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慧与（EFSC）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
慧与的季度营收约是再鼎医药的1.5倍（$185.2M vs $127.1M），过去两年再鼎医药的营收复合增速更高（20.8% vs 9.0%）
慧与（Hewlett Packard Enterprise，简称HPE）是总部位于美国得克萨斯州斯普林的跨国信息技术企业，面向企业客户提供服务器、存储、网络、容器化软件及咨询支持服务，2018年位列美国《财富》500强第107位。
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。
EFSC vs ZLAB — 直观对比
营收规模更大
EFSC
是对方的1.5倍
$127.1M
两年增速更快
ZLAB
近两年复合增速
9.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $185.2M | $127.1M |
| 净利润 | $49.4M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | — | -54.6% |
| 净利率 | 26.6% | — |
| 营收同比 | — | 17.1% |
| 净利润同比 | -1.2% | — |
| 每股收益（稀释后） | $1.30 | $-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EFSCZLAB
| Q1 26 | $185.2M | — | ||
| Q4 25 | $193.6M | $127.1M | ||
| Q3 25 | $206.9M | $115.4M | ||
| Q2 25 | $173.4M | $109.1M | ||
| Q1 25 | $166.0M | $105.7M | ||
| Q4 24 | $167.0M | $108.5M | ||
| Q3 24 | $164.9M | $101.8M | ||
| Q2 24 | $156.0M | $100.1M |
净利润EFSCZLAB
| Q1 26 | $49.4M | — | ||
| Q4 25 | $54.8M | — | ||
| Q3 25 | $45.2M | $-36.0M | ||
| Q2 25 | $51.4M | $-40.7M | ||
| Q1 25 | $50.0M | $-48.4M | ||
| Q4 24 | $48.8M | — | ||
| Q3 24 | $50.6M | $-41.7M | ||
| Q2 24 | $45.4M | $-80.3M |
毛利率EFSCZLAB
| Q1 26 | — | — | ||
| Q4 25 | — | 51.0% | ||
| Q3 25 | — | 59.5% | ||
| Q2 25 | — | 60.6% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 64.1% | ||
| Q2 24 | — | 64.9% |
营业利润率EFSCZLAB
| Q1 26 | — | — | ||
| Q4 25 | — | -54.6% | ||
| Q3 25 | 42.9% | -42.3% | ||
| Q2 25 | 37.0% | -50.3% | ||
| Q1 25 | 36.8% | -53.3% | ||
| Q4 24 | — | -62.6% | ||
| Q3 24 | 38.1% | -66.6% | ||
| Q2 24 | 36.7% | -76.0% |
净利率EFSCZLAB
| Q1 26 | 26.6% | — | ||
| Q4 25 | 28.3% | — | ||
| Q3 25 | 21.9% | -31.2% | ||
| Q2 25 | 29.6% | -37.3% | ||
| Q1 25 | 30.1% | -45.8% | ||
| Q4 24 | 29.2% | — | ||
| Q3 24 | 30.7% | -40.9% | ||
| Q2 24 | 29.1% | -80.2% |
每股收益（稀释后）EFSCZLAB
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.45 | $-0.05 | ||
| Q3 25 | $1.19 | $-0.03 | ||
| Q2 25 | $1.36 | $-0.04 | ||
| Q1 25 | $1.31 | $-0.04 | ||
| Q4 24 | $1.27 | $-0.09 | ||
| Q3 24 | $1.32 | $-0.04 | ||
| Q2 24 | $1.19 | $-0.08 |
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 | — | — |
| 股东权益账面价值 | $2.1B | $715.5M |
| 总资产 | $17.3B | $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EFSCZLAB
| Q1 26 | — | — | ||
| 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 |
股东权益EFSCZLAB
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.0B | $715.5M | ||
| Q3 25 | $2.0B | $759.9M | ||
| Q2 25 | $1.9B | $791.7M | ||
| Q1 25 | $1.9B | $810.8M | ||
| Q4 24 | $1.8B | $840.9M | ||
| Q3 24 | $1.8B | $667.7M | ||
| Q2 24 | $1.8B | $704.2M |
总资产EFSCZLAB
| Q1 26 | $17.3B | — | ||
| Q4 25 | $17.3B | $1.2B | ||
| Q3 25 | $16.4B | $1.2B | ||
| Q2 25 | $16.1B | $1.2B | ||
| Q1 25 | $15.7B | $1.2B | ||
| Q4 24 | $15.6B | $1.2B | ||
| Q3 24 | $15.0B | $985.3M | ||
| Q2 24 | $14.6B | $987.4M |
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 | — | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-26.7M |
| 自由现金流率自由现金流/营收 | — | -21.0% |
| 资本支出强度资本支出/营收 | — | 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 | — | $-158.9M |
8季度趋势，按日历期对齐
经营现金流EFSCZLAB
| Q1 26 | — | — | ||
| Q4 25 | $193.5M | $-26.0M | ||
| Q3 25 | $49.4M | $-32.0M | ||
| Q2 25 | $61.3M | $-31.0M | ||
| Q1 25 | $40.0M | $-61.7M | ||
| Q4 24 | $247.4M | $-55.8M | ||
| Q3 24 | $89.0M | $-26.8M | ||
| Q2 24 | $76.5M | $-42.2M |
自由现金流EFSCZLAB
| Q1 26 | — | — | ||
| Q4 25 | $181.5M | $-26.7M | ||
| Q3 25 | $47.1M | $-35.0M | ||
| Q2 25 | $59.0M | $-33.9M | ||
| Q1 25 | $35.6M | $-63.2M | ||
| Q4 24 | $239.9M | $-58.4M | ||
| Q3 24 | $88.2M | $-28.2M | ||
| Q2 24 | $74.7M | $-42.9M |
自由现金流率EFSCZLAB
| Q1 26 | — | — | ||
| Q4 25 | 93.8% | -21.0% | ||
| Q3 25 | 22.8% | -30.4% | ||
| Q2 25 | 34.0% | -31.1% | ||
| Q1 25 | 21.5% | -59.9% | ||
| Q4 24 | 143.7% | -53.8% | ||
| Q3 24 | 53.5% | -27.7% | ||
| Q2 24 | 47.9% | -42.9% |
资本支出强度EFSCZLAB
| Q1 26 | — | — | ||
| Q4 25 | 6.2% | 0.5% | ||
| Q3 25 | 1.1% | 2.6% | ||
| Q2 25 | 1.3% | 2.6% | ||
| Q1 25 | 2.7% | 1.5% | ||
| Q4 24 | 4.5% | 2.4% | ||
| Q3 24 | 0.5% | 1.3% | ||
| Q2 24 | 1.1% | 0.7% |
现金转化率EFSCZLAB
| Q1 26 | — | — | ||
| Q4 25 | 3.53× | — | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 1.19× | — | ||
| Q1 25 | 0.80× | — | ||
| Q4 24 | 5.07× | — | ||
| Q3 24 | 1.76× | — | ||
| Q2 24 | 1.68× | — |
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
EFSC
| Net Interest Income | $166.1M | 90% |
| Noninterest Income | $19.1M | 10% |
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% |
