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Core Scientific, Inc.（CORZ）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Core Scientific, Inc.的1.6倍（$127.1M vs $79.8M），再鼎医药同比增速更快（17.1% vs -16.0%），再鼎医药自由现金流更多（$-26.7M vs $-450.8M），过去两年再鼎医药的营收复合增速更高（20.8% vs -33.3%）
Core Scientific是全球领先的数字资产与高性能计算基础设施服务商，在北美多地运营高能效大型数据中心，主营加密货币挖矿业务，同时为区块链、人工智能领域客户提供托管及定制化算力解决方案。
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。
CORZ vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.6倍
$79.8M
营收增速更快
ZLAB
高出33.1%
-16.0%
自由现金流更多
ZLAB
多$424.1M
$-450.8M
两年增速更快
ZLAB
近两年复合增速
-33.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $79.8M | $127.1M |
| 净利润 | $214.2M | — |
| 毛利率 | 26.0% | 51.0% |
| 营业利润率 | -149.5% | -54.6% |
| 净利率 | 268.5% | — |
| 营收同比 | -16.0% | 17.1% |
| 净利润同比 | 180.6% | — |
| 每股收益（稀释后） | $-1.63 | $-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CORZZLAB
| Q4 25 | $79.8M | $127.1M | ||
| Q3 25 | $81.1M | $115.4M | ||
| Q2 25 | $78.6M | $109.1M | ||
| Q1 25 | $79.5M | $105.7M | ||
| Q4 24 | $94.9M | $108.5M | ||
| Q3 24 | $95.4M | $101.8M | ||
| Q2 24 | $141.1M | $100.1M | ||
| Q1 24 | $179.3M | $87.1M |
净利润CORZZLAB
| Q4 25 | $214.2M | — | ||
| Q3 25 | $-144.0M | $-36.0M | ||
| Q2 25 | $-936.8M | $-40.7M | ||
| Q1 25 | $576.3M | $-48.4M | ||
| Q4 24 | $-265.5M | — | ||
| Q3 24 | $-455.3M | $-41.7M | ||
| Q2 24 | $-902.2M | $-80.3M | ||
| Q1 24 | $210.7M | $-53.5M |
毛利率CORZZLAB
| Q4 25 | 26.0% | 51.0% | ||
| Q3 25 | 4.8% | 59.5% | ||
| Q2 25 | 6.4% | 60.6% | ||
| Q1 25 | 10.3% | 63.6% | ||
| Q4 24 | 5.0% | 61.5% | ||
| Q3 24 | -0.2% | 64.1% | ||
| Q2 24 | 27.5% | 64.9% | ||
| Q1 24 | 43.3% | 61.4% |
营业利润率CORZZLAB
| Q4 25 | -149.5% | -54.6% | ||
| Q3 25 | -67.6% | -42.3% | ||
| Q2 25 | -33.4% | -50.3% | ||
| Q1 25 | -59.1% | -53.3% | ||
| Q4 24 | -41.9% | -62.6% | ||
| Q3 24 | -43.2% | -66.6% | ||
| Q2 24 | -64.3% | -76.0% | ||
| Q1 24 | 30.8% | -80.7% |
净利率CORZZLAB
| Q4 25 | 268.5% | — | ||
| Q3 25 | -177.6% | -31.2% | ||
| Q2 25 | -1191.4% | -37.3% | ||
| Q1 25 | 724.6% | -45.8% | ||
| Q4 24 | -279.7% | — | ||
| Q3 24 | -477.4% | -40.9% | ||
| Q2 24 | -639.4% | -80.2% | ||
| Q1 24 | 117.5% | -61.4% |
每股收益（稀释后）CORZZLAB
| Q4 25 | $-1.63 | $-0.05 | ||
| Q3 25 | $-0.45 | $-0.03 | ||
| Q2 25 | $-0.04 | $-0.04 | ||
| Q1 25 | $1.24 | $-0.04 | ||
| Q4 24 | $0.51 | $-0.09 | ||
| Q3 24 | $-1.17 | $-0.04 | ||
| Q2 24 | $-5.05 | $-0.08 | ||
| Q1 24 | $0.78 | $-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 | $311.4M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-962.7M | $715.5M |
| 总资产 | $2.3B | $1.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CORZZLAB
| Q4 25 | $311.4M | $689.6M | ||
| Q3 25 | $453.4M | $717.2M | ||
| Q2 25 | $581.3M | $732.2M | ||
| Q1 25 | $697.9M | $757.3M | ||
| Q4 24 | $836.2M | $779.7M | ||
| Q3 24 | $253.0M | $616.1M | ||
| Q2 24 | $96.1M | $630.0M | ||
| Q1 24 | $98.1M | $650.8M |
股东权益CORZZLAB
| Q4 25 | $-962.7M | $715.5M | ||
| Q3 25 | $-1.3B | $759.9M | ||
| Q2 25 | $-1.2B | $791.7M | ||
| Q1 25 | $-308.8M | $810.8M | ||
| Q4 24 | $-943.0M | $840.9M | ||
| Q3 24 | $-826.7M | $667.7M | ||
| Q2 24 | $-1.2B | $704.2M | ||
| Q1 24 | $-318.5M | $762.2M |
总资产CORZZLAB
| Q4 25 | $2.3B | $1.2B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.5B | $1.2B | ||
| Q4 24 | $1.5B | $1.2B | ||
| Q3 24 | $824.6M | $985.3M | ||
| Q2 24 | $664.2M | $987.4M | ||
| Q1 24 | $814.0M | $988.4M |
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 | $278.3M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-450.8M | $-26.7M |
| 自由现金流率自由现金流/营收 | -565.1% | -21.0% |
| 资本支出强度资本支出/营收 | 914.0% | 0.5% |
| 现金转化率经营现金流/净利润 | 1.30× | — |
| 过去12个月自由现金流最近4个季度 | $-779.8M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流CORZZLAB
| Q4 25 | $278.3M | $-26.0M | ||
| Q3 25 | $131.8M | $-32.0M | ||
| Q2 25 | $34.0M | $-31.0M | ||
| Q1 25 | $-45.0M | $-61.7M | ||
| Q4 24 | $42.9M | $-55.8M | ||
| Q3 24 | $5.7M | $-26.8M | ||
| Q2 24 | $1.2M | $-42.2M | ||
| Q1 24 | $22.2M | $-90.1M |
自由现金流CORZZLAB
| Q4 25 | $-450.8M | $-26.7M | ||
| Q3 25 | $-112.7M | $-35.0M | ||
| Q2 25 | $-87.3M | $-33.9M | ||
| Q1 25 | $-129.0M | $-63.2M | ||
| Q4 24 | $-52.1M | $-58.4M | ||
| Q3 24 | $-25.5M | $-28.2M | ||
| Q2 24 | $-1.9M | $-42.9M | ||
| Q1 24 | $-9.7M | $-91.1M |
自由现金流率CORZZLAB
| Q4 25 | -565.1% | -21.0% | ||
| Q3 25 | -139.0% | -30.4% | ||
| Q2 25 | -111.0% | -31.1% | ||
| Q1 25 | -162.2% | -59.9% | ||
| Q4 24 | -54.8% | -53.8% | ||
| Q3 24 | -26.7% | -27.7% | ||
| Q2 24 | -1.4% | -42.9% | ||
| Q1 24 | -5.4% | -104.5% |
资本支出强度CORZZLAB
| Q4 25 | 914.0% | 0.5% | ||
| Q3 25 | 301.5% | 2.6% | ||
| Q2 25 | 154.2% | 2.6% | ||
| Q1 25 | 105.6% | 1.5% | ||
| Q4 24 | 100.0% | 2.4% | ||
| Q3 24 | 32.7% | 1.3% | ||
| Q2 24 | 2.2% | 0.7% | ||
| Q1 24 | 17.8% | 1.1% |
现金转化率CORZZLAB
| Q4 25 | 1.30× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.08× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.11× | — |
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
CORZ
| Other | $36.3M | 46% |
| Digital Asset Self Mining Service | $31.8M | 40% |
| Colocation Service | $11.6M | 15% |
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% |
