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CBL & ASSOCIATES PROPERTIES INC（CBL）与REPLIGEN CORP（RGEN）财务数据对比。点击上方公司名可切换其他公司
REPLIGEN CORP的季度营收约是CBL & ASSOCIATES PROPERTIES INC的1.3倍（$197.9M vs $156.4M），CBL & ASSOCIATES PROPERTIES INC净利率更高（31.3% vs 6.7%，领先24.6%），CBL & ASSOCIATES PROPERTIES INC同比增速更快（18.8% vs 13.6%），过去两年REPLIGEN CORP的营收复合增速更高（14.4% vs 10.1%）
CBL联合地产是一家美国房地产投资信托企业，核心投资布局为购物中心与商业摩尔，业务主要集中在美国东南部与中西部地区。公司在特拉华州注册，总部设于田纳西州查塔努加，该城市也是其最大的布局市场，公司名称取自创始人查尔斯·B·勒博维茨的姓名首字母。
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。
CBL vs RGEN — 直观对比
营收规模更大
RGEN
是对方的1.3倍
$156.4M
营收增速更快
CBL
高出5.1%
13.6%
净利率更高
CBL
高出24.6%
6.7%
两年增速更快
RGEN
近两年复合增速
10.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $156.4M | $197.9M |
| 净利润 | $49.0M | $13.3M |
| 毛利率 | — | 52.5% |
| 营业利润率 | — | 9.0% |
| 净利率 | 31.3% | 6.7% |
| 营收同比 | 18.8% | 13.6% |
| 净利润同比 | 29.0% | 143.9% |
| 每股收益（稀释后） | $1.61 | $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CBLRGEN
| Q4 25 | $156.4M | $197.9M | ||
| Q3 25 | $139.3M | $188.8M | ||
| Q2 25 | $140.9M | $182.4M | ||
| Q1 25 | $141.8M | $169.2M | ||
| Q4 24 | $131.7M | $174.1M | ||
| Q3 24 | $125.1M | $154.9M | ||
| Q2 24 | $129.7M | $154.1M | ||
| Q1 24 | $129.1M | $151.3M |
净利润CBLRGEN
| Q4 25 | $49.0M | $13.3M | ||
| Q3 25 | $75.4M | $14.9M | ||
| Q2 25 | $2.8M | $14.9M | ||
| Q1 25 | $8.8M | $5.8M | ||
| Q4 24 | $38.0M | $-30.3M | ||
| Q3 24 | $16.2M | $-654.0K | ||
| Q2 24 | $4.7M | $3.3M | ||
| Q1 24 | $50.0K | $2.1M |
毛利率CBLRGEN
| 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CBLRGEN
| Q4 25 | — | 9.0% | ||
| Q3 25 | — | 8.9% | ||
| Q2 25 | — | 7.6% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | — | -17.7% | ||
| Q3 24 | — | -5.1% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 1.3% |
净利率CBLRGEN
| Q4 25 | 31.3% | 6.7% | ||
| Q3 25 | 54.2% | 7.9% | ||
| Q2 25 | 2.0% | 8.2% | ||
| Q1 25 | 6.2% | 3.4% | ||
| Q4 24 | 28.8% | -17.4% | ||
| Q3 24 | 12.9% | -0.4% | ||
| Q2 24 | 3.7% | 2.2% | ||
| Q1 24 | 0.0% | 1.4% |
每股收益（稀释后）CBLRGEN
| Q4 25 | $1.61 | $0.24 | ||
| Q3 25 | $2.38 | $0.26 | ||
| Q2 25 | $0.08 | $0.26 | ||
| Q1 25 | $0.27 | $0.10 | ||
| Q4 24 | $1.22 | $-0.55 | ||
| Q3 24 | $0.52 | $-0.01 | ||
| Q2 24 | $0.14 | $0.06 | ||
| Q1 24 | $-0.01 | $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 | $42.3M | $767.6M |
| 总债务越低越好 | $2.2B | $542.2M |
| 股东权益账面价值 | $374.9M | $2.1B |
| 总资产 | $2.7B | $2.9B |
| 负债/权益比越低杠杆越低 | 5.79× | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资CBLRGEN
| Q4 25 | $42.3M | $767.6M | ||
| Q3 25 | $52.6M | $748.7M | ||
| Q2 25 | $100.3M | $708.9M | ||
| Q1 25 | $100.3M | $697.2M | ||
| Q4 24 | $40.8M | $757.4M | ||
| Q3 24 | $65.1M | $784.0M | ||
| Q2 24 | $57.7M | $809.1M | ||
| Q1 24 | $57.7M | $780.6M |
总债务CBLRGEN
| Q4 25 | $2.2B | $542.2M | ||
| Q3 25 | $2.2B | $537.9M | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.2B | $525.6M | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $1.9B | — |
股东权益CBLRGEN
| Q4 25 | $374.9M | $2.1B | ||
| Q3 25 | $351.4M | $2.1B | ||
| Q2 25 | $289.4M | $2.1B | ||
| Q1 25 | $295.0M | $2.0B | ||
| Q4 24 | $323.5M | $2.0B | ||
| Q3 24 | $308.3M | $2.0B | ||
| Q2 24 | $308.8M | $2.0B | ||
| Q1 24 | $324.2M | $2.0B |
总资产CBLRGEN
| Q4 25 | $2.7B | $2.9B | ||
| Q3 25 | $2.7B | $2.9B | ||
| Q2 25 | $2.6B | $2.9B | ||
| Q1 25 | $2.6B | $2.9B | ||
| Q4 24 | $2.7B | $2.8B | ||
| Q3 24 | $2.2B | $2.8B | ||
| Q2 24 | $2.3B | $2.9B | ||
| Q1 24 | $2.3B | $2.8B |
负债/权益比CBLRGEN
| Q4 25 | 5.79× | 0.26× | ||
| Q3 25 | 6.21× | 0.26× | ||
| Q2 25 | 7.39× | — | ||
| Q1 25 | 7.29× | — | ||
| Q4 24 | 6.84× | 0.27× | ||
| Q3 24 | 5.76× | — | ||
| Q2 24 | 6.00× | — | ||
| Q1 24 | 5.74× | — |
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 | $249.7M | $25.7M |
| 自由现金流经营现金流 - 资本支出 | — | $17.6M |
| 自由现金流率自由现金流/营收 | — | 8.9% |
| 资本支出强度资本支出/营收 | — | 4.1% |
| 现金转化率经营现金流/净利润 | 5.10× | 1.93× |
| 过去12个月自由现金流最近4个季度 | — | $93.9M |
8季度趋势，按日历期对齐
经营现金流CBLRGEN
| Q4 25 | $249.7M | $25.7M | ||
| Q3 25 | $69.6M | $48.1M | ||
| Q2 25 | $68.3M | $28.6M | ||
| Q1 25 | $31.7M | $15.0M | ||
| Q4 24 | $202.2M | $39.2M | ||
| Q3 24 | $61.1M | $49.3M | ||
| Q2 24 | $64.2M | $42.2M | ||
| Q1 24 | $30.7M | $44.7M |
自由现金流CBLRGEN
| Q4 25 | — | $17.6M | ||
| Q3 25 | — | $43.4M | ||
| Q2 25 | — | $21.5M | ||
| Q1 25 | — | $11.4M | ||
| Q4 24 | — | $33.6M | ||
| Q3 24 | $46.0M | $42.3M | ||
| Q2 24 | $54.8M | $37.4M | ||
| Q1 24 | $24.7M | $36.4M |
自由现金流率CBLRGEN
| Q4 25 | — | 8.9% | ||
| Q3 25 | — | 23.0% | ||
| Q2 25 | — | 11.8% | ||
| Q1 25 | — | 6.8% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | 36.8% | 27.3% | ||
| Q2 24 | 42.2% | 24.3% | ||
| Q1 24 | 19.1% | 24.0% |
资本支出强度CBLRGEN
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | 12.1% | 4.5% | ||
| Q2 24 | 7.3% | 3.1% | ||
| Q1 24 | 4.7% | 5.5% |
现金转化率CBLRGEN
| Q4 25 | 5.10× | 1.93× | ||
| Q3 25 | 0.92× | 3.23× | ||
| Q2 25 | 24.74× | 1.92× | ||
| Q1 25 | 3.60× | 2.57× | ||
| Q4 24 | 5.32× | — | ||
| Q3 24 | 3.77× | — | ||
| Q2 24 | 13.54× | 12.70× | ||
| Q1 24 | 614.76× | 21.35× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
