vs
DULUTH HOLDINGS INC.（DLTH）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DULUTH HOLDINGS INC.的1.1倍（$127.1M vs $114.9M），再鼎医药同比增速更快（17.1% vs -9.6%），DULUTH HOLDINGS INC.自由现金流更多（$-8.9M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs -31.6%）
德卢思控股是一家美国工装及配饰企业，主打通过旗下德卢思贸易品牌开展产品销售业务，面向市场推出各类实用工装及相关配饰产品，是美国本土颇具特色的服饰零售企业。
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。
DLTH vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.1倍
$114.9M
营收增速更快
ZLAB
高出26.7%
-9.6%
自由现金流更多
DLTH
多$17.8M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
-31.6%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $114.9M | $127.1M |
| 净利润 | $-10.1M | — |
| 毛利率 | 53.8% | 51.0% |
| 营业利润率 | -7.7% | -54.6% |
| 净利率 | -8.8% | — |
| 营收同比 | -9.6% | 17.1% |
| 净利润同比 | 64.6% | — |
| 每股收益（稀释后） | $-0.29 | $-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DLTHZLAB
| Q4 25 | $114.9M | $127.1M | ||
| Q3 25 | $131.7M | $115.4M | ||
| Q2 25 | $102.7M | $109.1M | ||
| Q1 25 | $241.3M | $105.7M | ||
| Q4 24 | $127.1M | $108.5M | ||
| Q3 24 | $141.6M | $101.8M | ||
| Q2 24 | $116.7M | $100.1M | ||
| Q1 24 | $245.6M | $87.1M |
净利润DLTHZLAB
| Q4 25 | $-10.1M | — | ||
| Q3 25 | $1.3M | $-36.0M | ||
| Q2 25 | $-15.3M | $-40.7M | ||
| Q1 25 | $-5.6M | $-48.4M | ||
| Q4 24 | $-28.2M | — | ||
| Q3 24 | $-2.0M | $-41.7M | ||
| Q2 24 | $-7.9M | $-80.3M | ||
| Q1 24 | $6.4M | $-53.5M |
毛利率DLTHZLAB
| Q4 25 | 53.8% | 51.0% | ||
| Q3 25 | 54.7% | 59.5% | ||
| Q2 25 | 52.0% | 60.6% | ||
| Q1 25 | 44.1% | 63.6% | ||
| Q4 24 | 52.3% | 61.5% | ||
| Q3 24 | 52.3% | 64.1% | ||
| Q2 24 | 52.8% | 64.9% | ||
| Q1 24 | 48.2% | 61.4% |
营业利润率DLTHZLAB
| Q4 25 | -7.7% | -54.6% | ||
| Q3 25 | 1.8% | -42.3% | ||
| Q2 25 | -12.0% | -50.3% | ||
| Q1 25 | -1.8% | -53.3% | ||
| Q4 24 | -17.4% | -62.6% | ||
| Q3 24 | -1.1% | -66.6% | ||
| Q2 24 | -7.7% | -76.0% | ||
| Q1 24 | 3.6% | -80.7% |
净利率DLTHZLAB
| Q4 25 | -8.8% | — | ||
| Q3 25 | 1.0% | -31.2% | ||
| Q2 25 | -14.9% | -37.3% | ||
| Q1 25 | -2.3% | -45.8% | ||
| Q4 24 | -22.2% | — | ||
| Q3 24 | -1.4% | -40.9% | ||
| Q2 24 | -6.7% | -80.2% | ||
| Q1 24 | 2.6% | -61.4% |
每股收益（稀释后）DLTHZLAB
| Q4 25 | $-0.29 | $-0.05 | ||
| Q3 25 | $0.04 | $-0.03 | ||
| Q2 25 | $-0.45 | $-0.04 | ||
| Q1 25 | $-0.17 | $-0.04 | ||
| Q4 24 | $-0.84 | $-0.09 | ||
| Q3 24 | $-0.06 | $-0.04 | ||
| Q2 24 | $-0.24 | $-0.08 | ||
| Q1 24 | $0.20 | $-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 | $8.2M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $160.6M | $715.5M |
| 总资产 | $468.0M | $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DLTHZLAB
| Q4 25 | $8.2M | $689.6M | ||
| Q3 25 | $5.7M | $717.2M | ||
| Q2 25 | $8.6M | $732.2M | ||
| Q1 25 | $3.3M | $757.3M | ||
| Q4 24 | $9.3M | $779.7M | ||
| Q3 24 | $9.8M | $616.1M | ||
| Q2 24 | $6.8M | $630.0M | ||
| Q1 24 | $32.2M | $650.8M |
股东权益DLTHZLAB
| Q4 25 | $160.6M | $715.5M | ||
| Q3 25 | $170.0M | $759.9M | ||
| Q2 25 | $167.9M | $791.7M | ||
| Q1 25 | $182.7M | $810.8M | ||
| Q4 24 | $188.1M | $840.9M | ||
| Q3 24 | $215.7M | $667.7M | ||
| Q2 24 | $218.4M | $704.2M | ||
| Q1 24 | $222.8M | $762.2M |
总资产DLTHZLAB
| Q4 25 | $468.0M | $1.2B | ||
| Q3 25 | $433.8M | $1.2B | ||
| Q2 25 | $463.7M | $1.2B | ||
| Q1 25 | $452.4M | $1.2B | ||
| Q4 24 | $533.1M | $1.2B | ||
| Q3 24 | $488.6M | $985.3M | ||
| Q2 24 | $471.4M | $987.4M | ||
| Q1 24 | $491.2M | $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 | $-6.7M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-8.9M | $-26.7M |
| 自由现金流率自由现金流/营收 | -7.8% | -21.0% |
| 资本支出强度资本支出/营收 | 2.0% | 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 | $1.7M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流DLTHZLAB
| Q4 25 | $-6.7M | $-26.0M | ||
| Q3 25 | $32.0M | $-32.0M | ||
| Q2 25 | $-56.5M | $-31.0M | ||
| Q1 25 | $41.2M | $-61.7M | ||
| Q4 24 | $-41.1M | $-55.8M | ||
| Q3 24 | $16.6M | $-26.8M | ||
| Q2 24 | $-33.7M | $-42.2M | ||
| Q1 24 | $69.7M | $-90.1M |
自由现金流DLTHZLAB
| Q4 25 | $-8.9M | $-26.7M | ||
| Q3 25 | $29.8M | $-35.0M | ||
| Q2 25 | $-57.8M | $-33.9M | ||
| Q1 25 | $38.7M | $-63.2M | ||
| Q4 24 | $-43.7M | $-58.4M | ||
| Q3 24 | $15.0M | $-28.2M | ||
| Q2 24 | $-35.2M | $-42.9M | ||
| Q1 24 | $60.6M | $-91.1M |
自由现金流率DLTHZLAB
| Q4 25 | -7.8% | -21.0% | ||
| Q3 25 | 22.6% | -30.4% | ||
| Q2 25 | -56.3% | -31.1% | ||
| Q1 25 | 16.0% | -59.9% | ||
| Q4 24 | -34.4% | -53.8% | ||
| Q3 24 | 10.6% | -27.7% | ||
| Q2 24 | -30.2% | -42.9% | ||
| Q1 24 | 24.7% | -104.5% |
资本支出强度DLTHZLAB
| Q4 25 | 2.0% | 0.5% | ||
| Q3 25 | 1.7% | 2.6% | ||
| Q2 25 | 1.3% | 2.6% | ||
| Q1 25 | 1.0% | 1.5% | ||
| Q4 24 | 2.1% | 2.4% | ||
| Q3 24 | 1.2% | 1.3% | ||
| Q2 24 | 1.3% | 0.7% | ||
| Q1 24 | 3.7% | 1.1% |
现金转化率DLTHZLAB
| Q4 25 | — | — | ||
| Q3 25 | 25.40× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 10.86× | — |
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
DLTH
| Sales Channel Directly To Consumer | $67.4M | 59% |
| Sales Channel Through Intermediary | $47.4M | 41% |
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% |
