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DoubleVerify Holdings, Inc.（DV）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
DoubleVerify Holdings, Inc.的季度营收约是再鼎医药的1.6倍（$205.6M vs $127.1M），再鼎医药同比增速更快（17.1% vs 7.9%），DoubleVerify Holdings, Inc.自由现金流更多（$62.1M vs $-26.7M），过去两年DoubleVerify Holdings, Inc.的营收复合增速更高（20.8% vs 20.8%）
DoubleVerify Holdings是一家专注于媒体测量、分析及验证的技术服务商，核心业务为品牌安全、广告可见度、反广告欺诈等，帮助广告主、发布商及平台方优化数字广告投放效果，保障营销投入的ROI，业务覆盖全球多个市场。
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。
DV vs ZLAB — 直观对比
营收规模更大
DV
是对方的1.6倍
$127.1M
营收增速更快
ZLAB
高出9.3%
7.9%
自由现金流更多
DV
多$88.8M
$-26.7M
两年增速更快
DV
近两年复合增速
20.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $205.6M | $127.1M |
| 净利润 | $29.3M | — |
| 毛利率 | 82.5% | 51.0% |
| 营业利润率 | 18.4% | -54.6% |
| 净利率 | 14.3% | — |
| 营收同比 | 7.9% | 17.1% |
| 净利润同比 | 25.3% | — |
| 每股收益（稀释后） | $0.18 | $-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DVZLAB
| Q4 25 | $205.6M | $127.1M | ||
| Q3 25 | $188.6M | $115.4M | ||
| Q2 25 | $189.0M | $109.1M | ||
| Q1 25 | $165.1M | $105.7M | ||
| Q4 24 | $190.6M | $108.5M | ||
| Q3 24 | $169.6M | $101.8M | ||
| Q2 24 | $155.9M | $100.1M | ||
| Q1 24 | $140.8M | $87.1M |
净利润DVZLAB
| Q4 25 | $29.3M | — | ||
| Q3 25 | $10.2M | $-36.0M | ||
| Q2 25 | $8.8M | $-40.7M | ||
| Q1 25 | $2.4M | $-48.4M | ||
| Q4 24 | $23.4M | — | ||
| Q3 24 | $18.2M | $-41.7M | ||
| Q2 24 | $7.5M | $-80.3M | ||
| Q1 24 | $7.2M | $-53.5M |
毛利率DVZLAB
| Q4 25 | 82.5% | 51.0% | ||
| Q3 25 | 82.3% | 59.5% | ||
| Q2 25 | 82.5% | 60.6% | ||
| Q1 25 | 81.2% | 63.6% | ||
| Q4 24 | 82.0% | 61.5% | ||
| Q3 24 | 82.6% | 64.1% | ||
| Q2 24 | 83.3% | 64.9% | ||
| Q1 24 | 81.1% | 61.4% |
营业利润率DVZLAB
| Q4 25 | 18.4% | -54.6% | ||
| Q3 25 | 11.2% | -42.3% | ||
| Q2 25 | 7.2% | -50.3% | ||
| Q1 25 | 4.1% | -53.3% | ||
| Q4 24 | 20.3% | -62.6% | ||
| Q3 24 | 15.2% | -66.6% | ||
| Q2 24 | 7.1% | -76.0% | ||
| Q1 24 | 4.9% | -80.7% |
净利率DVZLAB
| Q4 25 | 14.3% | — | ||
| Q3 25 | 5.4% | -31.2% | ||
| Q2 25 | 4.6% | -37.3% | ||
| Q1 25 | 1.4% | -45.8% | ||
| Q4 24 | 12.3% | — | ||
| Q3 24 | 10.7% | -40.9% | ||
| Q2 24 | 4.8% | -80.2% | ||
| Q1 24 | 5.1% | -61.4% |
每股收益（稀释后）DVZLAB
| Q4 25 | $0.18 | $-0.05 | ||
| Q3 25 | $0.06 | $-0.03 | ||
| Q2 25 | $0.05 | $-0.04 | ||
| Q1 25 | $0.01 | $-0.04 | ||
| Q4 24 | $0.14 | $-0.09 | ||
| Q3 24 | $0.10 | $-0.04 | ||
| Q2 24 | $0.04 | $-0.08 | ||
| Q1 24 | $0.04 | $-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 | $259.0M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.1B | $715.5M |
| 总资产 | $1.4B | $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DVZLAB
| Q4 25 | $259.0M | $689.6M | ||
| Q3 25 | $200.7M | $717.2M | ||
| Q2 25 | $216.8M | $732.2M | ||
| Q1 25 | $174.3M | $757.3M | ||
| Q4 24 | $310.6M | $779.7M | ||
| Q3 24 | $362.6M | $616.1M | ||
| Q2 24 | $338.8M | $630.0M | ||
| Q1 24 | $334.3M | $650.8M |
股东权益DVZLAB
| Q4 25 | $1.1B | $715.5M | ||
| Q3 25 | $1.1B | $759.9M | ||
| Q2 25 | $1.1B | $791.7M | ||
| Q1 25 | $1.0B | $810.8M | ||
| Q4 24 | $1.1B | $840.9M | ||
| Q3 24 | $1.1B | $667.7M | ||
| Q2 24 | $1.1B | $704.2M | ||
| Q1 24 | $1.1B | $762.2M |
总资产DVZLAB
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.2B | $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 | $72.7M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $62.1M | $-26.7M |
| 自由现金流率自由现金流/营收 | 30.2% | -21.0% |
| 资本支出强度资本支出/营收 | 5.1% | 0.5% |
| 现金转化率经营现金流/净利润 | 2.48× | — |
| 过去12个月自由现金流最近4个季度 | $172.7M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流DVZLAB
| Q4 25 | $72.7M | $-26.0M | ||
| Q3 25 | $51.2M | $-32.0M | ||
| Q2 25 | $49.6M | $-31.0M | ||
| Q1 25 | $37.7M | $-61.7M | ||
| Q4 24 | $37.4M | $-55.8M | ||
| Q3 24 | $54.6M | $-26.8M | ||
| Q2 24 | $35.9M | $-42.2M | ||
| Q1 24 | $31.8M | $-90.1M |
自由现金流DVZLAB
| Q4 25 | $62.1M | $-26.7M | ||
| Q3 25 | $39.0M | $-35.0M | ||
| Q2 25 | $40.1M | $-33.9M | ||
| Q1 25 | $31.4M | $-63.2M | ||
| Q4 24 | $30.0M | $-58.4M | ||
| Q3 24 | $48.4M | $-28.2M | ||
| Q2 24 | $28.7M | $-42.9M | ||
| Q1 24 | $25.4M | $-91.1M |
自由现金流率DVZLAB
| Q4 25 | 30.2% | -21.0% | ||
| Q3 25 | 20.7% | -30.4% | ||
| Q2 25 | 21.2% | -31.1% | ||
| Q1 25 | 19.0% | -59.9% | ||
| Q4 24 | 15.8% | -53.8% | ||
| Q3 24 | 28.5% | -27.7% | ||
| Q2 24 | 18.4% | -42.9% | ||
| Q1 24 | 18.0% | -104.5% |
资本支出强度DVZLAB
| Q4 25 | 5.1% | 0.5% | ||
| Q3 25 | 6.4% | 2.6% | ||
| Q2 25 | 5.0% | 2.6% | ||
| Q1 25 | 3.8% | 1.5% | ||
| Q4 24 | 3.9% | 2.4% | ||
| Q3 24 | 3.7% | 1.3% | ||
| Q2 24 | 4.6% | 0.7% | ||
| Q1 24 | 4.5% | 1.1% |
现金转化率DVZLAB
| Q4 25 | 2.48× | — | ||
| Q3 25 | 5.02× | — | ||
| Q2 25 | 5.66× | — | ||
| Q1 25 | 15.95× | — | ||
| Q4 24 | 1.60× | — | ||
| Q3 24 | 3.00× | — | ||
| Q2 24 | 4.80× | — | ||
| Q1 24 | 4.44× | — |
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
DV
| Activation | $116.5M | 57% |
| Measurement | $69.6M | 34% |
| Supply Side | $19.5M | 9% |
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% |
