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微牛（BULL）与PUMA BIOTECHNOLOGY, INC.（PBYI）财务数据对比。点击上方公司名可切换其他公司
微牛的季度营收约是PUMA BIOTECHNOLOGY, INC.的1.7倍（$131.5M vs $75.5M），微牛同比增速更快（46.3% vs 27.7%），微牛自由现金流更多（$271.7M vs $14.4M）
微牛（Webull）是总部位于美国佛罗里达州圣彼得堡的金融服务控股企业，核心运营与品牌同名的电子交易平台，面向用户提供便捷的线上证券等金融产品交易服务，是海外知名的互联网券商服务提供商。
彪马生物技术是一家公开上市的生物制药企业，总部位于美国加利福尼亚州洛杉矶，专注于创新药物研发相关业务，在生物制药领域开展研发与商业化运营。
BULL vs PBYI — 直观对比
营收规模更大
BULL
是对方的1.7倍
$75.5M
营收增速更快
BULL
高出18.6%
27.7%
自由现金流更多
BULL
多$257.3M
$14.4M
损益表 — Q2 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $131.5M | $75.5M |
| 净利润 | $-28.3M | — |
| 毛利率 | — | 69.3% |
| 营业利润率 | -16.3% | 22.7% |
| 净利率 | -21.5% | — |
| 营收同比 | 46.3% | 27.7% |
| 净利润同比 | -144.3% | — |
| 每股收益（稀释后） | — | $0.26 |
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BULLPBYI
| Q4 25 | — | $75.5M | ||
| Q3 25 | — | $54.5M | ||
| Q2 25 | $131.5M | $52.4M | ||
| Q1 25 | — | $46.0M | ||
| Q4 24 | — | $59.1M | ||
| Q3 24 | — | $80.5M | ||
| Q2 24 | $89.9M | $47.1M | ||
| Q1 24 | — | $43.8M |
净利润BULLPBYI
| Q4 25 | — | — | ||
| Q3 25 | — | $8.8M | ||
| Q2 25 | $-28.3M | $5.9M | ||
| Q1 25 | — | $3.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $20.3M | ||
| Q2 24 | $-11.6M | $-4.5M | ||
| Q1 24 | — | $-4.8M |
毛利率BULLPBYI
| Q4 25 | — | 69.3% | ||
| Q3 25 | — | 77.7% | ||
| Q2 25 | — | 76.5% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | — | 63.9% | ||
| Q2 24 | — | 77.4% | ||
| Q1 24 | — | 75.5% |
营业利润率BULLPBYI
| Q4 25 | — | 22.7% | ||
| Q3 25 | — | 17.6% | ||
| Q2 25 | -16.3% | 12.7% | ||
| Q1 25 | — | 8.7% | ||
| Q4 24 | — | 22.6% | ||
| Q3 24 | — | 27.4% | ||
| Q2 24 | -11.4% | -4.6% | ||
| Q1 24 | — | -5.3% |
净利率BULLPBYI
| Q4 25 | — | — | ||
| Q3 25 | — | 16.2% | ||
| Q2 25 | -21.5% | 11.2% | ||
| Q1 25 | — | 6.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 25.2% | ||
| Q2 24 | -12.9% | -9.6% | ||
| Q1 24 | — | -11.0% |
每股收益（稀释后）BULLPBYI
| Q4 25 | — | $0.26 | ||
| Q3 25 | — | $0.17 | ||
| Q2 25 | — | $0.12 | ||
| Q1 25 | — | $0.06 | ||
| Q4 24 | — | $0.40 | ||
| Q3 24 | — | $0.41 | ||
| Q2 24 | — | $-0.09 | ||
| Q1 24 | — | $-0.10 |
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 | $476.7M | $97.5M |
| 总债务越低越好 | — | $22.7M |
| 股东权益账面价值 | $751.6M | $130.3M |
| 总资产 | $2.6B | $216.3M |
| 负债/权益比越低杠杆越低 | — | 0.17× |
8季度趋势，按日历期对齐
现金及短期投资BULLPBYI
| Q4 25 | — | $97.5M | ||
| Q3 25 | — | $94.4M | ||
| Q2 25 | $476.7M | $96.0M | ||
| Q1 25 | — | $93.2M | ||
| Q4 24 | — | $101.0M | ||
| Q3 24 | — | $96.7M | ||
| Q2 24 | — | $96.8M | ||
| Q1 24 | — | $107.2M |
总债务BULLPBYI
| Q4 25 | — | $22.7M | ||
| Q3 25 | — | $34.0M | ||
| Q2 25 | — | $45.3M | ||
| Q1 25 | — | $56.7M | ||
| Q4 24 | — | $68.0M | ||
| Q3 24 | — | $79.3M | ||
| Q2 24 | — | $90.7M | ||
| Q1 24 | — | $102.0M |
股东权益BULLPBYI
| Q4 25 | — | $130.3M | ||
| Q3 25 | — | $115.3M | ||
| Q2 25 | $751.6M | $104.7M | ||
| Q1 25 | — | $97.1M | ||
| Q4 24 | — | $92.1M | ||
| Q3 24 | — | $71.1M | ||
| Q2 24 | $-2.9B | $48.5M | ||
| Q1 24 | — | $51.0M |
总资产BULLPBYI
| Q4 25 | — | $216.3M | ||
| Q3 25 | — | $202.9M | ||
| Q2 25 | $2.6B | $194.9M | ||
| Q1 25 | — | $196.2M | ||
| Q4 24 | — | $213.3M | ||
| Q3 24 | — | $220.7M | ||
| Q2 24 | — | $205.0M | ||
| Q1 24 | — | $214.1M |
负债/权益比BULLPBYI
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.43× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 1.12× | ||
| Q2 24 | — | 1.87× | ||
| Q1 24 | — | 2.00× |
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 | $272.1M | $14.4M |
| 自由现金流经营现金流 - 资本支出 | $271.7M | $14.4M |
| 自由现金流率自由现金流/营收 | 206.6% | 19.1% |
| 资本支出强度资本支出/营收 | 0.3% | 0.0% |
| 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 | — | $41.7M |
8季度趋势，按日历期对齐
经营现金流BULLPBYI
| Q4 25 | — | $14.4M | ||
| Q3 25 | — | $9.7M | ||
| Q2 25 | $272.1M | $14.1M | ||
| Q1 25 | — | $3.6M | ||
| Q4 24 | — | $15.6M | ||
| Q3 24 | — | $11.0M | ||
| Q2 24 | — | $1.0M | ||
| Q1 24 | — | $11.2M |
自由现金流BULLPBYI
| Q4 25 | — | $14.4M | ||
| Q3 25 | — | $9.7M | ||
| Q2 25 | $271.7M | $14.1M | ||
| Q1 25 | — | $3.6M | ||
| Q4 24 | — | $15.6M | ||
| Q3 24 | — | $11.0M | ||
| Q2 24 | — | $1.0M | ||
| Q1 24 | — | — |
自由现金流率BULLPBYI
| Q4 25 | — | 19.1% | ||
| Q3 25 | — | 17.7% | ||
| Q2 25 | 206.6% | 26.8% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | — | 26.4% | ||
| Q3 24 | — | 13.7% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | — | — |
资本支出强度BULLPBYI
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | 0.3% | 0.0% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
现金转化率BULLPBYI
| Q4 25 | — | — | ||
| Q3 25 | — | 1.10× | ||
| Q2 25 | — | 2.41× | ||
| Q1 25 | — | 1.21× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.54× | ||
| 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
