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BICYCLE THERAPEUTICS PLC（BCYC）与IMPINJ INC（PI）财务数据对比。点击上方公司名可切换其他公司
IMPINJ INC的季度营收约是BICYCLE THERAPEUTICS PLC的1.5倍（$74.3M vs $48.0M），IMPINJ INC净利率更高（11.2% vs -42.0%，领先53.2%），BICYCLE THERAPEUTICS PLC同比增速更快（1193.3% vs -0.0%），IMPINJ INC自由现金流更多（$2.2M vs $-19.9M），过去两年BICYCLE THERAPEUTICS PLC的营收复合增速更高（56.7% vs -14.9%）
Bicycle Therapeutics是一家临床阶段生物制药企业，专注于开发双环肽类创新疗法以解决未被满足的医疗需求，核心管线覆盖肿瘤、罕见病与免疫疾病领域，在欧美布局运营，与全球头部药企达成战略合作推进候选药物落地。
Impinj Inc.是一家美国射频识别（RFID）设备及软件提供商，成立于2000年，总部位于华盛顿州西雅图，源自加州理工学院Carver Mead与Chris Diorio的研究成果。公司主营EPC Class 1 Gen 2无源超高频RFID芯片、读写器、读写器芯片、天线，以及芯片编码、业务数据采集相关的软件应用，为各行业RFID应用提供全链路产品支持。
BCYC vs PI — 直观对比
营收规模更大
PI
是对方的1.5倍
$48.0M
营收增速更快
BCYC
高出1193.3%
-0.0%
净利率更高
PI
高出53.2%
-42.0%
自由现金流更多
PI
多$22.2M
$-19.9M
两年增速更快
BCYC
近两年复合增速
-14.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $48.0M | $74.3M |
| 净利润 | $-20.2M | $8.3M |
| 毛利率 | — | 49.1% |
| 营业利润率 | -51.5% | 30.5% |
| 净利率 | -42.0% | 11.2% |
| 营收同比 | 1193.3% | -0.0% |
| 净利润同比 | 61.1% | — |
| 每股收益（稀释后） | $-0.29 | $0.14 |
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BCYCPI
| Q1 26 | — | $74.3M | ||
| Q4 25 | $48.0M | $92.8M | ||
| Q3 25 | $11.7M | $96.1M | ||
| Q2 25 | $2.9M | $97.9M | ||
| Q1 25 | $10.0M | $74.3M | ||
| Q4 24 | $3.7M | $91.6M | ||
| Q3 24 | $2.7M | $95.2M | ||
| Q2 24 | $9.4M | $102.5M |
净利润BCYCPI
| Q1 26 | — | $8.3M | ||
| Q4 25 | $-20.2M | $-1.1M | ||
| Q3 25 | $-59.1M | $-12.8M | ||
| Q2 25 | $-79.0M | $11.6M | ||
| Q1 25 | $-60.8M | $-8.5M | ||
| Q4 24 | — | $-2.7M | ||
| Q3 24 | $-50.8M | $221.0K | ||
| Q2 24 | $-39.8M | $10.0M |
毛利率BCYCPI
| Q1 26 | — | 49.1% | ||
| Q4 25 | — | 51.8% | ||
| Q3 25 | — | 50.3% | ||
| Q2 25 | — | 57.8% | ||
| Q1 25 | — | 49.4% | ||
| Q4 24 | — | 50.5% | ||
| Q3 24 | — | 50.0% | ||
| Q2 24 | — | 56.1% |
营业利润率BCYCPI
| Q1 26 | — | 30.5% | ||
| Q4 25 | -51.5% | -2.9% | ||
| Q3 25 | -558.6% | 0.7% | ||
| Q2 25 | -2965.8% | 11.1% | ||
| Q1 25 | -703.7% | -12.9% | ||
| Q4 24 | — | -3.9% | ||
| Q3 24 | -2385.9% | -0.8% | ||
| Q2 24 | -498.3% | 8.8% |
净利率BCYCPI
| Q1 26 | — | 11.2% | ||
| Q4 25 | -42.0% | -1.2% | ||
| Q3 25 | -503.7% | -13.3% | ||
| Q2 25 | -2703.8% | 11.8% | ||
| Q1 25 | -608.9% | -11.4% | ||
| Q4 24 | — | -2.9% | ||
| Q3 24 | -1898.4% | 0.2% | ||
| Q2 24 | -425.3% | 9.7% |
每股收益（稀释后）BCYCPI
| Q1 26 | — | $0.14 | ||
| Q4 25 | $-0.29 | $-0.02 | ||
| Q3 25 | $-0.85 | $-0.44 | ||
| Q2 25 | $-1.14 | $0.39 | ||
| Q1 25 | $-0.88 | $-0.30 | ||
| Q4 24 | — | $-0.06 | ||
| Q3 24 | $-0.74 | $0.01 | ||
| Q2 24 | $-0.77 | $0.34 |
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 | $628.1M | $131.8M |
| 总债务越低越好 | — | $241.5M |
| 股东权益账面价值 | $610.0M | — |
| 总资产 | $717.6M | $502.5M |
| 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BCYCPI
| Q1 26 | — | $131.8M | ||
| Q4 25 | $628.1M | $175.3M | ||
| Q3 25 | $648.3M | $190.1M | ||
| Q2 25 | $721.5M | $193.2M | ||
| Q1 25 | $793.0M | $147.9M | ||
| Q4 24 | $879.5M | $164.7M | ||
| Q3 24 | $890.9M | $170.3M | ||
| Q2 24 | $961.4M | $220.2M |
总债务BCYCPI
| Q1 26 | — | $241.5M | ||
| Q4 25 | — | $280.9M | ||
| Q3 25 | — | $280.4M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $283.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | $30.9M | — |
股东权益BCYCPI
| Q1 26 | — | — | ||
| Q4 25 | $610.0M | $209.2M | ||
| Q3 25 | $618.5M | $195.0M | ||
| Q2 25 | $668.9M | $187.7M | ||
| Q1 25 | $740.3M | $160.6M | ||
| Q4 24 | $793.1M | $149.9M | ||
| Q3 24 | $831.0M | $136.1M | ||
| Q2 24 | $873.8M | $117.0M |
总资产BCYCPI
| Q1 26 | — | $502.5M | ||
| Q4 25 | $717.6M | $545.2M | ||
| Q3 25 | $764.0M | $516.5M | ||
| Q2 25 | $832.2M | $508.8M | ||
| Q1 25 | $883.9M | $479.8M | ||
| Q4 24 | $956.9M | $489.1M | ||
| Q3 24 | $996.7M | $476.4M | ||
| Q2 24 | $1.1B | $446.1M |
负债/权益比BCYCPI
| Q1 26 | — | — | ||
| Q4 25 | — | 1.34× | ||
| Q3 25 | — | 1.44× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.89× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.04× | — |
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 | $-19.3M | — |
| 自由现金流经营现金流 - 资本支出 | $-19.9M | $2.2M |
| 自由现金流率自由现金流/营收 | -41.5% | 3.0% |
| 资本支出强度资本支出/营收 | 1.2% | — |
| 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 | $-252.0M | $61.1M |
8季度趋势，按日历期对齐
经营现金流BCYCPI
| Q1 26 | — | — | ||
| Q4 25 | $-19.3M | $15.1M | ||
| Q3 25 | $-71.2M | $20.9M | ||
| Q2 25 | $-72.8M | $33.9M | ||
| Q1 25 | $-86.4M | $-11.1M | ||
| Q4 24 | $-164.7M | $12.6M | ||
| Q3 24 | $-39.8M | $10.1M | ||
| Q2 24 | $-44.6M | $45.5M |
自由现金流BCYCPI
| Q1 26 | — | $2.2M | ||
| Q4 25 | $-19.9M | $13.6M | ||
| Q3 25 | $-71.8M | $18.0M | ||
| Q2 25 | $-73.3M | $27.3M | ||
| Q1 25 | $-87.0M | $-13.0M | ||
| Q4 24 | $-166.0M | $8.5M | ||
| Q3 24 | $-40.3M | $4.7M | ||
| Q2 24 | $-45.0M | $44.1M |
自由现金流率BCYCPI
| Q1 26 | — | 3.0% | ||
| Q4 25 | -41.5% | 14.7% | ||
| Q3 25 | -612.3% | 18.7% | ||
| Q2 25 | -2509.7% | 27.9% | ||
| Q1 25 | -871.7% | -17.5% | ||
| Q4 24 | -4475.7% | 9.3% | ||
| Q3 24 | -1504.7% | 4.9% | ||
| Q2 24 | -481.2% | 43.0% |
资本支出强度BCYCPI
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 1.6% | ||
| Q3 25 | 5.7% | 3.1% | ||
| Q2 25 | 17.1% | 6.7% | ||
| Q1 25 | 6.1% | 2.5% | ||
| Q4 24 | 33.3% | 4.5% | ||
| Q3 24 | 16.3% | 5.7% | ||
| Q2 24 | 4.5% | 1.3% |
现金转化率BCYCPI
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.93× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 45.56× | ||
| Q2 24 | — | 4.56× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
