vs
HA Sustainable Infrastructure Capital, Inc.（HASI）与REPLIGEN CORP（RGEN）财务数据对比。点击上方公司名可切换其他公司
REPLIGEN CORP的季度营收约是HA Sustainable Infrastructure Capital, Inc.的1.7倍（$197.9M vs $114.8M），REPLIGEN CORP净利率更高（6.7% vs -46.8%，领先53.5%），REPLIGEN CORP同比增速更快（13.6% vs 13.3%），过去两年REPLIGEN CORP的营收复合增速更高（14.4% vs 4.2%）
HA可持续基础设施资本公司（HASI）是一家聚焦可持续基础设施领域的专业投资机构，业务覆盖可再生能源、能效提升、可持续地产及低碳公用事业板块，主要在北美市场运营，为合格绿色项目提供长期资本支持，为投资者创造稳定的经风险调整后回报。
Repligen是一家全球生命科学企业，专注于创新生物工艺技术与系统的研发及商业化，助力提升生物药生产效率。公司1981年成立，总部位于美国马萨诸塞州沃尔瑟姆，于纳斯达克挂牌上市，股票代码RGEN，截至2025年全球员工超1900人，主要服务生物制药领域客户。
HASI vs RGEN — 直观对比
营收规模更大
RGEN
是对方的1.7倍
$114.8M
营收增速更快
RGEN
高出0.3%
13.3%
净利率更高
RGEN
高出53.5%
-46.8%
两年增速更快
RGEN
近两年复合增速
4.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $114.8M | $197.9M |
| 净利润 | $-53.8M | $13.3M |
| 毛利率 | — | 52.5% |
| 营业利润率 | -57.4% | 9.0% |
| 净利率 | -46.8% | 6.7% |
| 营收同比 | 13.3% | 13.6% |
| 净利润同比 | -176.7% | 143.9% |
| 每股收益（稀释后） | $-0.38 | $0.24 |
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HASIRGEN
| Q4 25 | $114.8M | $197.9M | ||
| Q3 25 | $103.1M | $188.8M | ||
| Q2 25 | $85.7M | $182.4M | ||
| Q1 25 | $96.9M | $169.2M | ||
| Q4 24 | $101.3M | $174.1M | ||
| Q3 24 | $82.0M | $154.9M | ||
| Q2 24 | $94.5M | $154.1M | ||
| Q1 24 | $105.8M | $151.3M |
净利润HASIRGEN
| Q4 25 | $-53.8M | $13.3M | ||
| Q3 25 | $83.3M | $14.9M | ||
| Q2 25 | $98.4M | $14.9M | ||
| Q1 25 | $56.6M | $5.8M | ||
| Q4 24 | $70.1M | $-30.3M | ||
| Q3 24 | $-19.6M | $-654.0K | ||
| Q2 24 | $26.5M | $3.3M | ||
| Q1 24 | $123.0M | $2.1M |
毛利率HASIRGEN
| Q4 25 | — | 52.5% | ||
| Q3 25 | — | 53.2% | ||
| Q2 25 | — | 50.0% | ||
| Q1 25 | — | 53.6% | ||
| Q4 24 | — | 26.1% | ||
| Q3 24 | — | 50.0% | ||
| Q2 24 | — | 49.8% | ||
| Q1 24 | — | 49.5% |
营业利润率HASIRGEN
| Q4 25 | -57.4% | 9.0% | ||
| Q3 25 | — | 8.9% | ||
| Q2 25 | — | 7.6% | ||
| Q1 25 | 84.7% | 3.9% | ||
| Q4 24 | 90.9% | -17.7% | ||
| Q3 24 | -32.1% | -5.1% | ||
| Q2 24 | 39.5% | 1.0% | ||
| Q1 24 | — | 1.3% |
净利率HASIRGEN
| Q4 25 | -46.8% | 6.7% | ||
| Q3 25 | 80.8% | 7.9% | ||
| Q2 25 | 114.9% | 8.2% | ||
| Q1 25 | 58.4% | 3.4% | ||
| Q4 24 | 69.2% | -17.4% | ||
| Q3 24 | -23.9% | -0.4% | ||
| Q2 24 | 28.1% | 2.2% | ||
| Q1 24 | 116.3% | 1.4% |
每股收益（稀释后）HASIRGEN
| Q4 25 | $-0.38 | $0.24 | ||
| Q3 25 | $0.61 | $0.26 | ||
| Q2 25 | $0.74 | $0.26 | ||
| Q1 25 | $0.44 | $0.10 | ||
| Q4 24 | $0.58 | $-0.55 | ||
| Q3 24 | $-0.17 | $-0.01 | ||
| Q2 24 | $0.23 | $0.06 | ||
| Q1 24 | $0.98 | $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 | $110.2M | $767.6M |
| 总债务越低越好 | — | $542.2M |
| 股东权益账面价值 | $2.7B | $2.1B |
| 总资产 | $8.2B | $2.9B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资HASIRGEN
| Q4 25 | $110.2M | $767.6M | ||
| Q3 25 | $301.8M | $748.7M | ||
| Q2 25 | $86.5M | $708.9M | ||
| Q1 25 | $67.4M | $697.2M | ||
| Q4 24 | $129.8M | $757.4M | ||
| Q3 24 | $44.1M | $784.0M | ||
| Q2 24 | $145.7M | $809.1M | ||
| Q1 24 | $61.4M | $780.6M |
总债务HASIRGEN
| Q4 25 | — | $542.2M | ||
| Q3 25 | — | $537.9M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $525.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HASIRGEN
| Q4 25 | $2.7B | $2.1B | ||
| Q3 25 | $2.7B | $2.1B | ||
| Q2 25 | $2.6B | $2.1B | ||
| Q1 25 | $2.5B | $2.0B | ||
| Q4 24 | $2.4B | $2.0B | ||
| Q3 24 | $2.3B | $2.0B | ||
| Q2 24 | $2.3B | $2.0B | ||
| Q1 24 | $2.3B | $2.0B |
总资产HASIRGEN
| Q4 25 | $8.2B | $2.9B | ||
| Q3 25 | $8.2B | $2.9B | ||
| Q2 25 | $7.6B | $2.9B | ||
| Q1 25 | $7.5B | $2.9B | ||
| Q4 24 | $7.1B | $2.8B | ||
| Q3 24 | $6.7B | $2.8B | ||
| Q2 24 | $6.7B | $2.9B | ||
| Q1 24 | $6.7B | $2.8B |
负债/权益比HASIRGEN
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.27× | ||
| 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 | $167.3M | $25.7M |
| 自由现金流经营现金流 - 资本支出 | — | $17.6M |
| 自由现金流率自由现金流/营收 | — | 8.9% |
| 资本支出强度资本支出/营收 | — | 4.1% |
| 现金转化率经营现金流/净利润 | — | 1.93× |
| 过去12个月自由现金流最近4个季度 | — | $93.9M |
8季度趋势，按日历期对齐
经营现金流HASIRGEN
| Q4 25 | $167.3M | $25.7M | ||
| Q3 25 | $-121.8M | $48.1M | ||
| Q2 25 | $79.6M | $28.6M | ||
| Q1 25 | $-37.1M | $15.0M | ||
| Q4 24 | $5.9M | $39.2M | ||
| Q3 24 | $21.9M | $49.3M | ||
| Q2 24 | $-24.8M | $42.2M | ||
| Q1 24 | $20.9M | $44.7M |
自由现金流HASIRGEN
| Q4 25 | — | $17.6M | ||
| Q3 25 | — | $43.4M | ||
| Q2 25 | — | $21.5M | ||
| Q1 25 | — | $11.4M | ||
| Q4 24 | — | $33.6M | ||
| Q3 24 | — | $42.3M | ||
| Q2 24 | — | $37.4M | ||
| Q1 24 | — | $36.4M |
自由现金流率HASIRGEN
| Q4 25 | — | 8.9% | ||
| Q3 25 | — | 23.0% | ||
| Q2 25 | — | 11.8% | ||
| Q1 25 | — | 6.8% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 27.3% | ||
| Q2 24 | — | 24.3% | ||
| Q1 24 | — | 24.0% |
资本支出强度HASIRGEN
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 5.5% |
现金转化率HASIRGEN
| Q4 25 | — | 1.93× | ||
| Q3 25 | -1.46× | 3.23× | ||
| Q2 25 | 0.81× | 1.92× | ||
| Q1 25 | -0.66× | 2.57× | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.94× | 12.70× | ||
| Q1 24 | 0.17× | 21.35× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
