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Cipher Mining Inc.（CIFR）与牛津地产（IIPR）财务数据对比。点击上方公司名可切换其他公司
牛津地产的季度营收约是Cipher Mining Inc.的1.1倍（$66.7M vs $59.7M），牛津地产净利率更高（47.8% vs -1229.6%，领先1277.4%），Cipher Mining Inc.同比增速更快（41.4% vs -13.1%），过去两年Cipher Mining Inc.的营收复合增速更高（11.4% vs -6.0%）
Cipher Mining Inc.是总部位于美国的比特币挖矿生态运营企业，当前正全力发展加密货币相关业务，深耕加密行业上游基础设施赛道，依托技术及合规优势构建稳定高效的挖矿服务体系。
牛津地产是一家加拿大跨国企业，业务涵盖房地产投资、开发与物业管理。其投资组合包含写字楼、零售、工业、多户住宅、生命科学及酒店类资产。该公司1960年以私营企业形式创立，自2003年起成为安大略省市政雇员退休系统（OMERS）的全资子公司，总部设于多伦多，在纽约、伦敦、澳大利亚、新加坡及卢森堡均设有区域总部。
CIFR vs IIPR — 直观对比
营收规模更大
IIPR
是对方的1.1倍
$59.7M
营收增速更快
CIFR
高出54.6%
-13.1%
净利率更高
IIPR
高出1277.4%
-1229.6%
两年增速更快
CIFR
近两年复合增速
-6.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $59.7M | $66.7M |
| 净利润 | $-734.2M | $31.8M |
| 毛利率 | 59.4% | — |
| 营业利润率 | -503.4% | 47.8% |
| 净利率 | -1229.6% | 47.8% |
| 营收同比 | 41.4% | -13.1% |
| 净利润同比 | -4293.1% | -20.4% |
| 每股收益（稀释后） | $-1.91 | $1.07 |
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CIFRIIPR
| Q4 25 | $59.7M | $66.7M | ||
| Q3 25 | $71.7M | $64.7M | ||
| Q2 25 | $43.6M | $62.9M | ||
| Q1 25 | $49.0M | $71.7M | ||
| Q4 24 | $42.2M | $76.7M | ||
| Q3 24 | $24.1M | $76.5M | ||
| Q2 24 | $36.8M | $79.8M | ||
| Q1 24 | $48.1M | $75.5M |
净利润CIFRIIPR
| Q4 25 | $-734.2M | $31.8M | ||
| Q3 25 | $-3.3M | $29.3M | ||
| Q2 25 | $-45.8M | $26.0M | ||
| Q1 25 | $-39.0M | $31.1M | ||
| Q4 24 | $17.5M | $40.0M | ||
| Q3 24 | $-86.8M | $40.2M | ||
| Q2 24 | $-15.3M | $42.0M | ||
| Q1 24 | $39.9M | $39.4M |
毛利率CIFRIIPR
| Q4 25 | 59.4% | — | ||
| Q3 25 | 62.7% | — | ||
| Q2 25 | 64.8% | — | ||
| Q1 25 | 69.6% | — | ||
| Q4 24 | 56.9% | — | ||
| Q3 24 | 37.5% | — | ||
| Q2 24 | 61.2% | — | ||
| Q1 24 | 69.2% | — |
营业利润率CIFRIIPR
| Q4 25 | -503.4% | 47.8% | ||
| Q3 25 | -52.5% | 45.5% | ||
| Q2 25 | -103.9% | 45.9% | ||
| Q1 25 | -77.8% | 47.4% | ||
| Q4 24 | 40.5% | 54.7% | ||
| Q3 24 | -379.2% | 54.8% | ||
| Q2 24 | -43.9% | 53.1% | ||
| Q1 24 | 97.2% | 55.7% |
净利率CIFRIIPR
| Q4 25 | -1229.6% | 47.8% | ||
| Q3 25 | -4.6% | 45.3% | ||
| Q2 25 | -105.1% | 41.4% | ||
| Q1 25 | -79.6% | 43.3% | ||
| Q4 24 | 41.5% | 52.2% | ||
| Q3 24 | -359.9% | 52.6% | ||
| Q2 24 | -41.5% | 52.6% | ||
| Q1 24 | 82.9% | 52.3% |
每股收益（稀释后）CIFRIIPR
| Q4 25 | $-1.91 | $1.07 | ||
| Q3 25 | $-0.01 | $0.97 | ||
| Q2 25 | $-0.12 | $0.86 | ||
| Q1 25 | $-0.11 | $1.03 | ||
| Q4 24 | $0.04 | $1.35 | ||
| Q3 24 | $-0.26 | $1.37 | ||
| Q2 24 | $-0.05 | $1.44 | ||
| Q1 24 | $0.13 | $1.36 |
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 | $628.3M | $47.6M |
| 总债务越低越好 | $2.7B | $393.7M |
| 股东权益账面价值 | $805.5M | $1.8B |
| 总资产 | $4.3B | $2.4B |
| 负债/权益比越低杠杆越低 | 3.37× | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资CIFRIIPR
| Q4 25 | $628.3M | $47.6M | ||
| Q3 25 | $1.2B | $41.9M | ||
| Q2 25 | $62.7M | $104.9M | ||
| Q1 25 | $23.2M | $133.3M | ||
| Q4 24 | $5.6M | $151.2M | ||
| Q3 24 | $25.3M | $172.4M | ||
| Q2 24 | $122.6M | $160.9M | ||
| Q1 24 | $88.7M | $173.5M |
总债务CIFRIIPR
| Q4 25 | $2.7B | $393.7M | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $167.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CIFRIIPR
| Q4 25 | $805.5M | $1.8B | ||
| Q3 25 | $783.2M | $1.9B | ||
| Q2 25 | $748.9M | $1.9B | ||
| Q1 25 | $734.8M | $1.9B | ||
| Q4 24 | $682.0M | $1.9B | ||
| Q3 24 | $672.0M | $1.9B | ||
| Q2 24 | $690.8M | $1.9B | ||
| Q1 24 | $600.9M | $2.0B |
总资产CIFRIIPR
| Q4 25 | $4.3B | $2.4B | ||
| Q3 25 | $2.8B | $2.3B | ||
| Q2 25 | $1.0B | $2.3B | ||
| Q1 25 | $913.8M | $2.4B | ||
| Q4 24 | $855.4M | $2.4B | ||
| Q3 24 | $775.4M | $2.4B | ||
| Q2 24 | $775.6M | $2.4B | ||
| Q1 24 | $677.1M | $2.4B |
负债/权益比CIFRIIPR
| Q4 25 | 3.37× | 0.21× | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 0.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-207.9M | $198.2M |
| 自由现金流经营现金流 - 资本支出 | $-695.9M | — |
| 自由现金流率自由现金流/营收 | -1165.4% | — |
| 资本支出强度资本支出/营收 | 817.1% | — |
| 现金转化率经营现金流/净利润 | — | 6.22× |
| 过去12个月自由现金流最近4个季度 | $-1.1B | — |
8季度趋势，按日历期对齐
经营现金流CIFRIIPR
| Q4 25 | $-207.9M | $198.2M | ||
| Q3 25 | $-50.1M | $45.6M | ||
| Q2 25 | $-56.2M | $48.4M | ||
| Q1 25 | $-47.2M | $54.2M | ||
| Q4 24 | $-87.5M | $258.4M | ||
| Q3 24 | $-6.5M | $64.9M | ||
| Q2 24 | $-25.4M | $64.2M | ||
| Q1 24 | $-26.6M | $71.6M |
自由现金流CIFRIIPR
| Q4 25 | $-695.9M | — | ||
| Q3 25 | $-256.2M | — | ||
| Q2 25 | $-87.5M | — | ||
| Q1 25 | $-71.8M | — | ||
| Q4 24 | $-227.0M | — | ||
| Q3 24 | $-83.2M | — | ||
| Q2 24 | $-33.2M | — | ||
| Q1 24 | $-34.5M | — |
自由现金流率CIFRIIPR
| Q4 25 | -1165.4% | — | ||
| Q3 25 | -357.3% | — | ||
| Q2 25 | -200.9% | — | ||
| Q1 25 | -146.7% | — | ||
| Q4 24 | -537.6% | — | ||
| Q3 24 | -345.0% | — | ||
| Q2 24 | -90.2% | — | ||
| Q1 24 | -71.7% | — |
资本支出强度CIFRIIPR
| Q4 25 | 817.1% | — | ||
| Q3 25 | 287.5% | — | ||
| Q2 25 | 71.8% | — | ||
| Q1 25 | 50.2% | — | ||
| Q4 24 | 330.4% | — | ||
| Q3 24 | 317.8% | — | ||
| Q2 24 | 21.4% | — | ||
| Q1 24 | 16.4% | — |
现金转化率CIFRIIPR
| Q4 25 | — | 6.22× | ||
| Q3 25 | — | 1.56× | ||
| Q2 25 | — | 1.86× | ||
| Q1 25 | — | 1.75× | ||
| Q4 24 | -5.00× | 6.46× | ||
| Q3 24 | — | 1.61× | ||
| Q2 24 | — | 1.53× | ||
| Q1 24 | -0.67× | 1.82× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
