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Arcutis Biotherapeutics, Inc.（ARQT）与MANNKIND CORP（MNKD）财务数据对比。点击上方公司名可切换其他公司
Arcutis Biotherapeutics, Inc.的季度营收约是MANNKIND CORP的1.2倍（$129.5M vs $112.0M），Arcutis Biotherapeutics, Inc.净利率更高（13.4% vs -14.2%，领先27.7%），Arcutis Biotherapeutics, Inc.同比增速更快（81.5% vs 45.8%），过去两年Arcutis Biotherapeutics, Inc.的营收复合增速更高（61.6% vs 30.0%）
Arcutis Biotherapeutics是一家临床阶段生物制药企业，专注于开发和商业化免疫介导皮肤病领域的创新处方疗法，产品管线覆盖银屑病、特应性皮炎、斑秃等适应症，主要服务美国市场的患者及医疗服务提供者，填补皮肤科诊疗领域的未满足需求。
曼凯德公司是一家生物制药企业，成立于1991年2月，总部位于美国康涅狄格州丹伯里，专注于糖尿病、肺动脉高压等疾病治疗药物的研发、生产及商业化推广，致力于为相关患者提供创新的治疗方案。
ARQT vs MNKD — 直观对比
营收规模更大
ARQT
是对方的1.2倍
$112.0M
营收增速更快
ARQT
高出35.7%
45.8%
净利率更高
ARQT
高出27.7%
-14.2%
两年增速更快
ARQT
近两年复合增速
30.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $129.5M | $112.0M |
| 净利润 | $17.4M | $-15.9M |
| 毛利率 | 91.0% | 87.6% |
| 营业利润率 | 14.2% | -6.9% |
| 净利率 | 13.4% | -14.2% |
| 营收同比 | 81.5% | 45.8% |
| 净利润同比 | 261.2% | -314.9% |
| 每股收益（稀释后） | $0.14 | $-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ARQTMNKD
| Q4 25 | $129.5M | $112.0M | ||
| Q3 25 | $99.2M | $82.1M | ||
| Q2 25 | $81.5M | $76.5M | ||
| Q1 25 | $65.8M | $78.4M | ||
| Q4 24 | $71.4M | $76.8M | ||
| Q3 24 | $44.8M | $70.1M | ||
| Q2 24 | $30.9M | $72.4M | ||
| Q1 24 | $49.6M | $66.3M |
净利润ARQTMNKD
| Q4 25 | $17.4M | $-15.9M | ||
| Q3 25 | $7.4M | $8.0M | ||
| Q2 25 | $-15.9M | $668.0K | ||
| Q1 25 | $-25.1M | $13.2M | ||
| Q4 24 | $-10.8M | $7.4M | ||
| Q3 24 | $-41.5M | $11.6M | ||
| Q2 24 | $-52.3M | $-2.0M | ||
| Q1 24 | $-35.4M | $10.6M |
毛利率ARQTMNKD
| Q4 25 | 91.0% | 87.6% | ||
| Q3 25 | 91.2% | 94.5% | ||
| Q2 25 | 90.8% | 94.0% | ||
| Q1 25 | 86.6% | 95.2% | ||
| Q4 24 | 90.3% | 93.7% | ||
| Q3 24 | 87.7% | 95.4% | ||
| Q2 24 | 88.8% | 92.3% | ||
| Q1 24 | 93.4% | 94.2% |
营业利润率ARQTMNKD
| Q4 25 | 14.2% | -6.9% | ||
| Q3 25 | 8.6% | 23.0% | ||
| Q2 25 | -17.9% | 6.9% | ||
| Q1 25 | -37.3% | 28.5% | ||
| Q4 24 | -10.7% | 34.5% | ||
| Q3 24 | -87.3% | 18.2% | ||
| Q2 24 | -162.3% | 22.9% | ||
| Q1 24 | -63.8% | 25.2% |
净利率ARQTMNKD
| Q4 25 | 13.4% | -14.2% | ||
| Q3 25 | 7.5% | 9.7% | ||
| Q2 25 | -19.5% | 0.9% | ||
| Q1 25 | -38.1% | 16.8% | ||
| Q4 24 | -15.1% | 9.7% | ||
| Q3 24 | -92.8% | 16.5% | ||
| Q2 24 | -169.6% | -2.8% | ||
| Q1 24 | -71.4% | 16.0% |
每股收益（稀释后）ARQTMNKD
| Q4 25 | $0.14 | $-0.05 | ||
| Q3 25 | $0.06 | $0.03 | ||
| Q2 25 | $-0.13 | $0.00 | ||
| Q1 25 | $-0.20 | $0.04 | ||
| Q4 24 | $-0.09 | $0.03 | ||
| Q3 24 | $-0.33 | $0.04 | ||
| Q2 24 | $-0.42 | $-0.01 | ||
| Q1 24 | $-0.32 | $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 | $42.9M | $171.3M |
| 总债务越低越好 | $109.0M | $354.6M |
| 股东权益账面价值 | $189.5M | $-51.0M |
| 总资产 | $433.0M | $792.2M |
| 负债/权益比越低杠杆越低 | 0.58× | — |
8季度趋势，按日历期对齐
现金及短期投资ARQTMNKD
| Q4 25 | $42.9M | $171.3M | ||
| Q3 25 | $47.1M | $260.0M | ||
| Q2 25 | $72.7M | $179.0M | ||
| Q1 25 | $53.1M | $181.5M | ||
| Q4 24 | $71.3M | $197.3M | ||
| Q3 24 | $134.9M | $251.6M | ||
| Q2 24 | $84.3M | $247.8M | ||
| Q1 24 | $190.1M | $300.7M |
总债务ARQTMNKD
| Q4 25 | $109.0M | $354.6M | ||
| Q3 25 | $108.5M | $109.7M | ||
| Q2 25 | $108.0M | $36.2M | ||
| Q1 25 | $107.6M | $36.1M | ||
| Q4 24 | $107.2M | $36.1M | ||
| Q3 24 | $204.6M | $227.9M | ||
| Q2 24 | $203.8M | $227.6M | ||
| Q1 24 | $202.8M | $264.1M |
股东权益ARQTMNKD
| Q4 25 | $189.5M | $-51.0M | ||
| Q3 25 | $158.1M | $-44.6M | ||
| Q2 25 | $139.0M | $-55.0M | ||
| Q1 25 | $142.7M | $-58.6M | ||
| Q4 24 | $157.5M | $-78.8M | ||
| Q3 24 | $156.6M | $-209.9M | ||
| Q2 24 | $186.4M | $-225.8M | ||
| Q1 24 | $224.9M | $-230.0M |
总资产ARQTMNKD
| Q4 25 | $433.0M | $792.2M | ||
| Q3 25 | $371.0M | $494.6M | ||
| Q2 25 | $352.4M | $411.7M | ||
| Q1 25 | $344.1M | $410.1M | ||
| Q4 24 | $348.9M | $393.8M | ||
| Q3 24 | $437.4M | $464.2M | ||
| Q2 24 | $444.8M | $443.8M | ||
| Q1 24 | $478.5M | $480.9M |
负债/权益比ARQTMNKD
| Q4 25 | 0.58× | — | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.78× | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | 0.68× | — | ||
| Q3 24 | 1.31× | — | ||
| Q2 24 | 1.09× | — | ||
| Q1 24 | 0.90× | — |
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 | $26.2M | $-8.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-10.0M |
| 自由现金流率自由现金流/营收 | — | -8.9% |
| 资本支出强度资本支出/营收 | 0.0% | 1.8% |
| 现金转化率经营现金流/净利润 | 1.51× | — |
| 过去12个月自由现金流最近4个季度 | — | $13.7M |
8季度趋势，按日历期对齐
经营现金流ARQTMNKD
| Q4 25 | $26.2M | $-8.0M | ||
| Q3 25 | $-1.8M | $23.6M | ||
| Q2 25 | $324.0K | $8.9M | ||
| Q1 25 | $-30.4M | $-6.4M | ||
| Q4 24 | $-748.0K | $22.6M | ||
| Q3 24 | $-34.7M | $9.3M | ||
| Q2 24 | $-45.1M | $3.8M | ||
| Q1 24 | $-31.6M | $6.7M |
自由现金流ARQTMNKD
| Q4 25 | — | $-10.0M | ||
| Q3 25 | — | $22.5M | ||
| Q2 25 | $246.0K | $7.8M | ||
| Q1 25 | $-31.0M | $-6.7M | ||
| Q4 24 | — | $19.7M | ||
| Q3 24 | $-34.8M | $7.9M | ||
| Q2 24 | — | $861.0K | ||
| Q1 24 | — | $4.3M |
自由现金流率ARQTMNKD
| Q4 25 | — | -8.9% | ||
| Q3 25 | — | 27.4% | ||
| Q2 25 | 0.3% | 10.2% | ||
| Q1 25 | -47.1% | -8.6% | ||
| Q4 24 | — | 25.7% | ||
| Q3 24 | -77.8% | 11.3% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 6.5% |
资本支出强度ARQTMNKD
| Q4 25 | 0.0% | 1.8% | ||
| Q3 25 | 0.0% | 1.4% | ||
| Q2 25 | 0.1% | 1.5% | ||
| Q1 25 | 0.9% | 0.4% | ||
| Q4 24 | 0.0% | 3.8% | ||
| Q3 24 | 0.3% | 2.0% | ||
| Q2 24 | 0.0% | 4.1% | ||
| Q1 24 | 0.0% | 3.6% |
现金转化率ARQTMNKD
| Q4 25 | 1.51× | — | ||
| Q3 25 | -0.24× | 2.96× | ||
| Q2 25 | — | 13.40× | ||
| Q1 25 | — | -0.48× | ||
| Q4 24 | — | 3.05× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.63× |
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
ARQT
暂无分部数据
MNKD
| Products | $50.4M | 45% |
| Royalty | $33.6M | 30% |
| Afrezza | $22.9M | 20% |
| V Go | $4.3M | 4% |
