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GRAIL, Inc.（GRAL）与PDF SOLUTIONS INC（PDFS）财务数据对比。点击上方公司名可切换其他公司
PDF SOLUTIONS INC的季度营收约是GRAIL, Inc.的1.4倍（$62.4M vs $43.6M），PDF SOLUTIONS INC净利率更高（-0.1% vs -227.5%，领先227.4%），PDF SOLUTIONS INC同比增速更快（24.6% vs 14.0%），PDF SOLUTIONS INC自由现金流更多（$7.5M vs $-63.9M），过去两年GRAIL, Inc.的营收复合增速更高（27.7% vs 22.9%）
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。
PDF Solutions Inc是一家总部位于美国加利福尼亚州圣克拉拉的跨国企业，主营软件业务与工程技术服务，目前在纳斯达克交易所挂牌上市，股票代码为PDFS。
GRAL vs PDFS — 直观对比
营收规模更大
PDFS
是对方的1.4倍
$43.6M
营收增速更快
PDFS
高出10.6%
14.0%
净利率更高
PDFS
高出227.4%
-227.5%
自由现金流更多
PDFS
多$71.4M
$-63.9M
两年增速更快
GRAL
近两年复合增速
22.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $43.6M | $62.4M |
| 净利润 | $-99.2M | $-48.0K |
| 毛利率 | — | 72.9% |
| 营业利润率 | -285.4% | 5.5% |
| 净利率 | -227.5% | -0.1% |
| 营收同比 | 14.0% | 24.6% |
| 净利润同比 | -2.2% | -108.9% |
| 每股收益（稀释后） | $-2.37 | $0.00 |
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GRALPDFS
| Q4 25 | $43.6M | $62.4M | ||
| Q3 25 | $36.2M | $57.1M | ||
| Q2 25 | $35.5M | $51.7M | ||
| Q1 25 | $31.8M | $47.8M | ||
| Q4 24 | $38.3M | $50.1M | ||
| Q3 24 | $28.7M | $46.4M | ||
| Q2 24 | $32.0M | $41.7M | ||
| Q1 24 | $26.7M | $41.3M |
净利润GRALPDFS
| Q4 25 | $-99.2M | $-48.0K | ||
| Q3 25 | $-89.0M | $1.3M | ||
| Q2 25 | $-114.0M | $1.1M | ||
| Q1 25 | $-106.2M | $-3.0M | ||
| Q4 24 | $-97.1M | $539.0K | ||
| Q3 24 | $-125.7M | $2.2M | ||
| Q2 24 | $-1.6B | $1.7M | ||
| Q1 24 | $-218.9M | $-393.0K |
毛利率GRALPDFS
| Q4 25 | — | 72.9% | ||
| Q3 25 | — | 72.3% | ||
| Q2 25 | — | 71.2% | ||
| Q1 25 | — | 72.9% | ||
| Q4 24 | — | 68.3% | ||
| Q3 24 | — | 73.1% | ||
| Q2 24 | — | 70.6% | ||
| Q1 24 | — | 67.3% |
营业利润率GRALPDFS
| Q4 25 | -285.4% | 5.5% | ||
| Q3 25 | -346.2% | 8.5% | ||
| Q2 25 | -446.9% | 2.2% | ||
| Q1 25 | -482.5% | -7.4% | ||
| Q4 24 | -358.0% | 1.0% | ||
| Q3 24 | -640.5% | 4.6% | ||
| Q2 24 | -5133.8% | 0.6% | ||
| Q1 24 | -851.1% | -4.7% |
净利率GRALPDFS
| Q4 25 | -227.5% | -0.1% | ||
| Q3 25 | -245.8% | 2.3% | ||
| Q2 25 | -320.7% | 2.2% | ||
| Q1 25 | -333.6% | -6.3% | ||
| Q4 24 | -253.8% | 1.1% | ||
| Q3 24 | -438.7% | 4.8% | ||
| Q2 24 | -4958.8% | 4.1% | ||
| Q1 24 | -819.3% | -1.0% |
每股收益（稀释后）GRALPDFS
| Q4 25 | $-2.37 | $0.00 | ||
| Q3 25 | $-2.46 | $0.03 | ||
| Q2 25 | $-3.18 | $0.03 | ||
| Q1 25 | $-3.10 | $-0.08 | ||
| Q4 24 | $-1.49 | $0.01 | ||
| Q3 24 | $-3.94 | $0.06 | ||
| Q2 24 | $-51.06 | $0.04 | ||
| Q1 24 | $-7.05 | $-0.01 |
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 | $249.7M | $42.2M |
| 总债务越低越好 | — | $67.0M |
| 股东权益账面价值 | $2.6B | $271.0M |
| 总资产 | $2.9B | $418.7M |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资GRALPDFS
| Q4 25 | $249.7M | $42.2M | ||
| Q3 25 | $126.9M | $35.9M | ||
| Q2 25 | $127.4M | $40.4M | ||
| Q1 25 | $133.9M | $54.1M | ||
| Q4 24 | $214.2M | $114.9M | ||
| Q3 24 | $853.6M | $120.2M | ||
| Q2 24 | $958.8M | $117.9M | ||
| Q1 24 | $199.7M | $122.9M |
总债务GRALPDFS
| Q4 25 | — | $67.0M | ||
| Q3 25 | — | $67.6M | ||
| Q2 25 | — | $68.1M | ||
| Q1 25 | — | $68.7M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益GRALPDFS
| Q4 25 | $2.6B | $271.0M | ||
| Q3 25 | $2.2B | $264.4M | ||
| Q2 25 | $2.3B | $257.5M | ||
| Q1 25 | $2.4B | $249.0M | ||
| Q4 24 | $2.5B | $246.0M | ||
| Q3 24 | $2.6B | $240.5M | ||
| Q2 24 | $2.7B | $232.2M | ||
| Q1 24 | — | $225.4M |
总资产GRALPDFS
| Q4 25 | $2.9B | $418.7M | ||
| Q3 25 | $2.6B | $406.4M | ||
| Q2 25 | $2.7B | $391.1M | ||
| Q1 25 | $2.8B | $390.0M | ||
| Q4 24 | $3.0B | $315.3M | ||
| Q3 24 | $3.1B | $307.4M | ||
| Q2 24 | $3.3B | $298.0M | ||
| Q1 24 | — | $286.8M |
负债/权益比GRALPDFS
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.28× | ||
| Q4 24 | — | — | ||
| 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 | $-63.8M | $17.3M |
| 自由现金流经营现金流 - 资本支出 | $-63.9M | $7.5M |
| 自由现金流率自由现金流/营收 | -146.5% | 12.1% |
| 资本支出强度资本支出/营收 | 0.2% | 15.7% |
| 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 | $-299.9M | $-8.6M |
8季度趋势，按日历期对齐
经营现金流GRALPDFS
| Q4 25 | $-63.8M | $17.3M | ||
| Q3 25 | $-63.2M | $3.3M | ||
| Q2 25 | $-77.0M | $-5.2M | ||
| Q1 25 | $-95.0M | $8.6M | ||
| Q4 24 | — | $1.6M | ||
| Q3 24 | $-104.6M | $9.3M | ||
| Q2 24 | $-171.8M | $684.0K | ||
| Q1 24 | $-207.3M | $-1.9M |
自由现金流GRALPDFS
| Q4 25 | $-63.9M | $7.5M | ||
| Q3 25 | $-63.6M | $-2.9M | ||
| Q2 25 | $-77.3M | $-13.8M | ||
| Q1 25 | $-95.1M | $535.0K | ||
| Q4 24 | — | $-4.0M | ||
| Q3 24 | $-105.6M | $5.1M | ||
| Q2 24 | $-173.2M | $-4.6M | ||
| Q1 24 | $-209.8M | $-3.9M |
自由现金流率GRALPDFS
| Q4 25 | -146.5% | 12.1% | ||
| Q3 25 | -175.8% | -5.1% | ||
| Q2 25 | -217.6% | -26.6% | ||
| Q1 25 | -298.6% | 1.1% | ||
| Q4 24 | — | -8.0% | ||
| Q3 24 | -368.4% | 11.0% | ||
| Q2 24 | -541.7% | -11.1% | ||
| Q1 24 | -785.3% | -9.4% |
资本支出强度GRALPDFS
| Q4 25 | 0.2% | 15.7% | ||
| Q3 25 | 1.1% | 10.8% | ||
| Q2 25 | 1.0% | 16.5% | ||
| Q1 25 | 0.2% | 17.0% | ||
| Q4 24 | — | 11.3% | ||
| Q3 24 | 3.4% | 9.0% | ||
| Q2 24 | 4.3% | 12.8% | ||
| Q1 24 | 9.5% | 4.9% |
现金转化率GRALPDFS
| Q4 25 | — | — | ||
| Q3 25 | — | 2.54× | ||
| Q2 25 | — | -4.55× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.98× | ||
| Q3 24 | — | 4.20× | ||
| Q2 24 | — | 0.40× | ||
| Q1 24 | — | — |
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
GRAL
| Screening Revenue | $42.3M | 97% |
| Developmental Services Revenue | $1.3M | 3% |
PDFS
| Volumebased | $38.0M | 61% |
| Other | $24.4M | 39% |
