | ||
| Q3 24 | $4.0M | $-148.3M | ||
| Q2 24 | $-8.2M | $-582.3M | ||
| Q1 24 | $-103.4M | $-72.3M |
毛利率ARENSTEM
| Q4 25 | 43.6% | 48.9% | ||
| Q3 25 | 50.2% | 35.5% | ||
| Q2 25 | 56.5% | 33.4% | ||
| Q1 25 | 49.3% | 32.4% | ||
| Q4 24 | 52.6% | -4.4% | ||
| Q3 24 | 50.6% | 21.2% | ||
| Q2 24 | 39.4% | 27.6% | ||
| Q1 24 | 30.9% | -95.0% |
营业利润率ARENSTEM
| Q4 25 | 26.6% | -17.7% | ||
| Q3 25 | 31.9% | -33.6% | ||
| Q2 25 | 36.5% | -34.8% | ||
| Q1 25 | 23.1% | -65.0% | ||
| Q4 24 | 28.6% | -84.4% | ||
| Q3 24 | 24.0% | -493.2% | ||
| Q2 24 | -9.5% | -1705.5% | ||
| Q1 24 | -27.5% | -267.0% |
净利率ARENSTEM
| Q4 25 | 18.9% | -33.9% | ||
| Q3 25 | 23.1% | -62.2% | ||
| Q2 25 | 241.4% | 527.8% | ||
| Q1 25 | 12.6% | -76.9% | ||
| Q4 24 | 19.0% | -91.6% | ||
| Q3 24 | 11.8% | -506.3% | ||
| Q2 24 | -30.1% | -1712.6% | ||
| Q1 24 | -357.1% | -283.9% |
每股收益（稀释后）ARENSTEM
| Q4 25 | $0.12 | $-4.40 | ||
| Q3 25 | $0.14 | $-2.84 | ||
| Q2 25 | $2.28 | $-1.79 | ||
| Q1 25 | $0.08 | $-0.15 | ||
| Q4 24 | $1.23 | $-15.29 | ||
| Q3 24 | $0.11 | $-18.24 | ||
| Q2 24 | $-0.28 | $-71.81 | ||
| Q1 24 | $-3.91 | $-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 | $10.3M | $48.9M |
| 总债务越低越好 | $97.6M | — |
| 股东权益账面价值 | $-4.8M | $-249.4M |
| 总资产 | $112.6M | $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ARENSTEM
| Q4 25 | $10.3M | $48.9M | ||
| Q3 25 | $12.5M | $43.1M | ||
| Q2 25 | $6.8M | $40.8M | ||
| Q1 25 | $2.9M | $58.6M | ||
| Q4 24 | $4.4M | $56.3M | ||
| Q3 24 | $5.8M | $75.4M | ||
| Q2 24 | $6.1M | $89.6M | ||
| Q1 24 | $4.0M | $112.8M |
总债务ARENSTEM
| Q4 25 | $97.6M | — | ||
| Q3 25 | $110.5M | — | ||
| Q2 25 | $110.5M | — | ||
| Q1 25 | $110.5M | — | ||
| Q4 24 | $110.4M | — | ||
| Q3 24 | $102.4M | — | ||
| Q2 24 | $102.4M | — | ||
| Q1 24 | $102.3M | — |
股东权益ARENSTEM
| Q4 25 | $-4.8M | $-249.4M | ||
| Q3 25 | $-10.4M | $-235.7M | ||
| Q2 25 | $-17.3M | $-214.1M | ||
| Q1 25 | $-126.1M | $-417.5M | ||
| Q4 24 | $-130.3M | $-398.4M | ||
| Q3 24 | $-137.5M | $-344.1M | ||
| Q2 24 | $-157.2M | $-203.2M | ||
| Q1 24 | $-149.6M | $371.6M |
总资产ARENSTEM
| Q4 25 | $112.6M | $308.9M | ||
| Q3 25 | $121.4M | $362.6M | ||
| Q2 25 | $127.8M | $379.2M | ||
| Q1 25 | $114.6M | $405.1M | ||
| Q4 24 | $116.4M | $437.4M | ||
| Q3 24 | $114.2M | $537.8M | ||
| Q2 24 | $113.4M | $691.5M | ||
| Q1 24 | $120.3M | $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 | $13.1M | $8.2M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 2.46× | — |
| 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ARENSTEM
| Q4 25 | $13.1M | $8.2M | ||
| Q3 25 | $12.2M | $11.4M | ||
| Q2 25 | $10.3M | $-21.3M | ||
| Q1 25 | $3.7M | $8.5M | ||
| Q4 24 | $-8.6M | $-14.7M | ||
| Q3 24 | $-2.3M | $-9.4M | ||
| Q2 24 | $-3.2M | $-11.9M | ||
| Q1 24 | $-2.0M | $-621.0K |
自由现金流ARENSTEM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-2.4M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率ARENSTEM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -7.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度ARENSTEM
| Q4 25 | — | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率ARENSTEM
| Q4 25 | 2.46× | — | ||
| Q3 25 | 1.77× | — | ||
| Q2 25 | 0.09× | -0.11× | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | -1.25× | — | ||
| Q3 24 | -0.59× | — | ||
| 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
