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Globalstar, Inc.（GSAT）与再鼎医药（ZLAB）财务数据对比。点击上方公司名可切换其他公司
再鼎医药的季度营收约是Globalstar, Inc.的1.8倍（$127.1M vs $72.0M），Globalstar, Inc.同比增速更快（17.6% vs 17.1%），过去两年再鼎医药的营收复合增速更高（20.8% vs 12.9%）
Globalstar Inc.是一家美国电信企业，运营近地轨道卫星星座，可提供卫星电话、低速数据传输及对地观测服务，其第二代卫星星座由25颗卫星组成，相关服务可覆盖全球大部分区域的通信及遥感需求。
再鼎医药是一家创新生物制药企业，专注于肿瘤、自身免疫性疾病、感染性疾病等领域创新疗法的研发、生产与商业化，核心市场覆盖大中华区，与全球多家头部生物科技企业合作，为存在未被满足医疗需求的患者提供治疗方案。
GSAT vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.8倍
$72.0M
营收增速更快
GSAT
高出0.5%
17.1%
两年增速更快
ZLAB
近两年复合增速
12.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $72.0M | $127.1M |
| 净利润 | $-11.6M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | -0.5% | -54.6% |
| 净利率 | -16.1% | — |
| 营收同比 | 17.6% | 17.1% |
| 净利润同比 | 76.9% | — |
| 每股收益（稀释后） | $-0.11 | $-0.05 |
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GSATZLAB
| Q4 25 | $72.0M | $127.1M | ||
| Q3 25 | $73.8M | $115.4M | ||
| Q2 25 | $67.1M | $109.1M | ||
| Q1 25 | $60.0M | $105.7M | ||
| Q4 24 | $61.2M | $108.5M | ||
| Q3 24 | $72.3M | $101.8M | ||
| Q2 24 | $60.4M | $100.1M | ||
| Q1 24 | $56.5M | $87.1M |
净利润GSATZLAB
| Q4 25 | $-11.6M | — | ||
| Q3 25 | $1.1M | $-36.0M | ||
| Q2 25 | $19.2M | $-40.7M | ||
| Q1 25 | $-17.3M | $-48.4M | ||
| Q4 24 | $-50.2M | — | ||
| Q3 24 | $9.9M | $-41.7M | ||
| Q2 24 | $-9.7M | $-80.3M | ||
| Q1 24 | $-13.2M | $-53.5M |
毛利率GSATZLAB
| Q4 25 | — | 51.0% | ||
| Q3 25 | — | 59.5% | ||
| Q2 25 | — | 60.6% | ||
| Q1 25 | — | 63.6% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 64.1% | ||
| Q2 24 | — | 64.9% | ||
| Q1 24 | — | 61.4% |
营业利润率GSATZLAB
| Q4 25 | -0.5% | -54.6% | ||
| Q3 25 | 13.8% | -42.3% | ||
| Q2 25 | 9.2% | -50.3% | ||
| Q1 25 | -14.2% | -53.3% | ||
| Q4 24 | -6.9% | -62.6% | ||
| Q3 24 | 13.0% | -66.6% | ||
| Q2 24 | -2.4% | -76.0% | ||
| Q1 24 | -8.3% | -80.7% |
净利率GSATZLAB
| Q4 25 | -16.1% | — | ||
| Q3 25 | 1.5% | -31.2% | ||
| Q2 25 | 28.6% | -37.3% | ||
| Q1 25 | -28.9% | -45.8% | ||
| Q4 24 | -82.1% | — | ||
| Q3 24 | 13.7% | -40.9% | ||
| Q2 24 | -16.0% | -80.2% | ||
| Q1 24 | -23.4% | -61.4% |
每股收益（稀释后）GSATZLAB
| Q4 25 | $-0.11 | $-0.05 | ||
| Q3 25 | $-0.01 | $-0.03 | ||
| Q2 25 | $0.13 | $-0.04 | ||
| Q1 25 | $-0.16 | $-0.04 | ||
| Q4 24 | $-0.57 | $-0.09 | ||
| Q3 24 | $0.00 | $-0.04 | ||
| Q2 24 | $-0.01 | $-0.08 | ||
| Q1 24 | $-0.01 | $-0.05 |
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 | $447.5M | $689.6M |
| 总债务越低越好 | $483.8M | — |
| 股东权益账面价值 | $355.7M | $715.5M |
| 总资产 | $2.3B | $1.2B |
| 负债/权益比越低杠杆越低 | 1.36× | — |
8季度趋势，按日历期对齐
现金及短期投资GSATZLAB
| Q4 25 | $447.5M | $689.6M | ||
| Q3 25 | $346.3M | $717.2M | ||
| Q2 25 | $308.2M | $732.2M | ||
| Q1 25 | $241.4M | $757.3M | ||
| Q4 24 | $391.2M | $779.7M | ||
| Q3 24 | $51.9M | $616.1M | ||
| Q2 24 | $64.3M | $630.0M | ||
| Q1 24 | $59.3M | $650.8M |
总债务GSATZLAB
| Q4 25 | $483.8M | — | ||
| Q3 25 | $508.6M | — | ||
| Q2 25 | $491.5M | — | ||
| Q1 25 | $502.7M | — | ||
| Q4 24 | $511.4M | — | ||
| Q3 24 | $394.4M | — | ||
| Q2 24 | $393.1M | — | ||
| Q1 24 | $398.7M | — |
股东权益GSATZLAB
| Q4 25 | $355.7M | $715.5M | ||
| Q3 25 | $364.8M | $759.9M | ||
| Q2 25 | $360.9M | $791.7M | ||
| Q1 25 | $344.3M | $810.8M | ||
| Q4 24 | $358.9M | $840.9M | ||
| Q3 24 | $394.1M | $667.7M | ||
| Q2 24 | $383.0M | $704.2M | ||
| Q1 24 | $377.1M | $762.2M |
总资产GSATZLAB
| Q4 25 | $2.3B | $1.2B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.7B | $1.2B | ||
| Q4 24 | $1.7B | $1.2B | ||
| Q3 24 | $917.6M | $985.3M | ||
| Q2 24 | $926.2M | $987.4M | ||
| Q1 24 | $917.0M | $988.4M |
负债/权益比GSATZLAB
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.39× | — | ||
| Q2 25 | 1.36× | — | ||
| Q1 25 | 1.46× | — | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 1.00× | — | ||
| Q2 24 | 1.03× | — | ||
| Q1 24 | 1.06× | — |
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 | $175.9M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-26.7M |
| 自由现金流率自由现金流/营收 | — | -21.0% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 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 | — | $-158.9M |
8季度趋势，按日历期对齐
经营现金流GSATZLAB
| Q4 25 | $175.9M | $-26.0M | ||
| Q3 25 | $236.0M | $-32.0M | ||
| Q2 25 | $157.9M | $-31.0M | ||
| Q1 25 | $51.9M | $-61.7M | ||
| Q4 24 | $340.7M | $-55.8M | ||
| Q3 24 | $32.0M | $-26.8M | ||
| Q2 24 | $36.7M | $-42.2M | ||
| Q1 24 | $29.8M | $-90.1M |
自由现金流GSATZLAB
| Q4 25 | — | $-26.7M | ||
| Q3 25 | — | $-35.0M | ||
| Q2 25 | — | $-33.9M | ||
| Q1 25 | — | $-63.2M | ||
| Q4 24 | — | $-58.4M | ||
| Q3 24 | — | $-28.2M | ||
| Q2 24 | — | $-42.9M | ||
| Q1 24 | — | $-91.1M |
自由现金流率GSATZLAB
| Q4 25 | — | -21.0% | ||
| Q3 25 | — | -30.4% | ||
| Q2 25 | — | -31.1% | ||
| Q1 25 | — | -59.9% | ||
| Q4 24 | — | -53.8% | ||
| Q3 24 | — | -27.7% | ||
| Q2 24 | — | -42.9% | ||
| Q1 24 | — | -104.5% |
资本支出强度GSATZLAB
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.1% |
现金转化率GSATZLAB
| Q4 25 | — | — | ||
| Q3 25 | 216.53× | — | ||
| Q2 25 | 8.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.23× | — | ||
| 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
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
ZLAB
| Zejula | $56.0M | 44% |
| Other | $21.9M | 17% |
| Nuzyra | $16.0M | 13% |
| Optune | $11.9M | 9% |
| XACDURO | $10.7M | 8% |
| Qinlock | $9.7M | 8% |
| AUGTYRO | $836.0K | 1% |
