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Fathom Holdings Inc.（FTHM）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
再鼎医药的季度营收约是Fathom Holdings Inc.的1.4倍（$127.1M vs $90.6M），再鼎医药同比增速更快（17.1% vs -1.2%），Fathom Holdings Inc.自由现金流更多（$-20.7M vs $-26.7M），过去两年再鼎医药的营收复合增速更高（20.8% vs 13.4%）
Fathom Holdings Inc.是一家总部位于美国的房地产科技与服务企业，为房产经纪人、经纪机构和消费者提供数字交易管理、按揭服务、产权保险、住宅经纪等一站式解决方案，业务覆盖美国大部分区域市场。
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。
FTHM vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.4倍
$90.6M
营收增速更快
ZLAB
高出18.4%
-1.2%
自由现金流更多
FTHM
多$6.0M
$-26.7M
两年增速更快
ZLAB
近两年复合增速
13.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $90.6M | $127.1M |
| 净利润 | $-6.7M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | -5.2% | -54.6% |
| 净利率 | -7.4% | — |
| 营收同比 | -1.2% | 17.1% |
| 净利润同比 | -7.7% | — |
| 每股收益（稀释后） | $-0.20 | $-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FTHMZLAB
| Q4 25 | $90.6M | $127.1M | ||
| Q3 25 | $115.3M | $115.4M | ||
| Q2 25 | $121.4M | $109.1M | ||
| Q1 25 | $93.1M | $105.7M | ||
| Q4 24 | $91.7M | $108.5M | ||
| Q3 24 | $83.7M | $101.8M | ||
| Q2 24 | $89.2M | $100.1M | ||
| Q1 24 | $70.5M | $87.1M |
净利润FTHMZLAB
| Q4 25 | $-6.7M | — | ||
| Q3 25 | $-4.4M | $-36.0M | ||
| Q2 25 | $-3.6M | $-40.7M | ||
| Q1 25 | $-5.6M | $-48.4M | ||
| Q4 24 | $-6.2M | — | ||
| Q3 24 | $-8.1M | $-41.7M | ||
| Q2 24 | $-1.3M | $-80.3M | ||
| Q1 24 | $-5.9M | $-53.5M |
毛利率FTHMZLAB
| 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FTHMZLAB
| Q4 25 | -5.2% | -54.6% | ||
| Q3 25 | -3.5% | -42.3% | ||
| Q2 25 | -2.0% | -50.3% | ||
| Q1 25 | -4.8% | -53.3% | ||
| Q4 24 | -7.0% | -62.6% | ||
| Q3 24 | -9.3% | -66.6% | ||
| Q2 24 | -4.1% | -76.0% | ||
| Q1 24 | -8.0% | -80.7% |
净利率FTHMZLAB
| Q4 25 | -7.4% | — | ||
| Q3 25 | -3.8% | -31.2% | ||
| Q2 25 | -3.0% | -37.3% | ||
| Q1 25 | -6.1% | -45.8% | ||
| Q4 24 | -6.8% | — | ||
| Q3 24 | -9.7% | -40.9% | ||
| Q2 24 | -1.5% | -80.2% | ||
| Q1 24 | -8.4% | -61.4% |
每股收益（稀释后）FTHMZLAB
| Q4 25 | $-0.20 | $-0.05 | ||
| Q3 25 | $-0.15 | $-0.03 | ||
| Q2 25 | $-0.13 | $-0.04 | ||
| Q1 25 | $-0.24 | $-0.04 | ||
| Q4 24 | $-0.29 | $-0.09 | ||
| Q3 24 | $-0.40 | $-0.04 | ||
| Q2 24 | $-0.07 | $-0.08 | ||
| Q1 24 | $-0.31 | $-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 | $5.8M | $689.6M |
| 总债务越低越好 | $5.6M | — |
| 股东权益账面价值 | $37.4M | $715.5M |
| 总资产 | $78.0M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.15× | — |
8季度趋势，按日历期对齐
现金及短期投资FTHMZLAB
| Q4 25 | $5.8M | $689.6M | ||
| Q3 25 | $9.8M | $717.2M | ||
| Q2 25 | $4.9M | $732.2M | ||
| Q1 25 | $8.0M | $757.3M | ||
| Q4 24 | $7.1M | $779.7M | ||
| Q3 24 | $13.1M | $616.1M | ||
| Q2 24 | $10.4M | $630.0M | ||
| Q1 24 | $5.7M | $650.8M |
总债务FTHMZLAB
| Q4 25 | $5.6M | — | ||
| Q3 25 | $5.1M | — | ||
| Q2 25 | $5.1M | — | ||
| Q1 25 | $5.1M | — | ||
| Q4 24 | $9.5M | — | ||
| Q3 24 | $8.8M | — | ||
| Q2 24 | $3.6M | — | ||
| Q1 24 | $3.7M | — |
股东权益FTHMZLAB
| Q4 25 | $37.4M | $715.5M | ||
| Q3 25 | $43.4M | $759.9M | ||
| Q2 25 | $40.7M | $791.7M | ||
| Q1 25 | $43.4M | $810.8M | ||
| Q4 24 | $44.7M | $840.9M | ||
| Q3 24 | $47.1M | $667.7M | ||
| Q2 24 | $53.1M | $704.2M | ||
| Q1 24 | $51.9M | $762.2M |
总资产FTHMZLAB
| Q4 25 | $78.0M | $1.2B | ||
| Q3 25 | $83.2M | $1.2B | ||
| Q2 25 | $80.4M | $1.2B | ||
| Q1 25 | $81.0M | $1.2B | ||
| Q4 24 | $75.4M | $1.2B | ||
| Q3 24 | $80.9M | $985.3M | ||
| Q2 24 | $80.2M | $987.4M | ||
| Q1 24 | $78.2M | $988.4M |
负债/权益比FTHMZLAB
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.12× | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | 0.19× | — | ||
| Q2 24 | 0.07× | — | ||
| Q1 24 | 0.07× | — |
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 | $-20.5M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-20.7M | $-26.7M |
| 自由现金流率自由现金流/营收 | -22.8% | -21.0% |
| 资本支出强度资本支出/营收 | 0.1% | 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 | $-29.4M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流FTHMZLAB
| Q4 25 | $-20.5M | $-26.0M | ||
| Q3 25 | $3.0M | $-32.0M | ||
| Q2 25 | $-5.9M | $-31.0M | ||
| Q1 25 | $-5.7M | $-61.7M | ||
| Q4 24 | $-4.7M | $-55.8M | ||
| Q3 24 | $-330.0K | $-26.8M | ||
| Q2 24 | $-3.1M | $-42.2M | ||
| Q1 24 | $-947.0K | $-90.1M |
自由现金流FTHMZLAB
| Q4 25 | $-20.7M | $-26.7M | ||
| Q3 25 | $3.0M | $-35.0M | ||
| Q2 25 | $-6.0M | $-33.9M | ||
| Q1 25 | $-5.8M | $-63.2M | ||
| Q4 24 | $-4.7M | $-58.4M | ||
| Q3 24 | $-364.0K | $-28.2M | ||
| Q2 24 | $-3.1M | $-42.9M | ||
| Q1 24 | $-948.0K | $-91.1M |
自由现金流率FTHMZLAB
| Q4 25 | -22.8% | -21.0% | ||
| Q3 25 | 2.6% | -30.4% | ||
| Q2 25 | -4.9% | -31.1% | ||
| Q1 25 | -6.2% | -59.9% | ||
| Q4 24 | -5.2% | -53.8% | ||
| Q3 24 | -0.4% | -27.7% | ||
| Q2 24 | -3.5% | -42.9% | ||
| Q1 24 | -1.3% | -104.5% |
资本支出强度FTHMZLAB
| Q4 25 | 0.1% | 0.5% | ||
| Q3 25 | 0.0% | 2.6% | ||
| Q2 25 | 0.0% | 2.6% | ||
| Q1 25 | 0.0% | 1.5% | ||
| Q4 24 | 0.1% | 2.4% | ||
| Q3 24 | 0.0% | 1.3% | ||
| Q2 24 | 0.0% | 0.7% | ||
| Q1 24 | 0.0% | 1.1% |
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
FTHM
| Real Estate Brokerage | $84.9M | 94% |
| Mortgage Segment | $3.4M | 4% |
| Other | $2.3M | 3% |
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% |
