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合众银行（FSBC）与STEM, INC.（STEM）财务数据对比。点击上方公司名可切换其他公司
STEM, INC.的季度营收约是合众银行的1.0倍（$47.1M vs $45.1M），合众银行净利率更高（41.3% vs -33.9%，领先75.2%），过去两年STEM, INC.的营收复合增速更高（36.1% vs 21.3%）
合众银行是总部设在美国明尼阿波利斯、在特拉华州注册的美国跨国银行机构，截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为具有系统重要性的银行。它旗下核心运营实体为美国银行全国协会，以US Bank品牌开展业务，提供银行、投资、抵押等金融服务。
该公司是一家公开上市的生物制药企业，总部位于加利福尼亚州纽瓦克，专注研发纯化人类神经干细胞，旨在治疗中枢神经系统疾病与瘫痪，其所研发的神经干细胞可分化为中枢神经系统的神经元、星形胶质细胞与少突胶质细胞这三大主要细胞类型。
FSBC vs STEM — 直观对比
营收规模更大
STEM
是对方的1.0倍
$45.1M
净利率更高
FSBC
高出75.2%
-33.9%
两年增速更快
STEM
近两年复合增速
21.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $45.1M | $47.1M |
| 净利润 | $18.6M | $-16.0M |
| 毛利率 | — | 48.9% |
| 营业利润率 | — | -17.7% |
| 净利率 | 41.3% | -33.9% |
| 营收同比 | — | -15.6% |
| 净利润同比 | 42.0% | 68.8% |
| 每股收益（稀释后） | $0.87 | $-4.40 |
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FSBCSTEM
| Q1 26 | $45.1M | — | ||
| Q4 25 | $43.5M | $47.1M | ||
| Q3 25 | $41.3M | $38.2M | ||
| Q2 25 | $38.3M | $38.4M | ||
| Q1 25 | $35.3M | $32.5M | ||
| Q4 24 | $35.2M | $55.8M | ||
| Q3 24 | $31.8M | $29.3M | ||
| Q2 24 | $30.7M | $34.0M |
净利润FSBCSTEM
| Q1 26 | $18.6M | — | ||
| Q4 25 | $17.6M | $-16.0M | ||
| Q3 25 | $16.3M | $-23.8M | ||
| Q2 25 | $14.5M | $202.5M | ||
| Q1 25 | $13.1M | $-25.0M | ||
| Q4 24 | $13.3M | $-51.1M | ||
| Q3 24 | $10.9M | $-148.3M | ||
| Q2 24 | $10.8M | $-582.3M |
毛利率FSBCSTEM
| Q1 26 | — | — | ||
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% |
营业利润率FSBCSTEM
| Q1 26 | — | — | ||
| Q4 25 | 52.9% | -17.7% | ||
| Q3 25 | 53.8% | -33.6% | ||
| Q2 25 | 52.4% | -34.8% | ||
| Q1 25 | 52.0% | -65.0% | ||
| Q4 24 | 55.1% | -84.4% | ||
| Q3 24 | 48.0% | -493.2% | ||
| Q2 24 | 49.4% | -1705.5% |
净利率FSBCSTEM
| Q1 26 | 41.3% | — | ||
| Q4 25 | 40.6% | -33.9% | ||
| Q3 25 | 39.6% | -62.2% | ||
| Q2 25 | 37.9% | 527.8% | ||
| Q1 25 | 37.1% | -76.9% | ||
| Q4 24 | 37.9% | -91.6% | ||
| Q3 24 | 34.4% | -506.3% | ||
| Q2 24 | 35.2% | -1712.6% |
每股收益（稀释后）FSBCSTEM
| Q1 26 | $0.87 | — | ||
| Q4 25 | $0.83 | $-4.40 | ||
| Q3 25 | $0.77 | $-2.84 | ||
| Q2 25 | $0.68 | $-1.79 | ||
| Q1 25 | $0.62 | $-0.15 | ||
| Q4 24 | $0.61 | $-15.29 | ||
| Q3 24 | $0.52 | $-18.24 | ||
| Q2 24 | $0.51 | $-71.81 |
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 | $644.4M | $48.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $458.5M | $-249.4M |
| 总资产 | $5.0B | $308.9M |
| 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FSBCSTEM
| Q1 26 | $644.4M | — | ||
| Q4 25 | — | $48.9M | ||
| Q3 25 | — | $43.1M | ||
| Q2 25 | — | $40.8M | ||
| Q1 25 | — | $58.6M | ||
| Q4 24 | — | $56.3M | ||
| Q3 24 | — | $75.4M | ||
| Q2 24 | — | $89.6M |
股东权益FSBCSTEM
| Q1 26 | $458.5M | — | ||
| Q4 25 | $445.8M | $-249.4M | ||
| Q3 25 | $431.3M | $-235.7M | ||
| Q2 25 | $416.7M | $-214.1M | ||
| Q1 25 | $406.5M | $-417.5M | ||
| Q4 24 | $396.6M | $-398.4M | ||
| Q3 24 | $389.9M | $-344.1M | ||
| Q2 24 | $380.5M | $-203.2M |
总资产FSBCSTEM
| Q1 26 | $5.0B | — | ||
| Q4 25 | $4.8B | $308.9M | ||
| Q3 25 | $4.6B | $362.6M | ||
| Q2 25 | $4.4B | $379.2M | ||
| Q1 25 | $4.2B | $405.1M | ||
| Q4 24 | $4.1B | $437.4M | ||
| Q3 24 | $3.9B | $537.8M | ||
| Q2 24 | $3.6B | $691.5M |
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 | — | $8.2M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流FSBCSTEM
| Q1 26 | — | — | ||
| Q4 25 | $72.6M | $8.2M | ||
| Q3 25 | $18.8M | $11.4M | ||
| Q2 25 | $17.8M | $-21.3M | ||
| Q1 25 | $15.5M | $8.5M | ||
| Q4 24 | $51.8M | $-14.7M | ||
| Q3 24 | $17.5M | $-9.4M | ||
| Q2 24 | $16.0M | $-11.9M |
自由现金流FSBCSTEM
| Q1 26 | — | — | ||
| Q4 25 | $71.4M | — | ||
| Q3 25 | $18.6M | — | ||
| Q2 25 | $17.5M | — | ||
| Q1 25 | $15.4M | — | ||
| Q4 24 | $51.2M | — | ||
| Q3 24 | $17.3M | — | ||
| Q2 24 | $15.8M | — |
自由现金流率FSBCSTEM
| Q1 26 | — | — | ||
| Q4 25 | 164.3% | — | ||
| Q3 25 | 45.0% | — | ||
| Q2 25 | 45.8% | — | ||
| Q1 25 | 43.5% | — | ||
| Q4 24 | 145.5% | — | ||
| Q3 24 | 54.5% | — | ||
| Q2 24 | 51.6% | — |
资本支出强度FSBCSTEM
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 0.7% | — |
现金转化率FSBCSTEM
| Q1 26 | — | — | ||
| Q4 25 | 4.12× | — | ||
| Q3 25 | 1.15× | — | ||
| Q2 25 | 1.23× | -0.11× | ||
| Q1 25 | 1.18× | — | ||
| Q4 24 | 3.89× | — | ||
| Q3 24 | 1.60× | — | ||
| Q2 24 | 1.49× | — |
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
FSBC
| Net Interest Income | $43.5M | 96% |
| Noninterest Income | $1.6M | 4% |
STEM
暂无分部数据
