vs
汉美驰（HBB）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
汉美驰的季度营收约是再鼎医药的1.7倍（$212.9M vs $127.1M），再鼎医药同比增速更快（17.1% vs -0.3%），汉美驰自由现金流更多（$27.9M vs $-26.7M），过去两年汉美驰的营收复合增速更高（28.8% vs 20.8%）
汉美驰品牌控股公司是美国家电与商用餐厨设备设计营销企业，核心业务覆盖美加墨地区，主要推出搅拌机、料理机、烤面包机、慢炖锅、电熨斗、空气净化器等家用及商用设备，在北美家电市场拥有较高知名度。
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。
HBB vs ZLAB — 直观对比
营收规模更大
HBB
是对方的1.7倍
$127.1M
营收增速更快
ZLAB
高出17.4%
-0.3%
自由现金流更多
HBB
多$54.6M
$-26.7M
两年增速更快
HBB
近两年复合增速
20.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $127.1M |
| 净利润 | $18.5M | — |
| 毛利率 | 28.3% | 51.0% |
| 营业利润率 | 11.9% | -54.6% |
| 净利率 | 8.7% | — |
| 营收同比 | -0.3% | 17.1% |
| 净利润同比 | -22.7% | — |
| 每股收益（稀释后） | $1.37 | $-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HBBZLAB
| Q4 25 | $212.9M | $127.1M | ||
| Q3 25 | $132.8M | $115.4M | ||
| Q2 25 | $127.8M | $109.1M | ||
| Q1 25 | $133.4M | $105.7M | ||
| Q4 24 | $213.5M | $108.5M | ||
| Q3 24 | $156.7M | $101.8M | ||
| Q2 24 | $156.2M | $100.1M | ||
| Q1 24 | $128.3M | $87.1M |
净利润HBBZLAB
| Q4 25 | $18.5M | — | ||
| Q3 25 | $1.7M | $-36.0M | ||
| Q2 25 | $4.5M | $-40.7M | ||
| Q1 25 | $1.8M | $-48.4M | ||
| Q4 24 | $24.0M | — | ||
| Q3 24 | $1.9M | $-41.7M | ||
| Q2 24 | $6.0M | $-80.3M | ||
| Q1 24 | $-1.2M | $-53.5M |
毛利率HBBZLAB
| Q4 25 | 28.3% | 51.0% | ||
| Q3 25 | 21.1% | 59.5% | ||
| Q2 25 | 27.5% | 60.6% | ||
| Q1 25 | 24.6% | 63.6% | ||
| Q4 24 | 26.1% | 61.5% | ||
| Q3 24 | 28.0% | 64.1% | ||
| Q2 24 | 25.9% | 64.9% | ||
| Q1 24 | 23.4% | 61.4% |
营业利润率HBBZLAB
| Q4 25 | 11.9% | -54.6% | ||
| Q3 25 | 2.2% | -42.3% | ||
| Q2 25 | 4.7% | -50.3% | ||
| Q1 25 | 1.7% | -53.3% | ||
| Q4 24 | 11.0% | -62.6% | ||
| Q3 24 | 6.8% | -66.6% | ||
| Q2 24 | 6.4% | -76.0% | ||
| Q1 24 | -0.7% | -80.7% |
净利率HBBZLAB
| Q4 25 | 8.7% | — | ||
| Q3 25 | 1.2% | -31.2% | ||
| Q2 25 | 3.5% | -37.3% | ||
| Q1 25 | 1.4% | -45.8% | ||
| Q4 24 | 11.2% | — | ||
| Q3 24 | 1.2% | -40.9% | ||
| Q2 24 | 3.8% | -80.2% | ||
| Q1 24 | -0.9% | -61.4% |
每股收益（稀释后）HBBZLAB
| Q4 25 | $1.37 | $-0.05 | ||
| Q3 25 | $0.12 | $-0.03 | ||
| Q2 25 | $0.33 | $-0.04 | ||
| Q1 25 | $0.13 | $-0.04 | ||
| Q4 24 | $1.72 | $-0.09 | ||
| Q3 24 | $0.14 | $-0.04 | ||
| Q2 24 | $0.42 | $-0.08 | ||
| Q1 24 | $-0.08 | $-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 | $47.3M | $689.6M |
| 总债务越低越好 | $50.0M | — |
| 股东权益账面价值 | $182.8M | $715.5M |
| 总资产 | $397.6M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.27× | — |
8季度趋势，按日历期对齐
现金及短期投资HBBZLAB
| Q4 25 | $47.3M | $689.6M | ||
| Q3 25 | $17.2M | $717.2M | ||
| Q2 25 | $11.3M | $732.2M | ||
| Q1 25 | $48.3M | $757.3M | ||
| Q4 24 | $45.6M | $779.7M | ||
| Q3 24 | $22.6M | $616.1M | ||
| Q2 24 | $37.2M | $630.0M | ||
| Q1 24 | $26.3M | $650.8M |
总债务HBBZLAB
| Q4 25 | $50.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $50.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HBBZLAB
| Q4 25 | $182.8M | $715.5M | ||
| Q3 25 | $164.0M | $759.9M | ||
| Q2 25 | $164.0M | $791.7M | ||
| Q1 25 | $163.2M | $810.8M | ||
| Q4 24 | $165.9M | $840.9M | ||
| Q3 24 | $150.0M | $667.7M | ||
| Q2 24 | $145.7M | $704.2M | ||
| Q1 24 | $145.4M | $762.2M |
总资产HBBZLAB
| Q4 25 | $397.6M | $1.2B | ||
| Q3 25 | $392.4M | $1.2B | ||
| Q2 25 | $363.8M | $1.2B | ||
| Q1 25 | $418.0M | $1.2B | ||
| Q4 24 | $415.1M | $1.2B | ||
| Q3 24 | $408.7M | $985.3M | ||
| Q2 24 | $369.9M | $987.4M | ||
| Q1 24 | $368.9M | $988.4M |
负债/权益比HBBZLAB
| Q4 25 | 0.27× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.30× | — | ||
| 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 | $28.5M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $27.9M | $-26.7M |
| 自由现金流率自由现金流/营收 | 13.1% | -21.0% |
| 资本支出强度资本支出/营收 | 0.3% | 0.5% |
| 现金转化率经营现金流/净利润 | 1.53× | — |
| 过去12个月自由现金流最近4个季度 | $11.0M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流HBBZLAB
| Q4 25 | $28.5M | $-26.0M | ||
| Q3 25 | $9.1M | $-32.0M | ||
| Q2 25 | $-30.4M | $-31.0M | ||
| Q1 25 | $6.6M | $-61.7M | ||
| Q4 24 | $30.2M | $-55.8M | ||
| Q3 24 | $-1.9M | $-26.8M | ||
| Q2 24 | $17.4M | $-42.2M | ||
| Q1 24 | $19.7M | $-90.1M |
自由现金流HBBZLAB
| Q4 25 | $27.9M | $-26.7M | ||
| Q3 25 | $8.4M | $-35.0M | ||
| Q2 25 | $-31.3M | $-33.9M | ||
| Q1 25 | $6.1M | $-63.2M | ||
| Q4 24 | $29.4M | $-58.4M | ||
| Q3 24 | $-2.7M | $-28.2M | ||
| Q2 24 | $16.8M | $-42.9M | ||
| Q1 24 | $18.8M | $-91.1M |
自由现金流率HBBZLAB
| Q4 25 | 13.1% | -21.0% | ||
| Q3 25 | 6.3% | -30.4% | ||
| Q2 25 | -24.5% | -31.1% | ||
| Q1 25 | 4.6% | -59.9% | ||
| Q4 24 | 13.8% | -53.8% | ||
| Q3 24 | -1.7% | -27.7% | ||
| Q2 24 | 10.7% | -42.9% | ||
| Q1 24 | 14.6% | -104.5% |
资本支出强度HBBZLAB
| Q4 25 | 0.3% | 0.5% | ||
| Q3 25 | 0.6% | 2.6% | ||
| Q2 25 | 0.7% | 2.6% | ||
| Q1 25 | 0.4% | 1.5% | ||
| Q4 24 | 0.4% | 2.4% | ||
| Q3 24 | 0.5% | 1.3% | ||
| Q2 24 | 0.4% | 0.7% | ||
| Q1 24 | 0.7% | 1.1% |
现金转化率HBBZLAB
| Q4 25 | 1.53× | — | ||
| Q3 25 | 5.52× | — | ||
| Q2 25 | -6.83× | — | ||
| Q1 25 | 3.67× | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | -0.98× | — | ||
| Q2 24 | 2.90× | — | ||
| 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
HBB
| Consumer Product | $191.6M | 90% |
| Commercial Product | $17.5M | 8% |
| Health Beacon | $2.3M | 1% |
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% |
