vs
FTAI Infrastructure Inc.（FIP）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
FTAI Infrastructure Inc.的季度营收约是再鼎医药的1.1倍（$143.5M vs $127.1M），FTAI Infrastructure Inc.同比增速更快（77.7% vs 17.1%），再鼎医药自由现金流更多（$-26.7M vs $-68.6M），过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% vs 20.8%）
FTAI基础设施有限公司持有、运营并投资交通物流、中游能源、发电等核心领域的优质关键基础设施资产，主要面向北美市场，聚焦拥有稳定长期现金流、合同约定收入流的项目，为利益相关方创造可持续回报。
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。
FIP vs ZLAB — 直观对比
营收规模更大
FIP
是对方的1.1倍
$127.1M
营收增速更快
FIP
高出60.6%
17.1%
自由现金流更多
ZLAB
多$41.9M
$-68.6M
两年增速更快
FIP
近两年复合增速
20.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $143.5M | $127.1M |
| 净利润 | $-97.7M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | -45.7% | -54.6% |
| 净利率 | -68.1% | — |
| 营收同比 | 77.7% | 17.1% |
| 净利润同比 | 21.6% | — |
| 每股收益（稀释后） | $-1.04 | $-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FIPZLAB
| Q4 25 | $143.5M | $127.1M | ||
| Q3 25 | $140.6M | $115.4M | ||
| Q2 25 | $122.3M | $109.1M | ||
| Q1 25 | $96.2M | $105.7M | ||
| Q4 24 | $80.8M | $108.5M | ||
| Q3 24 | $83.3M | $101.8M | ||
| Q2 24 | $84.9M | $100.1M | ||
| Q1 24 | $82.5M | $87.1M |
净利润FIPZLAB
| Q4 25 | $-97.7M | — | ||
| Q3 25 | $-104.5M | $-36.0M | ||
| Q2 25 | $-70.0M | $-40.7M | ||
| Q1 25 | $120.2M | $-48.4M | ||
| Q4 24 | $-124.7M | — | ||
| Q3 24 | $-43.0M | $-41.7M | ||
| Q2 24 | $-48.1M | $-80.3M | ||
| Q1 24 | $-50.3M | $-53.5M |
毛利率FIPZLAB
| 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FIPZLAB
| Q4 25 | -45.7% | -54.6% | ||
| Q3 25 | -70.8% | -42.3% | ||
| Q2 25 | -56.4% | -50.3% | ||
| Q1 25 | 81.8% | -53.3% | ||
| Q4 24 | -152.7% | -62.6% | ||
| Q3 24 | -51.7% | -66.6% | ||
| Q2 24 | -56.4% | -76.0% | ||
| Q1 24 | -58.8% | -80.7% |
净利率FIPZLAB
| Q4 25 | -68.1% | — | ||
| Q3 25 | -74.4% | -31.2% | ||
| Q2 25 | -57.2% | -37.3% | ||
| Q1 25 | 125.0% | -45.8% | ||
| Q4 24 | -154.4% | — | ||
| Q3 24 | -51.6% | -40.9% | ||
| Q2 24 | -56.7% | -80.2% | ||
| Q1 24 | -60.9% | -61.4% |
每股收益（稀释后）FIPZLAB
| Q4 25 | $-1.04 | $-0.05 | ||
| Q3 25 | $-1.38 | $-0.03 | ||
| Q2 25 | $-0.73 | $-0.04 | ||
| Q1 25 | $0.89 | $-0.04 | ||
| Q4 24 | $-1.21 | $-0.09 | ||
| Q3 24 | $-0.45 | $-0.04 | ||
| Q2 24 | $-0.52 | $-0.08 | ||
| Q1 24 | $-0.54 | $-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 | $57.4M | $689.6M |
| 总债务越低越好 | $3.8B | — |
| 股东权益账面价值 | $21.3M | $715.5M |
| 总资产 | $5.7B | $1.2B |
| 负债/权益比越低杠杆越低 | 176.99× | — |
8季度趋势，按日历期对齐
现金及短期投资FIPZLAB
| Q4 25 | $57.4M | $689.6M | ||
| Q3 25 | $34.7M | $717.2M | ||
| Q2 25 | $33.6M | $732.2M | ||
| Q1 25 | $26.3M | $757.3M | ||
| Q4 24 | $27.8M | $779.7M | ||
| Q3 24 | $20.3M | $616.1M | ||
| Q2 24 | $33.1M | $630.0M | ||
| Q1 24 | $23.0M | $650.8M |
总债务FIPZLAB
| Q4 25 | $3.8B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.6B | — | ||
| Q1 24 | $1.3B | — |
股东权益FIPZLAB
| Q4 25 | $21.3M | $715.5M | ||
| Q3 25 | $181.1M | $759.9M | ||
| Q2 25 | $375.5M | $791.7M | ||
| Q1 25 | $476.2M | $810.8M | ||
| Q4 24 | $202.7M | $840.9M | ||
| Q3 24 | $370.8M | $667.7M | ||
| Q2 24 | $394.8M | $704.2M | ||
| Q1 24 | $402.5M | $762.2M |
总资产FIPZLAB
| Q4 25 | $5.7B | $1.2B | ||
| Q3 25 | $5.5B | $1.2B | ||
| Q2 25 | $4.4B | $1.2B | ||
| Q1 25 | $4.1B | $1.2B | ||
| Q4 24 | $2.4B | $1.2B | ||
| Q3 24 | $2.4B | $985.3M | ||
| Q2 24 | $2.5B | $987.4M | ||
| Q1 24 | $2.3B | $988.4M |
负债/权益比FIPZLAB
| Q4 25 | 176.99× | — | ||
| Q3 25 | 20.59× | — | ||
| Q2 25 | 8.21× | — | ||
| Q1 25 | 5.79× | — | ||
| Q4 24 | 7.84× | — | ||
| Q3 24 | 4.14× | — | ||
| Q2 24 | 3.94× | — | ||
| Q1 24 | 3.34× | — |
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 | $-2.8M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-68.6M | $-26.7M |
| 自由现金流率自由现金流/营收 | -47.8% | -21.0% |
| 资本支出强度资本支出/营收 | 45.9% | 0.5% |
| 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 | $-398.5M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流FIPZLAB
| Q4 25 | $-2.8M | $-26.0M | ||
| Q3 25 | $-24.4M | $-32.0M | ||
| Q2 25 | $-5.2M | $-31.0M | ||
| Q1 25 | $-85.7M | $-61.7M | ||
| Q4 24 | $-8.1M | $-55.8M | ||
| Q3 24 | $14.2M | $-26.8M | ||
| Q2 24 | $-17.6M | $-42.2M | ||
| Q1 24 | $-3.9M | $-90.1M |
自由现金流FIPZLAB
| Q4 25 | $-68.6M | $-26.7M | ||
| Q3 25 | $-90.7M | $-35.0M | ||
| Q2 25 | $-87.5M | $-33.9M | ||
| Q1 25 | $-151.7M | $-63.2M | ||
| Q4 24 | $-34.3M | $-58.4M | ||
| Q3 24 | $-11.7M | $-28.2M | ||
| Q2 24 | $-32.1M | $-42.9M | ||
| Q1 24 | $-16.7M | $-91.1M |
自由现金流率FIPZLAB
| Q4 25 | -47.8% | -21.0% | ||
| Q3 25 | -64.5% | -30.4% | ||
| Q2 25 | -71.6% | -31.1% | ||
| Q1 25 | -157.7% | -59.9% | ||
| Q4 24 | -42.4% | -53.8% | ||
| Q3 24 | -14.0% | -27.7% | ||
| Q2 24 | -37.9% | -42.9% | ||
| Q1 24 | -20.3% | -104.5% |
资本支出强度FIPZLAB
| Q4 25 | 45.9% | 0.5% | ||
| Q3 25 | 47.2% | 2.6% | ||
| Q2 25 | 67.3% | 2.6% | ||
| Q1 25 | 68.6% | 1.5% | ||
| Q4 24 | 32.5% | 2.4% | ||
| Q3 24 | 31.1% | 1.3% | ||
| Q2 24 | 17.2% | 0.7% | ||
| Q1 24 | 15.6% | 1.1% |
现金转化率FIPZLAB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.71× | — | ||
| 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
业务分部营收拆解
FIP
| Power Revenues | $45.9M | 32% |
| Rail Revenue | $44.6M | 31% |
| Service Other | $22.8M | 16% |
| Gas Revenues | $15.3M | 11% |
| Roadside Services Revenues | $11.5M | 8% |
| Rapauno | $1.2M | 1% |
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% |
