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Confluent, Inc.（CFLT）与Royalty Pharma plc（RPRX）财务数据对比。点击上方公司名可切换其他公司
Royalty Pharma plc的季度营收约是Confluent, Inc.的2.0倍（$622.0M vs $314.8M），Royalty Pharma plc净利率更高（34.4% vs -25.2%，领先59.6%），Confluent, Inc.同比增速更快（20.5% vs 4.8%），过去两年Confluent, Inc.的营收复合增速更高（20.4% vs 4.6%）
Confluent Inc是总部位于美国加利福尼亚州山景城的科技企业，由杰伊·克雷普斯、饶军、内哈·纳克赫德于2014年创立，核心业务为商业化三人2008年在LinkedIn任职时开发的开源流处理平台Apache Kafka，旗下产品包括Confluent Cloud云服务、Confluent Platform平台、连接器、Apache Flink、流治理套件及Confluent Hub等。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
CFLT vs RPRX — 直观对比
营收规模更大
RPRX
是对方的2.0倍
$314.8M
营收增速更快
CFLT
高出15.7%
4.8%
净利率更高
RPRX
高出59.6%
-25.2%
两年增速更快
CFLT
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $314.8M | $622.0M |
| 净利润 | $-79.2M | $214.2M |
| 毛利率 | 74.7% | — |
| 营业利润率 | -31.5% | 62.4% |
| 净利率 | -25.2% | 34.4% |
| 营收同比 | 20.5% | 4.8% |
| 净利润同比 | 10.0% | 2.9% |
| 每股收益（稀释后） | $-0.23 | $0.49 |
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CFLTRPRX
| Q4 25 | $314.8M | $622.0M | ||
| Q3 25 | $298.5M | $609.3M | ||
| Q2 25 | $282.3M | $578.7M | ||
| Q1 25 | $271.1M | $568.2M | ||
| Q4 24 | $261.2M | $593.6M | ||
| Q3 24 | $250.2M | $564.7M | ||
| Q2 24 | $235.0M | $537.3M | ||
| Q1 24 | $217.2M | $568.0M |
净利润CFLTRPRX
| Q4 25 | $-79.2M | $214.2M | ||
| Q3 25 | $-66.5M | $288.2M | ||
| Q2 25 | $-82.0M | $30.2M | ||
| Q1 25 | $-67.6M | $238.3M | ||
| Q4 24 | $-88.1M | $208.2M | ||
| Q3 24 | $-74.1M | $544.0M | ||
| Q2 24 | $-89.9M | $102.0M | ||
| Q1 24 | $-93.0M | $4.8M |
毛利率CFLTRPRX
| Q4 25 | 74.7% | — | ||
| Q3 25 | 74.2% | — | ||
| Q2 25 | 73.7% | — | ||
| Q1 25 | 74.5% | — | ||
| Q4 24 | 74.1% | — | ||
| Q3 24 | 74.5% | — | ||
| Q2 24 | 72.3% | — | ||
| Q1 24 | 71.8% | — |
营业利润率CFLTRPRX
| Q4 25 | -31.5% | 62.4% | ||
| Q3 25 | -27.9% | 70.1% | ||
| Q2 25 | -34.2% | 36.3% | ||
| Q1 25 | -37.3% | 94.0% | ||
| Q4 24 | -40.5% | 60.9% | ||
| Q3 24 | -37.4% | — | ||
| Q2 24 | -46.1% | 50.2% | ||
| Q1 24 | -51.3% | -13.0% |
净利率CFLTRPRX
| Q4 25 | -25.2% | 34.4% | ||
| Q3 25 | -22.3% | 47.3% | ||
| Q2 25 | -29.0% | 5.2% | ||
| Q1 25 | -24.9% | 41.9% | ||
| Q4 24 | -33.7% | 35.1% | ||
| Q3 24 | -29.6% | 96.3% | ||
| Q2 24 | -38.3% | 19.0% | ||
| Q1 24 | -42.8% | 0.8% |
每股收益（稀释后）CFLTRPRX
| Q4 25 | $-0.23 | $0.49 | ||
| Q3 25 | $-0.19 | $0.67 | ||
| Q2 25 | $-0.24 | $0.07 | ||
| Q1 25 | $-0.20 | $0.55 | ||
| Q4 24 | $-0.26 | $0.46 | ||
| Q3 24 | $-0.23 | $1.21 | ||
| Q2 24 | $-0.28 | $0.23 | ||
| Q1 24 | $-0.30 | $0.01 |
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 | $347.2M | $618.7M |
| 总债务越低越好 | $1.1B | $9.0B |
| 股东权益账面价值 | $1.2B | $9.7B |
| 总资产 | $3.0B | $19.6B |
| 负债/权益比越低杠杆越低 | 0.94× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资CFLTRPRX
| Q4 25 | $347.2M | $618.7M | ||
| Q3 25 | $298.5M | $938.9M | ||
| Q2 25 | $295.6M | $631.9M | ||
| Q1 25 | $278.6M | $1.1B | ||
| Q4 24 | $386.0M | $929.0M | ||
| Q3 24 | $322.6M | $950.1M | ||
| Q2 24 | $311.3M | $1.8B | ||
| Q1 24 | $336.4M | $843.0M |
总债务CFLTRPRX
| Q4 25 | $1.1B | $9.0B | ||
| Q3 25 | $1.1B | $8.9B | ||
| Q2 25 | $1.1B | $8.0B | ||
| Q1 25 | $1.1B | $7.6B | ||
| Q4 24 | $1.1B | $7.6B | ||
| Q3 24 | $1.1B | $7.6B | ||
| Q2 24 | $1.1B | $7.6B | ||
| Q1 24 | $1.1B | $6.1B |
股东权益CFLTRPRX
| Q4 25 | $1.2B | $9.7B | ||
| Q3 25 | $1.1B | $9.6B | ||
| Q2 25 | $1.1B | $9.5B | ||
| Q1 25 | $1.0B | $9.8B | ||
| Q4 24 | $961.2M | $10.3B | ||
| Q3 24 | $934.3M | $10.3B | ||
| Q2 24 | $873.9M | $9.8B | ||
| Q1 24 | $845.2M | $9.9B |
总资产CFLTRPRX
| Q4 25 | $3.0B | $19.6B | ||
| Q3 25 | $2.9B | $19.3B | ||
| Q2 25 | $2.8B | $18.3B | ||
| Q1 25 | $2.7B | $17.6B | ||
| Q4 24 | $2.7B | $18.2B | ||
| Q3 24 | $2.6B | $18.0B | ||
| Q2 24 | $2.5B | $17.7B | ||
| Q1 24 | $2.4B | $16.1B |
负债/权益比CFLTRPRX
| Q4 25 | 0.94× | 0.92× | ||
| Q3 25 | 0.98× | 0.93× | ||
| Q2 25 | 1.03× | 0.84× | ||
| Q1 25 | 1.07× | 0.78× | ||
| Q4 24 | 1.14× | 0.74× | ||
| Q3 24 | 1.17× | 0.74× | ||
| Q2 24 | 1.25× | 0.78× | ||
| Q1 24 | 1.29× | 0.62× |
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 | $42.1M | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $41.7M | — |
| 自由现金流率自由现金流/营收 | 13.2% | — |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 现金转化率经营现金流/净利润 | — | 3.86× |
| 过去12个月自由现金流最近4个季度 | $60.7M | — |
8季度趋势，按日历期对齐
经营现金流CFLTRPRX
| Q4 25 | $42.1M | $827.1M | ||
| Q3 25 | $30.8M | $702.6M | ||
| Q2 25 | $18.1M | $364.0M | ||
| Q1 25 | $-26.8M | $596.1M | ||
| Q4 24 | $35.2M | $742.5M | ||
| Q3 24 | $15.6M | $703.6M | ||
| Q2 24 | $8.6M | $658.2M | ||
| Q1 24 | $-26.0M | $664.6M |
自由现金流CFLTRPRX
| Q4 25 | $41.7M | — | ||
| Q3 25 | $30.0M | — | ||
| Q2 25 | $17.2M | — | ||
| Q1 25 | $-28.2M | — | ||
| Q4 24 | $34.5M | — | ||
| Q3 24 | $15.0M | — | ||
| Q2 24 | $7.5M | — | ||
| Q1 24 | $-26.1M | — |
自由现金流率CFLTRPRX
| Q4 25 | 13.2% | — | ||
| Q3 25 | 10.0% | — | ||
| Q2 25 | 6.1% | — | ||
| Q1 25 | -10.4% | — | ||
| Q4 24 | 13.2% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | -12.0% | — |
资本支出强度CFLTRPRX
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 0.1% | — |
现金转化率CFLTRPRX
| Q4 25 | — | 3.86× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | — | 12.06× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 6.45× | ||
| Q1 24 | — | 139.10× |
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
CFLT
| Confluent Cloud | $169.4M | 54% |
| Post Contract Customer Support | $93.8M | 30% |
| License | $38.4M | 12% |
| Services | $13.2M | 4% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
