vs
GENMAB A/S（GMAB）与赫曼米勒（MLKN）财务数据对比。点击上方公司名可切换其他公司
赫曼米勒的季度营收约是GENMAB A/S的1.0倍（$955.2M vs $925.0M），GENMAB A/S净利率更高（36.3% vs 2.5%，领先33.8%），GENMAB A/S同比增速更快（18.7% vs -1.6%），GENMAB A/S自由现金流更多（$327.0M vs $34.0M）
Genmab A/S是丹麦生物技术企业，1999年2月由原BankInvest生物医药风险基金董事总经理Florian Schönharting创立，总部位于丹麦哥本哈根，在荷兰乌得勒支、美国新泽西州普林斯顿、日本东京、德国慕尼黑及中国苏州均设有子公司，深耕生物科技领域的研发与运营。
米勒诺尔公司以赫曼米勒之名开展业务，是美国知名办公家具、设备及家居产品制造商。其推出的埃隆椅、野口勇茶几、棉花糖沙发、米拉椅、伊姆斯休闲椅等产品享誉全球，此外该公司还在1968年研发出了现代办公隔间。
GMAB vs MLKN — 直观对比
营收规模更大
MLKN
是对方的1.0倍
$925.0M
营收增速更快
GMAB
高出20.3%
-1.6%
净利率更高
GMAB
高出33.8%
2.5%
自由现金流更多
GMAB
多$293.0M
$34.0M
损益表 — Q2 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $925.0M | $955.2M |
| 净利润 | $336.0M | $24.2M |
| 毛利率 | 93.8% | 39.0% |
| 营业利润率 | 38.9% | 5.1% |
| 净利率 | 36.3% | 2.5% |
| 营收同比 | 18.7% | -1.6% |
| 净利润同比 | 65.5% | -29.0% |
| 每股收益（稀释后） | $5.42 | $0.35 |
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GMABMLKN
| Q4 25 | — | $955.2M | ||
| Q3 25 | — | $955.7M | ||
| Q2 25 | $925.0M | — | ||
| Q2 24 | $779.0M | — | ||
| Q2 23 | $604.5M | — | ||
| Q2 22 | $458.5M | — |
净利润GMABMLKN
| Q4 25 | — | $24.2M | ||
| Q3 25 | — | $20.2M | ||
| Q2 25 | $336.0M | — | ||
| Q2 24 | $203.0M | — | ||
| Q2 23 | $193.6M | — | ||
| Q2 22 | $274.2M | — |
毛利率GMABMLKN
| Q4 25 | — | 39.0% | ||
| Q3 25 | — | 38.5% | ||
| Q2 25 | 93.8% | — | ||
| Q2 24 | 96.4% | — | ||
| Q2 23 | 99.5% | — | ||
| Q2 22 | — | — |
营业利润率GMABMLKN
| Q4 25 | — | 5.1% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | 38.9% | — | ||
| Q2 24 | 30.3% | — | ||
| Q2 23 | 35.2% | — | ||
| Q2 22 | 39.4% | — |
净利率GMABMLKN
| Q4 25 | — | 2.5% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | 36.3% | — | ||
| Q2 24 | 26.1% | — | ||
| Q2 23 | 32.0% | — | ||
| Q2 22 | 59.8% | — |
每股收益（稀释后）GMABMLKN
| Q4 25 | — | $0.35 | ||
| Q3 25 | — | $0.29 | ||
| Q2 25 | $5.42 | — | ||
| Q2 24 | $3.13 | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
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 | $1.3B | $180.4M |
| 总债务越低越好 | — | $1.3B |
| 股东权益账面价值 | $5.3B | $1.3B |
| 总资产 | $6.5B | $3.9B |
| 负债/权益比越低杠杆越低 | — | 1.02× |
8季度趋势，按日历期对齐
现金及短期投资GMABMLKN
| Q4 25 | — | $180.4M | ||
| Q3 25 | — | $167.2M | ||
| Q2 25 | $1.3B | — | ||
| Q2 24 | $622.0M | — | ||
| Q2 23 | $1.6B | — | ||
| Q2 22 | $1.4B | — |
总债务GMABMLKN
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | — | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
股东权益GMABMLKN
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $5.3B | — | ||
| Q2 24 | $4.4B | — | ||
| Q2 23 | $4.1B | — | ||
| Q2 22 | $3.5B | — |
总资产GMABMLKN
| Q4 25 | — | $3.9B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | $6.5B | — | ||
| Q2 24 | $5.6B | — | ||
| Q2 23 | $4.6B | — | ||
| Q2 22 | $4.0B | — |
负债/权益比GMABMLKN
| Q4 25 | — | 1.02× | ||
| Q3 25 | — | 1.02× | ||
| Q2 25 | — | — | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
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 | $349.0M | $64.6M |
| 自由现金流经营现金流 - 资本支出 | $327.0M | $34.0M |
| 自由现金流率自由现金流/营收 | 35.4% | 3.6% |
| 资本支出强度资本支出/营收 | 2.4% | 3.2% |
| 现金转化率经营现金流/净利润 | 1.04× | 2.67× |
| 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GMABMLKN
| Q4 25 | — | $64.6M | ||
| Q3 25 | — | $9.4M | ||
| Q2 25 | $349.0M | — | ||
| Q2 24 | $438.0M | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
自由现金流GMABMLKN
| Q4 25 | — | $34.0M | ||
| Q3 25 | — | $-21.3M | ||
| Q2 25 | $327.0M | — | ||
| Q2 24 | $430.0M | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
自由现金流率GMABMLKN
| Q4 25 | — | 3.6% | ||
| Q3 25 | — | -2.2% | ||
| Q2 25 | 35.4% | — | ||
| Q2 24 | 55.2% | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
资本支出强度GMABMLKN
| Q4 25 | — | 3.2% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | 2.4% | — | ||
| Q2 24 | 1.0% | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
现金转化率GMABMLKN
| Q4 25 | — | 2.67× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | 1.04× | — | ||
| Q2 24 | 2.16× | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
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
GMAB
| Darzalex | $638.0M | 69% |
| Kesimpta | $108.0M | 12% |
| Net Product Sales | $101.0M | 11% |
| Other | $28.0M | 3% |
| Tepezza | $20.0M | 2% |
| Reimbursement Revenue | $13.0M | 1% |
| Bio N Tech | $11.0M | 1% |
| Abb Vie | $5.0M | 1% |
| Milestone Revenue | $1.0M | 0% |
MLKN
| Workplace | $309.9M | 32% |
| Global Retail Segment | $275.8M | 29% |
| International Contract Segment | $170.9M | 18% |
| Performance Seating | $101.1M | 11% |
| Lifestyle | $52.9M | 6% |
| Other Products | $44.6M | 5% |
