vs
GRAIL, Inc.（GRAL）与RadNet, Inc.（RDNT）财务数据对比。点击上方公司名可切换其他公司
RadNet, Inc.的季度营收约是GRAIL, Inc.的12.6倍（$547.7M vs $43.6M）。RadNet, Inc.净利率更高（-0.1% vs -227.5%，领先227.4%）。RadNet, Inc.同比增速更快（14.8% vs 14.0%）。过去两年GRAIL, Inc.的营收复合增速更高（27.7% vs 12.6%）
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。
RadNet是美国领先的放射医疗服务企业，总部位于加利福尼亚州洛杉矶，是美国规模最大的独立固定地址诊断影像中心运营商，按网点数量及年度影像业务收入计均居行业首位。截至2025年，该公司在全美8个州持有或运营超400家影像中心，提供门诊诊断影像服务。
GRAL vs RDNT — 直观对比
营收规模更大
RDNT
是对方的12.6倍
$43.6M
营收增速更快
RDNT
高出0.8%
14.0%
净利率更高
RDNT
高出227.4%
-227.5%
两年增速更快
GRAL
近两年复合增速
12.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $43.6M | $547.7M |
| 净利润 | $-99.2M | $-597.0K |
| 毛利率 | — | — |
| 营业利润率 | -285.4% | 5.1% |
| 净利率 | -227.5% | -0.1% |
| 营收同比 | 14.0% | 14.8% |
| 净利润同比 | -2.2% | -111.2% |
| 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GRALRDNT
| Q4 25 | $43.6M | $547.7M | ||
| Q3 25 | $36.2M | $522.9M | ||
| Q2 25 | $35.5M | $498.2M | ||
| Q1 25 | $31.8M | $471.4M | ||
| Q4 24 | $38.3M | $477.1M | ||
| Q3 24 | $28.7M | $461.1M | ||
| Q2 24 | $32.0M | $459.7M | ||
| Q1 24 | $26.7M | $431.7M |
净利润GRALRDNT
| Q4 25 | $-99.2M | $-597.0K | ||
| Q3 25 | $-89.0M | $5.4M | ||
| Q2 25 | $-114.0M | $14.5M | ||
| Q1 25 | $-106.2M | $-37.9M | ||
| Q4 24 | $-97.1M | $5.3M | ||
| Q3 24 | $-125.7M | $3.2M | ||
| Q2 24 | $-1.6B | $-3.0M | ||
| Q1 24 | $-218.9M | $-2.8M |
营业利润率GRALRDNT
| Q4 25 | -285.4% | 5.1% | ||
| Q3 25 | -346.2% | 5.2% | ||
| Q2 25 | -446.9% | 6.2% | ||
| Q1 25 | -482.5% | -5.1% | ||
| Q4 24 | -358.0% | 5.1% | ||
| Q3 24 | -640.5% | 7.4% | ||
| Q2 24 | -5133.8% | 7.6% | ||
| Q1 24 | -851.1% | 2.6% |
净利率GRALRDNT
| Q4 25 | -227.5% | -0.1% | ||
| Q3 25 | -245.8% | 1.0% | ||
| Q2 25 | -320.7% | 2.9% | ||
| Q1 25 | -333.6% | -8.0% | ||
| Q4 24 | -253.8% | 1.1% | ||
| Q3 24 | -438.7% | 0.7% | ||
| Q2 24 | -4958.8% | -0.6% | ||
| Q1 24 | -819.3% | -0.6% |
每股收益（稀释后）GRALRDNT
| Q4 25 | $-2.37 | $0.00 | ||
| Q3 25 | $-2.46 | $0.07 | ||
| Q2 25 | $-3.18 | $0.19 | ||
| Q1 25 | $-3.10 | $-0.51 | ||
| Q4 24 | $-1.49 | $0.08 | ||
| Q3 24 | $-3.94 | $0.04 | ||
| Q2 24 | $-51.06 | $-0.04 | ||
| Q1 24 | $-7.05 | $-0.04 |
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 | $767.2M |
| 总债务越低越好 | — | $1.1B |
| 股东权益账面价值 | $2.6B | $1.1B |
| 总资产 | $2.9B | $3.8B |
| 负债/权益比越低杠杆越低 | — | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资GRALRDNT
| Q4 25 | $249.7M | $767.2M | ||
| Q3 25 | $126.9M | $804.7M | ||
| Q2 25 | $127.4M | $833.2M | ||
| Q1 25 | $133.9M | $717.3M | ||
| Q4 24 | $214.2M | $740.0M | ||
| Q3 24 | $853.6M | $748.9M | ||
| Q2 24 | $958.8M | $741.7M | ||
| Q1 24 | $199.7M | $527.0M |
总债务GRALRDNT
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $834.6M |
股东权益GRALRDNT
| Q4 25 | $2.6B | $1.1B | ||
| Q3 25 | $2.2B | $1.1B | ||
| Q2 25 | $2.3B | $932.3M | ||
| Q1 25 | $2.4B | $898.1M | ||
| Q4 24 | $2.5B | $902.3M | ||
| Q3 24 | $2.6B | $895.3M | ||
| Q2 24 | $2.7B | $881.0M | ||
| Q1 24 | — | $873.0M |
总资产GRALRDNT
| Q4 25 | $2.9B | $3.8B | ||
| Q3 25 | $2.6B | $3.7B | ||
| Q2 25 | $2.7B | $3.5B | ||
| Q1 25 | $2.8B | $3.3B | ||
| Q4 24 | $3.0B | $3.3B | ||
| Q3 24 | $3.1B | $3.3B | ||
| Q2 24 | $3.3B | $3.2B | ||
| Q1 24 | — | $3.0B |
负债/权益比GRALRDNT
| Q4 25 | — | 1.00× | ||
| Q3 25 | — | 1.04× | ||
| Q2 25 | — | 1.18× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | 1.13× | ||
| Q3 24 | — | 1.14× | ||
| Q2 24 | — | 1.17× | ||
| Q1 24 | — | 0.96× |
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 | $84.2M |
| 自由现金流经营现金流 - 资本支出 | $-63.9M | — |
| 自由现金流率自由现金流/营收 | -146.5% | — |
| 资本支出强度资本支出/营收 | 0.2% | — |
| 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季度趋势，按日历期对齐
经营现金流GRALRDNT
| Q4 25 | $-63.8M | $84.2M | ||
| Q3 25 | $-63.2M | $52.8M | ||
| Q2 25 | $-77.0M | $120.3M | ||
| Q1 25 | $-95.0M | $41.5M | ||
| Q4 24 | — | $42.5M | ||
| Q3 24 | $-104.6M | $57.4M | ||
| Q2 24 | $-171.8M | $116.0M | ||
| Q1 24 | $-207.3M | $17.1M |
自由现金流GRALRDNT
| Q4 25 | $-63.9M | — | ||
| Q3 25 | $-63.6M | — | ||
| Q2 25 | $-77.3M | — | ||
| Q1 25 | $-95.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-105.6M | — | ||
| Q2 24 | $-173.2M | — | ||
| Q1 24 | $-209.8M | — |
自由现金流率GRALRDNT
| Q4 25 | -146.5% | — | ||
| Q3 25 | -175.8% | — | ||
| Q2 25 | -217.6% | — | ||
| Q1 25 | -298.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -368.4% | — | ||
| Q2 24 | -541.7% | — | ||
| Q1 24 | -785.3% | — |
资本支出强度GRALRDNT
| Q4 25 | 0.2% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | 4.3% | — | ||
| Q1 24 | 9.5% | — |
现金转化率GRALRDNT
| Q4 25 | — | — | ||
| Q3 25 | — | 9.75× | ||
| Q2 25 | — | 8.33× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 7.96× | ||
| Q3 24 | — | 17.89× | ||
| Q2 24 | — | — | ||
| 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% |
RDNT
| Commercial Insurance1 | $301.0M | 55% |
| Medicare1 | $129.2M | 24% |
| Capitation Arrangements | $31.9M | 6% |
| Health Care Other | $20.4M | 4% |
| Digital Health | $16.4M | 3% |
| Other | $15.2M | 3% |
| Medicaid1 | $14.0M | 3% |
| Workers Compensation Personal Injury1 | $12.3M | 2% |
| Health Care Management Service | $7.5M | 1% |
