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GREENLIGHT CAPITAL RE, LTD.（GLRE）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
GREENLIGHT CAPITAL RE, LTD.的季度营收约是再鼎医药的1.7倍（$210.3M vs $127.1M），GREENLIGHT CAPITAL RE, LTD.同比增速更快（48.3% vs 17.1%），过去两年再鼎医药的营收复合增速更高（20.8% vs 4.8%）
绿光资本再保险有限公司关联的绿光资本是1996年由大卫·艾因霍恩创立的美国对冲基金，主要投资北美公开交易的企业债务产品与股票，因2008年雷曼兄弟破产前做空其股票、2012年1月在英国因内幕交易被罚1100万美元而受到市场关注，艾因霍恩至今仍担任该基金管理人。
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。
GLRE vs ZLAB — 直观对比
营收规模更大
GLRE
是对方的1.7倍
$127.1M
营收增速更快
GLRE
高出31.1%
17.1%
两年增速更快
ZLAB
近两年复合增速
4.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $210.3M | $127.1M |
| 净利润 | $49.3M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | — | -54.6% |
| 净利率 | 23.4% | — |
| 营收同比 | 48.3% | 17.1% |
| 净利润同比 | 279.7% | — |
| 每股收益（稀释后） | $1.43 | $-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GLREZLAB
| Q4 25 | $210.3M | $127.1M | ||
| Q3 25 | $146.1M | $115.4M | ||
| Q2 25 | $160.1M | $109.1M | ||
| Q1 25 | $213.3M | $105.7M | ||
| Q4 24 | $141.8M | $108.5M | ||
| Q3 24 | $188.0M | $101.8M | ||
| Q2 24 | $174.9M | $100.1M | ||
| Q1 24 | $191.3M | $87.1M |
净利润GLREZLAB
| Q4 25 | $49.3M | — | ||
| Q3 25 | $-4.4M | $-36.0M | ||
| Q2 25 | $329.0K | $-40.7M | ||
| Q1 25 | $29.6M | $-48.4M | ||
| Q4 24 | $-27.4M | — | ||
| Q3 24 | $35.2M | $-41.7M | ||
| Q2 24 | $8.0M | $-80.3M | ||
| Q1 24 | $27.0M | $-53.5M |
毛利率GLREZLAB
| 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GLREZLAB
| Q4 25 | — | -54.6% | ||
| Q3 25 | — | -42.3% | ||
| Q2 25 | — | -50.3% | ||
| Q1 25 | — | -53.3% | ||
| Q4 24 | — | -62.6% | ||
| Q3 24 | — | -66.6% | ||
| Q2 24 | — | -76.0% | ||
| Q1 24 | — | -80.7% |
净利率GLREZLAB
| Q4 25 | 23.4% | — | ||
| Q3 25 | -3.0% | -31.2% | ||
| Q2 25 | 0.2% | -37.3% | ||
| Q1 25 | 13.9% | -45.8% | ||
| Q4 24 | -19.3% | — | ||
| Q3 24 | 18.7% | -40.9% | ||
| Q2 24 | 4.6% | -80.2% | ||
| Q1 24 | 14.1% | -61.4% |
每股收益（稀释后）GLREZLAB
| Q4 25 | $1.43 | $-0.05 | ||
| Q3 25 | $-0.13 | $-0.03 | ||
| Q2 25 | $0.01 | $-0.04 | ||
| Q1 25 | $0.86 | $-0.04 | ||
| Q4 24 | $-0.78 | $-0.09 | ||
| Q3 24 | $1.01 | $-0.04 | ||
| Q2 24 | $0.23 | $-0.08 | ||
| Q1 24 | $0.78 | $-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 | $111.8M | $689.6M |
| 总债务越低越好 | $4.7M | — |
| 股东权益账面价值 | $708.0M | $715.5M |
| 总资产 | $2.2B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.01× | — |
8季度趋势，按日历期对齐
现金及短期投资GLREZLAB
| Q4 25 | $111.8M | $689.6M | ||
| Q3 25 | $68.8M | $717.2M | ||
| Q2 25 | $82.4M | $732.2M | ||
| Q1 25 | $47.5M | $757.3M | ||
| Q4 24 | $64.7M | $779.7M | ||
| Q3 24 | $54.6M | $616.1M | ||
| Q2 24 | $52.2M | $630.0M | ||
| Q1 24 | $61.6M | $650.8M |
总债务GLREZLAB
| Q4 25 | $4.7M | — | ||
| Q3 25 | $34.7M | — | ||
| Q2 25 | $58.9M | — | ||
| Q1 25 | $59.8M | — | ||
| Q4 24 | $60.7M | — | ||
| Q3 24 | $62.6M | — | ||
| Q2 24 | $61.6M | — | ||
| Q1 24 | $72.5M | — |
股东权益GLREZLAB
| Q4 25 | $708.0M | $715.5M | ||
| Q3 25 | $658.9M | $759.9M | ||
| Q2 25 | $663.3M | $791.7M | ||
| Q1 25 | $666.8M | $810.8M | ||
| Q4 24 | $635.9M | $840.9M | ||
| Q3 24 | $663.4M | $667.7M | ||
| Q2 24 | $634.0M | $704.2M | ||
| Q1 24 | $624.5M | $762.2M |
总资产GLREZLAB
| Q4 25 | $2.2B | $1.2B | ||
| Q3 25 | $2.1B | $1.2B | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.2B | $1.2B | ||
| Q4 24 | $2.0B | $1.2B | ||
| Q3 24 | $2.0B | $985.3M | ||
| Q2 24 | $1.9B | $987.4M | ||
| Q1 24 | $1.9B | $988.4M |
负债/权益比GLREZLAB
| Q4 25 | 0.01× | — | ||
| Q3 25 | 0.05× | — | ||
| Q2 25 | 0.09× | — | ||
| Q1 25 | 0.09× | — | ||
| Q4 24 | 0.10× | — | ||
| Q3 24 | 0.09× | — | ||
| Q2 24 | 0.10× | — | ||
| Q1 24 | 0.12× | — |
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 | $100.2M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-26.7M |
| 自由现金流率自由现金流/营收 | — | -21.0% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 现金转化率经营现金流/净利润 | 2.03× | — |
| 过去12个月自由现金流最近4个季度 | — | $-158.9M |
8季度趋势，按日历期对齐
经营现金流GLREZLAB
| Q4 25 | $100.2M | $-26.0M | ||
| Q3 25 | $31.2M | $-32.0M | ||
| Q2 25 | $68.4M | $-31.0M | ||
| Q1 25 | $10.4M | $-61.7M | ||
| Q4 24 | $29.5M | $-55.8M | ||
| Q3 24 | $41.3M | $-26.8M | ||
| Q2 24 | $22.7M | $-42.2M | ||
| Q1 24 | $18.0M | $-90.1M |
自由现金流GLREZLAB
| Q4 25 | — | $-26.7M | ||
| Q3 25 | — | $-35.0M | ||
| Q2 25 | — | $-33.9M | ||
| Q1 25 | — | $-63.2M | ||
| Q4 24 | — | $-58.4M | ||
| Q3 24 | — | $-28.2M | ||
| Q2 24 | — | $-42.9M | ||
| Q1 24 | — | $-91.1M |
自由现金流率GLREZLAB
| Q4 25 | — | -21.0% | ||
| Q3 25 | — | -30.4% | ||
| Q2 25 | — | -31.1% | ||
| Q1 25 | — | -59.9% | ||
| Q4 24 | — | -53.8% | ||
| Q3 24 | — | -27.7% | ||
| Q2 24 | — | -42.9% | ||
| Q1 24 | — | -104.5% |
资本支出强度GLREZLAB
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.1% |
现金转化率GLREZLAB
| Q4 25 | 2.03× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 208.02× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.17× | — | ||
| Q2 24 | 2.85× | — | ||
| Q1 24 | 0.66× | — |
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
GLRE
| Other | $124.7M | 59% |
| Innovations | $85.6M | 41% |
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% |
