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Guardant Health, Inc.（GH）与GRAIL, Inc.（GRAL）财务数据对比。点击上方公司名可切换其他公司
Guardant Health, Inc.的季度营收约是GRAIL, Inc.的6.5倍（$281.3M vs $43.6M）。Guardant Health, Inc.净利率更高（-45.7% vs -227.5%，领先181.8%）。Guardant Health, Inc.同比增速更快（39.4% vs 14.0%）。Guardant Health, Inc.自由现金流更多（$-54.2M vs $-63.9M）。过去两年Guardant Health, Inc.的营收复合增速更高（29.2% vs 27.7%）
Guardant Health, Inc.是总部位于美国加利福尼亚州帕洛阿尔托的生物技术企业，由Helmy Eltoukhy与AmirAli Talasaz联合创立，目前二人共同出任公司首席执行官，统筹公司战略规划与日常运营管理工作。
GRAIL是2015年成立的美国生物技术企业，总部位于加利福尼亚州门洛帕克，核心业务是研发面向无症状人群的癌症早期筛查检测产品。该公司最初是基因测序企业Illumina旗下的初创子公司，2021年被Illumina全资收购。
GH vs GRAL — 直观对比
营收规模更大
GH
是对方的6.5倍
$43.6M
营收增速更快
GH
高出25.4%
14.0%
净利率更高
GH
高出181.8%
-227.5%
自由现金流更多
GH
多$9.7M
$-63.9M
两年增速更快
GH
近两年复合增速
27.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $281.3M | $43.6M |
| 净利润 | $-128.5M | $-99.2M |
| 毛利率 | 64.6% | — |
| 营业利润率 | -43.0% | -285.4% |
| 净利率 | -45.7% | -227.5% |
| 营收同比 | 39.4% | 14.0% |
| 净利润同比 | -15.8% | -2.2% |
| 每股收益（稀释后） | $-1.01 | $-2.37 |
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GHGRAL
| Q4 25 | $281.3M | $43.6M | ||
| Q3 25 | $265.2M | $36.2M | ||
| Q2 25 | $232.1M | $35.5M | ||
| Q1 25 | $203.5M | $31.8M | ||
| Q4 24 | $201.8M | $38.3M | ||
| Q3 24 | $191.5M | $28.7M | ||
| Q2 24 | $177.2M | $32.0M | ||
| Q1 24 | $168.5M | $26.7M |
净利润GHGRAL
| Q4 25 | $-128.5M | $-99.2M | ||
| Q3 25 | $-92.7M | $-89.0M | ||
| Q2 25 | $-99.9M | $-114.0M | ||
| Q1 25 | $-95.2M | $-106.2M | ||
| Q4 24 | $-111.0M | $-97.1M | ||
| Q3 24 | $-107.8M | $-125.7M | ||
| Q2 24 | $-102.6M | $-1.6B | ||
| Q1 24 | $-115.0M | $-218.9M |
毛利率GHGRAL
| Q4 25 | 64.6% | — | ||
| Q3 25 | 64.7% | — | ||
| Q2 25 | 65.0% | — | ||
| Q1 25 | 63.3% | — | ||
| Q4 24 | 61.6% | — | ||
| Q3 24 | 61.1% | — | ||
| Q2 24 | 59.1% | — | ||
| Q1 24 | 61.2% | — |
营业利润率GHGRAL
| Q4 25 | -43.0% | -285.4% | ||
| Q3 25 | -37.3% | -346.2% | ||
| Q2 25 | -45.9% | -446.9% | ||
| Q1 25 | -54.6% | -482.5% | ||
| Q4 24 | -62.4% | -358.0% | ||
| Q3 24 | -61.3% | -640.5% | ||
| Q2 24 | -56.8% | -5133.8% | ||
| Q1 24 | -59.2% | -851.1% |
净利率GHGRAL
| Q4 25 | -45.7% | -227.5% | ||
| Q3 25 | -35.0% | -245.8% | ||
| Q2 25 | -43.0% | -320.7% | ||
| Q1 25 | -46.8% | -333.6% | ||
| Q4 24 | -55.0% | -253.8% | ||
| Q3 24 | -56.3% | -438.7% | ||
| Q2 24 | -57.9% | -4958.8% | ||
| Q1 24 | -68.2% | -819.3% |
每股收益（稀释后）GHGRAL
| Q4 25 | $-1.01 | $-2.37 | ||
| Q3 25 | $-0.74 | $-2.46 | ||
| Q2 25 | $-0.80 | $-3.18 | ||
| Q1 25 | $-0.77 | $-3.10 | ||
| Q4 24 | $-0.90 | $-1.49 | ||
| Q3 24 | $-0.88 | $-3.94 | ||
| Q2 24 | $-0.84 | $-51.06 | ||
| Q1 24 | $-0.94 | $-7.05 |
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 | $378.2M | $249.7M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $-99.3M | $2.6B |
| 总资产 | $2.0B | $2.9B |
| 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GHGRAL
| Q4 25 | $378.2M | $249.7M | ||
| Q3 25 | $580.0M | $126.9M | ||
| Q2 25 | $629.1M | $127.4M | ||
| Q1 25 | $698.6M | $133.9M | ||
| Q4 24 | $525.5M | $214.2M | ||
| Q3 24 | $585.0M | $853.6M | ||
| Q2 24 | $933.7M | $958.8M | ||
| Q1 24 | $1.0B | $199.7M |
总债务GHGRAL
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益GHGRAL
| Q4 25 | $-99.3M | $2.6B | ||
| Q3 25 | $-354.5M | $2.2B | ||
| Q2 25 | $-305.5M | $2.3B | ||
| Q1 25 | $-250.8M | $2.4B | ||
| Q4 24 | $-139.6M | $2.5B | ||
| Q3 24 | $-60.1M | $2.6B | ||
| Q2 24 | $-1.6M | $2.7B | ||
| Q1 24 | $68.3M | — |
总资产GHGRAL
| Q4 25 | $2.0B | $2.9B | ||
| Q3 25 | $1.3B | $2.6B | ||
| Q2 25 | $1.3B | $2.7B | ||
| Q1 25 | $1.3B | $2.8B | ||
| Q4 24 | $1.5B | $3.0B | ||
| Q3 24 | $1.5B | $3.1B | ||
| Q2 24 | $1.6B | $3.3B | ||
| Q1 24 | $1.7B | — |
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 | $-26.4M | $-63.8M |
| 自由现金流经营现金流 - 资本支出 | $-54.2M | $-63.9M |
| 自由现金流率自由现金流/营收 | -19.3% | -146.5% |
| 资本支出强度资本支出/营收 | 9.9% | 0.2% |
| 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 | $-233.1M | $-299.9M |
8季度趋势，按日历期对齐
经营现金流GHGRAL
| Q4 25 | $-26.4M | $-63.8M | ||
| Q3 25 | $-35.4M | $-63.2M | ||
| Q2 25 | $-60.3M | $-77.0M | ||
| Q1 25 | $-62.7M | $-95.0M | ||
| Q4 24 | $-64.5M | — | ||
| Q3 24 | $-51.1M | $-104.6M | ||
| Q2 24 | $-94.0M | $-171.8M | ||
| Q1 24 | $-30.3M | $-207.3M |
自由现金流GHGRAL
| Q4 25 | $-54.2M | $-63.9M | ||
| Q3 25 | $-45.8M | $-63.6M | ||
| Q2 25 | $-65.9M | $-77.3M | ||
| Q1 25 | $-67.1M | $-95.1M | ||
| Q4 24 | $-83.4M | — | ||
| Q3 24 | $-55.3M | $-105.6M | ||
| Q2 24 | $-99.1M | $-173.2M | ||
| Q1 24 | $-37.2M | $-209.8M |
自由现金流率GHGRAL
| Q4 25 | -19.3% | -146.5% | ||
| Q3 25 | -17.3% | -175.8% | ||
| Q2 25 | -28.4% | -217.6% | ||
| Q1 25 | -33.0% | -298.6% | ||
| Q4 24 | -41.3% | — | ||
| Q3 24 | -28.9% | -368.4% | ||
| Q2 24 | -55.9% | -541.7% | ||
| Q1 24 | -22.1% | -785.3% |
资本支出强度GHGRAL
| Q4 25 | 9.9% | 0.2% | ||
| Q3 25 | 3.9% | 1.1% | ||
| Q2 25 | 2.4% | 1.0% | ||
| Q1 25 | 2.2% | 0.2% | ||
| Q4 24 | 9.4% | — | ||
| Q3 24 | 2.2% | 3.4% | ||
| Q2 24 | 2.9% | 4.3% | ||
| Q1 24 | 4.1% | 9.5% |
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
GH
| Oncology | $189.9M | 68% |
| Biopharma Data | $54.0M | 19% |
| Screening | $35.1M | 12% |
| Licensing Other | $2.2M | 1% |
GRAL
| Screening Revenue | $42.3M | 97% |
| Developmental Services Revenue | $1.3M | 3% |
