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EXACT SCIENCES CORP（EXAS）与罗塞塔石碑（STEP）财务数据对比。点击上方公司名可切换其他公司
EXACT SCIENCES CORP的季度营收约是罗塞塔石碑的1.5倍（$878.4M vs $586.5M），EXACT SCIENCES CORP净利率更高（-9.8% vs -21.0%，领先11.3%），罗塞塔石碑同比增速更快（73.0% vs 23.1%），EXACT SCIENCES CORP自由现金流更多（$120.4M vs $26.7M），过去两年罗塞塔石碑的营收复合增速更高（28.2% vs 17.4%）
Exact Sciences是总部位于美国威斯康星州麦迪逊的分子诊断企业，专注于早期癌症检测领域。公司核心产品覆盖结直肠癌筛查与预防场景，其中Cologuard是全球首个获批的结直肠癌粪便DNA检测产品，同时还提供其他多种癌症的筛查服务及精准肿瘤检测解决方案。
罗塞塔石碑是美国教育科技软件企业，开发语言学习、读写能力提升及脑训练类软件，旗下语言学习产品知名度极高。2013年公司收购Livemocha、Lexia Learning等品牌拓展教育科技业务矩阵，2021年正式成为IXL Learning的子公司。
EXAS vs STEP — 直观对比
营收规模更大
EXAS
是对方的1.5倍
$586.5M
营收增速更快
STEP
高出49.9%
23.1%
净利率更高
EXAS
高出11.3%
-21.0%
自由现金流更多
EXAS
多$93.7M
$26.7M
两年增速更快
STEP
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $878.4M | $586.5M |
| 净利润 | $-86.0M | $-123.5M |
| 毛利率 | 70.1% | — |
| 营业利润率 | -9.4% | -33.2% |
| 净利率 | -9.8% | -21.0% |
| 营收同比 | 23.1% | 73.0% |
| 净利润同比 | 90.1% | 35.7% |
| 每股收益（稀释后） | $-0.45 | $-1.55 |
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EXASSTEP
| Q4 25 | $878.4M | $586.5M | ||
| Q3 25 | $850.7M | $454.2M | ||
| Q2 25 | $811.1M | $364.3M | ||
| Q1 25 | $706.8M | $377.7M | ||
| Q4 24 | $713.4M | $339.0M | ||
| Q3 24 | $708.7M | $271.7M | ||
| Q2 24 | $699.3M | $186.4M | ||
| Q1 24 | $637.5M | $356.8M |
净利润EXASSTEP
| Q4 25 | $-86.0M | $-123.5M | ||
| Q3 25 | $-19.6M | $-366.1M | ||
| Q2 25 | $-1.2M | $-38.4M | ||
| Q1 25 | $-101.2M | $-18.5M | ||
| Q4 24 | $-864.6M | $-192.0M | ||
| Q3 24 | $-38.2M | $17.6M | ||
| Q2 24 | $-15.8M | $13.3M | ||
| Q1 24 | $-110.2M | $30.8M |
毛利率EXASSTEP
| Q4 25 | 70.1% | — | ||
| Q3 25 | 68.6% | — | ||
| Q2 25 | 69.3% | — | ||
| Q1 25 | 70.8% | — | ||
| Q4 24 | 69.0% | — | ||
| Q3 24 | 69.4% | — | ||
| Q2 24 | 69.8% | — | ||
| Q1 24 | 70.0% | — |
营业利润率EXASSTEP
| Q4 25 | -9.4% | -33.2% | ||
| Q3 25 | -3.0% | -148.8% | ||
| Q2 25 | -0.3% | -5.6% | ||
| Q1 25 | -13.6% | 2.6% | ||
| Q4 24 | -122.8% | -101.7% | ||
| Q3 24 | -5.6% | 21.3% | ||
| Q2 24 | -3.8% | 29.4% | ||
| Q1 24 | -16.7% | 26.5% |
净利率EXASSTEP
| Q4 25 | -9.8% | -21.0% | ||
| Q3 25 | -2.3% | -80.6% | ||
| Q2 25 | -0.1% | -10.5% | ||
| Q1 25 | -14.3% | -4.9% | ||
| Q4 24 | -121.2% | -56.6% | ||
| Q3 24 | -5.4% | 6.5% | ||
| Q2 24 | -2.3% | 7.2% | ||
| Q1 24 | -17.3% | 8.6% |
每股收益（稀释后）EXASSTEP
| Q4 25 | $-0.45 | $-1.55 | ||
| Q3 25 | $-0.10 | $-4.66 | ||
| Q2 25 | $-0.01 | $-0.49 | ||
| Q1 25 | $-0.54 | $-0.37 | ||
| Q4 24 | $-4.69 | $-2.61 | ||
| Q3 24 | $-0.21 | $0.26 | ||
| Q2 24 | $-0.09 | $0.20 | ||
| Q1 24 | $-0.60 | $0.47 |
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 | $964.7M | — |
| 总债务越低越好 | — | $270.2M |
| 股东权益账面价值 | $2.4B | $-378.8M |
| 总资产 | $5.9B | $5.2B |
| 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EXASSTEP
| Q4 25 | $964.7M | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $858.4M | — | ||
| Q1 25 | $786.2M | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $946.8M | — | ||
| Q1 24 | $652.1M | — |
总债务EXASSTEP
| Q4 25 | — | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | — | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M | ||
| Q1 24 | — | $148.8M |
股东权益EXASSTEP
| Q4 25 | $2.4B | $-378.8M | ||
| Q3 25 | $2.5B | $-233.5M | ||
| Q2 25 | $2.5B | $153.9M | ||
| Q1 25 | $2.4B | $179.4M | ||
| Q4 24 | $2.4B | $209.8M | ||
| Q3 24 | $3.2B | $397.5M | ||
| Q2 24 | $3.2B | $366.9M | ||
| Q1 24 | $3.1B | $324.5M |
总资产EXASSTEP
| Q4 25 | $5.9B | $5.2B | ||
| Q3 25 | $5.9B | $5.3B | ||
| Q2 25 | $5.8B | $4.8B | ||
| Q1 25 | $5.7B | $4.6B | ||
| Q4 24 | $5.9B | $4.3B | ||
| Q3 24 | $6.7B | $4.0B | ||
| Q2 24 | $6.7B | $3.8B | ||
| Q1 24 | $6.4B | $3.8B |
负债/权益比EXASSTEP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.46× |
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 | $151.7M | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $120.4M | $26.7M |
| 自由现金流率自由现金流/营收 | 13.7% | 4.6% |
| 资本支出强度资本支出/营收 | 3.6% | 0.1% |
| 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 | $356.8M | $18.6M |
8季度趋势，按日历期对齐
经营现金流EXASSTEP
| Q4 25 | $151.7M | $27.2M | ||
| Q3 25 | $219.9M | $16.2M | ||
| Q2 25 | $89.0M | $46.3M | ||
| Q1 25 | $30.8M | $-66.5M | ||
| Q4 24 | $47.1M | $27.6M | ||
| Q3 24 | $138.7M | $53.7M | ||
| Q2 24 | $107.1M | $50.2M | ||
| Q1 24 | $-82.3M | $7.6M |
自由现金流EXASSTEP
| Q4 25 | $120.4M | $26.7M | ||
| Q3 25 | $190.0M | $15.9M | ||
| Q2 25 | $46.7M | $45.2M | ||
| Q1 25 | $-365.0K | $-69.2M | ||
| Q4 24 | $10.7M | $27.0M | ||
| Q3 24 | $112.6M | $52.4M | ||
| Q2 24 | $71.2M | $49.6M | ||
| Q1 24 | $-120.0M | $6.7M |
自由现金流率EXASSTEP
| Q4 25 | 13.7% | 4.6% | ||
| Q3 25 | 22.3% | 3.5% | ||
| Q2 25 | 5.8% | 12.4% | ||
| Q1 25 | -0.1% | -18.3% | ||
| Q4 24 | 1.5% | 8.0% | ||
| Q3 24 | 15.9% | 19.3% | ||
| Q2 24 | 10.2% | 26.6% | ||
| Q1 24 | -18.8% | 1.9% |
资本支出强度EXASSTEP
| Q4 25 | 3.6% | 0.1% | ||
| Q3 25 | 3.5% | 0.1% | ||
| Q2 25 | 5.2% | 0.3% | ||
| Q1 25 | 4.4% | 0.7% | ||
| Q4 24 | 5.1% | 0.2% | ||
| Q3 24 | 3.7% | 0.5% | ||
| Q2 24 | 5.1% | 0.3% | ||
| Q1 24 | 5.9% | 0.3% |
现金转化率EXASSTEP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.05× | ||
| Q2 24 | — | 3.76× | ||
| Q1 24 | — | 0.25× |
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
EXAS
| Screening | $695.1M | 79% |
| Precision Oncology | $183.2M | 21% |
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
