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FIGS, Inc.（FIGS）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
FIGS, Inc.的季度营收约是再鼎医药的1.6倍（$201.9M vs $127.1M），FIGS, Inc.同比增速更快（33.0% vs 17.1%），FIGS, Inc.自由现金流更多（$58.1M vs $-26.7M），过去两年FIGS, Inc.的营收复合增速更高（30.1% vs 20.8%）
FIGS是一家总部位于美国加利福尼亚州圣莫尼卡的服饰企业，由希瑟·哈森与特里娜·斯皮尔于2013年共同创立，二人目前共同担任首席执行官。品牌专注为医疗从业者提供医用刷手服及相关专业产品，是医疗工装领域的知名品牌。
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。
FIGS vs ZLAB — 直观对比
营收规模更大
FIGS
是对方的1.6倍
$127.1M
营收增速更快
FIGS
高出15.9%
17.1%
自由现金流更多
FIGS
多$84.8M
$-26.7M
两年增速更快
FIGS
近两年复合增速
20.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $201.9M | $127.1M |
| 净利润 | $18.5M | — |
| 毛利率 | 62.9% | 51.0% |
| 营业利润率 | 9.3% | -54.6% |
| 净利率 | 9.2% | — |
| 营收同比 | 33.0% | 17.1% |
| 净利润同比 | 881.8% | — |
| 每股收益（稀释后） | $0.10 | $-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FIGSZLAB
| Q4 25 | $201.9M | $127.1M | ||
| Q3 25 | $151.7M | $115.4M | ||
| Q2 25 | $152.6M | $109.1M | ||
| Q1 25 | $124.9M | $105.7M | ||
| Q4 24 | $151.8M | $108.5M | ||
| Q3 24 | $140.2M | $101.8M | ||
| Q2 24 | $144.2M | $100.1M | ||
| Q1 24 | $119.3M | $87.1M |
净利润FIGSZLAB
| Q4 25 | $18.5M | — | ||
| Q3 25 | $8.7M | $-36.0M | ||
| Q2 25 | $7.1M | $-40.7M | ||
| Q1 25 | $-102.0K | $-48.4M | ||
| Q4 24 | $1.9M | — | ||
| Q3 24 | $-1.7M | $-41.7M | ||
| Q2 24 | $1.1M | $-80.3M | ||
| Q1 24 | $1.4M | $-53.5M |
毛利率FIGSZLAB
| Q4 25 | 62.9% | 51.0% | ||
| Q3 25 | 69.9% | 59.5% | ||
| Q2 25 | 67.0% | 60.6% | ||
| Q1 25 | 67.6% | 63.6% | ||
| Q4 24 | 67.3% | 61.5% | ||
| Q3 24 | 67.1% | 64.1% | ||
| Q2 24 | 67.4% | 64.9% | ||
| Q1 24 | 68.9% | 61.4% |
营业利润率FIGSZLAB
| Q4 25 | 9.3% | -54.6% | ||
| Q3 25 | 6.4% | -42.3% | ||
| Q2 25 | 6.5% | -50.3% | ||
| Q1 25 | -0.2% | -53.3% | ||
| Q4 24 | 5.9% | -62.6% | ||
| Q3 24 | -6.2% | -66.6% | ||
| Q2 24 | 1.1% | -76.0% | ||
| Q1 24 | 0.4% | -80.7% |
净利率FIGSZLAB
| Q4 25 | 9.2% | — | ||
| Q3 25 | 5.8% | -31.2% | ||
| Q2 25 | 4.7% | -37.3% | ||
| Q1 25 | -0.1% | -45.8% | ||
| Q4 24 | 1.2% | — | ||
| Q3 24 | -1.2% | -40.9% | ||
| Q2 24 | 0.8% | -80.2% | ||
| Q1 24 | 1.2% | -61.4% |
每股收益（稀释后）FIGSZLAB
| Q4 25 | $0.10 | $-0.05 | ||
| Q3 25 | $0.05 | $-0.03 | ||
| Q2 25 | $0.04 | $-0.04 | ||
| Q1 25 | $0.00 | $-0.04 | ||
| Q4 24 | $0.01 | $-0.09 | ||
| Q3 24 | $-0.01 | $-0.04 | ||
| Q2 24 | $0.01 | $-0.08 | ||
| Q1 24 | $0.01 | $-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 | $82.0M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $437.5M | $715.5M |
| 总资产 | $580.0M | $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FIGSZLAB
| Q4 25 | $82.0M | $689.6M | ||
| Q3 25 | $46.5M | $717.2M | ||
| Q2 25 | $50.8M | $732.2M | ||
| Q1 25 | $90.0M | $757.3M | ||
| Q4 24 | $85.6M | $779.7M | ||
| Q3 24 | $124.1M | $616.1M | ||
| Q2 24 | $131.8M | $630.0M | ||
| Q1 24 | $155.3M | $650.8M |
股东权益FIGSZLAB
| Q4 25 | $437.5M | $715.5M | ||
| Q3 25 | $413.3M | $759.9M | ||
| Q2 25 | $396.5M | $791.7M | ||
| Q1 25 | $381.5M | $810.8M | ||
| Q4 24 | $377.1M | $840.9M | ||
| Q3 24 | $403.5M | $667.7M | ||
| Q2 24 | $401.7M | $704.2M | ||
| Q1 24 | $389.9M | $762.2M |
总资产FIGSZLAB
| Q4 25 | $580.0M | $1.2B | ||
| Q3 25 | $544.7M | $1.2B | ||
| Q2 25 | $517.1M | $1.2B | ||
| Q1 25 | $522.3M | $1.2B | ||
| Q4 24 | $509.8M | $1.2B | ||
| Q3 24 | $542.5M | $985.3M | ||
| Q2 24 | $526.0M | $987.4M | ||
| Q1 24 | $510.9M | $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 | $60.9M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $58.1M | $-26.7M |
| 自由现金流率自由现金流/营收 | 28.8% | -21.0% |
| 资本支出强度资本支出/营收 | 1.4% | 0.5% |
| 现金转化率经营现金流/净利润 | 3.29× | — |
| 过去12个月自由现金流最近4个季度 | $53.0M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流FIGSZLAB
| Q4 25 | $60.9M | $-26.0M | ||
| Q3 25 | $3.4M | $-32.0M | ||
| Q2 25 | $-12.4M | $-31.0M | ||
| Q1 25 | $9.2M | $-61.7M | ||
| Q4 24 | $30.4M | $-55.8M | ||
| Q3 24 | $22.6M | $-26.8M | ||
| Q2 24 | $16.5M | $-42.2M | ||
| Q1 24 | $11.6M | $-90.1M |
自由现金流FIGSZLAB
| Q4 25 | $58.1M | $-26.7M | ||
| Q3 25 | $531.0K | $-35.0M | ||
| Q2 25 | $-13.5M | $-33.9M | ||
| Q1 25 | $7.9M | $-63.2M | ||
| Q4 24 | $27.1M | $-58.4M | ||
| Q3 24 | $18.4M | $-28.2M | ||
| Q2 24 | $7.5M | $-42.9M | ||
| Q1 24 | $11.1M | $-91.1M |
自由现金流率FIGSZLAB
| Q4 25 | 28.8% | -21.0% | ||
| Q3 25 | 0.4% | -30.4% | ||
| Q2 25 | -8.9% | -31.1% | ||
| Q1 25 | 6.3% | -59.9% | ||
| Q4 24 | 17.8% | -53.8% | ||
| Q3 24 | 13.1% | -27.7% | ||
| Q2 24 | 5.2% | -42.9% | ||
| Q1 24 | 9.3% | -104.5% |
资本支出强度FIGSZLAB
| Q4 25 | 1.4% | 0.5% | ||
| Q3 25 | 1.9% | 2.6% | ||
| Q2 25 | 0.7% | 2.6% | ||
| Q1 25 | 1.0% | 1.5% | ||
| Q4 24 | 2.2% | 2.4% | ||
| Q3 24 | 3.0% | 1.3% | ||
| Q2 24 | 6.2% | 0.7% | ||
| Q1 24 | 0.4% | 1.1% |
现金转化率FIGSZLAB
| Q4 25 | 3.29× | — | ||
| Q3 25 | 0.39× | — | ||
| Q2 25 | -1.75× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 16.14× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 15.04× | — | ||
| Q1 24 | 8.10× | — |
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
FIGS
| Scrubwear | $154.9M | 77% |
| Non Scrubwear Lifestyle | $47.0M | 23% |
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% |
