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GENMAB A/S（GMAB）与Sarepta Therapeutics, Inc.（SRPT）财务数据对比。点击上方公司名可切换其他公司
GENMAB A/S的季度营收约是Sarepta Therapeutics, Inc.的2.5倍（$925.0M vs $369.6M），GENMAB A/S净利率更高（36.3% vs -111.5%，领先147.9%），GENMAB A/S同比增速更快（18.7% vs -42.1%），GENMAB A/S自由现金流更多（$327.0M vs $127.6M）
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。
Sarepta Therapeutics是一家总部位于美国马萨诸塞州剑桥的生物医药企业，专注于医学研究与药物研发。公司成立于1980年，前身为AntiVirals，后续先后更名为AVI BioPharma及现名，截至2023年已有四款获批上市药物，在相关疾病治疗领域深耕技术创新。
GMAB vs SRPT — 直观对比
营收规模更大
GMAB
是对方的2.5倍
$369.6M
营收增速更快
GMAB
高出60.8%
-42.1%
净利率更高
GMAB
高出147.9%
-111.5%
自由现金流更多
GMAB
多$199.4M
$127.6M
损益表 — Q2 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $925.0M | $369.6M |
| 净利润 | $336.0M | $-412.2M |
| 毛利率 | 93.8% | — |
| 营业利润率 | 38.9% | -111.4% |
| 净利率 | 36.3% | -111.5% |
| 营收同比 | 18.7% | -42.1% |
| 净利润同比 | 65.5% | -359.2% |
| 每股收益（稀释后） | $5.42 | $-3.92 |
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GMABSRPT
| Q4 25 | — | $369.6M | ||
| Q3 25 | — | $370.0M | ||
| Q2 25 | $925.0M | $513.1M | ||
| Q1 25 | — | $611.5M | ||
| Q4 24 | — | $638.2M | ||
| Q3 24 | — | $429.8M | ||
| Q2 24 | $779.0M | $360.5M | ||
| Q1 24 | — | $359.5M |
净利润GMABSRPT
| Q4 25 | — | $-412.2M | ||
| Q3 25 | — | $-50.6M | ||
| Q2 25 | $336.0M | $196.9M | ||
| Q1 25 | — | $-447.5M | ||
| Q4 24 | — | $159.0M | ||
| Q3 24 | — | $33.6M | ||
| Q2 24 | $203.0M | $6.5M | ||
| Q1 24 | — | $36.1M |
毛利率GMABSRPT
| Q4 25 | — | — | ||
| Q3 25 | — | 59.3% | ||
| Q2 25 | 93.8% | 70.3% | ||
| Q1 25 | — | 77.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 78.7% | ||
| Q2 24 | 96.4% | 87.6% | ||
| Q1 24 | — | 85.9% |
营业利润率GMABSRPT
| Q4 25 | — | -111.4% | ||
| Q3 25 | — | -27.9% | ||
| Q2 25 | 38.9% | 22.5% | ||
| Q1 25 | — | -49.1% | ||
| Q4 24 | — | 25.3% | ||
| Q3 24 | — | 5.2% | ||
| Q2 24 | 30.3% | -0.2% | ||
| Q1 24 | — | 9.7% |
净利率GMABSRPT
| Q4 25 | — | -111.5% | ||
| Q3 25 | — | -13.7% | ||
| Q2 25 | 36.3% | 38.4% | ||
| Q1 25 | — | -73.2% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | 26.1% | 1.8% | ||
| Q1 24 | — | 10.0% |
每股收益（稀释后）GMABSRPT
| Q4 25 | — | $-3.92 | ||
| Q3 25 | — | $-0.50 | ||
| Q2 25 | $5.42 | $1.89 | ||
| Q1 25 | — | $-4.60 | ||
| Q4 24 | — | $1.56 | ||
| Q3 24 | — | $0.34 | ||
| Q2 24 | $3.13 | $0.07 | ||
| Q1 24 | — | $0.37 |
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 | $939.6M |
| 总债务越低越好 | — | $829.0M |
| 股东权益账面价值 | $5.3B | $1.1B |
| 总资产 | $6.5B | $3.3B |
| 负债/权益比越低杠杆越低 | — | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资GMABSRPT
| Q4 25 | — | $939.6M | ||
| Q3 25 | — | $851.0M | ||
| Q2 25 | $1.3B | $800.1M | ||
| Q1 25 | — | $522.8M | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | $622.0M | $1.5B | ||
| Q1 24 | — | $1.4B |
总债务GMABSRPT
| Q4 25 | — | $829.0M | ||
| Q3 25 | — | $140.5M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益GMABSRPT
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $5.3B | $1.4B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | $4.4B | $1.1B | ||
| Q1 24 | — | $961.2M |
总资产GMABSRPT
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | $6.5B | $3.7B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | $5.6B | $3.4B | ||
| Q1 24 | — | $3.2B |
负债/权益比GMABSRPT
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.11× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 1.01× | ||
| Q2 24 | — | 1.14× | ||
| Q1 24 | — | 1.29× |
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 | $131.2M |
| 自由现金流经营现金流 - 资本支出 | $327.0M | $127.6M |
| 自由现金流率自由现金流/营收 | 35.4% | 34.5% |
| 资本支出强度资本支出/营收 | 2.4% | 1.0% |
| 现金转化率经营现金流/净利润 | 1.04× | — |
| 过去12个月自由现金流最近4个季度 | — | $-307.5M |
8季度趋势，按日历期对齐
经营现金流GMABSRPT
| Q4 25 | — | $131.2M | ||
| Q3 25 | — | $-14.6M | ||
| Q2 25 | $349.0M | $261.3M | ||
| Q1 25 | — | $-583.4M | ||
| Q4 24 | — | $92.0M | ||
| Q3 24 | — | $-70.7M | ||
| Q2 24 | $438.0M | $14.9M | ||
| Q1 24 | — | $-242.1M |
自由现金流GMABSRPT
| Q4 25 | — | $127.6M | ||
| Q3 25 | — | $-37.5M | ||
| Q2 25 | $327.0M | $229.5M | ||
| Q1 25 | — | $-627.1M | ||
| Q4 24 | — | $54.0M | ||
| Q3 24 | — | $-108.0M | ||
| Q2 24 | $430.0M | $-14.2M | ||
| Q1 24 | — | $-274.5M |
自由现金流率GMABSRPT
| Q4 25 | — | 34.5% | ||
| Q3 25 | — | -10.1% | ||
| Q2 25 | 35.4% | 44.7% | ||
| Q1 25 | — | -102.5% | ||
| Q4 24 | — | 8.5% | ||
| Q3 24 | — | -25.1% | ||
| Q2 24 | 55.2% | -3.9% | ||
| Q1 24 | — | -76.4% |
资本支出强度GMABSRPT
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 6.2% | ||
| Q2 25 | 2.4% | 6.2% | ||
| Q1 25 | — | 7.1% | ||
| Q4 24 | — | 6.0% | ||
| Q3 24 | — | 8.7% | ||
| Q2 24 | 1.0% | 8.1% | ||
| Q1 24 | — | 9.0% |
现金转化率GMABSRPT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.04× | 1.33× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.58× | ||
| Q3 24 | — | -2.10× | ||
| Q2 24 | 2.16× | 2.31× | ||
| Q1 24 | — | -6.70× |
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% |
SRPT
| Pmo Products | $202.5M | 55% |
| Elevidys | $110.4M | 30% |
| Other | $56.7M | 15% |
