vs
biote Corp.（BTMD）与Cronos Group Inc.（CRON）财务数据对比。点击上方公司名可切换其他公司
biote Corp.的季度营收约是Cronos Group Inc.的1.0倍（$46.4M vs $44.5M）。biote Corp.净利率更高（4.2% vs -4.1%，领先8.3%）。Cronos Group Inc.同比增速更快（47.0% vs -6.9%）。Cronos Group Inc.自由现金流更多（$9.7M vs $6.5M）。过去两年Cronos Group Inc.的营收复合增速更高（32.7% vs -0.4%）
biote Corp是一家专注于个性化生物同质性激素替代疗法的医疗企业，主要面向美国市场运营，为持牌医疗从业者提供相关培训课程，同时推出配套健康补剂与诊断服务，以提升患者诊疗效果。
Cronos集团是全球性大麻素企业，主营大麻种植、加工及相关衍生产品的分销业务，产品线覆盖健康补充剂、快消品及医用大麻品类，主要服务北美、欧洲、亚太地区的合规娱乐与医用消费市场，严格遵循各地监管要求保障产品品质。
BTMD vs CRON — 直观对比
营收规模更大
BTMD
是对方的1.0倍
$44.5M
营收增速更快
CRON
高出53.8%
-6.9%
净利率更高
BTMD
高出8.3%
-4.1%
自由现金流更多
CRON
多$3.2M
$6.5M
两年增速更快
CRON
近两年复合增速
-0.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $46.4M | $44.5M |
| 净利润 | $2.0M | $-1.8M |
| 毛利率 | — | 36.4% |
| 营业利润率 | 14.7% | -16.8% |
| 净利率 | 4.2% | -4.1% |
| 营收同比 | -6.9% | 47.0% |
| 净利润同比 | -47.2% | -104.2% |
| 每股收益（稀释后） | $0.05 | $-0.01 |
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BTMDCRON
| Q4 25 | $46.4M | $44.5M | ||
| Q3 25 | $48.0M | $36.3M | ||
| Q2 25 | $48.9M | $33.5M | ||
| Q1 25 | $49.0M | $32.3M | ||
| Q4 24 | $49.8M | $30.3M | ||
| Q3 24 | $51.4M | $34.3M | ||
| Q2 24 | $49.2M | $27.8M | ||
| Q1 24 | $46.8M | $25.3M |
净利润BTMDCRON
| Q4 25 | $2.0M | $-1.8M | ||
| Q3 25 | $8.2M | $26.0M | ||
| Q2 25 | $3.2M | $-39.7M | ||
| Q1 25 | $13.7M | $6.1M | ||
| Q4 24 | $3.7M | $43.7M | ||
| Q3 24 | $10.7M | $8.3M | ||
| Q2 24 | $-7.1M | $-8.8M | ||
| Q1 24 | $-4.2M | $-2.2M |
毛利率BTMDCRON
| Q4 25 | — | 36.4% | ||
| Q3 25 | — | 50.4% | ||
| Q2 25 | — | 43.4% | ||
| Q1 25 | — | 42.6% | ||
| Q4 24 | — | 35.7% | ||
| Q3 24 | — | 10.5% | ||
| Q2 24 | — | 22.7% | ||
| Q1 24 | — | 17.7% |
营业利润率BTMDCRON
| Q4 25 | 14.7% | -16.8% | ||
| Q3 25 | 17.2% | -1.4% | ||
| Q2 25 | 22.0% | -15.9% | ||
| Q1 25 | 19.8% | -12.6% | ||
| Q4 24 | 5.6% | -37.5% | ||
| Q3 24 | 23.7% | -98.2% | ||
| Q2 24 | 12.7% | -56.1% | ||
| Q1 24 | 22.3% | -63.1% |
净利率BTMDCRON
| Q4 25 | 4.2% | -4.1% | ||
| Q3 25 | 17.1% | 71.4% | ||
| Q2 25 | 6.5% | -118.7% | ||
| Q1 25 | 28.0% | 19.0% | ||
| Q4 24 | 7.4% | 144.3% | ||
| Q3 24 | 20.8% | 24.4% | ||
| Q2 24 | -14.4% | -31.5% | ||
| Q1 24 | -8.9% | -8.9% |
每股收益（稀释后）BTMDCRON
| Q4 25 | $0.05 | $-0.01 | ||
| Q3 25 | $0.22 | $0.07 | ||
| Q2 25 | $0.10 | $-0.10 | ||
| Q1 25 | $0.37 | $0.02 | ||
| Q4 24 | $0.09 | $0.12 | ||
| Q3 24 | $0.33 | $0.02 | ||
| Q2 24 | $-0.21 | $-0.02 | ||
| Q1 24 | $-0.12 | $-0.01 |
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 | $24.1M | $831.8M |
| 总债务越低越好 | $103.1M | — |
| 股东权益账面价值 | $-58.5M | $1.1B |
| 总资产 | $107.6M | $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BTMDCRON
| Q4 25 | $24.1M | $831.8M | ||
| Q3 25 | $28.0M | $824.2M | ||
| Q2 25 | $19.6M | $834.4M | ||
| Q1 25 | $41.7M | $837.8M | ||
| Q4 24 | $39.3M | $858.8M | ||
| Q3 24 | $38.2M | $862.0M | ||
| Q2 24 | $26.4M | $848.2M | ||
| Q1 24 | $78.8M | $855.1M |
总债务BTMDCRON
| Q4 25 | $103.1M | — | ||
| Q3 25 | $104.7M | — | ||
| Q2 25 | $106.3M | — | ||
| Q1 25 | $107.8M | — | ||
| Q4 24 | $109.4M | — | ||
| Q3 24 | $110.9M | — | ||
| Q2 24 | $112.5M | — | ||
| Q1 24 | $114.1M | — |
股东权益BTMDCRON
| Q4 25 | $-58.5M | $1.1B | ||
| Q3 25 | $-72.8M | $1.1B | ||
| Q2 25 | $-85.1M | $1.1B | ||
| Q1 25 | $-90.0M | $1.1B | ||
| Q4 24 | $-105.9M | $1.1B | ||
| Q3 24 | $-130.3M | $1.1B | ||
| Q2 24 | $-143.2M | $1.1B | ||
| Q1 24 | $-36.0M | $1.1B |
总资产BTMDCRON
| Q4 25 | $107.6M | $1.2B | ||
| Q3 25 | $111.3M | $1.2B | ||
| Q2 25 | $104.8M | $1.2B | ||
| Q1 25 | $123.4M | $1.2B | ||
| Q4 24 | $122.4M | $1.2B | ||
| Q3 24 | $101.3M | $1.2B | ||
| Q2 24 | $92.9M | $1.1B | ||
| Q1 24 | $160.1M | $1.1B |
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 | $7.6M | $11.8M |
| 自由现金流经营现金流 - 资本支出 | $6.5M | $9.7M |
| 自由现金流率自由现金流/营收 | 14.0% | 21.8% |
| 资本支出强度资本支出/营收 | 2.3% | 4.8% |
| 现金转化率经营现金流/净利润 | 3.87× | — |
| 过去12个月自由现金流最近4个季度 | $30.2M | $149.0K |
8季度趋势，按日历期对齐
经营现金流BTMDCRON
| Q4 25 | $7.6M | $11.8M | ||
| Q3 25 | $14.1M | $13.3M | ||
| Q2 25 | $7.1M | $2.8M | ||
| Q1 25 | $6.5M | $-2.1M | ||
| Q4 24 | $12.4M | $7.7M | ||
| Q3 24 | $15.6M | $11.6M | ||
| Q2 24 | $9.9M | $1.7M | ||
| Q1 24 | $7.4M | $-2.2M |
自由现金流BTMDCRON
| Q4 25 | $6.5M | $9.7M | ||
| Q3 25 | $13.6M | $8.8M | ||
| Q2 25 | $5.3M | $-1.0M | ||
| Q1 25 | $4.8M | $-17.4M | ||
| Q4 24 | $10.7M | $4.2M | ||
| Q3 24 | $14.0M | $5.2M | ||
| Q2 24 | $7.4M | $1.0M | ||
| Q1 24 | $6.7M | $-3.9M |
自由现金流率BTMDCRON
| Q4 25 | 14.0% | 21.8% | ||
| Q3 25 | 28.3% | 24.3% | ||
| Q2 25 | 10.8% | -3.0% | ||
| Q1 25 | 9.9% | -53.8% | ||
| Q4 24 | 21.5% | 13.8% | ||
| Q3 24 | 27.3% | 15.1% | ||
| Q2 24 | 15.1% | 3.7% | ||
| Q1 24 | 14.2% | -15.5% |
资本支出强度BTMDCRON
| Q4 25 | 2.3% | 4.8% | ||
| Q3 25 | 1.0% | 12.3% | ||
| Q2 25 | 3.7% | 11.5% | ||
| Q1 25 | 3.3% | 47.3% | ||
| Q4 24 | 3.4% | 11.7% | ||
| Q3 24 | 3.0% | 18.7% | ||
| Q2 24 | 5.1% | 2.6% | ||
| Q1 24 | 1.5% | 6.8% |
现金转化率BTMDCRON
| Q4 25 | 3.87× | — | ||
| Q3 25 | 1.72× | 0.51× | ||
| Q2 25 | 2.22× | — | ||
| Q1 25 | 0.47× | -0.34× | ||
| Q4 24 | 3.34× | 0.18× | ||
| Q3 24 | 1.45× | 1.39× | ||
| Q2 24 | — | — | ||
| 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
BTMD
| Product Revenue | $45.3M | 98% |
| Disposable Trocars Product Revenue | $1.2M | 3% |
CRON
| Cannabis Flower | $33.7M | 76% |
| Cannabis Extracts | $10.8M | 24% |
