vs
COPT DEFENSE PROPERTIES（CDP）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
COPT DEFENSE PROPERTIES的季度营收约是再鼎医药的1.6倍（$197.4M vs $127.1M），再鼎医药同比增速更快（17.1% vs 7.6%），COPT DEFENSE PROPERTIES自由现金流更多（$288.9M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 1.1%）
COPT Defense Properties是一家专业房地产投资信托基金，重点投资写字楼物业，资产主要布局于华盛顿大都会区的近郊区域，核心租户为美国政府及国防军工行业企业。截至2024年12月31日，公司旗下共持有164栋写字楼，总面积达1650万平方英尺，同时运营31个单租户数据中心，总面积590万平方英尺。
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。
CDP vs ZLAB — 直观对比
营收规模更大
CDP
是对方的1.6倍
$127.1M
营收增速更快
ZLAB
高出9.5%
7.6%
自由现金流更多
CDP
多$315.6M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $197.4M | $127.1M |
| 净利润 | $39.4M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | 19.9% | -54.6% |
| 净利率 | 20.0% | — |
| 营收同比 | 7.6% | 17.1% |
| 净利润同比 | 8.0% | — |
| 每股收益（稀释后） | $0.32 | $-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CDPZLAB
| Q4 25 | $197.4M | $127.1M | ||
| Q3 25 | $188.8M | $115.4M | ||
| Q2 25 | $189.9M | $109.1M | ||
| Q1 25 | $187.9M | $105.7M | ||
| Q4 24 | $183.4M | $108.5M | ||
| Q3 24 | $189.2M | $101.8M | ||
| Q2 24 | $187.3M | $100.1M | ||
| Q1 24 | $193.3M | $87.1M |
净利润CDPZLAB
| Q4 25 | $39.4M | — | ||
| Q3 25 | $43.7M | $-36.0M | ||
| Q2 25 | $40.2M | $-40.7M | ||
| Q1 25 | $36.2M | $-48.4M | ||
| Q4 24 | $36.5M | — | ||
| Q3 24 | $37.4M | $-41.7M | ||
| Q2 24 | $36.4M | $-80.3M | ||
| Q1 24 | $33.7M | $-53.5M |
毛利率CDPZLAB
| Q4 25 | — | 51.0% | ||
| Q3 25 | — | 59.5% | ||
| Q2 25 | — | 60.6% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 64.1% | ||
| Q2 24 | — | 64.9% | ||
| Q1 24 | — | 61.4% |
营业利润率CDPZLAB
| Q4 25 | 19.9% | -54.6% | ||
| Q3 25 | 22.5% | -42.3% | ||
| Q2 25 | 21.0% | -50.3% | ||
| Q1 25 | 19.1% | -53.3% | ||
| Q4 24 | 19.7% | -62.6% | ||
| Q3 24 | 19.8% | -66.6% | ||
| Q2 24 | 19.4% | -76.0% | ||
| Q1 24 | 17.5% | -80.7% |
净利率CDPZLAB
| Q4 25 | 20.0% | — | ||
| Q3 25 | 23.2% | -31.2% | ||
| Q2 25 | 21.1% | -37.3% | ||
| Q1 25 | 19.3% | -45.8% | ||
| Q4 24 | 19.9% | — | ||
| Q3 24 | 19.8% | -40.9% | ||
| Q2 24 | 19.4% | -80.2% | ||
| Q1 24 | 17.4% | -61.4% |
每股收益（稀释后）CDPZLAB
| Q4 25 | $0.32 | $-0.05 | ||
| Q3 25 | $0.37 | $-0.03 | ||
| Q2 25 | $0.34 | $-0.04 | ||
| Q1 25 | $0.31 | $-0.04 | ||
| Q4 24 | $0.31 | $-0.09 | ||
| Q3 24 | $0.32 | $-0.04 | ||
| Q2 24 | $0.31 | $-0.08 | ||
| Q1 24 | $0.29 | $-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 | $275.0M | $689.6M |
| 总债务越低越好 | $2.8B | — |
| 股东权益账面价值 | $1.5B | $715.5M |
| 总资产 | $4.7B | $1.2B |
| 负债/权益比越低杠杆越低 | 1.83× | — |
8季度趋势，按日历期对齐
现金及短期投资CDPZLAB
| Q4 25 | $275.0M | $689.6M | ||
| Q3 25 | $23.7M | $717.2M | ||
| Q2 25 | $21.3M | $732.2M | ||
| Q1 25 | $24.3M | $757.3M | ||
| Q4 24 | $38.3M | $779.7M | ||
| Q3 24 | $34.5M | $616.1M | ||
| Q2 24 | $100.4M | $630.0M | ||
| Q1 24 | $123.1M | $650.8M |
总债务CDPZLAB
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.4B | — | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.4B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.4B | — |
股东权益CDPZLAB
| Q4 25 | $1.5B | $715.5M | ||
| Q3 25 | $1.5B | $759.9M | ||
| Q2 25 | $1.5B | $791.7M | ||
| Q1 25 | $1.5B | $810.8M | ||
| Q4 24 | $1.5B | $840.9M | ||
| Q3 24 | $1.5B | $667.7M | ||
| Q2 24 | $1.5B | $704.2M | ||
| Q1 24 | $1.5B | $762.2M |
总资产CDPZLAB
| Q4 25 | $4.7B | $1.2B | ||
| Q3 25 | $4.4B | $1.2B | ||
| Q2 25 | $4.3B | $1.2B | ||
| Q1 25 | $4.3B | $1.2B | ||
| Q4 24 | $4.3B | $1.2B | ||
| Q3 24 | $4.2B | $985.3M | ||
| Q2 24 | $4.2B | $987.4M | ||
| Q1 24 | $4.2B | $988.4M |
负债/权益比CDPZLAB
| Q4 25 | 1.83× | — | ||
| Q3 25 | 1.62× | — | ||
| Q2 25 | 1.63× | — | ||
| Q1 25 | 1.62× | — | ||
| Q4 24 | 1.60× | — | ||
| Q3 24 | 1.61× | — | ||
| Q2 24 | 1.61× | — | ||
| Q1 24 | 1.63× | — |
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 | $309.9M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $288.9M | $-26.7M |
| 自由现金流率自由现金流/营收 | 146.4% | -21.0% |
| 资本支出强度资本支出/营收 | 10.7% | 0.5% |
| 现金转化率经营现金流/净利润 | 7.87× | — |
| 过去12个月自由现金流最近4个季度 | $501.5M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流CDPZLAB
| Q4 25 | $309.9M | $-26.0M | ||
| Q3 25 | $68.6M | $-32.0M | ||
| Q2 25 | $87.9M | $-31.0M | ||
| Q1 25 | $72.1M | $-61.7M | ||
| Q4 24 | $331.0M | $-55.8M | ||
| Q3 24 | $65.1M | $-26.8M | ||
| Q2 24 | $93.8M | $-42.2M | ||
| Q1 24 | $71.0M | $-90.1M |
自由现金流CDPZLAB
| Q4 25 | $288.9M | $-26.7M | ||
| Q3 25 | $62.9M | $-35.0M | ||
| Q2 25 | $84.5M | $-33.9M | ||
| Q1 25 | $65.1M | $-63.2M | ||
| Q4 24 | $299.6M | $-58.4M | ||
| Q3 24 | $61.0M | $-28.2M | ||
| Q2 24 | $88.4M | $-42.9M | ||
| Q1 24 | $57.9M | $-91.1M |
自由现金流率CDPZLAB
| Q4 25 | 146.4% | -21.0% | ||
| Q3 25 | 33.3% | -30.4% | ||
| Q2 25 | 44.5% | -31.1% | ||
| Q1 25 | 34.7% | -59.9% | ||
| Q4 24 | 163.3% | -53.8% | ||
| Q3 24 | 32.3% | -27.7% | ||
| Q2 24 | 47.2% | -42.9% | ||
| Q1 24 | 30.0% | -104.5% |
资本支出强度CDPZLAB
| Q4 25 | 10.7% | 0.5% | ||
| Q3 25 | 3.0% | 2.6% | ||
| Q2 25 | 1.8% | 2.6% | ||
| Q1 25 | 3.7% | 1.5% | ||
| Q4 24 | 17.1% | 2.4% | ||
| Q3 24 | 2.1% | 1.3% | ||
| Q2 24 | 2.9% | 0.7% | ||
| Q1 24 | 6.8% | 1.1% |
现金转化率CDPZLAB
| Q4 25 | 7.87× | — | ||
| Q3 25 | 1.57× | — | ||
| Q2 25 | 2.19× | — | ||
| Q1 25 | 1.99× | — | ||
| Q4 24 | 9.08× | — | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 2.58× | — | ||
| Q1 24 | 2.11× | — |
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
CDP
暂无分部数据
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% |
