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GENMAB A/S（GMAB）与登士柏西诺德（XRAY）财务数据对比。点击上方公司名可切换其他公司
登士柏西诺德的季度营收约是GENMAB A/S的1.0倍（$961.0M vs $925.0M），GENMAB A/S净利率更高（36.3% vs -15.2%，领先51.5%），GENMAB A/S同比增速更快（18.7% vs 6.2%），GENMAB A/S自由现金流更多（$327.0M vs $60.0M）
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。
登士柏西诺德是美国牙科设备及耗材制造商，业务覆盖全球120多个国家，在21个国家设有生产工厂。该公司前身为1993年Gendex公司以5.9亿美元收购登士柏国际后整合组建的企业，是全球牙科领域的重要供应商。
GMAB vs XRAY — 直观对比
营收规模更大
XRAY
是对方的1.0倍
$925.0M
营收增速更快
GMAB
高出12.6%
6.2%
净利率更高
GMAB
高出51.5%
-15.2%
自由现金流更多
GMAB
多$267.0M
$60.0M
损益表 — Q2 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $925.0M | $961.0M |
| 净利润 | $336.0M | $-146.0M |
| 毛利率 | 93.8% | 46.1% |
| 营业利润率 | 38.9% | -14.5% |
| 净利率 | 36.3% | -15.2% |
| 营收同比 | 18.7% | 6.2% |
| 净利润同比 | 65.5% | 66.0% |
| 每股收益（稀释后） | $5.42 | $-0.74 |
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GMABXRAY
| Q4 25 | — | $961.0M | ||
| Q3 25 | — | $904.0M | ||
| Q2 25 | $925.0M | $936.0M | ||
| Q1 25 | — | $879.0M | ||
| Q4 24 | — | $905.0M | ||
| Q3 24 | — | $951.0M | ||
| Q2 24 | $779.0M | $984.0M | ||
| Q1 24 | — | $953.0M |
净利润GMABXRAY
| Q4 25 | — | $-146.0M | ||
| Q3 25 | — | $-427.0M | ||
| Q2 25 | $336.0M | $-45.0M | ||
| Q1 25 | — | $20.0M | ||
| Q4 24 | — | $-430.0M | ||
| Q3 24 | — | $-494.0M | ||
| Q2 24 | $203.0M | $-4.0M | ||
| Q1 24 | — | $18.0M |
毛利率GMABXRAY
| Q4 25 | — | 46.1% | ||
| Q3 25 | — | 48.8% | ||
| Q2 25 | 93.8% | 52.4% | ||
| Q1 25 | — | 53.0% | ||
| Q4 24 | — | 49.3% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | 96.4% | 51.9% | ||
| Q1 24 | — | 53.1% |
营业利润率GMABXRAY
| Q4 25 | — | -14.5% | ||
| Q3 25 | — | -24.1% | ||
| Q2 25 | 38.9% | -13.7% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | — | -56.2% | ||
| Q3 24 | — | -48.6% | ||
| Q2 24 | 30.3% | 5.1% | ||
| Q1 24 | — | 4.4% |
净利率GMABXRAY
| Q4 25 | — | -15.2% | ||
| Q3 25 | — | -47.2% | ||
| Q2 25 | 36.3% | -4.8% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | -47.5% | ||
| Q3 24 | — | -51.9% | ||
| Q2 24 | 26.1% | -0.4% | ||
| Q1 24 | — | 1.9% |
每股收益（稀释后）GMABXRAY
| Q4 25 | — | $-0.74 | ||
| Q3 25 | — | $-2.14 | ||
| Q2 25 | $5.42 | $-0.22 | ||
| Q1 25 | — | $0.10 | ||
| Q4 24 | — | $-2.09 | ||
| Q3 24 | — | $-2.46 | ||
| Q2 24 | $3.13 | $-0.02 | ||
| Q1 24 | — | $0.09 |
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 | $326.0M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $5.3B | $1.3B |
| 总资产 | $6.5B | $5.4B |
| 负债/权益比越低杠杆越低 | — | 1.70× |
8季度趋势，按日历期对齐
现金及短期投资GMABXRAY
| Q4 25 | — | $326.0M | ||
| Q3 25 | — | $363.0M | ||
| Q2 25 | $1.3B | $359.0M | ||
| Q1 25 | — | $398.0M | ||
| Q4 24 | — | $272.0M | ||
| Q3 24 | — | $296.0M | ||
| Q2 24 | $622.0M | $279.0M | ||
| Q1 24 | — | $291.0M |
总债务GMABXRAY
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益GMABXRAY
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $5.3B | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | $4.4B | $3.1B | ||
| Q1 24 | — | $3.3B |
总资产GMABXRAY
| Q4 25 | — | $5.4B | ||
| Q3 25 | — | $5.7B | ||
| Q2 25 | $6.5B | $6.1B | ||
| Q1 25 | — | $6.0B | ||
| Q4 24 | — | $5.8B | ||
| Q3 24 | — | $6.6B | ||
| Q2 24 | $5.6B | $6.9B | ||
| Q1 24 | — | $7.1B |
负债/权益比GMABXRAY
| Q4 25 | — | 1.70× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $101.0M |
| 自由现金流经营现金流 - 资本支出 | $327.0M | $60.0M |
| 自由现金流率自由现金流/营收 | 35.4% | 6.2% |
| 资本支出强度资本支出/营收 | 2.4% | 4.3% |
| 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 | — | $104.0M |
8季度趋势，按日历期对齐
经营现金流GMABXRAY
| Q4 25 | — | $101.0M | ||
| Q3 25 | — | $79.0M | ||
| Q2 25 | $349.0M | $48.0M | ||
| Q1 25 | — | $7.0M | ||
| Q4 24 | — | $87.0M | ||
| Q3 24 | — | $141.0M | ||
| Q2 24 | $438.0M | $208.0M | ||
| Q1 24 | — | $25.0M |
自由现金流GMABXRAY
| Q4 25 | — | $60.0M | ||
| Q3 25 | — | $40.0M | ||
| Q2 25 | $327.0M | $16.0M | ||
| Q1 25 | — | $-12.0M | ||
| Q4 24 | — | $36.0M | ||
| Q3 24 | — | $98.0M | ||
| Q2 24 | $430.0M | $156.0M | ||
| Q1 24 | — | $-9.0M |
自由现金流率GMABXRAY
| Q4 25 | — | 6.2% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | 35.4% | 1.7% | ||
| Q1 25 | — | -1.4% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | 55.2% | 15.9% | ||
| Q1 24 | — | -0.9% |
资本支出强度GMABXRAY
| Q4 25 | — | 4.3% | ||
| Q3 25 | — | 4.3% | ||
| Q2 25 | 2.4% | 3.4% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | 1.0% | 5.3% | ||
| Q1 24 | — | 3.6% |
现金转化率GMABXRAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.04× | — | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.16× | — | ||
| Q1 24 | — | 1.39× |
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% |
XRAY
| Essential Dental Solutions | $372.0M | 39% |
| Equipment And Instruments | $160.0M | 17% |
| Implants And Prosthetics | $150.0M | 16% |
| CADCAM | $139.0M | 14% |
| Wellspect Healthcare | $88.0M | 9% |
| Orthodontics | $52.0M | 5% |
