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布鲁姆能源（CLNE）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
再鼎医药的季度营收约是布鲁姆能源的1.1倍（$127.1M vs $112.3M），再鼎医药同比增速更快（17.1% vs 2.7%），布鲁姆能源自由现金流更多（$6.5M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 4.1%）
布鲁姆能源是一家美国上市企业，设计并制造固体氧化物燃料电池，该产品可在数据中心、制造业及其他商业领域的场所内独立发电。公司成立于2001年，总部位于加利福尼亚州圣何塞，其技术依靠化学转化过程发电，无需依赖传统燃烧，可使用天然气、沼气或氢气作为燃料。
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。
CLNE vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.1倍
$112.3M
营收增速更快
ZLAB
高出14.4%
2.7%
自由现金流更多
CLNE
多$33.2M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
4.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $112.3M | $127.1M |
| 净利润 | $-43.0M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | -9.5% | -54.6% |
| 净利率 | -38.3% | — |
| 营收同比 | 2.7% | 17.1% |
| 净利润同比 | -42.6% | — |
| 每股收益（稀释后） | $-0.21 | $-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CLNEZLAB
| Q4 25 | $112.3M | $127.1M | ||
| Q3 25 | $106.1M | $115.4M | ||
| Q2 25 | $102.6M | $109.1M | ||
| Q1 25 | $103.8M | $105.7M | ||
| Q4 24 | $109.3M | $108.5M | ||
| Q3 24 | $104.9M | $101.8M | ||
| Q2 24 | $98.0M | $100.1M | ||
| Q1 24 | $103.7M | $87.1M |
净利润CLNEZLAB
| Q4 25 | $-43.0M | — | ||
| Q3 25 | $-23.8M | $-36.0M | ||
| Q2 25 | $-20.2M | $-40.7M | ||
| Q1 25 | $-135.0M | $-48.4M | ||
| Q4 24 | $-30.2M | — | ||
| Q3 24 | $-18.2M | $-41.7M | ||
| Q2 24 | $-16.3M | $-80.3M | ||
| Q1 24 | $-18.4M | $-53.5M |
毛利率CLNEZLAB
| 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CLNEZLAB
| Q4 25 | -9.5% | -54.6% | ||
| Q3 25 | -12.8% | -42.3% | ||
| Q2 25 | -9.0% | -50.3% | ||
| Q1 25 | -121.7% | -53.3% | ||
| Q4 24 | -11.8% | -62.6% | ||
| Q3 24 | -8.1% | -66.6% | ||
| Q2 24 | -5.7% | -76.0% | ||
| Q1 24 | -9.0% | -80.7% |
净利率CLNEZLAB
| Q4 25 | -38.3% | — | ||
| Q3 25 | -22.4% | -31.2% | ||
| Q2 25 | -19.7% | -37.3% | ||
| Q1 25 | -130.1% | -45.8% | ||
| Q4 24 | -27.6% | — | ||
| Q3 24 | -17.3% | -40.9% | ||
| Q2 24 | -16.6% | -80.2% | ||
| Q1 24 | -17.8% | -61.4% |
每股收益（稀释后）CLNEZLAB
| Q4 25 | $-0.21 | $-0.05 | ||
| Q3 25 | $-0.11 | $-0.03 | ||
| Q2 25 | $-0.09 | $-0.04 | ||
| Q1 25 | $-0.60 | $-0.04 | ||
| Q4 24 | $-0.14 | $-0.09 | ||
| Q3 24 | $-0.08 | $-0.04 | ||
| Q2 24 | $-0.07 | $-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 | $156.1M | $689.6M |
| 总债务越低越好 | $226.8M | — |
| 股东权益账面价值 | $559.4M | $715.5M |
| 总资产 | $1.1B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.41× | — |
8季度趋势，按日历期对齐
现金及短期投资CLNEZLAB
| Q4 25 | $156.1M | $689.6M | ||
| Q3 25 | $232.2M | $717.2M | ||
| Q2 25 | $240.8M | $732.2M | ||
| Q1 25 | $226.6M | $757.3M | ||
| Q4 24 | $217.5M | $779.7M | ||
| Q3 24 | $243.5M | $616.1M | ||
| Q2 24 | $249.3M | $630.0M | ||
| Q1 24 | $248.9M | $650.8M |
总债务CLNEZLAB
| Q4 25 | $226.8M | — | ||
| Q3 25 | $284.3M | — | ||
| Q2 25 | $277.9M | — | ||
| Q1 25 | $271.6M | — | ||
| Q4 24 | $265.4M | — | ||
| Q3 24 | $264.1M | — | ||
| Q2 24 | $263.0M | — | ||
| Q1 24 | $262.0M | — |
股东权益CLNEZLAB
| Q4 25 | $559.4M | $715.5M | ||
| Q3 25 | $585.2M | $759.9M | ||
| Q2 25 | $590.8M | $791.7M | ||
| Q1 25 | $596.7M | $810.8M | ||
| Q4 24 | $713.3M | $840.9M | ||
| Q3 24 | $724.8M | $667.7M | ||
| Q2 24 | $723.0M | $704.2M | ||
| Q1 24 | $722.9M | $762.2M |
总资产CLNEZLAB
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.1B | $1.2B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.2B | $985.3M | ||
| Q2 24 | $1.2B | $987.4M | ||
| Q1 24 | $1.2B | $988.4M |
负债/权益比CLNEZLAB
| Q4 25 | 0.41× | — | ||
| Q3 25 | 0.49× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 0.37× | — | ||
| Q3 24 | 0.36× | — | ||
| Q2 24 | 0.36× | — | ||
| Q1 24 | 0.36× | — |
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 | $13.1M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $6.5M | $-26.7M |
| 自由现金流率自由现金流/营收 | 5.8% | -21.0% |
| 资本支出强度资本支出/营收 | 5.9% | 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 | $59.9M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流CLNEZLAB
| Q4 25 | $13.1M | $-26.0M | ||
| Q3 25 | $13.1M | $-32.0M | ||
| Q2 25 | $35.9M | $-31.0M | ||
| Q1 25 | $23.4M | $-61.7M | ||
| Q4 24 | $21.9M | $-55.8M | ||
| Q3 24 | $21.4M | $-26.8M | ||
| Q2 24 | $18.8M | $-42.2M | ||
| Q1 24 | $2.6M | $-90.1M |
自由现金流CLNEZLAB
| Q4 25 | $6.5M | $-26.7M | ||
| Q3 25 | $6.5M | $-35.0M | ||
| Q2 25 | $30.9M | $-33.9M | ||
| Q1 25 | $15.9M | $-63.2M | ||
| Q4 24 | $10.3M | $-58.4M | ||
| Q3 24 | $42.0K | $-28.2M | ||
| Q2 24 | $4.8M | $-42.9M | ||
| Q1 24 | $-15.6M | $-91.1M |
自由现金流率CLNEZLAB
| Q4 25 | 5.8% | -21.0% | ||
| Q3 25 | 6.1% | -30.4% | ||
| Q2 25 | 30.2% | -31.1% | ||
| Q1 25 | 15.4% | -59.9% | ||
| Q4 24 | 9.5% | -53.8% | ||
| Q3 24 | 0.0% | -27.7% | ||
| Q2 24 | 4.9% | -42.9% | ||
| Q1 24 | -15.1% | -104.5% |
资本支出强度CLNEZLAB
| Q4 25 | 5.9% | 0.5% | ||
| Q3 25 | 6.2% | 2.6% | ||
| Q2 25 | 4.8% | 2.6% | ||
| Q1 25 | 7.2% | 1.5% | ||
| Q4 24 | 10.5% | 2.4% | ||
| Q3 24 | 20.3% | 1.3% | ||
| Q2 24 | 14.2% | 0.7% | ||
| Q1 24 | 17.6% | 1.1% |
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
CLNE
| Volume Related Fuel Sales | $73.6M | 66% |
| Services | $15.1M | 13% |
| Station Construction Sales | $10.7M | 9% |
| Volume Related Renewable Identification Number Credits | $9.5M | 8% |
| Volume Related Low Carbon Fuel Standard Credits | $3.4M | 3% |
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% |
