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DYNAVAX TECHNOLOGIES CORP（DVAX）与LINCOLN EDUCATIONAL SERVICES CORP（LINC）财务数据对比。点击上方公司名可切换其他公司
LINCOLN EDUCATIONAL SERVICES CORP的季度营收约是DYNAVAX TECHNOLOGIES CORP的1.5倍（$142.9M vs $94.9M），DYNAVAX TECHNOLOGIES CORP净利率更高（28.4% vs 8.9%，领先19.5%），LINCOLN EDUCATIONAL SERVICES CORP同比增速更快（19.7% vs 17.7%），DYNAVAX TECHNOLOGIES CORP自由现金流更多（$32.6M vs $25.0M），过去两年DYNAVAX TECHNOLOGIES CORP的营收复合增速更高（30.6% vs 17.6%）
Dynavax Technologies Corp是一家处于商业化阶段的生物制药企业，专注于研发和生产针对传染病的创新疫苗及免疫疗法，核心上市产品为成人乙肝疫苗Heplisav-B，主要市场覆盖北美与欧洲，同时拥有多款针对未满足公共卫生需求的在研产品。
林肯技术教育集团是美国营利性高等职业教育机构，总部位于新泽西州帕西帕尼，在美国科罗拉多、康涅狄格、佐治亚等12个州都设有校区，所有校区均由林肯教育服务公司持有运营，主打面向就业的高等职业技术教育服务。
DVAX vs LINC — 直观对比
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $94.9M | $142.9M |
| 净利润 | $26.9M | $12.7M |
| 毛利率 | — | 62.3% |
| 营业利润率 | 22.4% | 12.4% |
| 净利率 | 28.4% | 8.9% |
| 营收同比 | 17.7% | 19.7% |
| 净利润同比 | 53.0% | 85.9% |
| 每股收益（稀释后） | $0.21 | $0.41 |
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
| Q4 25 | — | $142.9M | ||
| Q3 25 | $94.9M | $141.4M | ||
| Q2 25 | $95.4M | $116.5M | ||
| Q1 25 | $68.2M | $117.5M | ||
| Q4 24 | $72.0M | $119.4M | ||
| Q3 24 | $80.6M | $114.4M | ||
| Q2 24 | $73.8M | $102.9M | ||
| Q1 24 | $50.8M | $103.4M |
| Q4 25 | — | $12.7M | ||
| Q3 25 | $26.9M | $3.8M | ||
| Q2 25 | $18.7M | $1.6M | ||
| Q1 25 | $-96.1M | $1.9M | ||
| Q4 24 | $7.0M | $6.8M | ||
| Q3 24 | $17.6M | $4.0M | ||
| Q2 24 | $11.4M | $-682.0K | ||
| Q1 24 | $-8.7M | $-214.0K |
| Q4 25 | — | 62.3% | ||
| Q3 25 | — | 59.5% | ||
| Q2 25 | — | 59.8% | ||
| Q1 25 | — | 59.7% | ||
| Q4 24 | — | 62.2% | ||
| Q3 24 | — | 58.0% | ||
| Q2 24 | — | 55.7% | ||
| Q1 24 | — | 58.4% |
| Q4 25 | — | 12.4% | ||
| Q3 25 | 22.4% | 4.4% | ||
| Q2 25 | 15.1% | 2.5% | ||
| Q1 25 | -34.7% | 2.9% | ||
| Q4 24 | -2.3% | 9.2% | ||
| Q3 24 | 12.5% | 5.1% | ||
| Q2 24 | 7.0% | -1.1% | ||
| Q1 24 | -35.0% | -0.4% |
| Q4 25 | — | 8.9% | ||
| Q3 25 | 28.4% | 2.7% | ||
| Q2 25 | 19.6% | 1.3% | ||
| Q1 25 | -141.0% | 1.7% | ||
| Q4 24 | 9.8% | 5.7% | ||
| Q3 24 | 21.8% | 3.5% | ||
| Q2 24 | 15.4% | -0.7% | ||
| Q1 24 | -17.2% | -0.2% |
| Q4 25 | — | $0.41 | ||
| Q3 25 | $0.21 | $0.12 | ||
| Q2 25 | $0.14 | $0.05 | ||
| Q1 25 | $-0.77 | $0.06 | ||
| Q4 24 | $0.07 | $0.22 | ||
| Q3 24 | $0.12 | $0.13 | ||
| Q2 24 | $0.08 | $-0.02 | ||
| Q1 24 | $-0.07 | $-0.01 |
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 | $160.2M | $28.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $534.1M | $199.7M |
| 总资产 | $946.5M | $493.2M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | — | $28.5M | ||
| Q3 25 | $160.2M | $13.5M | ||
| Q2 25 | $99.1M | $16.7M | ||
| Q1 25 | $51.7M | $28.7M | ||
| Q4 24 | $95.9M | $59.3M | ||
| Q3 24 | $119.3M | $54.0M | ||
| Q2 24 | $112.5M | $67.0M | ||
| Q1 24 | $132.0M | $68.6M |
| Q4 25 | — | $199.7M | ||
| Q3 25 | $534.1M | $185.9M | ||
| Q2 25 | $494.2M | $180.7M | ||
| Q1 25 | $530.9M | $177.8M | ||
| Q4 24 | $596.8M | $178.3M | ||
| Q3 24 | $681.4M | $170.0M | ||
| Q2 24 | $642.8M | $164.9M | ||
| Q1 24 | $618.5M | $164.5M |
| Q4 25 | — | $493.2M | ||
| Q3 25 | $946.5M | $466.9M | ||
| Q2 25 | $918.4M | $447.3M | ||
| Q1 25 | $945.9M | $427.4M | ||
| Q4 24 | $986.3M | $436.6M | ||
| Q3 24 | $1.1B | $404.0M | ||
| Q2 24 | $1.0B | $366.4M | ||
| Q1 24 | $986.6M | $355.2M |
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 | $33.8M | $43.5M |
| 自由现金流经营现金流 - 资本支出 | $32.6M | $25.0M |
| 自由现金流率自由现金流/营收 | 34.4% | 17.5% |
| 资本支出强度资本支出/营收 | 1.3% | 13.0% |
| 现金转化率经营现金流/净利润 | 1.26× | 3.43× |
| 过去12个月自由现金流最近4个季度 | $80.5M | $-27.3M |
8季度趋势，按日历期对齐
| Q4 25 | — | $43.5M | ||
| Q3 25 | $33.8M | $23.9M | ||
| Q2 25 | $23.4M | $299.0K | ||
| Q1 25 | $-19.6M | $-8.4M | ||
| Q4 24 | $53.0M | $30.3M | ||
| Q3 24 | $19.5M | $5.6M | ||
| Q2 24 | $10.7M | $8.3M | ||
| Q1 24 | $-16.7M | $-14.9M |
| Q4 25 | — | $25.0M | ||
| Q3 25 | $32.6M | $2.0M | ||
| Q2 25 | $22.0M | $-26.1M | ||
| Q1 25 | $-23.6M | $-28.3M | ||
| Q4 24 | $49.5M | $5.5M | ||
| Q3 24 | $18.1M | $-13.8M | ||
| Q2 24 | $9.9M | $-2.7M | ||
| Q1 24 | $-17.4M | $-16.6M |
| Q4 25 | — | 17.5% | ||
| Q3 25 | 34.4% | 1.4% | ||
| Q2 25 | 23.0% | -22.4% | ||
| Q1 25 | -34.6% | -24.1% | ||
| Q4 24 | 68.8% | 4.6% | ||
| Q3 24 | 22.5% | -12.0% | ||
| Q2 24 | 13.5% | -2.6% | ||
| Q1 24 | -34.3% | -16.1% |
| Q4 25 | — | 13.0% | ||
| Q3 25 | 1.3% | 15.5% | ||
| Q2 25 | 1.5% | 22.7% | ||
| Q1 25 | 5.8% | 16.9% | ||
| Q4 24 | 4.8% | 20.8% | ||
| Q3 24 | 1.7% | 16.9% | ||
| Q2 24 | 1.1% | 10.7% | ||
| Q1 24 | 1.5% | 1.6% |
| Q4 25 | — | 3.43× | ||
| Q3 25 | 1.26× | 6.29× | ||
| Q2 25 | 1.25× | 0.19× | ||
| Q1 25 | — | -4.31× | ||
| Q4 24 | 7.52× | 4.43× | ||
| Q3 24 | 1.11× | 1.42× | ||
| Q2 24 | 0.94× | — | ||
| Q1 24 | — | — |
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
DVAX
| HEPLISAVB | $90.0M | 95% |
| US Department Of Defense | $4.7M | 5% |
LINC
| Transferred Over Time | $136.0M | 95% |
| Transferred At Point In Time | $6.9M | 5% |
