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GE医疗（CCRN）与再鼎医药（ZLAB）财务数据对比。点击上方公司名可切换其他公司
GE医疗的季度营收约是再鼎医药的1.9倍（$236.8M vs $127.1M），再鼎医药同比增速更快（17.1% vs -23.6%），GE医疗自由现金流更多（$16.1M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -21.0%）
GE医疗是总部位于美国伊利诺伊州芝加哥的医疗科技企业，品牌标识为GE HealthCare。公司主要业务分为四大板块：包含分子影像、CT、磁共振、妇科筛查及X光设备的医学影像业务、超声业务，以及聚焦远程患者监测、麻醉呼吸护理、心脏诊断、婴幼儿护理的患者护理解决方案业务，此外还开展医药相关业务。
再鼎医药是一家创新生物制药企业，专注于肿瘤、自身免疫性疾病、感染性疾病等领域创新疗法的研发、生产与商业化，核心市场覆盖大中华区，与全球多家头部生物科技企业合作，为存在未被满足医疗需求的患者提供治疗方案。
CCRN vs ZLAB — 直观对比
营收规模更大
CCRN
是对方的1.9倍
$127.1M
营收增速更快
ZLAB
高出40.7%
-23.6%
自由现金流更多
CCRN
多$42.8M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-21.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $236.8M | $127.1M |
| 净利润 | $-82.9M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | -30.2% | -54.6% |
| 净利率 | -35.0% | — |
| 营收同比 | -23.6% | 17.1% |
| 净利润同比 | -2109.7% | — |
| 每股收益（稀释后） | $-2.56 | $-0.05 |
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CCRNZLAB
| Q4 25 | $236.8M | $127.1M | ||
| Q3 25 | $250.1M | $115.4M | ||
| Q2 25 | $274.1M | $109.1M | ||
| Q1 25 | $293.4M | $105.7M | ||
| Q4 24 | $309.9M | $108.5M | ||
| Q3 24 | $315.1M | $101.8M | ||
| Q2 24 | $339.8M | $100.1M | ||
| Q1 24 | $379.2M | $87.1M |
净利润CCRNZLAB
| Q4 25 | $-82.9M | — | ||
| Q3 25 | $-4.8M | $-36.0M | ||
| Q2 25 | $-6.7M | $-40.7M | ||
| Q1 25 | $-490.0K | $-48.4M | ||
| Q4 24 | $-3.8M | — | ||
| Q3 24 | $2.6M | $-41.7M | ||
| Q2 24 | $-16.1M | $-80.3M | ||
| Q1 24 | $2.7M | $-53.5M |
毛利率CCRNZLAB
| Q4 25 | — | 51.0% | ||
| Q3 25 | 20.4% | 59.5% | ||
| Q2 25 | 20.4% | 60.6% | ||
| Q1 25 | 20.0% | 63.6% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | 20.4% | 64.1% | ||
| Q2 24 | 20.8% | 64.9% | ||
| Q1 24 | 20.4% | 61.4% |
营业利润率CCRNZLAB
| Q4 25 | -30.2% | -54.6% | ||
| Q3 25 | -2.4% | -42.3% | ||
| Q2 25 | -2.1% | -50.3% | ||
| Q1 25 | -0.3% | -53.3% | ||
| Q4 24 | -1.1% | -62.6% | ||
| Q3 24 | 0.9% | -66.6% | ||
| Q2 24 | -5.7% | -76.0% | ||
| Q1 24 | 0.8% | -80.7% |
净利率CCRNZLAB
| Q4 25 | -35.0% | — | ||
| Q3 25 | -1.9% | -31.2% | ||
| Q2 25 | -2.4% | -37.3% | ||
| Q1 25 | -0.2% | -45.8% | ||
| Q4 24 | -1.2% | — | ||
| Q3 24 | 0.8% | -40.9% | ||
| Q2 24 | -4.7% | -80.2% | ||
| Q1 24 | 0.7% | -61.4% |
每股收益（稀释后）CCRNZLAB
| Q4 25 | $-2.56 | $-0.05 | ||
| Q3 25 | $-0.15 | $-0.03 | ||
| Q2 25 | $-0.20 | $-0.04 | ||
| Q1 25 | $-0.02 | $-0.04 | ||
| Q4 24 | $-0.13 | $-0.09 | ||
| Q3 24 | $0.08 | $-0.04 | ||
| Q2 24 | $-0.47 | $-0.08 | ||
| Q1 24 | $0.08 | $-0.05 |
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 | $108.7M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $322.8M | $715.5M |
| 总资产 | $449.0M | $1.2B |
| 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CCRNZLAB
| Q4 25 | $108.7M | $689.6M | ||
| Q3 25 | $99.1M | $717.2M | ||
| Q2 25 | $81.2M | $732.2M | ||
| Q1 25 | $80.7M | $757.3M | ||
| Q4 24 | $81.6M | $779.7M | ||
| Q3 24 | $64.0M | $616.1M | ||
| Q2 24 | $69.6M | $630.0M | ||
| Q1 24 | $5.2M | $650.8M |
股东权益CCRNZLAB
| Q4 25 | $322.8M | $715.5M | ||
| Q3 25 | $408.1M | $759.9M | ||
| Q2 25 | $412.2M | $791.7M | ||
| Q1 25 | $418.2M | $810.8M | ||
| Q4 24 | $419.0M | $840.9M | ||
| Q3 24 | $424.7M | $667.7M | ||
| Q2 24 | $433.3M | $704.2M | ||
| Q1 24 | $462.4M | $762.2M |
总资产CCRNZLAB
| Q4 25 | $449.0M | $1.2B | ||
| Q3 25 | $538.2M | $1.2B | ||
| Q2 25 | $553.8M | $1.2B | ||
| Q1 25 | $576.2M | $1.2B | ||
| Q4 24 | $589.3M | $1.2B | ||
| Q3 24 | $597.4M | $985.3M | ||
| Q2 24 | $602.9M | $987.4M | ||
| Q1 24 | $648.4M | $988.4M |
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 | $18.2M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $16.1M | $-26.7M |
| 自由现金流率自由现金流/营收 | 6.8% | -21.0% |
| 资本支出强度资本支出/营收 | 0.9% | 0.5% |
| 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 | $40.1M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流CCRNZLAB
| Q4 25 | $18.2M | $-26.0M | ||
| Q3 25 | $20.1M | $-32.0M | ||
| Q2 25 | $4.2M | $-31.0M | ||
| Q1 25 | $5.7M | $-61.7M | ||
| Q4 24 | $24.2M | $-55.8M | ||
| Q3 24 | $7.5M | $-26.8M | ||
| Q2 24 | $82.4M | $-42.2M | ||
| Q1 24 | $6.0M | $-90.1M |
自由现金流CCRNZLAB
| Q4 25 | $16.1M | $-26.7M | ||
| Q3 25 | $17.9M | $-35.0M | ||
| Q2 25 | $2.3M | $-33.9M | ||
| Q1 25 | $3.8M | $-63.2M | ||
| Q4 24 | $21.7M | $-58.4M | ||
| Q3 24 | $6.3M | $-28.2M | ||
| Q2 24 | $79.6M | $-42.9M | ||
| Q1 24 | $3.8M | $-91.1M |
自由现金流率CCRNZLAB
| Q4 25 | 6.8% | -21.0% | ||
| Q3 25 | 7.2% | -30.4% | ||
| Q2 25 | 0.8% | -31.1% | ||
| Q1 25 | 1.3% | -59.9% | ||
| Q4 24 | 7.0% | -53.8% | ||
| Q3 24 | 2.0% | -27.7% | ||
| Q2 24 | 23.4% | -42.9% | ||
| Q1 24 | 1.0% | -104.5% |
资本支出强度CCRNZLAB
| Q4 25 | 0.9% | 0.5% | ||
| Q3 25 | 0.9% | 2.6% | ||
| Q2 25 | 0.7% | 2.6% | ||
| Q1 25 | 0.6% | 1.5% | ||
| Q4 24 | 0.8% | 2.4% | ||
| Q3 24 | 0.4% | 1.3% | ||
| Q2 24 | 0.8% | 0.7% | ||
| Q1 24 | 0.6% | 1.1% |
现金转化率CCRNZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.92× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.23× | — |
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
CCRN
| Temporary Staffing Services | $189.6M | 80% |
| Physician Staffing | $42.5M | 18% |
| Other Services | $4.7M | 2% |
ZLAB
| Zejula | $56.0M | 44% |
| Other | $21.9M | 17% |
| Nuzyra | $16.0M | 13% |
| Optune | $11.9M | 9% |
| XACDURO | $10.7M | 8% |
| Qinlock | $9.7M | 8% |
| AUGTYRO | $836.0K | 1% |
