vs
鲍德温（BWIN）与REPLIGEN CORP（RGEN）财务数据对比。点击上方公司名可切换其他公司
鲍德温的季度营收约是REPLIGEN CORP的1.8倍（$347.3M vs $197.9M），REPLIGEN CORP净利率更高（6.7% vs -7.5%，领先14.2%），REPLIGEN CORP同比增速更快（13.6% vs 5.3%），REPLIGEN CORP自由现金流更多（$17.6M vs $-68.9M），过去两年REPLIGEN CORP的营收复合增速更高（14.4% vs -4.4%）
鲍德温钢琴是美国知名钢琴品牌，曾是美国最大的键盘乐器制造商，主打 slogan 为「美国人最喜爱的钢琴」。2001年起成为吉普森品牌旗下子公司，2008年12月停止美国本土生产，将钢琴制造生产线迁至中国。
Repligen是一家全球生命科学企业，专注于创新生物工艺技术与系统的研发及商业化，助力提升生物药生产效率。公司1981年成立，总部位于美国马萨诸塞州沃尔瑟姆，于纳斯达克挂牌上市，股票代码RGEN，截至2025年全球员工超1900人，主要服务生物制药领域客户。
BWIN vs RGEN — 直观对比
营收规模更大
BWIN
是对方的1.8倍
$197.9M
营收增速更快
RGEN
高出8.4%
5.3%
净利率更高
RGEN
高出14.2%
-7.5%
自由现金流更多
RGEN
多$86.5M
$-68.9M
两年增速更快
RGEN
近两年复合增速
-4.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $347.3M | $197.9M |
| 净利润 | $-25.9M | $13.3M |
| 毛利率 | — | 52.5% |
| 营业利润率 | -3.8% | 9.0% |
| 净利率 | -7.5% | 6.7% |
| 营收同比 | 5.3% | 13.6% |
| 净利润同比 | -28.3% | 143.9% |
| 每股收益（稀释后） | $-0.38 | $0.24 |
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BWINRGEN
| Q4 25 | $347.3M | $197.9M | ||
| Q3 25 | $365.4M | $188.8M | ||
| Q2 25 | $378.8M | $182.4M | ||
| Q1 25 | $413.4M | $169.2M | ||
| Q4 24 | $329.9M | $174.1M | ||
| Q3 24 | $338.9M | $154.9M | ||
| Q2 24 | $339.8M | $154.1M | ||
| Q1 24 | $380.4M | $151.3M |
净利润BWINRGEN
| Q4 25 | $-25.9M | $13.3M | ||
| Q3 25 | $-18.7M | $14.9M | ||
| Q2 25 | $-3.2M | $14.9M | ||
| Q1 25 | $13.9M | $5.8M | ||
| Q4 24 | $-20.2M | $-30.3M | ||
| Q3 24 | $-8.4M | $-654.0K | ||
| Q2 24 | $-17.6M | $3.3M | ||
| Q1 24 | $21.6M | $2.1M |
毛利率BWINRGEN
| Q4 25 | — | 52.5% | ||
| Q3 25 | — | 53.2% | ||
| Q2 25 | — | 50.0% | ||
| Q1 25 | — | 53.6% | ||
| Q4 24 | — | 26.1% | ||
| Q3 24 | — | 50.0% | ||
| Q2 24 | — | 49.8% | ||
| Q1 24 | — | 49.5% |
营业利润率BWINRGEN
| Q4 25 | -3.8% | 9.0% | ||
| Q3 25 | 0.9% | 8.9% | ||
| Q2 25 | 7.4% | 7.6% | ||
| Q1 25 | 13.6% | 3.9% | ||
| Q4 24 | -1.7% | -17.7% | ||
| Q3 24 | 4.5% | -5.1% | ||
| Q2 24 | 4.8% | 1.0% | ||
| Q1 24 | 9.0% | 1.3% |
净利率BWINRGEN
| Q4 25 | -7.5% | 6.7% | ||
| Q3 25 | -5.1% | 7.9% | ||
| Q2 25 | -0.8% | 8.2% | ||
| Q1 25 | 3.4% | 3.4% | ||
| Q4 24 | -6.2% | -17.4% | ||
| Q3 24 | -2.5% | -0.4% | ||
| Q2 24 | -5.2% | 2.2% | ||
| Q1 24 | 5.7% | 1.4% |
每股收益（稀释后）BWINRGEN
| Q4 25 | $-0.38 | $0.24 | ||
| Q3 25 | $-0.27 | $0.26 | ||
| Q2 25 | $-0.05 | $0.26 | ||
| Q1 25 | $0.20 | $0.10 | ||
| Q4 24 | $-0.31 | $-0.55 | ||
| Q3 24 | $-0.13 | $-0.01 | ||
| Q2 24 | $-0.28 | $0.06 | ||
| Q1 24 | $0.33 | $0.04 |
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 | $123.7M | $767.6M |
| 总债务越低越好 | — | $542.2M |
| 股东权益账面价值 | $600.2M | $2.1B |
| 总资产 | $3.9B | $2.9B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资BWINRGEN
| Q4 25 | $123.7M | $767.6M | ||
| Q3 25 | $89.7M | $748.7M | ||
| Q2 25 | $105.7M | $708.9M | ||
| Q1 25 | $81.8M | $697.2M | ||
| Q4 24 | $90.0M | $757.4M | ||
| Q3 24 | $181.8M | $784.0M | ||
| Q2 24 | $208.3M | $809.1M | ||
| Q1 24 | $112.1M | $780.6M |
总债务BWINRGEN
| Q4 25 | — | $542.2M | ||
| Q3 25 | — | $537.9M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $525.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益BWINRGEN
| Q4 25 | $600.2M | $2.1B | ||
| Q3 25 | $619.7M | $2.1B | ||
| Q2 25 | $630.8M | $2.1B | ||
| Q1 25 | $619.6M | $2.0B | ||
| Q4 24 | $583.2M | $2.0B | ||
| Q3 24 | $595.4M | $2.0B | ||
| Q2 24 | $590.9M | $2.0B | ||
| Q1 24 | $597.9M | $2.0B |
总资产BWINRGEN
| Q4 25 | $3.9B | $2.9B | ||
| Q3 25 | $3.8B | $2.9B | ||
| Q2 25 | $3.7B | $2.9B | ||
| Q1 25 | $3.5B | $2.9B | ||
| Q4 24 | $3.5B | $2.8B | ||
| Q3 24 | $3.5B | $2.8B | ||
| Q2 24 | $3.7B | $2.9B | ||
| Q1 24 | $3.5B | $2.8B |
负债/权益比BWINRGEN
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-29.4M | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $-68.9M | $17.6M |
| 自由现金流率自由现金流/营收 | -19.9% | 8.9% |
| 资本支出强度资本支出/营收 | 11.4% | 4.1% |
| 现金转化率经营现金流/净利润 | — | 1.93× |
| 过去12个月自由现金流最近4个季度 | $-137.8M | $93.9M |
8季度趋势，按日历期对齐
经营现金流BWINRGEN
| Q4 25 | $-29.4M | $25.7M | ||
| Q3 25 | $41.0M | $48.1M | ||
| Q2 25 | $-16.7M | $28.6M | ||
| Q1 25 | $-64.0M | $15.0M | ||
| Q4 24 | $51.5M | $39.2M | ||
| Q3 24 | $32.4M | $49.3M | ||
| Q2 24 | $18.3M | $42.2M | ||
| Q1 24 | $3.0M | $44.7M |
自由现金流BWINRGEN
| Q4 25 | $-68.9M | $17.6M | ||
| Q3 25 | $32.2M | $43.4M | ||
| Q2 25 | $-28.1M | $21.5M | ||
| Q1 25 | $-72.9M | $11.4M | ||
| Q4 24 | $10.4M | $33.6M | ||
| Q3 24 | $22.2M | $42.3M | ||
| Q2 24 | $7.8M | $37.4M | ||
| Q1 24 | $-5.1M | $36.4M |
自由现金流率BWINRGEN
| Q4 25 | -19.9% | 8.9% | ||
| Q3 25 | 8.8% | 23.0% | ||
| Q2 25 | -7.4% | 11.8% | ||
| Q1 25 | -17.6% | 6.8% | ||
| Q4 24 | 3.2% | 19.3% | ||
| Q3 24 | 6.6% | 27.3% | ||
| Q2 24 | 2.3% | 24.3% | ||
| Q1 24 | -1.4% | 24.0% |
资本支出强度BWINRGEN
| Q4 25 | 11.4% | 4.1% | ||
| Q3 25 | 2.4% | 2.5% | ||
| Q2 25 | 3.0% | 3.9% | ||
| Q1 25 | 2.2% | 2.1% | ||
| Q4 24 | 12.4% | 3.2% | ||
| Q3 24 | 3.0% | 4.5% | ||
| Q2 24 | 3.1% | 3.1% | ||
| Q1 24 | 2.1% | 5.5% |
现金转化率BWINRGEN
| Q4 25 | — | 1.93× | ||
| Q3 25 | — | 3.23× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | -4.59× | 2.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 12.70× | ||
| Q1 24 | 0.14× | 21.35× |
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
BWIN
| Insurance Advisory Solutions | $157.9M | 45% |
| Underwriting Capacity Technology Solutions | $129.5M | 37% |
| Consultingand Service Fee Revenue | $20.9M | 6% |
| Policy Feeand Installment Fee Revenue | $20.4M | 6% |
| Other | $7.3M | 2% |
| Earned Premium | $6.9M | 2% |
| Other Insurance Product Line | $4.4M | 1% |
RGEN
暂无分部数据
