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Energy Recovery, Inc.（ERII）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
再鼎医药的季度营收约是Energy Recovery, Inc.的1.9倍（$127.1M vs $66.9M），再鼎医药同比增速更快（17.1% vs -0.3%），Energy Recovery, Inc.自由现金流更多（$6.4M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 8.1%）
Energy Recovery, Inc.是一家美国制造商，专注生产为水务及二氧化碳制冷行业提供的能量回收装置，产品可帮助相关行业在工艺流程中回收利用富余能量，助力客户降低能耗成本，提升运营的绿色低碳水平，在细分领域拥有领先的技术积累。
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。
ERII vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.9倍
$66.9M
营收增速更快
ZLAB
高出17.4%
-0.3%
自由现金流更多
ERII
多$33.1M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
8.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $66.9M | $127.1M |
| 净利润 | $26.9M | — |
| 毛利率 | 67.2% | 51.0% |
| 营业利润率 | 46.8% | -54.6% |
| 净利率 | 40.2% | — |
| 营收同比 | -0.3% | 17.1% |
| 净利润同比 | 14.7% | — |
| 每股收益（稀释后） | $0.49 | $-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ERIIZLAB
| Q4 25 | $66.9M | $127.1M | ||
| Q3 25 | $32.0M | $115.4M | ||
| Q2 25 | $28.1M | $109.1M | ||
| Q1 25 | — | $105.7M | ||
| Q4 24 | $67.1M | $108.5M | ||
| Q3 24 | $38.6M | $101.8M | ||
| Q2 24 | $27.2M | $100.1M | ||
| Q1 24 | $12.1M | $87.1M |
净利润ERIIZLAB
| Q4 25 | $26.9M | — | ||
| Q3 25 | $3.9M | $-36.0M | ||
| Q2 25 | $2.1M | $-40.7M | ||
| Q1 25 | — | $-48.4M | ||
| Q4 24 | $23.5M | — | ||
| Q3 24 | $8.5M | $-41.7M | ||
| Q2 24 | $-642.0K | $-80.3M | ||
| Q1 24 | $-8.3M | $-53.5M |
毛利率ERIIZLAB
| Q4 25 | 67.2% | 51.0% | ||
| Q3 25 | 64.2% | 59.5% | ||
| Q2 25 | 64.0% | 60.6% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | 70.2% | 61.5% | ||
| Q3 24 | 65.1% | 64.1% | ||
| Q2 24 | 64.6% | 64.9% | ||
| Q1 24 | 59.0% | 61.4% |
营业利润率ERIIZLAB
| Q4 25 | 46.8% | -54.6% | ||
| Q3 25 | 11.4% | -42.3% | ||
| Q2 25 | 5.3% | -50.3% | ||
| Q1 25 | — | -53.3% | ||
| Q4 24 | 38.2% | -62.6% | ||
| Q3 24 | 18.3% | -66.6% | ||
| Q2 24 | -7.4% | -76.0% | ||
| Q1 24 | -90.4% | -80.7% |
净利率ERIIZLAB
| Q4 25 | 40.2% | — | ||
| Q3 25 | 12.1% | -31.2% | ||
| Q2 25 | 7.3% | -37.3% | ||
| Q1 25 | — | -45.8% | ||
| Q4 24 | 35.0% | — | ||
| Q3 24 | 22.0% | -40.9% | ||
| Q2 24 | -2.4% | -80.2% | ||
| Q1 24 | -68.3% | -61.4% |
每股收益（稀释后）ERIIZLAB
| Q4 25 | $0.49 | $-0.05 | ||
| Q3 25 | $0.07 | $-0.03 | ||
| Q2 25 | $0.04 | $-0.04 | ||
| Q1 25 | — | $-0.04 | ||
| Q4 24 | $0.40 | $-0.09 | ||
| Q3 24 | $0.15 | $-0.04 | ||
| Q2 24 | $-0.01 | $-0.08 | ||
| Q1 24 | $-0.14 | $-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 | $75.2M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $206.2M | $715.5M |
| 总资产 | $231.5M | $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ERIIZLAB
| Q4 25 | $75.2M | $689.6M | ||
| Q3 25 | $70.4M | $717.2M | ||
| Q2 25 | $79.5M | $732.2M | ||
| Q1 25 | — | $757.3M | ||
| Q4 24 | $78.0M | $779.7M | ||
| Q3 24 | $118.6M | $616.1M | ||
| Q2 24 | $101.0M | $630.0M | ||
| Q1 24 | $117.4M | $650.8M |
股东权益ERIIZLAB
| Q4 25 | $206.2M | $715.5M | ||
| Q3 25 | $180.8M | $759.9M | ||
| Q2 25 | $185.2M | $791.7M | ||
| Q1 25 | — | $810.8M | ||
| Q4 24 | $210.0M | $840.9M | ||
| Q3 24 | $233.9M | $667.7M | ||
| Q2 24 | $218.5M | $704.2M | ||
| Q1 24 | $216.0M | $762.2M |
总资产ERIIZLAB
| Q4 25 | $231.5M | $1.2B | ||
| Q3 25 | $209.6M | $1.2B | ||
| Q2 25 | $212.3M | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $242.8M | $1.2B | ||
| Q3 24 | $262.7M | $985.3M | ||
| Q2 24 | $249.0M | $987.4M | ||
| Q1 24 | $244.3M | $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 | $7.1M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $6.4M | $-26.7M |
| 自由现金流率自由现金流/营收 | 9.6% | -21.0% |
| 资本支出强度资本支出/营收 | 1.0% | 0.5% |
| 现金转化率经营现金流/净利润 | 0.26× | — |
| 过去12个月自由现金流最近4个季度 | $15.8M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流ERIIZLAB
| Q4 25 | $7.1M | $-26.0M | ||
| Q3 25 | $-3.1M | $-32.0M | ||
| Q2 25 | $4.1M | $-31.0M | ||
| Q1 25 | — | $-61.7M | ||
| Q4 24 | $9.0M | $-55.8M | ||
| Q3 24 | $-3.0M | $-26.8M | ||
| Q2 24 | $8.1M | $-42.2M | ||
| Q1 24 | $6.5M | $-90.1M |
自由现金流ERIIZLAB
| Q4 25 | $6.4M | $-26.7M | ||
| Q3 25 | $-3.5M | $-35.0M | ||
| Q2 25 | $4.0M | $-33.9M | ||
| Q1 25 | — | $-63.2M | ||
| Q4 24 | $8.9M | $-58.4M | ||
| Q3 24 | $-3.2M | $-28.2M | ||
| Q2 24 | $7.9M | $-42.9M | ||
| Q1 24 | $5.7M | $-91.1M |
自由现金流率ERIIZLAB
| Q4 25 | 9.6% | -21.0% | ||
| Q3 25 | -10.9% | -30.4% | ||
| Q2 25 | 14.3% | -31.1% | ||
| Q1 25 | — | -59.9% | ||
| Q4 24 | 13.2% | -53.8% | ||
| Q3 24 | -8.2% | -27.7% | ||
| Q2 24 | 28.9% | -42.9% | ||
| Q1 24 | 46.9% | -104.5% |
资本支出强度ERIIZLAB
| Q4 25 | 1.0% | 0.5% | ||
| Q3 25 | 1.1% | 2.6% | ||
| Q2 25 | 0.5% | 2.6% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | 0.2% | 2.4% | ||
| Q3 24 | 0.4% | 1.3% | ||
| Q2 24 | 0.7% | 0.7% | ||
| Q1 24 | 6.8% | 1.1% |
现金转化率ERIIZLAB
| Q4 25 | 0.26× | — | ||
| Q3 25 | -0.81× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.38× | — | ||
| Q3 24 | -0.35× | — | ||
| Q2 24 | — | — | ||
| 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
ERII
| Water Segment | $38.6M | 58% |
| Other | $11.0M | 16% |
| Original Equipment Manufacturer | $10.6M | 16% |
| Aftermarket | $6.6M | 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% |
