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Blaize Holdings, Inc.（BZAI）与礼来（RNA）财务数据对比。点击上方公司名可切换其他公司
Blaize Holdings, Inc.的季度营收约是礼来的1.9倍（$23.8M vs $12.5M），Blaize Holdings, Inc.净利率更高（-13.9% vs -1398.3%，领先1384.5%），Blaize Holdings, Inc.同比增速更快（2377500.0% vs 434.0%），Blaize Holdings, Inc.自由现金流更多（$-16.5M vs $-156.9M）
Blaize Holdings Inc.是一家专注于边缘人工智能计算解决方案的科技企业，主打低能耗AI处理器、低延迟推理软件栈及端到端边缘AI开发工具，核心服务自动驾驶、工业自动化、智慧城市、边缘医疗监测等应用场景。
礼来是总部位于美国印第安纳州印第安纳波利斯的跨国制药企业，在18个国家设有办事处，产品销往全球约125个国家。公司由美国内战时期联邦军退伍军人、药剂师伊莱·礼来于1876年创立，品牌名即取自创始人姓名。
BZAI vs RNA — 直观对比
营收规模更大
BZAI
是对方的1.9倍
$12.5M
营收增速更快
BZAI
高出2377066.0%
434.0%
净利率更高
BZAI
高出1384.5%
-1398.3%
自由现金流更多
BZAI
多$140.3M
$-156.9M
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $23.8M | $12.5M |
| 净利润 | $-3.3M | $-174.4M |
| 毛利率 | 10.8% | — |
| 营业利润率 | -89.8% | -1513.5% |
| 净利率 | -13.9% | -1398.3% |
| 营收同比 | 2377500.0% | 434.0% |
| 净利润同比 | 50.7% | -117.0% |
| 每股收益（稀释后） | $0.16 | $-1.27 |
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BZAIRNA
| Q4 25 | $23.8M | — | ||
| Q3 25 | $11.9M | $12.5M | ||
| Q2 25 | — | $3.8M | ||
| Q1 25 | — | $1.6M | ||
| Q4 24 | — | $3.0M | ||
| Q3 24 | — | $2.3M | ||
| Q2 24 | — | $2.0M | ||
| Q1 24 | — | $3.5M |
净利润BZAIRNA
| Q4 25 | $-3.3M | — | ||
| Q3 25 | $-26.3M | $-174.4M | ||
| Q2 25 | — | $-157.3M | ||
| Q1 25 | — | $-115.8M | ||
| Q4 24 | — | $-102.3M | ||
| Q3 24 | — | $-80.4M | ||
| Q2 24 | — | $-70.8M | ||
| Q1 24 | — | $-68.9M |
毛利率BZAIRNA
| Q4 25 | 10.8% | — | ||
| Q3 25 | 15.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率BZAIRNA
| Q4 25 | -89.8% | — | ||
| Q3 25 | -190.3% | -1513.5% | ||
| Q2 25 | — | -4448.7% | ||
| Q1 25 | — | -8360.9% | ||
| Q4 24 | — | -4069.6% | ||
| Q3 24 | — | -4200.9% | ||
| Q2 24 | — | -4040.4% | ||
| Q1 24 | — | -2178.6% |
净利率BZAIRNA
| Q4 25 | -13.9% | — | ||
| Q3 25 | -221.3% | -1398.3% | ||
| Q2 25 | — | -4089.3% | ||
| Q1 25 | — | -7360.0% | ||
| Q4 24 | — | -3439.5% | ||
| Q3 24 | — | -3441.7% | ||
| Q2 24 | — | -3461.8% | ||
| Q1 24 | — | -1943.4% |
每股收益（稀释后）BZAIRNA
| Q4 25 | $0.16 | — | ||
| Q3 25 | $-0.25 | $-1.27 | ||
| Q2 25 | — | $-1.21 | ||
| Q1 25 | — | $-0.90 | ||
| Q4 24 | — | $-0.80 | ||
| Q3 24 | — | $-0.65 | ||
| Q2 24 | — | $-0.65 | ||
| Q1 24 | — | $-0.79 |
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 | $45.8M | $350.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $39.0M | $1.9B |
| 总资产 | $102.2M | $2.1B |
| 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BZAIRNA
| Q4 25 | $45.8M | — | ||
| Q3 25 | $24.0M | $350.2M | ||
| Q2 25 | — | $243.9M | ||
| Q1 25 | — | $254.2M | ||
| Q4 24 | — | $219.9M | ||
| Q3 24 | — | $370.2M | ||
| Q2 24 | — | $575.8M | ||
| Q1 24 | — | $471.4M |
股东权益BZAIRNA
| Q4 25 | $39.0M | — | ||
| Q3 25 | $1.3M | $1.9B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $830.9M |
总资产BZAIRNA
| Q4 25 | $102.2M | — | ||
| Q3 25 | $60.9M | $2.1B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $951.5M |
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 | $-16.5M | $-156.2M |
| 自由现金流经营现金流 - 资本支出 | $-16.5M | $-156.9M |
| 自由现金流率自由现金流/营收 | -69.6% | -1257.6% |
| 资本支出强度资本支出/营收 | 0.3% | 5.7% |
| 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 | — | $-592.3M |
8季度趋势，按日历期对齐
经营现金流BZAIRNA
| Q4 25 | $-16.5M | — | ||
| Q3 25 | $-24.9M | $-156.2M | ||
| Q2 25 | — | $-199.7M | ||
| Q1 25 | — | $-124.8M | ||
| Q4 24 | — | $-99.9M | ||
| Q3 24 | — | $-65.6M | ||
| Q2 24 | — | $-65.0M | ||
| Q1 24 | — | $-70.4M |
自由现金流BZAIRNA
| Q4 25 | $-16.5M | — | ||
| Q3 25 | $-24.9M | $-156.9M | ||
| Q2 25 | — | $-203.0M | ||
| Q1 25 | — | $-128.6M | ||
| Q4 24 | — | $-103.8M | ||
| Q3 24 | — | $-67.3M | ||
| Q2 24 | — | $-65.5M | ||
| Q1 24 | — | $-71.3M |
自由现金流率BZAIRNA
| Q4 25 | -69.6% | — | ||
| Q3 25 | -210.2% | -1257.6% | ||
| Q2 25 | — | -5277.1% | ||
| Q1 25 | — | -8174.3% | ||
| Q4 24 | — | -3491.0% | ||
| Q3 24 | — | -2881.8% | ||
| Q2 24 | — | -3204.6% | ||
| Q1 24 | — | -2012.3% |
资本支出强度BZAIRNA
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.2% | 5.7% | ||
| Q2 25 | — | 86.9% | ||
| Q1 25 | — | 238.6% | ||
| Q4 24 | — | 131.7% | ||
| Q3 24 | — | 72.9% | ||
| Q2 24 | — | 26.0% | ||
| Q1 24 | — | 25.8% |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
