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威伯科（CVGI）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
威伯科的季度营收约是再鼎医药的1.2倍（$154.8M vs $127.1M），再鼎医药同比增速更快（17.1% vs -5.2%），威伯科自由现金流更多（$8.7M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -10.8%）
威伯科控股曾是总部位于美国的重型商用车零部件供应商，主打电子制动、稳定性控制、悬挂及传动自动化系统，产品广泛应用于卡车、巴士、挂车以及非道路作业车辆等各类商用车领域，是商用车行业重要的零部件提供商。
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。
CVGI vs ZLAB — 直观对比
营收规模更大
CVGI
是对方的1.2倍
$127.1M
营收增速更快
ZLAB
高出22.3%
-5.2%
自由现金流更多
CVGI
多$35.4M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-10.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $154.8M | $127.1M |
| 净利润 | — | — |
| 毛利率 | 9.7% | 51.0% |
| 营业利润率 | -1.2% | -54.6% |
| 净利率 | — | — |
| 营收同比 | -5.2% | 17.1% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | — | $-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CVGIZLAB
| Q4 25 | $154.8M | $127.1M | ||
| Q3 25 | $152.5M | $115.4M | ||
| Q2 25 | $172.0M | $109.1M | ||
| Q1 25 | $169.8M | $105.7M | ||
| Q4 24 | $163.3M | $108.5M | ||
| Q3 24 | $171.8M | $101.8M | ||
| Q2 24 | $193.7M | $100.1M | ||
| Q1 24 | $194.6M | $87.1M |
净利润CVGIZLAB
| Q4 25 | — | — | ||
| Q3 25 | $-7.1M | $-36.0M | ||
| Q2 25 | $-4.8M | $-40.7M | ||
| Q1 25 | $-4.3M | $-48.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $9.5M | $-41.7M | ||
| Q2 24 | $-1.6M | $-80.3M | ||
| Q1 24 | $2.9M | $-53.5M |
毛利率CVGIZLAB
| Q4 25 | 9.7% | 51.0% | ||
| Q3 25 | 10.5% | 59.5% | ||
| Q2 25 | 11.4% | 60.6% | ||
| Q1 25 | 10.5% | 63.6% | ||
| Q4 24 | 8.0% | 61.5% | ||
| Q3 24 | 9.6% | 64.1% | ||
| Q2 24 | 10.6% | 64.9% | ||
| Q1 24 | 11.9% | 61.4% |
营业利润率CVGIZLAB
| Q4 25 | -1.2% | -54.6% | ||
| Q3 25 | -0.7% | -42.3% | ||
| Q2 25 | 0.5% | -50.3% | ||
| Q1 25 | 0.8% | -53.3% | ||
| Q4 24 | -3.2% | -62.6% | ||
| Q3 24 | -0.6% | -66.6% | ||
| Q2 24 | 0.5% | -76.0% | ||
| Q1 24 | 2.3% | -80.7% |
净利率CVGIZLAB
| Q4 25 | — | — | ||
| Q3 25 | -4.6% | -31.2% | ||
| Q2 25 | -2.8% | -37.3% | ||
| Q1 25 | -2.5% | -45.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.5% | -40.9% | ||
| Q2 24 | -0.8% | -80.2% | ||
| Q1 24 | 1.5% | -61.4% |
每股收益（稀释后）CVGIZLAB
| Q4 25 | — | $-0.05 | ||
| Q3 25 | — | $-0.03 | ||
| Q2 25 | — | $-0.04 | ||
| Q1 25 | — | $-0.04 | ||
| Q4 24 | — | $-0.09 | ||
| Q3 24 | — | $-0.04 | ||
| Q2 24 | $-0.05 | $-0.08 | ||
| Q1 24 | $0.09 | $-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 | — | $689.6M |
| 总债务越低越好 | $104.9M | — |
| 股东权益账面价值 | $133.4M | $715.5M |
| 总资产 | $391.7M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.79× | — |
8季度趋势，按日历期对齐
现金及短期投资CVGIZLAB
| Q4 25 | — | $689.6M | ||
| Q3 25 | — | $717.2M | ||
| Q2 25 | — | $732.2M | ||
| Q1 25 | — | $757.3M | ||
| Q4 24 | — | $779.7M | ||
| Q3 24 | — | $616.1M | ||
| Q2 24 | — | $630.0M | ||
| Q1 24 | — | $650.8M |
总债务CVGIZLAB
| Q4 25 | $104.9M | — | ||
| Q3 25 | $108.2M | — | ||
| Q2 25 | $118.2M | — | ||
| Q1 25 | $117.4M | — | ||
| Q4 24 | $135.5M | — | ||
| Q3 24 | $128.8M | — | ||
| Q2 24 | $142.0M | — | ||
| Q1 24 | $155.7M | — |
股东权益CVGIZLAB
| Q4 25 | $133.4M | $715.5M | ||
| Q3 25 | $136.5M | $759.9M | ||
| Q2 25 | $142.6M | $791.7M | ||
| Q1 25 | $136.7M | $810.8M | ||
| Q4 24 | $135.6M | $840.9M | ||
| Q3 24 | $179.3M | $667.7M | ||
| Q2 24 | $169.6M | $704.2M | ||
| Q1 24 | $175.5M | $762.2M |
总资产CVGIZLAB
| Q4 25 | $391.7M | $1.2B | ||
| Q3 25 | $400.3M | $1.2B | ||
| Q2 25 | $429.8M | $1.2B | ||
| Q1 25 | $419.8M | $1.2B | ||
| Q4 24 | $424.6M | $1.2B | ||
| Q3 24 | $495.3M | $985.3M | ||
| Q2 24 | $503.2M | $987.4M | ||
| Q1 24 | $509.2M | $988.4M |
负债/权益比CVGIZLAB
| Q4 25 | 0.79× | — | ||
| Q3 25 | 0.79× | — | ||
| Q2 25 | 0.83× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 1.00× | — | ||
| Q3 24 | 0.72× | — | ||
| Q2 24 | 0.84× | — | ||
| Q1 24 | 0.89× | — |
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 | $12.3M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $8.7M | $-26.7M |
| 自由现金流率自由现金流/营收 | 5.6% | -21.0% |
| 资本支出强度资本支出/营收 | 2.3% | 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 | $34.0M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流CVGIZLAB
| Q4 25 | $12.3M | $-26.0M | ||
| Q3 25 | $-1.7M | $-32.0M | ||
| Q2 25 | $18.9M | $-31.0M | ||
| Q1 25 | $15.2M | $-61.7M | ||
| Q4 24 | $-26.6M | $-55.8M | ||
| Q3 24 | $-17.1M | $-26.8M | ||
| Q2 24 | $12.6M | $-42.2M | ||
| Q1 24 | $-2.4M | $-90.1M |
自由现金流CVGIZLAB
| Q4 25 | $8.7M | $-26.7M | ||
| Q3 25 | $-3.5M | $-35.0M | ||
| Q2 25 | $17.4M | $-33.9M | ||
| Q1 25 | $11.4M | $-63.2M | ||
| Q4 24 | $-30.6M | $-58.4M | ||
| Q3 24 | $-20.3M | $-28.2M | ||
| Q2 24 | $6.4M | $-42.9M | ||
| Q1 24 | $-7.4M | $-91.1M |
自由现金流率CVGIZLAB
| Q4 25 | 5.6% | -21.0% | ||
| Q3 25 | -2.3% | -30.4% | ||
| Q2 25 | 10.1% | -31.1% | ||
| Q1 25 | 6.7% | -59.9% | ||
| Q4 24 | -18.7% | -53.8% | ||
| Q3 24 | -11.8% | -27.7% | ||
| Q2 24 | 3.3% | -42.9% | ||
| Q1 24 | -3.8% | -104.5% |
资本支出强度CVGIZLAB
| Q4 25 | 2.3% | 0.5% | ||
| Q3 25 | 1.2% | 2.6% | ||
| Q2 25 | 0.9% | 2.6% | ||
| Q1 25 | 2.2% | 1.5% | ||
| Q4 24 | 2.4% | 2.4% | ||
| Q3 24 | 1.9% | 1.3% | ||
| Q2 24 | 3.2% | 0.7% | ||
| Q1 24 | 2.6% | 1.1% |
现金转化率CVGIZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -1.79× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.80× | — |
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
CVGI
| Global Seating | $70.7M | 46% |
| Global Electrical Systems | $49.7M | 32% |
| Trim Systems And Components | $34.4M | 22% |
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% |
