vs
合众银行（CUBI）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
合众银行的季度营收约是再鼎医药的1.9倍（$236.9M vs $127.1M），合众银行同比增速更快（21.8% vs 17.1%），合众银行自由现金流更多（$481.0M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 14.2%）
合众银行是总部位于美国明尼苏达州明尼阿波利斯、在特拉华州注册的跨国银行机构，2025年位列美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为具有系统重要性。旗下核心运营主体为美国合众银行全国协会，提供银行、投资、按揭等多元金融服务。
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。
CUBI vs ZLAB — 直观对比
营收规模更大
CUBI
是对方的1.9倍
$127.1M
营收增速更快
CUBI
高出4.7%
17.1%
自由现金流更多
CUBI
多$507.7M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
14.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $236.9M | $127.1M |
| 净利润 | — | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | 41.1% | -54.6% |
| 净利率 | — | — |
| 营收同比 | 21.8% | 17.1% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $2.04 | $-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CUBIZLAB
| Q4 25 | $236.9M | $127.1M | ||
| Q3 25 | $232.1M | $115.4M | ||
| Q2 25 | $206.3M | $109.1M | ||
| Q1 25 | $143.0M | $105.7M | ||
| Q4 24 | $167.8M | $108.5M | ||
| Q3 24 | $167.1M | $101.8M | ||
| Q2 24 | $198.7M | $100.1M | ||
| Q1 24 | $181.6M | $87.1M |
净利润CUBIZLAB
| Q4 25 | — | — | ||
| Q3 25 | $75.7M | $-36.0M | ||
| Q2 25 | $60.9M | $-40.7M | ||
| Q1 25 | $12.9M | $-48.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $46.7M | $-41.7M | ||
| Q2 24 | $58.1M | $-80.3M | ||
| Q1 24 | $49.7M | $-53.5M |
毛利率CUBIZLAB
| 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CUBIZLAB
| Q4 25 | 41.1% | -54.6% | ||
| Q3 25 | 43.2% | -42.3% | ||
| Q2 25 | 38.2% | -50.3% | ||
| Q1 25 | 8.3% | -53.3% | ||
| Q4 24 | 21.4% | -62.6% | ||
| Q3 24 | 27.5% | -66.6% | ||
| Q2 24 | 38.8% | -76.0% | ||
| Q1 24 | 36.0% | -80.7% |
净利率CUBIZLAB
| Q4 25 | — | — | ||
| Q3 25 | 32.6% | -31.2% | ||
| Q2 25 | 29.5% | -37.3% | ||
| Q1 25 | 9.0% | -45.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | 28.0% | -40.9% | ||
| Q2 24 | 29.2% | -80.2% | ||
| Q1 24 | 27.4% | -61.4% |
每股收益（稀释后）CUBIZLAB
| Q4 25 | $2.04 | $-0.05 | ||
| Q3 25 | $2.20 | $-0.03 | ||
| Q2 25 | $1.73 | $-0.04 | ||
| Q1 25 | $0.29 | $-0.04 | ||
| Q4 24 | $0.72 | $-0.09 | ||
| Q3 24 | $1.31 | $-0.04 | ||
| Q2 24 | $1.66 | $-0.08 | ||
| Q1 24 | $1.40 | $-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 | $4.4B | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.1B | $715.5M |
| 总资产 | $24.9B | $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CUBIZLAB
| Q4 25 | $4.4B | $689.6M | ||
| Q3 25 | $4.2B | $717.2M | ||
| Q2 25 | $3.5B | $732.2M | ||
| Q1 25 | $3.4B | $757.3M | ||
| Q4 24 | $3.8B | $779.7M | ||
| Q3 24 | $3.1B | $616.1M | ||
| Q2 24 | $3.0B | $630.0M | ||
| Q1 24 | $3.7B | $650.8M |
股东权益CUBIZLAB
| Q4 25 | $2.1B | $715.5M | ||
| Q3 25 | $2.1B | $759.9M | ||
| Q2 25 | $1.9B | $791.7M | ||
| Q1 25 | $1.9B | $810.8M | ||
| Q4 24 | $1.8B | $840.9M | ||
| Q3 24 | $1.8B | $667.7M | ||
| Q2 24 | $1.7B | $704.2M | ||
| Q1 24 | $1.7B | $762.2M |
总资产CUBIZLAB
| Q4 25 | $24.9B | $1.2B | ||
| Q3 25 | $24.3B | $1.2B | ||
| Q2 25 | $22.6B | $1.2B | ||
| Q1 25 | $22.4B | $1.2B | ||
| Q4 24 | $22.3B | $1.2B | ||
| Q3 24 | $21.5B | $985.3M | ||
| Q2 24 | $20.9B | $987.4M | ||
| Q1 24 | $21.3B | $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 | $494.8M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $481.0M | $-26.7M |
| 自由现金流率自由现金流/营收 | 203.0% | -21.0% |
| 资本支出强度资本支出/营收 | 5.8% | 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 | $843.0M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流CUBIZLAB
| Q4 25 | $494.8M | $-26.0M | ||
| Q3 25 | $116.9M | $-32.0M | ||
| Q2 25 | $162.2M | $-31.0M | ||
| Q1 25 | $94.1M | $-61.7M | ||
| Q4 24 | $145.1M | $-55.8M | ||
| Q3 24 | $24.4M | $-26.8M | ||
| Q2 24 | $6.1M | $-42.2M | ||
| Q1 24 | $-18.8M | $-90.1M |
自由现金流CUBIZLAB
| Q4 25 | $481.0M | $-26.7M | ||
| Q3 25 | $106.4M | $-35.0M | ||
| Q2 25 | $162.1M | $-33.9M | ||
| Q1 25 | $93.4M | $-63.2M | ||
| Q4 24 | $143.6M | $-58.4M | ||
| Q3 24 | $24.1M | $-28.2M | ||
| Q2 24 | $5.8M | $-42.9M | ||
| Q1 24 | $-19.2M | $-91.1M |
自由现金流率CUBIZLAB
| Q4 25 | 203.0% | -21.0% | ||
| Q3 25 | 45.9% | -30.4% | ||
| Q2 25 | 78.6% | -31.1% | ||
| Q1 25 | 65.4% | -59.9% | ||
| Q4 24 | 85.5% | -53.8% | ||
| Q3 24 | 14.4% | -27.7% | ||
| Q2 24 | 2.9% | -42.9% | ||
| Q1 24 | -10.6% | -104.5% |
资本支出强度CUBIZLAB
| Q4 25 | 5.8% | 0.5% | ||
| Q3 25 | 4.5% | 2.6% | ||
| Q2 25 | 0.0% | 2.6% | ||
| Q1 25 | 0.5% | 1.5% | ||
| Q4 24 | 0.9% | 2.4% | ||
| Q3 24 | 0.2% | 1.3% | ||
| Q2 24 | 0.2% | 0.7% | ||
| Q1 24 | 0.2% | 1.1% |
现金转化率CUBIZLAB
| Q4 25 | — | — | ||
| Q3 25 | 1.54× | — | ||
| Q2 25 | 2.66× | — | ||
| Q1 25 | 7.29× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.52× | — | ||
| Q2 24 | 0.10× | — | ||
| Q1 24 | -0.38× | — |
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
CUBI
暂无分部数据
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% |
