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Ceribell, Inc.（CBLL）与TransMedics Group, Inc.（TMDX）财务数据对比。点击上方公司名可切换其他公司
TransMedics Group, Inc.的季度营收约是Ceribell, Inc.的6.5倍（$160.8M vs $24.8M）。TransMedics Group, Inc.净利率更高（65.6% vs -54.6%，领先120.1%）。TransMedics Group, Inc.自由现金流更多（$19.0M vs $-11.0M）
Ceribell, Inc.是一家专注于神经诊断领域的医疗科技企业，主打便携式快速脑电图检测设备，可为急症、重症护理场景提供便捷的癫痫发作监测解决方案，核心市场覆盖北美地区，目前正逐步推进全球化业务布局。
TransMedics Group, Inc.是一家专注于器官移植领域的医疗科技企业，核心产品器官护理系统可在运输过程中维持捐献器官的活性，提升心、肺、肝、肾移植手术的成功率，服务覆盖北美、欧洲及亚太地区的移植中心与器官获取组织。
CBLL vs TMDX — 直观对比
营收规模更大
TMDX
是对方的6.5倍
$24.8M
净利率更高
TMDX
高出120.1%
-54.6%
自由现金流更多
TMDX
多$30.0M
$-11.0M
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $24.8M | $160.8M |
| 净利润 | $-13.5M | $105.4M |
| 毛利率 | 87.3% | 58.1% |
| 营业利润率 | -58.9% | 13.2% |
| 净利率 | -54.6% | 65.6% |
| 营收同比 | — | 32.2% |
| 净利润同比 | — | 1436.9% |
| 每股收益（稀释后） | $-0.35 | $2.59 |
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CBLLTMDX
| Q4 25 | $24.8M | $160.8M | ||
| Q3 25 | $22.6M | $143.8M | ||
| Q2 25 | $21.2M | $157.4M | ||
| Q1 25 | $20.5M | $143.5M | ||
| Q4 24 | — | $121.6M | ||
| Q3 24 | $17.2M | $108.8M | ||
| Q2 24 | — | $114.3M | ||
| Q1 24 | — | $96.8M |
净利润CBLLTMDX
| Q4 25 | $-13.5M | $105.4M | ||
| Q3 25 | $-13.5M | $24.3M | ||
| Q2 25 | $-13.6M | $34.9M | ||
| Q1 25 | $-12.8M | $25.7M | ||
| Q4 24 | — | $6.9M | ||
| Q3 24 | $-10.4M | $4.2M | ||
| Q2 24 | — | $12.2M | ||
| Q1 24 | — | $12.2M |
毛利率CBLLTMDX
| Q4 25 | 87.3% | 58.1% | ||
| Q3 25 | 88.3% | 58.8% | ||
| Q2 25 | 88.1% | 61.4% | ||
| Q1 25 | 87.9% | 61.5% | ||
| Q4 24 | — | 59.2% | ||
| Q3 24 | 87.3% | 55.9% | ||
| Q2 24 | — | 60.6% | ||
| Q1 24 | — | 61.9% |
营业利润率CBLLTMDX
| Q4 25 | -58.9% | 13.2% | ||
| Q3 25 | -64.8% | 16.2% | ||
| Q2 25 | -70.5% | 23.2% | ||
| Q1 25 | -69.3% | 19.1% | ||
| Q4 24 | — | 7.1% | ||
| Q3 24 | -57.8% | 3.6% | ||
| Q2 24 | — | 10.9% | ||
| Q1 24 | — | 12.8% |
净利率CBLLTMDX
| Q4 25 | -54.6% | 65.6% | ||
| Q3 25 | -59.6% | 16.9% | ||
| Q2 25 | -64.4% | 22.2% | ||
| Q1 25 | -62.4% | 17.9% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | -60.6% | 3.9% | ||
| Q2 24 | — | 10.7% | ||
| Q1 24 | — | 12.6% |
每股收益（稀释后）CBLLTMDX
| Q4 25 | $-0.35 | $2.59 | ||
| Q3 25 | $-0.37 | $0.66 | ||
| Q2 25 | $-0.38 | $0.92 | ||
| Q1 25 | $-0.36 | $0.70 | ||
| Q4 24 | — | $0.19 | ||
| Q3 24 | $-1.85 | $0.12 | ||
| Q2 24 | — | $0.35 | ||
| Q1 24 | — | $0.35 |
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 | $159.3M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $155.3M | $473.1M |
| 总资产 | $195.8M | $1.1B |
| 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CBLLTMDX
| Q4 25 | $159.3M | — | ||
| Q3 25 | $168.5M | — | ||
| Q2 25 | $177.4M | — | ||
| Q1 25 | $182.7M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $14.1M | $330.1M | ||
| Q2 24 | — | $362.8M | ||
| Q1 24 | — | $350.2M |
股东权益CBLLTMDX
| Q4 25 | $155.3M | $473.1M | ||
| Q3 25 | $164.1M | $355.2M | ||
| Q2 25 | $172.2M | $318.1M | ||
| Q1 25 | $180.9M | $266.3M | ||
| Q4 24 | — | $228.6M | ||
| Q3 24 | $-136.0M | $209.9M | ||
| Q2 24 | — | $189.9M | ||
| Q1 24 | — | $159.5M |
总资产CBLLTMDX
| Q4 25 | $195.8M | $1.1B | ||
| Q3 25 | $199.5M | $946.0M | ||
| Q2 25 | $207.7M | $890.5M | ||
| Q1 25 | $213.5M | $837.5M | ||
| Q4 24 | — | $804.1M | ||
| Q3 24 | $47.1M | $785.6M | ||
| Q2 24 | — | $758.6M | ||
| Q1 24 | — | $723.8M |
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 | $-10.8M | $34.5M |
| 自由现金流经营现金流 - 资本支出 | $-11.0M | $19.0M |
| 自由现金流率自由现金流/营收 | -44.2% | 11.8% |
| 资本支出强度资本支出/营收 | 0.7% | 9.7% |
| 现金转化率经营现金流/净利润 | — | 0.33× |
| 过去12个月自由现金流最近4个季度 | $-41.6M | $133.6M |
8季度趋势，按日历期对齐
经营现金流CBLLTMDX
| Q4 25 | $-10.8M | $34.5M | ||
| Q3 25 | $-11.1M | $69.6M | ||
| Q2 25 | $-7.5M | $91.6M | ||
| Q1 25 | $-11.4M | $-2.9M | ||
| Q4 24 | — | $19.7M | ||
| Q3 24 | — | $6.9M | ||
| Q2 24 | — | $25.7M | ||
| Q1 24 | — | $-3.4M |
自由现金流CBLLTMDX
| Q4 25 | $-11.0M | $19.0M | ||
| Q3 25 | $-11.5M | $61.9M | ||
| Q2 25 | $-7.6M | $82.5M | ||
| Q1 25 | $-11.6M | $-29.9M | ||
| Q4 24 | — | $6.1M | ||
| Q3 24 | — | $-41.3M | ||
| Q2 24 | — | $2.0M | ||
| Q1 24 | — | $-47.6M |
自由现金流率CBLLTMDX
| Q4 25 | -44.2% | 11.8% | ||
| Q3 25 | -50.8% | 43.1% | ||
| Q2 25 | -35.9% | 52.4% | ||
| Q1 25 | -56.4% | -20.8% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | -38.0% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | -49.2% |
资本支出强度CBLLTMDX
| Q4 25 | 0.7% | 9.7% | ||
| Q3 25 | 1.6% | 5.3% | ||
| Q2 25 | 0.3% | 5.8% | ||
| Q1 25 | 0.7% | 18.8% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | 44.3% | ||
| Q2 24 | — | 20.8% | ||
| Q1 24 | — | 45.6% |
现金转化率CBLLTMDX
| Q4 25 | — | 0.33× | ||
| Q3 25 | — | 2.86× | ||
| Q2 25 | — | 2.62× | ||
| Q1 25 | — | -0.11× | ||
| Q4 24 | — | 2.87× | ||
| Q3 24 | — | 1.63× | ||
| Q2 24 | — | 2.11× | ||
| Q1 24 | — | -0.28× |
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
CBLL
| Products | $18.8M | 76% |
| Subscription | $6.0M | 24% |
TMDX
| Liver Product | $127.0M | 79% |
| Heart Product | $26.0M | 16% |
| Other | $5.9M | 4% |
| Lung Product | $1.9M | 1% |
