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HALOZYME THERAPEUTICS, INC.（HALO）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
Ryman Hospitality Properties, Inc.的季度营收约是HALOZYME THERAPEUTICS, INC.的1.6倍（$737.8M vs $451.8M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs -31.3%，领先41.4%），HALOZYME THERAPEUTICS, INC.同比增速更快（51.6% vs 13.9%），HALOZYME THERAPEUTICS, INC.自由现金流更多（$217.6M vs $58.5M），过去两年HALOZYME THERAPEUTICS, INC.的营收复合增速更高（51.9% vs 18.2%）
Halozyme Therapeutics是一家美国生物技术企业，专注于肿瘤领域创新疗法研发，核心管线均针对肿瘤微环境进行靶向干预，致力于为全球癌症患者提供更安全高效的治疗选择。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
HALO vs RHP — 直观对比
营收规模更大
RHP
是对方的1.6倍
$451.8M
营收增速更快
HALO
高出37.7%
13.9%
净利率更高
RHP
高出41.4%
-31.3%
自由现金流更多
HALO
多$159.1M
$58.5M
两年增速更快
HALO
近两年复合增速
18.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $451.8M | $737.8M |
| 净利润 | $-141.6M | $74.5M |
| 毛利率 | 82.6% | 41.4% |
| 营业利润率 | -20.6% | 19.4% |
| 净利率 | -31.3% | 10.1% |
| 营收同比 | 51.6% | 13.9% |
| 净利润同比 | -203.3% | 3.0% |
| 每股收益（稀释后） | $-1.13 | $1.12 |
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HALORHP
| Q4 25 | $451.8M | $737.8M | ||
| Q3 25 | $354.3M | $592.5M | ||
| Q2 25 | $325.7M | $659.5M | ||
| Q1 25 | $264.9M | $587.3M | ||
| Q4 24 | $298.0M | $647.6M | ||
| Q3 24 | $290.1M | $550.0M | ||
| Q2 24 | $231.4M | $613.3M | ||
| Q1 24 | $195.9M | $528.3M |
净利润HALORHP
| Q4 25 | $-141.6M | $74.5M | ||
| Q3 25 | $175.2M | $34.9M | ||
| Q2 25 | $165.2M | $71.8M | ||
| Q1 25 | $118.1M | $63.0M | ||
| Q4 24 | $137.0M | $72.3M | ||
| Q3 24 | $137.0M | $59.0M | ||
| Q2 24 | $93.2M | $100.8M | ||
| Q1 24 | $76.8M | $42.8M |
毛利率HALORHP
| Q4 25 | 82.6% | 41.4% | ||
| Q3 25 | 84.4% | 40.9% | ||
| Q2 25 | 85.8% | 49.7% | ||
| Q1 25 | 81.7% | 44.4% | ||
| Q4 24 | 85.9% | 40.4% | ||
| Q3 24 | 83.0% | 43.1% | ||
| Q2 24 | 82.9% | 48.4% | ||
| Q1 24 | 85.5% | 41.5% |
营业利润率HALORHP
| Q4 25 | -20.6% | 19.4% | ||
| Q3 25 | 61.5% | 15.0% | ||
| Q2 25 | 62.2% | 21.1% | ||
| Q1 25 | 53.4% | 19.8% | ||
| Q4 24 | 58.9% | 18.6% | ||
| Q3 24 | 56.3% | 19.3% | ||
| Q2 24 | 50.7% | 27.4% | ||
| Q1 24 | 48.8% | 18.2% |
净利率HALORHP
| Q4 25 | -31.3% | 10.1% | ||
| Q3 25 | 49.5% | 5.9% | ||
| Q2 25 | 50.7% | 10.9% | ||
| Q1 25 | 44.6% | 10.7% | ||
| Q4 24 | 46.0% | 11.2% | ||
| Q3 24 | 47.2% | 10.7% | ||
| Q2 24 | 40.3% | 16.4% | ||
| Q1 24 | 39.2% | 8.1% |
每股收益（稀释后）HALORHP
| Q4 25 | $-1.13 | $1.12 | ||
| Q3 25 | $1.43 | $0.53 | ||
| Q2 25 | $1.33 | $1.12 | ||
| Q1 25 | $0.93 | $1.00 | ||
| Q4 24 | $1.06 | $1.12 | ||
| Q3 24 | $1.05 | $0.94 | ||
| Q2 24 | $0.72 | $1.65 | ||
| Q1 24 | $0.60 | $0.67 |
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 | $133.8M | $471.4M |
| 总债务越低越好 | $2.1B | — |
| 股东权益账面价值 | $48.8M | $750.2M |
| 总资产 | $2.5B | $6.2B |
| 负债/权益比越低杠杆越低 | 43.89× | — |
8季度趋势，按日历期对齐
现金及短期投资HALORHP
| Q4 25 | $133.8M | $471.4M | ||
| Q3 25 | $419.7M | $483.3M | ||
| Q2 25 | $61.9M | $420.6M | ||
| Q1 25 | $176.3M | $413.9M | ||
| Q4 24 | $115.8M | $477.7M | ||
| Q3 24 | $154.3M | $534.9M | ||
| Q2 24 | $187.9M | $498.4M | ||
| Q1 24 | $164.6M | $465.3M |
总债务HALORHP
| Q4 25 | $2.1B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
股东权益HALORHP
| Q4 25 | $48.8M | $750.2M | ||
| Q3 25 | $503.9M | $758.5M | ||
| Q2 25 | $332.7M | $800.4M | ||
| Q1 25 | $482.3M | $531.5M | ||
| Q4 24 | $363.8M | $549.0M | ||
| Q3 24 | $452.7M | $551.9M | ||
| Q2 24 | $289.4M | $562.6M | ||
| Q1 24 | $177.8M | $529.9M |
总资产HALORHP
| Q4 25 | $2.5B | $6.2B | ||
| Q3 25 | $2.2B | $6.2B | ||
| Q2 25 | $2.1B | $6.1B | ||
| Q1 25 | $2.2B | $5.2B | ||
| Q4 24 | $2.1B | $5.2B | ||
| Q3 24 | $2.1B | $5.2B | ||
| Q2 24 | $2.0B | $5.1B | ||
| Q1 24 | $1.8B | $5.1B |
负债/权益比HALORHP
| Q4 25 | 43.89× | — | ||
| Q3 25 | 3.00× | — | ||
| Q2 25 | 4.54× | — | ||
| Q1 25 | 3.13× | — | ||
| Q4 24 | 4.14× | — | ||
| Q3 24 | 3.32× | — | ||
| Q2 24 | 5.19× | — | ||
| Q1 24 | 8.44× | — |
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 | $219.0M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $217.6M | $58.5M |
| 自由现金流率自由现金流/营收 | 48.2% | 7.9% |
| 资本支出强度资本支出/营收 | 0.3% | 14.4% |
| 现金转化率经营现金流/净利润 | — | 2.21× |
| 过去12个月自由现金流最近4个季度 | $644.6M | $232.4M |
8季度趋势，按日历期对齐
经营现金流HALORHP
| Q4 25 | $219.0M | $164.7M | ||
| Q3 25 | $178.6M | $205.2M | ||
| Q2 25 | $99.7M | $122.5M | ||
| Q1 25 | $154.2M | $98.2M | ||
| Q4 24 | $178.5M | $166.6M | ||
| Q3 24 | $115.4M | $218.1M | ||
| Q2 24 | $55.8M | $184.3M | ||
| Q1 24 | $129.4M | $7.5M |
自由现金流HALORHP
| Q4 25 | $217.6M | $58.5M | ||
| Q3 25 | $175.6M | $135.4M | ||
| Q2 25 | $98.1M | $53.0M | ||
| Q1 25 | $153.3M | $-14.5M | ||
| Q4 24 | $175.4M | $76.0M | ||
| Q3 24 | $113.9M | $85.7M | ||
| Q2 24 | $53.2M | $78.8M | ||
| Q1 24 | $125.9M | $-72.0M |
自由现金流率HALORHP
| Q4 25 | 48.2% | 7.9% | ||
| Q3 25 | 49.6% | 22.9% | ||
| Q2 25 | 30.1% | 8.0% | ||
| Q1 25 | 57.9% | -2.5% | ||
| Q4 24 | 58.9% | 11.7% | ||
| Q3 24 | 39.3% | 15.6% | ||
| Q2 24 | 23.0% | 12.9% | ||
| Q1 24 | 64.3% | -13.6% |
资本支出强度HALORHP
| Q4 25 | 0.3% | 14.4% | ||
| Q3 25 | 0.9% | 11.8% | ||
| Q2 25 | 0.5% | 10.5% | ||
| Q1 25 | 0.4% | 19.2% | ||
| Q4 24 | 1.0% | 14.0% | ||
| Q3 24 | 0.5% | 24.1% | ||
| Q2 24 | 1.1% | 17.2% | ||
| Q1 24 | 1.8% | 15.0% |
现金转化率HALORHP
| Q4 25 | — | 2.21× | ||
| Q3 25 | 1.02× | 5.88× | ||
| Q2 25 | 0.60× | 1.71× | ||
| Q1 25 | 1.31× | 1.56× | ||
| Q4 24 | 1.30× | 2.30× | ||
| Q3 24 | 0.84× | 3.70× | ||
| Q2 24 | 0.60× | 1.83× | ||
| Q1 24 | 1.68× | 0.17× |
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
HALO
| Royalty | $258.0M | 57% |
| Products | $122.7M | 27% |
| Proprietary Products Sales | $59.6M | 13% |
| Device Partnered Products | $12.9M | 3% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
