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CARRIAGE SERVICES INC（CSV）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CARRIAGE SERVICES INC的1.2倍（$127.1M vs $105.5M），再鼎医药同比增速更快（17.1% vs 8.0%），CARRIAGE SERVICES INC自由现金流更多（$6.2M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 1.0%）
怡和Cycle & Carriage有限公司是怡和集团在东南亚的投资控股公司，目前该集团持有其75%的股份，是怡和集团在东南亚区域开展资本布局与投资业务的核心平台。
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。
CSV vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.2倍
$105.5M
营收增速更快
ZLAB
高出9.2%
8.0%
自由现金流更多
CSV
多$32.9M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $105.5M | $127.1M |
| 净利润 | $12.3M | — |
| 毛利率 | 34.8% | 51.0% |
| 营业利润率 | 23.3% | -54.6% |
| 净利率 | 11.6% | — |
| 营收同比 | 8.0% | 17.1% |
| 净利润同比 | 24.5% | — |
| 每股收益（稀释后） | $0.76 | $-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CSVZLAB
| Q4 25 | $105.5M | $127.1M | ||
| Q3 25 | $102.7M | $115.4M | ||
| Q2 25 | $102.1M | $109.1M | ||
| Q1 25 | $107.1M | $105.7M | ||
| Q4 24 | $97.7M | $108.5M | ||
| Q3 24 | $100.7M | $101.8M | ||
| Q2 24 | $102.3M | $100.1M | ||
| Q1 24 | $103.5M | $87.1M |
净利润CSVZLAB
| Q4 25 | $12.3M | — | ||
| Q3 25 | $6.6M | $-36.0M | ||
| Q2 25 | $11.7M | $-40.7M | ||
| Q1 25 | $20.9M | $-48.4M | ||
| Q4 24 | $9.9M | — | ||
| Q3 24 | $9.9M | $-41.7M | ||
| Q2 24 | $6.3M | $-80.3M | ||
| Q1 24 | $7.0M | $-53.5M |
毛利率CSVZLAB
| Q4 25 | 34.8% | 51.0% | ||
| Q3 25 | 35.3% | 59.5% | ||
| Q2 25 | 35.2% | 60.6% | ||
| Q1 25 | 35.3% | 63.6% | ||
| Q4 24 | 34.4% | 61.5% | ||
| Q3 24 | 35.2% | 64.1% | ||
| Q2 24 | 36.2% | 64.9% | ||
| Q1 24 | 36.0% | 61.4% |
营业利润率CSVZLAB
| Q4 25 | 23.3% | -54.6% | ||
| Q3 25 | 17.0% | -42.3% | ||
| Q2 25 | 23.5% | -50.3% | ||
| Q1 25 | 29.5% | -53.3% | ||
| Q4 24 | 21.6% | -62.6% | ||
| Q3 24 | 22.7% | -66.6% | ||
| Q2 24 | 18.0% | -76.0% | ||
| Q1 24 | 18.8% | -80.7% |
净利率CSVZLAB
| Q4 25 | 11.6% | — | ||
| Q3 25 | 6.4% | -31.2% | ||
| Q2 25 | 11.5% | -37.3% | ||
| Q1 25 | 19.5% | -45.8% | ||
| Q4 24 | 10.1% | — | ||
| Q3 24 | 9.8% | -40.9% | ||
| Q2 24 | 6.1% | -80.2% | ||
| Q1 24 | 6.7% | -61.4% |
每股收益（稀释后）CSVZLAB
| Q4 25 | $0.76 | $-0.05 | ||
| Q3 25 | $0.41 | $-0.03 | ||
| Q2 25 | $0.74 | $-0.04 | ||
| Q1 25 | $1.34 | $-0.04 | ||
| Q4 24 | $0.62 | $-0.09 | ||
| Q3 24 | $0.63 | $-0.04 | ||
| Q2 24 | $0.40 | $-0.08 | ||
| Q1 24 | $0.45 | $-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 | $1.7M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $254.8M | $715.5M |
| 总资产 | $1.3B | $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CSVZLAB
| Q4 25 | $1.7M | $689.6M | ||
| Q3 25 | $1.2M | $717.2M | ||
| Q2 25 | $1.4M | $732.2M | ||
| Q1 25 | $4.6M | $757.3M | ||
| Q4 24 | $1.2M | $779.7M | ||
| Q3 24 | $1.3M | $616.1M | ||
| Q2 24 | $1.5M | $630.0M | ||
| Q1 24 | $1.7M | $650.8M |
股东权益CSVZLAB
| Q4 25 | $254.8M | $715.5M | ||
| Q3 25 | $242.1M | $759.9M | ||
| Q2 25 | $235.4M | $791.7M | ||
| Q1 25 | $223.1M | $810.8M | ||
| Q4 24 | $208.6M | $840.9M | ||
| Q3 24 | $198.1M | $667.7M | ||
| Q2 24 | $187.9M | $704.2M | ||
| Q1 24 | $179.6M | $762.2M |
总资产CSVZLAB
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.3B | $985.3M | ||
| Q2 24 | $1.3B | $987.4M | ||
| Q1 24 | $1.3B | $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 | $14.1M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $6.2M | $-26.7M |
| 自由现金流率自由现金流/营收 | 5.9% | -21.0% |
| 资本支出强度资本支出/营收 | 7.5% | 0.5% |
| 现金转化率经营现金流/净利润 | 1.15× | — |
| 过去12个月自由现金流最近4个季度 | $40.1M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流CSVZLAB
| Q4 25 | $14.1M | $-26.0M | ||
| Q3 25 | $24.7M | $-32.0M | ||
| Q2 25 | $8.1M | $-31.0M | ||
| Q1 25 | $13.8M | $-61.7M | ||
| Q4 24 | $9.3M | $-55.8M | ||
| Q3 24 | $20.9M | $-26.8M | ||
| Q2 24 | $2.2M | $-42.2M | ||
| Q1 24 | $19.7M | $-90.1M |
自由现金流CSVZLAB
| Q4 25 | $6.2M | $-26.7M | ||
| Q3 25 | $18.0M | $-35.0M | ||
| Q2 25 | $5.2M | $-33.9M | ||
| Q1 25 | $10.6M | $-63.2M | ||
| Q4 24 | $4.9M | $-58.4M | ||
| Q3 24 | $16.2M | $-28.2M | ||
| Q2 24 | $-1.4M | $-42.9M | ||
| Q1 24 | $16.2M | $-91.1M |
自由现金流率CSVZLAB
| Q4 25 | 5.9% | -21.0% | ||
| Q3 25 | 17.5% | -30.4% | ||
| Q2 25 | 5.1% | -31.1% | ||
| Q1 25 | 9.9% | -59.9% | ||
| Q4 24 | 5.0% | -53.8% | ||
| Q3 24 | 16.1% | -27.7% | ||
| Q2 24 | -1.4% | -42.9% | ||
| Q1 24 | 15.6% | -104.5% |
资本支出强度CSVZLAB
| Q4 25 | 7.5% | 0.5% | ||
| Q3 25 | 6.5% | 2.6% | ||
| Q2 25 | 2.8% | 2.6% | ||
| Q1 25 | 3.0% | 1.5% | ||
| Q4 24 | 4.5% | 2.4% | ||
| Q3 24 | 4.6% | 1.3% | ||
| Q2 24 | 3.5% | 0.7% | ||
| Q1 24 | 3.4% | 1.1% |
现金转化率CSVZLAB
| Q4 25 | 1.15× | — | ||
| Q3 25 | 3.76× | — | ||
| Q2 25 | 0.69× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.94× | — | ||
| Q3 24 | 2.11× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 24 | 2.83× | — |
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
CSV
| Propertyand Merchandise | $47.8M | 45% |
| Cemetery Interment Rights | $24.8M | 23% |
| Merchandise | $18.9M | 18% |
| Other Revenue | $10.2M | 10% |
| Other | $3.9M | 4% |
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% |
