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Cipher Mining Inc.（CIFR）与PUMA BIOTECHNOLOGY, INC.（PBYI）财务数据对比。点击上方公司名可切换其他公司
PUMA BIOTECHNOLOGY, INC.的季度营收约是Cipher Mining Inc.的1.3倍（$75.5M vs $59.7M），Cipher Mining Inc.同比增速更快（41.4% vs 27.7%），PUMA BIOTECHNOLOGY, INC.自由现金流更多（$14.4M vs $-695.9M），过去两年PUMA BIOTECHNOLOGY, INC.的营收复合增速更高（31.3% vs 11.4%）
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。
彪马生物技术是一家公开上市的生物制药企业，总部位于美国加利福尼亚州洛杉矶，专注于创新药物研发相关业务，在生物制药领域开展研发与商业化运营。
CIFR vs PBYI — 直观对比
营收规模更大
PBYI
是对方的1.3倍
$59.7M
营收增速更快
CIFR
高出13.7%
27.7%
自由现金流更多
PBYI
多$710.2M
$-695.9M
两年增速更快
PBYI
近两年复合增速
11.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $59.7M | $75.5M |
| 净利润 | $-734.2M | — |
| 毛利率 | 59.4% | 69.3% |
| 营业利润率 | -503.4% | 22.7% |
| 净利率 | -1229.6% | — |
| 营收同比 | 41.4% | 27.7% |
| 净利润同比 | -4293.1% | — |
| 每股收益（稀释后） | $-1.91 | $0.26 |
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CIFRPBYI
| Q4 25 | $59.7M | $75.5M | ||
| Q3 25 | $71.7M | $54.5M | ||
| Q2 25 | $43.6M | $52.4M | ||
| Q1 25 | $49.0M | $46.0M | ||
| Q4 24 | $42.2M | $59.1M | ||
| Q3 24 | $24.1M | $80.5M | ||
| Q2 24 | $36.8M | $47.1M | ||
| Q1 24 | $48.1M | $43.8M |
净利润CIFRPBYI
| Q4 25 | $-734.2M | — | ||
| Q3 25 | $-3.3M | $8.8M | ||
| Q2 25 | $-45.8M | $5.9M | ||
| Q1 25 | $-39.0M | $3.0M | ||
| Q4 24 | $17.5M | — | ||
| Q3 24 | $-86.8M | $20.3M | ||
| Q2 24 | $-15.3M | $-4.5M | ||
| Q1 24 | $39.9M | $-4.8M |
毛利率CIFRPBYI
| Q4 25 | 59.4% | 69.3% | ||
| Q3 25 | 62.7% | 77.7% | ||
| Q2 25 | 64.8% | 76.5% | ||
| Q1 25 | 69.6% | 77.1% | ||
| Q4 24 | 56.9% | 76.4% | ||
| Q3 24 | 37.5% | 63.9% | ||
| Q2 24 | 61.2% | 77.4% | ||
| Q1 24 | 69.2% | 75.5% |
营业利润率CIFRPBYI
| Q4 25 | -503.4% | 22.7% | ||
| Q3 25 | -52.5% | 17.6% | ||
| Q2 25 | -103.9% | 12.7% | ||
| Q1 25 | -77.8% | 8.7% | ||
| Q4 24 | 40.5% | 22.6% | ||
| Q3 24 | -379.2% | 27.4% | ||
| Q2 24 | -43.9% | -4.6% | ||
| Q1 24 | 97.2% | -5.3% |
净利率CIFRPBYI
| Q4 25 | -1229.6% | — | ||
| Q3 25 | -4.6% | 16.2% | ||
| Q2 25 | -105.1% | 11.2% | ||
| Q1 25 | -79.6% | 6.5% | ||
| Q4 24 | 41.5% | — | ||
| Q3 24 | -359.9% | 25.2% | ||
| Q2 24 | -41.5% | -9.6% | ||
| Q1 24 | 82.9% | -11.0% |
每股收益（稀释后）CIFRPBYI
| Q4 25 | $-1.91 | $0.26 | ||
| Q3 25 | $-0.01 | $0.17 | ||
| Q2 25 | $-0.12 | $0.12 | ||
| Q1 25 | $-0.11 | $0.06 | ||
| Q4 24 | $0.04 | $0.40 | ||
| Q3 24 | $-0.26 | $0.41 | ||
| Q2 24 | $-0.05 | $-0.09 | ||
| Q1 24 | $0.13 | $-0.10 |
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 | $97.5M |
| 总债务越低越好 | $2.7B | $22.7M |
| 股东权益账面价值 | $805.5M | $130.3M |
| 总资产 | $4.3B | $216.3M |
| 负债/权益比越低杠杆越低 | 3.37× | 0.17× |
8季度趋势，按日历期对齐
现金及短期投资CIFRPBYI
| Q4 25 | $628.3M | $97.5M | ||
| Q3 25 | $1.2B | $94.4M | ||
| Q2 25 | $62.7M | $96.0M | ||
| Q1 25 | $23.2M | $93.2M | ||
| Q4 24 | $5.6M | $101.0M | ||
| Q3 24 | $25.3M | $96.7M | ||
| Q2 24 | $122.6M | $96.8M | ||
| Q1 24 | $88.7M | $107.2M |
总债务CIFRPBYI
| Q4 25 | $2.7B | $22.7M | ||
| Q3 25 | $1.0B | $34.0M | ||
| Q2 25 | $167.1M | $45.3M | ||
| Q1 25 | — | $56.7M | ||
| Q4 24 | $0 | $68.0M | ||
| Q3 24 | — | $79.3M | ||
| Q2 24 | — | $90.7M | ||
| Q1 24 | — | $102.0M |
股东权益CIFRPBYI
| Q4 25 | $805.5M | $130.3M | ||
| Q3 25 | $783.2M | $115.3M | ||
| Q2 25 | $748.9M | $104.7M | ||
| Q1 25 | $734.8M | $97.1M | ||
| Q4 24 | $682.0M | $92.1M | ||
| Q3 24 | $672.0M | $71.1M | ||
| Q2 24 | $690.8M | $48.5M | ||
| Q1 24 | $600.9M | $51.0M |
总资产CIFRPBYI
| Q4 25 | $4.3B | $216.3M | ||
| Q3 25 | $2.8B | $202.9M | ||
| Q2 25 | $1.0B | $194.9M | ||
| Q1 25 | $913.8M | $196.2M | ||
| Q4 24 | $855.4M | $213.3M | ||
| Q3 24 | $775.4M | $220.7M | ||
| Q2 24 | $775.6M | $205.0M | ||
| Q1 24 | $677.1M | $214.1M |
负债/权益比CIFRPBYI
| Q4 25 | 3.37× | 0.17× | ||
| Q3 25 | 1.31× | 0.30× | ||
| Q2 25 | 0.22× | 0.43× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | 0.00× | 0.74× | ||
| Q3 24 | — | 1.12× | ||
| Q2 24 | — | 1.87× | ||
| Q1 24 | — | 2.00× |
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 | $14.4M |
| 自由现金流经营现金流 - 资本支出 | $-695.9M | $14.4M |
| 自由现金流率自由现金流/营收 | -1165.4% | 19.1% |
| 资本支出强度资本支出/营收 | 817.1% | 0.0% |
| 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 | $-1.1B | $41.7M |
8季度趋势，按日历期对齐
经营现金流CIFRPBYI
| Q4 25 | $-207.9M | $14.4M | ||
| Q3 25 | $-50.1M | $9.7M | ||
| Q2 25 | $-56.2M | $14.1M | ||
| Q1 25 | $-47.2M | $3.6M | ||
| Q4 24 | $-87.5M | $15.6M | ||
| Q3 24 | $-6.5M | $11.0M | ||
| Q2 24 | $-25.4M | $1.0M | ||
| Q1 24 | $-26.6M | $11.2M |
自由现金流CIFRPBYI
| Q4 25 | $-695.9M | $14.4M | ||
| Q3 25 | $-256.2M | $9.7M | ||
| Q2 25 | $-87.5M | $14.1M | ||
| Q1 25 | $-71.8M | $3.6M | ||
| Q4 24 | $-227.0M | $15.6M | ||
| Q3 24 | $-83.2M | $11.0M | ||
| Q2 24 | $-33.2M | $1.0M | ||
| Q1 24 | $-34.5M | — |
自由现金流率CIFRPBYI
| Q4 25 | -1165.4% | 19.1% | ||
| Q3 25 | -357.3% | 17.7% | ||
| Q2 25 | -200.9% | 26.8% | ||
| Q1 25 | -146.7% | 7.7% | ||
| Q4 24 | -537.6% | 26.4% | ||
| Q3 24 | -345.0% | 13.7% | ||
| Q2 24 | -90.2% | 2.1% | ||
| Q1 24 | -71.7% | — |
资本支出强度CIFRPBYI
| Q4 25 | 817.1% | 0.0% | ||
| Q3 25 | 287.5% | 0.0% | ||
| Q2 25 | 71.8% | 0.0% | ||
| Q1 25 | 50.2% | 0.1% | ||
| Q4 24 | 330.4% | 0.0% | ||
| Q3 24 | 317.8% | 0.0% | ||
| Q2 24 | 21.4% | 0.0% | ||
| Q1 24 | 16.4% | 0.0% |
现金转化率CIFRPBYI
| Q4 25 | — | — | ||
| Q3 25 | — | 1.10× | ||
| Q2 25 | — | 2.41× | ||
| Q1 25 | — | 1.21× | ||
| Q4 24 | -5.00× | — | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.67× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
