vs
拜玛林制药（BMRN）与EXACT SCIENCES CORP（EXAS）财务数据对比。点击上方公司名可切换其他公司
EXACT SCIENCES CORP的季度营收约是拜玛林制药的1.0倍（$878.4M vs $874.6M），拜玛林制药净利率更高（-5.3% vs -9.8%，领先4.5%），EXACT SCIENCES CORP同比增速更快（23.1% vs 17.0%），EXACT SCIENCES CORP自由现金流更多（$120.4M vs $58.9M），过去两年EXACT SCIENCES CORP的营收复合增速更高（17.4% vs 16.1%）
拜玛林制药是总部位于美国加利福尼亚州圣拉斐尔的生物技术企业，在美洲、亚洲、欧洲多地设有办事机构及生产设施，核心业务聚焦酶替代疗法研发，是全球首个推出Ⅰ型粘多糖贮积症治疗药物拉罗尼酶及苯丙酮尿症治疗药物的企业。
Exact Sciences是总部位于美国威斯康星州麦迪逊的分子诊断企业，专注于早期癌症检测领域。公司核心产品覆盖结直肠癌筛查与预防场景，其中Cologuard是全球首个获批的结直肠癌粪便DNA检测产品，同时还提供其他多种癌症的筛查服务及精准肿瘤检测解决方案。
BMRN vs EXAS — 直观对比
营收规模更大
EXAS
是对方的1.0倍
$874.6M
营收增速更快
EXAS
高出6.1%
17.0%
净利率更高
BMRN
高出4.5%
-9.8%
自由现金流更多
EXAS
多$61.5M
$58.9M
两年增速更快
EXAS
近两年复合增速
16.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $874.6M | $878.4M |
| 净利润 | $-46.6M | $-86.0M |
| 毛利率 | 68.5% | 70.1% |
| 营业利润率 | -5.1% | -9.4% |
| 净利率 | -5.3% | -9.8% |
| 营收同比 | 17.0% | 23.1% |
| 净利润同比 | -137.3% | 90.1% |
| 每股收益（稀释后） | $-0.22 | $-0.45 |
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BMRNEXAS
| Q4 25 | $874.6M | $878.4M | ||
| Q3 25 | $776.1M | $850.7M | ||
| Q2 25 | $825.4M | $811.1M | ||
| Q1 25 | $745.1M | $706.8M | ||
| Q4 24 | $747.3M | $713.4M | ||
| Q3 24 | $745.7M | $708.7M | ||
| Q2 24 | $712.0M | $699.3M | ||
| Q1 24 | $648.8M | $637.5M |
净利润BMRNEXAS
| Q4 25 | $-46.6M | $-86.0M | ||
| Q3 25 | $-30.7M | $-19.6M | ||
| Q2 25 | $240.5M | $-1.2M | ||
| Q1 25 | $185.7M | $-101.2M | ||
| Q4 24 | $124.9M | $-864.6M | ||
| Q3 24 | $106.1M | $-38.2M | ||
| Q2 24 | $107.2M | $-15.8M | ||
| Q1 24 | $88.7M | $-110.2M |
毛利率BMRNEXAS
| Q4 25 | 68.5% | 70.1% | ||
| Q3 25 | 82.0% | 68.6% | ||
| Q2 25 | 81.8% | 69.3% | ||
| Q1 25 | 79.7% | 70.8% | ||
| Q4 24 | 81.8% | 69.0% | ||
| Q3 24 | 74.7% | 69.4% | ||
| Q2 24 | 81.7% | 69.8% | ||
| Q1 24 | 80.7% | 70.0% |
营业利润率BMRNEXAS
| Q4 25 | -5.1% | -9.4% | ||
| Q3 25 | -6.0% | -3.0% | ||
| Q2 25 | 33.5% | -0.3% | ||
| Q1 25 | 30.0% | -13.6% | ||
| Q4 24 | 21.6% | -122.8% | ||
| Q3 24 | 15.3% | -5.6% | ||
| Q2 24 | 16.9% | -3.8% | ||
| Q1 24 | 13.6% | -16.7% |
净利率BMRNEXAS
| Q4 25 | -5.3% | -9.8% | ||
| Q3 25 | -4.0% | -2.3% | ||
| Q2 25 | 29.1% | -0.1% | ||
| Q1 25 | 24.9% | -14.3% | ||
| Q4 24 | 16.7% | -121.2% | ||
| Q3 24 | 14.2% | -5.4% | ||
| Q2 24 | 15.1% | -2.3% | ||
| Q1 24 | 13.7% | -17.3% |
每股收益（稀释后）BMRNEXAS
| Q4 25 | $-0.22 | $-0.45 | ||
| Q3 25 | $-0.16 | $-0.10 | ||
| Q2 25 | $1.23 | $-0.01 | ||
| Q1 25 | $0.95 | $-0.54 | ||
| Q4 24 | $0.65 | $-4.69 | ||
| Q3 24 | $0.55 | $-0.21 | ||
| Q2 24 | $0.55 | $-0.09 | ||
| Q1 24 | $0.46 | $-0.60 |
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 | $1.3B | $964.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.1B | $2.4B |
| 总资产 | $7.6B | $5.9B |
| 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BMRNEXAS
| Q4 25 | $1.3B | $964.7M | ||
| Q3 25 | $1.3B | $1.0B | ||
| Q2 25 | $1.2B | $858.4M | ||
| Q1 25 | $1.0B | $786.2M | ||
| Q4 24 | $942.8M | $1.0B | ||
| Q3 24 | $675.4M | $1.0B | ||
| Q2 24 | $972.1M | $946.8M | ||
| Q1 24 | $747.0M | $652.1M |
股东权益BMRNEXAS
| Q4 25 | $6.1B | $2.4B | ||
| Q3 25 | $6.1B | $2.5B | ||
| Q2 25 | $6.0B | $2.5B | ||
| Q1 25 | $5.8B | $2.4B | ||
| Q4 24 | $5.7B | $2.4B | ||
| Q3 24 | $5.4B | $3.2B | ||
| Q2 24 | $5.3B | $3.2B | ||
| Q1 24 | $5.1B | $3.1B |
总资产BMRNEXAS
| Q4 25 | $7.6B | $5.9B | ||
| Q3 25 | $7.6B | $5.9B | ||
| Q2 25 | $7.5B | $5.8B | ||
| Q1 25 | $7.1B | $5.7B | ||
| Q4 24 | $7.0B | $5.9B | ||
| Q3 24 | $6.9B | $6.7B | ||
| Q2 24 | $7.1B | $6.7B | ||
| Q1 24 | $6.9B | $6.4B |
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 | $99.6M | $151.7M |
| 自由现金流经营现金流 - 资本支出 | $58.9M | $120.4M |
| 自由现金流率自由现金流/营收 | 6.7% | 13.7% |
| 资本支出强度资本支出/营收 | 4.7% | 3.6% |
| 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 | $725.0M | $356.8M |
8季度趋势，按日历期对齐
经营现金流BMRNEXAS
| Q4 25 | $99.6M | $151.7M | ||
| Q3 25 | $368.7M | $219.9M | ||
| Q2 25 | $185.3M | $89.0M | ||
| Q1 25 | $174.4M | $30.8M | ||
| Q4 24 | $185.6M | $47.1M | ||
| Q3 24 | $221.5M | $138.7M | ||
| Q2 24 | $118.8M | $107.1M | ||
| Q1 24 | $47.0M | $-82.3M |
自由现金流BMRNEXAS
| Q4 25 | $58.9M | $120.4M | ||
| Q3 25 | $340.2M | $190.0M | ||
| Q2 25 | $168.2M | $46.7M | ||
| Q1 25 | $157.6M | $-365.0K | ||
| Q4 24 | $166.1M | $10.7M | ||
| Q3 24 | $203.0M | $112.6M | ||
| Q2 24 | $97.4M | $71.2M | ||
| Q1 24 | $20.9M | $-120.0M |
自由现金流率BMRNEXAS
| Q4 25 | 6.7% | 13.7% | ||
| Q3 25 | 43.8% | 22.3% | ||
| Q2 25 | 20.4% | 5.8% | ||
| Q1 25 | 21.2% | -0.1% | ||
| Q4 24 | 22.2% | 1.5% | ||
| Q3 24 | 27.2% | 15.9% | ||
| Q2 24 | 13.7% | 10.2% | ||
| Q1 24 | 3.2% | -18.8% |
资本支出强度BMRNEXAS
| Q4 25 | 4.7% | 3.6% | ||
| Q3 25 | 3.7% | 3.5% | ||
| Q2 25 | 2.1% | 5.2% | ||
| Q1 25 | 2.3% | 4.4% | ||
| Q4 24 | 2.6% | 5.1% | ||
| Q3 24 | 2.5% | 3.7% | ||
| Q2 24 | 3.0% | 5.1% | ||
| Q1 24 | 4.0% | 5.9% |
现金转化率BMRNEXAS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.77× | — | ||
| Q1 25 | 0.94× | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 2.09× | — | ||
| Q2 24 | 1.11× | — | ||
| Q1 24 | 0.53× | — |
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
BMRN
| VOXZOGO | $273.4M | 31% |
| VIMIZIM | $205.5M | 24% |
| PALYNZIQ | $125.3M | 14% |
| NAGLAZYME | $120.2M | 14% |
| Other | $49.4M | 6% |
| ALDURAZYME | $49.4M | 6% |
| KUVAN | $23.3M | 3% |
| Royalty And Other | $15.2M | 2% |
| ROCTAVIAN | $12.8M | 1% |
EXAS
| Screening | $695.1M | 79% |
| Precision Oncology | $183.2M | 21% |
