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Ecovyst Inc.（ECVT）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
Ecovyst Inc.的季度营收约是再鼎医药的1.6倍（$199.4M vs $127.1M），Ecovyst Inc.同比增速更快（34.0% vs 17.1%），Ecovyst Inc.自由现金流更多（$22.9M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 18.7%）
Ecovyst Inc.是一家全球可持续特种材料供应商，主营高性能催化剂与功能性添加剂的研发、生产，产品服务覆盖工业制造、消费品、环保等核心领域，助力全球客户提升运营效率、降低碳排放。
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。
ECVT vs ZLAB — 直观对比
营收规模更大
ECVT
是对方的1.6倍
$127.1M
营收增速更快
ECVT
高出16.9%
17.1%
自由现金流更多
ECVT
多$49.6M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
18.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $127.1M |
| 净利润 | — | — |
| 毛利率 | 23.4% | 51.0% |
| 营业利润率 | 10.9% | -54.6% |
| 净利率 | — | — |
| 营收同比 | 34.0% | 17.1% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.06 | $-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ECVTZLAB
| Q4 25 | $199.4M | $127.1M | ||
| Q3 25 | $204.9M | $115.4M | ||
| Q2 25 | $176.1M | $109.1M | ||
| Q1 25 | $143.1M | $105.7M | ||
| Q4 24 | $148.9M | $108.5M | ||
| Q3 24 | $153.9M | $101.8M | ||
| Q2 24 | $154.0M | $100.1M | ||
| Q1 24 | $141.6M | $87.1M |
净利润ECVTZLAB
| Q4 25 | — | — | ||
| Q3 25 | $-79.3M | $-36.0M | ||
| Q2 25 | $6.0M | $-40.7M | ||
| Q1 25 | $-3.6M | $-48.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $14.3M | $-41.7M | ||
| Q2 24 | $8.3M | $-80.3M | ||
| Q1 24 | $1.2M | $-53.5M |
毛利率ECVTZLAB
| Q4 25 | 23.4% | 51.0% | ||
| Q3 25 | 25.4% | 59.5% | ||
| Q2 25 | 22.8% | 60.6% | ||
| Q1 25 | 13.3% | 63.6% | ||
| Q4 24 | 28.9% | 61.5% | ||
| Q3 24 | 29.3% | 64.1% | ||
| Q2 24 | 27.3% | 64.9% | ||
| Q1 24 | 23.5% | 61.4% |
营业利润率ECVTZLAB
| Q4 25 | 10.9% | -54.6% | ||
| Q3 25 | 13.8% | -42.3% | ||
| Q2 25 | 9.0% | -50.3% | ||
| Q1 25 | -0.7% | -53.3% | ||
| Q4 24 | 15.1% | -62.6% | ||
| Q3 24 | 17.9% | -66.6% | ||
| Q2 24 | 14.1% | -76.0% | ||
| Q1 24 | 9.5% | -80.7% |
净利率ECVTZLAB
| Q4 25 | — | — | ||
| Q3 25 | -38.7% | -31.2% | ||
| Q2 25 | 3.4% | -37.3% | ||
| Q1 25 | -2.5% | -45.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | 9.3% | -40.9% | ||
| Q2 24 | 5.4% | -80.2% | ||
| Q1 24 | 0.9% | -61.4% |
每股收益（稀释后）ECVTZLAB
| Q4 25 | $0.06 | $-0.05 | ||
| Q3 25 | $-0.69 | $-0.03 | ||
| Q2 25 | $0.05 | $-0.04 | ||
| Q1 25 | $-0.03 | $-0.04 | ||
| Q4 24 | $-0.26 | $-0.09 | ||
| Q3 24 | $0.12 | $-0.04 | ||
| Q2 24 | $0.07 | $-0.08 | ||
| Q1 24 | $0.01 | $-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 | $197.2M | $689.6M |
| 总债务越低越好 | $392.6M | — |
| 股东权益账面价值 | $603.4M | $715.5M |
| 总资产 | $1.3B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.65× | — |
8季度趋势，按日历期对齐
现金及短期投资ECVTZLAB
| Q4 25 | $197.2M | $689.6M | ||
| Q3 25 | $82.0M | $717.2M | ||
| Q2 25 | $69.6M | $732.2M | ||
| Q1 25 | $127.5M | $757.3M | ||
| Q4 24 | $131.4M | $779.7M | ||
| Q3 24 | $123.5M | $616.1M | ||
| Q2 24 | $83.3M | $630.0M | ||
| Q1 24 | $103.1M | $650.8M |
总债务ECVTZLAB
| Q4 25 | $392.6M | — | ||
| Q3 25 | $854.8M | — | ||
| Q2 25 | $856.6M | — | ||
| Q1 25 | $859.0M | — | ||
| Q4 24 | $860.8M | — | ||
| Q3 24 | $862.7M | — | ||
| Q2 24 | $862.4M | — | ||
| Q1 24 | $866.2M | — |
股东权益ECVTZLAB
| Q4 25 | $603.4M | $715.5M | ||
| Q3 25 | $607.9M | $759.9M | ||
| Q2 25 | $692.4M | $791.7M | ||
| Q1 25 | $698.7M | $810.8M | ||
| Q4 24 | $700.5M | $840.9M | ||
| Q3 24 | $729.4M | $667.7M | ||
| Q2 24 | $717.3M | $704.2M | ||
| Q1 24 | $711.4M | $762.2M |
总资产ECVTZLAB
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.8B | $1.2B | ||
| Q4 24 | $1.8B | $1.2B | ||
| Q3 24 | $1.8B | $985.3M | ||
| Q2 24 | $1.8B | $987.4M | ||
| Q1 24 | $1.8B | $988.4M |
负债/权益比ECVTZLAB
| Q4 25 | 0.65× | — | ||
| Q3 25 | 1.41× | — | ||
| Q2 25 | 1.24× | — | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 1.23× | — | ||
| Q3 24 | 1.18× | — | ||
| Q2 24 | 1.20× | — | ||
| Q1 24 | 1.22× | — |
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 | $41.8M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $22.9M | $-26.7M |
| 自由现金流率自由现金流/营收 | 11.5% | -21.0% |
| 资本支出强度资本支出/营收 | 9.4% | 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 | $69.9M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流ECVTZLAB
| Q4 25 | $41.8M | $-26.0M | ||
| Q3 25 | $55.3M | $-32.0M | ||
| Q2 25 | $33.0M | $-31.0M | ||
| Q1 25 | $10.3M | $-61.7M | ||
| Q4 24 | $43.5M | $-55.8M | ||
| Q3 24 | $59.9M | $-26.8M | ||
| Q2 24 | $10.0M | $-42.2M | ||
| Q1 24 | $36.5M | $-90.1M |
自由现金流ECVTZLAB
| Q4 25 | $22.9M | $-26.7M | ||
| Q3 25 | $53.2M | $-35.0M | ||
| Q2 25 | $7.8M | $-33.9M | ||
| Q1 25 | $-14.0M | $-63.2M | ||
| Q4 24 | $30.9M | $-58.4M | ||
| Q3 24 | $53.6M | $-28.2M | ||
| Q2 24 | $-9.3M | $-42.9M | ||
| Q1 24 | $19.1M | $-91.1M |
自由现金流率ECVTZLAB
| Q4 25 | 11.5% | -21.0% | ||
| Q3 25 | 26.0% | -30.4% | ||
| Q2 25 | 4.4% | -31.1% | ||
| Q1 25 | -9.8% | -59.9% | ||
| Q4 24 | 20.7% | -53.8% | ||
| Q3 24 | 34.9% | -27.7% | ||
| Q2 24 | -6.1% | -42.9% | ||
| Q1 24 | 13.5% | -104.5% |
资本支出强度ECVTZLAB
| Q4 25 | 9.4% | 0.5% | ||
| Q3 25 | 1.0% | 2.6% | ||
| Q2 25 | 14.4% | 2.6% | ||
| Q1 25 | 16.9% | 1.5% | ||
| Q4 24 | 8.5% | 2.4% | ||
| Q3 24 | 4.1% | 1.3% | ||
| Q2 24 | 12.5% | 0.7% | ||
| Q1 24 | 12.3% | 1.1% |
现金转化率ECVTZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 5.52× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.21× | — | ||
| Q2 24 | 1.20× | — | ||
| Q1 24 | 29.90× | — |
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
ECVT
| Industrial Mining Automotive | $101.3M | 51% |
| Regeneration And Treatment Services | $90.0M | 45% |
| Other | $8.1M | 4% |
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% |
