vs
Apollo Commercial Real Estate Finance, Inc.（ARI）与再鼎医药（ZLAB）财务数据对比。点击上方公司名可切换其他公司
再鼎医药的季度营收约是Apollo Commercial Real Estate Finance, Inc.的1.7倍（$127.1M vs $73.3M），再鼎医药同比增速更快（17.1% vs 4.0%），过去两年再鼎医药的营收复合增速更高（20.8% vs -4.6%）
阿波罗商业房地产金融公司是一家房地产投资信托企业，主要发起、收购并管理商业地产债务资产，包括优先抵押贷款、夹层贷款及商业抵押贷款支持证券，主营美国市场，致力于为投资者创造稳定收益。
再鼎医药是一家创新生物制药企业，专注于肿瘤、自身免疫性疾病、感染性疾病等领域创新疗法的研发、生产与商业化，核心市场覆盖大中华区，与全球多家头部生物科技企业合作，为存在未被满足医疗需求的患者提供治疗方案。
ARI vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.7倍
$73.3M
营收增速更快
ZLAB
高出13.1%
4.0%
两年增速更快
ZLAB
近两年复合增速
-4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $73.3M | $127.1M |
| 净利润 | $29.2M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | 39.7% | -54.6% |
| 净利率 | 39.9% | — |
| 营收同比 | 4.0% | 17.1% |
| 净利润同比 | -28.2% | — |
| 每股收益（稀释后） | $0.19 | $-0.05 |
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ARIZLAB
| Q4 25 | $73.3M | $127.1M | ||
| Q3 25 | $61.6M | $115.4M | ||
| Q2 25 | $70.9M | $109.1M | ||
| Q1 25 | $65.8M | $105.7M | ||
| Q4 24 | $70.5M | $108.5M | ||
| Q3 24 | $71.6M | $101.8M | ||
| Q2 24 | $81.1M | $100.1M | ||
| Q1 24 | $80.5M | $87.1M |
净利润ARIZLAB
| Q4 25 | $29.2M | — | ||
| Q3 25 | $50.8M | $-36.0M | ||
| Q2 25 | $20.7M | $-40.7M | ||
| Q1 25 | $26.0M | $-48.4M | ||
| Q4 24 | $40.7M | — | ||
| Q3 24 | $-91.5M | $-41.7M | ||
| Q2 24 | $35.8M | $-80.3M | ||
| Q1 24 | $-104.5M | $-53.5M |
毛利率ARIZLAB
| Q4 25 | — | 51.0% | ||
| Q3 25 | — | 59.5% | ||
| Q2 25 | — | 60.6% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 64.1% | ||
| Q2 24 | — | 64.9% | ||
| Q1 24 | — | 61.4% |
营业利润率ARIZLAB
| Q4 25 | 39.7% | -54.6% | ||
| Q3 25 | 82.8% | -42.3% | ||
| Q2 25 | 29.4% | -50.3% | ||
| Q1 25 | 39.7% | -53.3% | ||
| Q4 24 | 57.9% | -62.6% | ||
| Q3 24 | -127.8% | -66.6% | ||
| Q2 24 | 44.2% | -76.0% | ||
| Q1 24 | -129.6% | -80.7% |
净利率ARIZLAB
| Q4 25 | 39.9% | — | ||
| Q3 25 | 82.4% | -31.2% | ||
| Q2 25 | 29.3% | -37.3% | ||
| Q1 25 | 39.5% | -45.8% | ||
| Q4 24 | 57.7% | — | ||
| Q3 24 | -127.9% | -40.9% | ||
| Q2 24 | 44.1% | -80.2% | ||
| Q1 24 | -129.8% | -61.4% |
每股收益（稀释后）ARIZLAB
| Q4 25 | $0.19 | $-0.05 | ||
| Q3 25 | $0.34 | $-0.03 | ||
| Q2 25 | $0.12 | $-0.04 | ||
| Q1 25 | $0.16 | $-0.04 | ||
| Q4 24 | $0.25 | $-0.09 | ||
| Q3 24 | $-0.69 | $-0.04 | ||
| Q2 24 | $0.23 | $-0.08 | ||
| Q1 24 | $-0.76 | $-0.05 |
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 | $139.8M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.9B | $715.5M |
| 总资产 | $9.9B | $1.2B |
| 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ARIZLAB
| Q4 25 | $139.8M | $689.6M | ||
| Q3 25 | $245.9M | $717.2M | ||
| Q2 25 | $177.6M | $732.2M | ||
| Q1 25 | $166.4M | $757.3M | ||
| Q4 24 | $317.4M | $779.7M | ||
| Q3 24 | $194.3M | $616.1M | ||
| Q2 24 | $174.7M | $630.0M | ||
| Q1 24 | $161.2M | $650.8M |
股东权益ARIZLAB
| Q4 25 | $1.9B | $715.5M | ||
| Q3 25 | $1.9B | $759.9M | ||
| Q2 25 | $1.8B | $791.7M | ||
| Q1 25 | $1.9B | $810.8M | ||
| Q4 24 | $1.9B | $840.9M | ||
| Q3 24 | $1.9B | $667.7M | ||
| Q2 24 | $2.0B | $704.2M | ||
| Q1 24 | $2.0B | $762.2M |
总资产ARIZLAB
| Q4 25 | $9.9B | $1.2B | ||
| Q3 25 | $9.5B | $1.2B | ||
| Q2 25 | $9.8B | $1.2B | ||
| Q1 25 | $8.8B | $1.2B | ||
| Q4 24 | $8.4B | $1.2B | ||
| Q3 24 | $9.1B | $985.3M | ||
| Q2 24 | $9.3B | $987.4M | ||
| Q1 24 | $9.2B | $988.4M |
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 | $142.5M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-26.7M |
| 自由现金流率自由现金流/营收 | — | -21.0% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 现金转化率经营现金流/净利润 | 4.88× | — |
| 过去12个月自由现金流最近4个季度 | — | $-158.9M |
8季度趋势，按日历期对齐
经营现金流ARIZLAB
| Q4 25 | $142.5M | $-26.0M | ||
| Q3 25 | $31.7M | $-32.0M | ||
| Q2 25 | $63.2M | $-31.0M | ||
| Q1 25 | $39.3M | $-61.7M | ||
| Q4 24 | $200.3M | $-55.8M | ||
| Q3 24 | $47.2M | $-26.8M | ||
| Q2 24 | $50.2M | $-42.2M | ||
| Q1 24 | $52.8M | $-90.1M |
自由现金流ARIZLAB
| Q4 25 | — | $-26.7M | ||
| Q3 25 | — | $-35.0M | ||
| Q2 25 | — | $-33.9M | ||
| Q1 25 | — | $-63.2M | ||
| Q4 24 | — | $-58.4M | ||
| Q3 24 | — | $-28.2M | ||
| Q2 24 | — | $-42.9M | ||
| Q1 24 | — | $-91.1M |
自由现金流率ARIZLAB
| Q4 25 | — | -21.0% | ||
| Q3 25 | — | -30.4% | ||
| Q2 25 | — | -31.1% | ||
| Q1 25 | — | -59.9% | ||
| Q4 24 | — | -53.8% | ||
| Q3 24 | — | -27.7% | ||
| Q2 24 | — | -42.9% | ||
| Q1 24 | — | -104.5% |
资本支出强度ARIZLAB
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.1% |
现金转化率ARIZLAB
| Q4 25 | 4.88× | — | ||
| Q3 25 | 0.62× | — | ||
| Q2 25 | 3.05× | — | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | 4.93× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.40× | — | ||
| 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
ARI
暂无分部数据
ZLAB
| Zejula | $56.0M | 44% |
| Other | $21.9M | 17% |
| Nuzyra | $16.0M | 13% |
| Optune | $11.9M | 9% |
| XACDURO | $10.7M | 8% |
| Qinlock | $9.7M | 8% |
| AUGTYRO | $836.0K | 1% |
