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FORMFACTOR INC（FORM）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
FORMFACTOR INC的季度营收约是再鼎医药的1.8倍（$226.1M vs $127.1M），FORMFACTOR INC同比增速更快（32.0% vs 17.1%），FORMFACTOR INC自由现金流更多（$30.7M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 7.0%）
FormFactor Inc.总部位于美国加利福尼亚州利弗莫尔，是集成电路测试测量技术领域的知名供应商，面向半导体行业客户提供各类专业产品，助力客户优化器件性能，提升芯片研发与生产环节的测试效率。
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。
FORM vs ZLAB — 直观对比
营收规模更大
FORM
是对方的1.8倍
$127.1M
营收增速更快
FORM
高出14.9%
17.1%
自由现金流更多
FORM
多$57.4M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
7.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $226.1M | $127.1M |
| 净利润 | $20.4M | — |
| 毛利率 | 38.4% | 51.0% |
| 营业利润率 | 7.4% | -54.6% |
| 净利率 | 9.0% | — |
| 营收同比 | 32.0% | 17.1% |
| 净利润同比 | 218.5% | — |
| 每股收益（稀释后） | $0.26 | $-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FORMZLAB
| Q1 26 | $226.1M | — | ||
| Q4 25 | $215.2M | $127.1M | ||
| Q3 25 | $202.7M | $115.4M | ||
| Q2 25 | $195.8M | $109.1M | ||
| Q1 25 | $171.4M | $105.7M | ||
| Q4 24 | $189.5M | $108.5M | ||
| Q3 24 | $207.9M | $101.8M | ||
| Q2 24 | $197.5M | $100.1M |
净利润FORMZLAB
| Q1 26 | $20.4M | — | ||
| Q4 25 | $23.2M | — | ||
| Q3 25 | $15.7M | $-36.0M | ||
| Q2 25 | $9.1M | $-40.7M | ||
| Q1 25 | $6.4M | $-48.4M | ||
| Q4 24 | $9.7M | — | ||
| Q3 24 | $18.7M | $-41.7M | ||
| Q2 24 | $19.4M | $-80.3M |
毛利率FORMZLAB
| Q1 26 | 38.4% | — | ||
| Q4 25 | 42.2% | 51.0% | ||
| Q3 25 | 39.8% | 59.5% | ||
| Q2 25 | 37.3% | 60.6% | ||
| Q1 25 | 37.7% | 63.6% | ||
| Q4 24 | 38.8% | 61.5% | ||
| Q3 24 | 40.7% | 64.1% | ||
| Q2 24 | 44.0% | 64.9% |
营业利润率FORMZLAB
| Q1 26 | 7.4% | — | ||
| Q4 25 | 10.9% | -54.6% | ||
| Q3 25 | 8.9% | -42.3% | ||
| Q2 25 | 6.3% | -50.3% | ||
| Q1 25 | 1.9% | -53.3% | ||
| Q4 24 | 4.1% | -62.6% | ||
| Q3 24 | 8.6% | -66.6% | ||
| Q2 24 | 9.0% | -76.0% |
净利率FORMZLAB
| Q1 26 | 9.0% | — | ||
| Q4 25 | 10.8% | — | ||
| Q3 25 | 7.7% | -31.2% | ||
| Q2 25 | 4.6% | -37.3% | ||
| Q1 25 | 3.7% | -45.8% | ||
| Q4 24 | 5.1% | — | ||
| Q3 24 | 9.0% | -40.9% | ||
| Q2 24 | 9.8% | -80.2% |
每股收益（稀释后）FORMZLAB
| Q1 26 | $0.26 | — | ||
| Q4 25 | $0.29 | $-0.05 | ||
| Q3 25 | $0.20 | $-0.03 | ||
| Q2 25 | $0.12 | $-0.04 | ||
| Q1 25 | $0.08 | $-0.04 | ||
| Q4 24 | $0.12 | $-0.09 | ||
| Q3 24 | $0.24 | $-0.04 | ||
| Q2 24 | $0.25 | $-0.08 |
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 | $123.5M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.1B | $715.5M |
| 总资产 | $1.3B | $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FORMZLAB
| Q1 26 | $123.5M | — | ||
| Q4 25 | $103.3M | $689.6M | ||
| Q3 25 | $266.0M | $717.2M | ||
| Q2 25 | $249.3M | $732.2M | ||
| Q1 25 | $299.0M | $757.3M | ||
| Q4 24 | $360.0M | $779.7M | ||
| Q3 24 | $354.5M | $616.1M | ||
| Q2 24 | $357.6M | $630.0M |
总债务FORMZLAB
| Q1 26 | — | — | ||
| Q4 25 | $12.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $13.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FORMZLAB
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.0B | $715.5M | ||
| Q3 25 | $1.0B | $759.9M | ||
| Q2 25 | $990.0M | $791.7M | ||
| Q1 25 | $965.9M | $810.8M | ||
| Q4 24 | $947.8M | $840.9M | ||
| Q3 24 | $955.0M | $667.7M | ||
| Q2 24 | $947.9M | $704.2M |
总资产FORMZLAB
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $1.2B | $985.3M | ||
| Q2 24 | $1.2B | $987.4M |
负债/权益比FORMZLAB
| Q1 26 | — | — | ||
| Q4 25 | 0.01× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $45.0M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $30.7M | $-26.7M |
| 自由现金流率自由现金流/营收 | 13.6% | -21.0% |
| 资本支出强度资本支出/营收 | 6.7% | 0.5% |
| 现金转化率经营现金流/净利润 | 2.21× | — |
| 过去12个月自由现金流最近4个季度 | $37.5M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流FORMZLAB
| Q1 26 | $45.0M | — | ||
| Q4 25 | $46.0M | $-26.0M | ||
| Q3 25 | $27.0M | $-32.0M | ||
| Q2 25 | $18.9M | $-31.0M | ||
| Q1 25 | $23.5M | $-61.7M | ||
| Q4 24 | $35.9M | $-55.8M | ||
| Q3 24 | $26.7M | $-26.8M | ||
| Q2 24 | $21.9M | $-42.2M |
自由现金流FORMZLAB
| Q1 26 | $30.7M | — | ||
| Q4 25 | $34.7M | $-26.7M | ||
| Q3 25 | $19.5M | $-35.0M | ||
| Q2 25 | $-47.4M | $-33.9M | ||
| Q1 25 | $5.0M | $-63.2M | ||
| Q4 24 | $28.3M | $-58.4M | ||
| Q3 24 | $17.8M | $-28.2M | ||
| Q2 24 | $13.5M | $-42.9M |
自由现金流率FORMZLAB
| Q1 26 | 13.6% | — | ||
| Q4 25 | 16.1% | -21.0% | ||
| Q3 25 | 9.6% | -30.4% | ||
| Q2 25 | -24.2% | -31.1% | ||
| Q1 25 | 2.9% | -59.9% | ||
| Q4 24 | 14.9% | -53.8% | ||
| Q3 24 | 8.6% | -27.7% | ||
| Q2 24 | 6.8% | -42.9% |
资本支出强度FORMZLAB
| Q1 26 | 6.7% | — | ||
| Q4 25 | 5.3% | 0.5% | ||
| Q3 25 | 3.7% | 2.6% | ||
| Q2 25 | 33.8% | 2.6% | ||
| Q1 25 | 10.8% | 1.5% | ||
| Q4 24 | 4.0% | 2.4% | ||
| Q3 24 | 4.3% | 1.3% | ||
| Q2 24 | 4.3% | 0.7% |
现金转化率FORMZLAB
| Q1 26 | 2.21× | — | ||
| Q4 25 | 1.98× | — | ||
| Q3 25 | 1.72× | — | ||
| Q2 25 | 2.08× | — | ||
| Q1 25 | 3.68× | — | ||
| Q4 24 | 3.70× | — | ||
| Q3 24 | 1.43× | — | ||
| Q2 24 | 1.13× | — |
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
FORM
暂无分部数据
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% |
