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Fortress Biotech, Inc.（FBIO）与TERAWULF INC.（WULF）财务数据对比。点击上方公司名可切换其他公司
TERAWULF INC.的季度营收约是Fortress Biotech, Inc.的1.6倍（$26.1M vs $16.1M），Fortress Biotech, Inc.净利率更高（-24.5% vs -484.2%，领先459.7%），Fortress Biotech, Inc.同比增速更快（6.3% vs -25.3%），过去两年Fortress Biotech, Inc.的营收复合增速更高（11.0% vs -21.5%）
堡垒生物科技（Fortress Biotech）是一家生物制药企业，核心业务为收购、开发并商业化创新医药与生物技术产品。公司由医学博士林赛·A·罗森瓦尔德担任首席执行官，包括绝大多数子公司在内，公司总部均设于佛罗里达州贝港群岛。
TeraWulf Inc.是美国比特币挖矿企业，2021年成立，于纳斯达克挂牌上市，股票交易代码为WULF，目前在纽约州、宾夕法尼亚州两地运营加密货币矿场，核心业务围绕比特币挖矿展开。
FBIO vs WULF — 直观对比
营收规模更大
WULF
是对方的1.6倍
$16.1M
营收增速更快
FBIO
高出31.5%
-25.3%
净利率更高
FBIO
高出459.7%
-484.2%
两年增速更快
FBIO
近两年复合增速
-21.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $16.1M | $26.1M |
| 净利润 | $-3.9M | $-126.6M |
| 毛利率 | 66.1% | 27.7% |
| 营业利润率 | -28.8% | -330.2% |
| 净利率 | -24.5% | -484.2% |
| 营收同比 | 6.3% | -25.3% |
| 净利润同比 | 41.8% | -333.5% |
| 每股收益（稀释后） | $-0.15 | $-0.32 |
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FBIOWULF
| Q4 25 | $16.1M | $26.1M | ||
| Q3 25 | $17.6M | $50.6M | ||
| Q2 25 | $16.4M | $47.6M | ||
| Q1 25 | $13.1M | $34.4M | ||
| Q4 24 | $15.1M | $35.0M | ||
| Q3 24 | $14.6M | $27.1M | ||
| Q2 24 | $14.9M | $35.6M | ||
| Q1 24 | $13.0M | $42.4M |
净利润FBIOWULF
| Q4 25 | $-3.9M | $-126.6M | ||
| Q3 25 | $5.8M | $-455.1M | ||
| Q2 25 | $15.5M | $-18.4M | ||
| Q1 25 | $-10.6M | $-61.4M | ||
| Q4 24 | $-6.8M | $-29.2M | ||
| Q3 24 | $-12.9M | $-22.7M | ||
| Q2 24 | $-10.9M | $-10.9M | ||
| Q1 24 | $-15.4M | $-9.6M |
毛利率FBIOWULF
| Q4 25 | 66.1% | 27.7% | ||
| Q3 25 | 67.4% | 57.2% | ||
| Q2 25 | 69.9% | 53.6% | ||
| Q1 25 | 63.5% | 28.6% | ||
| Q4 24 | 69.1% | 26.6% | ||
| Q3 24 | 69.4% | 40.0% | ||
| Q2 24 | 61.6% | 60.9% | ||
| Q1 24 | 53.9% | 66.0% |
营业利润率FBIOWULF
| Q4 25 | -28.8% | -330.2% | ||
| Q3 25 | -38.6% | -48.8% | ||
| Q2 25 | -222.2% | -32.7% | ||
| Q1 25 | -169.9% | -173.3% | ||
| Q4 24 | -158.3% | -147.0% | ||
| Q3 24 | -151.0% | -58.1% | ||
| Q2 24 | -186.5% | -19.0% | ||
| Q1 24 | -280.6% | -5.5% |
净利率FBIOWULF
| Q4 25 | -24.5% | -484.2% | ||
| Q3 25 | 33.2% | -899.7% | ||
| Q2 25 | 94.4% | -38.6% | ||
| Q1 25 | -80.6% | -178.5% | ||
| Q4 24 | -44.7% | -83.5% | ||
| Q3 24 | -88.0% | -84.0% | ||
| Q2 24 | -73.5% | -30.6% | ||
| Q1 24 | -118.3% | -22.7% |
每股收益（稀释后）FBIOWULF
| Q4 25 | $-0.15 | $-0.32 | ||
| Q3 25 | $0.11 | $-1.13 | ||
| Q2 25 | $0.45 | $-0.05 | ||
| Q1 25 | $-0.48 | $-0.16 | ||
| Q4 24 | $-0.16 | $-0.09 | ||
| Q3 24 | $-0.76 | $-0.06 | ||
| Q2 24 | $-0.73 | $-0.03 | ||
| Q1 24 | $-1.04 | $-0.03 |
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 | $79.4M | $3.3B |
| 总债务越低越好 | $52.4M | $3.1B |
| 股东权益账面价值 | $49.9M | $140.4M |
| 总资产 | $185.5M | $6.6B |
| 负债/权益比越低杠杆越低 | 1.05× | 22.06× |
8季度趋势，按日历期对齐
现金及短期投资FBIOWULF
| Q4 25 | $79.4M | $3.3B | ||
| Q3 25 | $86.2M | $711.3M | ||
| Q2 25 | $74.4M | $90.0M | ||
| Q1 25 | $91.3M | $218.2M | ||
| Q4 24 | $57.3M | $274.1M | ||
| Q3 24 | $58.9M | $23.9M | ||
| Q2 24 | $76.2M | $104.1M | ||
| Q1 24 | $83.8M | $45.8M |
总债务FBIOWULF
| Q4 25 | $52.4M | $3.1B | ||
| Q3 25 | $47.8M | — | ||
| Q2 25 | $50.0M | — | ||
| Q1 25 | $56.4M | — | ||
| Q4 24 | $58.0M | $0 | ||
| Q3 24 | $52.5M | $0 | ||
| Q2 24 | $67.0M | $72.3M | ||
| Q1 24 | $61.4M | $99.4M |
股东权益FBIOWULF
| Q4 25 | $49.9M | $140.4M | ||
| Q3 25 | $55.9M | $247.3M | ||
| Q2 25 | $43.9M | $174.3M | ||
| Q1 25 | $22.3M | $170.4M | ||
| Q4 24 | $22.7M | $244.4M | ||
| Q3 24 | $21.2M | $372.6M | ||
| Q2 24 | $17.9M | $386.2M | ||
| Q1 24 | $23.0M | $272.3M |
总资产FBIOWULF
| Q4 25 | $185.5M | $6.6B | ||
| Q3 25 | $181.4M | $2.5B | ||
| Q2 25 | $159.9M | $869.4M | ||
| Q1 25 | $178.1M | $841.2M | ||
| Q4 24 | $144.2M | $787.5M | ||
| Q3 24 | $127.1M | $405.9M | ||
| Q2 24 | $145.7M | $479.6M | ||
| Q1 24 | $164.6M | $395.4M |
负债/权益比FBIOWULF
| Q4 25 | 1.05× | 22.06× | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 2.53× | — | ||
| Q4 24 | 2.55× | 0.00× | ||
| Q3 24 | 2.48× | 0.00× | ||
| Q2 24 | 3.75× | 0.19× | ||
| Q1 24 | 2.67× | 0.37× |
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 | $-12.5M | $-123.2M |
| 自由现金流经营现金流 - 资本支出 | — | $-1.2B |
| 自由现金流率自由现金流/营收 | — | -4527.0% |
| 资本支出强度资本支出/营收 | — | 4055.8% |
| 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 | — | $-1.7B |
8季度趋势，按日历期对齐
经营现金流FBIOWULF
| Q4 25 | $-12.5M | $-123.2M | ||
| Q3 25 | $-6.1M | $-36.7M | ||
| Q2 25 | $-27.6M | $-54.8M | ||
| Q1 25 | $-19.6M | $56.5M | ||
| Q4 24 | $-12.9M | $-24.4M | ||
| Q3 24 | $-20.1M | $-20.9M | ||
| Q2 24 | $-21.8M | $16.4M | ||
| Q1 24 | $-25.4M | $22.8M |
自由现金流FBIOWULF
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $-268.3M | ||
| Q2 25 | — | $-174.8M | ||
| Q1 25 | — | $-37.2M | ||
| Q4 24 | — | $-292.4M | ||
| Q3 24 | — | $-41.7M | ||
| Q2 24 | — | $-30.2M | ||
| Q1 24 | — | $-24.1M |
自由现金流率FBIOWULF
| Q4 25 | — | -4527.0% | ||
| Q3 25 | — | -530.4% | ||
| Q2 25 | — | -366.8% | ||
| Q1 25 | — | -108.1% | ||
| Q4 24 | — | -835.7% | ||
| Q3 24 | — | -153.9% | ||
| Q2 24 | — | -84.9% | ||
| Q1 24 | — | -56.9% |
资本支出强度FBIOWULF
| Q4 25 | — | 4055.8% | ||
| Q3 25 | — | 457.8% | ||
| Q2 25 | — | 251.8% | ||
| Q1 25 | — | 272.3% | ||
| Q4 24 | — | 765.9% | ||
| Q3 24 | 0.0% | 76.6% | ||
| Q2 24 | — | 131.0% | ||
| Q1 24 | — | 110.7% |
现金转化率FBIOWULF
| Q4 25 | — | — | ||
| Q3 25 | -1.04× | — | ||
| Q2 25 | -1.78× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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
