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EPR PROPERTIES（EPR）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
EPR PROPERTIES的季度营收约是再鼎医药的1.4倍（$182.9M vs $127.1M），再鼎医药同比增速更快（17.1% vs 3.2%），EPR PROPERTIES自由现金流更多（$269.2M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 4.6%）
EPR地产（前身为娱乐地产信托）是总部位于美国密苏里州堪萨斯城的房地产投资信托企业，专注投资游乐园、电影院、滑雪度假村等娱乐类地产项目，截至2022年共持有353处物业。
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。
EPR vs ZLAB — 直观对比
营收规模更大
EPR
是对方的1.4倍
$127.1M
营收增速更快
ZLAB
高出13.9%
3.2%
自由现金流更多
EPR
多$295.9M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $182.9M | $127.1M |
| 净利润 | $66.9M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | 56.8% | -54.6% |
| 净利率 | 36.6% | — |
| 营收同比 | 3.2% | 17.1% |
| 净利润同比 | 897.0% | — |
| 每股收益（稀释后） | $0.80 | $-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EPRZLAB
| Q4 25 | $182.9M | $127.1M | ||
| Q3 25 | $182.3M | $115.4M | ||
| Q2 25 | $178.1M | $109.1M | ||
| Q1 25 | $175.0M | $105.7M | ||
| Q4 24 | $177.2M | $108.5M | ||
| Q3 24 | $180.5M | $101.8M | ||
| Q2 24 | $173.1M | $100.1M | ||
| Q1 24 | $167.2M | $87.1M |
净利润EPRZLAB
| Q4 25 | $66.9M | — | ||
| Q3 25 | $66.6M | $-36.0M | ||
| Q2 25 | $75.6M | $-40.7M | ||
| Q1 25 | $65.8M | $-48.4M | ||
| Q4 24 | $-8.4M | — | ||
| Q3 24 | $46.6M | $-41.7M | ||
| Q2 24 | $45.1M | $-80.3M | ||
| Q1 24 | $62.7M | $-53.5M |
毛利率EPRZLAB
| 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% | ||
| Q1 24 | — | 61.4% |
营业利润率EPRZLAB
| Q4 25 | 56.8% | -54.6% | ||
| Q3 25 | 53.5% | -42.3% | ||
| Q2 25 | 62.5% | -50.3% | ||
| Q1 25 | 58.1% | -53.3% | ||
| Q4 24 | 25.5% | -62.6% | ||
| Q3 24 | 51.4% | -66.6% | ||
| Q2 24 | 45.9% | -76.0% | ||
| Q1 24 | 58.8% | -80.7% |
净利率EPRZLAB
| Q4 25 | 36.6% | — | ||
| Q3 25 | 36.5% | -31.2% | ||
| Q2 25 | 42.5% | -37.3% | ||
| Q1 25 | 37.6% | -45.8% | ||
| Q4 24 | -4.7% | — | ||
| Q3 24 | 25.8% | -40.9% | ||
| Q2 24 | 26.1% | -80.2% | ||
| Q1 24 | 37.5% | -61.4% |
每股收益（稀释后）EPRZLAB
| Q4 25 | $0.80 | $-0.05 | ||
| Q3 25 | $0.79 | $-0.03 | ||
| Q2 25 | $0.91 | $-0.04 | ||
| Q1 25 | $0.78 | $-0.04 | ||
| Q4 24 | $-0.19 | $-0.09 | ||
| Q3 24 | $0.53 | $-0.04 | ||
| Q2 24 | $0.51 | $-0.08 | ||
| Q1 24 | $0.75 | $-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 | $90.6M | $689.6M |
| 总债务越低越好 | $2.9B | — |
| 股东权益账面价值 | $2.3B | $715.5M |
| 总资产 | $5.7B | $1.2B |
| 负债/权益比越低杠杆越低 | 1.26× | — |
8季度趋势，按日历期对齐
现金及短期投资EPRZLAB
| Q4 25 | $90.6M | $689.6M | ||
| Q3 25 | $13.7M | $717.2M | ||
| Q2 25 | $13.0M | $732.2M | ||
| Q1 25 | $20.6M | $757.3M | ||
| Q4 24 | $22.1M | $779.7M | ||
| Q3 24 | $35.3M | $616.1M | ||
| Q2 24 | $33.7M | $630.0M | ||
| Q1 24 | $59.5M | $650.8M |
总债务EPRZLAB
| Q4 25 | $2.9B | — | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $2.8B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.8B | — |
股东权益EPRZLAB
| Q4 25 | $2.3B | $715.5M | ||
| Q3 25 | $2.3B | $759.9M | ||
| Q2 25 | $2.3B | $791.7M | ||
| Q1 25 | $2.3B | $810.8M | ||
| Q4 24 | $2.3B | $840.9M | ||
| Q3 24 | $2.4B | $667.7M | ||
| Q2 24 | $2.4B | $704.2M | ||
| Q1 24 | $2.4B | $762.2M |
总资产EPRZLAB
| Q4 25 | $5.7B | $1.2B | ||
| Q3 25 | $5.5B | $1.2B | ||
| Q2 25 | $5.6B | $1.2B | ||
| Q1 25 | $5.5B | $1.2B | ||
| Q4 24 | $5.6B | $1.2B | ||
| Q3 24 | $5.7B | $985.3M | ||
| Q2 24 | $5.6B | $987.4M | ||
| Q1 24 | $5.7B | $988.4M |
负债/权益比EPRZLAB
| Q4 25 | 1.26× | — | ||
| Q3 25 | 1.19× | — | ||
| Q2 25 | 1.20× | — | ||
| Q1 25 | 1.20× | — | ||
| Q4 24 | 1.23× | — | ||
| Q3 24 | 1.19× | — | ||
| Q2 24 | 1.16× | — | ||
| Q1 24 | 1.15× | — |
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 | $421.0M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $269.2M | $-26.7M |
| 自由现金流率自由现金流/营收 | 147.1% | -21.0% |
| 资本支出强度资本支出/营收 | 82.9% | 0.5% |
| 现金转化率经营现金流/净利润 | 6.29× | — |
| 过去12个月自由现金流最近4个季度 | $568.5M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流EPRZLAB
| Q4 25 | $421.0M | $-26.0M | ||
| Q3 25 | $136.5M | $-32.0M | ||
| Q2 25 | $87.3M | $-31.0M | ||
| Q1 25 | $99.4M | $-61.7M | ||
| Q4 24 | $393.1M | $-55.8M | ||
| Q3 24 | $122.0M | $-26.8M | ||
| Q2 24 | $78.7M | $-42.2M | ||
| Q1 24 | $99.5M | $-90.1M |
自由现金流EPRZLAB
| Q4 25 | $269.2M | $-26.7M | ||
| Q3 25 | $132.1M | $-35.0M | ||
| Q2 25 | $82.4M | $-33.9M | ||
| Q1 25 | $84.7M | $-63.2M | ||
| Q4 24 | $129.2M | $-58.4M | ||
| Q3 24 | $121.5M | $-28.2M | ||
| Q2 24 | $71.3M | $-42.9M | ||
| Q1 24 | $65.0M | $-91.1M |
自由现金流率EPRZLAB
| Q4 25 | 147.1% | -21.0% | ||
| Q3 25 | 72.5% | -30.4% | ||
| Q2 25 | 46.3% | -31.1% | ||
| Q1 25 | 48.4% | -59.9% | ||
| Q4 24 | 72.9% | -53.8% | ||
| Q3 24 | 67.3% | -27.7% | ||
| Q2 24 | 41.2% | -42.9% | ||
| Q1 24 | 38.9% | -104.5% |
资本支出强度EPRZLAB
| Q4 25 | 82.9% | 0.5% | ||
| Q3 25 | 2.4% | 2.6% | ||
| Q2 25 | 2.7% | 2.6% | ||
| Q1 25 | 8.4% | 1.5% | ||
| Q4 24 | 148.9% | 2.4% | ||
| Q3 24 | 0.3% | 1.3% | ||
| Q2 24 | 4.2% | 0.7% | ||
| Q1 24 | 20.6% | 1.1% |
现金转化率EPRZLAB
| Q4 25 | 6.29× | — | ||
| Q3 25 | 2.05× | — | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.62× | — | ||
| Q2 24 | 1.74× | — | ||
| Q1 24 | 1.59× | — |
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
EPR
| Experiential Reportable Operating Segment | $173.3M | 95% |
| Education Reportable Operating Segment | $9.5M | 5% |
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% |
