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Alphatec Holdings, Inc.（ATEC）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
Alphatec Holdings, Inc.的季度营收约是Rocket Lab Corp的1.2倍（$212.9M vs $179.7M），Alphatec Holdings, Inc.净利率更高（-10.2% vs -29.5%，领先19.3%），Rocket Lab Corp同比增速更快（35.7% vs 20.4%），Alphatec Holdings, Inc.自由现金流更多（$7.7M vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs 24.0%）
Alphatec Holdings是一家全球医疗科技企业，专注于研发、生产及销售脊柱外科手术相关的植入物、手术器械与数字化手术平台，服务骨科及神经外科医疗从业者，核心市场覆盖北美、欧洲及亚太主要区域。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
ATEC vs RKLB — 直观对比
营收规模更大
ATEC
是对方的1.2倍
$179.7M
营收增速更快
RKLB
高出15.3%
20.4%
净利率更高
ATEC
高出19.3%
-29.5%
自由现金流更多
ATEC
多$121.9M
$-114.2M
两年增速更快
RKLB
近两年复合增速
24.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $179.7M |
| 净利润 | $-21.7M | $-52.9M |
| 毛利率 | 70.2% | 38.0% |
| 营业利润率 | -4.1% | -28.4% |
| 净利率 | -10.2% | -29.5% |
| 营收同比 | 20.4% | 35.7% |
| 净利润同比 | 34.8% | -1.1% |
| 每股收益（稀释后） | $-0.15 | $-0.09 |
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ATECRKLB
| Q4 25 | $212.9M | $179.7M | ||
| Q3 25 | $196.5M | $155.1M | ||
| Q2 25 | $185.5M | $144.5M | ||
| Q1 25 | $169.2M | $122.6M | ||
| Q4 24 | $176.8M | $132.4M | ||
| Q3 24 | $150.7M | $104.8M | ||
| Q2 24 | $145.6M | $106.3M | ||
| Q1 24 | $138.5M | $92.8M |
净利润ATECRKLB
| Q4 25 | $-21.7M | $-52.9M | ||
| Q3 25 | $-28.6M | $-18.3M | ||
| Q2 25 | $-41.1M | $-66.4M | ||
| Q1 25 | $-51.9M | $-60.6M | ||
| Q4 24 | $-33.3M | $-52.3M | ||
| Q3 24 | $-39.6M | $-51.9M | ||
| Q2 24 | $-40.7M | $-41.6M | ||
| Q1 24 | $-48.5M | $-44.3M |
毛利率ATECRKLB
| Q4 25 | 70.2% | 38.0% | ||
| Q3 25 | 69.9% | 37.0% | ||
| Q2 25 | 69.6% | 32.1% | ||
| Q1 25 | 68.6% | 28.8% | ||
| Q4 24 | 68.8% | 27.8% | ||
| Q3 24 | 68.2% | 26.7% | ||
| Q2 24 | 70.5% | 25.6% | ||
| Q1 24 | 70.3% | 26.1% |
营业利润率ATECRKLB
| Q4 25 | -4.1% | -28.4% | ||
| Q3 25 | -8.1% | -38.0% | ||
| Q2 25 | -7.1% | -41.3% | ||
| Q1 25 | -26.2% | -48.3% | ||
| Q4 24 | -13.5% | -38.9% | ||
| Q3 24 | -22.4% | -49.5% | ||
| Q2 24 | -24.3% | -40.7% | ||
| Q1 24 | -31.3% | -46.4% |
净利率ATECRKLB
| Q4 25 | -10.2% | -29.5% | ||
| Q3 25 | -14.5% | -11.8% | ||
| Q2 25 | -22.2% | -46.0% | ||
| Q1 25 | -30.7% | -49.5% | ||
| Q4 24 | -18.9% | -39.5% | ||
| Q3 24 | -26.3% | -49.6% | ||
| Q2 24 | -27.9% | -39.2% | ||
| Q1 24 | -35.0% | -47.7% |
每股收益（稀释后）ATECRKLB
| Q4 25 | $-0.15 | $-0.09 | ||
| Q3 25 | $-0.19 | $-0.03 | ||
| Q2 25 | $-0.27 | $-0.13 | ||
| Q1 25 | $-0.35 | $-0.12 | ||
| Q4 24 | $-0.22 | $-0.11 | ||
| Q3 24 | $-0.28 | $-0.10 | ||
| Q2 24 | $-0.29 | $-0.08 | ||
| Q1 24 | $-0.34 | $-0.09 |
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 | $160.8M | $1.0B |
| 总债务越低越好 | $565.9M | $152.4M |
| 股东权益账面价值 | $12.4M | $1.7B |
| 总资产 | $791.2M | $2.3B |
| 负债/权益比越低杠杆越低 | 45.54× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资ATECRKLB
| Q4 25 | $160.8M | $1.0B | ||
| Q3 25 | $155.7M | $976.7M | ||
| Q2 25 | $157.1M | $688.1M | ||
| Q1 25 | $153.2M | $428.4M | ||
| Q4 24 | $138.8M | $419.0M | ||
| Q3 24 | $81.0M | $442.4M | ||
| Q2 24 | $99.8M | $496.8M | ||
| Q1 24 | $144.1M | $492.5M |
总债务ATECRKLB
| Q4 25 | $565.9M | $152.4M | ||
| Q3 25 | $559.7M | $347.0M | ||
| Q2 25 | $553.9M | $346.5M | ||
| Q1 25 | $548.4M | $345.9M | ||
| Q4 24 | $576.2M | $345.4M | ||
| Q3 24 | $527.7M | $61.2M | ||
| Q2 24 | $519.2M | $64.2M | ||
| Q1 24 | $514.4M | $66.8M |
股东权益ATECRKLB
| Q4 25 | $12.4M | $1.7B | ||
| Q3 25 | $11.5M | $1.3B | ||
| Q2 25 | $23.8M | $688.5M | ||
| Q1 25 | $-85.9M | $431.3M | ||
| Q4 24 | $-14.2M | $382.5M | ||
| Q3 24 | $-1.4M | $419.8M | ||
| Q2 24 | $17.1M | $455.2M | ||
| Q1 24 | $37.6M | $478.9M |
总资产ATECRKLB
| Q4 25 | $791.2M | $2.3B | ||
| Q3 25 | $787.2M | $2.2B | ||
| Q2 25 | $790.3M | $1.6B | ||
| Q1 25 | $785.5M | $1.3B | ||
| Q4 24 | $775.7M | $1.2B | ||
| Q3 24 | $745.9M | $1.2B | ||
| Q2 24 | $768.6M | $1.2B | ||
| Q1 24 | $774.6M | $1.2B |
负债/权益比ATECRKLB
| Q4 25 | 45.54× | 0.09× | ||
| Q3 25 | 48.64× | 0.27× | ||
| Q2 25 | 23.30× | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | 30.34× | 0.14× | ||
| Q1 24 | 13.70× | 0.14× |
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 | $20.7M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $7.7M | $-114.2M |
| 自由现金流率自由现金流/营收 | 3.6% | -63.6% |
| 资本支出强度资本支出/营收 | 6.1% | 27.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $2.8M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流ATECRKLB
| Q4 25 | $20.7M | $-64.5M | ||
| Q3 25 | $14.0M | $-23.5M | ||
| Q2 25 | $15.5M | $-23.2M | ||
| Q1 25 | $-5.0M | $-54.2M | ||
| Q4 24 | $10.5M | $-2.4M | ||
| Q3 24 | $-5.3M | $-30.9M | ||
| Q2 24 | $-11.4M | $-13.0M | ||
| Q1 24 | $-38.4M | $-2.6M |
自由现金流ATECRKLB
| Q4 25 | $7.7M | $-114.2M | ||
| Q3 25 | $4.8M | $-69.4M | ||
| Q2 25 | $5.2M | $-55.3M | ||
| Q1 25 | $-15.0M | $-82.9M | ||
| Q4 24 | $8.5M | $-23.9M | ||
| Q3 24 | $-21.2M | $-41.9M | ||
| Q2 24 | $-45.5M | $-28.3M | ||
| Q1 24 | $-69.8M | $-21.8M |
自由现金流率ATECRKLB
| Q4 25 | 3.6% | -63.6% | ||
| Q3 25 | 2.4% | -44.8% | ||
| Q2 25 | 2.8% | -38.3% | ||
| Q1 25 | -8.9% | -67.6% | ||
| Q4 24 | 4.8% | -18.1% | ||
| Q3 24 | -14.1% | -40.0% | ||
| Q2 24 | -31.3% | -26.7% | ||
| Q1 24 | -50.4% | -23.5% |
资本支出强度ATECRKLB
| Q4 25 | 6.1% | 27.6% | ||
| Q3 25 | 4.7% | 29.6% | ||
| Q2 25 | 5.6% | 22.2% | ||
| Q1 25 | 5.9% | 23.4% | ||
| Q4 24 | 1.1% | 16.3% | ||
| Q3 24 | 10.5% | 10.5% | ||
| Q2 24 | 23.4% | 14.4% | ||
| Q1 24 | 22.6% | 20.7% |
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
ATEC
暂无分部数据
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
