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FIRST MERCHANTS CORP（FRME）与REPLIGEN CORP（RGEN）财务数据对比。点击上方公司名可切换其他公司
REPLIGEN CORP的季度营收约是FIRST MERCHANTS CORP的1.3倍（$197.9M vs $157.1M），FIRST MERCHANTS CORP净利率更高（17.9% vs 6.7%，领先11.2%），过去两年REPLIGEN CORP的营收复合增速更高（14.4% vs -0.9%）
第一商人集团是总部位于美国印第安纳州曼西的金融控股公司，业务覆盖印第安纳州中部地区，旗下拥有第一商人银行、第一商人私人财富顾问两大板块，在纳斯达克上市，股票代码为FRME。截至2023年3月，集团总资产达182亿美元，为客户提供商业银行、个人银行及投资顾问服务。
Repligen是一家全球生命科学企业，专注于创新生物工艺技术与系统的研发及商业化，助力提升生物药生产效率。公司1981年成立，总部位于美国马萨诸塞州沃尔瑟姆，于纳斯达克挂牌上市，股票代码RGEN，截至2025年全球员工超1900人，主要服务生物制药领域客户。
FRME vs RGEN — 直观对比
营收规模更大
RGEN
是对方的1.3倍
$157.1M
净利率更高
FRME
高出11.2%
6.7%
两年增速更快
RGEN
近两年复合增速
-0.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $157.1M | $197.9M |
| 净利润 | $28.2M | $13.3M |
| 毛利率 | — | 52.5% |
| 营业利润率 | — | 9.0% |
| 净利率 | 17.9% | 6.7% |
| 营收同比 | — | 13.6% |
| 净利润同比 | -49.1% | 143.9% |
| 每股收益（稀释后） | $0.45 | $0.24 |
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FRMERGEN
| Q1 26 | $157.1M | — | ||
| Q4 25 | $172.2M | $197.9M | ||
| Q3 25 | $166.1M | $188.8M | ||
| Q2 25 | $164.3M | $182.4M | ||
| Q1 25 | $160.3M | $169.2M | ||
| Q4 24 | $177.1M | $174.1M | ||
| Q3 24 | $156.0M | $154.9M | ||
| Q2 24 | $159.9M | $154.1M |
净利润FRMERGEN
| Q1 26 | $28.2M | — | ||
| Q4 25 | $57.1M | $13.3M | ||
| Q3 25 | $56.8M | $14.9M | ||
| Q2 25 | $56.8M | $14.9M | ||
| Q1 25 | $55.3M | $5.8M | ||
| Q4 24 | $64.3M | $-30.3M | ||
| Q3 24 | $49.2M | $-654.0K | ||
| Q2 24 | $39.9M | $3.3M |
毛利率FRMERGEN
| Q1 26 | — | — | ||
| Q4 25 | — | 52.5% | ||
| Q3 25 | — | 53.2% | ||
| Q2 25 | — | 50.0% | ||
| Q1 25 | — | 53.6% | ||
| Q4 24 | — | 26.1% | ||
| Q3 24 | — | 50.0% | ||
| Q2 24 | — | 49.8% |
营业利润率FRMERGEN
| Q1 26 | — | — | ||
| Q4 25 | 38.0% | 9.0% | ||
| Q3 25 | 39.3% | 8.9% | ||
| Q2 25 | 39.6% | 7.6% | ||
| Q1 25 | 39.4% | 3.9% | ||
| Q4 24 | 43.3% | -17.7% | ||
| Q3 24 | 36.1% | -5.1% | ||
| Q2 24 | 27.5% | 1.0% |
净利率FRMERGEN
| Q1 26 | 17.9% | — | ||
| Q4 25 | 33.1% | 6.7% | ||
| Q3 25 | 34.2% | 7.9% | ||
| Q2 25 | 34.6% | 8.2% | ||
| Q1 25 | 34.5% | 3.4% | ||
| Q4 24 | 36.3% | -17.4% | ||
| Q3 24 | 31.5% | -0.4% | ||
| Q2 24 | 25.0% | 2.2% |
每股收益（稀释后）FRMERGEN
| Q1 26 | $0.45 | — | ||
| Q4 25 | $0.98 | $0.24 | ||
| Q3 25 | $0.98 | $0.26 | ||
| Q2 25 | $0.98 | $0.26 | ||
| Q1 25 | $0.94 | $0.10 | ||
| Q4 24 | $1.09 | $-0.55 | ||
| Q3 24 | $0.84 | $-0.01 | ||
| Q2 24 | $0.68 | $0.06 |
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 | — | $767.6M |
| 总债务越低越好 | — | $542.2M |
| 股东权益账面价值 | $2.7B | $2.1B |
| 总资产 | $21.1B | $2.9B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资FRMERGEN
| Q1 26 | — | — | ||
| Q4 25 | — | $767.6M | ||
| Q3 25 | — | $748.7M | ||
| Q2 25 | — | $708.9M | ||
| Q1 25 | — | $697.2M | ||
| Q4 24 | — | $757.4M | ||
| Q3 24 | — | $784.0M | ||
| Q2 24 | — | $809.1M |
总债务FRMERGEN
| Q1 26 | — | — | ||
| Q4 25 | — | $542.2M | ||
| Q3 25 | — | $537.9M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $525.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FRMERGEN
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.5B | $2.1B | ||
| Q3 25 | $2.4B | $2.1B | ||
| Q2 25 | $2.3B | $2.1B | ||
| Q1 25 | $2.3B | $2.0B | ||
| Q4 24 | $2.3B | $2.0B | ||
| Q3 24 | $2.3B | $2.0B | ||
| Q2 24 | $2.2B | $2.0B |
总资产FRMERGEN
| Q1 26 | $21.1B | — | ||
| Q4 25 | $19.0B | $2.9B | ||
| Q3 25 | $18.8B | $2.9B | ||
| Q2 25 | $18.6B | $2.9B | ||
| Q1 25 | $18.4B | $2.9B | ||
| Q4 24 | $18.3B | $2.8B | ||
| Q3 24 | $18.3B | $2.8B | ||
| Q2 24 | $18.3B | $2.9B |
负债/权益比FRMERGEN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.27× | ||
| 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 | — | $25.7M |
| 自由现金流经营现金流 - 资本支出 | — | $17.6M |
| 自由现金流率自由现金流/营收 | — | 8.9% |
| 资本支出强度资本支出/营收 | — | 4.1% |
| 现金转化率经营现金流/净利润 | — | 1.93× |
| 过去12个月自由现金流最近4个季度 | — | $93.9M |
8季度趋势，按日历期对齐
经营现金流FRMERGEN
| Q1 26 | — | — | ||
| Q4 25 | $283.6M | $25.7M | ||
| Q3 25 | $87.6M | $48.1M | ||
| Q2 25 | $53.7M | $28.6M | ||
| Q1 25 | $61.7M | $15.0M | ||
| Q4 24 | $266.2M | $39.2M | ||
| Q3 24 | $76.8M | $49.3M | ||
| Q2 24 | $63.0M | $42.2M |
自由现金流FRMERGEN
| Q1 26 | — | — | ||
| Q4 25 | — | $17.6M | ||
| Q3 25 | — | $43.4M | ||
| Q2 25 | — | $21.5M | ||
| Q1 25 | — | $11.4M | ||
| Q4 24 | — | $33.6M | ||
| Q3 24 | — | $42.3M | ||
| Q2 24 | — | $37.4M |
自由现金流率FRMERGEN
| Q1 26 | — | — | ||
| Q4 25 | — | 8.9% | ||
| Q3 25 | — | 23.0% | ||
| Q2 25 | — | 11.8% | ||
| Q1 25 | — | 6.8% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 27.3% | ||
| Q2 24 | — | 24.3% |
资本支出强度FRMERGEN
| Q1 26 | — | — | ||
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | — | 3.1% |
现金转化率FRMERGEN
| Q1 26 | — | — | ||
| Q4 25 | 4.97× | 1.93× | ||
| Q3 25 | 1.54× | 3.23× | ||
| Q2 25 | 0.94× | 1.92× | ||
| Q1 25 | 1.11× | 2.57× | ||
| Q4 24 | 4.14× | — | ||
| Q3 24 | 1.56× | — | ||
| Q2 24 | 1.58× | 12.70× |
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
FRME
| Net Interest Income | $151.3M | 96% |
| Noninterest Income | $5.8M | 4% |
RGEN
暂无分部数据
